Most of us do not look forward to filing our income taxes every year, but others see it as a part- or full-time income opportunity. If you know income tax filing procedures or are skilled in accounting and good with figures, this may be a good business for you. Of course, most of your business will be from January to April 15, every year, but many professional tax preparers work for their clients year-round: they file any necessary extensions, help clients keep their records in order, and provide other services that make it easier to file each year's taxes.
If this business venture interests you, talk to professional tax preparers, study tax preparation manuals, and survey if there is a need for a preparer in your community.
Start-Up Costs and Financing Sources
$6,000 to $8,000.
Personal savings, lines of credit from your bank, loans from family or friends.
Pricing Guidelines
Check with other preparers to see what the going rate per form is. Begin with basic charges for the simplest forms, and then figure a fee for preparing each schedule and additional form. Your fees should be based on the number of forms that the IRS requires to be filed, not based on your client's refund |
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