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I decided this year that i want to prepare 1040 returns, and i just wondering if anyone would be kind enough to answer some questions i have about preparing. They are are as followed:
1) Do i need to come up with a business name if i am the only who will be preparing taxes? If so does it matter what name i use for my business
2) Aside from the PTIN what else would i need to begin preparing returns?
3) What is the best software to use for a beginner like myself
4) Where would i find an organizer that i could to supply my clients?
5) If i already prepare taxes for a firm that i work at am i still able to prepare returns on my behalf?
Thank you for taking the time to read this post
- AmyLv 72 months ago
You need to be certified as a CPA or Enrolled Agent, which requires you to take classes and pass an exam before tax season begins.
In order to prepare 10 or more returns, you must complete an extensive background check, including registering your fingerprints.
You should get started ASAP if you want to be hired in 2022.
- EvaLv 72 months ago
You are getting a very late start. You will need an EFIN if you are going to prepare more than 10 returns. Hopefully your PTIN is already in order. Your state may also have registration/education requirements. Since you are just starting out, you won't want to pay the big price for professional software this year. Some companies, like Drake, allow you to pay per return. If you are working for someone, preparing returns for others, and being paid to do so, your employer may not look kindly on you preparing returns on the side instead of bringing the business to your employer.
- A HunchLv 72 months ago
It's basically March 1st... no one is going to be breaking down your door to have you do their taxes.