Being a tax preparer offers many great benefits, especially when you are an independent tax professional and own your own business. Did you know that you don’t need to be a CPA or have a degree in order to provide tax services for clients? You can actually become licensed in a very short time and begin operating your own tax business. Below are three reasons to consider this career path.
1. Tax prep services will always be in demand
There aren’t many jobs out there that are immune to the ups and downs of the economy, and this is especially true for small startups. If job security is a major concern for you and your family, then tax preparation might be just what you’re looking for. As long as there are taxes and government, there will always be a demand for professional tax preparers.
2. Tax prep allows for great flexibility
One of the best reasons to start a tax preparation business is the flexibility you’ll have in operating your business. Most of your business will occur during tax season, from January to April, which will leave you with more free time during the rest of the year. You’ll still have the opportunity to earn money year-round if you want, but the offseason will allow greater flexibility in your work schedule.
Working as an independent tax preparer will give you greater flexibility in your day-to-day operations, too. As your own boss, you’ll be able to choose your own hours and schedule client appointments at your convenience. Spend your evenings and weekends with family or doing the things you love instead of logging long hours at the office.
3. There is a high potential for income and growth
In the early days of your tax services business, your primary goal will be to find new clients, and you might start out offering lower rates to get some experience and some positive reviews. Soon, however, your reputation will grow along with your skills and knowledge. This will allow you to seek out more clients and, more importantly, higher-paying clients. It’s not uncommon for independent tax preparers to earn more than $50k in a single tax season. Extend your services to earn year-round revenue, and the earning potential becomes even greater.
If you’re considering starting your own tax business or you have any questions about the process and legal requirements, contact Umbrella Financial Services Tax Solutions Group. We’ll be happy to help you decide if tax preparation is the right business for you.