8 Reasons to Start a Tax Practice

8 REASONS TO START
A TAX PRACTICE
Charles Davidson, Accelerated Tax
Systems

This presentation discusses eight reasons you
might consider starting a tax preparation
business.
If you have questions, please contact:
Charles Davidson
Accelerated Tax Systems
davidson@acceleratedtaxsystems.com
www.acceleratedtaxsystems.com
Copyright 2013 Accelerated Tax Systems. All Rights
Reserved.
www.AcceleratedTaxSystems.com

8 Reasons to Start a Tax
Practice
 Low Cost of Entry
 Financial Reward
 Challenging and Satisfying Career
 Job Security
 Flexibility
 Provide a Valuable Service
 Professional Career
 Meet Interesting People
Reserved.

Practice
 Low Cost of Entry
 Variety of business models
 Minimal investment needed to start a tax practice
 Computer and printer
 Professional tax software
 Internet connection
 Perfect for a home office
 Ability to work part-time or full-time
 Easy to grow your business as you add clients
 Hire seasonal help or expand to an office
Reserved.

Practice
 Financial Reward
 Tax business won’t make you rich
 Create a comfortable salary
 Define your own ideas about financial success
 You can set your own hourly rate
 Ability to charge rates equal to other professionals
 Many professionals charge between $150 and $300 /
hr.
 Earn from the effort of others
 With reward comes risk
 Starting a business involves some degree of risk
 Learn about the risks and manage them appropriatelyCopyright 2013 Accelerated Tax Systems. All Rights
Reserved.

Practice
 Challenging and Rewarding Career
 Challenges
 Requires you to be constantly learning about tax law
 New issues and problems every day
 It’s fascinating to understand how the IRS works
 Rewards
 Meeting new and interesting people
 Helping people save money
 I love telling people they have a large refund!
 It’s like Christmas or a birthday
 The down side is having to explain a tax bill
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Practice
 Job Security
 Tax professionals will continue to be in demand
 Tax law is constantly changing
 Taxes are and important government transaction
 Clients want it done correctly and without hassle
 Strategically build your client database
 You must give more than just a tax return
 You must offer a variety of services and products
 You must specialize in one or two key areas
 Tax Controversy and Representation
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Practice
 Job Security
 Tax controversy and representation
 Controversy = An IRS audit or other adversarial
position
 Representation = Acting as an agent for your client
during controversy proceedings
 Why is this an opportunity?
 A great specialty on which to build your client base
 Intersection of demand and supply
 Taxpayers need experts to help interact and solve
problems with the IRS during audits and in tax court
 Tax practice is limited to attorneys, CPAs, and EAs
Reserved.

Practice
 Flexibility
 Seasonal nature of the tax business
 Can be the source of headaches and problems
 View it as an opportunity
 As a business owner you have the ability to:
 Work part-time or full-time
 Work seasonal or year-round
 Structure your business the way you want it to be
 Hire employees to work for you
 Set your own hours
 Take summer off and travel
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Practice
 Provide a Valuable Service
 People need tax preparation and advice
 They must comply with the tax law
 BUT they want peace of mind that it’s done right
 You are a professional trained to offer financial
advice
 Provide a solution to their problem
 Your job is to save the client money
 Get paid as a valuable financial advisor
 Don’t undervalue the service you provide
 Most tax professionals don’t charge enough for their
time, expertise, knowledge, and skills
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Practice
 Professional Career
 Tax professionals provide a financial service
 They are no different from white-collar
professionals:
 Bankers
 Financial advisors
 Insurance agents
 Real estate brokers
 Represent yourself as a professional and earn
respect
 Provide valuable, money-saving advice and earn
trust
Reserved.

Practice
 Meet Interesting People
 Most of the people you will meet have a story
 Learn a lot about of personal information about your
clients
 Clients will tell you stories about their family and loved
ones
 This part of the job can be very enjoyable
 Not everyone is pleasant
 It’s a people business – learn to accept it
 You will have angry, cranky, upset clients
 Most of their frustration is aimed at the IRS
 Stay calm and work to resolve the problem
 Don’t be afraid to fire the clients that cause the most
headache
Reserved.

 Accelerated Tax Systems is a full-service
company that provides the
products, services, and resources that help
you create and grow a successful tax practice.
 Tax Education Training
 Software and Bank Products
 Marketing
 Operations
 Consulting Services
Reserved.

 Accelerated Tax Systems
 We can help you start your tax preparation
business
 Consulting and coaching
 Computer hardware and software
 Bank products
 Training and technical support
 Tax education programs for you and your staff
www.TaxBusinessDirect.com
Reserved.

Contact Us
Charles Davidson
2910 Weald Way No. 514
Sacramento, CA 95833
(916) 717-6454
davidson@acceleratedtaxsystems.com
Reserved.

8 Reasons to Start a Tax Practice

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