Thinking of starting side business for taxes/financial planning/accounting

[Daisyedwards800]

I'm an accountant working for a big firm but would like to do some side work using my skills.  What kind of work do people hire out for aside from personal income taxes, and how complex are personal income taxes generally for people who hire accountants?  I wonder if my skills would be enough right now or if I need to learn some small business accounting. 

Did anyone else start small with this and how did you learn along the way?  How did you have the confidence to just dive in and offer services if you weren't sure what clients would need?

[SeattleCPA]

Often, unfortunately, small CPA and accounting firms don't make their owner more than she or he would earn in a job:

https://evergreensmallbusiness.com/small-cpa-firm-profitability/

That doesn't mean it can't be a good deal, however. It absolutely can. But you need to do it right way. (Basically, you need to do work that people can't possibly do with TurboTax.... see here for longer discussion: https://evergreensmallbusiness.com/your-cpa-versus-turbotax/ )

Tip: Work for some local firm who is doing this right... since that is the model you'll copy. Also, consider buying a local firm that's run right.

P.S. I love being a small CPA firm owner. You can make a good living doing interesting work for interesting people!

[Brit71]

I'm also looking at starting a side business doing bookkeeping, tax and final accounts for small companies in the UK.  I'm going to try to niche this towards a certain segment - I've got the time to sort this out and start slowly.

Are other people doing anything similar?

(If there is a more appropriate thread then I'll be glad to be pointed to this)

[cool7hand]

Perhaps this source might give you some comfort: https://podcasts.apple.com/us/podcast/the-yale-law-professor-who-is-anti-roe-but-pro-choice/id1570872415?i=1000560474755.

[Brit71]

Perhaps this source might give you some comfort: https://podcasts.apple.com/us/podcast/the-yale-law-professor-who-is-anti-roe-but-pro-choice/id1570872415?i=1000560474755.

Is this the wrong podcast or have I missed some subtle joke about restarting threads?

[cool7hand]

Perhaps this source might give you some comfort: https://podcasts.apple.com/us/podcast/the-yale-law-professor-who-is-anti-roe-but-pro-choice/id1570872415?i=1000560474755.

Is this the wrong podcast or have I missed some subtle joke about restarting threads?

No joke. Just a copy and paste error. Now I can't find the link I wanted to share!