How to Start a Tax Preparation Business from Home

As an insider in the cloud accounting world, I can tell you that many virtual bookkeeping services don’t follow the best practices that have been listed above. If you don’t walk away from your initial interactions with your prospective virtual bookkeeping service feeling 100% confident that this company has your back, then just say no. At my company, one of the specific things we teach accountants and bookkeepers who want to run a virtual bookkeeping service is that they should specialize in a few industries. This is true of any bookkeeper — in person or virtual — that you would hire. It’s especially true of virtual bookkeepers, however, because this will determine if the apps they use to do business are relevant to and compatible with your business.

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• If you’re looking for something very cheap and simple and your business is in its very early stages, the affordability of Merritt Bookkeeping makes it a good choice.
• All plans come with onboarding, a dedicated bookkeeper and account manager, reconciliation at month-end, balance sheet, P&L, statement of cash flows and a portal with document storage.
• Connect one-on-one with experts so you can manage your books with ease.
• Its features include automation of tasks, Gusto payroll processing, balance sheet production, income statements, accuracy checks and transaction databases.
• Unlike certified public accountants, bookkeepers don’t file tax returns or audit financial statements.

Then, consider how that time could be better spent on other aspects of your business—like getting new clients, developing new products, or enjoying some much-needed R&R. If you’re still on the fence about hiring a virtual bookkeeper, crunch some numbers to help reach a decision. Check online reviews, and if you can’t find any, ask the bookkeeper if they can provide testimonies or connect you with some current clients.

• Bookkeepers often need to store documents such as client contracts, past tax returns, bank statements, spreadsheets, and more.
• Learn how you can use BILL’s accounts payable software to automate your processes.
• Then, you’ll get a dedicated bookkeeper that is overseen by a senior accounting manager.
• Every entrepreneur knows that their most stretched resource is the number of hours in a day.
• Our Plus plan includes access to a dedicated accountant and starts at $175 per month.
• Prices start at $500 a month for the Essential plan, which is geared towards startups that use cash-basis accounting.

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Maxim Liberty’s selective offering of add-on services aligns with their area of expertise. This focused approach delivers superior value at competitive prices, reflecting their dedication to excellence in their core practices. For a limited time, Maxim Liberty is offering a one-month free trial of their bookkeeping service. Their high rate of client retention speaks to the service they provide.

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Connect with our team of experts when you have questions all year long. Your financial records represent the core of your business, and if they’re not maintained thoroughly and daily, your small business can feel the effects. Bookkeeping is the process of categorizing all your income and expenses into a clear reporting structure. If you’re several years behind on your bookkeeping and taxes, you can get caught up and filed with Catch Up Bookkeeping. You can add any amount of Catch Up bookkeeping to a standard Bench plan.

• Most other virtual bookkeeping services give you basic financial reports only, like income statements and balance sheets.
• The firm specializes in preparing personal and corporate taxation while providing fractional CFO work and leading the accounting and finance function for several small-to-medium-sized businesses.
• You’re limited to one scheduled appointment at a time and appointments have to work within your bookkeeper’s schedule.
• Virtual bookkeepers use bookkeeping software to organize the daily financial activities of your business – including the payments you’ve processed, and the expenses incurred.

They also offer a 30-day money-back guarantee so you can make sure they’re a good fit. Backed by a team of bookkeepers and CPAs, Xendoo can get your business financials under control through expert guidance and regular check-ins. Xendoo is also an affordable option that can scale with your business. You should be able to access a dedicated bookkeeper for any questions or advice and one-on-one assistance. Because each plan depends on many factors, we looked at the value provided in terms of the time and potential money that you’re saving by using the service.

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Someone had to be there to run the report, save it in the right format and send it out. In this age of cloud accounting and virtual bookkeeping services, they should be able to have reports sent to you on a schedule. Forbes Advisor analyzed 13 online bookkeeping services and considered 15 metrics such as price, features, customer service, ease of use, integrations and service level.

OUR VIRTUAL BOOKKEEPING TEAM

You don’t need experience to become an Intuit tax expert , but you do need to be willing to learn. Click the blue “Sign up for free” button and fill out all required fields. This will give you access to a library of educational content containing everything you need to excel as a tax preparation expert with Intuit. As a TurboTax Verified Pro, you’ll have access to Intuit’s network of thousands of potential customers, referrals, and local marketing support. This means you won’t have to spend as much time marketing yourself or building your client base from scratch. Instead, you can leverage Intuit’s brand name, resources, and support to fast-track your success and build a tax business quickly.

Join thousands of small business owners who trust Bench with their books