[Anonymous]

How many of you prepare taxes on the side? And do you plan on bringing in tax business or your own clients to your firm when starting in public accounting?

[ForgottenOne]

Here is my experience so far doing taxes on the side. You consider yourself lucky if you are able to get over 50 returns annually on the side. Most are averaging at 20-25 returns. I would not recommend bringing them to public accounting cause you might not be in control of fees.

If you are doing this on the side, most of your clients are individuals or small businesses. Thanks to tax softwares, most individual returns are self-prepared nowadays. On top of that, if you are EA or CPA, it's harder for you to compete against some PTIN only preparers. Due diligence is almost none-existence with them. For example, they claim American Opportunity Tax Credit without a 1098 T, not questioning about cash income on schedule C and not questioning overstating expenses on schedule C. Most tax payers will not file with you if you are unwillingly to pull numbers out of thin air to maximize their refund.

This is the dilemma we are facing if you plan to do taxes on the side. It might not worth your time.

[SeattleCPA]

Doing taxes on the side seems like a really low profit operation to me. There is really very little margin in those simple returns.

The interesting work and the work that'll pay for top-notch tools and compensate you for your investment in your career is the complex stuff.

[Author]

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