Tax Preparation Business

2 Tax Preparation Business Success Stories [2024]

Pat Walls

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Updated: October 7th, 2024

Do you have experience in tax preparation? You can capitalize on your math abilities and attention to detail by starting a tax preparation business.

Basic tax types include:

Individual income taxes
Corporate income taxes
Sales taxes
Property taxes

To start a taxation business, you can use an in-home taxation preparation service or build taxation software. Taxation experts can specialize in certain taxation types or offer general tax consultations.

In this list, you'll find real-world tax preparation business success stories and very profitable examples of starting a tax preparation business that makes money.

1. Free Cash Flow ($300K/year)

During COVID-19, accountant Alan Chen noticed online influencers facing financial mishaps. With his Big Four experience, he launched FreeCashFlow.io, now serving a niche market of content creators with precise tax and accounting solutions.

How much money it makes: $300K/year
How much did it cost to start: $500
How many people on the team: 2

Helping Youtubers & Online Content Creators With Their Accounting Turned Into A $300K/Year Business

A case study about FreeCashFlow.io, an accounting agency that specifically caters to the financial needs of Onlyfans models and entrepreneurs, helping them with bookkeeping, taxes, and financial management, all while overcoming the stigma associated with the industry.

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2. A4E ($96K/year)

Sara, the original founder of A4E, launched the business in 2018 as a tax services company. However, after realizing that many of her tax customers had messy books and low profit margins, she decided to expand the services to include bookkeeping and CFO services. This shift allowed A4E to become a strategic partner for its customers, providing them with comprehensive accounting solutions. Since then, the business has experienced significant growth, with a MRR of $8k and a targeted MRR of $13k by the end of the year.

How much money it makes: $96K/year
How much did it cost to start: $1K
How many people on the team: 2

How We Started A $8K/Month Bookkeeping, Tax And CFO Service

A4E, a full-service accounting business, grew five times from when it started about a year ago when it was only offering tax services, and its current MRR is around $8k with a targeted MRR of $13k, providing 100% done-for-you accounting solutions that combine bookkeeping, taxes and CFO services under one roof and for an amazing value for US-based businesses in tech-related industries and services.

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Read by 10,210 founders