In recent years, due to the fast expansion and growth of companies worldwide, many business owners and managers are looking to outsource some key activities such as Accounting, Tax Filing, Payroll, and Talent Acquisition, among others. This is due to a constant need for fast, reliable solutions, and cost reduction while tackling workload and giving companies access to specialized professionals.
Working with an Accounting and Tax Filing Outsourcing Service also gives you the benefit of being able to expand rapidly overseas while reducing risks and costs, given that when considering foreign expansion is better to rely on a local firm that has proven knowledge in your areas of interest, rather than hiring new employees and dealing with additional responsibility such as payroll costs, legal documentation, micromanagement, and possible incompetence. Especially in Tax and Accounting, where issues do not necessarily arise immediately but can take months or even years for problems to surface if the work has been completed wrongly. Why risk it?
Would you like to outsource the Accounting of your company? What Tax Filing Services can be outsourced? What are the benefits of outsourcing? How can outsourcing the Tax Filing and Accounting of my company benefit me and my team? These are some questions that we answer below.
What are some of the benefits of Outsourcing the Accounting and Tax Filing of your company?
Access to professionals with experience in different areas, industries, and countries
Outsourcing the Accounting and Tax Filing of your company will give you access to a group of professionals with years of experience that is going to work in order to complete all tasks and assignments in the most successful, cost-efficient way, always complying with all local laws and regulations.
Take off some workload from your team
The Accounting and Tax Filing tasks of a company can be a nightmare, it requires processes, revisions, and a group of people working on certain assignments. This can cause them to leave some other important tasks behind and lower the productivity of the team. Outsourcing the Accounting and Tax Filing will give your team time to focus on other important areas that can lead to the growth of the business.
Have access to tools, programs, and processes that will benefit your business
Companies that offer outsourcing services are specialized in those areas, therefore, they work with modern software, and programs, and have improved their processes in order to offer the best service possible. This benefits both the outsourcing company and the client since they see the results of these new improvements.
Outsourcing the Accounting and Tax Filing of a company reduces the costs by around 30% to 75%, depending on the size of the business. Handling these tasks in-house can require a team of accountants working full-time, which can be expensive.
The most common option
It is estimated that around 1/3 of small companies and start-ups outsource their Accounting and Tax Filing tasks. This allows them to expand and focus on other projects that are going to promote their growth.
Accounting and Tax Filing Outsourcing in Latin America
These are only some of the services that our company assists with, considering that we can take care of the whole cycle of the accounting and tax process of your company, tailored to each individual country.
A/R and A/P Management
Provisions: Fix assets, insurance management
Government Tax Filings
Income and Expenses Report
Standard Balance Sheet and Income Statement
Filing of documentation
Accounting standards are based on the current tax legislation of each country
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