Tax Preparation Business Plan Template

Written by Dave Lavinsky

tax preparation business plan template
Table of Contents
Table of Contents

If you’re looking to create a tax preparation business plan, you’ve come to the right place!

Over the past 25 years, the PlanPros team has helped over 1 million entrepreneurs and business owners write business plans….and many of them have started and grown successful tax preparation businesses. Our tax preparation business plan example below is sure to help you!

Tax Preparation Business Plan Example

Below is our tax preparation business plan template and sample plan created using our business plan generator:

I. Executive Summary

Company Overview

Our company, Secure Ledger Tax Advisors, is the newest tax preparation service located in Rohnert Park, CA, where we aim to provide the community with reliable and affordable tax services. With a focus on excellence and customer care, we offer individual tax preparation for $200, business tax services for $350, e-filing for $35, and comprehensive tax planning and consulting for $800. Our physical presence in Rohnert Park allows us to offer personalized services tailored to the specific tax needs of our customers, ensuring precision and care in every interaction.

Success Factors

At Secure Ledger Tax Advisors, our success is driven by the extensive experience of our founder and a skilled, dedicated team that ensures our services stand out in Rohnert Park. Since our inception on January 6, 2024, as a C Corporation, we’ve developed a strong brand identity, secured a prime location, and committed ourselves to provide high-quality tax services. These achievements, combined with our focus on quality and client satisfaction, position us as the premier tax advisory firm in our community.

Industry Analysis

The Tax Preparation industry in the U.S. is robust, with a market size of $10.2 billion in 2020 and an expected CAGR of 5.2% from 2021 to 2028. The industry’s growth is fueled by complex tax regulations, the rise of self-employment, and increasing income levels. Secure Ledger Tax Advisors stands to benefit from the trend towards digital tax solutions and the growing demand for expert tax advice. Our online tax preparation services and personalized approach position us to capitalize on these industry shifts and establish ourselves as a trusted provider in Rohnert Park, CA.

Customer Analysis

We at Secure Ledger Tax Advisors target Rohnert Park residents, families, small business owners, freelancers, and remote workers, offering them personalized tax services tailored to their unique financial situations. Our expertise in small business accounting and tax laws ensures that we provide valuable support to entrepreneurs, building long-term relationships. As the workforce evolves, we’re prepared to address the challenges faced by freelancers and remote workers, making us a proactive partner in managing complex tax situations.

Competitive Analysis

Our competitors include Deanna Elrod’s Tax Service, known for personalized services, H&R Block with its brand recognition and extensive network, and STAG Tax and Accounting with specialized knowledge. We distinguish ourselves through our meticulous approach, ensuring clients benefit from available tax deductions and savings. Our highly skilled team, including CPAs and Enrolled Agents, and our commitment to staying updated on tax laws provide us with a competitive edge, establishing us as a trusted financial partner.

Marketing Plan

Secure Ledger Tax Advisors offers a range of tax services including individual tax preparation at $200, business tax preparation at $350, e-filing for $35, and tax planning and consulting at $800. We are dedicated to providing exceptional value and convenience to our clients in Rohnert Park and beyond, ensuring they can navigate their tax affairs with ease.

Our promotional strategy encompasses online marketing through SEO, email campaigns, and PPC advertising, while also engaging with the local community through events and partnerships. A referral program will incentivize word-of-mouth, and we will focus on client retention and satisfaction. Public relations efforts will further our reputation as tax preparation leaders in our area.

Operations Plan

Our day-to-day operations at Secure Ledger Tax Advisors include client onboarding, appointment scheduling, and maintaining clear communication. We prioritize data security, rigorous document management, and compliance with tax laws. By investing in our staff’s training and employing robust financial management, we enhance our service quality and efficiency. Upcoming milestones include obtaining business licenses, securing a physical location, developing cybersecurity infrastructure, launching a marketing campaign, and achieving a target revenue of $15,000 per month.

Management Team

Leading Secure Ledger Tax Advisors is President Savannah Wood, whose vast experience in tax preparation business leadership equips her with the strategic insight needed to navigate the sector. Her ability to blend tax law knowledge with business acumen positions us to deliver exceptional tax advisory services and solidify lasting client relationships.

Financial Plan

To achieve our growth goals, Secure Ledger Tax Advisors requires $106,000 in funding. This will be allocated across various capital and non-capital investments such as location buildout, equipment, working capital, staff salaries, initial marketing, and more, ensuring the successful launch and operation of our firm.


Below is an overview of our expected financial performance over the next five years:

FY 1 FY 2 FY 3 FY 4 FY 5
Revenues $7,419,934 $8,034,528 $8,700,029 $9,420,654 $10,200,969
Direct Expenses $3,668,064 $3,854,935 $4,051,325 $4,257,722 $4,474,633
Gross Profit $3,751,869 $4,179,593 $4,648,703 $5,162,932 $5,726,336
Gross Profit (%) 50.6% 52% 53.4% 54.8% 56.1%
Other Expenses $103,153 $106,282 $109,507 $112,829 $116,252
EBITDA $3,648,716 $4,073,310 $4,539,196 $5,050,102 $5,610,083
Depreciation $9,000 $9,000 $9,000 $9,000 $9,000
Amortization $0 $0 $0 $0 $0
Interest Expense $10,600 $10,600 $10,600 $10,600 $10,600
Income Tax Expense $1,270,190 $1,418,798 $1,581,858 $1,760,676 $1,956,669
Net Income $2,358,925 $2,634,911 $2,937,737 $3,269,826 $3,633,814


II. Company Overview

At Secure Ledger Tax Advisors, we are proud to establish ourselves as the latest Tax Preparation service in Rohnert Park, CA. We understand the community’s need for reliable and affordable tax services, and we are here to fill that void. As a local business, our primary goal is to offer unparalleled service to our neighbors and fellow residents.

Our Products & Services

We offer a comprehensive suite of tax-related services to meet the diverse needs of our clients. Our individual tax preparation services are competitively priced at $200, ensuring personal attention and accuracy for your filings. For businesses, our tax preparation service is available at $350, providing the expertise needed to handle complex business tax scenarios. To streamline the filing process, we also offer Electronic Filing (e-filing) for a nominal fee of $35. In addition, our tax planning and consulting services, available at $800, are designed to optimize your tax strategy and improve your financial health for the long term.

Our Location

Our home base is in Rohnert Park, CA, and we are dedicated to serving customers right here in our community. We are committed to being readily accessible to our clients, ensuring convenience and personal service.

Why We Will Succeed

Our success is built on a foundation of expertise and service excellence. The founder brings a wealth of experience from running a successful tax preparation business, ensuring that Secure Ledger Tax Advisors is equipped to handle your tax needs with professionalism. Our team’s high skill level and experience mean that we provide superior tax preparation services when compared to our competitors. Our commitment to excellence is unwavering, and our clients’ satisfaction remains our top priority.

Our Journey So Far

Since our founding on January 6, 2024, Secure Ledger Tax Advisors has taken significant strides as a C Corporation. We’ve successfully developed a unique company name, designed a distinctive logo, and secured a prime location for our operations. Each accomplishment has been a step towards positioning ourselves as a leading tax advisory firm in Rohnert Park, CA.


III. Industry Analysis

The Tax Preparation industry in the United States is a significant and thriving market. According to recent data, the industry generated approximately $10.2 billion in revenue in 2020. This impressive size of the market highlights the importance of tax services for individuals and businesses alike. Furthermore, the market is expected to experience substantial growth in the coming years.

Projections indicate that the Tax Preparation industry will continue to expand steadily over the next five years. The market is estimated to grow at a compound annual growth rate (CAGR) of 4.6% between 2021 and 2026. This growth is attributed to various factors, including an increasing number of individuals seeking professional assistance to navigate the complex tax landscape and changing tax regulations. With such positive market growth prospects, the Tax Preparation industry presents an attractive opportunity for businesses in this sector.

Secure Ledger Tax Advisors, as a new Tax Preparation service provider in Rohnert Park, CA, is well-positioned to capitalize on the favorable trends within the industry. Notably, there is a growing demand for personalized and tailored tax services that cater to individual needs. Customers are increasingly seeking trusted professionals who can provide expert advice and ensure compliance with tax laws while maximizing deductions and minimizing liabilities. Secure Ledger Tax Advisors’ commitment to delivering high-quality services and their location in a vibrant business hub like Rohnert Park, CA, make them well-suited to meet the evolving needs of the local market and establish a strong presence in the Tax Preparation industry.


IV. Customer Analysis

Below is a description of our target customers and their core needs.

Target Customers

Secure Ledger Tax Advisors will target the local residents of Rohnert Park, CA, a diverse community that encompasses individuals and families in need of tax preparation services. Given the mixture of professionals, small business owners, and retirees in the area, the firm will tailor its services to cater to a wide range of personal and business tax requirements. The company will leverage its expertise to offer comprehensive tax solutions that are particularly appealing to the local demographic.

The firm will also focus on the burgeoning population of freelancers and remote workers, who often face unique tax challenges due to their non-traditional employment structures. As the gig economy continues to grow, Secure Ledger Tax Advisors is positioned to become a trusted resource for independent contractors seeking tax advice and compliance assistance. They will provide specialized services that address the complexities of self-employment taxes, deductions, and credits.

In addition to the aforementioned segments, Secure Ledger Tax Advisors will extend its services to students attending local colleges and universities. These younger clients often require assistance with filing their first tax returns or managing education-related deductions and credits. The firm will offer tailored guidance to ensure that student clients understand their tax obligations and benefit from all applicable tax advantages.

Customer Needs

Secure Ledger Tax Advisors caters to residents who seek dependable tax preparation services, ensuring accuracy and compliance with the latest tax laws and regulations. Clients can expect a thorough understanding of their financial situation, enabling personalized and strategic tax planning. The primary need for reliability is met through meticulous attention to detail and up-to-date knowledge of tax codes.

Aside from the essentials of tax preparation, customers can also find convenience and peace of mind. Secure Ledger Tax Advisors streamlines the process with easy appointment scheduling and clear communication, reducing the stress commonly associated with tax season. Clients have access to experts who can demystify complex tax situations, allowing them to make informed decisions about their finances.

Moreover, Secure Ledger Tax Advisors understands the importance of security in handling sensitive financial information. Clients can trust that their data is protected with the highest standards of confidentiality and cybersecurity measures. This commitment to security builds a foundation of trust, which is crucial for a long-term professional relationship.


V. Competitive Analysis

Direct Competitors

Secure Ledger Tax Advisors’s competitors include the following companies:

Deanna Elrod’s Tax Service

Deanna Elrod’s Tax Service offers personalized tax preparation and planning services. They cater to individual taxpayers and small businesses, providing them with a variety of services such as income tax filing, tax planning, and IRS audit assistance. The price points for their services vary depending on the complexity of the tax situation, with a focus on competitive rates to attract cost-conscious clients.

The company operates primarily in the local area, serving the Rohnert Park community and surrounding regions. Deanna Elrod’s Tax Service prides itself on its personalized approach and extensive knowledge of local tax regulations. However, its reach is limited geographically, which may be a weakness when competing with larger firms that have a broader presence.

H&R Block

H&R Block is a well-known national tax preparation company that offers a wide range of products and services. These include in-office tax preparation, online tax filing software, and additional financial services such as refund advances and audit defense. Their prices are tiered based on the service level, making them accessible to a broad range of customers.

H&R Block reports significant annual revenues, which reflects its expansive network of locations and large customer base. They serve customers across the United States, including those in Rohnert Park, CA. A key strength of H&R Block is its brand recognition and established reputation, but a potential weakness is the less personalized service due to its size.

STAG Tax and Accounting

STAG Tax and Accounting focuses on providing tax services and financial consulting to individuals and small to medium-sized businesses. Their offerings include tax preparation, bookkeeping, payroll services, and business consulting. Their pricing structure is designed to be competitive, aiming to provide value to their clients.

The company operates primarily within the local market, which allows them to maintain a strong relationship with their client base. STAG Tax and Accounting is known for its tailored service and expertise in complex tax matters. While they have a strong understanding of local tax issues, their limited geographical reach could be seen as a weakness when compared to national chains.

Competitive Advantages

At Secure Ledger Tax Advisors, we understand that navigating tax laws can be complex and overwhelming. Our commitment to providing superior tax preparation services sets us apart from competitors. We leverage the latest tax software and technologies to ensure accuracy and efficiency, allowing us to optimize returns and minimize liabilities for our clients. Equipped with up-to-date knowledge on ever-changing tax regulations, we offer personalized advice tailored to each client’s unique financial situation. This attention to detail and precision reflects our dedication to excellence and positions us as a trusted partner in our clients’ financial well-being.

Our highly skilled and experienced team is the backbone of Secure Ledger Tax Advisors. Each member brings a wealth of knowledge and expertise, which translates into comprehensive tax strategies for our clients. We actively invest in continuous education and training to stay ahead of industry trends, ensuring that we can navigate even the most complex tax scenarios. Our proactive approach to tax planning means we can identify opportunities that may save our clients money in the long run. With a strong emphasis on customer service, we establish lasting relationships with our clients, who can rely on us for reliable and expert tax advice year after year.


VI. Marketing Plan

Our marketing plan, included below, details our products/services, pricing and promotions plan.

Products, Services & Pricing

Individual Tax Preparation

Secure Ledger Tax Advisors offers comprehensive Individual Tax Preparation services designed to assist clients in navigating the complex world of personal taxes. Their experienced team ensures accuracy and maximizes potential refunds or minimizes liabilities, all for an average price of $200. This service is tailored to cater to the unique circumstances of each client, ensuring a personalized approach to tax filing.

Business Tax Preparation

For businesses of varying sizes, Secure Ledger Tax Advisors provides Business Tax Preparation services. Understanding the intricacies of business tax codes, their professionals help companies maintain compliance and optimize their tax strategy. These services are available for an average fee of $350, a competitive rate for the peace of mind and expertise offered.

Electronic Filing (e-filing)

In the digital age, speed and efficiency are paramount. Secure Ledger Tax Advisors facilitates this through their Electronic Filing (e-filing) service. E-filing ensures that tax returns are submitted promptly, and clients can expect faster processing times for their refunds. This convenience is available for a nominal fee of $35, allowing clients to benefit from a swift and secure tax filing process.

Tax Planning and Consulting

The firm’s Tax Planning and Consulting service is aimed at individuals and businesses seeking forward-looking strategies to manage their taxes. The service includes a deep dive into the client’s financial situation to identify opportunities for tax savings and strategic planning for future tax years. At an average price of $800, clients receive tailored advice that can lead to significant long-term benefits.

Promotions Plan

Secure Ledger Tax Advisors understands the importance of a comprehensive promotional strategy to attract customers in the competitive tax preparation market of Rohnert Park, CA. The company’s primary focus will be on building a robust online marketing presence to connect with potential clients.

Online Marketing

To begin with, Secure Ledger Tax Advisors will establish a professional website, serving as the digital storefront for the business. The website will feature user-friendly navigation, essential information on services offered, and will be optimized for search engines (SEO) to ensure high visibility in search results related to tax preparation services in Rohnert Park, CA.

Alongside the website, the firm will manage active social media profiles on platforms such as LinkedIn, Facebook, and Twitter, engaging with the community and sharing valuable tax tips to build trust and authority in the field. Social media advertising campaigns will be executed to target local individuals and businesses that may require tax services.

Email marketing campaigns will also be a critical component, providing subscribers with seasonal tax-filing reminders, updates to tax laws, and exclusive offers designed to convert leads into clients.

Community Engagement and Partnerships

Secure Ledger Tax Advisors will also seek to engage with the local community through participation in events and partnerships with local businesses. Hosting free tax workshops and seminars will position the firm as a knowledgeable and helpful resource within the community.

Referral Program

To leverage word-of-mouth, a referral program will be introduced, rewarding existing customers for referring new clients, thus creating a network of personal endorsements that will expand the customer base.

Local Advertising

Local advertising will complement online efforts, with advertisements placed in regional newspapers, local radio stations, and community bulletin boards. Targeted direct mail campaigns will send out promotional materials to Rohnert Park residents, offering introductory rates and highlighting the benefits of choosing Secure Ledger Tax Advisors.

Client Reviews and Testimonials

Recognizing the power of social proof, the firm will encourage satisfied customers to leave positive reviews on platforms such as Google My Business and Yelp. These testimonials will serve to reassure potential clients of the quality and reliability of the services provided.

Loyalty Discounts

Finally, Secure Ledger Tax Advisors will offer loyalty discounts to repeat customers, acknowledging their continued business and encouraging them to remain with the firm for future tax preparation needs.

By implementing these promotional methods and tactics, Secure Ledger Tax Advisors will effectively attract customers and establish a strong presence in the Rohnert Park community.


VII. Operations Plan

Our Operations Plan details:

  1. The key day-to-day processes that our business performs to serve our customers
  2. The key business milestones that our company expects to accomplish as we grow


Key Operational Processes

To ensure the success of Secure Ledger Tax Advisors, there are several key day-to-day operational processes that we will perform:

  • Client Onboarding: Efficiently gather client information, including previous tax returns, personal identification, and financial records, to establish a comprehensive client profile.
  • Appointment Scheduling: Utilize a reliable scheduling system to manage appointments, ensuring clients can easily book, modify, or cancel meetings as needed.
  • Communication: Maintain consistent and clear communication channels with clients, providing updates on tax filing status, requesting additional documentation, and answering inquiries.
  • Data Security: Implement stringent data protection measures to safeguard sensitive client information against unauthorized access, breaches, and cyber threats.
  • Document Management: Organize and store tax documents, both physical and digital, with a focus on accessibility and compliance with regulatory requirements.
  • Regulatory Compliance: Stay up-to-date with federal, state, and local tax laws to ensure accurate tax preparation and compliance on behalf of clients.
  • Quality Assurance: Regularly review tax filings before submission to identify and correct any errors or inconsistencies.
  • Training and Development: Provide ongoing education and training to staff to maintain proficiency in tax software and current tax legislation.
  • Financial Management: Monitor the firm’s own finances, including invoicing, expense tracking, and budgeting to maintain healthy cash flow and profitability.
  • Client Education: Offer resources and guidance to clients to improve their understanding of tax-related matters and foster financial literacy.
  • Feedback Collection: Collect and analyze client feedback to identify areas for service improvement and to adapt services to better meet client needs.
  • Marketing and Outreach: Execute marketing strategies to attract new clients and retain existing ones, including social media engagement, community involvement, and networking events.
  • Technology Optimization: Regularly evaluate and upgrade tax preparation software and office technologies to enhance efficiency and service quality.
  • Professional Networking: Engage with other tax professionals and industry associations to stay informed of best practices and emerging trends.


Secure Ledger Tax Advisors expects to complete the following milestones in the coming months in order to ensure its success:

  • Obtain necessary business licenses and tax preparer certifications specific to California’s regulations to legally offer tax preparation services.
  • Establish a physical office location in Rohnert Park, CA to serve as a base of operations and client consultation space.
  • Develop and launch a user-friendly and secure website that allows clients to learn about services, book appointments, and upload confidential documents safely.
  • Implement robust cybersecurity measures to protect client data and comply with legal standards, reducing the risk of data breaches and enhancing client trust.
  • Hire and train qualified tax professionals who are adept with local, state, and federal tax laws to ensure accurate and efficient tax preparation services.
  • Set up an efficient client management system to track client information, appointments, and document submissions, which improves service delivery and reduces errors.
  • Create strategic marketing campaigns targeting Rohnert Park residents and nearby communities to build brand awareness and attract initial customers.
  • Establish partnerships with local businesses and financial institutions to gain referrals and widen the customer base.
  • Launch the tax preparation services officially, providing promotional offers to early customers to stimulate business growth.
  • Achieve a steady flow of clientele to reach $15,000/month in revenue within the first 18-24 months of operation.


VIII. Management Team

Our management team has the experience and expertise to successfully execute on our business plan.

Management Team Members

Secure Ledger Tax Advisors management team, which includes the following members, has the experience and expertise to successfully execute on our business plan:

Savannah Wood, President

Savannah Wood, President of Secure Ledger Tax Advisors, brings a wealth of experience and a proven track record of success to the company. With her extensive background in tax preparation and business management, Savannah has previously demonstrated her capability by successfully running a tax preparation business. Her experience in the industry equips her with the insight and knowledge necessary to lead Secure Ledger Tax Advisors. Her strategic vision and leadership skills are pivotal in guiding the company towards achieving its goals and ensuring that clients receive exceptional tax advice and services.


IX. Financial Plan


Below is an overview of our expected financial performance over the next five years:

FY 1 FY 2 FY 3 FY 4 FY 5
Revenues $7,419,934 $8,034,528 $8,700,029 $9,420,654 $10,200,969
Direct Expenses $3,668,064 $3,854,935 $4,051,325 $4,257,722 $4,474,633
Gross Profit $3,751,869 $4,179,593 $4,648,703 $5,162,932 $5,726,336
Gross Profit (%) 50.6% 52% 53.4% 54.8% 56.1%
Other Expenses $103,153 $106,282 $109,507 $112,829 $116,252
EBITDA $3,648,716 $4,073,310 $4,539,196 $5,050,102 $5,610,083
Depreciation $9,000 $9,000 $9,000 $9,000 $9,000
Amortization $0 $0 $0 $0 $0
Interest Expense $10,600 $10,600 $10,600 $10,600 $10,600
Income Tax Expense $1,270,190 $1,418,798 $1,581,858 $1,760,676 $1,956,669
Net Income $2,358,925 $2,634,911 $2,937,737 $3,269,826 $3,633,814

Funding Requirements/Use of Funds

To accomplish our growth goals, Secure Ledger Tax Advisors needs $106,000 in funding. Key uses of this funding will be as follows:

Capital Investments
Building/Location Buildout $30,000
Furniture $5,000
Equipment, Machines and Computers $10,000
Non Capital Investments
Working Capital $20,000
Initial Rent/Lease $3,000
Staff Salaries (3 Months) $30,000
Initial Marketing and Advertising $5,000
Supplies $1,000
Insurance $2,000

Financial Projections

financial projection tax preparation business plan

5 Year Annual Income Statement

FY 1 FY 2 FY 3 FY 4 FY 5
Revenues $7,419,934 $8,034,528 $8,700,029 $9,420,654 $10,200,969
Total Revenues $7,419,934 $8,034,528 $8,700,029 $9,420,654 $10,200,969
Direct Costs
Direct Costs $3,668,064 $3,854,935 $4,051,325 $4,257,722 $4,474,633
Total Direct Costs $3,668,064 $3,854,935 $4,051,325 $4,257,722 $4,474,633
GROSS PROFIT $3,751,869 $4,179,593 $4,648,703 $5,162,932 $5,726,336
GROSS PROFIT % 50.6% 52% 53.4% 54.8% 56.1%
Other Expenses
Salaries $72,814 $75,023 $77,299 $79,644 $82,060
Marketing Expenses $6,067 $6,251 $6,441 $6,637 $6,838
Rent/Utility Expenses $6,067 $6,251 $6,441 $6,637 $6,838
Other Expenses $18,203 $18,755 $19,324 $19,911 $20,515
Total Other Expenses $103,153 $106,282 $109,507 $112,829 $116,252
EBITDA $3,648,716 $4,073,310 $4,539,196 $5,050,102 $5,610,083
Depreciation $9,000 $9,000 $9,000 $9,000 $9,000
Amortization $0 $0 $0 $0 $0
EBIT $3,639,716 $4,064,310 $4,530,196 $5,041,102 $5,601,083
Interest Expense $10,600 $10,600 $10,600 $10,600 $10,600
PRETAX INCOME $3,629,116 $4,053,710 $4,519,596 $5,030,502 $5,590,483
Net Operating Loss $0 $0 $0 $0 $0
Use of Net Operating Loss $0 $0 $0 $0 $0
Taxable Income $3,629,116 $4,053,710 $4,519,596 $5,030,502 $5,590,483
Income Tax Expense $1,270,190 $1,418,798 $1,581,858 $1,760,676 $1,956,669
NET INCOME $2,358,925 $2,634,911 $2,937,737 $3,269,826 $3,633,814
Net Profit Margin (%) 31.8% 32.8% 33.8% 34.7% 35.6%

5 Year Annual Balance Sheet

FY 1 FY 2 FY 3 FY 4 FY 5
Cash $2,112,109 $4,719,394 $7,625,951 $10,877,560 $14,367,709
Other Current Assets $636,900 $689,654 $746,779 $785,054 $850,080
Total Current Assets $2,749,009 $5,409,049 $8,372,730 $11,662,615 $15,217,790
Intangible Assets $0 $0 $0 $0 $0
Acc Amortization $0 $0 $0 $0 $0
Net Intangibles $0 $0 $0 $0 $0
Fixed Assets $45,000 $45,000 $45,000 $45,000 $45,000
Accum Depreciation $9,000 $18,000 $27,000 $36,000 $45,000
Net fixed assets $36,000 $27,000 $18,000 $9,000 $0
Preliminary Exp $0 $0 $0 $0 $0
TOTAL ASSETS $2,785,009 $5,436,049 $8,390,730 $11,671,615 $15,217,790
Current Liabilities $320,083 $336,211 $353,155 $364,212 $382,573
Debt outstanding $106,000 $106,000 $106,000 $106,000 $0
Total Liabilities $426,083 $442,211 $459,155 $470,212 $382,573
Share Capital $0 $0 $0 $0 $0
Retained earnings $2,358,925 $4,993,837 $7,931,575 $11,201,402 $14,835,216
Total Equity $2,358,925 $4,993,837 $7,931,575 $11,201,402 $14,835,216
TOTAL LIABILITIES & EQUITY $2,785,009 $5,436,049 $8,390,730 $11,671,615 $15,217,790

5 Year Annual Cash Flow Statement

FY 1 FY 2 FY 3 FY 4 FY 5
Net Income (Loss) $2,358,925 $2,634,911 $2,937,737 $3,269,826 $3,633,814
Change in Working Capital ($316,816) ($36,626) ($40,180) ($27,218) ($46,665)
Plus Depreciation $9,000 $9,000 $9,000 $9,000 $9,000
Plus Amortization $0 $0 $0 $0 $0
Net Cash Flow from Operations $2,051,109 $2,607,285 $2,906,557 $3,251,608 $3,596,149
Fixed Assets ($45,000) $0 $0 $0 $0
Intangible Assets $0 $0 $0 $0 $0
Net Cash Flow from Investments ($45,000) $0 $0 $0 $0
Cash from Equity $0 $0 $0 $0 $0
Cash from Debt financing $106,000 $0 $0 $0 ($106,000)
Net Cash Flow from Financing $106,000 $0 $0 $0 ($106,000)
Net Cash Flow $2,112,109 $2,607,285 $2,906,557 $3,251,608 $3,490,149
Cash at Beginning of Period $0 $2,112,109 $4,719,394 $7,625,951 $10,877,560
$2,112,109 $4,719,394 $7,625,951 $10,877,560 $14,367,709


What Is a Tax Preparation Business Plan?

A tax preparation business plan is a document that outlines the strategies you have developed to start and/or grow your tax preparation business. Among other things, it details information about your industry, customers and competitors to help ensure your company is positioned properly to succeed. Your tax preparation business plan also assesses how much funding you will need to grow your business and proves, via your financial forecasts, why the business is viable.

Why You Need a Business Plan for your Tax Preparation Business

A business plan is required if you are seeking funding for your tax preparation business. Investors and lenders will review your plan to ensure it meets their criteria before providing you with capital. In addition, a tax preparation business plan helps you and your team stay focused. It documents the strategies you must follow and gives you financial projections you should strive to achieve and against which you can judge your performance.

Tax Preparation Business Plan Template PDF

Download our Tax Preparation Business Plan PDF to help guide you as you create your business plan for your own tax preparation business.

Over the past 25 years, Dave Lavinsky, Founder of PlanPros has helped over 1 million entrepreneurs develop business plans.
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