Our Tested Model and Formula for Success
Anyone who understands the opportunity in the tax business joins Maxim as a Tax Partner. It's that easy. Generating high-quality leads costs almost nothing. Our plan is completely proven and without comparison or competition! Come join the network of 1,200+ tax partners.
TOP TEN LIST
Reasons to join Maxim Tax Services as a Tax Partner ~
10. Your Ideal Business —This opportunity fulfills all the ideal requirements of starting a successful new business venture
9. Tax Industry Trends — 62% of Americans had their taxes prepared by a CPA, Tax Franchise or Preparer
8. Proven Performance Record —We have a solid ten-year history of high achievement and are proud of our spotless reputation.
7. Maximizing Efficiency —We assume tax preparation liability which gives you the ability to do more tax returns than the other franchises
6. Choice of Packages- We have a variety of packages to choose from based on your goals and resources
5. Turnkey Operation — You can make a profitable turnkey business within 3 months unlike other franchises that give you profit after 3 years
4. High Profit Margin — Our business is able to provide you with high profit margins and low investments in the tax preparation industry
3. Better Than Support —We provide every tax partner with 100% back end support through online and phone.
2. Interview Based Software—Our software is by far the best in the industry and takes away all complications from the business
1. Your Motivation —We can tell you at the outset whether it is worth your while to partner with us. If you have what it takes, let's talk!
Toll Free Number: 1-(800)-604-6434
E-mail: support@maximtaxservices.com
Showing posts with label tax preparation business. Show all posts
Showing posts with label tax preparation business. Show all posts
Wednesday, October 19, 2011
Sunday, October 9, 2011
Tax Franchise vs. Tax Partnership
Tax Franchise vs Tax Partnership
So, you are now experienced in the Tax Preparation industry and have a customer base that you think will like to do their taxes with you. With all this in mind you want to start your own Tax preparation business. While researching your options for starting this business you come across various models from tax franchises, tax partnership to independent tax locations. In this article, we will help you decide between tax preparation franchise and tax preparation partnership.
Cost/Pricing - Any business that you will start, you will need to invest some capital. However, when you do your research you will find that most tax franchises like H&R Block, Jackson Hewitt etc., have a significant franchise fees which can range from $20k-$75k, which makes it very difficult for an average person to enter this business. And most of the franchises project a return on investment after 3 years. However, in Tax Partnerships, the investment is significantly low and you can get your return in your first tax season. Therefore, for a person with some experience in this industry it becomes easy to invest and run a successful tax preparation business without worrying about recovering his/her capital.
Business Operations Flexibility - When you purchase a franchise, you have to operate the way the franchise wants you to. You loose the flexibility of choosing your own location you have to run your business based on their rules and regulations from timing, pricing etc. So, you feel you are no longer running YOUR OWN business but actually working for someone else’s business. When you sign up in a Tax Partnership you have more control of your business. Who knows the location and your customers better than you. So, why should you not be able to manage your business the way you know best and the way it can appeal to your customers.
Royalty and Splits - Tax franchises charge you not only initial start up capital investment but also a high royalty fee of your tax preparation fees. These fees eat into your profits and make it harder for you to recover your investment sooner. In Tax Partnerships, there is a split which is negotiable and not tied to gross revenue. Also, Tax partnerships do not ask an additional fees for their national marketing campaigns.
Contract Period - Most franchises have a contract period of 5 or more years and also do not allow you to add more services to your business. This limits your investment and recovery of investment longer. Tax partnership term is only 1 year and most tax partnerships also promote many other add on and ancillary services that allows you not only to to help you do taxes for your customers but also to sell other services to your customers. Tax Partnerships allow you to recover your investment faster than any other franchises. For more info on starting your own tax prep business contact us for more details at www.maximtaxservices.com or Raj at raj@maximmultiservices.com
HOW TO START YOUR OWN TAX PREPARATION BUSINESS
Tax preparation industry is a rapidly growing industry. Last year 62% of Americans, had their tax returns filed by a paid preparer or a tax franchise. Tax preparation is a very lucrative industry for people who are interested in numbers and are looking to enter this business. Right after the holiday season, when many are strapped for cash the tax preparation business helps provide additional income and many like stay at home moms and seasonal employees, also like the seasonality factor of the business as well.
So how does one go about starting their own Tax Preparation business. Below are some of the steps listed to help you enter this business:
1) Get Training- This is the first and foremost thing you have to get done. You can get this basic Tax Prep course training from any of the big franchise tax companies or even at the IRS website. This training will help you understand the basics of tax preparation like schedules, tax forms and how to calculated taxes for your clients. Going forward the IRS will make it mandatory for tax preparers to be tested and have certain minimum hours of training.
2) Location- Once you have completed the training, you need to know where do you want to conduct your business. If you want to do this from your home you need to have an existing client base which might include friends and family. If you want to start at a retail location you have to know which area you want to start your shop. You would have to sign up a lease and register for different utilities. You will have to register with local authorities to register your business in your area. Once you have your location you will also need to get an EFIN number from the IRS which will allow you to e file your customers taxes.
3) Tax Software- You will need to look into different tax software that are in the market which can allow you to file your customer’s taxes electronically. The advantages of tax software is that once you have your customer’s information in the software it will be easy to create various schedules using the basic information provided in the software. The software gives the tax return and your office a professional look, it also allows you to keep your customer’s information for future purposes in an electronic format.
6) Marketing and Advertising- Once you have your location decided you will have to start marketing and advertising to your customers to let them know that you are available to do their tax returns. The types of advertising that you can do can be through flyers, brochures and webmarketing. You will have to make sure your customers can find you therefore, you need to list your number in the phonebook. You might also want to partner with neighboring businesses who can keep your brochures and flyers in their stores and also refer your business to their customers. When advertising make sure your advertisements and professional and appeal to your customers.
With keeping all these steps in mind and making sure you provide your customers great customer service by keeping wait time short, printing and providing your customers their tax returns in a neatly arranged folder you can enhance your professionalism and make sure your customers come back to you year after year. To find out more about starting your own Tax Preparation Business please visit our website at www.maximtaxservices.com or contact Raj at raj@maximmultiservices.com
So how does one go about starting their own Tax Preparation business. Below are some of the steps listed to help you enter this business:
1) Get Training- This is the first and foremost thing you have to get done. You can get this basic Tax Prep course training from any of the big franchise tax companies or even at the IRS website. This training will help you understand the basics of tax preparation like schedules, tax forms and how to calculated taxes for your clients. Going forward the IRS will make it mandatory for tax preparers to be tested and have certain minimum hours of training.
2) Location- Once you have completed the training, you need to know where do you want to conduct your business. If you want to do this from your home you need to have an existing client base which might include friends and family. If you want to start at a retail location you have to know which area you want to start your shop. You would have to sign up a lease and register for different utilities. You will have to register with local authorities to register your business in your area. Once you have your location you will also need to get an EFIN number from the IRS which will allow you to e file your customers taxes.
3) Tax Software- You will need to look into different tax software that are in the market which can allow you to file your customer’s taxes electronically. The advantages of tax software is that once you have your customer’s information in the software it will be easy to create various schedules using the basic information provided in the software. The software gives the tax return and your office a professional look, it also allows you to keep your customer’s information for future purposes in an electronic format.
6) Marketing and Advertising- Once you have your location decided you will have to start marketing and advertising to your customers to let them know that you are available to do their tax returns. The types of advertising that you can do can be through flyers, brochures and webmarketing. You will have to make sure your customers can find you therefore, you need to list your number in the phonebook. You might also want to partner with neighboring businesses who can keep your brochures and flyers in their stores and also refer your business to their customers. When advertising make sure your advertisements and professional and appeal to your customers.
With keeping all these steps in mind and making sure you provide your customers great customer service by keeping wait time short, printing and providing your customers their tax returns in a neatly arranged folder you can enhance your professionalism and make sure your customers come back to you year after year. To find out more about starting your own Tax Preparation Business please visit our website at www.maximtaxservices.com or contact Raj at raj@maximmultiservices.com
Subscribe to:
Comments (Atom)