Demand for tax preparers
If you’ve ever thought about getting into the tax business, now is the time! The demand for tax preparers is real and it’s growing! With baby boomers reaching retirement age, many preparers are selling their businesses and/or relinquishing client relationships to other, younger tax preparers. With such a large population of baby boomers, there is a big gap between supply and demand right now…leaving a lot of low hanging fruit available!
Low barriers to entry
Several myths tend to surface when people think about becoming a tax preparer and starting a tax business. The truth is, you don’t need a college degree, you don’t need to be a CPA, and you don’t need to know high level math. The steps to become a tax preparer are quite simple!
- Take a top-quality beginner tax preparation course
- Obtain a Preparer Tax Identification Number (PTIN) from the IRS – every preparer needs one!
- Check your state for tax preparer requirements (many have none)
- Continue your tax education each year
And here’s a small checklist to help you start your home-based tax business…
- Complete the IRS Voluntary Annual Filing Season Program (AFSP)
- Select tax preparer software
- Purchase Surgent Income Tax School’s Guide to Start & Grow Your Successful Tax Business
- Purchase Surgent Income Tax School’s Tax Practice Management Manuals
- Subscribe to Surgent Income Tax School’s blog: Tax Industry Talk
- Subscribe to The Income Tax School’s biweekly e-newsletter and emails to stay current and also receive our special offers
- Join the LinkedIn group: Tax Business Owners of America (TBOA)
- Apply for your IRS Electronic Filing Identification Number (EFIN) so you can e-file tax returns
Minimal startup costs
The costs to start a tax business are nominal. Most people already have a computer, printer, and scanner. If that’s true for you, then the main costs you will have to get started with a home-based tax business are listed below:
- Comprehensive Tax Course, $497, add hard-copy book for additional fee – Updated for 2021
- Guide to Start & Grow Your Successful Tax Business, $99-$149
- IRS PTIN registration, $35.95 fee per PTIN application/renewal
- Voluntary IRS Annual Filing Season Program, $59-$119
- Professional tax preparation software – (lower cost options available), $500
- Tax preparation Marketing and Tax Office Supplies, $500
Start now and be ready for tax season
Our Comprehensive Tax Course can be completed in just 10 weeks or less, but we give you six months to complete it. Starting now gives you plenty of time to finish your course and plan for your first tax season. Plus, you can apply for your PTIN and EFIN right away to get the ball rolling!