ap2541, thanks for your reply. I'm afraid your interpretations are not quite in line with my situation:

1. I have passed CPA qualification test last year, and am working as an accountant in a manufacturing concern. Once I acquired specified length of accounting work experience I can apply for a CPA license in the US, which is roughly 4 month away from today.

3. The bussiness I am thinking about engaging in is accounting and tax services which, in the US, does not require a CPA license unless I am also interested in auditing. Therefore, eventhough I would have my own CPA license, a license is not an issue here.

4. I have never worked in any professional firm before. In fact I am quite new in this line of business. Perhaps this explain the "emptiness" in several "yious", that I need more practical work experience before starting my own business.

5. I consider myself a person of integrity. And I am old enough to know the serious consequencies of breaking laws. So, the possibility of me cooking books for clients or engaging in any illegal transactions are next to impossible.