Can I open a sole proprietorship doing the books/taxes for my buddy's startup while working at the big four?

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There's probably something in your employment agreement that says not allowed. At KPMG that wouldn't be permitted

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Nor at PwC

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I don't use any company software. My hope is to eventually leave my job and work with him. Company keeps growing and we are the only ones with equity. Certainly not 3.50

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At PwC you can. Read your employment contract. You have to get written consent from PwC, though, ensuring that it won't interfere with your day job. You may also have to pay a percentage of your profits or revenues to PwC because your use PwC's intellectual property (yourself)

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Good to know, I'll postpone any work until I turn in my computer

Just do it, i do a firiends small business work now. I asked for 5% equity in business. In turn, i handled all financial matters. Essentially acting as the cfo. It got big and he brought in someone else to handle the day-to-day. Right now company shows loss and it decreases my taxable income.

Youre a staff, in need of extra income.

Think twice before doing it. You might expose your company to a liability if you do it using company's equipment/software. While chances are slim, why would you risk your career for $3.50?

Yeah I use my own hardware/third party software...3.50 😂

Just make sure you're okay with consequences if employer finds out. if you're just doing one friend a favor for a few extra $$ then might not be worth it. Starting a new business or investing time and sweat equity into business you want to do full time at one day is a little different.

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