[cpainva]

Hi – I need some advice here. I have had my cpa for almost 2 years and have worked at small family owned tax firm the whole time. Been through 2 tax seasons. They are super flexible with me, super nice, I have 5 kids and can leave/take off whenever for the kids and only work about 15 hours a week. Can work some from home too. I like tax work but the only drawback is the pay. I am only making $22.50 and hour. And I am not sure if I want to be a partner one day b/c of how much they work. Anyhow, I recently got an opportunity to do some contract work for a guy I know who owns 5 businesses. It pays $30/hr and is about 10 hours a week from home. It could definitely lead to more since they are really growing. I also have my MBA and have been in book keeping for about 5 years (1 am 43). The problem is that I don’t have time to be with my kids (2 are under the age of 5) on the days they aren’t in day care, go to work three days a week at the office, and do my work from home. Should I quit my tax job that is low paying and focus on trying to turn the other work into something more? I was a stay at home mom for 10 years so my husband and I have set up our life so I don’t really need to work so money isn’t a super issue. Its more the time. TIA!!!

[cpainva]

I meant to ask if it seems reasonable that I could do some tax work myself during tax season if I quit the firm. I only have 2 seasons under my belt so that makes me nervous.

[Jimmy Dugan]

You are just talking about one part time job vs. another part time job. It's not like making a mistake with this decision is going to deal irreparable damage to your career.

That said, it seems like you value flexibility above all, and you have that now. The new gig is not that much more money. With the cut in hours, it's actually less than you are making now. Even if it turns into more down the line, they will probably want someone full time in an accounting position once the business is bigger and they need more accounting support. You kinda have to start thinking now about whether full time work is going to be something you can commit to. If not, maybe better to stay with the firm?

Also, you are worth way more than $30/Hr with a CPA.

AUD - 95
BEC - 87
FAR - 84
REG - 90

You're killing me Smalls

 

[alloverit]

Tax firms almost always need help during tax season. Whether the firm you're with currently would hire you back may not matter as another firm certainly would. Also, your $30 as contract labor is about $28 after self-employment tax…but it doesn't appear that money if much of a factor here. It sounds like in your case you should just take the job with the most overall freedom. Trying to do both may create some headaches you simply don't want or need.

FAR 81

AUD 83

BEC 93

REG 84

Ross

[Dad of girls]

I agree with the people above. You sound like flexibility is the most important. Therefore I would try to negotiate a pay raise at your current position. That way you keep your flexibility and get a small pay bump to maybe $25 / hour. Maybe calll it a win-win.

AUD - 89
BEC - 82
FAR - 90
REG - 81

Michigan CPA

[Son]

The way I see it, leaving for this new business is putting all your eggs in one basket. If they go belly up or something else doesn't work out, you're without a job. With the current firm I'm assuming you're working on a variety of clients and if one leaves the firm you have other projects to keep you busy.

Regarding becoming a partner.. Even at a small firm I can't imagine partners work less than 50-60 hours, at a minimum. If that's the path you're even considering you'll need to seriously ramp up your time investment unless you're considering going solo and being a partner in your own very modest practice.

AUD - passed
REG - passed
BEC - passed
FAR - passed

[Asja]

Wow I'm a stay at home mom trying to study for the CPA exam, and really hoping to get into the same position as you, to have the opportunity like you described come my way…The nice people at your current firm definitely deserve a nice gift or flowers as a goodbye present, and really tell them how greatful you are…and train your replacement for them…But a work from home opportunity when you have two kids under age of 5 is something that many dream about…$30/hour is fantastic…you would probably do more than that…if it ends up being full-time; and still is work from home – who cares? Assuming you can get those hours in whenever? I have an MBA too and I forgot most of what I learned because it has been so long…The sooner you get an opportunity to try to apply that knowledge – the more rewarding I believe it would be…Definitely keep up with reading latest business journals to keep yourself sharp…sounds like accounting isn't the only thing you're interested in…By the way…Contgratulations!!

“The strongest of all warriors are these two — Time and Patience.” ― Leo Tolstoy (War and Peace)

[Author]

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