• Career Center

    Freelancing CPAs: What’s the Risk?

    By | May 12, 2017

    Please enjoy this sponsored content from Beech Valley Solutions. You can read more their partnership with Accountingfly here.

    Freelancing CPAs out-earn salaried employees in 900 fewer hours a year.

    That’s 900 hours – I repeat – 900 hours to watch all four hundred plus episodes of Law and Order SVU… twice.

    That would still leave you time to start your own side project, raise a family, or travel the world. Or, you could just freelance more and get paid a premium for every hour you work (click here to see what your billable rate would be).

    I know, sounds too good to be true… I sound like a second-rate huckster, a pimp, a fraud.

    But we’ve done it, and countless others have as well. We’ve started two companies, enjoyed multi-month long vacations, and obtained valuable, new accounting and operational skills.

    That’s not to say it wasn’t nerve-wracking walking out of that midtown skyscraper for the last time. It can be difficult to break out of public accounting’s golden handcuffs in the form of salary and employee benefits. It’s so common to feel trapped – a prisoner of your email – all in the name of security.

    So, if you’re interested in the financial and lifestyle opportunities allotted by freelancing, but afraid of the uncertainty, ask yourself these three questions.

    Are you leaving on good terms?

    Were you an average-rated employee? Did you suppress the urge to write an unfiltered farewell email? Yes and Yes?

    Well then, your old firm will take you back should you loathe being your own boss. 98% of HR managers said they would rehire former employees in a 2016 survey.

    After all, who better to fill your former firm’s CPA shortage than you?

    Do you have sufficient savings?

    Worried about immediate cash flow after quitting?

    This calculator will help you determine how much you should have in emergency funds. It’s based off 6 months of unemployment, which is super aggressive for an in-demand CPA, but conservative nevertheless.

    If you have enough in reserves, you should be able to weather this transition period. If you don’t, your PTO payout could suffice.

    However, working with Beech Valley, you will generally have a short lag. Just plan your last day to coincide with the start of a Beech Valley consulting project.

    You can receive opportunities via email by signing up here.

    Are you a living, breathing CPA with public accounting experience?

    Consider your days in public as failed entrepreneur insurance.

    There’s a shortage of experienced CPAs, so if you absolutely hate freelancing, and you’d rather sell your vital organs than go back to your old firm hat in hand, you still have stable, career-building opportunities.

    Opportunities, like:

    1) Let your client convince you to work for them full-time.

    2) Go back to public accounting at a new firm.

    3) Pursue an industry niche, and receive a raise from your past salary.

    Just remember, you can make a big league amount of money as a freelancer while taking time off to do whatever you want.

    And if you ever get sick of it, you’re better off than you were before. You can check off the proverbial “work for myself” box, and then leverage your experience for a more exciting and lucrative role.

    Josh Tarica is a co-founder of Beech Valley Solutions, the premier network that connects CPAs with freelance opportunities in advisory, assurance, and tax. Beech Valley consultants enjoy higher pay for every hour worked, the flexibility to accept or reject projects, and the ability to diversify their skill sets.

    • SouthernCPA

      If the author of this blog post is reading…

      Your website appears to be nothing more than a sales pitch. So do your articles posted on here. Perhaps you might provide a better service to CPAs by giving more real-life examples of how this works on your website. All I see is one quote from a CPA who’s name I cannot pronounce.

      Maybe some better examples of how this all works.

      Maybe the ability to review potential opportunities without having to provide all my contact info to you.

      Just a few ideas.

      • Brad Hughes

        Thanks for the feedback! We’ll keep this in mind as we create more content in the near future. We have some case studies on the way that will be posted in the next couple months.

        Big picture – we find accounting projects for freelance CPAs in our network. The CPAs who work with us are contractors who get paid based off an hourly rate.

        I would recommend the following next steps for anyone wanting to learn more…

        IF YOU’RE ALREADY A FREELANCE CPA INTERESTED IN OUR PROJECTS:

        Just contact us immediately. We’ll setup an intro call.

        IF YOU ARE CURRENTLY EMPLOYED BUT CONSIDERED FREELANCING IN THE FUTURE:

        1.) You can check out the blog on our website. Just click the ‘How it works’ or ‘FAQ’ tags on our blog.

        2.) Some of our projects get posted to our blog or right here on GoingConcern. You don’t need to provide any contact information to view the descriptions.

        3.) We additionally send out projects to our mailing list. You can subscribe on our ‘Careers’ site. The only contact info you need to provide to join our mailing list is your email address (for obvious reasons).

        4.) At any point, you can fill out our contact form and schedule an intro call. The only information needed to complete the form is your email address and name. On the intro call, we answer any questions you may have, and offer ourselves as a resource to helping you make the transition from fulltime employee to freelancing consultant.

        Most of our projects don’t make it to our mailing list or a job posting, as we oftentimes have a CPA in our database that we’ve already connected with who is a good fit. That’s why if you’re already freelancing, by far the best approach to working with us is to just contact us directly.

        • Charles Floyd

          Blah Blah Blah………

    • Charles Floyd

      This company sucks – period. Unable to communicate – unknown in the accounting world – better off doing this on your own.