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Growing Your Tax Preparation Business with Professional Tax Software

If you’re a tax professional, you know how dynamic your world can be. If you want to catch up with the changes and grow your business, you also know that manual processing makes you lose billable time and thus barely helps. This is how professional tax preparer software comes in handy. Basically, these are computer programs that let you work more easily and efficiently, and with greater value for your clients.

Here are the main benefits of using software for tax preparers:

Flexibility

Most software or applications for tax professionals offer a multiple window feature which enables you to view more than one set of data (Input, Prior Year Input, Forms, etc.) in one screen. Forms also usually come synced with one another, so if you were navigating to your Itemized Deduction entry, the software will automatically show you Schedule A and Itemized Deductions entries in the past year.

Straightforward Labeling and Quick Data Extraction

Good tax preparer software comes with a feature that lets you automatically label and organize the source documents of your clients, which means you’ll find it much easier to find and identify them in your e-files.
Also, you will be able to automatically pull out data from the processed source documents to be directly moved into client ta returns in the software, thereby drastically reducing data entry.

Convenience of eSignature

Tax software for professionals typically comes with eSignature, which lets you save time and money, avoid IRS problems, and more. You and your clients can make use of this efficient and secure digital method of signing tax documents.

Quick and Trouble-free Error Correction

We all know that to reduce IRS rejections, it is critical that your returns are accurate. Good tax preparer software lets you find mistakes more easily, inspect your returns with an overriden entries list, and locate e-filing errors linking directly to the specific form that must be corrected. On top of that, these programs generally allow you to easily go over the return summary, including forms.

Maximized Refunds

Lastly, if you pick the right tax preparer software, you can have a feature that lets you check out a myriad of tax scenarios for your clients and then save them for reference in the future, add new data or replace existing data in the current return. Efficiency is important for any tax preparation professional as it not only retains old clients but also keeps new ones coming.

As expected, tax preparation software for professionals can vary widely on many fronts, from features to pricing to support and more. Before choosing one, make sure you do your homework. And remember that it’s best to consider more than one prospective software. With options, you have points of reference to decide if a particular solution is indeed the one you need.