Thank You for sharing your numbers. I can only imagine the confidence and guidance that this video may provide to other CPAs that are dreaming of opening their own firm.

I’ve been trying to find a video like this for a year now. Awesome!

Really well done. Thanks for sharing Logan! Congrats on the fantastic year.

Self employed CPA. I make a little less than $500K a year. My minimum annual fee is $15K per client. I have one client who pays me $60K, another $30K. I only do books for businesses making over $2 million a year in sales. I do not do personal tax returns unless they are the business owners of the companies I am the CPA. I am not unique. I developed a strategy of seeking higher paying clients and then letting go of lower paying clients as I go along. I work about 70 hrs a month. My success, and yours, is be based on recognizing who has the bucks, not businesses making less than $1 million and certainly not regular personal tax returns. My time is valuable. If I am not making between $400-$700 an hours, I am not interested. Now, you may not be able to start with that mindset, but it should be your goal. Remember: Don't do work for people who complain about money; always look to find wealthier clients and let go of the poorer clients as you go along to free up your time to service wealthier clients. It may take 5 years, but if you stick with that philosophy, you too can make almost $500K a year as a CPA. One last thing: I DO NOT charge per hour. I charge on a fix fee. You will find as you go along, the more you knew the client's books, the less time you take. Hence the fixed fee gives me more money per hour as I get faster on doing the client's books. And I always raise my fees 10% minimum each year on existing clients. If you build trust and your client feels they cannot live w/o you, you can raise your rates 10%+ per year. One client I charge an extra $1,000 a month for every new store they open. Be creative with how you make money from your fees.

Awesome video! Great to hear how other firms are operating and you had a great year!

Logan, congratulations on your first year and I found that your statements regarding your "take home" now vs. as an employee should serve as a motivator to anyone thinking of opening a new firm. My experience was similar and I've never looked back.

Can’t wait to see your 2022 video like this one. I want to open my own firm. Also can you do a office video of your gear specifically the sit stand desk which I am obsessed to get but not sure which brand

Great video! Glad your first year solo was a success. I'm a recent CPA and thinking this may be my goal after a few more years of experience.

Solid work, video, and everything! Congrats!

Commenting for the algorithm, I hope you do the 22 busy season breakdown. Subscribed w notifications

Great video. Congrats on your first year!

Loved this. Thanks for the insight.

Well done!!! Congratulations! Keep up the good work and great ideas!

Awesome info! Thanks for sharing!

Very valuable insight. Thanks for the transparency!

This video is very insightful and high quality! Keep it up!!!!

Love the quality of your videos and the value you're providing! Thank you very much for your hard work.

Thank you so much for this video Logan! You did AMAZING your first year! I'd love to see more videos, especially the 2022 season, since now I'm curious how bonkers it was. :)

Great info and transparency !!!

Congratulations on a great start!

Proud of you Logan. Keep on grinding.

great video, thank you for sharing. I will be taking the leap and starting my own firm soon and this is inspiring. Can you do a video going over all of the software and programs you use to manage your practice?

Also, congrats on a successful first year!

Thanks for sharing Logan 👍

Huge congrats!

Thank you for sharing!

Great video!!! Overall great content in general

Thank you si much for this video. I’m so glad to find someone that does a breakdown of how their business is going as it’s really helpful for reference. I’m an accounting student so this really gives me a little direction of future opportunities. I hope your business keeps growing

Great video!

Lol.. when you said you dont track your time and paused, I really felt that lol... Hate tracking my time...

Thank you so much for sharing 🙏

Thanks for sharing your numbers!

Great presentation.Just wondering why it costs so much to prep personal tax returns in the states.We charge pretty lower than that for personal in Canada.Complicated personal returns charges start at say $300 depending on time spent but basic personal still go for $CAD100.Love the breakdown of income and expenses and would suggest that you leverage accounting services that would cover accounting/bookkeeping, payroll, advisory, tax prep/filing and transaction taxes for businesses in exchange for a monthly revenue pull from those client base.Imagine 100 business clients each paying monthly fee of $500 each in exchange for listed services?Congrats on starting and all the very best.

This was a great video and inspires me. I’m also thinking of starting my own firm…or buying one. Do you mind sharing how you located a contractor to help with some of the tax return prep?

Thanks you so much for sharing

Great video. 80K in Austin isn't bad at all. You should be really proud of your effort!

Pretty good first year dude, mine was about the same, started in 2020. I think you're getting a little hosed on the tax software, also curious to know more about this 1040 automation software?

Hey Logan, thanks for the informative video! Was there no non-compete clause at your previous firm? They didn't take issue with you taking on 60 of their former clients?

Keep up grt work.

Thank you for the info, I'm new to the channel and the video was great. I am going into my 4th busy season and just received my CPA. My tax return work has been similar to what you mention and I feel like I still have a ton to learn on low level taxes alone. I'm just starting to consider what it would require to be self employed and am trying to identify some of the specific nuts and bolts needed to get started. For example, do you keep your practice in an S-corp and pay out a salary and distributive share? Does your software charge on a per return basis? Is it a suite package which offers an upload module for clients as well as file management, tax software, etc. Do you use digital marketing to bring in new clients? Any specifics to your insurance policy that you find important? These are mainly content ideas, not asking for a reply on all. I will also subscribe and follow. Thanks again!

Thanks for the video, my wife just got a job with Elliott Davis a CPA firm, so I'm just looking for CPA videos on KZfaq.

Omg I applaud you for your transparency! Congratulations on knocking it out the park with your goal and your take home percentage. I’m curious about how you accept payments. Less than a tenth of a percent of your revenue seems great!!

I want the 2022 follow up! Also, what did you pay Sales Taxes on? Being in Texas, I’m curious.

Yes please make more videos!

Love this video! Currently in grad school for my Masters in Taxation and plan to sit for the CPA shortly after I graduate. My dream is to open my own firm🥹 This was so insightful and thank you!!!

I think a video outlining what it takes to start a cpa firm would be helpful and provide great value. I notice you don’t pay rent expense so you may be wfh ? Computers, equipment , softwares needed etc I would personally watch a dozen times.

Great video

This is a good video. What a great guy.

Did you pay yourself rent. Find ways to take advantage of QBI

What was the automation software you used?

Hi, I’ll be hired for an international taxation project in ATX next year. How can I contact you?

what continuing education expenses did you incur if you already had your Masters of Accounting and your CPA?

Wow it’s really amazing

What software helped you automate 1040 returns?

Hey yo only question where you find your clients .

wait im so confused did he mean “revenue” when he said “income” ?

Agreed on the paid consultation. They respect what they pay for

How many employees do you have so far?

How much did it cost you to buy that book of business and how much of your expenses are deductible?

Hi, I own an accounting and advisory firm in NJ. How can I go about buying clients????

Is there a way to contact u?

Hi Logan, is buying accounting firm is good option ?

What software do you use?

The $800 club is a good place to be my friend - it's better up here :)

Congratulations, being a tax preparer you are my role model

YEE YEE

I make $85k as an employee. My responsibilities- Meet 90 clients in person or zoom Prepare approx 200 1040s 18 S and C Corp 20 Partnership 15 trust and estate 15 bookkeeping using QBO

Can every CPA earn 100000+dollar income

Also....this guy is too handsome to be an accountant.

10:38 France does this for law.

I don't trust an accountant that only uses two monitors. #ThreeMonitorsMan

$600 for a few w2s?!?! 😂😂😂

❣️ ρ尺ｏΜ𝐎ᔕᗰ

Thank you for sharing!