How NetSuite Accountants Help You with Tax Season

March 28, 2023
Taxes written on glasses on a green paper. Image representing the assistance provided by NetSuite Accountants during tax season.

How can NetSuite accountants help you this coming tax season?

  1. They ensure that all your necessary tax forms are completed on time
  2. They can guide you with the tax filing system
  3. They can prepare and file your tax returns
  4. They can guide you about our tax laws and regulations

With April just around the corner, many accountants and companies are bracing themselves for another season. No, this is not the smooth breeze of the spring season, but tax season!On April 18, 2023, all taxpayers are required to file and submit their federal income taxes to the Internal Revenue Service (IRS). That means many accountants in companies and firms are crunching the numbers and working double time.Over the years, manual computation and processes have many professionals nervous about their submissions. Fortunately, NetSuite accountants can help you prepare with all of these. They can offer you their accounting services to help you ease up on tasks with the help of NetSuite’s accounting software.This blog shows you how Atticus Solutions’ NetSuite accountants can help with your tax season. Read on to learn more.

They Ensure that All Your Necessary Tax Forms are Completed on Time

They Ensure that All Your Necessary Tax Forms are Completed on Time

Your tax season could be flawless if all your essential documents required for tax filing are prepared on time. However, it’s difficult when they’re not organized.Many individuals tend to misplace important documents even when put under lock and key. Thanks to ERP software, these mistakes can easily be avoided since all files are secured on the cloud.NetSuite accountants can help you properly store these tax documents including the W-2 form from employers, earning and interest statements, and even receipts of business expenses. These professionals have mastered the complex ERP solutions so they can make sure you have complete records of financial transactions and the necessary forms.To give you an overview of the taxing filing process. Here are some of the requirements needed for this submission:

  • Social security numbers
  • W-2 forms
  • 1099 forms
  • Retirement account contributions
  • Property taxes (if any)
  • Charitable donation (if any)
  • State and local taxes paid by the company
  • Education expenses (if any)
  • Unreimbursed medical bills
  • Last year’s federal and state tax returns

Imagine compiling these for all employees of a company. That’s why NetSuite accountants use the software to their advantage. They make sure all these documents are stored and filed on the digital cloud to make sure all requirements are present for future filing dates.

Download the Salary Guide to compare average salaries of top NetSuite ERP professionals.

They Can Guide You with the Tax Filing System

More often than not, many encounter technical issues with the online tax filing system, leading to errors or delays. When this happens, you may need to send the IRS a request for a six-month extension. If you fail to do so, your company may even suffer penalties.With the help of our NetSuite accountants, you can have more hands on deck to accomplish this task. There are many ways to file tax returns, but the quickest way is through accounting software. This is where their expertise comes in!NetSuite accountants are trained to use the NetSuite Tax Management to stay up to date with various legislation changes. This provides them with the flexibility needed to support specific countries’ needs. They can configure the tax calculations and report depending on each country.

They Can Prepare and File Your Tax Returns

They Can Prepare and File Your Tax Returns

The preparation of an income tax return can be the most tedious part of the job. Some companies may not make the deadline, resulting in payment of penalties. On the other hand, if you overpaid your tax liability then you’ll likely get a delayed refund.With the SuiteTax feature of NetSuite, our accountants say goodbye to manual calculations. Instead, they use the software’s built-in tax logic to run calculations for the country’s tax jurisdiction.

They Can Guide You about Different Tax Laws And Regulations

Tax laws can be overwhelming to many individuals. The reality is you may not even be familiar with them. That’s why companies relied on certified professionals during this important season of the year. An unclear understanding of our tax laws can cause you to misinterpret or overlook certain requirements, affecting your tax returns.At Atticus Solutions, our Filipino NetSuite accountants will take the time to walk you through the different requirements needed and why this is necessary. You can expect them to be detailed and patient with you as they answer your questions.

Key Takeaway

With expertise in complex ERP software, NetSuite accountants can make this tax season a breeze from preparing all the forms to filing the taxes on the software. They make sure all details and requirements are completed even before the due date!This may just be the year where you experience submissions that are free from errors, penalties, and legal issues. If you’re looking for skilled Netsuite accountants in the Philippines, partner with Atticus Solutions today! Let’s discuss your inquiries by getting in touch with us here.

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