Any have info on starting a TAX SERVICE?

[DESHAUN MICHAELS]

Anyone have info on starting a TAX SERVICE?

Anyone have info on starting a TAX SERVICE?

I have a lady friend that is starting a tax service.I told her I would help her out.Does anyone have info or experience in this industry as far as what to look out for,requirements, marketing tips, etc? ALSO:is it cool to do just personal taxes or would it be better to provide business taxes as well.

Her idea is that a tax service is garaunteed to make money because everyone has to get taxes done.I think taht industry is already over saturated.

let me know.

thanks

 

[DuhDuhMan]

This was discussed briefly in a previous thread:
http://www.bgol.us/board/showthread.php?t=224500&highlight=tax+service

But to quickly recap and add a few tidbits:

Decide on how deep into the tax game you want to get and set your shop up accordingly.

Some questions to ax (ask) yourself:

What types of returns do I want to do (individual, sole props, corporations, internationals,etc.)?

What type of filing service to I want to provide (snail mail, use a 3rd party originator, be an actual originator, etc.)

What types of services do I want to provide (prep, prep & planning, prep, planning & products, etc.)

How much tax education do I have or am I willing to get (basic, CPA, LLM Tax, EA)?

What's my commitment to staying abreast of the latest tax/financial developments and legislation?

What's my commitment to ongoing professional practice development and education?

As for the market being oversaturated, I would have to disagree, there are so many mediocore tax shops out there, a good tax professional will stay busy all year long.

 

[DESHAUN MICHAELS]

This was discussed briefly in a previous thread:
http://www.bgol.us/board/showthread.php?t=224500&highlight=tax+service

But to quickly recap and add a few tidbits:
QUOTE]

HEY,DUHDUH

THANKS FOR THE INFO IT WILL BE VERY HELPFUL.I AM SCHEDULED TO MEET WITH HER TOMORROW TO DISCUSS HER VENTURE AND SEE WHERE SHE WANTS TO TAKE IT.

I WAS ACTUALLY LOOKING FOR THE POST THAT YOU HAD IN YOU REPLY BUT COULD NOT FIND IT.

THANKS AGAIN