Should I leave my job?
I have been working at a very small tax firm for about 8 years. After I got my CPA license almost 5 years ago, I opened a small firm on the side to handle a few new clients who had directly approached me.
Over the years, this firm that I have on the side separate from my day job working at another firm has grown and grown all pretty much on its own. So much so that I feel as if I am always working and have very little time, if any, for anything else.
My wife and I just had our second child and upgraded to a new home last year. This has by far been the most difficult tax season for me by far.
My firm is also now generating right around the amount of monthly revenue to cover all of my monthly expenses. I am considering either dropping to part time, or leaving all together, for my main job to mainly focus on this small firm and improve my overall quality of life. I am nervous to do this as I feel it is a big step and am curious to hear what others who have had similar experiences may have to say.
With all of this being said, I also have had a verbal agreement to purchase the firm that I currently work at when the owner retires. The problem is I fear that he will never retire. We are supposed to implement this deal sometime in the next year. The issue is that the deal he has laid out is extremely one sided (against me) and I do not believe there is any room for me to make any adjustments.
I am heavily considering not purchasing the business and just shifting my focus to my own firm from here on out. I would love to hear from others that have had similar experiences and also can offer some guidance on what you think I should do.
Thanks!