Tax preparation is an ideal way to make extra money for ambitious millennials who are looking to join the “sharing economy”. It offers flexibility to work from home and set your own hours, making it a great option for mothers who want to earn money while still prioritizing their most important job. To get started, you can offer discounts to your inner circle and use tax software to keep your clients' information secure. You'll also need to get a tax preparer bond to guarantee that you will prepare returns correctly.
If you find tax codes interesting and have a knack for numbers, you may want to consider becoming an income tax preparer. It's a great option if you don't have a lot of money or education, and it can even be a “stepping stone” to higher-paying opportunities. You can learn the skills on the job or by completing a training program such as the 12-week online course offered by H&R Block. Knowing the tax laws will help you make better business decisions and save you some money when it's time to pay taxes.
Starting a tax preparation business suggests that income tax preparers can earn a six-figure income working for themselves. However, it's important to note that this type of work can be physically demanding, with health problems related to weight gain, lack of sleep and poor diets being common. You may also need to take time off to obtain a degree or continuing education requirements if your state requires you to obtain and renew a tax preparation license. Overall, tax preparation is an excellent way to make extra money on the side. It's perfect for those who are already in the financial industry and can be used as a stepping stone for those who want to move up in their career.
With the right training and dedication, you can even make it into a full-time job.