Every journey begins with the first step, and in episode 1 of Tax Pro Nation, we take the Initiation step in the 9 steps of The Pronto Path. The Pronto Path is a career roadmap or framework to remove fear and doubt from the tax profession. If you’re wondering how to get from where you are right now to where you want to be as an independent tax professional, this show is for you!
Step 1 is all about getting educated, registered, and deciding which direction you will head in the business.
Resources mentioned:
- [28:04] The one federal number I need to get as a tax professional
- [33:15] Visit irs.gov for how to become an e-file provider
- [33:26] Download the free booklet “How to Start Your Own Tax Preparation and Consulting Business“
- [34:08] Visit https://www.sba.gov/
- [34:15] Visit https://www.score.org/
- [50:49] Volunteer Income Tax Assistance (VITA) or Tax Counseling for the Elderly (TCE) Programs
- [54:39] “75% of CPAs will retire in the next 15 years“
Tax Pro Nation is sponsored by Pronto Tax School, Inc. Sponsored links include:
- The Pronto Path infographic (free)
- Basic Income Tax (Federal) course link
- Business Tax Verified online course link
Topics discussed:
[02:00] Naming misconceptions in tax professional credentials
[03:17] 4 main reasons tax pros get into the business
[04:12] What kind of money can be made working only a portion of the year?
[06:09] How one tax pro uses his new flexible schedule and time freedom to pursue his passion of Dragon Boat Racing
[06:59] Why a stay-at-home mom is a great fit for the tax industry
[09:23] How tax pros can be the hero for their clients
[10:15] Do I have to always be on the go and extroverted to be a tax pro?
[12:29] Why setting proper salary expectations is key at this step
[14:28] What if I am an intrapreneur at a tax company? Or want to start there?
[15:42] The surprising truth about getting into the tax business
[17:02] Requirements for Oregon (OR) tax pros
[17:18] How many states have zero requirements for education or testing?
[17:32] Does my state have any requirements?
[18:55] Does doing someone’s taxes make me responsible as the tax preparer?
[21:07] Why isn’t there a federal tax license test? Is one coming?
[22:13] Where to check if my state requires education or testing? Pronto Tax Hotline 310-422-1283
[23:44] Should I “go pro” in states that don’t have any requirements without training/support?
[25:49] The IRS instructions and explanations on the tax forms should tell me everything I need right?
[27:14] Visit taxpronation.com/basic to learn about the Basic Income Tax courses to get educated
[28:04] The one federal number I need to get as a tax professional
[30:19] What kind of education courses do I need to start with?
[30:40] Requirements for California (CA) tax pros
[32:15] What other numbers do I need as a tax pro?
[33:57] Reminders for entrepreneurs starting any business to keep in mind
[34:59] What if I don’t want to start my own tax business right away? What are my other options?
[35:40] How many get started in taxes unintentionally
[36:02] What can set you apart from other applicants to land a good tax pro job
[36:54] The challenge independent tax businesses have to train up their staff and efficiently onboard them
[37:37] A great way to determine which direction you want to head: Entrepreneur or Employee to start?
[38:14] What can I expect when I go to work as a tax pro employee?
[39:52] Advantages I may already have to succeed in the tax industry
[45:52] “When we help someone with their taxes we are helping them with their life.” (Tweet that) (Instagram Card)
[46:14] Being a Why business instead of a What business
[48:14] Book: Start With Why by Simon Sinek
[48:28] The entrepreneurial wave and how to profit from it as a tax pro. Visit taxpronation.com/business
[49:15] What can I expect in my first tax season?
[50:32] A third direction besides entrepreneurship or employment for tax pros to consider
[52:52] Is tax preparation still a good business in light of the new tax law?
[54:39] “75% of CPAs will retire in the next 15 years”
[55:01] Reverse ageism and the benefit of experience
[56:02] How to enter a virtuous cycle early in your tax career through mentoring
[58:22] Individual tax returns on a postcard and the opportunity this creates
[01:00:05] Why Andy created the Business Tax Verified online course
