[Star86]

This question is primarily for those who own their own accounting firm: How many years of experience did you have before you started your own accounting/tax firm? Thank you.

[Tncincy]

I only had minor experience when I opened my bookkeeping and tax business. I only had college courses and I learned how to do taxes through VITA as a volunteer. I have been in business since 1995 doing bookkeeping and taxes. Heaven knows why I did not pursue the CPA much earlier in those 20 years. I do realize that to make my business stronger and more competitive, I need the CPA.
Save some money and build a good business plan if you are considering opening a firm. Get with a CPA as a mentor if you know one that is a friend.

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

[Star86]

Thank you, Tncincy. I appreciate your advice. You're story is inspirational. I have a few tax seasons under my belt, some as a VITA volunteer as well. I have bookkeeping experience as well. With all of the new changes to taxes for 2020, it seems that many firms are experiencing growth this year and there is a lot of growth to go around.

[Tncincy]

Well it would be more inspiring if I pass this exam. My family and friends are cheering for me. I feel so bad every time they ask “did I pass”? And I have to say not yet. Main thing is if you’re going to start your own firm be sure and maybe even determined not to give up. Time, patience, mentors, and money or good credit (lol). Good luck to you, Back to studying.

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

[Recked]

I was about 18 years in the field. Definitely way too long.
I think 5 years experience would be a pretty good jumping point.
If you are just starting out fresh, without much experience, be sure you have that E&O insurance.
You won't know enough to know that you are making mistakes. And everyone makes mistakes.

[Star86]

Thank you, Tncincy! Good luck to you too!
Great advice, Recked!

[Author]

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