Take Your Tax Practice to the Next Level with Lacerte Tax Software

Taxes are an inevitable part of life, and for decades, individuals and businesses have relied on manual tax preparation methods. This meant hours of number crunching, double-checking calculations, and sorting through paperwork. However, with technological advancements and the availability of tax software, tax preparation has become much easier and more efficient. The software have transformed the way taxes are prepared, making the process faster, more accurate, and less stressful. 

If you are looking for the most suitable tax software, you might have already done the required research. One such popular tax software that has gained immense popularity is Lacerte. Developed by Intuit, Lacerte has been in the market for over 20 years, providing accountants and tax professionals with a comprehensive suite of tax preparation tools. From individual returns to complex corporate filings, Lacerte tax software caters to the needs of every type of tax professional. 

In this blog post, we will delve deeper into the features and benefits of Lacerte tax software, and how you can leverage it maximally by hosting it on the cloud. 

What is Lacerte Tax Software?

Lacerte tax software is a comprehensive suite of tax preparation tools developed by Intuit, designed to cater to the needs of tax professionals and businesses. It has been in the market since 1998 when Intuit acquired Lacerte Software Corp., making it one of the most trusted names in the industry. 

With Lacerte, you can streamline tax preparation processes to save time and effort. It provides a wide range of features that enable users to prepare tax returns for individuals, corporations, partnerships, estates, trusts, and more. The software is updated every year to keep up with the latest tax laws, ensuring that businesses are always compliant. 

One of the key benefits of Lacerte software is its user-friendly interface, making it easy for even non-experts to use. It also offers advanced features such as e-filing, which enables businesses to file their tax returns electronically, saving time and reducing errors. Additionally, Lacerte allows businesses to store and access their data securely, ensuring that confidential information is protected. 

Top Features of Lacerte Tax Software You Should Know

Comprehensive Tax Preparation Tools

Lacerte tax software offers a wide range of tax preparation tools that cater to the needs of individuals, corporations, partnerships, estates, and trusts. Its intuitive interface makes it easy for users to navigate, and its advanced features ensure that businesses are always compliant with the latest tax laws. With Lacerte tax software, users can prepare and file their tax returns with ease, saving time and effort. 

E-filing and Electronic Signature

Lacerte tax software allows users to file their tax returns electronically, eliminating the need for paper filings. This feature saves time and reduces errors, as users can submit their tax returns with just a few clicks. Additionally, Lacerte tax software offers electronic signature capabilities, enabling users to sign their tax returns electronically, further streamlining the filing process. 

Real-time Diagnostic Checks

Lacerte software provides real-time diagnostic checks, allowing users to identify and resolve issues before submitting their tax returns. This feature helps to reduce the likelihood of errors and ensures that businesses are compliant with tax regulations. With Lacerte by your side, you can rest assured that the tax returns will be accurate and free from errors. 

Time-Saving Data Entry Tools

Lacerte tax software offers time-saving data entry tools that enable users to enter data quickly and accurately. The software’s intuitive interface makes it easy to input data, and it also offers features such as auto-fill, auto-calculation, and drag-and-drop functionality. These tools help in reducing errors and save time during the tax preparation process. 

Integration with other Intuit Products

Lacerte tax software seamlessly integrates with other Intuit products such as QuickBooks, ProConnect, and TurboTax, enabling users to streamline their financial processes. The integration allows users to import data from QuickBooks and other accounting software, reducing the need for manual data entry. Additionally, this tax software enables users to export data to TurboTax, making it easy for individuals to file their tax returns quickly and accurately. 

E-Organizer

Lacerte's e-organizer feature allows you to collect client data securely and electronically. It eliminates the need for manual data entry, reduces errors, and saves time during tax preparation. The feature includes customizable questionnaires that can be completed by clients, making it easy for you to collect accurate data.  

Form Library

Lacerte software's form library feature provides users with access to a comprehensive selection of tax forms and schedules. The library includes federal, state, and local tax forms, ensuring that users have access to the forms they need to prepare accurate tax returns. The form library is updated regularly to reflect the latest tax laws, ensuring that users are always compliant. 

Trial Balance Utility

The trial balance utility feature of this software enables users to import financial data from accounting software such as QuickBooks, simplifying bookkeeping and reducing errors. The utility automatically creates an organized trial balance report, making it easy for users to review and adjust data. It also allows users to map account balances to tax lines, hence streamlining the tax filing process and reducing the likelihood of errors that may occur because of manual data entry. 

If you want to know more about its features, you can read this blog. 

Level Up Your Tax Firm’s Productivity with Lacerte Cloud Hosting

Consider the following situation to understand this better - 

Being a tax professional, you've just received a call from a client who needs to file their tax return urgently. You're away from your office and don't have access to your desktop computer with Lacerte software installed. You're worried about how you'll be able to help the client in time. 

This is where Lacerte hosting comes in. By hosting Lacerte tax software on the cloud, you can access it from anywhere with an Internet-connected mobile device and help your clients on the go. Lacerte cloud hosting allows you to do much more than this. Let’s find out. 

Work From Anywhere, Anytime

By hosting Lacerte on the cloud, you can access their tax data from anywhere using a mobile device. This enables you to work remotely and improve your work-life balance. Additionally, cloud hosting eliminates the need to install the software on individual computers, thereby saving time and improving accessibility. 

Data Protection with Advanced Security Measures

Cloud hosting providers typically invest in advanced security measures such as firewalls, data encryption, and multi-factor authentication, providing their clients with enhanced data protection. This ensures that your data is secure and compliant with industry regulations, such as HIPAA and SOC 2. Additionally, they also offer 24/7 monitoring and support, providing you with much needed peace of mind. 

Adjust Computing Resources as Needed

Lacerte cloud hosting allows you to adjust their resources as needed, ensuring that they have the computing power they need to run the software efficiently. This is particularly useful for periods during which you experience fluctuations in workload, enabling you to scale up or down as needed. Additionally, cloud hosting eliminates the need to purchase and maintain expensive hardware, reducing costs. 

Improved Team Collaboration

By hosting Lacerte software on the cloud, you can collaborate more effectively with the team members and clients. The underlying cloud environment enables multiple users to access and work on the same tax returns simultaneously, thereby improving collaboration and reducing the time it takes to prepare and file the return. Additionally, it allows users to share files and data securely, making it easy to collaborate with remote team members or clients. This is quite useful if you want to switch to a fully remote or hybrid work environment. 

Automatic Backups and Updates

Most renowned cloud hosting providers like Ace Cloud Hosting typically offer automatic backups and updates, ensuring that users' data is safe and up-to-date. This reduces the risk of data loss due to hardware failure or human error and results in peace of mind for cloud users. Additionally, automatic updates ensure that you have access to the latest features and functionality of the software and work with improved efficiency for various tax preparation tasks.