[ParanoidAndroid]

I have decided to start my own bookkeeping/accounting gig. Is anyone currently doing this? I always have people (mechanics, doctors) come up to me asking me for help. I have been working with a couple businesses and the work is obviously pretty easy and I’m charging a reasonable fee (up to $300/month). I have talked to 10 small businesses so far and I think I can get at least another 10. I hate my current job and this would give me the opportunity to get out of regular accounting (sitting down like an ass all day).

Any tips/advice?

CPA for life...

[tough_kitty]

You and Roger both…which is awesome! I enjoy helping people too and tutoring especially. But it makes me wonder – what was the point of getting that license? 🙂 At the same time, I just passed REG so I do know exactly why I would NOT want to become a CFO or a manager in a CPA firm (LLP) 😉 So, my options are limited…

FAR: 81 (May 2013)
BEC: 81 (July 2013)
REG: 83 (August 2013)
AUD: 82 (November 2013)
California CPA since 1/30/14

[ParanoidAndroid]

@tough_kitty…I never though about doing this…my plan was to go work for a large accounting firm, but things have not turned out the way I planned and I don't want to sit down and just keep working for something that is basically a dream…LOL….

CPA for life...

[ParanoidAndroid]

@tough_kitty…I never though about doing this…my plan was to go work for a large accounting firm, but things have not turned out the way I planned and I don't want to sit down and just keep working for something that is basically a dream…LOL….

CPA for life...

[tough_kitty]

You definitely have to pursue your dreams! And find what's best for you. I am still trying to decide what to do in terms of my career….CPA firms don't sound attractive…working for the State is getting old….and I am kind of in between – over-qualified for bookkeeping but under-qualified for manager positions…Accounting is my second career, so it's tough to decide what to do next…..

I took a basic Federal & State Taxation course back in 2009 and got the appropriate credentials to become a paid tax preparer in California (CTEC license), created a website for my brand new business….but then had really hard time finding clients…..so had to give it up after a few years…. but it sounds like you have some client base already so it's worth a shot…just be careful about all the liabilities as a CPA….the pressure is on 😉

FAR: 81 (May 2013)
BEC: 81 (July 2013)
REG: 83 (August 2013)
AUD: 82 (November 2013)
California CPA since 1/30/14

[tough_kitty]

You definitely have to pursue your dreams! And find what's best for you. I am still trying to decide what to do in terms of my career….CPA firms don't sound attractive…working for the State is getting old….and I am kind of in between – over-qualified for bookkeeping but under-qualified for manager positions…Accounting is my second career, so it's tough to decide what to do next…..

I took a basic Federal & State Taxation course back in 2009 and got the appropriate credentials to become a paid tax preparer in California (CTEC license), created a website for my brand new business….but then had really hard time finding clients…..so had to give it up after a few years…. but it sounds like you have some client base already so it's worth a shot…just be careful about all the liabilities as a CPA….the pressure is on 😉

FAR: 81 (May 2013)
BEC: 81 (July 2013)
REG: 83 (August 2013)
AUD: 82 (November 2013)
California CPA since 1/30/14

[Tncincy]

Liabilities of a CPA are covered under Professional Liability Insurance. Pearl insurance is a good one.

I have my own business…it's tough because as the owner you have to do everything or pay someone to keep up the web-site, advertise, answer the phones, market……I am taking the exam so I can venture out a little more. My community knows me as the tax lady, but I want to be known as CPA and change the view that I am a personal H&R Block (not putting them down) or the same as them. Running a business takes investors and a strong clientele. I have a strong tax clientele but now I need to compete with the other two small accounting firms in my town.

Go for what you dream with no regrets.

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

[Tncincy]

Liabilities of a CPA are covered under Professional Liability Insurance. Pearl insurance is a good one.

I have my own business…it's tough because as the owner you have to do everything or pay someone to keep up the web-site, advertise, answer the phones, market……I am taking the exam so I can venture out a little more. My community knows me as the tax lady, but I want to be known as CPA and change the view that I am a personal H&R Block (not putting them down) or the same as them. Running a business takes investors and a strong clientele. I have a strong tax clientele but now I need to compete with the other two small accounting firms in my town.

Go for what you dream with no regrets.

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

[Jade CPA-to-be]

I am also thinking about start my own practice doing mainly bookkeeping and tax return preparation. I think the most difficult part at the beginning is to get clients. If you have 10 clients and maybe 10 more clients later on in a short period, I think you are good to go. If you don't mind sharing, how do you get that many clients? I do have friends asking me doing their books, but only 2 or 3. LOL

I am currently working for CPA firm, can i still open my own practice and do it on the side? Anyone knows?

Good luck!!!

CPA Licensed in California- Class of 2013

[Jade CPA-to-be]

I am also thinking about start my own practice doing mainly bookkeeping and tax return preparation. I think the most difficult part at the beginning is to get clients. If you have 10 clients and maybe 10 more clients later on in a short period, I think you are good to go. If you don't mind sharing, how do you get that many clients? I do have friends asking me doing their books, but only 2 or 3. LOL

I am currently working for CPA firm, can i still open my own practice and do it on the side? Anyone knows?

Good luck!!!

CPA Licensed in California- Class of 2013

[mena je twa]

Interesting post

I was reading the journal of accountancy magazine and at the very back of the page, they have some potential sellers of cpa firm/ business.

Has any one of you guys thought of buying a small firm and then growing it from there? Do banks lend money to buy a cpa business and if yes, do we have to put 20% down.

Cause, starting your own from scratch will require a lot of patience and some good years before you can reach to a level where it is sustainable?

Please share some views, thanks and pros & cons of buying a existing cpa frim

Licensed CPA, Texas - 2012

[mena je twa]

Interesting post

I was reading the journal of accountancy magazine and at the very back of the page, they have some potential sellers of cpa firm/ business.

Has any one of you guys thought of buying a small firm and then growing it from there? Do banks lend money to buy a cpa business and if yes, do we have to put 20% down.

Cause, starting your own from scratch will require a lot of patience and some good years before you can reach to a level where it is sustainable?

Please share some views, thanks and pros & cons of buying a existing cpa frim

Licensed CPA, Texas - 2012

[jeff]

CPA work is often relational when it comes to small business accounting and taxes. Just because a client likes the current CPA doesn't mean they'll like you…especially if they perceive you to not have enough gray in your hair, so to speak.

I wouldn't buy someone else's firm, which is essentially their client list + some copiers and computers.

Also – debt dramatically increases your stress and being self-employed is stressful enough.

[jeff]

CPA work is often relational when it comes to small business accounting and taxes. Just because a client likes the current CPA doesn't mean they'll like you…especially if they perceive you to not have enough gray in your hair, so to speak.

I wouldn't buy someone else's firm, which is essentially their client list + some copiers and computers.

Also – debt dramatically increases your stress and being self-employed is stressful enough.

[Tncincy]

I totally agree, I think I am going to keep my tax portion of the business and I want to work for a firm (larger than mine…lol) Simply because I love accounting and always wanted to work for a large firm. It might be a little tough living in a rural area, but I'll find somebody. Anyway, I think I need to pass the test first.

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

[Tncincy]

I totally agree, I think I am going to keep my tax portion of the business and I want to work for a firm (larger than mine…lol) Simply because I love accounting and always wanted to work for a large firm. It might be a little tough living in a rural area, but I'll find somebody. Anyway, I think I need to pass the test first.

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

[Author]

Replies