Startup Costs: $50,000 - $100,000
Home Based: Can be operated from home.
Part Time: Can be operated part-time.
Franchises Available? Yes
Online Operation? No
An accounting background is preferred; however, there are training and certification courses available that will enable you to start your own income tax preparation service as a qualified professional. As in any business, the more you know and the better your skills are, the more you will potentially earn. Though tax preparation is a seasonal service, additional income can also be gained by providing business clients with year-round bookkeeping services. Once established, word-of-mouth advertising and repeat business will support the service. However, to initially secure clients for the business, consider offering a two-for-one special for your first year of operation, prepare one tax return for the regular fee, while a spouse or partner receives the service for free.