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17 Tips to Become Tax Preparation Consultant in Nigeria

Tax Preparation Consultant: It’s not the sort of side business idea that’s covered in glory.

But someone needs to make sure all the numbers add up at the end of the year.

Every business and most individuals need someone with the domain expertise.

To help prepare tax returns, especially time or resource-strapped small business owners.

Businesshab provides an in-depth foundational understanding of how to prepare tax returns.

And stay current with ever-changing laws.

Tax Preparation Consultant

Tax Preparation Consultant: https://www.taxconsultantsinc.net

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Tax Preparation Consultant

That’ll certify you with tax prep skills in as little as a few hours of training and practice.

Then once tax season rolls around you’ll be able to charge an average of $229 per return.

As a freelance tax preparer with this side business idea, according to CNBC.

Businesses are using consultants with more and more frequency.

Tax Preparation Consultant

Are you an expert in your field?

Do you publish, teach or advise in a specific discipline?

If you do, becoming a consultant might be a lucrative career step for you.

To start a consulting business you will need documented expertise.

A  small amount of business capital, business organizational skills and a tenacious drive to succeed.

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Tax Preparation Consultant

1. Gain skills on the job.

After graduating school or between semesters.

You should seek a consulting internship or work as a consultant trainee.

As the field is highly restrictive at the top levels.

Having experience with a well-known employer is often more important than your education or certifications.

Work with your school’s career development office to locate and apply for these positions.

  • Having this type of background is especially important.
  • If you plan to work for a major consulting firm that works with Fortune 500 companies.

Tax Preparation Consultant

2.Decide what skills you want to offer, then focus on your area of expertise.

Most consultants have years of experience, have worked as educators.
Or published work in their field.
 If there is an area of knowledge where people often seek your advice, this is a good place to start.
 Find out what type of license or certification you may need to consult in this field by searching online or asking similar professionals.

Tax Preparation Consultant

3. Make a business plan.

Define your goals, business structure and financial projections.

Business plans are not set in stone and may change as your business grows.

But a plan will help you remain focused.

4. Find the appropriate certification. 

In the business consultant field, the certification is based on your specialty.
For instance, if you want to work with small businesses.
You’ll likely get your certification with the Association of Accredited Small Business Consultants. 
On the other hand, if you’re going into the health field.
You’ll likely get your certification through the National Society of Certified Healthcare Business Consultants.
You can get a more general certification.
For instance, the Institute of Certified Business Consultants offers a certification as a general business consultant.

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Tax Preparation Consultant

5. Complete work experience requirements.

In some cases, you will need to have a certain amount of experience in the field before you can gain certification. For instance, the Institute of Certified Business Consultants requires that you have 3 years of experience before you can become certified.

6. Choose a company name.

Focus on what distinguishes you.
Choose a consulting niche that focus on one area, like retail sales growth or risk management consultant instead of just “business consultant.” This will help potential clients seek out your services.
Travel consultants might focus on a specific country, like China or a region, such as the Middle East and seek out clients who do business in those places.

Tax Preparation Consultant

7. Open your own consulting business.

Another option is to go into business for yourself.

As a small business owner, you could even work out of your home to get started, meeting with clients at their offices or at local coffee shops.

You may want to be working somewhere else while you set up your business, as early on, you may not have much cash flow.

  • Before opening your own business, know that opening a consulting business before gaining actual experience can be difficult, since experience translates into credibility a client’s mind. You may want to gain experience and a reputation first before going out on your own.
  • When setting up your business, consider all the things you do for someone else, such as writing a mission statement, creating a website, making a marketing plan, and creating a business plan.
  • Decide on the legal aspects of your business. You can open a limited liability business, where your business is partially separated from your personal finances when it comes to responsibilities for debt. A sole proprietorship is easier to set up, but you are personally responsible for any debt the company accrues.
  • Pay for the help you need. If you need legal advice about how to set up your business, hire a lawyer. If you don’t understand business accounting, hire a CPA.
  • Don’t forget to check your local laws to see what licenses you need to own your own consulting business.

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8. Target your niche market.

 Pinpoint a problem in your market, then offer a solution.
Security consultants may discover that banks need software to detect online fraud.
Wardrobe consultants may find that female clients need clothes that are both professional and feminine.
Legal consultants may choose a market that represents the most pressing legal issues of their area, such as foreclosure, medical malpractice, or insurance claims.

Tax Preparation Consultant

9. Set up your office.

Start with a home office to keep costs down, if possible.

Consultants often work in the field, so prime office space is not required.

You need things such as a business phone, computer, printer, business cards, web site and a business license to get started. You also need time to work on your business.

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10. Organize your business.

Get a calendar. Set aside time each day to work solely on your consulting business.

When you are not working for clients, work on administrative tasks such as marketing, research or accounting.

Create a standard contract that outlines your rates and services for clients. Update this as needed.

Have a plan for daily, weekly and monthly administrative duties.

Tax Preparation Consultant

11. Stick with it.

Most businesses take at least a year and sometimes 3 to 5 years to become profitable.

Keep working toward your goals. Push forward with a positive attitude.

Don’t give up too soon; your own belief in the success of your business is a key to making it work.

Read on:16 Tips to Apply Business USP in Nigeria

Tax Preparation Consultant

12. Spend time training.

With most certifications, you will need to spend time reading or training.

In some instances, you just take a review course before taking the exam.

Often, this training or review is done at your own pace, as you work through materials and tutorials to learn the information.

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Tax Preparation Consultant

13. Publish something.

Writing a book, software or teaching curriculum can help establish you as an expert in your field.

It also serves as a marketing tool for your business.

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Tax Preparation Consultant

14. Build up your network.

Networking is critical to being a consultant.

For one, it can help you get hired by a consulting company.

However, it’s also necessary to build up a network of people who own their own business or are high up in their company, as those are the people who are likely to hire you for consulting.

  • Attend local meet and greets in your area for young entrepreneurs.
  • You should also attend meetings and social events held by your local chamber of commerce.
  • As you meet people, strike up conversations. When you find someone you click with, ask for their contact information. Be sure to follow up with them later.
  • For example, you can shoot them an email talking about your meeting, saying something like, “Hi Josh, It was great to meet you the other day at that networking event. I was glad to find another Sooner fan in the area. There aren’t many of us! Call me if you want to have drinks sometime.

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15. Find jobs in your area.

To get started in the field, look for entry-level jobs at business consulting firms in your area.

You can use standard job search engines like Indeed, Jobs.com, Yahoo, or Monster.

  • You can also use job listings associated with any clubs or national organizations you belong to.
  • Don’t forget to hunt down specific firms. Sometimes, they will list postings on their sites first.

Tax Preparation Consultant

16. Put in the hours.

As a young consultant, you’ll need to put in extra hours to bring in clients.

As well as to meet all the demands of a very demanding job.

You’ll be working in a high-stress situation where you must be able to solve problems very quickly and in a turnaround time that you and the client determine together.

In addition, if you’re working for yourself.

You’re going to be under more pressure since you can’t ask for help from others in your company if you run into trouble.

  • Marketing and selling is not a paid activity; only consulting brings in revenue. You will need to estimate how many hours you will actually work (and be paid) in a year to establish your billing rate. Your billing rate must be competitive with other consultants that may have a higher ratio of work to marketing hours.
  • Be prepared for the fact that some clients will want to set unrealistic deadlines. If you’re on you’re own, you’ll need to be realistic with the client, as telling them you can meet a deadline you can’t isn’t good for either of you.
  • If you’re in a firm, ask about company policy for deadlines.
  • It may be that the company will back you up if they have a policy in place about how short a deadline can be set.

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Tax Preparation Consultant

17. Market yourself to organizations.

As a consultant, it will be your job to bring in clients, whether for your own business or for a lager consulting company.

That means that you have to sell yourself and your skills to that business.

Often, that’s where your network comes in.

You have to convince the people in your network that they need your help to act as a catalyst for their company or to fix problems that arise.

Another way you can sell yourself is to show you can save them money.

That is, if they bring you in when needed, they don’t need to hire a full-time analyst in their company.

You might also be hired to help train employees and management in certain skills or figure out why sales aren’t going up.

  • Make sure you are putting your name out there through a marketing plan.
  • You should have a web presence, including a website with testimonials if possible.
  • It also doesn’t hurt to cold call businesses. That is, visit businesses in the area and greet the people who work there, letting them know your services are available should they need them.


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