My family told me that I should quit my job and go into the tax preparation business. Well, I got a job in the industry instead. However, after working a full season for another provider, I researched the best tax preparation software to use for a tax preparation service. I found that there was a company out there that provided tax software for individuals with an EFIN to use in their own business.
I had originally thought that only big tax prep companies could afford to develop their own software, but there is a company out there that makes it for private tax prep providers. They even have a package for software and to get your EFIN if you do not already have it. I see clients at my home, and on some occasions even at their homes. I make a good living at this. I used to prepare taxes for nothing for my family. I even did my uncle’s taxes for his plumbing business, and he was lousy at keeping good records. I had to fix up his books and track down receipts just to make him audit proof. He would pay me well for it, especially after he got audited once and went through it just fine.
That experience had him telling everyone about my tax preparation abilities, and I got a lot of work from that after I started my own business. It did not pay much to work for the big tax prep company I worked for. The real money started to come in when I got the best tax preparation software and started my own business. It is funny how our complicated tax code has opened up such a huge opportunity to make money. If our taxes were suddenly made simple, I would be out of a job. However, with bureaucracy being what it is, I know that is not going to happen.