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$25K in 90 Days | Benefits of Obtaining an EFIN | Level 2
One of the biggest steps you can take toward building a real tax business is obtaining your own EFIN (Electronic Filing Identification Number). An EFIN allows you to become an IRS Authorized e-File Provider, meaning you can file tax returns directly with the IRS under your own business instead of waiting for someone else to review and transmit them. Right now many of you are preparing returns and waiting on me to review and e-file them. When you have your own EFIN, that changes everything. You control when returns are filed, your prep fees go directly to you, and you don’t have to wait for Friday payroll runs. It also allows you to grow a team of preparers under your EFIN, meaning you can earn additional revenue from every return filed through your office. ----------------------------------------------------------------------------------------------------------------- Benefits of Having Your Own EFIN ⚔ Become an IRS Authorized e-File Provider = File tax returns directly with the IRS. šŸš€ No Waiting for Reviews = You control when returns are transmitted. šŸ’° Prep Fees Go Directly to You = No waiting for someone else to run payroll. šŸ‘„ Grow Your Team = Add preparers under your EFIN. šŸ“Ø Earn E-File Fees = You collect the e-file fee on every return filed through your office. šŸ¢ Build Your Own Tax Business = Operate independently and scale your operation. Example of the Revenue Difference Let’s compare a new tax preparer using only a PTIN vs operating with their own EFIN. PTIN Only (Typical First-Year Tax Pro) šŸ“Š Average: 25 returns per year 25 clients Ɨ $300 prep fee= $7,500 That’s the total revenue. ----------------------------------------------------------------------------------------------------------------- With Your Own EFIN Year 1 25 clients Ɨ $300 prep fee = $7,50025 returns Ɨ $58 e-file fee = $1,450 šŸ’° Year 1 Total = $8,950 Year 2 (Client Growth) Your original 25 clients - 25 new clients 50 clients Ɨ $300 prep fee = $15,000 50 returns Ɨ $58 e-file fee = $2,900
$25K in 90 Days | Benefits of Obtaining an EFIN | Level 2
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GBC Marketing 360
Don't buy marketing systems off the street. Buy from me and get A. Cheaper Price B. Help setting up for free 1. Go High Level 360 Quick Start Only $47/month (CRM+Marketing+10 more tools) 2. Content Creator 360 one-time payment of $67 (Quicker Easer Setup)
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Extensions
Just a helpful reminder. Get a head start on all extensions! April 15th is coming up and waiting till the last minute can cause extreme stress! We have learned over the years that it really sucks trying to get all the extensions done on the 15th. So we are starting early this year to try and prevent so much stress! If you have clients that are procrastinating or still looking for documents or what ever their reason may be, reach out to them and discuss filing an extension. This will not take away any penalties for late payments (payments are due April 15th) but it will take away the late filing penalties (saving your clients money is a great way to gaining a forever client). Hope you have a beautiful blessed day!
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Due Diligence or Prison Time
Read this šŸ‘‡šŸ¾šŸ‘‡šŸ¾šŸ‘‡šŸ¾ https://share.google/Tuzn6J1VzJGPrOGRJ
Congrats Nathifa!!!!!!
Help me congratulate @Nathifa Jefferson Our number one student is also the first person from the class of 2025 to get her own EFIN!!!! ā­ļø prep fees directly deposited into her account with no waiting āœ… no more waiting for quality checks āœ… no more waiting for e-file approval āœ… no more waiting for tax prep commissions ā­ļø she can now add unlimited tax preparers ā­ļø sell memberships to her business or give it away ā­ļø collect the e-file fee āœ… brand new independent tax office in Texas āœ… establish her own rules and systems
Congrats Nathifa!!!!!!
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