Tax Preparation Proves to be a Stop Gap for Unemployed Workers

By Chuck | July 16, 2020

The current pandemic has caused an economic crisis many of us didn’t see coming. Due to decline in sales from forced closures or reduced business occupancy, thousands of employees have become either under employed or unemployed and some businesses have had no choice but to close.  As many companies struggle to stay afloat, hiring freezes have been implemented leaving people with very few alternatives.  If this has happened to you, you are not alone.

So what can you do to make ends meet in the interim? 

Income tax preparation can be a short-term safety net for many people who have lost their jobs. For years, there has been a shortage of qualified seasonal tax preparers due to past low unemployment rates and high turnover of seasonal employees. This year, demand for tax preparers will grow due to tax law changes, and the IRS projects an increase of 1.4 million tax returns.

Tax preparation provides workers with attractive options that you can’t find everywhere else.  Things that make this industry so appealing are:

  • increased income and tax knowledge
  • a flexible schedule
  • a new professional and marketable skill
  • a reduction in your own tax bill

Plus, you don’t need to have prior tax, accounting or financial education or experience…just good people skills, general education and the aptitude to learn and interpret the tax laws.  You will learn what is needed to get started in one 60-hour tax class with skilled instructors. The course can be completed in just weeks and you can be ready to start preparing tax returns this tax season. 

Once you have completed the tax course, you have the option of becoming self-employed or you can work for a company that handles tax preparation such as a CPA firm or a local or national tax business.

Becoming a tax professional can be very lucrative. The average charge for a tax return is $150 – $200, with some a bit lower and the more complicated returns costing much more. Even if you’re just starting out on your own and prepare only 50-75 fairly simple returns in your first year, that could generate anywhere from $7500-$15,000 in just 3 months time! With the average monthly household income around $3,750, you could earn that easily in your first year as a tax professional!

What’s even more exciting is that as your business grows through new clients and referrals, your future earnings potential is much greater! Plus, you can still enjoy your summers and holidays because most of your business in generated during the concentrated filing season from mid-January through mid-April! Or you could provide complimentary services to your tax clients and generate income year-round!

How do you get started?

With The Income Tax School’s convenient online courses, you can now learn tax preparation anywhere, including your home, anytime-24/7!

Our beginner courses assume no prior tax knowledge and are written by tax professionals who work in the industry everyday preparing taxes for the general public. Our tax courses include many “real world” examples that greatly enhance your learning and give you a better understanding.

After just one course, you should have enough knowledge and understanding to begin preparing tax returns and generating income. But you shouldn’t stop there! The Income Tax School offers a Chartered Tax Professional (CTP®) program that takes you through many advanced courses and will help you prepare for the highest professional designation in our industry, the Enrolled Agent (EA) status. The more knowledgeable you become, the more in demand you will be!

Why not get started now so you can start enjoying your potential earnings?

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