Can I open a business with an Associate degree?

Question

I am going to a local (accredited) community college to get an Associate of Applied Science in Accounting. After I graduate, I would like to open my own accounting business in which I do people's taxes, provide financial advice, and help with other legal financial forms (such as the FAFSA). Would an AAS be sufficient for this goal? Or, do I need more education?

I don't understand why I would need a bachelor's degree anyways because with an AAS, at least 85% of the classes I am taking are DIRECTLY related to my field of study whereas a Bachelor's degree has about 35% - 45% of general studies courses that are NOT DIRECTLY related to the field of study. Personally, I think that the AAS is a better choice, but I do understand what you all have said.

Answer 1

Based on the courses my wife took, probably not. You would be better off starting with at least a couple of years with a firm where you would have backup for some of the stupid things people come in with. You would learn and understand more of what you might need and if observant, learn about running the business. At that level you would be competing with H&R Block and similar lower cost operations. Most independent accountants are CPA.

Answer 2

Also remember when starting your business (especially since you are dealing with money) you are going to need a ton of insurance in case you make a mistake and get sued.
Also, with CPAs being relatively inexpensive to hire, you would be competing with people that have way more experience and credentials than you.
For instance, my accountant charges about $100 for 1 hour of face time, and he does all the work with forms and taxes. He is licensed, insured, degreed, has his CPA, and works full-time as an accountant for a larger company. People would much more likely choose to use a person like that than a person who would charge $50 and have no experience.
Good luck either way!

Answer 3

I believe that any degree in that field will allow you to open a business. I would go to your local SBA and ask. You may be able to open a business with just the associates, but need the bachelor's or master's to be trusted by the public.
i would reccomend that once you get your associates, try working at a college in that field. The benefit is that you will get the experience neccessary as well as a discount if not free classes so you can get a BS or master's

Answer 4

Some places require a CFP license .
(Certified Financial Planner)
There is very high liability with this career and you should be fully certified and licensed .
What are the rules for your locality ?

Check with the board

http://www.cfpboard.org/

and from the website :

Bachelor's Degree Requirement
Beginning in January of 2007, a bachelor's degree, in any field of study or program, is required to obtain CFPÆ certification. The bachelor's degree requirement is a condition of initial certification; it is not a requirement to be eligible to take the CFPÆ Certification Examination. After you pass the CFPÆ Certification Examination, you will be required to provide evidence (photocopy of degree) that you hold a qualified bachelorís degree or higher degree.

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Answer 5

I think it's likely that you won't succeed given that most businesses that provide services such as you want to offer are considerably more accredited than you will be. Unforunatly the cost of entry for entrepreneurs into the financial industry is somewhat high.

I think you will need more education - a ba/bs at minimum and a CPA or CFA/CFP preferably.

Answer 6

Continuing your education should always be your objective as one should never stop learning. With that in mind, I would recommend that after you get your AAS to consider taking some tax courses offered by H & R Block. This could lead to a possible job offer once your classes are complete. Plus, it could help you gain the experience you need to start your own accounting firm. Hope this helps.

I wish you the best in all you business ventures.

Answer 7

Many MILLIONAIRE nusiness owners never finished high school. So YEAH.