With the September and October 15 corporate tax deadlines not too far in the distance, many Corporate Tax Directors are in the process of assessing their internal resources to ensure they’re well-positioned to meet early fall’s tax compliance deadlines. Hiring external resources can be an efficient, cost-effective solution, assuming these interim professionals can quickly and easily integrate into your company’s workflow and processes. How do you get to the bottom of whether a tax outsourcing services provider can meet your needs and provide the much-needed support and resources to your company at a critical time? Here are a few questions you’ll want to address – and factors to consider – when hiring external corporate tax help.
- Do they understand your company’s tax structure and issues? Whether you’re doing business domestically or internationally, how your company’s various entities are structured, whether you’re doing business across state lines – the better an understanding your service provider has of your organization and your needs, the more efficient they can help you.
- Does the professional assigned to your job have experience in the work assigned to him or her? Are you looking for someone who can augment your existing team’s efforts or a management level professional who will be tasked in reviewing your team’s work?
- Are they well-versed in the tax software your company uses such as RIA OneSource, VantageTax, CCH ProSystem fx and Tax Stream? Having hands-on experience with the tax software you use is key in getting temporary team members up and running quickly and contributing to your effort.
- Will they work remotely or are they local? If they are going to work remotely, what are the related IT/security issues that you may need to address? If working remotely is not an option, can you negotiate a reduced travel time fee to cut down on costs?
- Are you aware of any planned leaves scheduled during the coming year? Planned medical leaves or sabbaticals provide you an opportunity to anticipate potential staffing shortages and work closely with your tax outsourcing provider to identify the “best-fit” professionals for your needs.
- If the need is unanticipated, does your service provider have ample professional staff ready to be deployed? Keeping your company on track – whether it’s due to an unforeseen departure or outside circumstances affecting your workload – is a must. Your chosen tax outsourcing provider should share your sense of urgency and commitment to getting the job done.
Whether your needs are immediate or planned, straightforward or complex, RKL has the talent and resources to help your company succeed. Learn more about our Tax Outsourcing Services or contact your RKL advisor for more information.
Contributed by Geneva R. Sauder, CPA, a manager in RKL’s Tax Services Group. Geneva serves the needs of companies primarily in the manufacturing, real estate and retail industries and has experience dealing with multi-state tax issues, accounting for income taxes and compliance for consolidated C-corporations and pass through entities.