Work Safely from Home
Has the Coronavirus affected your normal employment? Most of us weren’t in a position to simply switch over from working in the office to doing that same work from home. If you’re in the restaurant business, for example, that sort of simple adjustment just doesn’t work.
People are staying home out of necessity. And with most children now also at home going to school online, parents are uniquely needed at home. The shopping centers, restaurants, movie theaters, and theme parks are all mostly empty on a daily basis.
You deserve a new career path that allows you to work safely from home so you can be there for your family. Positions are always available in this new Gig Economy. But we have tried and true career advice based on actual experience: become a tax preparer.
Downfalls of the Gig Economy
You can easily work for a delivery or ride share service if you have a proper vehicle, which is at the core of the Gig Economy. But, in those positions you are taxed as an independent contractor. In addition to that, you are causing wear-and-tear on your own personal asset without fair return. Working as an independent contractor means that whatever business you are dedicating your precious time to serve is not paying anything toward your Social Security safety net.
Your annual tax form for the self-employed is IRS Form 1099-MISC. Unless you are earning a lot, your Social Security and Medicare contributions will be significantly less than if you were paid as a regular employee.
When it comes time for you to collect Social Security, your monthly check may be substantially less than it would have been if your employer(s) had paid you as an employee. That will be a painful reality for anyone lacking other retirement income prospects or assets.
When we work as an official employee, the employer pays into our Social Security and Medicare fund accounts. At the same time the employee pays into state disability insurance and state unemployment insurance. The employer pays in 6.2% of every dollar you earn in to Social Security and tracked based on your Social Security Number. In addition the employer also pays 1.45% of your gross earnings into Medicare on your behalf.
These benefits seem trivial until you no longer have access to them.
That means all of these people working for Uber, Lyft, Postmates, etc. are being severely shortchanged when it comes to their future retirement benefits. After all that they still weren’t able to work safely from home during this pandemic.
Are any of you expecting a hefty inheritance anytime soon? Me neither. Also, do not forget that those working Gig Economy jobs are not normally eligible for taxpayer funded social safety nets like state disability or unemployment benefits. The previous social safety nets afforded regular employees here in California have been cut for the sake of shareholder profits.
So, if jobs in this new Gig Economy are much less likely to provide a comfortable retirement, then what’s the solution? What positions are available for Americans who need a safe working environment, living wage, and healthy retirement contributions? How can folks work safely from home? Like we mentioned above, you can become a tax professional.
You could begin a new career in an industry that is always in demand. Let’s let that sink in. What do I mean by, “always in demand?”
Enter a Profession Always in Demand
I literally mean the services provided by tax preparers are mandated by our Federal Laws and the laws of most states. I am talking about Personal Income Tax Return Preparation. Americans are legally required to pay income taxes and submit annual personal income tax returns.
At least half of our population require professional assistance preparing their personal tax returns. Because of the inherent complexity of the U.S. Tax Code there are always tax preparer positions available, especially during Tax Season. We generally consider Tax Season to be from January 1st to April 15th of each year. The IRS mandates that information returns such as Form W2 or Form 1099 be sent to taxpayers by January 30th of each year.
Now is the ideal time to enter the tax profession. Generally the best way to get started is to study to become a tax preparer. There is a lengthy list of reasons as to why you should jump right in and study to become a tax preparer. One unique benefit is that you can set things up so you can work safely from home.
Requirements for Becoming a Tax Preparer
September is a great month to begin training to be a tax preparer. You currently have enough time to be prepared to work by next Tax Season. There are different career paths you can take; however, most people begin by learning to prepare personal income tax returns first. Typically the toughest part is getting your first 20 or so clients under your belt and then you will start to feel a certain “flow.” Conversely, you may realize you’re not a good fit for this business—it’s usually one or the other.
There are numerous directions you can take your tax career once you have some foundational experience.
For example, after gaining a year or two of experience, you may decide to begin your own practice. Becoming self-employed may allow you to work safely from home. Your earning potential is only limited by a few factors. First, how hard you are willing to work? Second, how intense is your personal internal drive to succeed? And finally, how good are you at developing and serving your clients. This all sounds like a simple path to success!
The seasoned professionals at the Pronto Income Tax School have created a tried and true path for success in the tax profession. It’s called The Pronto Path.
The Successful Tax Professionals Are Always Learning
Most folks hear the word taxes and just immediately begin thinking negative thoughts. However, taxes are a legal requirement controlled by politicians. So, the U.S. Tax Code is a giant mess of legal jargon effecting every aspect of life. This all sounds confusing, right? That’s where we Professional Tax Preparers come in.
When we become a tax preparer we first learn the tax laws related to personal income tax return preparation. And then we learn how to combine that knowledge with extremely powerful tax preparation software.
So, in essence becoming a tax preparer requires the ability to read and the willingness to constantly learn. We are always learning new words and their definitions while utilizing a computer.
Basic math skills are required. And by that I mean addition, subtraction, multiplication, and division. In reality (letting you in on a little secret), our tax software does most of the calculations. But we as the tax professionals must understand everything the tax software is doing for us.
The foundation for a successful new career that will allow you to work safely from home is to be able to read, learn new definitions, and do some basic math. The main ingredient necessary for you to become a tax preparer is the willingness to put in the work. You must be willing to read, read, and read some more. It’s important to understand that most of what we must learn is confusing on the surface. So repetition is necessary.
So, you will find yourself reading the same information over, and over, and then over again. Isn’t that a small price to pay to work safely from home while enjoying unlimited earning potential?
In all honesty, this journey will require hard work. But this is a rare industry that you can enter and rise without a college degree.
All you need to do is take a course introducing you to personal income tax preparation. That is step one. The price of admission to the Personal Income Tax Preparation Industry is taking and passing an Introduction to Personal Income Tax Preparation Course and registering for your IRS professional identification number or PTIN.
This new career is available to you right now. Enjoy this totally free eBook that explains how to become a tax preparer along with the two primary paths available to those new to the profession.
Free eBook on How to Become a Tax Preparer
Most of us are stuck at home, and many of us are currently unemployed. Why not take an online course that can lead to a professional career? Use your time wisely now to do what is necessary to become a tax preparer. Your new career may allow you to set your own hours and work safely from home. For your very first income tax course, check out the tax training options at courses www.prontotaxschool.com.
The Tax Preparer Teamwork Facebook Group
Also, if you’d like to join an outstanding community of working tax professionals, you can join our private Facebook Group called The Tax Preparer Teamwork Group. Join here us! That’s where we answer each other’s questions and help each other, to guide you in your new career.
Get started in a career field with limitless earning possibilities that can also allow you to work safely from home.