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I am contemplating quitting my job in public accounting to start my own tax business. Anyone here do that? I am a CPA and have been for about 5 years. I could use some advice on how to get started. If you don't know anything about that, can you tell me what you guys look for in a tax service. I think I would charge about $50 for a basic 1040 going up from there for additional forms and maybe $150 for business returns. THANKS!
Personally, I do my own taxes. Even owning my own business and having tax write offs it isn't difficult to use tax software to do them and 9 times out of 10 it's cheaper than going to a person. So just be careful before you quit a job to do that. A lot of people are opting to do it themselves in order to save money. I don't pay anywhere close to $150 and it only takes me an hour to do my own so, for me, it's money well saved. Some make a decent living doing it, but others struggle outside of tax season, so make sure those are things you consider as well, and some will have to do with your specific area of the country also.