How to Start a Tax Preparation Service

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Start a tax preparation service by getting an education in accounting, setting up a home office, advertising via fliers and word-of-mouth, and printing business cards. Work from home until the tax preparation business takes off with advice from a certified public accountant and personal financial planner in this free video on tax preparation.

Part of the Video Series: Tax Law, Real Estate & Credit Tips
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Video Transcript

Hi I'm Miranda Chook, a CPA. Adding a tax preparation service to an already existing business that may be providing accounting services is a good idea or maybe you're employed and want to make some extra money during tax season. For purposes of this segment, we'll assume that you have the accounting background or some other training and certification. Now remember that if you do make some money from this, you may need to report your self employment income on your tax returns. The easiest way to start is just to work out of your home. Get your computer setup and your printer setup. And you can meet clients at the coffee shop or meet them at their home or business and it actually may be easier in terms of picking up their tax documents. There are some no to very low cost ways of advertising your business as well. Word of mouth, talk to your colleagues, your friends, family, people at church. You can pass out fliers, posting on craigslist is relatively inexpensive as well. And there are some places where you can print free business cards and then just hand those out. Now if you decide actually to branch out and perhaps rent some space to provide your tax preparation services of course you'll have additional expenses there but you'll also need to check with your city's chamber of commerce because you may need to actually apply for a business license in order to do this.

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