Just the date conjures up images of dread for many Americans.
For some, as Dan Ariely of the Wall Street Journal opines, it causes us to become liars:
Pew Research estimated that the IRS lost about $270 billion dollars for tax ‘underreporting’ in 2010. I tend to agree with Will Rogers, who once said, ‘The income tax has made liars out of more Americans than golf.’
And for others, the date itself causes an increase in stress and maybe even death.
A 2012 study by Donald Redelmeier and Christopher Yarnell of the University of Toronto’s Sunnybrook Research Institute, published in the Journal of the American Medical Association, found that over the past 30 years, fatal road crashes increased by about 6% on April 15 compared with other days. The authors chalk this up to stress.
Of course, Benjamin Franklin once famously equated the certainty of taxes and death, so we should not be too surprised that the former might lead to the latter.
But tax season need not be that stressful, and COATS Staffing Software helps alleviate much of that pain.
COATS tracks taxes in tables which are attached to employee and client records and are automatically linked at the assignment level. In doing so, the system ensures you have the right taxes for the right employees and alerts you otherwise.
Not only is this more efficient and accurate, but it will also save you money. By having everything done in-house it saves you from accountant time for tax management and all the employee financial answers are right at your fingertips.
“Using staffing software is a necessity to track our associates and the taxes that we owe,” said Connie Krumm, Controller of Monarch Staffing in Springfield, Pa. “And using COATS Staffing Software in particular allows us to have a one-stop application for all our tax management needs. The COATS support that we receive is top notch. They are always up to date with the ever changing tax filing codes – which, as we all know, can be very daunting – making the filing of payroll taxes easier. I have full confidence in their staffing software and their support team!”
COATS is a fully integrated system; taxes in the back office are shared with the front office. This means one financial software allows you to answer all questions from one system; and prevents you from jumping between multiple databases of information.
Taxes are stressful enough. Working with COATS makes tax time much easier.