The tax preparation business is an ever-growing industry and, at least for the first few months every year, can seem to never have enough knowledgeable professional tax preparers for the influx of clients seeking tax preparation help. Considering the tax preparation industry as a whole saw a revenue of nearly $8 billion in 2014 alone, and is forecasted to continue growing year after year, this is an industry to get on board with quickly! However, before you dive straight into planning your own tax preparation business, let’s talk software.
Tax Return Software
Thanks to the modern technology age, it’s easier than ever to go through all the steps of tax return filing digitally and at your own pace. With most tax return software, you simply log in with your unique user ID and the system will prompt you to pick up where you left off. For so many people who get frustrated and overwhelmed when trying to input all the information accurately, tick all the right boxes, and find all the appropriate exemptions or deductions, being able to stop and start as much as they want is a welcome feature.
In addition, most tax return software helps walk you through every step of the tax return filing process, whether you are a professional tax preparer or filing taxes for the first time. The best tax return software options will not only securely save all of your information, it will guide you through the process of entering your income information, ask you about life circumstances that could lead to potential deductions, and generally make the process as seamless and simple as possible.
Of course, that’s not to say that tax return software is without its faults. First, and most importantly, any tax return software is only as good as the information it is given. This means knowing which information goes into which box, diligently checking for typos on every page, and understanding what the software is asking you to do. It’s this last part that most often gives people trouble. If you aren’t well-versed with tax filing terminology or don’t stop to read each prompt carefully, you could miss out on deductions you’re qualified for and end up paying more than you need to when you submit your return.
Tax Return Software for Professionals
If you’re a professional tax preparer, you probably read that last list and scoffed a bit. After all, you’re trained and know your way around a tax return. If you’re on the hunt for the best tax return software to aid your tax preparation business, you will obviously have different concerns than the average consumer. However, that doesn’t mean you ought to simply pick the first tax return software you come across. How easy or complicated specific software is to use can make a big financial difference for your business. If you have a question or IT support, do you have a designated contact you can call? An IT issue with your software can set you back hours, potentially cost you clients, and impact your bottom line—and it may not even be your fault! During tax season especially, time is money, so you need to be sure your software will pull its own weight and, if something does go wrong, that you know you can get help when you need it.
This is where Umbrella Financial Services comes in. We offer the best tax return software for professional tax preparers hoping to start their own business. With our software comes everything you might need to get your tax preparation business off the ground quickly. Get IT and back office support when you need it, in both English and Spanish. Need training before you get started? Umbrella Financial Services offers both ownership training, to help your business be a success, and I.R.S tax law certification so you have the knowledge needed to navigate our software easily. File tax returns securely and digitally with our website and phone app, and even use our digital software to keep in touch with your clients!
Learn about these and all the other benefits to becoming an Umbrella Financial Services affiliate partner. Contact our knowledgeable team to get more information or get started with your own tax preparation business today!