Tax Consulting Business

2 Tax Consulting Business Success Stories [2024]

Pat Walls

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Updated: October 7th, 2024

A tax consulting business involves providing tax preparation, planning, and advisory services to help clients manage their financial obligations and opportunities.

As a consultant, you use your expertise to oversee tax filings, maximize returns, and minimize liabilities while identifying legal savings strategies.

Given the complexity of tax codes, the demand for specialized guidance tailored to individual situations creates a great opportunity for building a successful practice.

If you have strong financial acumen, a tax consultancy presents a versatile business model that combines vital compliance services with year-round planning and advisory services, leading to robust revenue potential.

In this list, you'll find real-world tax consulting business success stories and very profitable examples of starting a tax consulting business that makes money.

1. SimplySolved ($6M/year)

Haroon Juma, founder and managing director of SimplySolved, came up with the idea for his business when taxes were introduced in the GCC in 2017. Recognizing that many companies would struggle to manage their operations and legal obligations, he saw an opportunity to provide a simple all-in-one solution. With a deep understanding of good service design and operational know-how, Haroon started the company and has since grown it to manage over 300 companies, with a revenue of $4 million per annum and an annual growth rate of 40%.

How much money it makes: $6M/year
How much did it cost to start: $500K
How many people on the team: 27

Building A $4M/Year Company For SMEs: A Slow And Sustainable Growth Approach

Dubai-based SimplySolved has flourished since it was founded six years ago, thanks to its ISO certifications and skilled team. It manages more than 300 companies, handling all aspects of their back-office operations, and turns over $4m annually, experiencing growth of 40% a year, while retaining 4.9 out of five in Google rankings. Founder Haroon Juma says a solid platform, automation and providing a seamless user experience were among his priorities when launching.

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2. A4E ($96K/year)

Sara, the original founder of A4E, launched the business in 2018 as a tax services company. However, after realizing that many of her tax customers had messy books and low profit margins, she decided to expand the services to include bookkeeping and CFO services. This shift allowed A4E to become a strategic partner for its customers, providing them with comprehensive accounting solutions. Since then, the business has experienced significant growth, with a MRR of $8k and a targeted MRR of $13k by the end of the year.

How much money it makes: $96K/year
How much did it cost to start: $1K
How many people on the team: 2

How We Started A $8K/Month Bookkeeping, Tax And CFO Service

A4E, a full-service accounting business, grew five times from when it started about a year ago when it was only offering tax services, and its current MRR is around $8k with a targeted MRR of $13k, providing 100% done-for-you accounting solutions that combine bookkeeping, taxes and CFO services under one roof and for an amazing value for US-based businesses in tech-related industries and services.

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