Sample income tax business plan

It is owned and managed by James Washington in Houston, Texas. The company offers tax preparation and e-filing services from January to April for federal and state tax returns. It offers these services to individuals, families, small businesses and home-based businesses.

Sample income tax business plan

sample income tax business plan

Strategic Analysis with current research! The Tax Preparation Company, Inc. The Company was founded in by John Doe. During the primary tax season January to Aprilthe business will assist small business owners with preparing their yearly tax returns. The business will also provide bookkeeping services so that the Company can generate a stable stream of revenue on a monthly basis.

These services will primarily consist of accounts receivable, accounts payable, general ledger management, and cash flow management in conjunction with accounting software suites such as QuickBooks, Microsoft Money, and Peachtree Accounting The third section of the business plan will further describe the services offered by the Tax Preparation Company.

The interest rate and loan agreement are to be further discussed during negotiation. Doe has more than 10 years of experience in the accounting industry. Through his expertise, he will be able to bring the operations of the business to profitability within its first year of operations.

Doe expects a strong rate of growth at the start of operations.

A Sample Tax Preparation Service Business Plan Template

Below are the expected financials over the next three years. The Company is registered as a corporation in the State of New York. Below is a breakdown of how these funds will be used: Doe is not seeking an investment from a third party at this time.

Doe may seek to sell the business to a third party for a significant earnings multiple. Most likely, the Company will hire a qualified business broker to sell the business on behalf of the Tax Preparation Company.

Based on historical numbers, the business could fetch a sales premium of up to 4 times earnings. The Tax Preparation Company will bill its clients on a per hour basis. Pricing for these services will be further discussed in the fifth section of the business plan.

Currently, the economic market condition in the United States is in recession. This slowdown in the economy has also greatly impacted real estate sales, which has halted to historical lows. Many economists expect that this recession will continue until mid, at which point the economy will begin a prolonged recovery period.

There are overaccountants, tax preparers, and bookkeepers in the United States. One of the most common trends within the accounting industry is to develop ancillary investment management and small lending services such as mortgage origination and loan rebate checks.

In the future, the Tax Preparation Company may develop these services to greatly increase the revenues of the business. In this section, you can also put demographic information about your target market including population size, income demographics, level of education, etc.

The key to writing a strong competitive analysis is that you do your research on the local competition. Find out who your competitors are by searching online directories and searching in your local Yellow Pages.

Below is an overview of the marketing strategies and objectives of the Tax Preparation Company. These strategies include traditional print advertisements and ads placed on search engines on the Internet.

Below is a description of how the business intends to market its services to the general public.Do you have excellent accounting skills? Do you understand how tax works? Are you interested in starting a tax preparation business from home? Do you need a sample tax preparation business plan template?If you answered YES to any of the questions above, then I advice you read on.

How to write the financial plan section of the business plan: the income statement, cash flow projections, and the balance sheet (templates included). Income Tax Payable Business Plan Tips: A Sample Industry Overview to Help You Write Yours.

Our Best Money Tips, Delivered. A Sample Tax Preparation Service Business Plan Template Business Overview The financial services industry is indeed a very broad industry and one of the active lines of businesses in the industry is tax preparation services business.

A Sample Tax Preparation Service Business Plan Template Business Overview The financial services industry is indeed a very broad industry and one of the active lines of businesses in the industry is tax preparation services business.

Free Tax Preparation Company Business Plan For Raising Capital from Investors, Banks, or Grant Companies! Please note that the financials in this complete free business plan are completely fictitious and may not match the text of the business plan below.

A tax preparation business only booms in the beginning of the year when people pay their taxes; January-April. After this period, there is really nothing left to do if you are solely into Tax preparation business. - Free Tax Preparation Company Business Plan