CPA considering JD. Ultimately, I see myself self employed running a mostly CPA firm but lately, I've just been craving more - another step forward.

1. Could the cost of law school (100,000 x tax effect of 40% plus ~60k annual salary times three years = $320,000) be justified for my vision of a sole prop. or small CPA firm that also offers legal services (likely estate, wills, controversy)?

2. Would the JD on top of the CPA garner more respect in the eye of the public or potentially have clients more worried about high fees associate with lawyers?

3. Would it be necessary to get law experience with another firm before opening up my own business? Like many before me, I don't do well playing office politics and brown nosing but could potentially 'suck it up' for 1-3 years if it were necessary.


Additional information:

28 years old, 2 years small CPA firm, 1 year respected regional firm.

My GPA isn't the best, 2.78, so even with my CPA and work experience I would have to nail the LSAT very well to get decent 2nd tier law school. (as I look at the numbers, with a good application its definitely possible but thats with an LSAT of 160+, 165+ would be better).

Recently laid off (position 'eliminated') from regional CPA firm so I have plenty of time to sit for LSAT and plan my next move.

Considering North or South Carolina, Philadelphia or maybe even San Francisco area.

Thanks in advance.

I am a CPA with approx. 5 years auditing experience that went to law school at 28. Unless you really want to be a lawyer DO NOT DO IT. Based on your post you are interested in your own CPA practice. If you want continued education get a Macc, Tax, or MBA. While you are in school for that program start attempting to aquire clients. You are already a CPA if you want to own a CPA firm that is all you need.

"Considering...or maybe even San Francisco area."

California, hunh? Well...if you are looking at working in California and having your own firm, solo or small partnership, I guess? what you really want to do is become a licensed attorney, right? This can be done "bare bones" only in California for a great deal less money (but a whole lot more work) through one of the two or three on line law schools that state recognizes. Don't laugh just yet, but consider:

-the public has no clue about law school prestige. All they know is "lawyer" or "not lawyer."

-law firms DO know and care, but you won't have to worry about that because you intend to work for yourself.

-graduates of these programs DO pass the notorious California Bar Exam every year.

-it's much, much less expensive than any resident program.

Anyone with more answers would be greatly appreciated. No one has addressed the questions I've asked just yet. Many Thanks!

CPA Going Back: I'm interested in both, just not running a CPA firm. My fathers runs a very successful tax CPA firm sole prop but I'm considering the next step, what could make it better? And to better myself and my education... plus I've always been told law is right up my alley.

SW: thanks for the California info... very interesting point that the public only sees "lawyer" and doesn't care about the rest. I'll have to look into that further but I'm likely prefer to have some mobility options.

CPA that went back: Also I'm curious what benefit you see in getting a Macc, tax of MBA for a self employed individual. From what rumors I've heard it doesn't actually add much to your capabilities (especially with regards to running your own firm/sole prop venture) but is rather the next step to moving up in corporate America.

Would like to know your thoughts...