u/Potential_Band5

Hey all, do you think now is a good time to start a tax preparation business? I am apart of a family business that has been doing individual tax prep and business returns. I am studying for my EA to join the business and hopefully obtain clients myself. However, I always hear the negativity about the future in AI software and that people won’t need tax preparers anymore… also, everyone says shift into advisory but there isn’t much advising anymore with middle/middle upper class taxpayers.
My question is, is it worth my time to learn and start a business in tax prep and almost be a 1040 mill?

Any updates or future predictions with tax prep and AI?

Any updates or future predictions with tax prep and AI?

Heard about all the layoffs… do you all think this will help small businesses tax prep firms or will this hurt them too?

Hey all, been using this chat a lot to hear about opinions on the future of tax preparation. My question is, should I even bother opening up a tax preparation business and focus on individual 1040 returns? Everywhere I look it’s “advisory this” or “planning that”. Is it true that tax compliance is dead?
Also with book keeping, should I even bother learning it or is it fully AI and automation?

I’ve been studying for EA exam part 1 for 4 months now because I’m nervous to take it, fail, and waste money. I have about 200+ hours of study time on Becker. How do I know I’m ready for the EA exam part 1?

Been studying for my EA exam but losing confidence in the future of compliance tax preparation and accounting service business. It’s hard for me not to believe AI will replace tax preparation and tax strategy in 5-10 years. Is building this business still worth pursuing?

Ive been using Becker to study for part 1 of EA. Has anyone used it and passed? And are the MCQs harder than the actual exam?

Been studying for my EA exam but losing confidence in the future of compliance tax preparation and accounting service business. It’s hard for me not to believe AI will replace tax preparation and tax strategy in 5-10 years. Is building this business still worth pursuing?