Tax Preparation

1.    Where do I send my tax information to have a return prepared?

ANSWER: You, or an administrative assistant, can send the information to us by fax or as an e-mail attachment. This way you retain possession of your original documents and we just get the digital copy. Locally, in Northern Nevada, we can stop by and pick up what you have if you are within a 100 mile radius of Reno, at no additional charge. You can COPY your original documents and send these copies only along with your comments, information and notes to us by mail. See the “Contact Us” section of this web site for details.

2.    How long will it take to have an accountant prepare my return half-way around the world?

ANSWER: Once you approve, usually by e-mail, our final reconstruction of your input information, figure about 3 to 5 business days on average.

3.    Can you prepare my state tax return?

ANSWER:Yes. We can prepare returns for any state in the United States along with your federal return.

4.    Do you do business, estate and trust tax returns?

ANSWER: Our targeted demographic is the business-person running his/her own business, willing to take advantage of technological innovation and outsourcing,  wanting a 1065 or 1120 return prepared by an accountant but desiring to save more than half of what an accountant in Northern Nevada is currently charging.  We also do estate and trust tax returns along with your personal 1040, be it a simple or a very, very complex return.

5.    Would I need technical staff to carry out my tax return preparation process?

ANSWER: The whole purpose of outsourcing is to save money. All that you would have to do is use an administrative assistant to scan documents, save and then send the saved file to us in an e-mail or fax. We process your information for you.

6.    What are the benefits of outsourcing tax return preparation?

ANSWER: Outsourcing will enable you to obtain timely and accurate information by relying on a professional’s core competency. You will get the best results from the latest technology. You will save money. You will be able to focus on your core competencies and free up resources to concentrate your effort in your core area of expertise – your business. But obtaining access to a larger number of skilled personnel at reduced cost is the real carrot for you and your business that using our service provides.

Bookkeeping

1.    How does your bookkeeping service work?

ANSWER: We offer you half-time and full-time bookkeepers depending upon your requirements. A half-time employee would be available to your for 4 hours a day, while a full-time employee would work on your files for 8 hours.

2.    How do your bookkeepers access the accounting data?

ANSWER: Our bookkeepers can work in two ways. ONE, by logging on to your system and completing the work there or TWO, by downloading work to their server, completing it and uploading it back to your server. We would provide you with a login to the server to enable uploads and downloads via our secured website. This site is secured by SSL – 128 bit encryption.

3.    We understand that people are charged based on time. Would it be possible to know the time taken on each task?

ANSWER: We would send a weekly log and status report to you, describing the work done and the time taken to complete each task. This log can be suitably modified to meet your internal time management practices. For example, if you use software such as Practice CS or Timeslips, our staff would use the same.

4.    What are the bookkeeping deliverables that we would get sent at the end of an assignment?

ANSWER: Typical accounting deliverables would be a set of financial statements comprising of:

a.    Balance sheet
b.    Statement of Income/Loss
c.    Accounts Receivable
d.    Accounts Payable
e.    Depreciation Report
f.    Bank Reconciliation Report
g.    Payroll Reports for the Period
h.    Exception Reports: specifically generated manual reports in case of deviations from stated norms.

5.    Specifically, what are the bookkeeping capabilities that the outsourced accountants specialize in?

ANSWER: The functional capability in bookkeeping includes:

a.    Chart of Accounts design
b.    Document Management
c.    Preparation of Financial Statements
d.    Audit Support Procedures
e.    Business Plans, projections, cash flow and liquidity analysis
f.    Expertise on various software like Quickbooks, Creative Solutions, Accounts Relief, Client Ledger Systems, etc.

6.    How do the outsourced accountants ensure preparer expertise?

ANSWER: We realize that the process of quality service delivery depends on the caliber of people involved. The outsourced accounting firm trains its bookkeepers with utmost care and ensures that they have requisite knowledge of US processes and laws. Bookkeepers are constantly updated on the same through regular sessions. Reviewers are qualified chartered accountants and MBAs.  Checklists and documentation are also developed based on the work done and feedback received to ensure continuity in process and prevent personnel dependencies.

7.    What are the advantages of outsourcing bookkeeping input?

ANSWER: We take over training requirements and thus relieve you of training hassles. Our processes are visible and transparent to CPAs. Conference calls are initiated throughout the first month of the engagement so that the CPA can talk directly to the person managing his account. Phone numbers are also provided so that the CPA may contact the bookkeepers at any time. Data security is of paramount importance to us. Stringent security policies at our off-shore work facility are in place. Communication protocols are established at the very beginning of the engagement. Our accounting staff has a policy of immediately responding by e-mail to any query received from a client. We ensure that we are always open and available to our clients. Besides all of this, remember why you are outsourcing: to save money and free up your valuable time.