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Discussion:Starting a new firm...

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Neutrino (talk|edits) said:

3 May 2013
I'm planning to start a new firm in the fall. I need to move to Philly for my girlfriend's job and thought it would be a good time to try out solo. I'm looking for tips on anything I might have missed in my planning or things that surprised you when you went solo. If you're in Philadelphia any tips would be appreciated and if you have time to meet up I would love to pick someone's brain on this topic.

Fr. Mackelhenry (talk|edits) said:

3 May 2013
First thing you do is get a religious picture to put behind your desk and make it a mean one, then blame everything you can't do on him. Also, buy two old huge volumes of law from a used book dealer. The older and bigger the better and put these on your desk. The clients will be impressed and they are too ignorant to know that it's admiralty law from the 1700s.

NMexEA (talk|edits) said:

3 May 2013
Wouldn't matter much anyway; admiralty from the 1700s looks a great deal like admiralty today. Biggest differences are the various pollution abatement rules and uniform bills of lading.

Seriously...the OP needs to develop a WRITTEN business plan and secure adequate financial resources before opening the doors. Read a couple of DIY books on small business start-up and management. Then, realizing what an enormous PITA starting a business is, go to work for HRB or someone instead! (grin)

NMexEA (talk|edits) said:

3 May 2013
Tax Writer has a book out for enrolled agents thinking of going into practice. I have a copy; it's worth a read.

Kevinh5 (talk|edits) said:

3 May 2013
And do check the caja amarillo. We've answered this, and all other questions before.

Death&Taxes (talk|edits) said:

4 May 2013
Go to this site:

http://www.phila.gov/revenue/Pages/default.aspx

and learn about Philadelphia Business taxes and licenses.

Neutrino (talk|edits) said:

4 May 2013
Fr. Mack - Pictures of old people... got it

NMexEa - Thanks!, I've read "On Your Own" from the AICPA website, and a couple other books about cloud based bookkeeping I got off amazon. What's the name of the book you've read.

Death&Taxes - Yes weird tax system. I helped someone start a sole propriertorship in Philadelphia and went through the regs for Net Profits Tax and BIRT. Not a cake walk and probably the technical area I'm most nervous about starting with. Will just take time I guess.

Death&Taxes (talk|edits) said:

4 May 2013
And the laws have changed: I believe you will still need a license unless you are putting people to work, but I am not sure. I am to attend a seminar later this month given by the City and sponsored by NATP, but in New Jersey.

When I first went in business in the building that is now the Ritz Carlton, I was there four days before a woman in a blue coat walked in, flashed some ID, and demanded to see my business license. When I told her I had just moved in, she gave me 15 days to get one. That winter One Meridian, next door, caught fire (I was working that night) and we moved to 230 S Broad.....don't you know she showed up there to see our license again!

Fr. Mackelhenry (talk|edits) said:

4 May 2013
In PA, call the Center for Entrepreneurial Assistance at 800-280-3801. The job of this agency is to essentially roll out the red carpet for even the smallest new business in the state. You can also send in your business card to be entered in a drawing for a free lunch. Be careful when you call because you will automatically be entered into a state database and they'll hound you into compliance even if it means you end up in the poorhouse.

Also, check the local public libraries they usually have a section near the magazines with a lot of state specific Diy legal and business books. There is some risk involved because when you get your library card you will be entered into a separate set of state and federal databases to make your life "easier" for you AND to help the state detect when you commit any future crimes, even petty ones (yes your picture is captured automatically when you enter the library).

NMexEA (talk|edits) said:

4 May 2013
"The Enrolled Agent Tax Consulting Practice Guide" by C. Pinheiro.

Wouldn't it be "Caja amarillA"?

Kevinh5 (talk|edits) said:

5 May 2013
Yes, I was using the gender-bender version, in an effort to be inclusive.

Podolin (talk|edits) said:

5 May 2013
This from another discussion, credit to MP Leonard, yes, we used to use his or her where we use their today. A legal document often used only the masculine, sometimes reciting at the beginning that the masculine may refer to masculine and/or feminine.

NMexEA (talk|edits) said:

6 May 2013
My part of the world is heavily bi-lingual. The Spanish is largely Mexican with a few U.S. expressions mixed in. One such word is "Jueza" meaning a female Judge. There is no such term outside the U.S. and Puerto Rico; every Judge is a "Juez" regardless of sex.

Sorry for the hijack.

NMexEA (talk|edits) said:

6 May 2013
To clarify just a bit: The Spanish around here is sometimes called "Chicano" (not Spanglish; that's something different) and if that's what you speak, the genuine Mexicans can tell immediately where you are from and not always to your social advantage. Nearby El Paso is three-quarters Latino now and, according to a local University professor, has become much more "Mexican" and much less "Chicano" since the Drug War began. Being "Chicano" himself, he wasn't too pleased about it, either.

Tax Writer (talk|edits) said:

6 May 2013
The Spanish around here is sometimes called "Chicano" (not Spanglish; that's something different) and if that's what you speak, the genuine Mexicans can tell immediately where you are from and not always to your social advantage.

This is true in Northern CA, as well. My husband is from Salamanca and we are trying to build a house down there, but its been slow going. My Spanish sounds castillain and most of the family sees me as a bit of a snoot. They call me "La Europea," which I find hilarious. It's sprobably the nose, I get mistaken for Sicilian a lot.

Thanks for plugging my book, Norm. There are quite a few tax prep books on Amazon now, many are badly formatted Kindle editions; I would alway suggest reading the sample first. I even saw a few by authors claiming to be "certified tax preparers"-- what does that even mean?

Michelle Long is a CPA and has written several books on practice building and starting a bookeeping business. I don't know her personally, but I know her books are pretty good.

Neutrino (talk|edits) said:

7 May 2013
The one I bought off Amazon is by Michelle Long. It's pretty good easy to read and has a laid back tone. Almost makes it all sound too easy. She does have a great list of resources that I plan to use.

Does anyone have any thoughts on logo design? The designs I've seen recently have been fairly modern, but local cpas seem to stick to their name in font. Would I stick out or be left out with a modern design.

Kevinh5 (talk|edits) said:

7 May 2013
Who is your target client? Appeal to them, not to your own ego.

NMexEA (talk|edits) said:

7 May 2013
How about "NeutrinoTax-We're light, we're fast, and we let nothing distract us!"


(grin)

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