What exactly would it take to open up an Income Tax preparer business?
917887
#1 = a team\n#2 = a good idea, for example a license, a franchise, a special location, a CPA designation\n#3 = start up capital, ie a loan, savings\n\nYou'll need these three to find the most important thing = CUSTOMERS!!!\n\nYou can succeed with a great team and so so idea, but with a great idea and marginal team, you might end up as one of 99 out of 100 business that fail by year 10...
744985
There are so many things you have to consider: location, rent, employees, taxes, permits, filing of business papers, utilities, store fixtures, accountant and/or employee payroll system, suppliers, bank account, loans, insurance, possibly an attorney, knowledge of state labor laws, payment of state unemployment/disability for employees, computer system for ordering, a plan for shipments, etc.  I think you should talk to a business owner in person to ask questions, if possible.  If not, go to www.sba.gov - they have a Small Business Startup Guide.  This should be a good starting point.
1168492
For federal, you'll need a schedule C (or C-EZ) where you'll list your business income and expenses.  Will probably also need Schedule SE to calculate self-employment taxes (covers social security and medicare taxes).  Numbers from these schedules go on your 1040.\n\nFor state, each state is different.\n\nGetting an accountant, especially for at least the first year so you can see how it's done, would be a real good idea.
454317
There are a lot of international laws that govern these things.  I would contact a bank that works internationally and an international business lawyer to help you get setup.\n\nGood luck with your venture
268570
I don't think it's possible to open 1 yourself :( \nYou need to make a company O_o first!
1079893
To get started, I suggest contacting the Small Business Administration (SBA) – links below. Entrepreneur also offers a great site dedicated to money & finance – see below.\n\nI listed a couple IRS links as well.\n\nHope that helps!
823539
Register your business with the concerned local governments to operate a business and get the necessary permits.  Then register your business with the Tax Office to avoid being charged with tax evasion.  That's it, you can now operate your business and reap profits.
767590
I would organize the business as an LLC to protect your family's assets.  Register with the state (check their site for details).  Apply for an EIN (Employer ID Number) also called a Tax ID number.  If you do it by phone it's faster than by mail or fax.  Find out if you need a local or county business license.  I only needed a dba (doing business as) form to be filed in my county (but I operate my business from my home).  Then, apply for a Sales Tax ID number as you'll have to file regularly, usually quarterly, and notify the state of your sales tax collected.\n\nTo get a local business checking account, you need all of those forms along with your Driver's License and at least one other form of ID.  Many banks offer free business checking for small businesses.\n\nGood luck.  It's a lot of work, but well worth it.
1103598
Well, first of all, if you want to start a "business," it better be a garage/yard sale.  It's not so easy.  You can't just go to the government and say, "I'm making a business, can you give me some land?"  NO!\nI hope I don't sound rude with this reply, but if you want to start a business, it will take a while and again, will not be easy.\nAs for the whole, "What should it be?"  You're the one to decide that.  If you want to make a sports shop, do that!  If you want to sell shoes, go for it!  Doing chores for average households, giving art lessons, whatever it is, go for it!
412703
yes. u need to have surity. also have a business plan...let it be realistic.i mean both in terms of time and resources. show the bank why is it worth investuing in your proposed business...when is that businees going to reach BEP and how r u going to do it...
916748
I work at setting up small businesses, and I need to let you know that what your listed (inventory, wholesales, etc) are not the things you need to do first. \n\nFirst, you need to come up with a business name and open up a business entity. This will tell the government that you're opening a business, make you legal, guarantee that no one else can have your name, and give you an EIN/tax number. \n\nOnce you've done that, go open a bank account under the name of your business. Once of the biggest mistakes small business owners do is to use their personal money to start the business. Open the bank account, get a business credit card, and a business loan. (You will probably need a business plan to qualify for the loan.) \n\nOnce that is all done, find out the specifics of where you'll get your supplies from.
721428
Mr. P. Chidambaram introduced a new scheme u/s 139(B) as “Tax return prepare” by Finance Act 2006. This scheme will be framed by CBDT. Central Board of Direct Tax will is only authorised body to decide the manner in which and the period for which the tax return preparers shall be authorised, educational and other qualifications, the training and other conditions required to be fulfilled by a person to act as a tax return preparer, the duties and obligations, the code of conduct, the circumstances under which the authorisation given to a tax return preparer may be withdrawn. All other matter will also decided by CBDT which is required to be, or may be, specified by the scheme for the purposes of this section \nPlan for the Scheme\nThis scheme will be operationalised from 1 July 2006  and will cover most categories of taxpayers barring corporate houses and cases under litigation. It is recommended that tax preparers could charge a fixed fee of Rs. 250 from tax-payers for each return filed by them. In the first Three years, the tax preparers would be reimbursed a percentage of the tax collected. The percentage of the tax collected was pegged at 5% for the first year, 2.5% for the second year and 1.5% for the third year. A “Resource Centre” will also setup in Delhi as a separate directorate, headed by director of income-tax, which could act as nodal agency for the scheme as well as   a internal committee has also been working on this scheme which is headed by B.P sah, Chief Commissioner, Income tax. This scheme will initially be pilot-tested in 4 towns of different sizes representing four zones-Delhi, Asanso, Coimbatore and pune.  Around 25 candidates will be randomly selected from law and commerce colleges in these cities for training under the pilot project
431512
I suppose the business plan would have the following items:\naims of the business,\nfinancing of the business,\nstaffing of the business,\nlegal requirements like planning permission, consent from the necessary authorities,\nHealth and safety Requirements.\nkey skills required,\ntraining of staff,\nday to day activities.
765077
Your education and experience will be scrutinized for financing,  permits and certification.  The credentials of the staff you put together can offset what you are lacking.  You should start with writing a comprehensive business plan.
142532
That's a very difficult question. It would depend on alot of factors. Some of which are;\n\nWhat is your vision for your company?\nIs this work going to be your primary source of income?\nWhere are you located?
785159
Ok.  Got a car? Insurance, tax, petrol.  No car.  Ok Bus? bus fare.  How about the odd taxi ride.  How about things you might need for work? tools, paper, pens.\nIf you were a business of course you would need to think about business rates, buying stock and selling stock etc as well.  Try looking on the Inland Revenue site.  There might be some advice or lists on there somewhere.\nC ;)
299630
If I got you correctly you mean setting up a business center for other companies to rent?\n\nThis will depend mostly on :\n1) Your experience\n2) The area you will start it in.\n3) The economics of the city and country you plan to start it.\n\n4)Your correct understanding of how to market your new business center.