Small Business4u

I would like to start a career in tax prep. but on some the "big" websites it says 12 weeks for courses1 and 2 but then it says they prefer to hire graduates that took tax prep school program for nine weeks. Im confused?!?

You can take a tax prep class through H & R Block that typically runs for around 9 weeks. Then, if you want to actually work for them, they require that you do some additional training for a few weeks as well. Even H & R Block won't hire you directly from their tax course-what does that tell you? If this is something that you truly want to have a career in, I would suggest that you take the H & R Block course this fall, then send your resume around to some small public accounting firms just before tax season (like November or December). It won't pay that great since you're a "newbie", but it will give you invaluable insight as to what the real world of taxation is about.

Consider the following two scenarios.

1. Successful individual with six figure income and significant assets hires tax attorney/account to ensure every deduction and technique to reduce tax liability is explored and taken advantage.

2. Same situation as above but individual encounters serious financial downturn due to job loss or failed investments. Decides to exercise bankruptcy protection and hires attorney to ensure he is able to protect as many of his assets as possible and reduce financial liabilities as allowed by the legal process.

Both have acted legally. Is there an ethical difference between them? Is there an ethical duty to pay taxes as required by a democratically elected government? Is there an ethical duty to pay private debt? Is there a difference between the two?
Good answer; I ask because I recently heard an argument that people who use bankruptcy law to their advantage to resolve a financial problem are unethical or immoral.

Taxes are a legal requirement, regardless of moral or ethical boundaries. The law also provides a number of deductions to the personal income tax. If the taxpayer meets the criteria, then deduct as much as you can, it's the American way.

Bankruptcy is not required by law. It is however legal. One who practices bad business and intentionally leaves his debtors in the hole is morally and ethically wrong. But one who uses bankruptcy as it was intended is within their legal right.

What I fiind interesting is that people complain to the govt about taxes, but then demand the social programs and roads and schools.

I know nobody (Dem or Repub, rich or poor) who would be willing to pay debt that they don't have to. Bankruptcy allows them the latter option.

I just started working for a CPA and would like to know how to do tax and know the termonology better!

First of all, your employer MUST have tons of reading material for you to examine… Secondly, the IRS website (www.irs.gov) has literally hundreds of pages of tutorials for all types of tax filings. Lastly, look in your favorite book store for the "For Dummies" publications. There are several that deal with tax preparation.

Good Luck!

I graduated this past spring with bachelors in psychology and i want to do something with it. I am in grad. school right now and i currently work at a mental/behavioral hospital. i would like to start a life coach business, but i'm not sure what is required. I want to know, do I have enough education background to legally start the business and what other legal stuff will I need to know about? I live in ohio and I have looked on the gov’s. site for establishing a new business, but it is less than helpful.

I want to specialize in high school sports and self-esteem building workshops.

Thanks

jason

There are none. It's also incredibly competitive.

If you want to start that business, just do it. The most important factor will be your own promotional efforts. See if you can find the early-career stories of folks like Michel Fortin, who are slightly off the beaten path in the self-help game but still produce a decent bulk of material.

Also, educate yourself on it (obviously) — that's probably how you got the idea in the first place. See what the other marketers in your field are doing- particularly Jeffery Gitomer and Stephan Schiffman- to stay on top of their sphere. The industry of which you're speaking is surprisingly mature- you won't be able to take it by storm the way Anthony Robbins did in his youth- but it's far from dead.

If I were you I'd focus self-education in a direction which suits your desired image and personality- classicism for one particular sort of flair, sports for another. Just today I was reading Secret Formulas of the Wizard of Ads, wherein Williams probes the far reaches of history, literature, and- sigh, yes- psychology to bring us an amazing perspective on the world around us and how to divert its money toward us

Finally, my own personal hunch but I bet I could find people to back me on this- stop revving your engine and get into gear. Less school, more legwork. If you're serious about this then it should be no problem for you to burn some midnight oil and work up a quick folio of products/services to offer, then go sell somebody something! =)

If you haven't, also make SURE you've read The Little Red Book of Selling (Gitomer), E-Myth Master (Michael Gerber), one of Schiffman's "25" books or or Telesales, and at least one of David Ogilvy's major titles.

These geniuses of self-promotion and topical expertise will show you what works in the field you're attacking.

Also, consider myself an open-eared ally and email at your leisure.

Finally, cement your key connections by giving back- whether business, expertise, or personal synergy. Start by rating this answer the best =)

Thanks for all help and advice, my difficulty is that I am aiming at both corporate and individual clients and I want a name that targets both. Training and mediation - corporate. Individual coaching, counselling and hypnotherapy.

Venture Mediation
The Coaches

This is a great article about - How to Select a Company or Product Name - http://www.developer-resource.com/how-to-select-a-company-name.htm

The article has some good advice on how to research names, and what to becareful of.

Here are some tips on selecting a domain name http://www.small-business-software.net/choose-a-domain.htm

Should get you started!
Best of luck

i want to start my own sports coaching business but cant think of a name for it.
any ideas? ?

What exactly is the business?

Is it providing coaches for sports?
Is it providing coaches for individuals?
A store that has coaching resources - uniforms, tools of the trade, books on coaching, etc.?
Is this for all sports or specific sports?

Without knowing who your target customer is, I am not sure. How about:

Coaches' Corner
X's and O's
The Assistant Coach
Winning Ways

That's all I got

I am starting a business a little business on Amazon. How should I keep track of things for taxes? Any advice on how I should run things, or what software to use. Should I save receipts for the supplies I buy? Any advice on anything please. Thank you!

I suggest you keep all your receipts and track your income and expenses. Definitely keep your receipts (best if you separate business related receipts from your personal receipts)

You can use a simple Excel spreadsheet or use a more sophisticated accounting program such as Quicken for home office. An Excel will do just fine.

Here are things you can deduct and claim as business deduction in your Schedule C come tax time:

- Fees/Commissions Amazon charges you for selling
- Internet access
- Shipping expenses such as postage/stamps, shipping boxes or mailers
- Promotion and advertising expenses you are running
- Office supplies such as papers, pens, calculators
- Equipment such as computers, scanners, fax machines, camera and other equipment you used to run your business
- Gasoline expenses for going to and fro the post office to ship your items
- Books and magazine subscriptions you bought for your business

I suggest you read books such as:

- Deduct It! Lower Your Small Business Taxes, Second Edition Paperback by Stephen Fishman
- J.K. Lasser's Taxes Made Easy for Your Home Based Business, 5th Edition Paperback by Gary W. Carter

Basically what kind of report/document would you create to show potential customers/investors/dealers when starting a new business and What would it generally contain?

It would explain what the company is going to do , say manufacturing. Break down all requirements for cost of location, tooling, supplies, staffing, product/ products involved, market strategy, advertising, all related costs. A complete break down of where the dollars are going. A projection of sales. It should contain as many facts and figures that you can provide. Graphs, charts, and a prospectus will all be part of the presentation. The more comprehensive the better. A small stack of orders from customers waiting for your product would be a coup.

When starting a business better to use home address or get a actual business address with location? I heard that it is better to get a actual business address for credit reasons and also for privacy?

Jordan1call
Its better to get a actual business address for credit reasons and also for privacy.

What, in your opinion, is a entrepreneur? What are his/her characteristics? What factors of their personality distinguish them as such?

Also what is NOT entrepreneurship? What are some of the myths about entrepreneurs that you see.

An entrepreneur is someone who has a great idea for a new business and works hard enough and is lucky enough to secure backing to start and run a successful business on their own terms. Usually an entrepreneur is an out going, intelligent person with loads of focus and drive.

A person who inherits everything or has it all handed to them is not an entrepreneur.