| Perhaps you have existing skills as a bookkeeper and | | | | you obtain the necessary licenses to do so. In most |
| would like to expand your service offerings. Offering | | | | states, you don't need any special education to |
| tax services is an easy way to expand a | | | | become a tax preparer. However, this is going to |
| bookkeeping business. You have the client's financial | | | | change. In 2011, the IRS will start mandating preparer |
| information already, so it's a natural progression to | | | | registration. |
| offer tax services. Tax services are more lucrative, | | | | Currently, the IRS is working on a plan to require |
| but the work is seasonal. Most tax professionals | | | | registration for all tax professionals. This is expected to |
| charge an average of $150 to $350 for an individual | | | | start sometime between 2011 and 2012. If you decide |
| return and even higher for business returns. | | | | to offer tax services, it might be a good idea to start |
| Most small businesses would love to have one place | | | | researching your educational options right away, so |
| to go for payroll, tax preparation, sales tax reporting, | | | | you can be prepared when the new rules go into |
| bookkeeping, and financial statements. The best part | | | | effect. The best way to avoid this registration is to |
| about offering these additional services is that they | | | | become an Enrolled Agent! Enrolled Agents are |
| generate revenue all year round. Tax preparation is a | | | | automatically enrolled to practice before the IRS and |
| good way to generate large revenues and a steady | | | | are therefore exempt from the registration |
| client base. On the other hand, bookkeeping and other | | | | requirements. |
| financial services provide a stable yearly income and | | | | There are many enrolled agent study review courses |
| generate year-round revenues. | | | | available. I am the co-author of the PassKey Enrolled |
| Why not make your practice a "one-stop" shop? | | | | Agent Review, I can tell you that a good review |
| Always explain all the other valuable financial services | | | | program can mean the difference between a passing |
| you offer. Have a brochure ready and make sure | | | | and failing score on the EA Exam. The IRS Enrolled |
| every potential client knows that your office is their | | | | Agent Exam is exclusively offered by Prometric, which |
| "one-stop" shop. You can even consider offering | | | | has been contracted to administer the exam for the |
| insurance services and real estate representation, if | | | | Internal Revenue Service. |