What can and can't I do if I was to open my own accounting/bookkeeping practice without being a licensed CPA?

I am looking into becoming a first time business owner, and my background has been in accounting and financial analysis. I am not a licensed CPA. I would like to know what I can and can't do with my future practice if I was not to obtain a CPA license.

4 Answers

  • Who
    Lv 7
    2 years ago

    hire somebody who IS a licensed CPA (or subcontract it)

    you do the easy stuff and go out looking for new business

    thats what "business" is about

    When you run a business you dont have to do the day to day work - you hire (or subcontract) people to do it for you

    YOUR job is to get new business for them to do

  • 2 years ago

    Bookkeeper. You don't need a CPA for that.

    In fact, I did that once. I had taken 2 years of accounting and had a semester long course in Quickbooks, so I knew how to do it. So when my Brother-in-law opened his own small business, I did his bookkeeping for him, about 3 hours a week. I've since stopped doing it, but he has another bookkeeper doing about 8 hours a week for him. And she does the same for several other companies each week.

  • danxp2
    Lv 6
    2 years ago

    Look at your state licensing requirements each has their own set regulations on who can do what.

    You could likely do some consulting work if you can get someone to hire you, bookkeeping, payroll, tax prep, prepare financial statements for non-sec purposes, and just about everything except file things with the SEC/perform an audit. However, as I said before be sure to lookup state rules about any license(s) you might need.

  • 2 years ago

    You can be an independent bookkeeper. I have a close friend who does that. Makes $75,000 a year. Of course - he is Quickbooks certified.

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