What is the Right Time to Start a Tax Business?
Do you want to start working as a tax preparer but can’t find the right time? If you think that the idea of starting your very own tax business sounds appealing and profitable to you, don’t delay – take the plunge right now!
The most common mistakes that most people make when they decide a career as a tax preparer is that they start in fall and think that everything will be set up and ready by January. However, the thing is if you start early you will have a better chance of getting more customers and earning more profits down the road.
Most tax preparers fall into the trap of timing and wait till autumn to set their tax business. While you may think that July is way too early to start thinking about your tax business, the truth is, if you want to make your tax business lucrative and successful from day one, starting out early in summer is your best bet.
For starters, registering for your PTIN and EFIN and getting hold of propertax software may take longer than you realizeand if you put off these necessary preparations till say September, you can lose out ona lot of customers because of your lack of planning. Taking these steps now and getting armed with all the information you need will put you months ahead of your competition and also give you a chance to promote and advertise your services and build a positive footing in the market. Focusing on the important tasks and preliminary steps now will also give you more time to take care of your customer needs tomorrow and increase your chances of getting repeat clients and positive referrals.
Do you plan on starting your tax business or have already made the plunge? What steps did you take before starting up? Share your experience with us.