What tax provision software is the easiest?
Tax Prodigy provision software organizes your legal entity structure, jurisdictions, and related income returns allows you to input each relevant fact only once. That fact is then available for use across the application. It is now just as easy to create a precise state rate calculation based on historical or projected apportionment as it ever was to “s.w.a.g.” a blended rate.
As you set up each non-U.S. jurisdiction you also enter the local country tax rates and each of the required currency exchange rates to enable automated currency translation including the always challenging “currency translation adjustment”. Finally, as the next period comes around, roll the corporate structure straight into the next provision cycle so you can focus on the things that matter instead of triple checking that the spreadsheet model didn’t break in the process.
ASC 740 mandates a balance sheet approach. Tax Prodigy provision software delivers it. But the way we get there is revolutionary. Tax Prodigy provision works the way you already work. Now you can put your information into an application purpose-built for tax professionals and designed to flow with your normal process. Once the information is in Tax Prodigy Provision, whether it is actual financial results or estimates, you only put each item in once and it available throughout the application and in each part of process. If late changes to the financials show up, simply drop in the new numbers in where it belongs.
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