OT: Law school and CPA?

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    Topic
  • #175345

    Considering going into law school because I want to have my own practice and make lots of monies

    thoughts?

    cool story bro

Viewing 15 replies - 1 through 15 (of 15 total)
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  • #391471
    testsz
    Member

    With an over saturated market filled with lawyers, not sure if getting a law degree (unless from a tier 1 and your top of your class) is worth the investment. If you can get someone to pay for it or get scholarships, or even reduce the debt load by a shit ton, than I would say it is worth it.

    Starting your own practice will be difficult unless you gain solid experience in a corporation and establish a clientele.

    I know a few cousins that graduated from law school who are having a really hard time.

    #391472
    FearTheBeard
    Participant

    I can't tell if the OP is trolling. But being a lawyer doesn't mean you'll “make lots of monies”. The job market is tough for lawyers, unless you went to a top law school (I'm talking Harvard, not Regent). In fact, I've read stories of law students suing their schools because the students couldn't find jobs. Here's an example: https://finance.yahoo.com/news/bunch-young-lawyers-suing-law-195616601.html

    #391473
    Anonymous
    Inactive

    My cousin went to law school. Couldnt find a job for over a year and actually had to switch his specialty to find a job. Wound up getting paid much less than expected. He might wind up loving it but this is definitely not what he expected when he decided to go this route.

    #391474
    mla1169
    Participant

    If you go into law because it interests you and you think you'd enjoy it, then go for it. If its strictly for financial gain, I think a long and careful ROI analysis is in order. See bmsheppard's cousin's experience above.

    FAR- 77
    AUD -49, 71, 84
    REG -56,75!
    BEC -75

    Massachusetts CPA (non reporting) since 3/12.

    #391475
    sdgh1826
    Member

    Had a few classmates in a couple of my tax classes who were unemployed attorneys. Most of them graduated either top 25% of their class or in one of those prestigious (aka expensive) law schools in SoCal. While those employed were in a practice they didn't like one bit.

    They were trying to qualify for the CPA exam. Hopefully being a CPA Esq. holds up. I'm curious myself how marketable those two credentials are when looking for a tax or estate practice.

    Becker 2012, NINJA notes

    #391476
    jeff
    Keymaster

    Based on past encounters with this poster … probably a drive-by troll-esque post 🙂

    Jeff Elliott, CPA (KS) | Another71 | NINJA CPA | NINJA CMA | NINJA CPE

    #391477
    musicamor
    Member

    What is “OP?” What do you guys mean by “trolling.”

    Texas CPA - licensed in 2012!!!

    #391478
    jelly
    Participant

    Take a look at the postings in the taxtalent.com career forum section. A good number of unemployed JD/CPA/LLMs posting there.

    Couldn't pass again!

    #391479
    mla1169
    Participant

    music “OP” is orignal poster.

    Trolling, is usually someone looking to spark a debate/controversy. They stop by and drop little nuggets and sit back with popcorn to watch people come unwound. Some people here have a history of being controversial and at one time, goodluck was….well……the center of a LOT of attention here. He claimed to have turned over a new leaf as goodluck2everyone2 and I'm rolling with it for now.

    FAR- 77
    AUD -49, 71, 84
    REG -56,75!
    BEC -75

    Massachusetts CPA (non reporting) since 3/12.

    #391480
    Mayo
    Participant

    Mia, you just got trolled.

    Mayo, BBA, Macc

    #391481

    not trolling. I'm too tired for that these days with busy season already hitting me pretty hard

    I've always wanted to get into law but felt the market was too saturated with lawyers. However, a CPA + JD combo could prove to be deadly

    cool story bro

    #391482
    musicamor
    Member

    Thanks @mla!!

    @goodluck…a JD + CPA combo probably won't get you anywhere as an employee; employers won't be able to guage your focus when they first encounter your backgroud/experience on a resume–obviously, you could start your own firm, but you'll have years of seed-sowing to do in order to return a profit.

    Texas CPA - licensed in 2012!!!

    #391483
    Anonymous
    Inactive

    Whether the OP was trolling or not, I have been seriously considering this.

    In governmental accounting, a big part of my job is analyzing compliance requirements and reading a lot (too many) government contracts. I see the language in these things and know I could write them. I see what the government is paying these people to do this. and I read the expense reports for some of them too. It's mind blowing.

    Granted, I'm not talking about the public defenders or anything like that. I know not all lawyers get to the point where they enjoy their jobs or are making lots of money, but you have to think that a CPA JD holds more weight than a JD alone? I know in a lot of the small farming communities near where I grew up the lawyers handle the estates for all the farmers. That wouldn't be so bad.

    The only way I would do it is if I get a fellowship on campus after application. That way tuition would be paid and I'd be living the good life. Who knows what will happen… gotta nail down this CPA thing first. 🙂

    #391484
    Roxwella
    Member

    Has no one ever heard of a tax attorney? I'm considering this path. Its specialized, and your kidding yourself if you think your becoming a tax attorney to go be an employee the rest of your life. Especially in these hard times, the IRS is out in force with pitchforks looking for cheats at every level. Those caught, need representation.

    I agree the original post was odd, but definitely not stupid. I plan to make lots of “monies” myself ;0!

    #391485
    Anonymous
    Inactive

    I've been planning to become a tax attorney since I was in high school. It's a fantastic career given you go to a tier 1 law school.

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