When COVID-19 struck, the majority of businesses were forced to operate remotely. Millions of business owners learned to adapt and began to see the benefits of outsourcing tasks that were previously done in-house.

Then, The Perfect Storm of Opportunity for bookkeepers, accountants, and tax preparers in the United States which has been developing over decades was accelerated by the pandemic. Business owners became accepting and willing to assign important financial tasks to individuals whom they had never met in person. The “know, like, and trust” factors were finally being accomplished virtually.

The pandemic also created “The Great Resignation,” where over four million brick-and-mortar workers have left the job market to either freelance or start their own businesses and realize the freedom working from home brings.

Shortage of Accountants/Tax Preparers

There are over 30 million businesses in the United States, with over 28 million having between 0–5 employees. There are only about 150,000 tax preparers; that’s over 180 businesses for every tax preparer; that’s if every preparer had their own practice, but in reality, they don’t. It’s extremely hard for these small businesses to find a good accountant, let alone one that they can afford; you can understand why so many choose the do-it-yourself option.

Complicated US Tax System

The US tax system is extremely complex, even for the smallest businesses and the simplest returns. When Intuit perpetrated one of the biggest frauds in history, they successfully convinced small business owners and individuals that they could save money by doing their own bookkeeping with QuickBooks and their own taxes with Turbo Tax. It takes at least five years of experience working under an accountant before anyone should be trying to do tax returns on their own, and that’s working 40 hours per week. If Intuit was correct, there would be no need at all for professional tax preparers.

Small Business Owners’ Burden

Most of the time, the burden falls on those that can least afford it, the small business owners. I can say that over the forty-plus years I’ve spent as an accountant, the tax code has become more and more complex. Federal, state and local jurisdictions are always looking for money and creative ways to raise it.

With regards to this timely moment, I’ve recently published a book revealing ‘The Secret Sauce to Accounting and US Tax Preparation.’ This is a complete guide for accountants and aspiring tax preparers to start and run their small businesses and ultimately achieve a higher income. Get the chance to learn about the Revolutionary Bedrock Business Builders System and take advantage of this perfect storm of opportunity.