How Many Tax Returns Can I Prepare a Day?
By Tim Frye
When you are looking to make big money doing taxes, you should be planning on doing a voluminous amount of returns each day. There are a variety of methods that can be employed when making great money doing taxes, but simply having a high average of returns per day is probably your best bet for immediate and consistent income. A good average of tax returns completed per day would generally be around ten, depending on your own subjective circumstances. It will take a while to get to this point, and this article will look into the best ways to average ten returns a day.
Improve My Tax Preparation Skills
As with any facet of life, a good knowledge of the roots and foundation of your particular business will set you on the fastest path to success. So before you planning on doing a ton of returns every day on average, you should obviously get your basic skills down first. It’s simple. Imagine a major league singles hitter who constantly focuses on keeping his swing mechanics consistent and every day harps on keeping his eye on the ball. Even though eventually these things will become second nature for him, he can always go back to that foundation and know that he is rooted in the fundamentals of the sport. If you don’t know your basic tax program, if you don’t know your basic tax provisions and are not measuring the constantly changing current of IRS tax changes, there is no point in trying to advance into more complicated and sophisticated tax arenas.
Master the Short Form 1040
In the beginning of the tax year, you are going to be doing more short forms than long forms. The first people that are coming in to your office are usually going to require simple w2 short forms. Early season clients often are the lower earners, therefore bigger EIC recipients, therefore more likely to rush into your office right away to get that huge check just waiting to be cashed. So early in the year is where you can do a ton of short forms a day, because they obviously take less time to complete. These returns, however, can actually sometimes bill just as much as a simple long form if you charge by the form, because many of your early clients will have kids, which in turn means additional forms for the EIC and Child Tax Credits, along with some other applicable forms.
Build a Strong Referral System with Tax Preparation Discounts
Getting to the point where you are averaging ten returns per day will not happen overnight (without engaging in some sort of soul selling, which only you will keep doing the devil’s taxes for perpetuity. And that is what hell truly is). So in order to get to this average or higher you must, obviously again, gain as many clients as possible over the years through a strong referral system. One recommendation would be to let your clients know that anyone brand new they bring in who completes their taxes with you will earn the current client $20 in cash, sent to the client upon the referral’s tax completion. Over time, if you are doing an excellent job, are improving your skills and consistently adding to your credentials, the client’s will come. As the old adage goes, if you build it, they will come. So get to the building and watch the money pile.
If you’re looking to hit your record average for returns a day, you’re going to need the training and knowledge. Go to prontotaxclass.com and utilize all facets of the site that are there to assist you to be the best tax preparer you can be!