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Location-Location-Location

The old adage couldn’t be more true when it comes to deciding on a location for your tax business. Where you locate your business will determine your success or failure.

  • What if you could locate your tax business in an area that has had extensive market research, demographic studies, and high traffic count?
  • What if you could set-up your tax office in a location that has hundreds of your target customers walking by your desk monthly?
  • What if you could have all this and your total office overhead for only $400 a month?

Welcome to our partner, Ace Cash Express.

By locating yourself inside an Ace check cashing store you have the benefit of having a large company do your market research for you. Ace does extensive studies before deciding on a location and with 1600 stores, they must be doing something right. Their clients are our clients. You couldn’t ask for more.

Set up your desk, plug in your computer and printer and you are in business! You will be able to hang your promotional posters and pass out your fliers. Last tax season’s promotion was a free 7” netbook computer to anyone that got a bank return. It was a success! You have the space from December 1st to April 30th so you can start marketing to your target audience early. Ace customers have come to expect to have a tax preparer available to them right there. It’s convenient and they can cash their check on the spot. There is nowhere that you can get this kind of office space in a retail setting with this kind of targeted traffic flow for this price. Your return on your investment will be substantial. Want to do it BIG? Rent several and hire tax preparers for each. At an average profit of $150 to $200 per return you will quickly be making substantial profits. Locations are available on a first-come first-serve basis. Hurry to reserve your choice location.

Chelle Martin ~ Vice President of Sales 

Offer in Compromise Program

With 1040TaxBiz, you will be able tap into the recession-proof, year-round, IRS collection solutions market.  The IRS accepts “Offers” to settle outstanding tax liabilities on an on-going basis.  As such, you will be able to make money outside of the traditional tax season.  With limited research, you will learn this market is enormous.  Certainly, you have seen the TV commercials by several national companies.  Our competitors sell this as a separate franchise.  We offer this service as a feature of our DAS PLUS Package.  We, in other words, are giving you a business within a business.

Offer in Compromise Defined

An Offer in Compromise is an agreement between a taxpayer and the Internal Revenue Service that settles the taxpayer’s tax liabilities for less than the full amount owed.

How it Works

We will train you to be able to evaluate the taxpayer’s problem and sell them on the right solution.  But, that’s all you have to do.  We take it from there and do all the heavy lifting for you.  Our team of Enrolled Agents will negotiate with the IRS.  We leave you to focus on getting more business!

Offer in Compromise Fees

The Offer in Compromise is a premium service.  As such, you will have a tremendous opportunity to earn high-dollar fees for doing little more than signing the customer.  You will charge considerably more for Offer in Compromise services than you will for actual tax preparation-frequently thousands of Dollars.  Do less and make more!

Chelle Martin ~ Vice President of Sales

IRS News Feed

Open a Tax office

  • Opening your own tax office involves a lot of activity that can seem to be getting you nowhere fast. There are licenses to get, certifications to earn, and office locations to find and as with the opening of a tax office, IRS obligations that can take months to complete. You must also take into consideration the time of year for opening a tax office and having adequate time to promote the business before the rush of tax season begins.

 

Obtain a PTIN

  • The IRS requires paid tax preparers to have a PTIN or Preparer Tax Identification Number to each return they prepare. The IRS has started to establish minimum training and continue educational requirements prior to obtaining the PTIN. The PTIN cannot be used in identity theft, and as such, is preferable to using your own Social Security number. Obtain a copy of the IRS Form W-12 and file it with the Internal Revenue Service. It can take as long as ten weeks to receive the PTIN and you will need it to complete the forms for the rest of the IRS requirements so you will be forced to wait.

 

Obtain an EIN

  • An EIN is an Employer Identification Number and can be applied for on the IRS website. Obtaining this number is free and the EIN can be retrieved instantly via the on line application. You will need this number to complete the city, county or state license applications and to open a business bank account. The EIN number serves to identify your unique business and is the number used to report income to the IRS. The PTIN is a unique number that identifies you as a tax preparer to the IRS. Both are essential in opening a tax office.

 

Become an ERO

  • An ERO is an Electronic Return Originator, this is necessary to allow your tax office to file electronic returns directly with the IRS. Approval to become an ERO requires a lengthy application process that includes a background check, fingerprint check and more. 1040taxbiz manage this from day one.  Apply for this as soon as you can, as it can take up to three months to get approved to be an ERO.  We do offer rapid express service

 

Local Licenses

  • Check with your local city, county and state offices to see which will require a license. In most areas, all you need is a business license in the county where the tax office is located. In some states however you will have to pay a fee to the state department of revenue in addition to the county license.

 

Choosing an Office

  • Once all the licenses and designations have been obtained, it is time to consider the location of the office. A client's loyalty to one tax office is proportionately related to the distance they have to drive to get there. That's really the way it is with any business grocery store, gas station or tax office. In some cities, there is literally a different tax office on every street corner. Look for a location that is some distance away from other tax offices but with a good amount of foot traffic.

 

Open At the Right Time

  • As a paid tax preparer you cannot open the office without all the IRS requirements, so if you are beginning the process of opening a tax office after the April preceding the tax year you wish to open in, it will be too late. Opening a tax office can take as long as one year in some cases. Once all requirements have been met, be sure you have a solid six weeks of promoting your location prior to the second week in January, which is when tax preparation season begins.

 

1040taxbiz------

       . We will walk you through the entire process and have you up and running by the start of tax season!

Chelle Martin ~ Vice President of Sales

 

Powerful Marketing! We’ve got your back!

1040TaxBiz has been in business for 17 years. With small business failure rates, that’s no small feat.  The major reason for our success is our powerful marketing. When you partner with 1040taxbiz, you get the benefits of a large company and our years of experience. If you’re not making money, were not making money. We have a vested interest in your success. We arm you with the tools, the materials, and the knowledge to make your business a long- lasting success. As a partner, you will enjoy our buying power- passing along the savings to you when you purchase custom marketing materials from our online shop. You can have that “big company” feel when you use our in-house produced TV and radio commercials. And, you will save because you can purchase your air-time through our media buying agency.

We go the extra mile for you. We are truly, in every sense of the word, partners. We act as your “back office” staff. Supporting you and your team on the front lines. We provide you with marketing training as well as a marketing manager. Every business has its nuances. We are sensitive to your unique needs. We help you overcome some of the challenges business owners face every day. We all know a happy customer is a repeat customer. So, that’s why we have a promotion every year. We want to help you increase numbers. This past tax season we gave away a free 7’ netbook computer to every customer that got a bank product. We also filled the need of immediate cash that was left void by the elimination of the RAL by offering a cash advance. These are just some of the marketing tools we give you so you stand out as one of the premier tax businesses.

We also teach you how to get schedule C business. In our DASPLUS Package, we have “shoebox accounting”. A tool you can give, for free, to the self-employed. This program allows them to properly track their income and expenses so at the end of the year they have clear documentation to provide to you for tax preparation. With schedule C’s running $400 to $800, you want as much of this business as possible! Now is the time to start planning. Call 1040TaxBiz today so we can get started on your custom business plan!

Chelle Martin ~ Vice President of Sales

                                                        

Why become an Affiliate and Open a Tax Office?

In order to succeed in operating a Tax Office, you must have resources and expertise.  With us, you will have the benefit of our industry-specific knowledge earned through 17 years of operating, setting up, and opening tax offices.  You see we know exactly what works and what does not.  You need not experience the high-cost of trial and error.  You are poised to learn from our mistakes, avoid costly errors, and position yourself to profit handsomely.

We have all the tools you need to operate a successful tax office.  We have the best tax software and the technical team to train you and your staff and to support you throughout the life of your business.  We have tax experts ready to answer the tough questions. We have relationships with the banks needed to deliver the fast money. We have a customer service staff always available.  We have all the marketing materials you will ever need available at wholesale prices.  And, most importantly, your personal marketing manager will show you step-by-step how to market your tax office.

We have a proven track record of starting and supporting tax offices all over America.  Our formula and systems work.  Why go it alone and reinvent the wheel when you can simply join a successful operation with documented success?  You will save time, money, and significantly increase your chances to earn a profit.  The cost of doing it yourself will far exceed what we will earn by putting you into business with us.  Leverage your risk and maximize your profit by joining our team today!

Chelle Martin ~ Vice President of Sales

Tax Policy

 

Starting a Business

1040taxbiz is there to help!

Listed below are links to basic federal tax information for people who are starting a business, as well as information to assist in making basic business decisions. The list should not be construed as all-inclusive. 10taxbiz provide it as a service for our Partners.  We work with every partner to get you up to speed by tax season/

Other steps may be appropriate for your specific type of business.

Information about specific industries can be found on the Industries/Professions Web page.

For information regarding state-level requirements for starting and operating a business, please refer to your state's Web site.

What New Business Owners Need to Know About Federal Taxes

References/Related Topics
 

 

Start a home based business

$10,000.00 to $20,000.00

Every Tax Season

When it comes to running your own home business, there are many tax advantages that you may not have thought of. And if you're good about keeping records and receipts, you can claim many different items legally.

Of course, you want to make more profits than you do deductions, but don't cheat yourself out of these tax advantages.

The home office deduction

When it comes to your home business, you can find a great tax deduction for the space in which you work. This can mean that a part of your home expenses can be deducted for using that space as well.  While the IRS has a more detailed version of these facts, it basically boils down to the fact that if you have an area in your house that is used only for your business, you can deduct the expenses that support that area. Of course, the area must be the only place that you do business and must not be used for any other purpose. Setting aside a room for your office is the best way to regulate this deduction.

Office related deductions

And of course, within your home office are a lot of opportunities to add further deductions. If you need to make repairs or improvements that are necessary for your business, these are deductible.  Whether you have a mortgage or a rental payment on your property, you can figure out an appropriate deduction. Find out how much space your home office takes up in relation to the rest of the home. For example, if your office takes up 20% of your home, then you can deduct 20% of your rental payment or mortgage interest. The same rule applies for property taxes as well.  If you own your home, you will need to figure in depreciation costs to this figure.

Other deductions

And there are still more tax advantages for the home-based business. You can deduct for transportation that is necessary for your business at a certain amount per mile. Check with the IRS for the most current figure.  If you need security for your business, then that too may be deductible as well as insurance. Insurance is deductible at the same percentage as the mortgage interest payments if you carry homeowner's insurance. And don't forget about moving expenses, entertainment expenses for clients, utilities (at that same percentage) as well as tax preparation expenses. All of these can be deducted from your overall profits when you go to pay your taxes. One thing to note is that a lot of small business owners are afraid to take these deductions because they think that they will be audited. But if you're careful about keeping receipts and not deducting anything out of the ordinary, you're well within your rights as a home-based business owner.  A home-based business not only offers you the change to be working for yourself, but also a few tax advantages along the way. Talk to the IRS to see what deductions are new each year and cash in!