Become a Tax Advisor


There are countless small business owners just like you; many have waved good-bye to full-time employment and are working tirelessly in their home offices, trying to achieve financial freedom.  Unfortunately some of them are not taking advantage of tax planning in order to protect themselves, their families, and their futures.  That’s where you step in. 

A great way to increase your service offerings, your clientele and your bottom line is by adding tax preparation to your menu.  But don’t mistakenly assume that tax services can only be offered during tax season; you can offer tax planning and advisory services year-round, in addition to accounting. 

As you help clients take advantage of tax benefits, they can use the information you provide to better plan for self-employment necessities like health insurance, retirement, and taxes.

Health Insurance

Without an employer to provide for their health benefits, many small business owners opt not to insure themselves and their families due to the often high costs.  In doing so, they put themselves at financial risk.  Senior Magazine Online claims that of the 41 million uninsured Americans, 60% of them are self-employed.  If small business owners cannot secure coverage through a spouse’s benefits, they should find a medical plan for themselves and their families and then open a MSA (Medical Savings Account).  All the money placed in the account is tax deductible and can be used to cover out-of-pocket medical expenses.  Anything they don’t use remains in the account and is sheltered until withdrawn.


Many small business owners also view retirement as an extravagance they can’t afford to worry about in the early years of their start-up.  Unfortunately, those early years often turn into decades and, before they know it, they’ve reached retirement age and have yet to prepare for it.  Some small business owners expect a windfall to cushion them and their lack of planning.  Either way, many of these individuals don’t contribute to a retirement account, and again, put themselves at risk.  Your job is to encourage clients to prepare for their retirement by finding a vehicle that matches their needs: Kreogh Plans, SEPS (simplified employee pension plans), tax-deductive IRAS (individual retirement accounts), annuities, Roth IRAs, etc.

Tax Accounts

Good ole Uncle Sam won’t be making automatic withdrawals from business accounts in order to cover taxes.  So the loyal, self-employed taxpayer must prepare for that time of year when the government requires its cut.  This is where tax planning can help the small business owner take advantage of key tax benefits while retaining and organizing all necessary receipts, bills, etc.  The small business owner should also open a special tax account into which money can be deposited throughout the year so they’ll be ready to file their taxes (and pay them in full) when the time comes.  Nothing can cripple a business more than owing the IRS a lot of money in unpaid taxes.

A tax preparer’s skills are not seasonal; they are valuable year-round, and you can market tax services so that current and potential clients recognize their value.  Consider growing your business to include tax services!

Professional Tax Preparer (PTP)

Many tax preparers make more money in the months leading up to the April 15 tax deadline than others make all year long! Since all individuals and businesses, small or large, are required to file taxes, tax preparation is a respected skill that will always be in demand.  And many of your current clients would probably be happy to have you file their taxes as well as perform the standard accounting services you currently provide.

Also consider who your clients will trust to file their taxes.  Countless individuals are scammed each year by people who claim to know what they’re doing.  More and more are becoming weary of tax preparers without any credentials.  The Tax Preparer Designation will put many of those individuals at ease, assuring them that you have been properly trained in tax preparation. 

Secure your practice’s success by adding a professional designation to your name.  Call Universal at 1-877-833-7909 to enroll now!



–.  “Financial Planning for the Self-Employed.”  Senior Magazine Online

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