Trying to build my tax practice up in Charlotte so I can do it full time

[Ethnic Vagina Finder]

It's always been my side hustle, but as i've risen through the ranks at my job, i've been stuck in employee mode.

This pandemic made me realize I was a slave. I've worked the whole time, with little opportunity for time off. I run my own location but don't have any real power in terms of day to day as i'm at the mercy of whatever corporate wants. Under a constant microscope.


I still have about 50 - 60 clients from when I was living in New Jersey with the goal of adding 100 - 150 this coming tax season. By 2022, I want to hit 300 which will allow me to leave and do it full time


Any NC breh's know what people normally pay to do their taxes?


I don't want to over charge, but I don't want to undercharge either. based on my market research it's anywhere from $100 - $150 for a basic return. But some people pay over $400. It's easy to finesse the uneducated, but I don't want to do that.

 

[se1f_made]

I’m interested in learning about tax prep pricing and customer acquisition methods as well. Any entrepreneurs flown this plane before?

 

[Ethnic Vagina Finder]

I’m interested in learning about tax prep pricing and customer acquisition methods as well. Any entrepreneurs flown this plane before?

You have 3 types of people

1. The people that do their own by going to turbo tax or other online self service tax portals. They typically want to pay little to no money. Some have learned that you can get them done for free.

2. The people that go to the name brand providers like H&R Block or Liberty Tax. They will pay in the range of $100 - $200 for a simple 1040. You can get those clients, but you're price point has to match what they're already paying.

3. The people that don't know shyt about taxes. The people who typically service them run game. They will put in fake numbers to boost their refund and get referrals. They do that so they can charge more. They typically wait to see how much the person is getting before they disclose fees. They usually pay $400 - $500 dollars.


At the end of the day, you want to present yourself as someone who is knowledgeable and professional. People want to get paid in a timely manner as well.

 

[Pressure]

People either do around 150 or 450 from my experience and discussions. Obviously that may change depending on major life events. .

 

[Ethnic Vagina Finder]

People either do around 150 or 450 from my experience and discussions. Obviously that may change depending on major life events. .

I'm a do $169.99 + tax


If they want to pay me via their tax return It will an additional $60.00.

Schedule A will start at $75 extra and up based on complexity.


I probably won't try to snag business tax returns unless they fall in my lap.



Oh. And hood boogers that didnt work and want me to make up shyt......$600.00.

 

[Tombstone]

I'm a do $169.99 + tax


If they want to pay me via their tax return It will an additional $60.00.

Schedule A will start at $75 extra and up based on complexity.


I probably won't try to snag business tax returns unless they fall in my lap.



Oh. And hood boogers that didnt work and want me to make up shyt......$600.00.

I'm studying for my EA right now and in the middle of getting the rest of the docs I need (PTIN, ETIN). No experience in taxes or anything work in the website/seo field.

How you recommend getting into the game and building your client base? I know I'll probably have to do some cheap pay tax preparation for a bit during tax season, then get into a CPA firm or accounting firm for business taxes and the more complicated tax game. How much experience would you recommend before venturing on your own?

I'm getting to the real estate and wanna concentrate in real estate taxes, might just get my signing agent license to network to build clientele especially since I'll be dealin with folk who just bought houses and real estate agents.

 

[Ethnic Vagina Finder]

I'm studying for my EA right now and in the middle of getting the rest of the docs I need (PTIN, ETIN). No experience in taxes or anything work in the website/seo field.

How you recommend getting into the game and building your client base? I know I'll probably have to do some cheap pay tax preparation for a bit during tax season, then get into a CPA firm or accounting firm for business taxes and the more complicated tax game. How much experience would you recommend before venturing on your own?

I'm getting to the real estate and wanna concentrate in real estate taxes, might just get my signing agent license to network to build clientele especially since I'll be dealin with folk who just bought houses and real estate agents.

Start by getting an idea of what to charge in your market. Don't sell yourself cheap. Ask family and friends how much they pay. Do a google search. Call local tax offices and find out how much they charge.

If you get your EA designation before tax season, you can definitely charge a premium. Most people don't know what EA's are. They think they're CPA's. And you can charge what CPA's charge too

My first clients where coworkers. It grew from referrals. And even when I moved, they still fukked with me.

With my situation, I work a full time gig, so I can approach it two ways.

1. Get clients with simple returns, that I can churn out faster. Those type of returns don't take long to do, but you can't really charge that much so you would have to do a lot of them to see some real bread.

2. You can go after the big fish with complex returns, but you have to actually find a plug that will refer those type of clients, and you will have to really market yourself.




I'm going for easy returns, that i can bang out in 10 to15 minutes. My rates are going to start at $179.99 and up.

You will need a PTIN, and more importantly an EFIN. Then you will decided what software to use. That's will be the next important decision to make. There are different types out there. I use Drake Software. Once you decide what you're going to use, you will need to make sure you get comfortable using that software. It's not like going to turbotax.com or other do it yourself sites.

Lastly, you want to apply for a banking product if...

You plan on giving clients the option of having your fee deducted from their return.

There's other little details that you want to follow up on as well, but the key thing is being comfortable enough to answer basic questions. Most of the time you will also have to research questions as well.

 

[Cynic]

You have 3 types of people

1. The people that do their own by going to turbo tax or other online self service tax portals. They typically want to pay little to no money. Some have learned that you can get them done for free.

2. The people that go to the name brand providers like H&R Block or Liberty Tax. They will pay in the range of $100 - $200 for a simple 1040. You can get those clients, but you're price point has to match what they're already paying.

3. The people that don't know shyt about taxes. The people who typically service them run game. They will put in fake numbers to boost their refund and get referrals. They do that so they can charge more. They typically wait to see how much the person is getting before they disclose fees. They usually pay $400 - $500 dollars.


At the end of the day, you want to present yourself as someone who is knowledgeable and professional. People want to get paid in a timely manner as well.

Why not B2B ?