Smart Phone Tax Application Essay

2667 words - 11 pages

Mobile phone applications have come to the rescue of the technology world offering global solutions to the corporate world in business and individual entities in a number of ways. Specifically, smart phone applications are currently developed to meet the market goals of simplifying and speeding up the way in which transactions are made. The technical growth has been promoted by enabling mobile platform that calls for developers to design applications meant to assist businesses and individuals. One such app is the tax filing application.
This paper therefore seeks to identify strengths and weaknesses of smart phone tax application and its equivalence in the market specifically (Thomson Reuters).

Thesis Statement
Tax filing process is the new technology that is faced with major challenges and now is embraced in smart phone platform to simplify and ease the amount of time and resources involved.
Many organizations feel that tax benefits are incredible if incorporated in their businesses, but majority do not take the advantage of emerging technologies to cut down on costs. However, to record good amount in yearly taxes, organizations may be forced to employ simple techniques that boost use of resources and effect rate of revenue utilization. In the vast technology world, firms and companies invest heavily on network and internet based facilities helping them work efficiently and effectively while reducing costs involved. They ignore money and time spent on tedious process of reporting on taxes.
In the network marketing industry, businesses can create great income by cashing in on tax benefits available to them. An application like Deductr makes it possible, easy and simple for any business entity to get tax breaks entitled to them and the application is virtually automated. It supports self-generating report at a click of button, giving the summary of tax year report.
Thomson Reuters Company
Background information
Thomson Reuters Company was founded in 1934 as a channel for passing information, and has since grown to be the world’s leading source of intelligent information for business and professionals. The company delivers critical information to leading decision makers in the financial, legal, tax and accounting, healthcare, science and media markets. The company’s shares are listed on the Toronto stock exchange and the New York stock exchange. Approximately 480,000 financial market professionals working in the equities, fixed income, foreign exchange, money, commodities around the world rely on Thomson Reuter’s products. The company provides content, analytics, trading and messaging capabilities that enable its customers to search, store and integrate relevant information from other sources facilitating how they work. Commonly, the company provides institutions with products that help them in reducing business risks and manage their respective amounts of data. Thomson Reuters provide news to media organizations and...

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