[Wanttrepreneur]

Hello,

I want to start an accounting frim in Los Angeles, California. I was wondering if anyone can walk me through step by step on how to form a sole proprietorship. I have questions like how to create a DBA, what forms I need to fill out, who I need to contact etc. If anyone has started their own sole proprietorship and can help, it’ll be much appreciated.

[jeff]

My advice: Talk to an attorney. Ask them about DBA vs LLC & S-Corp according to your unique situation. Talk to an attorney 🙂

[Recked]

NY laws here. My recent conversation with attorney pretty much boiled down to… No matter the type of entity, if your name is on it, you preformed the work, you can be personally held liable.
I encourage you to talk to your own attorney in CA, but I even more strongly encourage you to talk to your insurance broker.

If CA laws are similar to NY, the entity type won't much matter if you can be held personally liable regardless of the corporate veil.
Protect yourself with boat loads of insurance. Most decent E&O/liability policies come with legal backup that are available to handle calls.

Sole prop/dba are probably going to depend on state law, if not county.
In NY all you do is go to your county court house to file your DBA papers. Get an EIN# via the SS4 IRS website.
Starting the business is easy, not losing your house/pension/car/bank account is the real challenge.

If you are doing tax prep be aware of the EFIN time delay, and also be aware of your states firm registration requirements.
Sole prop CPA firms needs to be registered in NY, even if the sole prop is already registered as a CPA.
GO NY!!!!

[aaronmo]

If you are asking this question here, instead of researching it, you are not ready to have your own practice. I am being blunt. To have your own business in TAX means being able to research and navigate rules like this.

You start with your state's home page.

[Wanttrepreneur]

@aaronmo asking questions is a part of doing research. If there is someone who already walked that path, paved the way, and can help, why would I not ask for his/her advice. It's not about working harder, it's about working smarter. I didn't ask for your opinion, I asked for one's guidance.

[Skynet]

Make sure you have half naked ladies serving Buffalo wings and cold beer while the clients are waiting for their taxes. Having the games on multiple big screens also helps too.

[Author]

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