Whitepapers

Read in-depth reports about SurePrep’s solutions and learn how 1040 automation can transform your tax practice.

Featured

Form 8949 Cryptocurrency Compliance for Your 1040 Clients

Solutions in Focus: TaxCaddy, 1040SCAN, SPbinder, Change Management
Is your firm ready to ensure accurate Form 8949 cryptocurrency reporting for your 1040 clients? If not, will you be ready by tax season? One of the defining market trends of 2020-21 was the mainstream surge in cryptocurrency. In the first half of 2021 alone, the total number of cryptocurrency users shot up from 106 million to 221 million, according to a July 2021 research report released by Crypto.com. Even if none of your 1040 clients reported cryptocurrency gains or losses on Form 8949 in the past, data trends indicate this will change as soon as next tax season.

Cryptocurrency is no longer a niche hobby for tech-savvy demographics. In a short span of time, it’s grown into a multi-trillion-dollar industry and shows no signs of slowing down. 1040 clients who report cryptocurrency assets will soon be a regular occurrence for firms of all sizes. Now is the time to prepare your firm with the right solutions.

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Guide to a Remote 1040 Tax Automation Workflow

Solutions in Focus: TaxCaddy, SPbinder, 1040SCAN
The unforeseen challenges of 2020 made having a remote workflow more vital than ever before. In this whitepaper, we break down how our 1040 tax automation solutions helped CPA firms navigate a difficult tax season while maintaining efficiency and minding the safety of their entire team. Combining SurePrep’s solutions allows everyone, including clients, to work together regardless of physical location.

Through a combination of client and staff-facing tools, we provide the infrastructure for a secure, streamlined, fully remote 1040 tax automation workflow that keeps everyone connected while staying physically apart.

From Whitepaper

E-Book: Why is Digital 1040 Transformation Important for Your Firm and Clients?

Solutions in Focus: TaxCaddy, 1040SCAN, SPbinder, Outsource
What if you could easily save up to 50-75% of reviewer time with a bespoke tax workpaper system and industry-leading scan-and-populate technology, automate data entry for 2/3 of source documents with 100% accuracy without human verification, and transform the tax season experience for your clients like they’ve never thought possible? You can. The question is, what’s stopping you?

We reduced the time spent on inefficient tasks and elevated the role of our tax professionals, all while delivering the highest level of service to our clients.

Matt Becker, National Tax Managing Partner with BDO

Reduce costs and optimize productivity with a combination of software and service

Solutions in Focus: 1040SCAN
Although Outsource results in a fully prepared tax return, a full preparation service isn’t what all firms are looking for. 1040SCANverify is a more affordable middle-ground between 1040SCAN PRO and Outsource where our team handles the OCR verification. It can accomplish 80% of the work for 20% of an average outsourcing cost, which is why it’s our most popular and fastest-growing option.

We have our staff review, which makes the final review for the manager and partner much easier and faster. We don’t have to go back and verify every single aspect of the return. We can concentrate on the big picture.

Ray Abramson, Abramson & Co., LLC

Planning the Implementation of Mobile 1040 Tax Technology

Solutions in Focus: TaxCaddy, Change Management
Forward-thinking tax professionals are constantly searching for ways to improve their internal processes and enhance the client experience. Today’s mobile 1040 tax technology provides an opportunity to accomplish both. Here we examine how other industries adopted mobile technology to boost customer satisfaction and how CPA firms can do the same with our award-winning client collaboration platform, TaxCaddy.

TaxCaddy made the process less stressful. It was easy to upload my documents and message my tax professional, and I was less stressed about tax time because I had started organizing documents earlier so everything was done.

Allison Beito, a user of TaxCaddy

Maximize Review Efficiency with SPbinder's Workpaper Leadsheets

Solutions in Focus: SPbinder
In the days before digital tax workpaper software, it was a common best practice for preparers to tie amounts on 1040 tax returns to their related source documents with workpaper leadsheets. SPbinder is the first and only tax workpaper software that fully transitions leadsheets into the digital age. It lets users track changes and cross-reference all file types, paving the way for a smooth and efficient review.

Some SurePrep clients use leadsheets only for their most complex returns, while others use leadsheets for all returns to enforce a standardized process. SurePrep’s experts help firms choose the approach that’s right for them.

From Whitepaper

Your 1040 Clients Want Mobile Options. Are You Delivering?

Solutions in Focus: TaxCaddy
Today, taxpayers expect the same convenient, mobile options from their CPA firm like they use with other financial service provides such as banks and brokerages. Clients want to collaborate digitally and with mobile apps. That’s why SurePrep developed a unique digital platform to accommodate them and simplify tax time for your team.

Being able to take pictures of my documents and automatically upload them into the correct category with the TaxCaddy iPhone app was a game changer! The whole process is so easy and makes tax prep a breeze.

a User of TaxCaddy

5 Key Components of a Successful Scan and Populate Process

Solutions in Focus: 1040SCAN, TaxCaddy, SPbinder
The 1040 tax return process has always followed a common pattern. Documents are gathered, the workpapers are organized and prepared, the workpapers are reviewed, and finally the completed return is delivered back to the taxpayer. Although this workflow remains constant, the efficiency in which it can be accomplished is constantly evolving.

Firms that utilize [SurePrep solutions] benefit at each phase of the tax return process. Administrative costs are reduced. Workpaper preparation is automated, review efficiency is maximized, and client service is improved.

From Whitepaper

Boomer Advantage Guide to Simplifying Tax Time

Solutions in Focus: TaxCaddy
In this Boomer Guide we break down the importance of flexible and innovative digital 1040 solutions and why TaxCaddy is the ultimate collaboration tool for tax professionals and taxpayers. Included are several case studies and a bonus discussion on how SurePrep clients were able to leverage TaxCaddy to navigate the COVID-related challenges of the 2020 tax season.

When a client uploaded their documents and we could submit them to 1040SCANverify the next day and have a return that’s 80% done a day later, that’s a huge time savings over how we used to do things.

Tony Marinucci, Marinucci & Associates, LLC.

Keys to Success for Tax Automation and Outsourcing

Solutions in Focus: 1040SCAN, SPbinder, Change Management
No matter the size of the firm or experience level of the staff, all tax professionals can relate to the feeling of stress and workload compression during peak tax season. We interviewed a variety of firms to understand how they prevailed under these conditions. What they had in common: 1040 tax automation and outsourcing.

As we conducted the interviews, we found that we needed to add the use of ‘outsourcing’ to the study because firms were not only automating their internal processes, but often actually outsourcing much of the preparation of a return.

Donny C. Shimamoto, CGMA

The 6 Fundamentals of Paperless Tax Workpapers

Solutions in Focus: SPbinder

If Tax Document Automation only saves time at the preparer level, it will actually reduce leverage. Requiring staff to prepare well documented workpapers will reduce review time and increase leverage. But staff can only do that if given the right tools.

From Whitepaper

The Flexibility of Paper in a Paperless Environment

Solutions in Focus: SPbinder
This whitepaper examines the five key elements of a fully automated 1040 tax workflow. Review what to do and what not to do within each section for guidance in developing a highly efficient paperless 1040 tax process. Elements include proper scanning hardware, the scanning process, multiple monitors, the importance of planning & training, and workpaper & workflow flexibility.

An automated process sets a firm up for a completely paperless tax workflow and makes easy work of indexing individual pages within digital workpapers for fast and efficient preparation and review.

From Whitepaper

Managing The Change To Automated Tax Workpapers

Solutions in Focus: Change Management
The benefits of paperless tax preparation are clear: automating data entry and workpaper organization is far more efficient than manually processes. But without proper planning, your firm may not get the most out of its digital process. This whitepaper outlines a five-phase change management approach and includes a tool kit you can use to plan, implement, and sustain the transition to a paperless 1040 tax workflow.

It’s tempting to believe your firm can acquire a solution and the efficiencies will roll in. But successfully evolving the way your firm does business takes a managed approach.

Raj Kapur, Center for Project Management

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