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Actually yes I know 3 people. They were very heavy tax seniors with a ton of generalist experience. They were all Chinese and one of them spent like 10k on advertising alone. They are all doing well.
I know 2 other people, one went back to private and said that it's easier to work for someone else. The other has a spouse who works so she has a sort of safety if things dry up. She basically works from her basement and does a bunch of individual returns and bookkeeping for like pizza stores and corner stores.
I don't know anyone that created their own like real cpa firm and hired a bunch of people. I would think it would take a couple of years to build a book of business as that big. You would need to go in with a partner for that.
I know a guy who started one like GT1's stories. Heavy senior. I'm getting ready to make the jump and partner with him.
Thanks for the insights GT1!
What’s a heavy senior?
Almost manager. He would have been promoted if he stuck around.