Getting Started in Tax Consulting [Paperback]

Gary W. Carter (Author)

Book Description

ISBN-10: 0471384542 | ISBN-13: 978-0471384540 | Publication Date: April 18, 2001 | Edition: 1

The Complete, Authoritative Guide to Getting Started in Tax Consulting

Tax consulting and return preparation is a fast-paced, dynamic industry-one that promises high earning potential. In this book, tax advisor Gary Carter shows you just what it takes to become an in-demand tax consultant. You'll discover how to break into the tax business, even with relatively limited education and training, and build a path to your new career with Carter's five-step formula for success. Brimming with expert advice from tax professionals and featuring up-to-the-minute coverage of everything from qualifications and employment opportunities to Internet resources, Getting Started in Tax Consulting shows you how to:
* Assess your personality fit for the tax profession
* Formulate your business plan for starting a tax practice
* Find a niche for your tax services
* Choose between a sole proprietorship, a partnership, a C corporation, an S corporation, and a limited liability company
* Set your fees and market your services
* Perform research-an essential skill of the tax professional
* Make the IRS your partner and advisor-not your adversary
* Start a Web-based tax service

Editorial Reviews

From the Back Cover

The Complete, Authoritative Guide to Getting Started in Tax Consulting

Tax consulting and return preparation is a fast-paced, dynamic industry–one that promises high earning potential. In this book, tax advisor Gary Carter shows you just what it takes to become an in-demand tax consultant. You’ll discover how to break into the tax business, even with relatively limited education and training, and build a path to your new career with Carter’s five-step formula for success. Brimming with expert advice from tax professionals and featuring up-to-the-minute coverage of everything from qualifications and employment opportunities to Internet resources, Getting Started in Tax Consulting shows you how to:

• Assess your personality fit for the tax profession
• Formulate your business plan for starting a tax practice
• Find a niche for your tax services
• Choose between a sole proprietorship, a partnership, a C corporation, an S corporation, and a limited liability company
• Set your fees and market your services
• Perform research–an essential skill of the tax professional
• Make the IRS your partner and advisor–not your adversary
• Start a Web-based tax service

About the Author

GARY W. CARTER, PhD, CPA, is Associate Director of the Masters of Business Taxation Program at the University of Minnesota. He has worked in public accounting with both a regional and a Big Five CPA firm, and was a state and revenue agent. Carter is also the author of Taxes Made Easy for Your Home-Based Business, Fourth Edition. He can be contacted through his Web site at www.thetaxguy.com

Product Details

• Paperback: 304 pages
• Publisher: Wiley; 1 edition (April 18, 2001)
• Language: English
• ISBN-10: 0471384542
• ISBN-13: 978-0471384540
• Product Dimensions: 9.3 x 6.2 x 0.8 inches
• Shipping Weight: 14.4 ounces (View shipping rates and policies)
• Average Customer Review: 3.9 out of 5 stars  See all reviews (14 customer reviews)
• Amazon Best Sellers Rank: #237,601 in Books (See Top 100 in Books)
  • #89 in Books > Business & Investing > Industries & Professions > Consulting

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Customer Reviews

Most Helpful Customer Reviews

32 of 34 people found the following review helpful:

5.0 out of 5 stars Excellent Book! Read It, Then Read It Again!, November 20, 2003

By A Customer

This review is from: Getting Started in Tax Consulting (Paperback)

Getting Started In Tax Consulting is an important book that every tax professional and aspiring tax professional needs to read-and reread. In fact, it is the only book of its kind that I have found. It doesn't matter if you want to participate in this industry as a CPA, attorney, or an enrolled practitioner-this book will help you reach your goals. The front flap claims the book provides "comprehensive coverage"-and I must say it really does. Since I purchased this book over one year ago, I have read it over one dozen times and I literally learn something new and useful every time. It is packed with advice and wisdom from the author's experiences which I believe would be beneficial to anyone involved in the professional services industry (not just tax consulting).

The author, Gary Carter, strikes me as a really smart yet down-to-earth guy who is clearly a leader in his chosen field. It seems Gary really took some considerable risk when he wrote this book because he discloses an extensive amount of information. I was surprised when he went into so much detail about his own "side" tax business and his personal business philosophies. Gary presents some really tough questions about the industry and those he interviews. And I mean he asks all the right questions-the important kinds of questions you and I really want to know. Best of all, Gary delivers thorough, candid, unbiased, and honest answers. Have you ever wondered any of the following?

What is it like being a tax consultant? What exactly do they do?
How will potential tax reform impact the industry and the livelihood of future tax professionals?
What are some of the pros and cons of developing competencies in tax as opposed to audit?
How much money can I make as a tax consultant?
What is the current and projected demand for tax consultants?
How can I participate (part-time, full-time, employed, self-employed, CPA, MBT, Attorney, etc.)? What education and experience do I need?
Can I build my own practice? How do I do this? What should I expect?
Which specialties within tax are hot right now?
What qualities do I need to be successful?
What are important trends in the tax industry? What factors are driving these trends?

Getting Started In Tax Consulting addresses these questions and much more. Gary goes into detail about things like the importance of developing a niche in the market and how to go about building your own tax practice. He provides examples and explanations that make a lot of sense. I especially like the last chapter, "Conversations with Six Tax Professionals." It provides a sort of Q&A with successful tax consultants from varied backgrounds and different specialties. If you can't relate to the author himself, you will certainly identify with the experiences of one of the folks in the last chapter.

I have never written a review for anything before, but I really think this is an important book-especially considering the current state of the economy. If nothing is certain but death and taxes, certainly many can provide a decent livelihood for themselves and their loved ones through tax consulting. After learning more about the field, I realized tax consulting represents an opportunity to deliver tremendous value to clients-savings that are often measurable and really appreciated. This book will show you how to do that and guide you every step of the way. I would recommend this book to everyone involved in tax consulting or even thinking about getting involved in accounting as a profession. If you know anyone in college, get them this book for Christmas. They might really thank you one day for opening their eyes to a gratifying career they might not otherwise learn about!

17 of 17 people found the following review helpful:

3.0 out of 5 stars GOOD STARTER BOOK WITH ENLIGHTENING INFO, May 5, 2002

By 

Laurie Artis "Enlightened & Inspired" (Raleigh, NC United States) - See all my reviews
(REAL NAME)   

This review is from: Getting Started in Tax Consulting (Paperback)

The best parts of this book are the chapters which discuss: the importance of having a niche in the tax industry, tax research, having a web-based tax service, tax education, roles of tax consultants( unenrolled tax practitioner, CPA, enrolled agent, and tax attorney), the IRS, and interviews with tax professionals. This book is very resourceful as far as supplying names and addresses of tax associations, tax software vendors, tax research sources, tax-related web sites, and CPA review courses.

I don't think the book was helpful when the author included a chapter on the types of business organziations (sole proprietorship, corportation, partnership, etc.)and 20 pages on tax history and tax reform. I think the author should have given more information as to how much the different types of tax consultants earned on average nationwide. I also wish the author would have rated and given a little bit more thorough information about the different tax associations, tax software vendors, tax web sites and CPA review courses. This would have made the book more resourceful.

However this book enlightens one who's interested in entering the tax consulting industry.

20 of 21 people found the following review helpful:

5.0 out of 5 stars Outstanding!, May 11, 2001

By A Customer

This review is from: Getting Started in Tax Consulting (Paperback)

I am starting a tax practice and this book was outstanding. The author gives much useful information with phone numbers and/or web sites. Saved me many hours of searching for the contact information. I hate it when a book advises you to do something then makes you look for the info.

The author covers all aspects of the tax business along with lots of info for setting up any small business. Goes over lots of details that I did not think of. .... I would have liked more case study examples also. But these comments aside, this book is a must-have if you are starting this type of business.