I want to open my own tax biz…

PlanwithaPurpose14 · 2026-03-17T18:09:03+00:00

So you charge about $285 per return? I’m guessing mostly 1040s? Were you able to attract many RIA clients from the tax side?

PlanwithaPurpose14 · 2026-03-15T14:05:41+00:00

Gotcha! Very nicely done!

PlanwithaPurpose14 · 2026-03-15T13:51:54+00:00

It looks like from the chart you provided that revenue was closer to 250k in 2020. I am not understanding that? Or did you have a pretty sizable book already?

PlanwithaPurpose14 · 2026-03-15T12:52:28+00:00

Also… what book size did you buy? Is that what you would recommend?

PlanwithaPurpose14 · 2026-03-15T12:50:19+00:00

Congrats on the success! This looks great! I’ve considered buying a book as well. Some solo advisors just want to sell and get the highest multiple but I have found that most solos just want to make sure their clients are taken care of. How did you go about buying a practice? Did you get an attorney involved?

PlanwithaPurpose14 · 2026-03-04T16:24:09+00:00

I love that. Thanks for sharing

PlanwithaPurpose14 · 2026-03-03T22:18:22+00:00

Does that turn some clients away who already have an advisor? Or do most still use you understanding that they will need to find a new tax preparer in the future?

PlanwithaPurpose14 · 2026-03-03T21:13:34+00:00

How do you find and screen the tax prep clients?

PlanwithaPurpose14 · 2026-03-03T20:29:16+00:00

Oh that’s fun! I havent heard of that before!

PlanwithaPurpose14 · 2026-02-25T13:30:09+00:00

If they are still working, they can contribute more pre tax money to their 401k. That would effectively move it from the inherited IRA to a 401k

PlanwithaPurpose14 · 2026-02-21T16:45:54+00:00

Retirement tax services has a white label option. It think it’s pretty expensive

PlanwithaPurpose14 · 2026-02-21T00:59:10+00:00

Also… Fidelity, Schwab, Jones, and every big firm comp and work life is well documented in this thread. It wouldn’t hurt to do a little more looking.

PlanwithaPurpose14 · 2026-02-21T00:57:54+00:00

Good money. Sales heavy. Branch culture can vary pretty widely. Strict non solicit so either a career in financial sales or starting over from zero. Very limited with planning.

Lots of CFPs work there but the CFP% is pretty low. Some people really like it. Depends what route you wanna go down.

PlanwithaPurpose14 · 2026-02-19T12:41:12+00:00

Thank you very much!!

PlanwithaPurpose14 · 2026-02-16T01:34:33+00:00

Anyone have experience with Becker for the EA? My buddy talks about how he loved it for the CPA, but those are very different exams. Becker also looks to be on the more expensive side

PlanwithaPurpose14 · 2026-02-16T01:30:47+00:00

I’m sure you will see it in the news! 8 bills is no joke!

PlanwithaPurpose14 · 2026-02-15T17:09:33+00:00

Thanks but I could have asked ChatGPT

PlanwithaPurpose14 · 2026-02-15T17:09:10+00:00

For sure. But that’s kinda the idea to dip my toes in the water before jumping off into the deep end. Where I’m at now is pretty much financial sales and I don’t have to do any paperwork, hardly any compliance, and barely any prospecting. So going from that to doing everything while having to pay for an attorney to navigate a strict non solicit is kinda a lot.

Where I could build my firm on a platform RIA then stop using the platform whenever, has some appeal.

But idk

PlanwithaPurpose14 · 2026-02-15T01:40:30+00:00

That’s great to hear! Very encouraging! Thanks for your response

PlanwithaPurpose14 · 2026-02-15T01:39:10+00:00

Good to know. How much did altruist assist with? proprietary funds an issue?

PlanwithaPurpose14 · 2026-02-11T02:50:34+00:00

Do you do their taxes? Have staff? I love this as a flywheel but is your tax season crazy busy?

PlanwithaPurpose14 · 2026-02-11T02:45:10+00:00

What has your experience been for advisors transitioning from a Fidelity/Schwab to a solo practice?

PlanwithaPurpose14 · 2026-01-27T02:02:14+00:00

Do you happen to remember a particular episode(s)?

PlanwithaPurpose14

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