august2022 - 14

2022 INNOVATION AWARD FINALISTS
CORVEE TAX PLANNING
Corvee Tax Planning software is a first-of-itskind
software that allows accounting and tax
professionals to scan their clients' tax returns,
collect vital information via custom individual
and business questionnaires, analyze estimated
tax savings across multiple entities and multiple
years, and prepare tax plan proposals and plans
for their clients - all within a matter of minutes.
Originally launched in October 2020, Corvee Tax
Planning software allows tax professionals to
save their clients' money in a way that allows
them to be the trusted advisor their clients are
looking for. In addition, in March of this year, the
company launched state and local tax planning
allowing firms to analyze client tax scenarios
quickly and easily at the federal and state level
for additional tax savings and state-specific tax
planning strategies, all within Corvee tax planning
software. Corvee tax planning software now
includes 1,600+ strategies that allow firms to save
their clients' money on taxes. Additionally, with
Corvee's team of tax experts, the company is
on the path to provide over 20,000+ tax savings
strategies in the coming years. Corvee tax planning
software now offers:
* Support for federal forms to calculate federal
tax owed
* Support for all 50 state and local forms to
calculate tax owed
* Support for 1,600+ state tax planning strategies
* Jurisdiction summaries for all 50 states with key
dates and deadlines
* Tax plan deliverable templates to show clients the
value of your state and local planning
* More affordable licenses for additional users (72%
reduction in per-user pricing)
FRESHBOOKS
According to 95% of small business owners,
FreshBooks is more seamless to use than other
platforms. Designed for accountants, small
businesses, freelancers, entrepreneurs, and businesses
with contractors, FreshBooks' software
makes accounting, billing, invoices, and expenses
easy and simple, saving people over 192 hours
annually. When it's easy for clients to manage
their books, it makes the professionals' work
stream more efficient, whether they are being
supported 365 days a year or during tax season.
FreshBooks gives insight to know where an
accountant stands with their clients, business,
and finances. FreshBooks Double-Entry Accounting
identifies revenue items and their related
expenses, giving accounting professionals a
calculation of profits and losses. Professionals
can track time in FreshBooks and see exactly
how much time they're spending on clients and
projects and generate an invoice with just one
click. In fact, New Zealand web designer Ahmed
Omer saves six billable hours every week through
FreshBooks. Clients are able to pay online,
which means the professional gets paid twice
as fast, improving cash flow and minimizing
headaches. Customers pay directly through
invoices and automatically record each payment
in your account.
Automatic checks and balances ensure debit
and credit amounts are equal, which reduces
the chance of errors year-round and when filing
taxes. FreshBooks also makes it easy for clients
to complete part of the workflow, meaning the
professional is able to take on a more advisory
role and develop deeper client relationships.
Communication and transparency is key for
client trust and engagement
HUBSYNC TAX PLATFORM
Nearly everything in today's world is easier, from
cashing checks, ordering food, online trading
and even dating. One necessity that isn't easy,
the outdated tax preparation process. There are
many point solutions, yet there is not a solution
for the tax professional. HubSync's fully digital
end-to-end platform solves this problem and is
digitizing and automating the whole process.
Seasoned tax professionals built HubSync so
they first solved the biggest pain points for tax
professionals. They've accomplished this by
building nine separate modules so firms can start
slow and build up the whole suite of platforms
seamlessly. No other platform brings all of these
pieces together. HubSync provides:
* Engagement Letter Automation- Simplify and
automate the tax prep process from start to finish.
* Client Master Data- Shared client data is the
14 AUGUST 2022 ■ www.CPAPracticeAdvisor.com
uniform set of identifiers and extended attributes
that describes the core entities of the enterprise,
including customers, prospects, citizens, suppliers,
sites, hierarchies, and chart of accounts.
* Tax Organizer- Smooth, digital client experience
for clients to upload documents directly
into HubSync.
* Workpapers- Tax return workpapers that provide
a standardized process, training and harmonization
of data.
* Tax Return Tracking- Real-time tax return status
updates with drill-down reporting.
* eSign- IRS 8879 automatically sent to clients for
e-signature and track in real-time.
* eFile Automation- Direct pull from tax return
prep software to track all electronic filings in one
location allowing practitioners to set up reports
to see their clients quickly.
* Tax Return Delivery- Automatically process client
deliverables and seamlessly send electronically.
* Planning & Analytics- Analyze your firm's
operations in real-time.
RUN - POWERED BY ADP
RUN Powered by ADP is a cloud-based, online
tool that simplifies processing payroll and
streamlines human resources tasks. In response
to small business demand, many accountants are
adding services, such as payroll and HR, to help
them grow their business and offset projected
revenue declines across the accounting services
industry (Source: IBISWorld, " Accounting Services
in the US, " October 2020). In addition, through its
own customer research on HR and payroll tools,
ADP learned small business owners wanted to:
* Stress less about errors and compliance; and,
* Have more time to focus on their businesses,
rather than on administrative tasks.
ADP listened and re-imagined the existing
RUN Powered by ADP offering in September 2021.
While maintaining the key functions that users
love - ADP introduced the following features to
the all-new RUN:
* Personalized dashboard - See what you need in one
view tailored to you, including your next payroll,
priority to-dos, and payroll history.
* Intelligent search - A smart search tool with
autosuggestions instantly connects you to
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august2022

Table of Contents for the Digital Edition of august2022
