- 5 Ways Tax Preparers Can Earn Beyond Tax Season
5 Ways Tax Preparers Can Earn Beyond Tax Season
Becoming a tax professional can be a lucrative career, so if you’re starting to explore this path, you may be wondering what exactly tax preparers do. They’re mostly known for filing returns for individuals during tax season, so you may want to know what else keeps them busy for the rest of the year. The great news is that tax preparers can make a lot of money year-round, depending on what they like to do and where their specialties lie. Most tax preparers perform work outside of tax season, while others diversify their income by providing additional services. Here are the many ways tax preparers earn money throughout the whole year:
1. Payroll Management
If you work with small businesses, you’re aware of their various financial needs, such as managing their payroll. Many business owners outsource their payroll management since they are far too focused on building their business, which means they’re more than likely to require payroll help. By adding this to your roster of services, you’ll have no problem making money beyond tax season.
2. Taxes for Businesses
One of the easiest ways to earn year-round as a tax preparer is to provide tax preparation services to small businesses, which need services throughout the year. The clients you assist during tax season probably have their own small businesses, so be sure to let them know of your new services to reinforce your relationship and open a new avenue of income.
3. Client Representation at the IRS
Taxes can be tricky, which is why many individuals hire a tax preparer to do it for them. Unfortunately, for some taxpayers, the stress of tax season doesn’t end when they file their tax returns. When the IRS finds errors in their returns or spots willful misstatements, they’ll reach out, complicating matters further. Once this happens, the taxpayer will need representation before the IRS, which you can fulfill. However, to represent clients before the IRS, you must be a certified public accountant (CPA), an enrolled agent (EA), or an attorney. Being an EA is the most logical step for tax professionals since it doesn’t require you to take more college credits, and the required training is relevant to tax preparation.
4. Bookkeeping Services
Small businesses are always in need of a bookkeeper, presenting you with a host of money-making opportunities. You don’t need an accounting degree to be a competent bookkeeper, either, as bookkeeping is different enough from accounting and has an easier learning curve. You can also take courses in bookkeeping for small businesses, equipping you with the knowledge and skills you need to offer top-notch services to your clients.
5. Tax Service Bureau
Becoming a tax service bureau beyond tax season allows you to help other tax professionals look for the best professional tax software they can use for their practice. For instance, our tax software comes in various packages catering to tax professionals of all types, like those who have obtained their EFIN and those who haven’t. It comes with many features, such as a document manager, electronic or remote signatures, a customizable mobile app, and more.
Even though many people believe that tax preparers are active only during tax season, the reality is that they can be just as busy throughout other months of the year if they choose to be. By offering these services, you’ll become a better tax preparer, widen your client base, and increase your earning potential. Keystone Tax Solutions offers professional tax software
specially designed for tax preparers. Our affordable tax software is designed to grow your business through money-saving benefits like easy-to-use software, unlimited federal returns, unlimited state returns, and more. Get a free demo today!