[jay1942]

I am thinking of opening my own cpa practice without getting the experience for my attestation licence. I currently work in financial reporting and am at such a high salary I would be taking a pay cut if I went into public accounting. Also I have done taxes for two small business’s and numerous tax returns for individuals. I am interested what everyone thinks my next step should be….

BEC 3x 77 expires 1.30.16
AUD 2x 80 expires 10.31.15
REG 2x 86 expires 2.28.16
FAR... 7-15 .. 48* .. 77
* Did Not study at all

[tomq04]

Sick of the high salary grind?

REG- (1) 76
FAR- (2) 64, (5)74, (7)83 (Over achiever!)
AUD- (3) 70, (4) 75
BEC- (6) 75

[jay1942]

I think I could get an even higher salary by going it alone….

BEC 3x 77 expires 1.30.16
AUD 2x 80 expires 10.31.15
REG 2x 86 expires 2.28.16
FAR... 7-15 .. 48* .. 77
* Did Not study at all

[mla1169]

I've also got a non reporting license and considered opening my own practice (wanted to get my PHR certification and be a one-stop shop for small businesses). After thinking long and hard there is NO WAY I could replace my current job. Remember to add in the non-billable marketing time, your fringe benefits, double what your current deductions are for taxes (more or less, I know its a bit less in reality).

It sounds so much better but REALLY put the numbers down, including your insurances that you'll need to carry (liability, etc), marketing time and expenses, etc. No client is guaranteed forever and if you lost your most major client what is the “plan B”, etc.

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

Massachusetts CPA (non reporting) since 3/12.

[tomq04]

Accountants are way too conservative. Always looking at numbers

REG- (1) 76
FAR- (2) 64, (5)74, (7)83 (Over achiever!)
AUD- (3) 70, (4) 75
BEC- (6) 75

[Tux]

I'm pretty sure that you do not need an attestation license to open your own practice.

I would suggest that you check with your state board.

I'm interested in doing the same thing.

FAR - 86 - 2/27/14
AUD - 75 - 5/29/14
BEC - 80 - 8/31/14
REG - 89 - 2/27/15
Praise Jesus! I'm done!!

Study resources:
Becker
Wiley test bank

[mystical guy]

I spoke to a highly success CPA who owns a tax practice. I think that should be your first step, finding a mentor.

Otherwise, owning a business is just that-owning a business. If you have the passion and determination, I would say get your business plan ready and be prepared to make a loss on the first year of operation – very common.

CPA - Since 2015
CISA - Smashed 2012
CIA - Passed 2015

[mgnyc]

Does opening a non attest practice mean you don't go through peer review? Are all the one man CPA tax practitioners registered as firms in their state?

Aud 73, 79
Reg 70, 60, 67, 76
Far 70, 66, 72, 87
Bec 77

[Anonymous]

Do it. I love having my own business.

[Amay]

I would love to do this one day… Does anyone know more or less what is the amount of initial capital needed to start a CPA firm? I feel like getting the cash to start (and obviously the clients) would be my biggest hurdle.

BEC: 73, 81
AUD: 85
FAR: 71, 77
REG: 74, 75...finally DONE! 😀

*This is my 2nd attempt at the CPA exam. For all of you who have failed this exam many times, given up on it, or taken a break like me, remember that it is still possible to finish what you started...failure is the opportunity to begin again more intelligently 🙂

[Author]

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