Top 5 Tax Tools to Automate Your Firm

 In Letters from Steve

If you ask 10 accounting professionals what the least efficient and most stressful part of their job is, the answer will be unanimous: taxes. The tax accounting process, from filing to delivering returns, requires an untold amount of time, money, and tedious labor. Or, at least, that’s the way it used to be. Technological advances have allowed for the automation of many tax processes, transforming what was once a nightmare into something much more manageable. With that in mind, here are our top five tax tools to bring your firm into the 21st century.

#1: SafeSend Returns

SafeSend Returns has revolutionized the tax return process. It automates the assembly, delivery, tracking, and receipt of your returns. Even better, it accomplishes all of these feats without one trip to the post office or $1 spent on stamps. SafeSend Returns also automatically sends clients reminders for quarterly payment vouchers and electronic K-1s. It won’t just save you $40 per return; it will wow your clients and save them money as well.

#2: TaxCaddy

Before managing returns, you have to file, and TaxCaddy adds efficiency and clarity to the first steps of the process. One of the big problems during tax season is your workload relies on receiving 1099s, 1098s, and W-2s from all of your clients. Simply waiting for these documents to arrive in the mail wastes precious time that could be spent on filing and reviewing. TaxCaddy gives you access to all of them the moment they’re issued, giving you the power to tackle tax season on your own timeline.

#3: SurePrep

SurePrep combines TaxCaddy with 1040Scan and SPBinder to streamline the 1040 process from start to finish. 1040Scan significantly reduces data entry time by automatically bookmarking, organizing and exporting data to your tax software. SPBInder simplifies the review process with workpaper sign-off alerts and ease of ease of use across multiple file types. As a suite, SurePrep makes filing taxes a much less daunting process.

#4: TicTie Calculate

Have you ever tried to finish a workpaper in Adobe Acrobat for hours, only to end up pining for the days of pen and paper? If so, then it’s time to start using TicTie Calculate (TTC). TTC makes Acrobat accounting friendly through features like automated bookmarking, digital calculator tapes, hyperlinked cross-references, a digital ruler, and more. It will allow you to complete workpapers paperlessly without unneeded hassle.

#5: SignatuteFlow

In 2014, the IRS approved the use of e-signatures through the use of Form 8879. SignatureFlow allows you to leverage this policy to complete the signing of documents in minutes. No matter where your clients are, they can sign documents electronically through their PC or mobile device. The software also allows for firm-wide tracking and reporting, sharing information with your team the moment it becomes available. You’ll never spend days waiting on a paper signature again.

With these tax tools, you can automate huge swaths of the tax process and make the rest of them much less unwieldy. Information, media, and transactions happen at the drop of a hat in 2018, so why should tax accounting be any different? With these cutting-edge tax tools in your arsenal, the next time somebody asks you what stresses you out most about being an accounting professional, you’ll have to come up with a new answer.

To demo automation tax tools click here to schedule and we will get you on the road to saving not only time but $40 per assembly.

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