1

Outsourcing Solutions for U.S.A. based CPA Firms

KMK provides back office support so that our clients, CPA firms and tax professionals can focus on strategically expanding their business.

Based on our extensive experience, we have realized that many Certified Public Accountants firms require a highly cost-effective support to function efficiently so that they can grow strategically.  At KMK, we provide back office support so that our clients, CPA firms and tax professionals can focus on strategically expanding their business.

We have tried & tested methodologies and process work-flows to support CPA firms with wide range of services including:

  • Tax Preparation
  • Bookkeeping
  • Payroll processing
  • Sales tax compliance
  • Other customized solutions

With our standard workflow that involve secured file exchange tools, trained staff, well defined work-papers and project management system for collaboration and communication; we will function as your well-oiled machine to deliver results during your busiest time of the year.  We will take care of your processing headache so that you can focus on your client relationships and growing your business.

We are working with our clients to provide tax returns preparation services for corporate returns including C Corp (1120), S Corp (1120S), Partnership firms and Limited Liability Companies (1065), Trusts (1041) as well as personal tax returns (1040).  Our team is very well versed with U.S. tax forms and instructions and regulations in order to provide best in class tax returns preparation services.

We assist our clients with our detail-oriented & methodical approach, specialized staff to process tax returns, and well defined work papers and processes.  We are confident to reduce your review time significantly which enables you to focus on adding more clients to your portfolio & expand your business.

Our internal organization processes ensure continuous learning for our staff so that we remain up-to-date while provide tax returns preparation services to our clients.  Our team is well updated with recent tax law changes due to The Tax Cuts and Jobs Act of 2017. Our streamlined training procedure ensures that our employees keep in pace with the latest technology, software and workflow processes to enhance on-the-job efficiency for tax processing. BPO outsourcing companies in India subscribe to online financial journals and buy various publications of CCH. Through 1040 outsourcing to India, you can avail tax processing services. Our 1040 prep outsource to India serves you with better management of your funds with optimum tax payment.

We provide CPA outsourcing services to USA. We offer innovative ways to CPA’s to manage their tax compliance and meet return filing deadlines. We profoundly examine our clients’ balance sheets and categorize each component including the profit and loss items. By getting done accounting outsourcing to India, CPA can easily interpret the taxability and treatment to various accounts. The observations made are then communicated to the client and are considered before final preparation of the tax return. Our services include:

  • Preparation and filing of tax returns
  • Services related to withholding taxes
  • Filing of e-income tax and e-TDS returns
  • Support services for obtaining PAN
  • Tax deduction account numbers

Bookkeeping is a very time consuming, tedious and low profit margin engagement for any CPA firm.  This is exactly where we can help & make this a profitable proposal for you.  Our staff is very well equipped with entire bookkeeping process starting from recording the transactions to preparing periodic financial statements.

We have set up processes to automate entire bookkeeping processes for our clients including:

  • Gathering all information such as bank statements, credit card statements, invoices, bills, deposit slip, cancelled checks and so on
  • Recording transactions and coding them into a general ledger
  • Prepare a list of open items that require additional information / clarification from the clients
  • Prepare and record adjustments to finalize books periodically
  • Prepare periodic financial statements and corresponding work papers to facilitate overall review process
  • Keeping a track of form W-9 for vendor payments and ensuring form 1099s are filed and issued in time
  • Proactively sending reminders for various due dates of compliances like estimated federal tax payments, sales tax payments, payroll tax payments & so on.

These processes along with our standard well defined work-papers; help our clients to save a lot of time.  Our staff is well trained with multiple accounting software including, QuickBooks Online, QuickBooks Pro, Buildium, Xero, SAP Business One, Oracle NetSuite, Sage, Zohobooks and so on.

Payroll processing is an integral part of bookkeeping process and it requires highly diligent efforts.  Accurate and timely payroll processing is important to remain in compliance with tax and other regulations as well as maintaining employee morale.  At KMK, we work with our clients to process payroll for their employees using payroll software such as ADP Workforce Now, PayChex, PayCom, etc.

We can assist with the following:

  • Set up employee master details in the software including name, address, tax residency, number of dependents, filing status, city tax applicability, deductions for medical and dental insurance, FSA, workers compensation coding, hourly wage rate or periodic salary rate and so on.
  • Maintain employee master details – We work with our clients to obtain periodic changes for employees and update them in payroll software.
  • Gather all processing information including timesheets, HR records including number of days off, sick days etc. to analyze and ensure that we provide compensation for these odd balls (such as sick days pay-out in NYC employees) and we deduct the amount for excess vacation days taken and so on.
  • Run payroll cycle and provide reports to clients for final review.
  • Submit payroll once we obtain approval from the client.
  • Ensure timely compliance and filing of returns including Form 941, 940 and state withholding and state unemployment returns.
  • Ensure timely issuance of Form W-2s and filing of W-3.

Sales & Use tax compliance is one of the important engagements for CPA firm.  Timely and accurate filing of sales & use tax returns is vital to ensure compliance and avoid any potential penalties.  We work with our clients to help them prepare and file sales & use tax returns for all states across United States.

We can assist you with:

  • Prepare standard work paper defining gross sales and taxable sales and sales tax liability for each applicable state
  • Prepare sales tax returns both online or via manual PDF forms
  • Track resale certificates on file and ensure compliance
  • Keeping track of all supporting schedules that reconcile with general ledger to ensure our client is “audit-proof”
  • Keeping track of all sales tax updates to inform our clients so that they may collect accurate sales tax from end customers

We work with our clients to perform agreed upon procedures based on client requirements.  CPA firms need to provide such support to their clients to ensure external third party checks and balance in their internal control system.

Some of the examples include:

  • Accounts payable support
  • Accounts receivable support
  • Conducting review & preparing work-papers for audit & assurance services
  • Management Information System Reporting including  – Analysis of financial statements, Cost analysis reports,  Budget vs. Actual financial reporting