Any Tax Preparers here - evaluating 2nd career idea (Long!)

[Zukini]

I'm evaluating the idea of becoming a tax preparer (non-accountant) for the next year's season with the goal of eventually building a small side income by preparing individual tax returns as an independent tax preparer. With a baby on the way, a new city with no friends/relatives yet, and DH's career really ramping up, it seems I will be based at home for the foreseeable future. I'd like to do something using my number crunching skills (I'm an engineer) and process improvement/organizing tendencies that allows me to interact with folks.

So one of the ideas I'm vetting is to do tax prep. I'm looking at courses offered this fall by some of the major tax prep companies, which are often followed by an entry-level job offer with them. I was thinking to maybe work with them for the first season to get a solid grasp of the actual product and their workflows and business setup. Then the following year I would try to branch out on my own (incorporating of course, getting liability insurance, etc). It seems pretty low overhead and with the internet/technology I can try to build a network wide and near of clients.

So my questions are: Is anyone doing this? Has anyone done this? Did you train / get started via a different route? Do you enjoy it? Why / why not? Thanks so much!!

ps. I also looked at the idea of getting a Real Estate license (DH suggested it) but to use it traditionally - buying/selling homes - requires a level of ongoing commitment to the individual client till the transaction is done that would be hard to maintain with an infant, traveling spouse and no back-up. Our own realtors that we are working with seem to be on-call 24-7 (and we love their level of service!) but that is not doable for me. The attention span needed to prepare a single return seems more conducive to family life as I can set expectations up front and schedule my tasks in chunks that allow me to actually accomplish something, get paid and move on to the next client's work in my next chunk of time. Any other suggestions on a venture that would offer this type of independence with low-mid start-up costs / training are also welcome! Thanks

[AngB]

My dad actually was an accountant for a state agency and also did taxes on the side. He is now retired from accounting but does taxes full-time during tax season and part time the rest of the year.

My dad started with hr block and worked his way up to a higher tax preparer position with them and then left to a private company. He is an enrolled agent now and works crazy amounts of hours almost 7 days a wk during tax season. I think he likes it though.

[vonfirmath]

My husband has worked the tax season for 5 years. Has a Master's in Math and is having trouble finding work beyond the tax season
He'd LOVE to do it full time.

[mskitty]

So one of the ideas I'm vetting is to do tax prep. I'm looking at courses offered this fall by some of the major tax prep companies, which are often followed by an entry-level job offer with them. I was thinking to maybe work with them for the first season to get a solid grasp of the actual product and their workflows and business setup. Then the following year I would try to branch out on my own (incorporating of course, getting liability insurance, etc). It seems pretty low overhead and with the internet/technology I can try to build a network wide and near of clients.

So my questions are: Is anyone doing this? Has anyone done this? Did you train / get started via a different route? Do you enjoy it? Why / why not? Thanks so much!!
2-4

It's been quite a few years ago for me. I worked for a major national tax service for three years, nights & weekends, around my full time job. Their training was pretty decent. I will have to say the wages sucked. It was a base wage ($8-9 an hour) plus end of season commission (added $2-4 an hour over the whole tax season) based on production.

I would suggest passing your enrolled agent exam if you truly want to work in the field. My employer offered extra base pay as an enrolled agent. It is also extremely helpful when you are a solo practioner. The test wasn't too bad when I passed it... If you have a bachelor's degree, you should be able to pass it with flying colors.
http://www.irs.gov/Tax-Professionals...Enrolled-Agent

One of my current coworkers has her own private practice she operates on nights and weekends. She has her clients schedule an appointment to drop their paperwork and go over some basic questions. She then schedules a follow up appointment 2-3 weeks later for them to sign, e-file and pay her.

Another option is to work for a bookkeeping or accounting service during tax season. Many of them hire additional help during the busy season with flexible schedules.

Another way to get your feet wet is to volunteer. VITA http://en.wikipedia.org/wiki/IRS_Vol...stance_Program and AARP both do trainings for volunteers to provide free tax preparation service to low income populations.

mskitty