HOW TO START A TAX PREPERATION BUSINESS FROM HOME

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Comments (25)

chuckmccabe in Richmond, Virginia

79 months ago

As Chris suggested, you should seek advice from experienced tax business owners. I alos recommend joining a professional association such as NSA and/or NATP. You can also get general small business start up advice and information from your local Small Business Development Center (SBDC) and the SBA, as well as the economic development office of your local city or county. If possible, consider attending one of the IRS Nationwide Tax Forums next summer to learn about the many resources available to operate more efficiently and grow your tax business. Also consider joining additional social network groups for tax business owners, and do Google searches for resources to start your own tax business. You should also continue your tax professional education to increase your tax knowledge and work toward attaining professional credentials to instill confidence in your clients.

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EZTax in Mobile, Alabama

71 months ago

RYANTWIN in Barstow, Texas said: I HAVE BEEN WORKING AS A TAX PREPARER FOR 5 YEARS. I WORK FOR A COMPANY WHO WILL BE CLOSING THE DOORS AFTER THIS YEAR. I HAVE DECIDED TO WORK FROM HOME PREPARING TAXES FOR NEXT SEASON. MY QUESTION IS WHAT DO I DO TO OPEN MY OWN BUSINESS? ARE THERE FORMS TO FILL OUT AND WHERE WOULD I GET THEM, DO I NEED A CPA DEGREE. I HAVE NO IDEA HOW TO OPEN UP THIS BUSINESS. DO I NEED TO FILL OUT ANY FORMS WITH THE IRS? HELP WHERE DO I START?

I am in the process of doing this too and could help you. I am about to buy Petz/Crosslink's MSO. It is $2500 for 10 offices. I only have one office though. I'm trying to sub the other offices out so if you want to save some money on software, let me know. myeztaxrefunds@gmail.com
They use Republic Bank and SBB&T. I can do all the setup and even get your EFIN for you if you want. Perfect for people just starting out. Training sessions start in October. Support offered throughout tax season.

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rosie in Brea, California

54 months ago

Im in the prosses of starding new business. I need help! to find a good software to preparer tax.

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Chiflada969 in Houston, Texas

51 months ago

rosie in Brea, California said: Im in the prosses of starding new business. I need help! to find a good software to preparer tax.

Have you considered being a sub contractor for a tax company? I started my tax buisness with ComproTax five years ago. They will help you set up your tax office and our training is the best. We do more then just taxes. Look us up.

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natoshavines451 in Raeford, North Carolina

48 months ago

I am need trying to start a tax prepare business but do know what I need to to get started. Do I need to be certified in order to do taxes? Can some give me some insight?

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lorettamilton in All

45 months ago

Have you receive the information you need to start your Tax business.

Let me know I will help you

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taxman

45 months ago

Hi Brandi,
Has any contacted you about getting your business started?

Brandi in Macon, Georgia said: I'm wanting to start a tax business ...would be willing to franchise out open an office in my area for someone....just getting started but am searching for courses...any help appreciated

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Simone in Conyers, Georgia

45 months ago

I'm starting a tax prep business as well Brandi! I am currently studying for the RTRP exam and getting overwhelmed. I purchased the Fast Forward Academy book and its supposed to give you a 90% pass rate.... maybe i should explain some things:
1. You must register for a pin with the irs
2. You must pass an exam about tax law (RTRP exam $116 and pin is $64)
3. Buy software
4. Advertise like mad!

I don't know if i've missed any steps, but this is how i'm doing things! BTW, if anyone wants to study for the test PLEASE email me: xchocolatebombshellx@gmail.com (not putting my professional email on the board until i'm sure you're not a spammer!)

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Simone in Conyers, Georgia

45 months ago

Chris Tax in Los Angeles, California said: The RTRP test is not that easy. I passed it after studying for 2 months. You do need to buy a study guide.

Chris
Owner Cel Financial Services
www.taxprepfillmore.com/

Any tips? I have the fast forward academy book but i feel like i'm reading french! I'm considering waiting until after 2013's tax season so that I can afford to either go to a class or order a professional tutor. Does anyone think that's a good idea or a bad idea? I need some input! And before I get attacked know this:
My business ONLY does simple returns (1040 EZ and 1040 A's). It's specifically catered to young people and persons with no need for itemization. I do have liability insurance.

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Joe Rogers in Indianapolis, Indiana

45 months ago

Simone in Conyers, Georgia said: Any tips? I have the fast forward academy book but i feel like i'm reading french ! I'm considering waiting until after 2013's tax season so that I can afford to either go to a class or order a professional tutor. Does anyone think that's a good idea or a bad idea? I need some input! And before I get attacked know this:
My business ONLY does simple returns (1040 EZ and 1040 A's). It's specifically catered to young people and persons with no need for itemization. I do have liability insurance .

I would suggest familiarizing yourself with the 1040 Instruction booklet and also Pub 17. These are the resource materials that the Prometric proctor will provide you when you sit down to take the test. We have found that if you are familiar with these documents, and the navigation of them, it will help you out significantly. Most importantly learn how to quickly navigate from the index to find the answers to the questions. The test is open book... but it is still timed, so you have to know where look and look quickly! Hope that helps, we have alot of users using the FastForward Academy RTRP training tools, and I think the best tool is the test bank where you can simply run through thousands of potential questions. GOOD LUCK!!

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Joe Rogers in Indianapolis, Indiana

45 months ago

tfrench810 in Treynor, Iowa said: HOW....WHERE DO I GO TO REFRESH EVERY YEAR ON THE NEW TAX LAWS? SEMINARS? IRS? WHERE DO I GO TO KEEP UPDATED?!? THANKS FOR THE HELP!!

The IRS hosts several "forums" at different locations across the country every year. These are held during the summer, while things are a little slower in the tax prep world. These are typically very informative and I would suggest attending, but they can be cost prohibitive if there is not a forum close to your home town. If that is the case I would suggest seeking online Continuing Education. There is large number of providers out there, and with the PTIN list being available to all I am sure you have gotten plenty of advertisement emails promoting different resources. I would suggest preparertraining.com, it is affordable and the content is directed toward individual tax prep, not corporate. You can also go to the IRS website and search for CE providers, and they will give you a huge list that you can choose from.

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Pedro Reynoso in Buena Park, California

42 months ago

Chris Tax in Los Angeles, California said: Hi:

Contact someone in your state govt if u have to be register to do taxes. Get a Pin and EIN number from IRS. Then buy software. You need to get a business license and a dba. you also need to have a marketing plan. Also, contact your former owner for advice

Hope these general ideas are helpful.

Chris

Hi Chris

I am taking the RP exam, so i dont have to hire anyone.

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larrymccloud in Sierra Vista, Arizona

41 months ago

I'm seeking any advise on this as well. I have already passed RTRP with IRS, current PTIN holder for 2 years, trained & experienced with clients wanting only me from previous work with Jackson Hewitt. I have had many of them ask me if I would start my own business. I am very serious and interested in doing so, but I need to know where to start. What do I need, and so forth. Any advise would be great please! lb_mccloud@hotmail.com

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1040ABB in Hammond, Louisiana

41 months ago

Being that this is my frist year as a tax preparer how many returns should I expect to prepare. And is there anyone out there willing to take me under their wings teaching me everything that I need to know ..even to talk to from time to time if so contact me at pwilliamstaxservice@yahoo.com

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Amy in Irvine, California

37 months ago

Proseries basic/professional is a very good tax software to start with. I have 5 years experience as tax preparer doing self business. Let me know if you'd like to share the cost of the software, and/or having a good partner for your business :)

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lorettamilton in All

37 months ago

Amy in Irvine, California said: Proseries basic/professional is a very good tax software to start with. I have 5 years experience as tax preparer doing self business. Let me know if you'd like to share the cost of the software, and/or having a good partner for your business :)

We are selling the #1 taxsoftware ----Taxwise Online. If you know anything about being in the cloud then you know this software is what you want and need

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Ruta in San Diego, CA in San Diego, California

36 months ago

Amy in Irvine, California said: Proseries basic/professional is a very good tax software to start with. I have 5 years experience as tax preparer doing self business . Let me know if you'd like to share the cost of the software, and/or having a good partner for your business :)

Amy,
I am interested in starting my own business/looking for the partner/ and would like to know what software you are using. Please email me at rstecher71@gmail.com

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Greg in Wadsworth, Ohio

36 months ago

I am currently studying for the EA exam. I plan to have the tests completed by the end of Aug, and have my enrollment card by Jan 1. I would be interested in finding a partner to go into business with in Northeast Ohio. Any advice would also be appreciated. Please email me gwtomasek@gmail.com

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thefinancewriter in Georgetown, Texas

33 months ago

I joined on online community for obtaining ideas and information from experienced Enrolled Agent tax experts at fastforwardacademy.com/index-page-community-subpage-roles-action-benefits.htm. This is an excellent resource for details about continuing education, tax software, and best practices for operating a tax business.

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Bella in Summerville, South Carolina

32 months ago

I would first start a blog informing people of tax and benefits and valuable thing they should do, then send them to your site. Get people to know like and trust you first - then you have a customer :-)

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LBC TAXSERVICES in Long Beach, California

31 months ago

rosie in Brea, California said: Im in the prosses of starding new business . I need help! to find a good software to preparer tax.

www.indeed.com/job/tax-preparer-6208a375231fdc17

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ZipRefund in Carlsbad, California

20 months ago

If you are looking to get out of the hourly tax job, then check us out. We provide you everything you need including marketing material. Will set you up with an Efin to use, the software,bank products your won website, and so much more. No up front fees. We promise. Here is some more info. ziprefund.com/free_tax_business.shtml

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Siobhan in Madera, California

17 months ago

I have been researching for several months now but still feel that I am not getting the information I need. I have been going back and forth with the tax courses. Is it best to take the minimum 60CE hour tax prep courses (what is offered by HRBlock etc) or is it more beneficial to use the 180CE hour Chartered tax Professional courses?

Also, I have read conflicting information...
Can I start my own tax business once I have completed the Chartered Tax Professional Course or must I work/partner with an enrolled agent?

Keeping in mind I am not looking for a minimum wage jog or looking to work with HRB, JH or Liberty.
Thank you for your input

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tax professional in charlotte, North Carolina

5 months ago

I have an EFIN, software and bank product. If you were unable to set up your own tax business in time, let me help you out. As long as you have a PTIN, you can work as an independent contractor and file your customers' return with me.

Give me your contact information if you're interested.

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msmuff23 in Desoto, Texas

4 months ago

tax professional in charlotte, North Carolina said: I have an EFIN, software and bank product. If you were unable to set up your own tax business in time, let me help you out. As long as you have a PTIN, you can work as an independent contractor and file your customers' return with me.

Give me your contact information if you're interested.

I would like to know what are the first steps to take after receiving your efin number

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