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How much should I expect to make?

How much could one REASONABLY expect to make preparing taxes as an Enrolled Agent?

  • I'm trying to get an idea how much can be made, and how much is usually made, in a tax season (NOT all year) working with the major firms (H&R Block, Liberty, etc.). How about working independently? Is it really possible to make enough working only the four months of tax season to take the rest of the year off? What kind of productivity (i.e., how many returns would you have to do) is necessary if it is indeed possible?

  • Answer:

    With your own practice you can make a modest living working just tax season but somehow fielding questions the rest of the year. When I did this I worked 92 hours a week and prepared over 700 tax returns myself. The rest of the year I supplemented my income with investment properties (rentals).

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The major companies do a draw versus commission, and it's a % of their completed refunds: Draw versus commission generally works in the following way. The employee is paid a flat fee or bottom line salary for his/her work. In retail positions this salary is usually close to minimum wage. In order to boost the salary, employees are given sales goals to meet within a specific time period. If they meet or exceed these sales goals, they are either paid in straight commission, which is more than their draw salary or base salary, or are given a percentage of their sales on top of their draw salaries. The whole point of becoming an enrolled agent is to practice before the IRS - and that's usually not during tax season. http://www.naea.org/memberportal/Resources/ForTaxpayers/whatis_EA.htm

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