Anyone quit their job to start their own practice

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  • #3303037

    Hi everyone,

    I have had my own small practice for a few years now. I only do tax prep/planning and I don’t venture over into any attestation services yet. I recently made the decision to quit my job due to some health issues/family obligations. Over the last year or so, I have been presented with a few opportunities to complete a lump sum of returns from another company that has needed help during tax season. My thinking was that I could get some rest and get my health together and that these opportunities would continue to come or I could get out there and hustle and get enough work to stay busy part-time with my practice and still be able to fulfill my family commitments and improve my health. My wife and kids are behind me 100% on my decision but I can’t help but also feel a little fear as I walk into the unknown. I also, can’t help but feel like, “Why quit a nice job, when so many people are looking for one?” I’m just trying to shake these negative thoughts that are beginning to flood my mind.

    Any encouragement would be much appreciated. Also, if there are any individuals that are in (or have been) a similar situation and it worked out in the long run, please tell your story and offer any advice/encouragement that you may have.

    Thank you all in advance!

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  • #3303040

    Can you take a leave of absence? FMLA leave? Does your job offer benefits beyond wages that are hard to replace? Getting back into the job market can be hard at times. I have quit many jobs for different reasons and it was easy to find another when I was young and still in IT. It has gotten tougher and accounting is tougher at an older age. Health is a good reason to cut back and if you have family behind you then maybe now is a good time but tax season is ending. Are you financially prepared if someone else in your family suddenly cannot work? Will the income be there through the summer? No one ever says on their deathbed they should have spent more time at the office. Most everyone says they wish they had more money. Feel better, take care.

    AUD - 93
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    How have you been?
    Ninja book and MCQs and the forum, all first try! 2016
    Licensed State of Montana April Fool’s Day 2020
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    Mike J

    I can definitely echo what monikernc said about older job candidates. Companies generally want cheapER labor who they can mold.

    That said, you have the support of your loved ones. If you want to do it and have a plan to execute it, just do it. Again, you want to try it and you have the ability, funds etc.

    Nothing worth doing is easy. Best of luck.

    AUD - 90
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    They don't trust JUST ANYBODY to count beans

    Nothing is worth your health. I am adjusting to my family having COVID. In the middle of tax season, I run my own practice, and I had to attend to my family. I had to settle it that my health, and my family was more important. So I had to let go of how busy the season is or I might lose business and focus on my family. Do you know the faithful clients were willing to wait until I was able and the headaches went on to franchise places. I am ok with it because I have no regret and I'll be here for another tax season. So, if you want to start your own business, be reasonable, count the cost and include your family in your decision. Go forward, and don’t forget to make a little emergency stash.

    I’ve been at home since April and tax season didn’t start until February. I am able to go to the office and work for a little while, then go home and help my family that is still recovering.

    It begins with a 75
    Been here too long as a cheerleader.....time to pass

    It begins with a 75
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    Oh yes, I was sick too, but I was so busy helping my family get through this until I really can’t remember how sick I was. But again, make no mistake, that nothing is more important than your family or your health.

    Back to studying 🙂

    It begins with a 75
    Been here too long as a cheerleader.....time to pass

    It begins with a 75
    Been here too long as a cheerleader....ready to pass

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