These are the exact steps I used to set up my accounting business in a matter of days!
Hi there! My name is Marina and I run a six figure accounting business. I work PART TIME, from home, and make insanely more money now than I did while slaving away working at a National CPA firm.
Accounting Firm Steps
1. I suggest forming your business as a DBA (cheaper route) to start with, or a LLC. I recommend using Legal Zoom to set up your entity. A DBA is very easy. Everything is tied to your SSN and you report your income on a Schedule C when you do your personal tax return. A LLC is a bit more complex. You will need to file a separate tax return and get an EIN.
Make sure you also go to your local City or County and get a business license. This will cost you about $100-200.
2. Purchase a good laptop. The Lenovo brand has been my trusted brand the decade I have been in accounting. Click HERE to see an example of a great Laptop. I also purchased a printer, calendar and headphones for myself.
3. Online presence: You do need a website. It can be simple, but it helps your creditably. If you have the funds, you can hire someone to build it for you.
Squarespace also has beautiful sites that are cheaper. I built my own site with Squarespace in two days. Check it out HERE.
As far as social media, I would at the minimum open a LinkedIn and Facebook Page for your business. Everyone is on social media these days, so your business must be too.
4. Once you get your first client, purchase E&O insurance to protect yourself.
5. Set up your business in Quickbooks Online or Xero to keep track of your own business! It’s also a great way to practice on the software if you need the practice.
6. Make sure you become proficient in QuickBooks, Xero, Gusto, Drake, and overall any software that you are planning to use to offer your services.
This is it! Once you set your business up, you are ready to start taking on clients! As you can see your whole business can get set up in less than two days!
If you would like to learn more about how I market my services or what technology you MUST know, go ahead and download my FREE Firm Quick Start Guide below.
Also make sure you check out my Inclusive Firm course. In this course I teach the exact steps I took to start my own business, all the best technology and sales techniques out there and much much more! You will be able to go out and start getting clients comfortably after going through my course.
If you prefer one on one mentorship, we offer that as well! Click here to work with me.