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Feedback for a New Business dealing with tax preparation

 
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bbowen519

posts: 1

Jul 19, 2009 4:09 PM ET    Quote  Report Abuse
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My idea is VERY simple; Over the past years i hear many cases where people hated going to H&R Block or some other places to get their taxes because either they had to wait or they had to return home to get more documents. Also, sometimes you are just unable to make it to the office because of the kids....College students often struggle with taxes and are unaware how to maximize their refund legally..

Those other tax services charge upwards of $200+ to have an instant refund (RAL) or can charge 125+ to have a rapid refund (RF)

My tax service would charge flat rate
$70 for simple returns
$80 for simple return + Rapid refund
$100 for simple return + Instant Refund
**complex returns would be decided on a case by case basis**
College Students flat rate of $40 (RF)

You can also make appointments for us to come to where you are (whether its at home or on your lunch break)...I am thinking about charging an extra $5 for this service
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I`ve been doing my family & friends taxes since I was 16. Instead of attending summer classes; I went and got my tax prep certification from National Tax School (I am thinking about attending H&R Block also just in case I missed something)

I already have my PTIN
I also have the bank I am going to work through (approved)
I know which software I am going to use

Basically everything is in order; I just want to know do you think this could work?

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Last year I was able complete simple returns within 30 minutes....
I am thinking that maybe I should charge more than $5 to meet at your home or another location.
I am not planning on this being my only source of income. I realize this is mainly a 3 month business. I am currently a college student so with it only being 3 months is completely fine with me
mmdona

posts: 58

Jul 20, 2009 12:17 PM ET    Quote  Report Abuse
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I absolutely think this model can work. There are a number of other business types that have successfully gone "mobile," and people are not as hesitant to bring someone into their home for a service. You will want to emphasize your references/recommendations in your marketing materials, to increase that trust factor.
You should check with your insurance agent to see what type of policy you will need for your business. Also, think about an "emergency" plan -- make sure someone knows who you are meeting, where, and when you should be done, for the one in a million chance that you run into trouble at an appointment.
 
Good Luck!
Molly Donaldson
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