The Income Tax School.

Tax Preparation: a Career Opportunity for Hispanics

The demand for professional income tax preparers has increased dramatically due to tax reform, technology and demographic changes and created new opportunities in the tax preparation industry. Nearly 60% of all taxpayers have their returns prepared by tax professionals. Hispanics are the fastest growing segment of U.S. taxpayers, constituting more than one out of eight people living in the United States. Many bilingual Hispanics are learning to meet this rapidly growing need in the Latino community and earning up to $100 per hour as home-based tax professionals.

Hispanics who have recently immigrated to the United States are often not aware that they may be required to file tax returns or must obtain an "Individual Taxpayer Identification Number," or ITIN. Tax preparers who help Hispanics to obtain their ITINs often prepare the tax returns for the entire family, earning up to $500 or more per household.

“You don’t have to be an accountant to be a tax professional,” said Chuck McCabe, CEO of Peoples Income Tax. “Being good with figures is a requisite, but high-level knowledge of math and finance is not necessary. The most important attribute of a tax preparer is people skills and a genuine interest in helping people,” he noted. Bilingual Hispanics are ideal candidates because they understand the culture and are trusted by other members of the Latino community. Your relationship with your tax preparer is more intimate than that of your barber or hair dresser. Tax preparers are privy to their clients’ entire financial and personal situations and their clients trust them to make a daunting task an easy, and often even an enjoyable experience!

Being a tax preparer requires in-depth knowledge of federal and state laws. Having done your own taxes and perhaps those of friends and relatives is a good start, but it does not qualify you as a tax preparer. Preparing tax returns for the general public involves dealing with many different tax situations, often unique and complex. Equally important is the ability to conduct a thorough, efficient and courteous client interview. And most important is genuine concern for the best interests of your clients, and a desire to help others in your community.

The Income Tax School offers online courses available anywhere-anytime-24/7 with instructor support provided by veteran tax professionals who have extensive hands-on experience. This school provides the critical education and knowledge in tax preparation to enable graduates to become competent and successful. The 60-hour 20 lesson Comprehensive Income Tax Course provides the knowledge needed to prepare individual tax returns for the general taxpaying public. The course and the student texts are available in Spanish.

The comprehensive course begins with elementary topics such as who must file, which form to use and when and how to file. The Course then progresses to basic but often misunderstood subjects like filing status, exemptions and dependents, taxable and nontaxable income, and standard and itemized deductions. The course then examines deductions, adjustments to income, earned income and other tax credits, and more complex aspects of taxation. Qualified graduates are ready for careers as tax professionals.

Tax preparation may be an ideal second career for many Hispanics, especially homemakers with small children and early retirees, or in combination with other employment, such as real estate or financial services. Leaning tax laws also helps you save on your own taxes and tax preparation fees.