tax office business plan

Tax Business Plan Template: Everything You Need to Know

Its a strategy for all aspects of your business. It is a necessity for those looking to start a tax preparation or tax consulting business. 3 min read updated on February 01, 2023

A tax business plan template is a strategy for all aspects of your business. It is a necessity for those looking to start a tax preparation or tax consulting business. A tax preparation business assists individuals and small businesses to prepare and file their taxes correctly and accurately. There are several advantages to choosing a tax preparation business:

• There is little initial investment compared to most other businesses. A tax preparation business can even be started with $500 or less.
• Tax preparation is a flexible business that can be done on a part-time basis and allows for the flexibility to work around family and other obligations. This is a great business venture for stay-at-home parents.
• Tax preparation and consultation services are in demand by small businesses that don't have a full-time accountant. These businesses are able to pay for your expertise only when they need it the most.
• As a tax consultant, earnings can be $100-$200 per month, depending on your expertise.

The first step in determining if a tax business is the right choice for you is to complete research to determine the feasibility. Research is a way to learn important things about the business that will be helpful in your success. This will help you determine if this is the right business for you, and what type of business you should create.

This information gathering will assist you in preparing a tax business plan template. A tax preparation business service plan can include several different parts consisting of a business overview, strategy, marketing, accounting, services, and all aspects of the business. Before you start your business, make sure you consider how to form a solid business plan.

Sample Tax Preparation Service Business Plan

Business overview/products and services/mission statement.

• The company is a financial consulting firm specializing in tax preparation of all types- income tax compilation and returns, tax preparation, financial services, and standard, basic and full-service income tax preparation.
• The employees will be professionals in the financial consulting services industry whose ethics and values align with those of the company.
• The company and employees will be held accountable to meet their clients' needs and will create a working environment focused on sustainable living and community involvement.
• The brand goal is to become the top tax preparation service in the city and among the top tax preparation businesses in the United States within 20 years.
• The tax consulting firm will offer many services within the scope of tax preparation services, tax consulting, and tax-related financial products. The primary clients will be individuals, start of corporations, and established corporations looking to outsource tax preparation.

SWOT Analysis/ Market Analysis/Accounting Plan

• Strength- Our strength lies in our employees who are professional, well-trained, and do what it takes to ensure that our clients get a great value.
• Weakness- As a new company, it will take time to gain respect and acceptance in the community. We also do not yet have the cash flow for expensive marketing efforts.
• Opportunities- There are many opportunities for a tax preparation services company in the community. Individuals and companies both large and small need to use tax preparation services to ensure they are reporting accurately and to save them money.
• Threats- Other similar financial services firms in the area will cause a threat, as well as the existence of certain government policies regarding taxes. Neither of these threats can be reduced or eliminated.
• Financial services and tax preparation is a large industry with the potential to serve many individuals and businesses in need of these services.
• Many small businesses and mom and pop shops don't have the financial capacity to hire a full-time accountant but find it cost effective and less stressful to use tax preparation services and financial consulting services to ensure that everything is handled correctly.
• The target market is anyone who needs tax preparation services and is not restricted to any particular demographic groups. This also includes businesses of any size.
• Competitive advantage- the competitive advantage depends on the location of the business and if it is possible to create a unique angle in which to market your business in that locale, such as offering related services

It is possible to start a successful tax preparation business in just a few days with appropriate research and resources. Training is important, and a degree in an accounting or financial field will put you at an advantage. Make sure to complete state requirements, such as registering your new business.

For more information on tax business plan templates or legal requirements, you can post your legal need on UpCounsel's marketplace. UpCounsel accepts only the top 5 percent of lawyers to its site. Lawyers on UpCounsel come from law schools such as Harvard Law and Yale Law and average 14 years of legal experience, including work with or on behalf of companies like Google, Menlo Ventures, and Airbnb.

Hire the top business lawyers and save up to 60% on legal fees

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Tax Preparation Business Plan

Tax preparation is a recession-proof business. No matter what happens to the economy, this business never goes off-trend. So starting a tax preparation business is an excellent choice.

Starting a business from scratch and standing up against big industry giants may feel overwhelming, but a detailed business plan can help you succeed.

Need help writing a business plan for your tax preparation business? You’re at the right place. Our tax preparation business plan template will help you get started.

Free Business Plan Template

Download our Free Business Plan Template now and pave the way to success. Let’s turn your vision into an actionable strategy!

• Fill in the blanks – Outline
• Financial Tables

How to Write a Tax Preparation Business Plan?

Writing a tax preparation business plan is a crucial step toward the success of your business. Here are the key steps to consider when writing a business plan:

1. Executive Summary

An executive summary is the first section planned to offer an overview of the entire business plan. However, it is written after the entire business plan is ready and summarizes each section of your plan.

Here are a few key components to include in your executive summary:

Introduce your business:

• This section may include the name of your tax preparation business, its location, when it was founded, the type of tax preparation business (E.g., franchise tax preparation services, enrolled agent firms, tax law firms.), etc.

Market opportunity:

Tax preparation services:.

• For instance, your services may include tax preparation, accounting, tax resolution and representation, tax planning, and tax consulting.

Marketing & sales strategies:

Financial highlights:, call to action:.

Ensure your executive summary is clear, concise, easy to understand, and jargon-free.

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2. Business Overview

The business overview section of your business plan offers detailed information about your company. The details you add will depend on how important they are to your business. Yet, business name, location, business history, and future goals are some of the foundational elements you must consider adding to this section:

Business description:

• Franchise tax preparation services
• Independent tax preparation services
• Online tax preparation services
• Enrolled Agent (EA) firms
• Tax law firms
• Certified Public Accountant (CPA) firms
• Describe the legal structure of your tax preparation company, whether it is a sole proprietorship, LLC, partnership, or others.
• Explain where your business is located and why you selected the place.

Mission statement:

Business history:.

• Additionally, If you have received any awards or recognition for excellent work, describe them.

Future goal:

This section should provide a thorough understanding of your business, its history, and its future plans. Keep this section engaging, precise, and to the point.

3. Market Analysis

The market analysis section of your business plan should offer a thorough understanding of the industry with the target market, competitors, and growth opportunities. You should include the following components in this section.

Target market:

• For example, if you are an independent tax preparation service provider, you might target busy individuals, self-employed professionals, retirees, new immigrants, and people with low and moderate incomes.

Market size and growth potential:

Competitive analysis:, market trends:.

• For instance, the COVID-19 pandemic has accelerated the trend toward remote and hybrid work in the tax preparation industry, so you may need to explain how you plan to handle your remote team.

Regulatory environment:

Here are a few tips for writing the market analysis section of your tax consultant business plan:

• Conduct market research, industry reports, and surveys to gather data.
• Provide specific and detailed information whenever possible.
• Illustrate your points with charts and graphs.
• Write your business plan keeping your target audience in mind.

4. Products And Services

The product and services section should describe the specific services and products that will be offered to customers. To write this section should include the following:

Describe the tax preparation services your business will offer. This list may include services like,

• Preparation of federal, state, and local tax returns
• Review of tax documents
• Electronic filing
• Tax planning
• Audit assistance
• Tax resolution services

Describe each service:

• Tax resolution processes, for instance, include consultation, investigation, strategy development, negotiation, resolution, and ongoing compliance.

Quality measures:

• This may include,
• Regular training and education for staff
• Thorough review and quality control processes to ensure accuracy
• Compliance with all relevant laws and regulations governing tax preparation services, etc.

Additional services:

In short, this section of your tax preparation plan must be informative, precise, and client-focused. By providing a clear and compelling description of your offerings, you can help potential investors and readers understand the value of your business.

5. Sales And Marketing Strategies

Writing the sales and marketing strategies section means a list of strategies you will use to attract and retain your clients. Here are some key elements to include in your sales & marketing plan:

Unique selling proposition (USP):

• For example, personal attention, year-round services, niche specialization, and commitment to excellence could be some of the great USPs for a professional tax preparation company.

Pricing strategy:

Marketing strategies:, sales strategies:, customer retention:.

Overall, this section of your tax preparation business plan should focus on customer acquisition and retention.

Have a specific, realistic, and data-driven approach while planning sales and marketing strategies for your tax preparation business, and be prepared to adapt or make strategic changes in your strategies based on feedback and results.

6. Operations Plan

The operations plan section of your business plan should outline the processes and procedures involved in your business operations, such as staffing requirements and operational processes. Here are a few components to add to your operations plan:

Staffing & training:

Operational process:, esoftware & technology:.

• Explain how these software and technologies help you maintain quality standards and improve the efficiency of your business operations.

Adding these components to your operations plan will help you lay out your business operations, which will eventually help you manage your business effectively.

7. Management Team

The management team section provides an overview of your tax preparation business’s management team. This section should provide a detailed description of each manager’s experience and qualifications, as well as their responsibilities and roles.

Founder/CEO:

Key managers:.

• It should include key executives, senior management, and other department managers (e.g., Tax manager, Accounting manager.) involved in the business operations, including their education, professional background, and any relevant experience in the taxation industry.

Organizational structure:

Compensation plan:, advisors/consultants:.

• So, if you have any advisors or consultants, include them with their names and brief information consisting of roles and years of experience.

This section should describe the key personnel for your tax preparation services, highlighting how you have the perfect team to succeed.

8. Financial Plan

Your financial plan section should provide a summary of your business’s financial projections for the first few years. Here are some key elements to include in your financial plan:

Profit & loss statement:

Cash flow statement:, balance sheet:, break-even point:.

• This exercise will help you understand how much revenue you need to generate to sustain or be profitable.

Financing needs:

Be realistic with your financial projections, and make sure you offer relevant information and evidence to support your estimates.

9. Appendix

The appendix section of your plan should include any additional information supporting your business plan’s main content, such as market research, legal documentation, financial statements, and other relevant information.

• Add a table of contents for the appendix section to help readers easily find specific information or sections.
• In addition to your financial statements, provide additional financial documents like tax returns, a list of assets within the business, credit history, and more. These statements must be the latest and offer financial projections for at least the first three or five years of business operations.
• Provide data derived from market research, including stats about the taxation industry, user demographics, and industry trends.
• Include any legal documents such as permits, licenses, and contracts.
• Include any additional documentation related to your business plan, such as product brochures, marketing materials, operational procedures, etc.

Use clear headings and labels for each section of the appendix so that readers can easily find the necessary information.

Remember, the appendix section of your tax preparation company business plan should only include relevant and important information supporting your plan’s main content.

The Quickest Way to turn a Business Idea into a Business Plan

Fill-in-the-blanks and automatic financials make it easy.

This sample tax preparation business plan will provide an idea for writing a successful tax preparation plan, including all the essential components of your business.

After this, if you still need clarification about writing an investment-ready business plan to impress your audience, download our tax preparation business plan pdf .

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Frequently asked questions, why do you need a tax preparation business plan.

A business plan is an essential tool for anyone looking to start or run a successful tax preparation business. It helps to get clarity in your business, secures funding, and identifies potential challenges while starting and growing your business.

Overall, a well-written plan can help you make informed decisions, which can contribute to the long-term success of your tax preparation company.

How to get funding for your tax preparation business?

There are several ways to get funding for your tax preparation business, but self-funding is one of the most efficient and speedy funding options. Other options for funding are:

Small Business Administration (SBA) loan

Crowdfunding, angel investors.

Apart from all these options, there are small business grants available, check for the same in your location and you can apply for it.

Where to find business plan writers for your tax preparation business?

There are many business plan writers available, but no one knows your business and ideas better than you, so we recommend you write your tax preparation business plan and outline your vision as you have in your mind.

What is the easiest way to write your tax preparation business plan?

A lot of research is necessary for writing a business plan, but you can write your plan most efficiently with the help of any tax preparation business plan example and edit it as per your need. You can also quickly finish your plan in just a few hours or less with the help of our business plan software.

About the Author

Vinay Kevadiya

Vinay Kevadiya is the founder and CEO of Upmetrics, the #1 business planning software. His ultimate goal with Upmetrics is to revolutionize how entrepreneurs create, manage, and execute their business plans. He enjoys sharing his insights on business planning and other relevant topics through his articles and blog posts. Read more

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Tax Preparation Business Plan Template

Written by Dave Lavinsky

Tax Preparation Business Plan

You’ve come to the right place to create your Tax Preparation business plan.

We have helped over 1,000 entrepreneurs and business owners create business plans and many have used them to start or grow their Tax Preparation businesses.

Below is a template to help you create each section of your Tax Preparation business plan.

Executive Summary

Business overview.

Denver Tax Services, Inc. is a new tax preparation company located in downtown Denver, Colorado. We help businesses and residents prepare their taxes and are trained to provide guidance and help for a variety of tax situations. We offer the best customer service in the industry and have a guarantee of accuracy or your money back. Clients who work with us will feel supported during every step of the tax prep and filing process.

Denver Tax Services, Inc. is run by Robert Schwartz. Robert is a certified tax professional and has decades of tax preparation experience under his belt. He has worked for several other firms (including H&R Block) and has provided his services to thousands of clients. His experience and professionalism has gained him a loyal clientbase. The combination of Robert’s expertise, experience, and clientbase will ensure that Denver Tax Services, Inc. is a success.

Product Offering

Denver Tax Services, Inc. provides guidance and support through every step of the tax preparation process. We help individuals and businesses get the maximum refund possible and file their taxes on their behalf. In addition to our tax preparation services, we also provide tax planning, business consulting, estate and trust tax preparation, audit support, and IRS representation services.

Customer Focus

Denver Tax Services, Inc. will help individuals and businesses located within 20 miles of the Denver area. We expect that most of the businesses that utilize our services will be small businesses that have less than 1,000 employees and earn less than $10 million in revenue per year. Most individuals who seek out our services will be middle class or affluent in order to have the disposable income to pay for our services.

Management Team

Denver Tax Services, Inc.’s most valuable asset is the expertise and experience of its founder, Robert Schwartz. Robert has been a certified tax professional for the past 20 years. Throughout his career, he has developed a loyal client base, with many clients having stated that they will switch to Denver Tax Services, Inc. once the company is established and running. Robert’s combination of skills, tax knowledge, and loyal following will ensure that Denver Tax Services, Inc. is a successful firm.

Success Factors

Denver Tax Services, Inc. will be able to achieve success by offering the following competitive advantages:

• Robert Schwartz already has a clientbase from his twenty years of experience working with other tax firms. This clientbase will help the company grow with their repeat business and by referring their friends and loved ones to our services.
• The company will emphasize providing client-focused service so that our clients feel valued.
• The company will provide our tax preparation services at a more affordable rate than the competition.

Financial Highlights

Denver Tax Services, Inc. is currently seeking $400,000 to launch. The funding will be dedicated to the office build out, purchase of initial equipment, working capital, marketing costs, and startup overhead expenses. The breakout of the funding is below:

• Office design/build: $100,000
• Office equipment, supplies, and materials: $50,000
• Three months of overhead expenses (payroll, rent, utilities): $150,000
• Marketing costs: $50,000
• Working capital: $50,000

The following graph below outlines the pro forma financial projections for Denver Tax Services, Inc.

Company Overview

Who is denver tax services, inc..

Denver Tax Services, Inc. helps the businesses and residents of Denver, Colorado with tax preparation and filing. We thoroughly analyze our clients’ tax situations to minimize their taxes and get them the biggest refund possible. We offer a guarantee of accuracy and will refund the fee for our services if our clients are not satisfied.

  In addition to helping our clients with tax preparation and filing, we also provide a suite of other tax services, including tax planning, audit support, and IRS representation. We don’t want to just help our clients out during tax time. We want to support our clients throughout the year so they don’t get any surprises come April 15th.

Denver Tax Services, Inc. is run by Robert Schwartz. Robert has decades of tax prep experience and has gained a loyal clientbase from providing his services through competing firms. After working for several tax prep firms around town, he surveyed his clientbase to see if they would be willing to switch to his new company once launched. Most of his clients responded positively, which motivated Robert to finally launch his business.

Denver Tax Services, Inc.’s History

Upon surveying his clientbase and finding a potential office, Robert Schwartz incorporated Denver Tax Services, Inc. as an S-Corporation in July 2023.

The business is currently being run out of Robert’s home office, but once the lease on Denver Tax Services, Inc.’s office location is finalized, all operations will be run from there.

Since incorporation, Denver Tax Services, Inc. has achieved the following milestones:

• Found an office space and signed Letter of Intent to lease it
• Developed the company’s name, logo, and website
• Hired an interior designer for the decor and furniture layout
• Determined equipment and fixture requirements
• Began recruiting key employees

Denver Tax Services, Inc.’s Services

Denver Tax Services, Inc.’s mission is to maximize the tax refunds of all of our clients. To do this, we help our clients through every step of the tax return process and analyze every situation to make sure each client is getting as many deductions as possible. We help our clients minimize their taxes as much as possible during tax time and provide guidance on how to minimize taxes for the following year.

In addition to tax preparation and filing, we also provide the following services:

• Tax planning
• Business consulting
• Estate and trust tax preparation
• Audit support
• IRS representation

Industry Analysis

Taxes are one of the few certainties in life. However, tax time can be one of the most confusing and stressful times of the year for Americans. As such, many Americans seek out tax preparation software or tax professionals to help them with their tax returns every year. Due to tax law becoming increasingly complicated, the tax preparation industry has become an essential industry for the American economy. As such, the industry is expected to thrive for the foreseeable future.

The tax preparation industry helps citizens and businesses make sense of their tax returns to minimize their taxes and maximize their deductions. These professionals go through every applicable tax form and ask about every possible situation to ensure that customers are getting the biggest refund possible. In addition to tax preparation and filing, these companies also provide a full suite of other tax services, such as planning, consultation, and audit support.

According to IBIS World, the tax preparation industry has been growing steadily at a CAGR of 4.3% for the past several years. The demand for these services only continues to grow as tax law becomes more complicated. Therefore, this growth is expected to continue, meaning that Denver Tax Services, Inc. can expect to be successful in the following years.

Customer Analysis

Demographic profile of target market, customer segmentation.

Denver Tax Services, Inc. will primarily target the following customer profiles:

• Small and medium-sized businesses
• Middle class residents and families
• Affluent residents and families

Competitive Analysis

Direct and indirect competitors.

Denver Tax Services, Inc. will face competition from other companies with similar business profiles. A description of each competitor company is below.

H&R Block

H&R Block has been a king in the tax prep industry for several decades. With thousands of locations around the country and thousands of professionals available online, customers of H&R Block can get the tax prep and guidance they need with ease. H&R Block offers software and online tax prep services but also has in person services for those who would rather work with a professional. H&R Block has several offices in the Denver area, so we expect them to be a major competitor.

TurboTax is the most popular tax preparation service in the market. TurboTax provides easy- to-use software so the average American can file their taxes with ease. For those that have more complicated tax situations, TurboTax also offers consultations with tax professionals for an additional fee. Whether customers are doing their taxes on their own or with a professional, TurboTax provides all the support they need to make tax filing a smooth process.

Though TurboTax will continue to be popular, the company’s reputation has tarnished in recent years. The company has been sued several times for misleading their customers and lying about their pricing. These practices have made TurboTax untrustworthy. As such, many former customers of TurboTax will be eager to get the help of a local and reputable tax professional such as those that work for Denver Tax Services, Inc.

Jackson Hewitt

Jackson Hewitt is another major competitor that has prepared and filed millions of tax returns during their 40 year tenure. Like H&R Block, they offer both online and in person tax services to create the most convenient experience possible for their clients. They are well regarded for their refund guarantee as well as their professionalism and customer service. As such, they will be another major competitor for Denver Tax Services, Inc.

Competitive Advantage

Denver Tax Services, Inc. will be able to offer the following advantages over the competition:

• Client-oriented service : Denver Tax Services, Inc. will put a focus on customer service and maintaining long-term relationships. We aim to be the best tax preparation firm in the area by catering to our customer’s needs and developing a strong connection with them.
• Management : Robert has been extremely successful working in the tax preparation sector and will be able to use his previous experience to help his clients better than the competition.
• Competitive pricing : Denver Tax Services Inc.’s pricing is more affordable than our competitors.
• Relationships : Having lived in the community for 20 years, Robert Schwartz knows many of the local leaders, newspapers and other influencers. As such, it will be relatively easy to build a large clientbase over the next several years.

Marketing Plan

Brand & value proposition.

Denver Tax Services, Inc. will offer a unique value proposition to its clientele:

• Client-focused tax prep services, where the company’s interests are aligned with the customer
• Service built on long-term relationships
• Big-firm expertise in a small-firm environment

Promotions Strategy

The promotions strategy for Denver Tax Services, Inc. is as follows:

Targeted Cold Calls

Denver Tax Services, Inc. will initially invest significant time and energy into contacting potential clients via telephone. In order to improve the effectiveness of this phase of the marketing strategy, a highly-focused call list will be used, targeting individuals in areas and occupations that are most likely to need tax prep services. As this is a very time-consuming process, it will primarily be used during the startup phase to build an initial client base.

Denver Tax Services, Inc. understands that the best promotion comes from satisfied customers. The company will encourage its clients to refer other businesses and individuals by providing economic or financial incentives for every new client produced. This strategy will increase in effectiveness after the business has already been established.

Social Media

Denver Tax Services, Inc. will invest heavily in a social media advertising campaign. The company will create social media accounts and invest in ads on all social media platforms. It will use targeted marketing to appeal to the target demographics.

Website/SEO

Denver Tax Services, Inc. will invest heavily in developing a professional website that displays all of the company’s services. It will also invest heavily in SEO so that the firm’s website will appear at the top of search engine results.

Denver Tax Services, Inc.’s fees will be moderate and competitive so clients feel they are receiving great value when utilizing our tax prep services.

Operations Plan

The following will be the operations plan for Denver Tax Services, Inc. Operation Functions:

• Robert Schwartz will be the Owner of Denver Tax Services, Inc.. In addition to providing tax prep services, he will also manage the general operations of the business.
• Robert Schwartz is joined by a full-time administrative assistant, Rebecca Hackett, who will take charge of the administrative tasks for the company. She will also be available to answer client questions and will be the primary employee in charge of client communications.
• As the company builds its client base, Robert will hire more tax professionals to provide the company’s services, attract more clients, and grow our business further.

Milestones:

Denver Tax Services, Inc. will have the following milestones completed in the next six months.

• 9/2023 Finalize lease agreement
• 10/2023 Design and build out Denver Tax Services, Inc.
• 11/2023 Hire and train initial staff
• 12/2023 Kickoff of promotional campaign
• 1/2024 Launch Denver Tax Services, Inc.
• 2/2024 Reach break-even

Denver Tax Services, Inc.’s most valuable asset is the expertise and experience of its founder, Robert Schwartz. Robert has been a certified tax professional for the past 20 years and gained his experience and clientbase by working for competing firms. After years of working with large firms (such as H&R Block), Robert decided he wanted to run his own tax prep firm where he can provide quality services in a small firm environment. He surveyed his clientbase and found that many clients would be willing to transition to his business once established. Robert’s combination of skills, tax knowledge, and loyal clientbase will ensure that Denver Tax Services, Inc. is a successful firm.

Though he has never run his own business, Robert Schwartz has worked as a tax professional long enough to gain an in-depth knowledge of the operations (e.g., running day-to-day operations) and the business (e.g., staffing, marketing, etc.) sides of the industry. He also already has a starting client base that he served while working for other tax prep firms. He will hire several other employees who can help him run the aspects of the business that he is unfamiliar with.

Financial Plan

Key revenue & costs.

Denver Tax Services, Inc.’s revenues will primarily come from charging clients for the tax preparation services we provide. We will charge our clients an hourly rate that will vary depending on the type of tax return they are filing. Clients who owe money on their tax return will be charged directly for our services. Clients who are expecting a refund have the option to either pay us directly or let us take the fee from their refund.

The notable cost drivers for the company will include labor expenses, overhead, and marketing expenses.

Funding Requirements and Use of Funds

Key assumptions.

The following outlines the key assumptions required in order to achieve the revenue and cost numbers in the financials and pay off the startup business loan.

• Number of clients per year:
• Year 4: 100
• Year 5: 140
• Annual Rent: $100,000

Financial Projections

Income statement, balance sheet, cash flow statement, tax preparation business plan faqs, what is a tax preparation business plan.

A tax preparation business plan is a plan to start and/or grow your tax preparation business. Among other things, it outlines your business concept, identifies your target customers, presents your marketing plan and details your financial projections.

You can easily complete your Tax Preparation business plan using our Tax Preparation Business Plan Template here .

What are the Main Types of Tax Preparation Businesses? 

There are a number of different kinds of tax preparation businesses , some examples include: Certified Public Accountant (CPA), Tax Attorney, and Enrolled Agent (EA).

How Do You Get Funding for Your Tax Preparation Business Plan?

Tax Preparation businesses are often funded through small business loans. Personal savings, credit card financing and angel investors are also popular forms of funding.

What are the Steps To Start a Tax Preparation Business?

Starting a tax preparation business can be an exciting endeavor. Having a clear roadmap of the steps to start a business will help you stay focused on your goals and get started faster.

1. Develop A Tax Preparation Business Plan - The first step in starting a business is to create a detailed tax preparation business plan that outlines all aspects of the venture. This should include potential market size and target customers, the services or products you will offer, pricing strategies and a detailed financial forecast. 

2. Choose Your Legal Structure - It's important to select an appropriate legal entity for your tax preparation business. This could be a limited liability company (LLC), corporation, partnership, or sole proprietorship. Each type has its own benefits and drawbacks so it’s important to do research and choose wisely so that your tax preparation business is in compliance with local laws.

3. Register Your Tax Preparation Business - Once you have chosen a legal structure, the next step is to register your tax preparation business with the government or state where you’re operating from. This includes obtaining licenses and permits as required by federal, state, and local laws.

4. Identify Financing Options - It’s likely that you’ll need some capital to start your tax preparation business, so take some time to identify what financing options are available such as bank loans, investor funding, grants, or crowdfunding platforms.

5. Choose a Location - Whether you plan on operating out of a physical location or not, you should always have an idea of where you’ll be based should it become necessary in the future as well as what kind of space would be suitable for your operations.

6. Hire Employees - There are several ways to find qualified employees including job boards like LinkedIn or Indeed as well as hiring agencies if needed – depending on what type of employees you need it might also be more effective to reach out directly through networking events.

7. Acquire Necessary Tax Preparation Equipment & Supplies - In order to start your tax preparation business, you'll need to purchase all of the necessary equipment and supplies to run a successful operation.

8. Market & Promote Your Business - Once you have all the necessary pieces in place, it’s time to start promoting and marketing your tax preparation business. This includes creating a website, utilizing social media platforms like Facebook or Twitter, and having an effective Search Engine Optimization (SEO) strategy. You should also consider traditional marketing techniques such as radio or print advertising. 

Tax Preparation Business Plan Template & Guidebook

Starting a tax preparation business requires extensive planning and research to ensure success. The #1 Tax Preparation Business Plan Template & Guidebook provides a comprehensive resource for any aspiring business owner looking to make their vision a reality. This guidebook offers actionable advice and tips for developing an effective business plan, as well as templates and resources to help you understand and organize the various components. With this comprehensive guide, you can develop a clear strategy for launching the tax preparation business of your dreams.

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• How to Start a Profitable Tax Preparation Business [11 Steps]
• 25 Catchy Tax Preparation Business Names:

How to Write a Tax Preparation Business Plan in 7 Steps:

1. describe the purpose of your tax preparation business..

The first step to writing your business plan is to describe the purpose of your tax preparation business. This includes describing why you are starting this type of business, and what problems it will solve for customers. This is a quick way to get your mind thinking about the customers’ problems. It also helps you identify what makes your business different from others in its industry.

It also helps to include a vision statement so that readers can understand what type of company you want to build.

Here is an example of a purpose mission statement for a tax preparation business:

Our mission at XYZ Tax Preparation is to provide the highest quality, individualized tax services to our clients in an efficient, ethical, and cost-effective manner. We strive to create meaningful relationships with our clients and ensure that their individual tax needs are met by providing unparalleled customer service. We are committed to being a top provider of tax services in our community and providing accurate and reliable information to ensure compliance with IRS regulations.

2. Products & Services Offered by Your Tax Preparation Business.

The next step is to outline your products and services for your tax preparation business. 

When you think about the products and services that you offer, it's helpful to ask yourself the following questions:

• What is my business?
• What are the products and/or services that I offer?
• Why am I offering these particular products and/or services?
• How do I differentiate myself from competitors with similar offerings?
• How will I market my products and services?

You may want to do a comparison of your business plan against those of other competitors in the area, or even with online reviews. This way, you can find out what people like about them and what they don’t like, so that you can either improve upon their offerings or avoid doing so altogether.

3. Build a Creative Marketing Stratgey.

If you don't have a marketing plan for your tax preparation business, it's time to write one. Your marketing plan should be part of your business plan and be a roadmap to your goals. 

A good marketing plan for your tax preparation business includes the following elements:

Target market

• Who is your target market?
• What do these customers have in common?
• How many of them are there?
• How can you best reach them with your message or product?

Customer base 

• Who are your current customers? 
• Where did they come from (i.e., referrals)?
• How can their experience with your tax preparation business help make them repeat customers, consumers, visitors, subscribers, or advocates for other people in their network or industry who might also benefit from using this service, product, or brand?

Product or service description

• How does it work, what features does it have, and what are its benefits?
• Can anyone use this product or service regardless of age or gender?
• Can anyone visually see themselves using this product or service?
• How will they feel when they do so? If so, how long will the feeling last after purchasing (or trying) the product/service for the first time?

Competitive analysis

• Which companies are competing with yours today (and why)? 
• Which ones may enter into competition with yours tomorrow if they find out about it now through word-of-mouth advertising; social media networks; friends' recommendations; etc.)
• What specific advantages does each competitor offer over yours currently?

Marketing channels

• Which marketing channel do you intend to leverage to attract new customers?
• What is your estimated marketing budget needed?
• What is the projected cost to acquire a new customer?
• How many of your customers do you instead will return?

Form an LLC in your state!

4. Write Your Operational Plan.

Next, you'll need to build your operational plan. This section describes the type of business you'll be running, and includes the steps involved in your operations. 

In it, you should list:

• The equipment and facilities needed
• Who will be involved in the business (employees, contractors)
• Financial requirements for each step
• Milestones & KPIs
• Location of your business
• Zoning & permits required for the business

What equipment, supplies, or permits are needed to run a tax preparation business?

To run a Tax Preparation business, one will need the following equipment, supplies, and permits:

• Computer with a reliable internet connection
• Tax software
• Printer/scanner/copier
• Business license
• Filing cabinets or storage system for paperwork
• E-file provider authorization from the IRS

5. Management & Organization of Your Tax Preparation Business.

The second part of your tax preparation business plan is to develop a management and organization section.

This section will cover all of the following:

• How many employees you need in order to run your tax preparation business. This should include the roles they will play (for example, one person may be responsible for managing administrative duties while another might be in charge of customer service).
• The structure of your management team. The higher-ups like yourself should be able to delegate tasks through lower-level managers who are directly responsible for their given department (inventory and sales, etc.).
• How you’re going to make sure that everyone on board is doing their job well. You’ll want check-ins with employees regularly so they have time to ask questions or voice concerns if needed; this also gives you time to offer support where necessary while staying informed on how things are going within individual departments too!

6. Tax Preparation Business Startup Expenses & Captial Needed.

This section should be broken down by month and year. If you are still in the planning stage of your business, it may be helpful to estimate how much money will be needed each month until you reach profitability.

Typically, expenses for your business can be broken into a few basic categories:

Startup Costs

Startup costs are typically the first expenses you will incur when beginning an enterprise. These include legal fees, accounting expenses, and other costs associated with getting your business off the ground. The amount of money needed to start a tax preparation business varies based on many different variables, but below are a few different types of startup costs for a tax preparation business.

Running & Operating Costs

Running costs refer to ongoing expenses related directly with operating your business over time like electricity bills or salaries paid out each month. These types of expenses will vary greatly depending on multiple variables such as location, team size, utility costs, etc.

Marketing & Sales Expenses

You should include any costs associated with marketing and sales, such as advertising and promotions, website design or maintenance. Also, consider any additional expenses that may be incurred if you decide to launch a new product or service line. For example, if your tax preparation business has an existing website that needs an upgrade in order to sell more products or services, then this should be listed here.

7. Financial Plan & Projections

A financial plan is an important part of any business plan, as it outlines how the business will generate revenue and profit, and how it will use that profit to grow and sustain itself. To devise a financial plan for your tax preparation business, you will need to consider a number of factors, including your start-up costs, operating costs, projected revenue, and expenses. 

Here are some steps you can follow to devise a financial plan for your tax preparation business plan:

• Determine your start-up costs: This will include the cost of purchasing or leasing the space where you will operate your business, as well as the cost of buying or leasing any equipment or supplies that you need to start the business.
• Estimate your operating costs: Operating costs will include utilities, such as electricity, gas, and water, as well as labor costs for employees, if any, and the cost of purchasing any materials or supplies that you will need to run your business.
• Project your revenue: To project your revenue, you will need to consider the number of customers you expect to have and the average amount they will spend on each visit. You can use this information to estimate how much money you will make from selling your products or services.
• Estimate your expenses: In addition to your operating costs, you will need to consider other expenses, such as insurance, marketing, and maintenance. You will also need to set aside money for taxes and other fees.
• Create a budget: Once you have estimated your start-up costs, operating costs, revenue, and expenses, you can use this information to create a budget for your business. This will help you to see how much money you will need to start the business, and how much profit you can expect to make.
• Develop a plan for using your profit: Finally, you will need to decide how you will use your profit to grow and sustain your business. This might include investing in new equipment, expanding the business, or saving for a rainy day.

Frequently Asked Questions About Tax Preparation Business Plans:

Why do you need a business plan for a tax preparation business.

A business plan for a tax preparation business is an important document that outlines the goals and objectives of the business, describes how it will be organized and operated, evaluates potential risks and rewards, and provides estimates of expected costs, income and other financial information. It is an essential tool for getting financial backing from investors or lenders, as well as being a key factor in determining success. A comprehensive business plan also helps in understanding the current market conditions and setting realistic goals.

Who should you ask for help with your tax preparation business plan?

You should consult with an accountant or tax preparation professional to get help with your tax preparation business plan. This professional can provide you with valuable insight into the necessary steps to set up a successful business, such as document filing requirements, operational costs, and potential revenue. Additionally, depending on the scope of your business plan, you may also need to speak with a lawyer to ensure that you are compliant with all local, state and federal regulations.

Can you write a tax preparation business plan yourself?

Yes, it is possible to write a tax preparation business plan yourself. Writing a business plan can help you gain insights on how to start and run a successful tax preparation business. A comprehensive business plan should include details about the target market, services provided, competitive landscape, marketing strategy, financial projections, management team and more. Researching the industry and consulting with other professionals such as lawyers or accountants can help you develop an effective and comprehensive plan for your tax preparation business.

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I'm Nick, co-founder of newfoundr.com, dedicated to helping aspiring entrepreneurs succeed. As a small business owner with over five years of experience, I have garnered valuable knowledge and insights across a diverse range of industries. My passion for entrepreneurship drives me to share my expertise with aspiring entrepreneurs, empowering them to turn their business dreams into reality.

Through meticulous research and firsthand experience, I uncover the essential steps, software, tools, and costs associated with launching and maintaining a successful business. By demystifying the complexities of entrepreneurship, I provide the guidance and support needed for others to embark on their journey with confidence.

From assessing market viability and formulating business plans to selecting the right technology and navigating the financial landscape, I am dedicated to helping fellow entrepreneurs overcome challenges and unlock their full potential. As a steadfast advocate for small business success, my mission is to pave the way for a new generation of innovative and driven entrepreneurs who are ready to make their mark on the world.

Tax Preparation Business Plan Template [Updated 2024]

Tax Preparation Business Plan Template

If you want to start a Tax Preparation business or expand your current Tax business, you need a business plan.

The following Tax Preparation business plan template gives you the key elements to include in a winning Tax Service business plan.

You can download our Business Plan Template (including a full, customizable financial model) to your computer here.

Below are links to each of the key sections of a successful tax preparation service business plan. Once you create your plan, download it to PDF to show banks and investors.

Tax Preparation Business Plan Home I. Executive Summary II. Company Overview III. Industry Analysis IV. Customer Analysis V. Competitive Analysis VI. Marketing Plan VII. Operations Plan VIII. Management Team IX. Financial Plan

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How to Start a Tax Preparation Business

As the owner of a tax preparation business, you’ll have the responsibility of cutting through the fog of federal, state, and local tax preparation, filing returns, and often earning tax rebates for individuals and, perhaps, small businesses.

Learn how to start your own Tax Preparation Business and whether it is the right fit for you.

Ready to form your LLC? Check out the Top LLC Formation Services .

Start a tax preparation business by following these 10 steps:

• Plan your Tax Preparation Business
• Form your Tax Preparation Business into a Legal Entity
• Register your Tax Preparation Business for Taxes
• Open a Business Bank Account & Credit Card
• Set up Accounting for your Tax Preparation Business
• Get the Necessary Permits & Licenses for your Tax Preparation Business
• Get Tax Preparation Business Insurance
• Define your Tax Preparation Business Brand
• Create your Tax Preparation Business Website
• Set up your Business Phone System

We have put together this simple guide to starting your tax preparation business. These steps will ensure that your new business is well planned out, registered properly and legally compliant.

Exploring your options? Check out other small business ideas .

STEP 1: Plan your business

A clear plan is essential for success as an entrepreneur. It will help you map out the specifics of your business and discover some unknowns. A few important topics to consider are:

What will you name your business?

• What are the startup and ongoing costs?
• Who is your target market?

How much can you charge customers?

Luckily we have done a lot of this research for you.

Choosing the right name is important and challenging. If you don’t already have a name in mind, visit our How to Name a Business guide or get help brainstorming a name with our Tax Preparation Business Name Generator

If you operate a sole proprietorship , you might want to operate under a business name other than your own name. Visit our DBA guide to learn more.

When registering a business name , we recommend researching your business name by checking:

• Your state's business records
• Federal and state trademark records
• Social media platforms
• Web domain availability .

It's very important to secure your domain name before someone else does.

Want some help naming your tax preparation business?

Business name generator, what are the costs involved in opening a tax preparation business.

You can start your tax prep business relatively modestly, but there are some unavoidable costs to consider:

Office rent—zero to $1,500 or more. This is a business that you can run from your home, but you must consider if that would be a smart move. First check to make sure your neighborhood is zoned for seeing clients (hopefully a lot of them over the course of a few months) from your residence. Also keep in mind that a storefront office in a part of town with good traffic can act as a billboard and encourage walk-in trade. This might be especially important when you start out. As for the cost of office space, that can vary dramatically from region to region and even from one part of town to another. Look for space that has been empty for awhile and a landlord who might be motivated to get some cash flow to the building for a short lease period of perhaps only three or four months rather than watch the space sit idle.

Business cards, logo and signage—$1,000 or less. If you’re operating out of your home, signage might not even be allowed. But anytime you are able to hang a sign, it will serve as a free billboard and encourage impulse walk-ins. Your logo and business cards can be designed inexpensively if you find a talented graphic design student trying to build a portfolio.

Office equipment and automation—$2,000, est. or more. Even if you’re working out of your home, you want your business to look as professional as possible. That means you should have an office desk and a comforable chair for yourself and as many as two for clients. You’ll also need at least one laptop and printer, or a computer for every employee.

Tax preparation software—$400-$500. There are various vendors depending on your needs.

Legal, licensure and insurance—2,000 est. You must first pass a 60-hour tax prep training course that can cost in the $500-$600 range, depending on where it’s taken. There are additional costs from the IRS and for liability insurance. Furthermore, a few states require additional regulatory adherence.  Visit here for an explanation of some of the training costs and requirements .

Employee costs—Vary. Some of the leading competitors pay individual tax preparers as little as $10 an hour. Others pay a commission of perhaps 20 percent of the fees generated. You’ll also be responsible for tax withholdings and your FICA and Medicare contribution for each hire.

What are the ongoing expenses for a tax preparation business?

If you have a temporary storefront, rent and utilities will be among your largest fixed costs. Temporary employees will also cost you either an hourly rate or a percentage of the business they handle. Other costs might include advertising if you’re looking for a sudden uptick in business.

Who is the target market?

Who will your typical clients be? You might mostly see lower-income earners filing to receive their earned income tax credit. Or more complicated cases from the self-employed or smaller businesses. Or the middle class, who aim to take advantage of various tax credits. Making this decision will help you determine where you might open a storefront, how and where you might market your business and what specific skills you must master.

How does a tax preparation business make money?

You’ll charge a fee for your services, based on the complexity and time involvement of the filing.

According to a National Society of Accountants survey  released in 2017, the average fee charged by tax preparers for an individual itemized 1040 return with a Schedule A form and state tax return was $273. For small business clients, the average charge was $457.

How much profit can a tax preparation business make?

Error-free speed is of the essence. With a statistic mentioned earlier of the average itemized individual return generating $273 in fees, one of these per hour is possible. However, especially as you start your business and before you attract a significant client base, you’ll face unprofitable downtime.

How can you make your business more profitable?

Some accountants or CPAs offer tax prep as one of a range of accounting services. This business is also compatible with financial services, real estate brokerages, insurance and other fields where the business owner is comfortable discussing financial issues with clients. Also keep in mind that if your client base significantly consists of private contractors and small business owners, they might have additional tax issues throughout the year.

And finally, consider conducting tax prep training classes as a complementary service. You could conduct such a class through  The Income Tax School .

Want a more guided approach? Access TRUiC's free Small Business Startup Guide - a step-by-step course for turning your business idea into reality. Get started today!

STEP 2: Form a legal entity

The most common business structure types are the sole proprietorship , partnership , limited liability company (LLC) , and corporation .

Establishing a legal business entity such as an LLC or corporation protects you from being held personally liable if your tax preparation business is sued.

Form Your LLC

Read our Guide to Form Your Own LLC

Have a Professional Service Form your LLC for You

Two such reliable services:

You can form an LLC yourself and pay only the minimal state LLC costs or hire one of the Best LLC Services for a small, additional fee.

Recommended: You will need to elect a registered agent for your LLC. LLC formation packages usually include a free year of registered agent services . You can choose to hire a registered agent or act as your own.

STEP 3: Register for taxes

You will need to register for a variety of state and federal taxes before you can open for business.

In order to register for taxes you will need to apply for an EIN. It's really easy and free!

You can acquire your EIN through the IRS website . If you would like to learn more about EINs, read our article, What is an EIN?

There are specific state taxes that might apply to your business. Learn more about state sales tax and franchise taxes in our state sales tax guides.

STEP 4: Open a business bank account & credit card

Using dedicated business banking and credit accounts is essential for personal asset protection.

When your personal and business accounts are mixed, your personal assets (your home, car, and other valuables) are at risk in the event your business is sued. In business law, this is referred to as piercing your corporate veil .

Open a business bank account

Besides being a requirement when applying for business loans, opening a business bank account:

• Separates your personal assets from your company's assets, which is necessary for personal asset protection.
• Makes accounting and tax filing easier.

Recommended: Read our Best Banks for Small Business review to find the best national bank or credit union.

Get a business credit card

Getting a business credit card helps you:

• Separate personal and business expenses by putting your business' expenses all in one place.
• Build your company's credit history , which can be useful to raise money later on.

Recommended: Apply for an easy approval business credit card from BILL and build your business credit quickly.

STEP 5: Set up business accounting

Recording your various expenses and sources of income is critical to understanding the financial performance of your business. Keeping accurate and detailed accounts also greatly simplifies your annual tax filing.

Make LLC accounting easy with our LLC Expenses Cheat Sheet.

STEP 6: Obtain necessary permits and licenses

Failure to acquire necessary permits and licenses can result in hefty fines, or even cause your business to be shut down.

State & Local Business Licensing Requirements

Certain state permits and licenses may be needed to operate a tax preparation business. Learn more about licensing requirements in your state by visiting SBA’s reference to state licenses and permits .

Most businesses are required to collect sales tax on the goods or services they provide. To learn more about how sales tax will affect your business, read our article, Sales Tax for Small Businesses .

Certificate of Occupancy

A tax preparation business can be run out of an office. Businesses operating out of a physical location typically require a Certificate of Occupancy (CO).  A CO confirms that all building codes, zoning laws and government regulations have been met.

• If you plan to lease a location :
• It is generally the landlord’s responsibility to obtain a CO.
• Before leasing, confirm that your landlord has or can obtain a valid CO that is applicable to a tax preparation business.
• After a major renovation, a new CO often needs to be issued. If your place of business will be renovated before opening, it is recommended to include language in your lease agreement stating that lease payments will not commence until a valid CO is issued.
• If you plan to purchase or build a location :
• You will be responsible for obtaining a valid CO from a local government authority.
• Review all building codes and zoning requirements for your business’ location to ensure your tax preparation business will be in compliance and able to obtain a CO.

Services Contract

Tax preparation businesses should require clients to sign a services agreement before starting a new project. This agreement should clarify client expectations and minimize risk of legal disputes by setting out payment terms and conditions, service level expectations, and intellectual property ownership. Here is an example of one such services agreement.

STEP 7: Get business insurance

Just as with licenses and permits, your business needs insurance in order to operate safely and lawfully. Business Insurance protects your company’s financial wellbeing in the event of a covered loss.

There are several types of insurance policies created for different types of businesses with different risks. If you’re unsure of the types of risks that your business may face, begin with General Liability Insurance . This is the most common coverage that small businesses need, so it’s a great place to start for your business.

Another notable insurance policy that many businesses need is Workers’ Compensation Insurance . If your business will have employees, it’s a good chance that your state will require you to carry Workers' Compensation Coverage.

FInd out what types of insurance your Tax Preparation Business needs and how much it will cost you by reading our guide Business Insurance for Tax Preparation Business.

STEP 8: Define your brand

Your brand is what your company stands for, as well as how your business is perceived by the public. A strong brand will help your business stand out from competitors.

If you aren't feeling confident about designing your small business logo, then check out our Design Guides for Beginners , we'll give you helpful tips and advice for creating the best unique logo for your business.

Recommended : Get a logo using Truic's free logo Generator no email or sign up required, or use a Premium Logo Maker .

If you already have a logo, you can also add it to a QR code with our Free QR Code Generator . Choose from 13 QR code types to create a code for your business cards and publications, or to help spread awareness for your new website.

How to promote & market a tax preparation business

As mentioned, your storefront might be your most effective marketing tool if opened within sight of your market audience. Also use social media, including LinkedIn and a Facebook group, to spread the word and communicate with your clients. Your marketing efforts might also go as low-tech and “old school” as handing out fliers to passersby and asking to post fliers or business cards in area businesses.

How to keep customers coming back

Excellent customer service—and satisfactory tax returns—will earn you repeat business through the years. These loyal clients are also likely to recommend you to friends, family or business associates.

STEP 9: Create your business website

After defining your brand and creating your logo the next step is to create a website for your business .

While creating a website is an essential step, some may fear that it’s out of their reach because they don’t have any website-building experience. While this may have been a reasonable fear back in 2015, web technology has seen huge advancements in the past few years that makes the lives of small business owners much simpler.

Here are the main reasons why you shouldn’t delay building your website:

• All legitimate businesses have websites - full stop. The size or industry of your business does not matter when it comes to getting your business online.
• Social media accounts like Facebook pages or LinkedIn business profiles are not a replacement for a business website that you own.
• Website builder tools like the GoDaddy Website Builder have made creating a basic website extremely simple. You don’t need to hire a web developer or designer to create a website that you can be proud of.

Recommended : Get started today using our recommended website builder or check out our review of the Best Website Builders .

Other popular website builders are: WordPress , WIX , Weebly , Squarespace , and Shopify .

STEP 10: Set up your business phone system

Getting a phone set up for your business is one of the best ways to help keep your personal life and business life separate and private. That’s not the only benefit; it also helps you make your business more automated, gives your business legitimacy, and makes it easier for potential customers to find and contact you.

There are many services available to entrepreneurs who want to set up a business phone system. We’ve reviewed the top companies and rated them based on price, features, and ease of use. Check out our review of the Best Business Phone Systems 2023 to find the best phone service for your small business.

Recommended Business Phone Service: Phone.com

Phone.com is our top choice for small business phone numbers because of all the features it offers for small businesses and it's fair pricing.

Is this Business Right For You?

If you are a well-organized, people-oriented person who’s taken professional courses to learn the tax preparation business and are at ease with automation and digital software, you could thrive at this largely seasonal business. You should be able to handle long and probably stressful hours in a contained season of intense activity from January through mid-April. After that, you’ll have plenty of time to recover!

Want to know if you are cut out to be an entrepreneur?

Take our Entrepreneurship Quiz to find out!

Entrepreneurship Quiz

What happens during a typical day at a tax preparation business?

Think of your business as falling into two periods—tax season and pre-season—with very different areas of responsibility for each. During tax season, you’ll primarily see clients and prepare and file their taxes. Your goal is to do almost nothing but handle your clients since the tax-filing season is bound by the deadline dictates of the Internal Revenue Service and other taxing agencies.

Off-season, your responsibilities are more diverse. Your pre-season day will probably include some or all of the following activities.

• Interviewing and hiring temporary tax-prep employees, if you have a customer base that justifies seasonal help
• Seeking temporary storefront offices if you plan on working from such a public space rather than from your home
• Ordering and mastering your tax preparation software since software glitches or usage confusion during filing season can result in customer fee losses in the hundreds or thousands of dollars
• Conducting marketing and social media strategies to atttract customers

What are some skills and experiences that will help you build a successful tax preparation business?

In the beginning, your sales and marketing skills will be critical. That’s because you have a narrow window of opportunity for attracting business and plenty of name-brand competition (H&R Block, Jackson Hewitt, TurboTax, etc.). You must also have the patience to prepare for your business success by taking the 60-hour tax course you’ll need for certification and applying for efiling licensure from the IRS.

Once you’re in business, you’ll have to be able to work fast, efficiently and accurately to see as many clients and submit as many tax filings as you can over your limited calendar time. You must also be able to make your clients feel at ease regarding such topics as income, debt, taxes and penalties.

What is the growth potential for a tax preparation business?

The U.S. tax code contains 73,000 pages. Eighty-two million individuals file annually and the complexity of the process discourages most people from preparing their own taxes. While politicians from both parties promise simplification of the tax code, the reality is that the process only grows more complex. That means you can always feel confident of a customer base eager for your help.

TRUiC's YouTube Channel

For fun informative videos about starting a business visit the TRUiC YouTube Channel or subscribe to view later.

Take the Next Step

Find a business mentor.

One of the greatest resources an entrepreneur can have is quality mentorship. As you start planning your business, connect with a free business resource near you to get the help you need.

Having a support network in place to turn to during tough times is a major factor of success for new business owners.

Learn from other business owners

Want to learn more about starting a business from entrepreneurs themselves? Visit Startup Savant’s startup founder series to gain entrepreneurial insights, lessons, and advice from founders themselves.

Resources to Help Women in Business

There are many resources out there specifically for women entrepreneurs. We’ve gathered necessary and useful information to help you succeed both professionally and personally:

If you’re a woman looking for some guidance in entrepreneurship, check out this great new series Women in Business created by the women of our partner Startup Savant.

What are some insider tips for jump starting a tax preparation business?

Start slow. In fact, before going on your own you might consider working for a season for one of the large competitors. This is a good way to sharpen your skills at using the software, confronting a variety of taxation challenges and working productively. You might also keep your day job and take on a few clients on nights or weekends at first. If you meet their needs they’re likely to be back for years to come—and be powerful word-of-mouth recruitment tools.

How and when to build a team

You look forward to the day when you’re so busy you need additional help. Remember, you don’t want to turn any client away because you don’t have time for them or you could lose them to a competitor forever. Before that happens, start to post for help on job boards. But be sure you state the requirement that applicants must have passed the 60-hour training course (or additional training if they’re to take on business tax clients).

Useful Links

Industry opportunities.

• National Association of Tax Professionals
• Jackson Hewitt (franchise opportunity)

Real World Examples

• Ann Arbor CPA

Further Reading

• What you need to start this business
• Tips for starting this business

Have a Question? Leave a Comment!

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How to Create a Business Plan for Your Tax Practice

Before you create your tax and accounting business you should establish a clear vision of what you want your company to become. One of the best ways to do this is to create a business plan.

Before you create your tax and accounting business you should establish a clear vision of what you want your company to become. The more you focus your overall vision, the more likely you are to achieve it. One of the best ways to do this is to create a business plan.

A business plan is often referred to as the roadmap of a business. It’s a comprehensive document that outlines important aspects of your current and future business operations. It also helps give your business direction by clarifying your objectives and goals. In this video, we walk through seven things you will want to consider while creating a business plan for your tax practice.

Number one: The type of entity

An important step in your business planning process is to decide what type of entity you will identify as. The different types of business entities are limited liability companies, also known as LLCs, C corporations, S corporations, partnerships, and sole proprietorships. Each has specific legal rights and responsibilities, from tax requirements to lawsuits, the number of shareholders, and profit divisions.

Many small businesses start as sole proprietorships and only look into other types of entities as they grow. Sole proprietorships are the simplest type of entity. However, they don’t offer much legal protection from litigation or debt collection. As a sole proprietor or a member of a partnership, personal assets such as your house and savings account can potentially be seized to satisfy business debts. Organizing as an LLC is a good alternative for small businesses who want to separate their personal liability from business liabilities.

Number two: Insurance costs

Insurance is a costly expense but is extremely important. Purchase the necessary insurance to ensure that you and your company are protected against any unexpected liabilities. Common insurance selections for tax practitioners are professional liability and health insurance. If you want additional protection, you can also consider purchasing disability, business interruption, errors and omissions, or property insurance.

We know there are a lot of insurance options, but don’t feel like you have to get every one. We recommend clarifying what your risks are and moving forward as you see best. Whichever insurance options you choose, be aware of the recurring costs and ensure that they fit into your budget.

Number three: Finances and budgeting

Budgeting is one of the most important aspects of starting your own business, so make this one of your top priorities as you build your business plan. The initial time spent creating your budget will have a huge effect on the business you are planning. Not only will it help ensure that your finances are under control, but it will help give you the confidence you need to focus on creating a thriving business.

Your budget doesn’t have to be overly complicated. A simple spreadsheet detailing your expenses and income is a great place to start.

Number four: Client payment methods

It’s hard to manage your budget if your clients miss payment deadlines or neglect to pay them entirely. As a business owner, you should do all you can to prevent this. A business plan is a good place to formalize your strategy for effectively collecting accounts receivable. The easier you make it for clients to pay you, the easier it will be for you to collect your payments on time. Consider offering a combination of traditional and modern payment options to your clients, including check, credit card, PayPal, or other online services. There are also many cloud-based accounting softwares like Canopy that let you effortlessly send invoices directly to your clients.

Number five: Services offered

Focus on what you are best at and make it a foundation of your company. Some accountants prefer bookkeeping and tax preparation, while others prefer tax resolution and wealth management. Other accountants prefer to focus on a very specific type of client and provide a wide range of services to that niche.

Whatever you prefer, make sure you have a clear strategy articulated in your business plan. You may decide to broaden your offerings, but limiting your focus is extremely helpful as you’re getting your new practice off the ground. Not only will it help keep you from getting overwhelmed with limited resources, but it can also help you acquire more of the right kind of clients as you build your reputation in a specific area.

Number six: Scope

In addition to plans for the immediate future, a business plan is a good place to write down your goals for the long term. What do you want your business to look like two, five, and even ten years from now?

These goals will help you make better decisions today—decisions that help move you toward your long-term goals. For example, you would take very different actions if you wanted to be a small, sole proprietorship versus a top 100 firm. Scope should include how many people you want to employ, anticipated revenue, number of locations, etc. When determining your scope, be realistic, but don’t be afraid to give yourself a challenge to work towards.

Number seven: Executive summary

The most technical part of the business plan is the executive summary. It is a one page, written overview of your company that gives a quick snapshot of where the company is at. This summary is vital if you plan to look for startup capital to help jumpstart your tax practice. Whether you’re considering approaching investors or just getting a small-business loan, this summary will be one of your most important tools for securing startup money.

For this reason, the executive summary should summarize your entire business plan in an insightful and appealing way. A good executive summary should be attention-grabbing, easy-to-digest, and concise. Invest time and effort into your executive summary so it can sell the entire business to readers.

Be sure to   subscribe to our YouTube page   and follow along with the rest of our   How to Start a Tax Practice   series. 

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Tax Preparation Business Plan Sample

Published Jan.29, 2019

Updated Apr.24, 2024

By: Noor Muhammad

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Table of Content

Do you want to start tax preparation business plan?

Do you really want to start a business with a little or no tension of managing your employees with literally no startup investment and no restriction of working hours? Well, you might be wondering whether such sort of business exists.

If you really have some knowledge of accountancy or if you have done some tax-related course, then starting a tax prep business will surely meet all the requirements of your dream business. You can start this business only by preparing taxes yourself or by renting a small office, hiring some staff for you.

Whether you are starting on a small scale or a large scale to get high paying clients, the first step will always be to prepare an effective business plan. To help you in making a professional business plan covering all the details, we are providing here sample business plan of a tax preparation startup named, ‘ConsulTax.

Executive Summary

2.1 the business.

ConsulTax will be a registered and licensed tax preparation service , owned by George Brad. The office building will be located in Madison, Wisconsin, USA. Business will be based upon preparing taxes such as federal and state tax, income tax, self-employment or any other tax for households as well as business owners.

2.2 Management

Before you start a tax preparation business , you must decide on which scale are you going to extend your startup. If you are starting on a large scale, you will need a strong management system with a detailed management plan else you can go through with a simple one.

As of George, although he is starting on a small scale, yet he has prepared a complete management plan for his business for the sake of completeness.

2.3 Customers

When you are doing so many efforts to start a tax business successfully, then why ignore the important fact of exploring about your customers. You must remember you will be working with multiple customers of different temperaments at the same time, so try to understand the demands they can have with a tax preparer.

Our customers will mostly be the owners of small businesses, head of small institutes, property owners, earning members of a household etc.

2.4 Business Target

Our target is to balance the initial cost of the startup with earned profits within a year of the launch. We aim at earning a net profit margin of $10k per month by the end of the first year.

Company Summary

3.1 company owner.

ConsulTax will be owned by George Brad, a business graduate from the University of Illinois. To be a professional tax preparer, George has taken the training from Accreditation Council for Accountancy and Taxation (ACAT), has got himself registered with Internal Revenue Service (IRS) after clearing their course, and finally obtained his Preparer Tax Identification Number to enter the field with a proper professional background.

3.2 Why the Business is being started

Millions of people have to pay a tax every year as the per policy of their country which is being changed by higher office holders continuously. Large companies and notable landlords usually afford a full-time accountant whereas, small business holders and mediocre seek the services of tax preparers to do all the confusing stuff for them. Considering this demand, freedom with respect to time and his marketing skills, George is starting a tax preparation business in his city.

3.3 How the Business will be started

ConsulTax will be a small tax preparation business, operating from a small office. George has decided to hire just two tax professionals, and other staff to help him starting a tax business .

The startup summary is as follows:

The detailed startup requirements are given below:

Services for customers

Before thinking about how to start a tax preparation business , you must decide what you will offer your customers. This preplanning and knowledge about what you have to do and what level of client’s satisfaction you will have to meet will make you more observant about your business and targets.

While creating your tax preparation business plan , you must include the detail about how you will be able to provide the optimal and efficient services to meet all the client’s satisfaction and needs. If you want to have an idea which services are provided by others in the market, you can take help from this sample business plan for the tax preparation startup, ConsulTax.

The services offered by ConsulTax are:

• Income Tax Preparation
• Income Tax Return Preparation
• Standard Tax Preparation
• Capital Gains Tax Preparation
• Other financial consulting and advisory services

The services will be increased after we have established ourselves as a successful business. We want to become the number one choice for our fellow citizens, that’s why we are preparing for our services before time to ensure and guarantee the quality of our services.

Marketing Analysis of Tax Preparation Business

After you have decided the services you will provide to your customers, the next step is to make marketing plan for tax preparation business . Marketing analysis is extremely important because it gives you an idea of your position in the market.

The marketing plan includes exploring what is going on in the market, who will be your customers and competitors. While preparing your tax services business plan, tax preparation marketing should be considered seriously, especially if you are working alone.

You will need a strong marketing plan to market your services and get introduced to as many people as possible. Otherwise, you can sort out other advertisement techniques by reading tax preparation advertising samples available on the web. Another way of getting more and more ideas about business plan preparation service is to observe what others with the same or nearly same business are doing to market them.

We are also providing the sample business plan for tax preparation service of ConsulTax for your help.

Immigration business plan

5.1 market trends.

There are several small businesses running in the United States which cannot afford a full-time tax consultant or accountant but need the assistance of a professional tax preparer almost every time they need to pay their taxes. Millions of people have to pay a tax every year as the per policy of their country which is being changed by higher office holders continuously. A person who is indulged in the day to day tasks always needs assistance with doing that tedious task, so the demand of this business is really high.

According to a report by U.S. Bureau of Labor Statistics, there were more than 90 thousand jobs for the tax preparers in the country in 2014. The value has increased by a significant amount in 2018. According to IBISWorld, there are about 118,890 registered and licensed Tax Preparation firms running in the United States of America alone. More than 292 thousand have got their employment through this business, generating a revenue of $10 billion annually. Moreover, the business is forecasted to increase by the rate of 4.5% annually. These stats show that you will not be at loss, provided that you plan your business successfully.

5.2 Marketing Segmentation

It is very important to analyze the market segmentation of the future customers of your services before developing your business plan. Our experts have identified the following type of target audience which can become our future consumers:

The detailed marketing segmentation of our target audience is as follows:

5.2.1 Corporate Sector: The biggest consumer of our services will be the corporate sector in Madison, who needs a lot of documentation and following of policies while preparing for their different types of taxes. During the initial stages of our business, we will mainly focus on the small companies to get us introduced to big dealers with much experience.

5.2.2 Earning Members: Our second target group comprises of the workers servicing in Madison, we will do the work of tax preparations for them to save them from the trouble of doing things by themselves about which they know nothing.

5.2.3 Property Owners: Our third target group consists of small and large property owners in Madison. We will advertise our services to get work offers from property owners for tax preparation.

The detailed market analysis of our potential customers is given in the following table:

Business Target

Our target is to balance the startup cost of our business with the earned profits within a year of the launch and; to earn the profit margin of $10k per month by the end of the first year.

5.4 Product Pricing

At the very initial stage of your business, product pricing must be decided by analyzing both the market demands and the position of your competitors. After great research and interpretation, George has decided to keep the prices of his services initially low as to get introduced to a wider scale of customers and building long-lasting relations with them.

Great service

Great service. Good turnaround time and quality work. Thanks!

Sales strategy must be developed and properly written in your tax preparer business plan as it is the stepwise guide for you to enhance and extend your business to approach your business target. It consists of an effective advertisement plan and a competitive approach which you can better understand from this sample tax preparation business plan .

6.1 Competitive Analysis

There are a lot of tax preparation businesses running all around here. However, we are passionate that with our unparalleled and exceptionally good service, we will soon be able to make our place in the market. To get introduced to our customers and to interact with more and more people we have decided to keep our prices low at the initial stages of the startup.

6.2 Sales Strategy

To introduce ourselves to the target market, we have come up with the following ideas of advertisement,

• We will distribute our brochures to our neighboring facilities and expected customers
• We will put our ads in newspapers and magazines
• We will start our campaign through social media sites
• We will be giving a 20 % discount on the second offering by the same client

6.3 Sales Monthly

6.4 Sales Yearly

6.5 Sales Forecast

Personnel plan

Here comes the most influencing and effective step from one of the steps to starting a tax business and that is your required staff.

George has developed the following personnel plan for his company.

7.1 Company Staff

George himself will handle the management tasks and will initially hire the following people:

• 1 Accountant to maintain records
• 2 Tax Preparers to help him in tax related services
• 1 Assistant to assist in day to day work
• 1 Front Desk Officer to receive calls, and attend customers
• 2 Drivers for quick transport when needed while preparing taxes

7.2 Average Salary of Employees

Financial plan.

If you are going to start tax preparer business , you might be wondering that what do i need to start a tax preparation business ? It is luckily the business with the lowest startup costs and can be run successfully by a small team. But it doesn’t matter whether you are starting your business on a large scale, hiring too many people, investing too much on the advertisement, or on a small scale, you will need to prepare a financial plan. A financial plan maps the company’s expenses with the earnings and answers the questions like how the startup costs will be balanced, how the company will be able to meet its financial targets.

If you too are wondering how to start a tax service business , just be systematic and organized to cover all the steps successful people usually take. First prepare your business plan, like the one of ConsulTax that we have shown you here. Focus on your advertising strategy for business plan as well as a detailed financial plan to help you through the startup phase.

Now, we are providing the financial plan of ConsulTax which was made by George himself, we are showing just a rough estimation but still, you can have a lot from it.

8.1 Important Assumptions

 8.2 brake-even analysis.

 8.3 Projected Profit and Loss

8.3.1 profit monthly.

8.3.2 Profit Yearly

8.3.3 Gross Margin Monthly

8.3.4 Gross Margin Yearly

8.4 Projected Cash Flow

8.5 Projected Balance Sheet

  8.6 business ratios.

  Download tax preparation business plan sample in pdf

OGS capital professional writers specialized also in themes such as business plan for bookkeeping services , finance business plan , business plan for holding , insurance agency business plan , business plan for payday loan , credit repair business plan and many other business plan.

OGSCapital’s team has assisted thousands of entrepreneurs with top-rate business plan development, consultancy and analysis. They’ve helped thousands of SME owners secure more than $1.5 billion in funding, and they can do the same for you.

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How to Start a Professional Tax Practice

Starting your own professional tax practice is a unique and intricate process, with Internal Revenue Service (IRS) requirements and ever-changing laws adding to the complexity. Whether you are planning on becoming a solo practitioner or starting a larger practice, this page provides a detailed explanation of the steps you can take to start your own professional tax practice to help ease the process for you.

1. Get registered

Once you have decided on a  type of entity  for your business, you can register your business with your state. A common way that small businesses register is by filing a Doing Business As (DBA) name with their state. This can be a simple way to become registered with your state without creating a formal business structure for your company. Another option is to form a limited liability company (LLC) or corporation for your business, which automatically registers your business with the state. Contact your state government to find more information about registering with your state.

Some business types may also require a Federal Employer Identification Number (EIN). While some states enable you to apply for an EIN during the business registration process, some states require a separate application.

Click here to see if you need an EIN. Some cities may require additional registration, licenses or permits, so please contact your county clerk for additional information.

The IRS requires that all tax preparers or firms filing 11 or more returns must electronically file. Before you can electronically file tax returns, you or your firm must apply to become an Authorized e-file Provider with the IRS and obtain an electronic filing identification number (EFIN). You will need to complete a separate EFIN application for each location from which your business will electronically file returns. Once you have submitted your application to become an Authorized e-file Provider, non-certified professionals will need to send a fingerprint set to the IRS so they can administer a suitability check. This may include a credit check, a criminal background check, a tax compliance check and a check for previous non-compliance with IRS e-file requirements. This process may take up to 45 days. There is no fee to obtain an EFIN.

To begin the application process, create an IRS e-services account, and then fill out your e-file application online. First, you will supply identification information for your firm. Next, you will enter information about each principal and responsible official in your organization. You choose your e-file provider option. If you are a return preparer and want to e-file for clients, select electronic return originator, or ERO. If the principal or responsible official is someone who is certified or licensed, such as an attorney, CPA or enrolled agent, they must enter current professional status information. All other individuals need to provide fingerprints to the IRS. You can find the most up-to-date information about the EFIN application process on the IRS " Become an Authorized e-file Provider " webpage.

It’s important to note that some states require e-file providers to submit a separate enrollment application for authorization to e-file individual or business tax returns. Check with relevant state tax agencies to understand state-level e-file requirements.

Anyone who prepares or assists in the preparation of federal tax returns for compensation must have a valid preparer tax identification number (PTIN). The IRS issues PTINs to anyone authorized to legally prepare and defend tax documents for individuals and companies. PTINs expire and need to be renewed every year. If you are starting a firm, keep in mind that PTINs cannot be shared by a firm. Every paid preparer must have their own PTIN before they can assist in preparing federal tax returns.

To obtain a PTIN number, you can register on the  IRS website . Applying online takes about 15 minutes.

2. Define your tax practice

The next challenge is determining how your business will bring in revenue, or what your business model will be. Will you provide year-around advisory and/or accounting services to your clients in addition to your tax expertise, or will you be a tax practice that operates on a largely seasonal basis? Within your tax practice, will you focus on business tax, individual tax, or both? And, what kind of clients do you want if you could choose? If you will offer business tax services, you could become an expert in certain  industries  or businesses of a specific size; if you will offer individual tax services, will you focus on high-net-worth individuals, self-employed clients, or perhaps target your services more broadly?

This is also the time to determine where your practice will be located. Will you open a dedicated office, share an office space, work from home, or use a virtual office?

It's important to make decisions on these elements of your business model now so that you can choose the right professional tax software and tools as well as marketing tools for your practice.

Use this  Tax Fee Wizard  to help benchmark and price your tax services. The wizard will give you the average price that pros with similar designations and years of experience charge for their tax preparation services, though you may want to adjust your pricing based on several other factors, including clients’ form complexity, your costs of doing business, your pricing strategy, and whether you offer the added value of year-round services.

If you’re unsure about the best model for you and your practice, talk to one of our experts for tips and advice. Making these decisions early on will help you make other important decisions down the road.

Prospective clients appreciate credentials, and there are many education and credential options for you and your new tax business, including certification in the IRS Annual Filing Program, education and certification from The Income Tax School, the IRS Enrolled Agent program for preparers who plan to represent clients in examinations, or even a Certified Public Accountant certificate for degreed accountants who plan to issue financial statements.

• The IRS Annual Filing Season Program : This program aims to recognize the efforts of non-credentialed return preparers who aspire to a higher level of professionalism.
• The Income Tax School : The Income Tax School provides Chartered Tax Professional, Chartered Tax Consultant and Chartered Tax Advisor certificate programs.
• Enrolled Agents (EAs) : An Enrolled Agent is a person licensed by the Internal Revenue Service required to pass a suitability check, take an extensive test covering individual and business taxes as well as representation issues, and undergo 72 hours of additional education every three years. They have the most extensive licensing provided by the IRS, valid across the entire country.
• Certified Public Accountants (CPAs) : CPAs are licensed by states or U.S. territories, and must pass the Uniform CPA Examination. Each state or territory establishes additional tax preparation requirements like education and review of certification requirements as well. Many CPAs will specialize in tax planning or preparation of returns.
• Tax attorneys :   Attorneys must be licensed by a state court or state bar after having earned a law degree and passed the bar exam. Not only are attorneys a registered tax return preparer, they also can prepare a legal defense for a client involved in a tax-related court case, even for taxes they did not prepare.

Some states, including  Oregon ,  California ,  Maryland  and  New York , have their own certification or registration requirements for professional tax preparers. Check with your state to find out if they have any additional regulations. 

3. Get tools to streamline tax preparation

The next step is to determine what professional tax software is right for you. There are a number of important factors to consider when choosing software:

• Does the software you’re considering offer the forms you need to support your clients?
• Does the software offer diagnostics to help you feel confident in the accuracy of the tax return?
• Does the software provider offer a free trial so you can assess the ease of use of the software?
• Does the software integrate with other key software that you may use, including accounting software, practice management software, a client portal, and more?
• Are you interested in cloud-based tax preparation software to help you prepare returns from any device, anywhere, and to eliminate the need for manual software updates?
• Does the software provider offer free onboarding, training and support on the software so you can quickly get and stay up to speed?
• Would you benefit from a simple  pay-per-return package  for low volumes of specific types of tax returns, or do you need a package that’s more economical for a larger number of returns?

Intuit® is the industry leader providing professional tax solutions for every budget and every style of practice. Whether you plan to prepare simple returns or complex returns, whether you prefer desktop solutions or online solutions, whether you plan to deliver professionally bound paper returns or tech-forward mobile device tax return delivery, Intuit can customize a solution as unique as you.

• ProConnect Tax : ProConnect Tax is the #1 professional tax software on the cloud.* It is cutting-edge, web-based professional tax software dedicated to innovating, re-imagining and streamlining tax preparation. It saves you time, money and helps you work more efficiently.
• Lacerte Tax : Perfect for tax and accounting firms with individual and business clients, Lacerte Tax helps professionals complete far more returns in far less time. From helping you move data seamlessly across your accounting and tax workflow to speeding you through preparation, Lacerte helps you finish faster.
• ProSeries Tax : ProSeries helps you service your clients faster and confidently beyond just the tax return with easy-to-enter forms, extensive error-checking, integrated tax research, and automated client service tools. You get an end-to-end solution to help you handle and attract more clients, resulting in a more successful tax practice. For former TurboTax users, ProSeries is often an easy transition because of similarities in the product.

Compare these Intuit professional software options to find out which may be the best fit for you

In addition to this core software, Intuit and other companies offer other integrated tools to help you work efficiently and collaborate with your clients or saff from whatever you all are.

For working with your staff in a virtual office, Intuit offers  desktop hosting for Lacerte and ProSeries , which provides the freedom and flexibility to work anytime, from anywhere.

For working with your clients in a virtual office, you can leverage  Intuit Link  as a client portal for document collection and management and  eSignature  to gather and track digital signatures on a wide-variety of tax forms and documents.

Finally,  Intuit Pay-by-Refund  gives you an easier way for clients to pay your preparation fee, ensuring that they get their refund and you get paid.

Tax laws, technology and even client expectations are constantly changing, and it’s essential to stay up to date to run a successful practice. Intuit offers several resources in the  Intuit Accountants Training Center  to help you continue learning, including live and recorded webinars (including many that offer free CPE credit), how-to videos and peer training via forums. We keep our customers up to date on the latest tax law changes and the impact they have on Intuit software, the latest technology updates, best practices to help keep your client’s data secure, how to grow your firm, and more.

Intuit Accountants also offers the  Tax Pro Center  — a collection of valuable content, including articles, infographics, and more, that provides insights on tax laws, building client relationships, and workflow efficiency to help you take your practice to the next level.

Lastly, trade associations, such as the National Association of Tax Professionals, as well as trade publications, such as  AccountingWeb ,  Accounting Today , and  the Journal of Accountancy , can help you stay educated on the latest in the profession.

4. Grow your tax business

While there many ways to market your new practice, here are a few common ways that tax pros get the word out about their practices so that you can start to develop a plan around marketing your own practice:

• Build a website : A website is a must-have for a business today. Use your website to tell your potential customers about you and your business model, and to list contact information. Our tax pros have found that it’s important to include your picture on the website, and that understanding SEO is also a key factor in success. Some of our other recommended marketing tactics below will cover additional ways to build out your website.
• Connect on social media : Social media can help you connect with potential clients and others in the industry, and develop a brand that represents your practice. Twitter, Facebook and LinkedIn are all great platforms to establish a social presence and connect with clients, peers and others in the industry, and some tax pros link to their social channels on their websites. With a large and growing number of social groups and communities online, finding trusted and useful online communities to turn to for networking, information and help can sometimes be a challenge, so read our article on “ 5 Online and Social Communities for Tax Professionals ” to get our recommendation on where to start.
• Network : In-person networking is important to growing your business as well. Many states and some cities offer local tax and accounting associations. A few national associations such as the National Association of Tax Professionals (NATP) have local chapters, and major accounting organizations like the AICPA and the National Association of Enrolled Agents (NAEA) have national conferences every year to help you network with industry experts and earn continuing education credits. Don’t forget your business cards at home!  Read our article on "5 Reasons you Should Join a Professional Association" to learn about more of the benefits.
• Use content marketing : From testimonials and case studies to articles that showcase your expertise, content marketing can be a way to stand out in the industry. You can host content marketing on your own site and share it via your social media channels to spread the word. Get lessons from a pro about how to use  content marketing  to grow your practice.
• Use direct marketing : Flyers, brochures and emails can be helpful vehicles as you spread the word about your services. Some tax professionals include discounts and other incentives in their collateral. Consider advertising your services using bulletins distributed by community centers, churches, and grocery stores.
• Ask existing clients for referrals : Word of mouth is important to many clients who are looking for a tax pro, so don’t be afraid to ask your current clients for referrals. You may also consider rewarding clients for referrals with discounts or other incentives. If you don't have any clients yet, set up referral program with your friends and family. Let them know now you are starting tax business -- you can help them with theirs if they can refer some friends to you. Get tips on how to  ask for referrals .
• Partnerships : Partner with other professionals who offer services that compliment, but don't compete, with yours. For example, you may be able to partner with an insurance agent, offering services to his or her customers while referring the agent to your clients who are looking for additional coverage.

To further help your business clients and generate another revenue stream, consider adding accounting and bookkeeping services to your practice’s offerings when you’re ready. Intuit’s  QuickBooks Online Accountants portfolio  has many tools to help you grow your client base, sharpen your skills and become more efficient. By getting certified as a QuickBooks ProAdvisor, you earn perks like a free listing in the Find-A-ProAdvisor directory, free or discounted products for you and your clients, and preferential support.

For other marketing tips and resources to grow your practice, visit the  Intuit Marketing Hub.

5. Learn more

Download our "How to Start Your Tax Preparation Business" check list to guide you as you take the necessary steps to jumpstart your own tax preparation business.

Need more assistance? Learn more about  Intuit Accountants.

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Payment plans

How to set up a manageable payment plan to pay the tax you owe.

Last updated 5 May 2024

What is a payment plan?

You need to lodge and pay your tax bills in full and on time to avoid penalties, general interest charges (GIC) and firmer actions. However, if you’re experiencing financial difficulties you may be eligible to set up a payment plan.

A payment plan allows you to break down your payment into smaller amounts that are made via instalments and are spread over the shortest possible fixed period of time. When you set up a payment plan, you pay an agreed sum of money weekly, fortnightly or monthly until the balance is cleared.

Tax debts on a payment plan continue to accrue GIC, which compounds daily. Paying your debt in the shortest period of time will help reduce the GIC that you’ll pay.

Who can set up a payment plan

Payment plans are available to eligible:

• individuals
• sole traders
• registered tax or BAS agents on behalf of their clients.

We consider many factors when you apply to set up a payment plan. Depending on the circumstances, you may not be eligible for a payment plan on the terms you suggest or at all. If you have not been successful in setting up a payment plan online or through our automated phone service, you will need to phone our lodge and pay enquiry line during operating hours to discuss your eligibility.

Before setting up a payment plan

Before setting up a payment plan you should consider:

• if you can pay what you owe today - this will reduce how much GIC you pay
• how much you can pay today, and when you'll be able to pay in full.

Use our online payment plan estimator to calculate a payment plan you can afford. This tool also helps you work out how quickly you can pay off a tax debt and how much interest you’ll be charged. The longer you take to pay off your debt, the more interest you'll pay.

Once you work out a suitable payment scenario based on your circumstances, you can use it as a guide to set up a payment plan to meet your tax debts.

You can't use this estimator for super guarantee charge debts. To get help managing your super obligations, you can phone our lodge and pay enquiry line .

You should also be aware:

• you still need to lodge your obligations and pay any associated liabilities on time
• you must factor in payment of your ongoing obligations, in addition to any payment plan
• if you have multiple overdue tax debts, you will need to pay any other tax debt in full or set up payment plans to avoid defaulting or debt recovery action
• any tax credits and refunds you receive will be used to reduce your tax debt ( offsetting ) – this will not replace the required instalment payment
• you can make additional voluntary payments or pay off the debt at any time.

Setting up a payment plan

There are a few ways to set up a payment plan. Your registered tax or BAS agent may also be able to set a payment plan up on your behalf. 

Online services

If you owe $200,000 or less, you may be able to set up a payment plan through our online services.

If you are an individual (including a sole trader), you can use online services . You will need an active myGov External Link account linked to the ATO. Businesses can use Online services for business External Link by selecting Accounts and payments, then payment plans .

When you set up a payment plan, we will help you save on interest by guiding you to pay what you owe in the shortest time. We will provide you with:

• an upfront amount you need to pay
• suggested instalment amounts that have been manageable for clients with similar circumstances to yours.

You can vary the upfront and instalment amounts above or below the amounts provided, up to certain values.

Self-help phone line

If you owe $200,000 or less, you may also be able to use our self-help service for individuals and sole traders or automated service for business enquiries . You will need your Australian business number (ABN) or tax file number (TFN) handy, and the full details of the amount payable.

Contacting us

If you owe more than $200,000 or are unable to set up a payment plan online, you will need to contact us during operating hours for assistance.

You will need your ABN or TFN handy, and the full details of the amount payable. We will ask for more detail about your circumstances, including:

• why you can't pay by the due date
• your bank details, including current account balances and any lines of credit
• your income, including if it can meet the proposed payment plan

To prepare for this conversation, you can visit Moneysmart.gov.au External Link and use their budget planner External Link . This can help you understand your financial position so you can make a suitable payment proposal.

We will ask further questions about your circumstances if you have:

• received a warning of firmer recovery or legal actions in the past 6 months or have progressed with these actions
• defaulted on or cancelled 2 or more payment plans in the past 12 months
• requested additional support due to significant financial hardship.

Registered agents

If you're a registered tax or BAS agent, you can use our Online services for agents to view, set up, adjust or cancel a payment plan for your client if they:

• owe $200,000 or less
• does not already have a payment plan for that debt amount.

This video explains how to set up a payment plan for your client .

If your client does not meet these requirements, you can phone our registered agent phone line to discuss their options. Use our fast key code guide to get in touch with the right area.

Interest-free payment plans for overdue activity statement amounts

Small businesses that owe activity statement amounts may be able to make interest-free payments over 12 months.

Eligibility

You may be eligible for an interest-free payment plan if your business:

• has an annual turnover of less than $2 million
• has recent amounts owed from an activity statement of $50,000 or less that have been overdue for up to 12 months
• no more than one payment plan default within the last 12 months
• no outstanding activity statement lodgments
• cannot obtain finance (such as a loan) through normal business channels
• can demonstrate ongoing viability.

How it works

You must agree to a payment plan that allows the amounts owed to be paid by direct debit within 12 months. Even if you receive a letter stating that interest will apply, it will be remitted as long as you maintain your payment plan.

While you're paying your bill, you:

• can check your running account balance by logging into the Online services for business External Link or phoning our business enquiry line
• must meet all of your other payment and lodgment obligations.

Registered tax or BAS agents can check the running account balance by:

• using Online services for agents or by referring to the Online services for agents user guide for instructions
• phoning our registered agent phone line
• phoning 13 72 86 (Fast Key Code 1 2 5 1 ).

If you're already in a payment plan

You can ask us to change your existing payment plan to an interest-free payment plan if you satisfy the eligibility criteria.

If your request is approved, we’ll cancel your previous plan. The interest-free period will start from the date you enter into the new plan.

Phone our business enquiry line during operating hours to change to an interest-free payment plan if eligible.

Managing your payment plan

Setting up direct debit.

The easiest way to stay on top of your payment plan instalments is to set up a direct debit. You can set up direct debit payments at the same time you set up your payment plan – from either a financial institution (bank) account or a credit or debit card (a  card payment fee  will apply).

Only the card holder can set up a direct debit payment plan using a credit or debit card. Alternatively, you can pay individual instalments with your credit card or any of the other payment options available for paying the ATO .

Modifying instalments and changing how you pay

You can modify an instalment from direct debit to a different payment method (including, from one credit or debit card and linking it to another card). You can also modify an instalment date or amount or cancel an instalment.

If you make any changes, you will need to do this at least:

• one business day before the instalment date, if the payment method is direct debit via credit or debit card
• 3 business days before the instalment date, if the payment method is direct debit via your bank accounts.

A payment plan cannot be modified online if the current plan extends for longer than 24 months or if the changes will extend the plan by longer than 24 months.

You can update the instalment amounts of your payment plan through our online services:

• individuals and sole traders can use ATO online services
• businesses can use Online services for business External Link on the Payment Plan page
• tax and BAS agents can refer to the Online services for agents user guide for instructions on how to modify an instalment in Online services for agents .

Tax and BAS agents cannot modify the payment plan or instalment schedule if the payment method is direct debit via credit or debit card. Only the card holder can do this.

Checking the status of your payment plan

Individuals and sole traders can view the status of their payment plan in ATO online services . From the Tax menu, select Payment and then select Payment Plans from the next menu.

Businesses can check their payment plan status from the Accounts and Payments menu in Online services for business External Link . For more detail about each payment plan status, click the help icon.

Arrears status

If you missed a scheduled instalment or haven’t paid another tax obligation by the due date, you may still have time to pay before your payment plan defaults.

You may receive a letter from us informing you that your accounts are in arrears, and you have an opportunity to catch up before your payment plan defaults. This letter outlines the minimum amount you need to pay now and other actions you need to take to prevent your payment plan from defaulting.

myGov users will receive the letter through their myGov inbox in the first instance. If you have set up a preference to send correspondence to your tax agent, the arrears letter will be sent to them.

Secured payment plans

If we can't reach an agreement with you about paying amounts you owe, we may consider accepting an offer of security where you either:

• request we defer the time of payment of a debt
• seek to pay a debt by instalments.

Our preferred securities are:

• a registered mortgage over freehold property
• an unconditional bank guarantee from an Australian bank.

For more information about a secured payment plan, phone our lodge and pay enquiry line during operating hours.

For more information, see PS LA 2011/14 General debt collection powers and principles.

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Financial Reporting and Analysis Software

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Russian Company OOO "GLOBUS"

Brief profile.

active Commercial

Facts to Consider

An encumbrance over the founders’ share is reported.

The founder of the organization has changed.

show 1 more significant fact

A significant amount of the taxes paid (352 mln. RUB.).

The organization has an auditor's opinion.

show 3 more positive facts

Complete Profile

• 1. General Information
• 2. Registration in the Russian Federation
• 3. Company's Activities
• 4. Legal Address
• 5. Owners, Founders of the Entity
• 6. OOO "GLOBUS" CEO
• 7. Entities Founded by Company
• 8. Number of Employees
• 9. Company Finance
• 10. Entities related to OOO "GLOBUS"
• 11. Timeline of key events
• 12. Latest Changes in the Unified State Register of Legal Entities (USRLE)

General Information

Full name of the organization: OBSHCHESTVO S OGRANICHENNOI OTVETSTVENNOSTIU "GLOBUS"

TIN: 5031075380

KPP: 505301001

PSRN: 1075031005565

Location: 144000, Moscow Oblast, Elektrostal, ul. Pervomaiskaia, 15 str. 3

Line of business: Production, transmission and distribution of steam and hot water; air conditioning (OKVED code 35.30)

Organization status: Commercial, active

Form of incorporation: Limited liability companies (code 12300 according to OKOPF)

Registration in the Russian Federation

The tax authority where the legal entity is registered: Mezhraionnaia inspektsiia Federalnoi nalogovoi sluzhby №6 po Moskovskoi oblasti (inspection code – 5031). The tax authority before 08/23/2021 – Inspektsiia Federalnoi nalogovoi sluzhby po g. Elektrostali Moskovskoi oblasti (code 5053).

Registration with the Pension Fund: registration number 060055023355 dated 26 November 2015.

Registration with the Social Insurance Fund: registration number 503100729150191 dated 25 November 2015.

Company's Activities

The main activity of the organization is Production, transmission and distribution of steam and hot water; air conditioning (OKVED code 35.30).

Additionally, the organization listed the following activities:

OOO "GLOBUS" holds license entitling to carry out the following activities:

Legal Address

OOO "GLOBUS" is registered at 144000, Moscow Oblast, Elektrostal, ul. Pervomaiskaia, 15 str. 3. ( show on a map )

No other organizations are listed at the current registered address.

Owners, Founders of the Entity

The founder of OOO "GLOBUS" is

Below are the former founders:

Subject to the entire chain of the current founders, the list of OOO "GLOBUS" ultimate founders is as follows:

OOO "GLOBUS" CEO

The head of the organization (a person who has the right to act on behalf of a legal entity without a power of attorney) since 16 May 2018 is general manager Koval Konstantin Leonidovich (TIN: 500105870510).

Also Koval Konstantin Leonidovich is a founder of OOO "EIUTSK 1" .

Previously the organization was managed by (general manager from 09/12/2014 until 05/16/2018 * ).

Entities Founded by Company

Previously the organization was listed as a founder in:

• AO "EIUTSK" (Moscow Oblast, Elektrostal; 51%; 181 million RUB) - until 12/07/2021
• OOO "CHISTYI GOROD" (Moscow Oblast, Elektrostal; 99.96%; 78.4 million RUB) - until 11/09/2018

Number of Employees

In 2023, the average number of employees of OOO "GLOBUS" was 272 people. This is 3 people less than in 2022.

Company Finance

The Authorized capital of OOO "GLOBUS" is 8.2 million RUB. This is significantly higher than the minimum authorized capital established by law for LTD (10 thousand RUB).

In 2023, the organization received the revenue of 1.7 billion RUB, which is 85.9 million RUB, or by 4.8 %, less than a year ago.

As of December 31, 2023, the organization's total assets were 2.1 billion RUB This is 7.1 million RUB (by 0.3 %) less than a year earlier.

The net assets of OOO "GLOBUS" as of 12/31/2023 totaled 473 million RUB.

The OOO "GLOBUS"’s operation in 2023 resulted in the profit of 64.1 million RUB. This is by 39 % more than in 2022.

The organization is not subject to special taxation regimes (operates under a common regime).

Information about the taxes and fees paid by the organization for 2022

The organization had no tax arrears as of 02/10/2024.

Entities related to OOO "GLOBUS"

Based on the data from the Unified State Register of Legal Entities, the following legal entities and people are directly or indirectly related to the organization.

Timeline of key events

• The new founder – OOO "TEPLOVAIA GENERATSIIA" .
• is no longer listed as the founder in the Unified State Register of Legal Entities.
• Rostov Veniamin Vladimirovich is no longer listed as the founder in the Unified State Register of Legal Entities.

Latest Changes in the Unified State Register of Legal Entities (USRLE)

• 03/28/2023 . Change of information about a legal entity contained in the Unified State Register of Legal Entities.
• 09/27/2022 . Change of information about a legal entity contained in the Unified State Register of Legal Entities.
• 08/23/2021 . Entering information about accounting with the tax authority.
• 04/09/2021 . Change of information about a legal entity contained in the Unified State Register of Legal Entities.
• 04/07/2021 . Change of information about a legal entity contained in the Unified State Register of Legal Entities.
• 12/25/2020 . Change of information about a legal entity contained in the Unified State Register of Legal Entities.
• 10/09/2020 . Change of information about a legal entity contained in the Unified State Register of Legal Entities.
• 03/08/2020 . Changes to the information contained in the Unified State Register of Legal Entities in connection with the renaming (resubordination) of address objects.
• 10/01/2019 . Submission by the licensing authority of information on the renewal of documents confirming the existence of a license (information on the renewal of a license).
• 12/28/2018 . Change of information about a legal entity contained in the Unified State Register of Legal Entities.

* The date of change in the Unified State Register of Legal Entities is shown (may be different from the actual date).

The data presented on this page have been obtained from official sources: the Unified State Register of Legal Entities (USRLE), the State Information Resource for Financial Statements, the website of the Federal Tax Service (FTS), the Ministry of Finance and the Federal State Statistics Service.

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635th Anti-Aircraft Missile Regiment

635-й зенитно-ракетный полк

Military Unit: 86646

Activated 1953 in Stepanshchino, Moscow Oblast - initially as the 1945th Anti-Aircraft Artillery Regiment for Special Use and from 1955 as the 635th Anti-Aircraft Missile Regiment for Special Use.

1953 to 1984 equipped with 60 S-25 (SA-1) launchers:

• Launch area: 55 15 43N, 38 32 13E (US designation: Moscow SAM site E14-1)
• Support area: 55 16 50N, 38 32 28E
• Guidance area: 55 16 31N, 38 30 38E

1984 converted to the S-300PT (SA-10) with three independent battalions:

• 1st independent Anti-Aircraft Missile Battalion (Bessonovo, Moscow Oblast) - 55 09 34N, 38 22 26E
• 2nd independent Anti-Aircraft Missile Battalion and HQ (Stepanshchino, Moscow Oblast) - 55 15 31N, 38 32 23E
• 3rd independent Anti-Aircraft Missile Battalion (Shcherbovo, Moscow Oblast) - 55 22 32N, 38 43 33E

Disbanded 1.5.98.

Subordination:

• 1st Special Air Defence Corps , 1953 - 1.6.88
• 86th Air Defence Division , 1.6.88 - 1.10.94
• 86th Air Defence Brigade , 1.10.94 - 1.10.95
• 86th Air Defence Division , 1.10.95 - 1.5.98

MOSCOW - RUSSIA

Ewf b.v east west forwarding.

Edelveis, Right Entrance, 2nd Floor Davidkovskaja, 121352 Moscow, Russia

• Phone: +7 495 938-99-66
• Mobile: +7 495-997-0977
• Fax: +7 495 938-99-67
• email: [email protected]
• web: www.eastwestforwarding.com

Company Profile

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The Unique Burial of a Child of Early Scythian Time at the Cemetery of Saryg-Bulun (Tuva)

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Pages:  379-406

In 1988, the Tuvan Archaeological Expedition (led by M. E. Kilunovskaya and V. A. Semenov) discovered a unique burial of the early Iron Age at Saryg-Bulun in Central Tuva. There are two burial mounds of the Aldy-Bel culture dated by 7th century BC. Within the barrows, which adjoined one another, forming a figure-of-eight, there were discovered 7 burials, from which a representative collection of artifacts was recovered. Burial 5 was the most unique, it was found in a coffin made of a larch trunk, with a tightly closed lid. Due to the preservative properties of larch and lack of air access, the coffin contained a well-preserved mummy of a child with an accompanying set of grave goods. The interred individual retained the skin on his face and had a leather headdress painted with red pigment and a coat, sewn from jerboa fur. The coat was belted with a leather belt with bronze ornaments and buckles. Besides that, a leather quiver with arrows with the shafts decorated with painted ornaments, fully preserved battle pick and a bow were buried in the coffin. Unexpectedly, the full-genomic analysis, showed that the individual was female. This fact opens a new aspect in the study of the social history of the Scythian society and perhaps brings us back to the myth of the Amazons, discussed by Herodotus. Of course, this discovery is unique in its preservation for the Scythian culture of Tuva and requires careful study and conservation.

Keywords: Tuva, Early Iron Age, early Scythian period, Aldy-Bel culture, barrow, burial in the coffin, mummy, full genome sequencing, aDNA

Information about authors: Marina Kilunovskaya (Saint Petersburg, Russian Federation). Candidate of Historical Sciences. Institute for the History of Material Culture of the Russian Academy of Sciences. Dvortsovaya Emb., 18, Saint Petersburg, 191186, Russian Federation E-mail: [email protected] Vladimir Semenov (Saint Petersburg, Russian Federation). Candidate of Historical Sciences. Institute for the History of Material Culture of the Russian Academy of Sciences. Dvortsovaya Emb., 18, Saint Petersburg, 191186, Russian Federation E-mail: [email protected] Varvara Busova  (Moscow, Russian Federation).  (Saint Petersburg, Russian Federation). Institute for the History of Material Culture of the Russian Academy of Sciences.  Dvortsovaya Emb., 18, Saint Petersburg, 191186, Russian Federation E-mail:  [email protected] Kharis Mustafin  (Moscow, Russian Federation). Candidate of Technical Sciences. Moscow Institute of Physics and Technology.  Institutsky Lane, 9, Dolgoprudny, 141701, Moscow Oblast, Russian Federation E-mail:  [email protected] Irina Alborova  (Moscow, Russian Federation). Candidate of Biological Sciences. Moscow Institute of Physics and Technology.  Institutsky Lane, 9, Dolgoprudny, 141701, Moscow Oblast, Russian Federation E-mail:  [email protected] Alina Matzvai  (Moscow, Russian Federation). Moscow Institute of Physics and Technology.  Institutsky Lane, 9, Dolgoprudny, 141701, Moscow Oblast, Russian Federation E-mail:  [email protected]

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General election latest: Starmer 'prepared to use nuclear weapons if needed' as Labour makes national security push

Rishi Sunak is pledging to change the Equality Act to state that "sex" means "biological sex". Meanwhile, Sir Keir Starmer is reaffirming his commitment to the UK's nuclear deterrent. And a YouGov poll at 5pm will project how to Commons will look after 4 July.

Monday 3 June 2024 11:47, UK

• General Election 2024

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Election news

• Starmer 'prepared to use nuclear weapons' if needed
• Tories pledge to protect 'biological sex' as characteristic
• But Badenoch put on spot about why she hasn't done it already
• Starmer reaffirms support for nuclear deterrent
• Poll to reveal projected election winner at 5pm
• Politics at Jack and Sam's : The Day... We talk culture wars and real wars
• Be in the audience for our election leaders event
• Live reporting by Ben Bloch

Expert analysis

• Rob Powell: Tories put Labour on the spot over biological sex
• Adam Boulton: 'Starmtroopers' are purging Labour

Election essentials

• Trackers: Who's leading polls? | Is PM keeping promises?
• Follow Sky's politics podcasts: Electoral Dysfunction | Politics At Jack And Sam's
• Read more: Who is standing down? | Key seats to watch | How to register to vote | What counts as voter ID? | Check if your constituency is changing | Your essential guide to election lingo | Sky's election night plans

Our political correspondent Rob Powell is following the Tory campaign in Oxfordshire, where the PM is focusing largely on sports clubs. 

This is linked to the policy announcement today that the Conservatives will shake up the Equality Act and ensure "biological sex" is a protected characteristic. 

Rob explains that under the changes, places such as prisons or rape crisis centres could say they are solely for people whose biological sex is female. 

He says the party is "targeting the traditional Tory core vote", as well as trying to "stop leakage to Reform". 

But he also believes the Tories are trying to "put Labour on the spot to find out what they would do". 

Labour have said they wouldn't amend the Equality Act as they don't think there's a need, but that guidance should be updated. 

Supporters of Labour are much more split on the issue than Conservative voters, Rob says. 

He adds the Tories want to "pose that question to Labour" and are "setting up for the head-to-head debates in the coming days".

Labour has today launched an attack on Rishi Sunak, saying he earned a fortune working at a hedge fund that engineered a deal that was described as "extremely risky" around the financial crisis.

Sir Keir Starmer is asked by a journalist from The Guardian why Labour has waited so long to scrutinise the PM's record in his past career in finance.

He replies: "We have raised this before. I think it is relevant at this election for the voters to know what did the two candidates for prime minister do before they came into politics.

"I was working for the Crown Prosecution Service … trying to protect those who live in the United Kingdom from crime - Rishi Sunak was making money betting against the country in the financial crisis.

"I think that's for him to answer as to what he was doing before he came into politics."

That concludes the news conference with the Labour leader.

Sir Keir Starmer is challenged again on his position on the war in Gaza, and is asked if human rights matter there, in his view.

He replies: "Yes, of course, and international law matters in Gaza, and accountability matters in Gaza.

"And you wouldn't be human if you weren't affected by the images that we've seen, the reports coming out of Gaza, the sheer number of people who've been killed - many of them women and children.

"And also the knowledge that [Israeli] hostages are still being held."

He continues that the "best thing we can do for both sides is to press for that ceasefire immediately, straight away", adding: "That's been our position for weeks and weeks and weeks and months."

The key will be stopping the fighting, getting hostages out, and getting aid in.

"And then that duty we will have if we come into power to play our full part in resolving the conflict in the Middle East for the long-term and that can only happen if we work with our allies, if we play our part on the world stage and clear the path for a two-state solution."

Next, Sir Keir Starmer is asked if the public battle with the left of his party is part of his campaign strategy, and if he is comfortable with the way Faiza Shaheen - who was blocked from standing days ago despite having been selected by her local party - has been treated.

The Labour leader reiterates that his party has "changed", and "part of it is about making sure I've got the best possible candidates to put before the country".

He points to the veterans standing behind him who will be standing for Labour.

"That is evidence of a changed Labour Party," he declares.

A journalist from Forces News is next to ask a question of the Labour leader, and it centres on the nuclear deterrent.

All prime ministers when they come into the role have to write a letter to the commanders of Royal Navy nuclear submarines with instructions on whether or not to retaliate against a devastating nuclear attack on Britain.

Sir Keir Starmer is asked if he has given any thought to what he would write, and he replies that his commitment to the nuclear deterrent is "absolute".

But he says the "circumstances" of the use of nuclear weapons is "a matter of high confidentiality" and we should not expect someone who is serious about being PM to disclose them.

Next to ask a question of Sir Keir Starmer is Sky News political correspondent Serena Barker-Singh .

She puts to him that 100 creatives have signed a letter urging him to halt UK arms sales to Israel if he becomes PM to "end the UK's complicity in war crimes".

She notes that Sir Keir has said he wants to see the government's internal legal advice on Israel's complicity with international law, but she asks if he believes in the moral case for stopping arms sales given his concerns about what is happening in Gaza.

The Labour leader replies that the "scenes in Gaza are horrifying, particularly in relation to Rafah", which is why a ceasefire is the "number one priority".

He says there have been too many deaths, aid is "desperately needed", and Israelis are still being held hostage by Hamas.

Sir Keir says he has already been speaking to the UK's allies about the process towards a ceasefire so they can be ready for if they enter government.

On arms sales, he tells Serena that it is "for the government, obviously, to review the licences", but he has "been pressing for them to disclose that legal advice" and says he would request fresh advice if he becomes PM.

Next, Sir Keir Starmer is asked about the shadow foreign secretary and the deputy party leader having voted against the UK having nuclear weapons just eight years ago, and if he has spoken to the pair about that.

He replies: "I lead this party, I've changed this party. If we're privileged to come in to serve, I will be the prime minister of the United Kingdom, and I've made my commitment to this absolutely clear.

"I've got my whole shadow cabinet behind me on this. We have changed the Labour Party.

"I know full well that national security, defence of our country is the number one issue."

The Labour leader is taking questions from journalists, and he is asked by the BBC if, as PM, he would authorise the firing of nuclear weapons if needed.

Sir Keir Starmer replies that the nuclear deterrent is "fundamental" and "a vital part of our defence".

"Of course, that means we have to be prepared to use it."

He adds: "Nobody who aspires to be prime minister would set out the circumstances in which it would be used - that would be irresponsible."

Sir Keir is also asked if Labour has really changed on defence, noting that both the shadow foreign secretary and the deputy party leader voted against the UK having nuclear weapons just eight years ago.

He repeats that it is a "changed Labour Party", and adds: "The most important thing is that I voted in favour of the nuclear deterrent."

He says his "commitment to the nuclear deterrent is absolute".

The Labour leader has just delivered a speech in Greater Manchester on national security and the UK's nuclear deterrent.

Here is what he said, as he said it:

• Sir Keir Starmer opens by remembering the "bravery" and "courage" of the soldiers who served on D-Day and "brought liberation to Europe";
• He echoes the PM's language, saying the world "is perhaps more dangerous and volatile than at any time since then", which is a "shock" for his generation that remembers the feeling when the Berlin Wall came down;
• He says the moment Russia invaded Ukraine is "when I understood the post-war era is over and a new age of insecurity has begun";
• Sir Keir reiterates the message of his "changed Labour Party" since the Corbyn era, declaring "national security will always come first";
• Turning to politics, the Labour leader says he tried to not make national security a political issue, but accused the Tories of having "questioned this Labour Party's commitment to national security", and declares: "I will not let that stand";
• He says the UK has to be "fit to fight", and adds that Labour is "totally committed to the security of our nation, to our armed forces, and importantly, to our nuclear deterrent";
• He says Labour will maintain the UK's at-sea deterrent, fund all future upgrades, and oversee the construction of four new nuclear submarines in Barrow-in-Furness;
• Sir Keir also recommits to spending up to 2.5% of GDP on defence "as soon as possible" - but does not say when that will be;
• He closes by saying national security is "not a party political issue - it is a national issue".

The shadow defence secretary is first to speak about Labour's plans to keep the UK secure.

John Healey opens by saying that when Sir Keir Starmer first appointed him to the role, he told him: "John, never again will Labour go into an election not trusted on national security."

He says Labour has "deep pride" in helping with the UK's defence, noting that the party helped established NATO after the Second World War, as well as the nuclear deterrent.

He declares that "Labour is now the party of defence", saying the party has changed since the Jeremy Corbyn era - which really seems to be the key message of today.

Mr Healey says a total of 14 ex-forces members will be standing for Labour on 4 July, which is a record.

The shadow defence secretary commits to spending up to 2.5% of GDP on defence - but does not say when that will be met.

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