I will open my business this coming year and already have my efin# I called IRS to ask what else is required I live in CA. They could not tell me I was on the phone for an hour with them and nobody knows-any help would be appreciated.Trishtrishlanderson@yahoo.com
>>I called IRS to ask what else is required<<
The IRS does not have any eligibility requirements for preparing taxes as a professional (except those related to e-file), although it does have standards of practice that you must comply with.
The California Franchise Tax Board requires you to register, pass a course and post a performance bond.
Your local city or county may require a business license. Your insurance company may require a business rider.
thank you Jainin, I appreciate the information I also found out about getting licensed through Ctec I think that involves the 60 hour course that is needed-Just finding out bits and pieces here
If you were an enrolled agent, you would not need state licensing. Be sure that you have a city business license. If working from home, you many need to get signatures from your neighbors stating that they do not object to your having a business at home.
We have worked from home for many years; the neighbors to not object.
For e-filing, we use Intuit as the transmitter since it is much easier than transmitting direct.
The Proseries package has a module for e-filing.
If you are inexperienced in tax preparation, then I would suggest that you start with relatively simple returns that do not involve complex transactions.
Good luck in your endeavors.
Marion
Thank you so much I appreciate any information I can get.
Trish :)
