Small Accounting Practice Owner

Also called: Fractional CFO

Runs a local accounting firm doing taxes, bookkeeping and advice for small businesses and families.

A day in the life

In tax season you meet ten clients a day; the rest of the year you advise a restaurant owner on cash flow and serve as a 'fractional CFO' for three startups.

Pay over a career

Starting
$60k
Typical
$130k
High
$300k

Owner profit depends on the number of clients; established practices are often very profitable.

Approximate: anchored on Bureau of Labor Statistics data for a broader job group.

Training

Bachelor's degree (4-year), about 6 years after high school. Bachelor's in accounting; CPA license or IRS Enrolled Agent status.

Ways in: 4-year college, Certification, Self-taught. Training cost: $15k – $60k.

Majors to look at: Accounting, Finance.

Outlook

Growing about average. Many older CPAs are retiring and selling practices.

Will it last? Our AI estimate

Medium risk for 10 years. Software and AI take over bookkeeping and simple returns; owners shift to advising local businesses, which keeps demand steady.

Start now, in high school

Classes: Accounting, Entrepreneurship, Personal finance, Computer applications.

Official data: O*NET occupation 13-2011.

More Accounting & Auditing careers

Career Universe is an early version. Pay, training and AI-risk figures are estimates to start your own research, not verified facts. The research was written with AI research assistants, checked by validation scripts and spot-checked by hand. Check anything important with schools, employers and official sources. How the numbers work.