Does anyone here own a tax prep business on the side or full-time? What are the pros and cons?

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Cons: most employers prohibit and you will be fired if caught

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Most employers want you to seek written consent before starting the business. And if the hours are estimated too much then you would be told to stop. May also have to pay your employer a commission because you are using intellectual property acquired while working full time due to their training.

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Pros are additional income for potentially "monkey can do" work. And actually preparing a tax return for an individual in need of expert help or their stress level would go through the roof. There is more gratification in it when you can pick and choose your client and work closely with them cause it matters to them

What sta1 said. Other downside is the potential liability that you open yourself up to. I don't know what size firm you're with, but if it's one that would accept the sort of returns you're considering, talk to a partner, bring in the business, look like a rainmaker, and work out some sort of referral fee % with your firm. If you're with the right firm, it could make you look pretty awesome.

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