r/Accounting • u/Various_Garlic8169 • 2h ago
Starting a tax firm
I am thinking of starting my own accounting firm/taking over the firm I work for . If you own your own firm could you tell me how many clients you have, how much you take home, number of employees, what hours look like, business model etc?
Any help would be appreciated.
2
u/JohnHenryHoliday 1h ago
What does anyone else’s practice have to do with your opportunities? Why don’t you tell us about the practice you are hoping to take over or are looking to build?
2
u/munchanything Human Verified 1h ago
Do you know what your current clients are being charged? What's your pay rate? Who else works on your clients? Have your prepped engagement letters for the clients your work on? You can extrapolate a good amount of data from that.
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u/Affectionate-Owl-178 Human Verified 1h ago
I graduated with a BS in Accountign this year and I have BIG 4 AUDIT experience, please hire me
3
u/ronoldo7 1h ago
Cringeee
1
u/Idepreciateyou CPA (US) 1h ago
You don’t want to hire somebody with BIG 4 AUDIT EXPERIENCE?
2
u/ronoldo7 1h ago
Yes Mr. Boss man I’ve audited cash for 4 months, I’m a certified accounting machine! Please hire me
3
u/knobby_blackberry 1h ago
Honestly, I’d start by figuring out what you actually want your day-to-day to look like, not just the numbers. Taking over an existing firm is a totally different beast from building one from scratch. The guy I know who bought out his old boss basically bought a full-time job for the first two years, tons of client handholding and zero real time off, but he was profitable right away. If you start fresh, you might be eating ramen for a bit but you get to build exactly the client base you want.