Looking to fuel your tax prep business, particularly during the busy tax season? Bank products are a notable option to add to your services provided. A win-win for both clients and tax preparers, bank products offer many benefits and help clients manage
their finances and taxes more effectively.
Let’s take a look at Sigma Tax Pro’s bank products and their benefits, as well as TPG products and other popular bank products that can help skyrocket client satisfaction and leverage your tax preparation business.
What Are Bank Products for Tax Preparers?
Bank products are services that allow clients to have their taxes done and also have their tax prep fees taken out of their refund, while allowing tax preparers to easily receive fees. These financial tools and services include prepaid debit cards, checking and savings accounts, as well as credit cards.
Bank products assist taxpayers in managing their taxes and finances effectively, while helping tax preparation businesses expand their client base. Offering bank products helps tax businesses to easily collect tax preparation fees, add revenue, and provide client satisfaction.
Benefits to Tax Filers and Tax Preparers
Benefits For Tax Filers
- Quick access to funds — By having their refunds deposited directly into their bank accounts or onto a prepaid debit card, clients can receive their tax refund faster than a check that’s mailed via USPS or other means.
- Cash advances — Rather than wait for the entire refund to be deposited into their account, clients can typically receive cash advances on their refund for immediate use.
- Financial flexibility — Taxpayers who can’t afford to pay upfront for their returns to be completed can still have them prepared early and deduct the fees from their refund.
- Multiple disbursement options — From checking and savings accounts to prepaid debit cards and checks, money is routed to clients seamlessly through a variety of disbursement options.
- No upfront fees — With bank products, clients won’t be required to pay preparation fees upfront, since preparation fees are automatically deducted from refunds.
Benefits for Tax Preparers
- Safer collection of fees — Bank products allow clients to deduct fees from their refunds, regardless of their method of payment.
- Client satisfaction — The refund process is quicker and more convenient for clients since they don’t need to worry about their refund being delayed.
- Stand out in the competitive tax market — Bank products enable preparers to advertise speedy refunds with no upfront fees, which are commonly a big selling point.
- Revenue sharing — Some banks may offer revenue-sharing models with tax preparers, generating additional income for businesses.
- Increased client base — Bank products allow tax preparation businesses the ability to see which clients cannot pay upfront, which results in much less time chasing fees.
Exploring TPG Products
TPG (Santa Barbara Tax Products Group) offers tax professionals the ability to market, manage, and grow their business with multiple resources, products, and services. Trusted by tax professionals nationwide, TPG products include Tax Pro Advances, TPG Refund Transfer, Cash Refund Advances, AutoCollect, and more. Plus, TPG offers Marketing Pro, which is a digital platform that’s designed to help preparers seamlessly manage business and marketing.
How PayDash Improves Tax Prep Operations
PayDash bank product solutions are designed to help tax preparers expand their business and manage offices with confidence. With straightforward solutions for clients — cash advances, convenient refund disbursement options, and more — PayDash simplifies the tax preparation process and ensures smooth transactions, leaving both the preparer and clients highly satisfied.
Refund Advantage: A Competitive Edge for Tax Professionals
Refund Advantage helps tax professionals stay competitive with tax offices in their market. Included are plenty of solutions and options, such as Refund Transfers, Taxpayer Advance Loans, and Tax Office Loans, Refund Advantage strives to help independent tax professionals take their businesses to the next level by increasing revenue and decreasing expenses.
Sigma Tax Pro provides a full range of products and services for tax professionals, including industry-leading software solutions, tax preparation support, and comprehensive options, at the lowest prices available. Reach out to Sigma Tax Pro today to learn more about using the best software for tax preparers.
