Every year when it’s tax season, people always come to me and ask me to do their taxes for them. I did it once for a friend because he was paying me, and after that, everyone just kept coming to me. This gave me an idea that would give me a nice source of income. I searched in a search engine with the phrase “what do i need to start a tax business”, because I wanted to create my own and make a profit from it. Rather than being just a friend of a friend, I would become my own businessman who could help people and make a pretty penny doing it.
In order to do taxes on a professional level, I needed the right software to help me speed up the filing process, and give me information about what can be utilized on taxes to make sure that people filing would get the best refund or owe the least amount of money. Some people like to just add anything to the taxes that they file and get as much money as they can through dishonesty, but this can come back to haunt them in the future, as the IRS will look into their taxes. When the IRS finds something that doesn’t look right, they will place an audit, which could lead to a hefty fine or jail time in the worst circumstances.
I purchased a tax software package specifically used by businesses and waited until tax season began to start helping my clients. Some people were ready to start having their taxes done in January, which was good because I could get them out of the way. There are always people who like to wait until the last minute to do their taxes. I know because I used to be one of them. These people will come in a couple of days before the taxes are due or even on the same day. I try to direct most of these people into filing an extension and just paying what they think they will owe.