/biz/ - Business & Finance

Just one sugar in my coffee, thanks.

>>1412
do you make a lot of money

Does that stand for Child Porn Advocate?

>>1412
1. Are you qt?
2. How do you best deal with multiple currencies in one book?
3. Accounting software of choice?

>>1412

Do you work for Big-4?

>>1412
>licensed certified
How does it feel being redundant?

>>1412
>Ask a Licensed CPA anything

Is it too late for me to get an accounting degree and land a job in the Big-4?

>male / 26
>college dropout since 2008 (has earned credits equivalent to sophomore)
>has genuine interest in career in biz

>>1412
what do you think of my situation OP

>currently NEET
>graduated to be a CPA
>passed all the tests
>had a temp. job last year at a big4 firm
>ended last March
>out of work since
what can I do? ;_;

Can I go anywhere in the world with a degree in accounting+CPA?

One of my dreams is to move to Japan and live the Otaku Dream.

>>1484
Not really I've only been one for roughly over a year now. I'm sitting at 60k USD before tax. I dont consider this a lot of money but some may.

>>1526
This guy

>>1533
1)Maybe but having a desk job hardly keeps you in shape
2) I've mainly been in tax I haven't really done audit as much as I would like so I don't feel comfortable answering this as my experience is rather limited.

3) I don't really have any favorites most have their flaws, I've used quite a few tax software from personal use to professional use. Normally I'll use TurboTax simply because its given to me for free. Generally I go back in and reference things to make sure they're done properly myself (I'm a stickler for detail, curse of an accountant) but a lot of it has became fill in the blank.

I will say what upsets me the most is that most big auditing firms end up sending your tax returns to india and have them do your returns in an effort to cut costs.

>>1412

What's it like knowing you'll be made redundant by Intuit?

>>1748

NOT OP... but wtf man? Did you not make connections after your temp gig was over?

>>1914
i'm socially retarded (zero friends in real life). I didn't make any good connections

>>1575
Maybe

>>1594
This is the most annoying thing I've dealt with because some states are two tiered and others are single tiered.

>>1687
Sadly yes the big 4 only recruit straight out of college and expect fresh blood. However they require you to work way more effort than it's worth. It looks good on a resume though.

Don't discount your accounting career because of this. Other companies will certainly look at you just make sure you have work experience. Once you get that you can go to the big 4 but trust me its a lot more work than it's worth. The good thing about the accounting field is that there is generally always going to be a need for doctors and accountants. Of course as accounting dictates theres always an exception to the general rules at times :P


>1748
Did you meet the work requirement for your state to be licensed? I know each state is different. My best advice is get back in the job market ASAP even if it's something small the longer you're out of work the worse it looks when you apply. Get a job that may not completely be what you want just for the sake of getting it and do your CPE requirements.

>>1791
Sometimes yes but a lot of the time just starting out you're not going to have that choice. It's hard to be put on these situations but as the CPA is becoming more widely recognized the opportunities are increasing. Canada recently got rid of all certifications outside of the CPA for instance

>>1873
Not true at all but it dumbs down the process. Accountants are needed to exercise their professional judgment some of the cases I've seen are pretty interesting what individuals want to claim and how loopholes are formed.

That's solely from the tax side the audit side will never be replaced simply by a software though. It is far more complicated than that

>>2095

Interesting, I didn't take into account the audit side of accounting.

4th year accounting major here, graduating this year. Feels good having chosen a stable career.

Though, I don't want to work for big 4 because they're going to work me to death. I can still land a lofty controller/manager type job, with experience from other national/regional firms, right?

>>2204
You're asking the wrong person here sorry I'm not that old. My opinion though is that having the Big 4 in your resumé will greatly increase your chances. It's literally just something as a filler and people will say "WOW THIS PERSON WAS FROM DELOITTE FOR TWO YEARS"

Obviously connections are key though. How come you didn't opt for a general 3+2 program though? Isn't a master's required for the CPA now if I'm not mistaken?

>>2018

would you say your career that you pursuit is no good for people like you and me? the thing with me is i don't generate long-term "friends".

Also, I think I got the knack for becoming an acc+cpa just like my mom+dad and my sisters...

>>2199
Auditors are basically a form of financial lawyers that attest that their clients shit is legit. Everyone wants that standard unqualified opinion or else they can't get loans or their rates will suck ass.

>>2279
Masters or just enough credits. I'm just going for credits since I'm poormode. Glorious federal and california grants give me free tuition and money for books, parking, etc... for undergrad, but I'm going to have to get loans if I want a masters, and you don't really need one.

>>2425
Ah your state must be different than mine. Mine requires a masters at this point. (Although when I tested, it wasn't required)

You should make sure you register before they add additional requirements.

>>1412
Where can I score some cocaine?

>>2293
I'm kind of awkward, and firms don't want an awkward guy around important clients.
if you're not socially retarded you should be fine

you can try getting into Tax too, as that requires less client interaction

OP, are you a normie or are you shy?

If you're shy, how do you deal with interviews? When I had my interview at the KPMG office, I couldn't quite navigate my way through the lunch convo and just listened. Though, I managed to somehow get through the regular interviews.

They were talking about sports and crap, and I've got no knowledge of sports...

>>2030

I am this guy>>1687

I wanna get back to college and take ACC+CPA. By the time I graduate I'll be 30-31. I am single and have NO other obligations so I think my target timeframe is realistic.

Will Big-4 still hire me at age 30-31 fresh out of college? I hear from my older sister (also a CPA) that Big-4 gig is the best place to earn experience... she says even if you stay in Big-4 for just 2 years you can go ANYWHERE after that (if you get out of big-4). My younger sister got into Big-4 (PwC) just fresh out of college during the worst period of the Great Recession (2010)

>>1412
Tax or Audit?

Ive been running a business for over a year now with no contact to the tax authorities. 99% of the takings are in cash and i dont give receipts.

How fucked am I?

>>2717
I'd say I'm normal but I certainly do have anxiety. I deal a lot better with thinking things through on text based than in person. You dont have the anxiety of trying to catch everything they have to say while thinking of a response you can wait.

Interviews in general, I prepared, prepared, and over prepared. Knowing what their company does, what they invest in, publications they might have done, questions they may ask with prepared answers in a fashion that seems genuinely thought of on the spot etc.

Lunch convos add too many extra elements as you are now focusing on eating drinking as additional elements and you don't want to make a fool out of yourself. Take small bites and small sips and make sure you properly use each utensil, you don't want to come off like a slob or a pig.

If they're talking about a topic you're unfamiliar with look for the opportunity to derail it onto one you are familiar with. Don't make it too obscure like "Oh hey speaking of sports that reminds of when I was in accounting class and someone accidentally their spaghetti out of their fanny pack"

Aim for something subtle you have to be very careful on how you approach and even make something up. Just remember once you start you have control of the conversation so direct it anyway you want to and don't make a fool out of yourself. You want to slowly ween away with what little knowledge you have apply that and put it on a topic you have more knowledge and engage in that. Make sure the topic is comfortable on both sides things like this may have been tests to see if you fit in their "corporate culture"

>>2809
Like I said before, being older doesn't bode well they're looking for people with time and room to grow. They're less likely to hire you but certainly not impossible. Also certain schools have much higher chances of getting hired at certain big 4 firms as they recruit specifically at schools. My school was mainly by PwC, and it was once every 5 years that maybe one person would get hired by E+Y. This is regardless of the fact that my school was in the top 3 pass rates of the CPA in my state and one of the most accredited schools.

Like I said it's not impossible just less likely I wouldn't bet on it but you certainly can try and you certainly will have opportunities elsewhere

>>3019
Why don't you answer my actual question >>2937 instead of writing rambling essays to teenage neets>>3019

>>2571

Is it "socially retarded" if you just wanna get straight down into business kind of talk? That's how I picture myself doing it

>>2872
Tax mostly

>>2937
Dunno how well are you at hiding it? Old rule of thumb is that if a receipt isn't generated a sale technically never happened.

If you were smart on how you deposited things you could hide most of it. Although you certainly should show something that seems reasonable.

What kind of business are we talking about here?

>>3140
I actually did, not sure how this is supposed to encourage me to give you anymore attention than I have already.

>>3233
Im mobile so I have no premises. Never deposit cash into my bank unless it's to pay bills that I can't pay any other way. No major purchases like property. Just cold cash that I keep in a drawer. I do have online advertising, and I was incorporated as a LTD. until I wound it up.

>>3129


How would you rank this school?
>University of Nevada, Las Vegas

I know it's not USC or BYU-tier school for accounting, but my younger sister got poached by PwC after graduating there.

>>3019
Thanks. I suppose I should practice derailing convos, then. I was just having a hard time keeping up with anything and kinda got lost.

Also, what are the realistic chances of getting a CPA firm job with a low 3s GPA? I know I need a minimum of 3.5 or something to even consider big 4, but I switched majors half way and I've been working while doing this major, so I'm just scraping by. Last semester, I even fell ill for about a month before and during finals week and got two Cs where I should've at least gotten Bs....

How do you not blow your brains out every morning you wake up? The business program at my school has several required accounting courses and it is so incredibly dry that I would honestly rather have teeth pulled than be an accountant.

>>3341
Well what were the sales consistent of?

"Business" is very vague and I understand why you might want to keep it vague.

At least give me an industry to work with

Also how much cash are we talking about roughly?

>>1412
Why aren't you a CA?

>>3451
What? Intro to accounting is easy as shit. I didn't even touch accounting until then, all you have to do is do homework and read the textbook like any other intro class to anything. I sure as hell liked learning about how the business world actually works rather than listening to another history class or someshit.

>>3451
I had really good teachers nothing more to it. Some teachers were rather poor and others made it appeal very well.

>>3353
Sorry I don't really feel like doing research on schools. I don't know anything about that school. Not saying good or bad, just I know nothing

>>1873
>Intuit
>Long term

http://in.reuters.com/article/2014/02/11/intuit-results-idINL3N0LG4GQ20140211

http://www.nbcnews.com/id/54360640/ns/business-us_business/

>>3498

>all you have to do is do homework and read the textbook like any other intro class to anything

My classes have required me to meet multiple times weekly with a group of other people to work on huge "cases" where we run accounting work for corporations. Additionally, there's weekly online tests that require you to watch 5 hours of lecture videos online in addition to attending 2 in-person classes a week. Maybe you just went/are currently going to a shitty school.

>>3490
You do realize Chartered Accountants are being phased out in Canada and being conformed into CPA's correct?

why are you taking a job that google can do for most people for free? sort of like going to college

>>3588
Actually, mine is one of the better ones in this area. Though, that class sounds like a bitch. I mean, I did that for intermediate (sans video shit), but for intro? Nah.

>>3588
This is an intro level class and not a 300 level class?

I don't see how in an intro level class you'd have the base knowledge to run accounting work that's normally at the 200-300 level

>>1412
Client is an idiot. Incorporated but has no clue whether he made an S election or not. Filed the first year but cannot find paperwork. Did not file the second year and is currently trying to file currently - the third year.

What kind of penalties and interest is this prick facing?

>>2018
shits annoying right. They make you do these dumb ass meetings every other day and team lunches as well. Fuck, i thought accounting was for the anti social.

>>3129
I'm this guy>>2809>>1687

Just in case I don't get picked by any of the Big-4... where do you think its the best place to start just fresh out of college:

Also,
1. Which American region generates more ACC hirings and pay?
2. Which sector is fluid and more open for opportunities (like CEO)?
3. Which (non-government) sector is most stable?
4. Is pursuing government gig with ACC+CPA any good in terms of pay?

>>3593
Yes but Chartered Accountants are still a much more feasible global accreditation

>>3669

The pre-reqs for it were pretty nuts, although none of them were explicitly accounting. I'm currently in the second semester course (there's two that are required for all business majors.) The first course really didn't pick up until about half-way through the semester, this one has been going pretty strongly since the beginning of it. The class also seems more difficult than what it actually should be because the exams are done by hand with non-graphing calculators only and no partial credit is given so if you make a simple math error on a single question you've just fucked yourself out of the next 15 points worth of questions that build off of it.

>>3692
>Incorporated but has no clue whether he made an S election or not.
>Filed the first year but cannot find paperwork
>Did not file the second year and is currently trying to file currently - the third year.

Let me make sure I understand this correctly he has no idea what his status is currently and possibly has tax evasion for two years straight?

>>3843
Dont think that would be classified as tax evasion - just negligent failure to file. Again, he filed first year but not the second.

Went to some shady acccountant no doubt and handed him a years worth of bank statements - he did no bookkeeping. Like I said, total idiot.

>>3903
>no bookkeeping
Could it be considered a hobby, then? So if he had losses he can't deduct?

>>3711
Sorry like I said I'm not too experienced to be able to answer most of these questions but I'll give my best judgment. I'm someone who was picked up by a firm and quickly rotated into taxation.

Right now the most stable non government sector in my opinion is the health care industry. Most job opportunities I've seen focus or have some interaction with it. There's lots of interesting issues too with medical billing because of how fast fixed assets get bought and sold and at what amount to actually book revenue at for hospital services.

Government gigs normally aren't as good with pay however you work significantly less hours and get great benefits.

Rest I can't really answer sorry.

>>1412

Any decent forums out there strictly for accounting and CPA related discussions?

>>3988
Nope. Profit motive exists and a host of other shit. He's clearly running a business. One thats profitable but he has no concept of the administrative process behind it.

I'm thinking he's going to get done for;
failure to file
Failure to pay
Interest
The tax due that he didn't pay
Plus not filing forms 940 and the like

Hes in deep.

i made about $7k last year from shitcoin

what do i do? can i just keep it under the radar?

>>4071
also mixing personal expenses in on business account. Its rare but I think its to the point where it might "peirce the corporate veil" - no more limited liability.

Not that it mattes because as far as I can tell he doesn't need it. Hes got no loans and the shit he does isn't likely to result in any lawsuits.

>>4073
You can't ever ask an accountant that directly. There are ethical rules which need to be followed. The standard response will be "typically you must pay taxes on all sources of income however derived." wink wink

>>3903

It may or may not be, hence why I said potentially.

What raises a lot of red flags is the fact that he claims to have no knowledge of what his status is, can't produce documents of the past tax return, after claiming having knowledge of knowing to file a tax return refused to comply the second year.

So either the first year seemed to have had a tax return and he can't produce it and completely and knowingly ignored it the second year.

Or the first year never happened and he's lying about it and didn't do it the second year as well.

The fact that he doesn't know his filing status and those facts in the past are really alarming this seems like a high risk case for you/ your firm to take responsibility for.

This is a case for consideration of disassociation unless he's a big customer, are you sure he's just an idiot?

How are his records for year 3 looking?

Cool thread, OP.

I'm doing both Tax and Audit classes right now, and these are actually not bad at all. I was expecting two financial/managerial type level stuff and shitting my pants before starting, but right now I can comfortably take on both of them in addition to a few other classes. If these types of threads persist, I'll probably be asking a lot of questions.

>>4152
ask bitch, you got two accountants in the thread.

>>4156
well fine just answer the question more generally. at this point from what i understand even the IRS doesn't know what to do with shitcoin gains.

>>4179
Well, I'm alright for now. I'll probably start asking more if midterms kick my ass. Though, I should fair pretty well considering how manageable this workload is right now.

Though, I guess I could ask what made you pick tax vs audit other than the usual "I can't stand being inside all day, I want to actually talk to clients" or "I prefer desk work" type thing.

Do you have one of those clear green brimmed hats?

>>4161
I've already considered the factors you listed and decided that I wont do it. Hoping to eschew risk by providing bookkeepign work solely.

Personally, I don't believe he is that thick. He helped out a buddy of mine and my buddy wants me to help him.

He has no bookkeeping process in place. He makes 80K so its a very small company. I'm not with a firm - just something im doing on the side.

Also, am I being sufficiently vague in order to avoid disclosing client info?

>>4071
Also I forgot to ask did he file for any extensions?

>>4156
>CPA
>ethical
>Implying gazillions of CPAs don't complete "40 hours" in 12 hours of CPE online.

>>4073

Have to pay tax. What were your expenses though? You may be able to deduct some vidya cards.

The truth is though as long as you never convert your shitcoins into fiat it's going to be fairly hard for tax authorities to trace. I'm a tax attorney and this was a quote from one of the partners when I was explaining bitcoin to him: "Tax authorities are having enough trouble dealing with online transactions using fiat currency, this stuff is just way beyond them".

I think what we've seen though is that for the most part they target the exchanges as they are the big boys. This is a usual strategy by the tax authorities, they focus on those at the very top to make an example for all the others.

you in this thread ilija

>>4236
Uh, yes they do. Code section 61 "ross income means all income from whatever source derived." Your gain is taxable.

>>4271
Technically no but it's the internet and we're all anonymous here. You've given a fair bit of info on his case as those facts are rather unique. I wouldn't reveal more

>>4305
well yeah that's the thing. i cashed out about $7k with bank wire from mt. goy

so you're saying i should definitely file?

>>4031

Thanks lots for you response.

Also, what's your specialty, or special focus as a CPA?

Also(2), do you think you have some free time to make more threads like this now that 4chan has business section? Will you also create guides for self-study?
I come from /a/ and everyday there's a daily Japanese Study thread complete with study guides and stuff (example: http://boards.4chan.org/a/res/102030675).).

>>4356
Maybe I'll come a bit more I only came because it was interesting to see this section come up.

I probably won't make guides but I don't want to say I won't at the moment I'm just killing time and procrastinating on something I should be working on.

>>4355

Yes, you should file and it would be smart to also deduct your costs (video cards etc). I would be careful though because the IRS may try to claim you're not running a business, but rather just a small hobby.

A few ways to avoid scrutiny is to not have costs larger than income, write up a business plan for your shitcoins and keep proper records.

It's what I'm doing.

How the hell do you study for this shit? I'm a business major and have lots of accounting classes, and friends who are accountants. I don't get it, do you memorize all this crap? Or is it as simple as using pre programmed software and typing in numbers?

>>4356
>>4416
oh right I forgot to mention it's tax. I really want to get into auditing though. Tax accounting was something that clicked more naturally I guess and it's where my opportunities are currently.

>>4465
>as simple as using pre programmed software and typing in numbers?

You've stumbled upon our secret good sir. Its almost as simple as that for tax guys. Probably not for audit.

>>4465

My nose stores all the info

>>4465
Constantly reading, writing, and saying it to yourself. A lot of it is memorizing details but a lot of it is also just logical thinking. You have to memorize the basics in order to go through the logical thinking.

>>4492
lol. Don't all our noses
>>4495
A buddy of mine just passed his CPA. He said it was a ridiculously difficult thing to study for. But he also already works for a major firm. And he tells me that the handwork comes in the form of being able to sit for countless hours staring at a computer screen and numbers. As far as his actual knowledge of accounting laws and practices it's not much. And also according to him, you don't really need to know much. Just how to use the, and look at books every now and then.

>>4470
sorry to disagree but he clearly cannot deduct those expenses. Anons got a capital gain taxed at 20%.

Maybe he couldn't have investing expenses to offset the investing income but id have to do more research.

>>4465
You memorize rules.

Use anki or something if you suck at memorization.

>>4470
well i didn't really mine. i just threw $1k into it back in '11 and bought like 200 of them.

>>4553
Well what about Financial Analyst or Advisory? As I said I'm a business management major but am about to start my 3rd year and was thinking of actually getting into something more specific. Everyone on 4chan says it's a terrible job. but I know several people working in Finance who started off with over 100k a year, and another kid who started at a brokerage for a little over 50k with lots of leeway for growth.

>>4470
what are the odds i actually get audited? why happens if i try to fly under the radar and don't file?

i literally have no income at all and already spent the $7k i withdrew

>>4568
Speaking of anki, could those who've passed their CPAs tell me which sections of the CPA could more or less be passed by shear memorization? Because I passed JLPT1 in under a year by just autistically doing reps on anki, I'm sure I could do the same for the memorizable sections of the CPA, and probably faster than with Japanese.

>>4416

something popped in my mind...
Is fraud & forensics a growing specialty in accounting?

Also: Tax vs Audit for a CPA firm... which one of these is better suited to those who aren't that sociable?

>>4687
Tax tax tax tax. Audit is for socialites.

>>4603
>>4650
you've got 6,000 of capital gains. You've got no income which means your standard deduction and exemption will likely mean you wont pay anything. You could probably ignore it with little consequence though obviously its recommended that you file.

>>4687
Fraud & forensics has certainly gotten more attention in more recent years after Enron that's why most classes stress ethics VERY hard now.

Tax definitely tax

>>4650 did you give paypal your SSN?

I actually think tax would suit me better, but I'm going audit because muh-turbotax could probably reduce tax jobs, even if they aren't eliminated.

Audit seems like a much safer route in terms of market security.

>>4582

Why do you say he clearly cannot deduct those expenses? If you run a business of shitcoin mining with a mind towards making a profit I don't see any reason at all you can't deduct your costs (video cards, electricity etc).

>>4650

What is your total taxable income anyway? It might not even make much of a difference.

>>4687
dude, they make you do a shit ton of meetings and get togethers. If your in audit, your going to have to have lunch with the staff of the audit client etc. You have to have a degree of sociability.

>>4672
AUD and FAR seemed more memorization

BEC and REG I actually didn't study for some of those sections. Again though Tax comes more naturally so this isn't the same for everyone

>>4687
Tax is just a bunch of people sitting around in an office 90% of the time. It's very common for people to even just sit there wearing headphones while working on an ITR.

>>4553
>Constantly reading, writing, and saying it to yourself.

are we DJT even here now???

My dad was a CPA certified in the 70s. I inherited his book collection and a big number of books are study materials for the CPA exam. Are these books worth anything? Could I donate them to a CPA-to-be? Or does being outdated make them worthless?

>>4760

I work in a big 4 tax office (not US) and we already outsource the vast majority of our tax return work anyway. I spend all of my time doing advisory work which means a lot more legal-esque work than most people would usually associate with tax.

>>4780
Alright, I'll probably make myself AUD and FAR decks by copying shit from prep material.

>>4738
>Data mining bitcoins as a business

How important is school? I'm currently an Accounting student in an ACBSP school not AACSB.

What's the minimum GPA for most accounting firms?

>>4750
what you talking about paypal?

though i probably did it give it to mt goy at some point

>>4816
>70s
Chuck it away. That's way before even Sarbanes Oxley.

>>4824

Why not? If it's not something you are doing for fun, but are rather doing with a mind towards profit I think bitcoin mining is what the IRS would consider a business.

The fact that the vast majority of bitcoin miners aren't just trying to deduct stupid costs but actually have income to report is a huge indicator that it's a real business.

>>4830
Exactly my fear. I don't want my job to be in danger of outsourcing. Yes, there will be consluting jobs, but those are fewer than the ones you're outsourcing. Audit would give me more security due to the nature of the work that requires a lot more direct contact with clients.

Anyone who is anti social and is thinking accounting is a good fit is delusional. It does not fucking work like that. I've had three fucking lunches and two goddamned meetings and its only thursday.

>>4896

That's the wrong way to think about it. Get in now, develop consulting skills and have a *good* job that isn't easily outsourced.

Trust me, you don't want to be doing tax returns every day for the rest of your life.

What the fuck is H&R Block?

>>4896
This is mostly not true. Sure, teh big guns outsource the shit out of their tax work. But tax law changes every goddamned year and you need someone who knows the client in order to know whats best for the client.

>>4830
I said this at the beginning, not sure if you saw it. This is what upsets me :(

>>1856
>I will say what upsets me the most is that most big auditing firms end up sending your tax returns to india and have them do your returns in an effort to cut costs.


How do you feel about this?

>>4727
>>4740
>>4750
>>4769
>>4740

I can be "sociable"... as long as me and my (hypothetical) peers get straight down into the business and eat chinese food delivered to the office. I think i'm too serious and I lack "soft touch" approach... will audit types hate me?

Anyone from Canada here? All you need is an undergrad then you can became a CPA right?

>>4907
You're telling me, it's harder to keep the weight off

>>4927
>>4965
Well, there's also a totally unrelated reason. I'm considering leaving the states, and audit skills would be far easier to transfer to another country. It's not even IFRS, so I can't just hope for convergence.

>>4886
on the face of it, it sounds ludicrous to me. I'm sure the IRS agents will take a similar view. Not to say that it isn't possible but id wager anon and the vast majority of people involved are not in it for business purposes.

Then you get into whether its investing income or ordinary income. I'd wager its the prior and that leads to a whole host of other shit. Primary among them is the limitation on passive activity loss.

>>5022
Might wanna reconsider that. Accounting (and commerce, business, whatever) are somewhat protected career paths in foreign countries. I tried to do consulting work as an ex-pat in Singapore and ended up having to fall back on my software engineering skills for stable income.

Not saying it can't be done, just that it's generally a tough sell, especially if you're not an honors graduate from some tier 1 school. You don't appreciate America's preference of skill over pedigree until you've lived abroad for some time.

>>4973

As someone working in the industry? I'm happy. I come from an arts/law background so I'm very happy to be able to focus on what I'm skilled up in rather than something that I find boring.

The truth is that all of those compliance jobs (including a lot of what the guys in audit do) are dying off. The modern accountant, in a 1st world country, needs to offer something more than basic compliance work.

There will be job losses - but the jobs for those who get to stick around will be far more fulfilling.

>>4907
>eating out
>boardroom meeting

hey, I can handle that (especially eating)... and the latter i'd like to get into ego fights with those i have a beef with (with their work or attitude)

>>5108
whats so fullfilling about stressful days, long ass hours, and the prospect of working 60+ hour weeks (including saturdays)?

>>5129
It's not an issue, I've got dual citizenship.

If I make a web page for a non-profit. Call it a donation. Log my work and get receipt. Can I write that off as a charitable donation?

>>4983
We don't normally eat chinese food delivered to the office. Lunch meetings at yum cha is far more common.

>>5059
Ludicrous? Why exactly? They invest time/capital in a project and the only real reward they get is monetary. I think it's fairly obvious it's going to be a capital gain.

>>5152
I enjoy being stressed. It's far better (at least for me) to be busy and stressed all day than it is to have nothing to do.

>>5152
It's hard to get jobs that pay well and have reasonable hours. If I'm guilty of one thing, it's that I like stuff. Stuff is expensive, so I work long hours to buy neat stuff.

Trust me, I wish I were different, but I can't change. If you can live a happy life in a 9-5 making 50 grand a year, good on you, but I need more than that to finance my lifestyle.

>>1412
For someone who is self-employed AND has a wage job, which do you normally suggest: extra withholdings or paying your 1040-ES?

Also, can I be penalized for not anticipating a major jump in my self-employed income, or do they look only at the whole estimated/total taxes paid for the whole year?

>>5108

It upsets me quite a bit as not all clients are aware there work is being outsourced and submit them under the assumption someone from the Big 4 is working on them.

Not to mention now we become liable for someone else's work and I feel they may not be nearly as experienced or professional about certain tax positions.

I don't think compliance audits will ever completely die off. If we swing back into that category, it goes back into a position of where Arthur Anderson did in my mind.

Becoming a consulting company seeking revenue and disregarding way too many obvious things that shouldn't be overlooked

>>1412
What sort of careers would you recommend to an accounting/finance double major undergrad?

What's your opinion on the valuations field?

I'm currently working for as an accountant for a fairly large corporation. Would you recommend leaving in favor of working at, say, a public accounting firm?

Does working at an accounting firm really increase your prestige?

>>5152
I'm a buyfag. Accounting career lets me buyfag like nuts.

>>5233
Nope. Do you want source or are you satisfied with answer?

>>5282
Couldn't he write off domain registration/hosting costs, though?

Is local accounting viable? I want to work at home.

>>5276
May not be 100% right but if your tax liability is greater than 1000 then you may be penalized for not making estimated payments. Just make the freakin payments. Going through the w4 route is not a good idea.

I'm 24 and want to go back to school to get a degree that will actually make me employable in the future. Would you recommend accounting to someone like me, as opposed to finance or computer science?

>>5277

It depends where the work is being outsourced to. My office isn't outsourcing to india, just another company within my country that happens to employ people far cheaper to do tax returns.

I agree that it is somewhat disingenuous granted the rate we are charging. However, the reality is that in the end we do provide a more thorough service than they would get if they went directly to the tax return company.

I agree compliance audits will never completely die off, but I think like tax returns it's something that's going to be less of the bread and butter for the big 4.

>>5315
Probably but wouldn't the charitable organization be footing the hosting costs? Thats how I took anons question - all he is contributing is designing the webpage.

>>5152
>>5256

I'm sure there are people who wanna trade hours for more $$$money$$$ because they wanna keep buying and collect anime swag (figurines etc)... buy audiophile headphones and speakers and stuffing aftermarket parts to cars. Materialistic people living in the material world. They keep the cycle of economic engine going!

>>5386
We're saving America!
http://www.youtube.com/watch?v=DNSUOFgj97M&feature=kp

>>5386
just think of it, all that swag and no time to enjoy it.

>>5386
Yes
http://www.youtube.com/watch?v=93oihEbeKmw

>>5386
What if I'm the opposite and I want to get a job that gives me the most freedom yet pays enough for me to afford a comfy life ?

>>5427
Sysadmin. Go ask /g/. Leave this board and never come back.

By the way, since there appear to be a few people from the big 4 here I was wondering if we could find out which is the favourite amongst 4chan alumni.

I'll start:

d-deloitte...

>>5447
I'm interviewing with Deloitte next week, but I want a consulting gig at Accenture. My resume is garbage though, so I'd be happy with anything.

>>5447
Deloitte recruiters seem to be tight asses from what I've seen. But what do I know.

>>5376
I think Arthur Anderson already proved what may happen once it becomes less of the bread and butter for the bigger accounting firms.

At least that's the first thing the media will certainly take a shot at. It's rather alarming at how the Big "Insert number here" keeps on shrinking and now we are at the "Big 4"

>>5350
Well, the tax liability would greatly exceed that, yes.

Problem is that my self-employed income is highly volatile (as low as 1400, as high as 6000 in a month), and I don't like owing at the end of the year. What I ended up doing in 2013 is using trends to calculate extra withholdings so that I wouldn't owe much.

Blah. Nothing stopping me from making extra payments beyond me ES payments if I feel the need to.

>>5484
/thread

>>5491

You trying for deloitte consulting?

I'm guessing you're an ausfag since accenture is far bigger here. Which office are you interviewing in? If you're interviewing in Sydney Tax, good luck if not asian.

Sydney tax grad recruits for 2013 were 95% asian.

>>5332
It is viable but you need to have a client base before hand otherwise it's much harder to get work. I haven't done this

>>5367
Yes but I'm biased

>>5478
It's going to depend where you are. Where I'm from KPMG tends to recruit the most attractive bimbo/jock types.

>>5367

I'm 26(m) and I'm in same position as you.

I asked OP about me the chance for someone in their late 20s to early 30s landing a gig in the Big-4 after graduation... from the response it reads the big-4 only wants those in their early 20s.

>>5562
Bullshit.

Big 4 wants anyone smart. I started at 25, so did my manager - we both had law degrees though.

>>5502
safe harbor provisions son. If your payments are within a certain percentage of your prior year tax liability you can avoid the penalties. Look it up.

Also, you make 4 payments. Your guess as to what your tax liability will be will get better as time passes, so adjust as you go but seriously look up the safe harbor provisions.

Anyhoo, enough free tax advise.

>>5528
Murica. University of Washington bizfag. We tend to secure a decent number of consulting spots, but I'm definitely not coming into the interview with any great experiences to speak of. I'm just happy to get a chance.

Worst case scenario, I work in customer service at Amazon or something.

>>5582
churn and burn

>>5562
Meh, that's fine. I just want something better than what I have now. What do we have to lose?

>>5367
>>5562

For an entry level position that's mostly the case. It doesn't lower your opportunities too much just with the Big 4. If you have relevant work experience that's recent that changes things up some

However from what I've seen is that unless you have significant work experience you're going to be turned away because those big firms only target specific colleges and get them fresh off the boat. The older people are far less often recruited.

Again though I could have a bad sample size but older people are generally viewed as having less ability to grow in the company. (unofficially of course) So more often than not they're quickly discarded or if hired kept in positions with glass ceilings.

>>5664
Intense jobs are like that. It's still a good line to have on your resume.

>>5723
boy, your fully entrenched in the corporate philosophy arn't you?

>>5417
>just think of it, all that swag and no time to enjoy it.

just the mere sight of this in your room will relieve all your stress away!

now imagine buying more others like it... I'm sure my stress will be drained till i pass out

>>5804

If you're not it's hard to survive.

>>5804
Have to be if you want to succeed. Knowing the politics is half the game

>>5841
Exactly.

I see these poor fucks who were senior analysts when I was an intern and they're STILL senior analysts with me now. They can't even fucking break manager but they DON'T LEAVE.

>>5367
Do you already have a degree? Because if you do, regardless of what it is in, stay the fuck away from more schooling. I really fucked up going back to school to get a second degree in business. Totally useless, even though it was from my state's flagship university.

The companies that recruit at school want first-time grads, not repeaters. Push forward from where you are and get an MBA or something in the future. It's fucking hard, but it's a better option than going back. (disregard this if you're talking about getting your first degree, though in that case I would recommend CS over the other choices).

>>5892
They never do. They just don't understand, or care to understand, what kind of position they're in. Kind of sad, really. I even try to encourage them to jump ship, but they look at me like I'm speaking Chinese or something.

>>5928
Actually he could do a master's in accounting, provided he took some math as an undergrad, but there are only a few programs worth the cost of tuition, and he probably doesn't have the kind of work experience they'd want in candidates.

>>5892
>>5966
Yep x 10

They're comfortable and safe. Things have become routine so this is probably one of the things they take solace in not changing.

It's funny once you see someone get passed for partner as well thinking they'll get a second shot. The smart ones realize it and get out other ones figure what's the point.

To be completely fair after 100k annual salary in my mind you don't really need much more than that which is probably how they rationalize it. However I'm a bit simple in that regard.

>>6046
Comma's elude me this will probably be a hard read but we're on 4chan so w/e

>>6046
Where do you live, anon. I wish 100k annual salary was worth that much here in southern california...

>>5723
>late 20s to early 30s
>too old!

>>5562 but but I'm (still) young at heart!

I'm also healthy since i'm NEET right now and do jogging and workout routines.
I'm also self-studying accounting (principles) so when I get back to college it will be a (somewhat) a breeze!

.......

Besides watching chinese cartoons, I'm also immersing my mind today in the language of business.

>Free lecture videos (ORU)
http://www.youtube.com/watch?v=QPhf1Dw9TeI
http://www.youtube.com/watch?v=URKaN59YOF4

>>6046
I can't play politics for shit, so I have a feeling I'll be they type that gets passed over for partner. I like to believe that I'll be reasonable when it happens, but I always worry that I'll go on a rampage and burn bridges. I'm fucking petty.

>people talking about partner
Y-you guys want to stay long enough to be partner?

I just want to get my experience and get the fuck out into a nice lofty job out in the private sector.

What are entry-level accounting jobs? Is doing A/P, bookeeping even accounting?

What's the minimum GPA for most Accounting firms?

>>6102
100k for a single individual is a lot to keep one going even in socal.

I live in one of the highest property value and taxed states. You're going to have a lot of spending cash after necessity expenses with that kind of cash. Otherwise you have an issue with managing money in my mind.

>>6272
Bah accountants are supposed to take pride in their grammar and I can't seem to get a coherent sentence out, maybe I should stop posting my mind is turning into mush.

>>6335
Don't worry anon, it's 4chan. I don't think anybody gives a shit unless your post is materially incomprehensible.

>>6229

I see lots of "accounting" jobs on craigslist

>>6412
Why does every single one of them require 2 years of experience? Goddammit.

There was something I wanted to mention that forgot to before,

The person who asked which CPA sections that require the most memorization I said FAR and AUD bacause tax comes more naturally to me so BEC and REG I was able to pass while not studying all of the sections ( I used becker)

You may want to know that FAR and REG are generally regarded as the hardest sections I had to take FAR multiple times.

AUD and BEC are generally referred to as the easier ones. Hope this helps!

>>1412
I just started at a small CPA firm. Boss won't let me modify my desk so I can stand. Only been there a month. Back is hurting sitting all day.

What are my options? Can I start applying elsewhere? I've passed the CPA, but need a year experience to be licensed in my state. Have no other relevant experience. Not a large CPA community here either.

Pic related. Been using it for years.

>>1412
This is highly relevant to my interests, as I've been wondering....

>How do I become an Accountant?
>Do I *really* require any college education, or can I work from the bottom up?
>If you had to do it again, instead of going CPA, would you've gone CGA, CMA, CA, or one of those other certifications?
>How do I get a job?

>>6797
Im confused you're saying you've been working there for a month but using that desk for years?

Is that the desk at your home you use and want to modify your work desk to be in a similar manner to that?

I don't think it's likely you'll be able to find a firm that will let you modify your desk unless it's a smaller one to be completely honest.

I suggest you stay there at least a year or two so it looks better on your resumé, if you want to start looking elsewhere that's not a big deal. However if you hop around a lot in a short period of time it's not going to look good.

It's understandable to some degree when you say "The impression of the corporate culture I got when I first applied was completely different than when I actually started working there." but you can only use that line so many times.

>>6815
You really need a college education to do anything with it. Otherwise you're just going to be a simple book keeper. Unless you're at a mom and pop type of deal but you need at least some sort of degree.

Just because I got my CPA doesn't mean I'm not going to get other certifications. I may get my CMA in time but that's being phased out in Canada so it may not be worth it in the USA anymore. I eventually want to get my CIA and CFE though, that's what I'm working towards now.

You get a job very carefully, VERY VERY carefully. You need connections and you need to have the drive. Without any college education it's really hard you need a LOT of work experience to back it up and you need good references. I can't really speak without a college education, because I have one, so I wouldn't really know the routes outside of saying connections are key.

>>6983
Yea, been using that desk at home for years. Boss is an old fart; won't let me modify or change my desk at all bc he "doesn't want it". Fucking old farts need to die out.

I honestly would work wherever as long as I could stand. I'm gonna talk to a recruiter tomorrow about it.

>>6983
Wouldn't I be screwed though if my current job finds out I've been applying elsewhere? Would other cpa firms let them know? It's kind of a large city, but small cpa community. And everybody knows everybody.

>>7111

Just sit you active fuck and die from clogged arteries at 42 like the rest of us.

>>7111
You'll run into these types a lot, you're going to have to learn sooner or later how to "play ball" with them

>>7178
As long as I can stand, I'm good. Don't care about the other bullshit. My fucking spine I can't fuck with.

>play ball

Yea, I can do that bullshit fine. It will be nice in the coming years when these assholes start croaking, get thrown into shitty nursing homes - die slow & painfully.

>>7163
I lol'd

>>7160
Potentially, that's why I said to wait a year or two. You may gain the reputation of a flip flopper and you're at the mercy of whatever your boss wants to tell them. I'm in a very large city so I don't have that concern. I don't have the same experience you may with small CPA communities so I apologize.

I hear lots of Asians in America get into accounting.
But Asians i've observed aren't that "sociable"... and people here say prospective ACC need to be "sociable".
Because of the above aren't their Asian parents setting their children for failure?

where do the salaries cap?
How looming is the threat of digitizing your work?

>>7239
Well, guess I just have to move to a bigger city. I honestly don't think I can handle the shit right now.

>>7216
Then we'll be those stubborn assholes lol

Maybe keep bringing up the concern of your spine and see if some sort of compromise could be made. Maybe you have though I dont know but trust me you won't find too many places that will let you do this kind of thing.

You really don't have any leverage either

>>7233
Asians are incredibly social which you will realise once you join an office that is 90% asian.

They just don't like white people - they are racist.

>>7239
Oh, so how long would it take to find a job in a big city if I passed the cpa but only have 1-2 months of experience and hadn't worked for 10 years before that?

>>7271
yea, but I just need to find one place that will let me. I'm sure I can eventually.

>>7248
It depends partners, CFOs, and CEOs, make tons of money. Realistically I would say around 100k, at least, if you play your cards right without making it to those positions. Those positions go far higher than that and vary from person to person.

>>7282

I think I know one place where Asians far outnumber whites in Accounting...

>Daly City, CA (near San Francisco)

>>7248
>How looming is the threat of digitizing your work?

About the same as anybody I guess. Probably won't happen for 10 years or more or never. Can't really plan for something like that.

99% of returns are done digitally as it is.

>>7285
It depends on your connections really. If you're in a small CPA community it wouldn't really hurt to apply to bigger cities without mentioning your current employer on your resumé or in your interview.

I don't think mentioning him would be in your best benefit anyway. Since they're outside the community you don't have to deal with the potential for your employer to talk to them.

Then if you get an offer you like you can take it and put in your two weeks if you don't get an offer you lose nothing. It's not the most honest thing but it seems the best in your circumstance

Okay I get it connections are important. How do I make them when I'm still in school? Join some kind of business clubs?

>>7439

a) Don't be a dick to anyone - your friend today could be your connection tomorrow. b) Go to recruitment events that have current grads, chat to them in a friendly way - they'll remember you c) Clubs and societies are good too.

I've been one of the grads dragged out to recruitment days and when someone who is genuinely bright and interested had a chat with me I always remembered them.

>>7439
Join your local cpa society chapter. You can join as a student. Join your school account club (or start one if they don't have one). Intern wherever you can.

>>7439
Yes make sure you join the accounting club any fraternal organization. A big one is Beta Alpha Psi which is business fraternity however I believe this was changed to just an organization this is a VERY big one though nation wide. Also any statewide organization

Make sure you apply for leadership positions and DO NOT get lazy. You have no idea how many times being president gets you jobs. Vice president is nice as well but president is a VERY big one it shows you are willing to grow and put effort in the community.

Also any other extracurricular activities take leadership positions in them as well.

>>7544
join the accounting club or any fraternal organization*

When I say fraternal I mean business ones not social ones where you're partying. (You can join Social ones as well and they help A BIT, not really something that will net you a job unless you're lucky though )

How fucked am I with no accounting job experience and no internship as a fresh grad? GPA is only a big above 3.

>>7625
Not too fucked if you get a job in less than a year, past that get your CPA or you will be fucked without connections.

Should I take even take internships that's not even Accounting related? Only available jobs in my career service are administrative assistant and bookeeping

>>7625
No worries. Focus on passing the cpa. Me - no job for 10 years, passed it, working now.

>>7676
>Big above
bit above, I mean.
>>7676
I hope you're right. I'm going to try to find a job, but this is hard. They all require goddamn years of experience for entry level jobs and internships seem hard to get a hold of too.
>>7721
That's my last resort, but I'd like to get a paying job fast.

>>7733
yes. Try for bookkeeping if you can.

>>7733
Yes it shows you're not lazy and motivated, doing something is better than nothing.

>>7763
The big recruiting season for public accounting is in fall if you dont get hired by then it's much harder.

Do most employers asks for reference? I'm sophomore and I'm applying for internships but I have no real-life experience so I lied about Volunteering and working in a menial job.

>>7868
refs are good. you kind of need them. get close with some profs.

>>7868

Just lie.

I did

it worked

>>7907

What did you like about?

>>7754
"bookeeping" is just PC term for someone doing menial & repetitive work that falls under the realm/sphere of accounting... right?

>>8272
generally speaking, yes

>>8272
I dunno. But for most returns you have to do bookkeeping beforehand. It is helpful to learn especially QuickBooks, etc.

Has anyone here self-studied using (beginner) accounting book before deciding to take ACC class in college?

>>1412
I just thought I'd ask your opinion on something more general, because I have no idea how to judge my current standing -

I'm a third year student specializing in Logistics Management (Fisher College of Business, OSU to be specific). Recently there was a career fair, and I've been applying to shit tons of places for a summer internship. I have a 3.3 GPA and my only work experience is 5 Summers of work as, essentially, a clerk/secretary. How fucked am I for getting an internship?

anyone else is free to answer

You said you work in tax--what do you think about the burden of government taxation causing people such as yourself to spend time helping people with taxes instead of doing something that produces value?

>>9365
I think OP is gone dude it's been like 5 hours

>>9401
yeah I figured, that's why I added the bit at the end to open it up to anyone else

>>1412
I'm a 20yo sophomore at my uni, currently have ab a 3.3 GPA and I plan to get my master's in accounting (and CPA, obviously) as well as a minor in German and Economics.

What would you suggest I do in the way of internships / getting my first job / prepping for the CPA exam?

Also, how suitable is a 3.3 for the position of CPA? I started out as engineering which dropped my grades a decent bit, but so far I have a 3.6 in business classes.

>>9365
>>9527
3.3GPAmind

>>9365
That work experience is probably more than others at Junior year and it's relevant. I'd probably delete your post unless you want people to know where you go.

>>9385
Taxes are supposed to be a communal pool of money where everyone chips in a small amount and the funds are allocated where they need to be for things like new streets and such. Health care and a few other things should be on that list in my opinion. It's not a burden in my mind, people don't really want to willingly pay it anyway. Also police efforts and other free general services etc.

People are generally cheap and won't donate towards these things. Also this way the people who have far more disposable income put in a bigger piece of the pie. It kind of works two tiered in that respect because it offers incentive to people to donate and get a tax break.

The biggest argument is blah blah blah taxes this is shit I earned this money. Ask yourself how much money would you probably try to put in towards these things and how much do you think other people will. After all wasn't mostly everyone in this thread trying to find ways to contribute the least towards these things? Now image people who play games by investing 100,000's of thousands do you think they'd like to just donate to something without incentive? Nah thats not how they make money

Whether or not it does or doesn't that doesn't all get used properly, doesn't mean taxes are inherently flawed, just the people in charge of them are.

>>9527
You are literally in the same exact boat I was which is funny. Engineering kills your GPA and 2.8 in engineering is actually acceptable. Make sure you point out this fact to employers and try to distinguish your business GPA as such.

Most people will be competing with 3.5 but 3.3 does not completely shut the door. If you have other things on your resumé like leadership positions and such it becomes far less relevant

>>9385
The world's fucked up. Isn't my fault this is an easy job that pays. Also, life has no value.

>>9549
Also I wanted to add that because of taxes it allows operations like schools and other things to be completely free of profit motive. So the end users don't get scammed.

This is why I think our health situation is rather stupid because hospitals are clearly scamming people by having over 1000% markup on purpose so that people can fall victim to it, I've seen it happen a lot.

They do this on purpose because they know they're only going to get a portion of it and want to use write offs as an excuse for it. They negotiate with insurance companies that down to roughly a small fraction of it so if you want it cheap you need insurance. Fact of the matter is though it's just greed at the end of the day and that they're in a profit model.
If taxes went to this then you'd see less scummy things such as that. But instead our system is flawed because of corrupt politicians, lobbyists, and other stupid elements like absurd military spending.

>>1412
Serious question.

Thinking about changing my major to Accounting. Dont think I can pass the CPA exam but will see.

1. Do I need to take the CPA exam if I actually wanna make it in the field or can I just go and get a degree?

2. Do you see the field going completley to computers in the future. Ill probably be going in to the field in about 4 or 5 years from now.

>>9549
I'm not saying taxes are flawed, but there is a large burden beyond only the taxes the government collects. Everyone needs to fuck around wasting their time working out their taxes, people like you go to school figuring out how to help people with their taxes, buildings are built and forests are processed into paper to facilitate tax collection, etc etc. Everything that goes into facilitating our overly complicated tax system is an economic inefficiency. It would be advantageous to enact and enforce a flat tax, or to tax by printing money (not I actually suggest this).

Basically I'm saying it is more beneficial to an economic system for the most brilliant tax accountant to be a McCashier instead of siphoning money from citizens who are forced to deal with a complicated tax system. I'm also saying that people like myself have better things to do than filling fmout forms and dicking around trying to reduce my tax liability.

>>9549

Not to mention how deductions can incentivize people like me (self employed) to buy things they otherwise wouldn't. Sure I might not -need- this $500 thing, but I can deduct it so why the fuck not? Is there any reason I shouldn't buy bullshit until I reduce my tax liability as much as possible?

I guess this is more a policy question than a question for this thread

>>9791
You're argument seems to be very uninformed and contradicting to itself. (no offense) You're not saying taxes are flawed but the concept of taxes is siphoning money away from citizens and you're implying the accountant is the one at that.

A flat tax rate would make people of every class pay the same amount and that wouldn't be beneficial to anyone in society as well. You're literally asking for a person that makes 1 million dollars should pay the same rate as someone who makes 20k. When people have more money they should contribute more money, sadly this isn't the case and people try to find loopholes hence why taxes exist to begin with. It's a communal pool to take care of common things and it's a way to bring incentives to redistribution of wealth and the trickle down effect etc. People who just sit on piles of their wealth and don't spend it actually damage the economy and contribute to a lot of these factors.

Not to mention you're describing that you're not only upset with a system that just employed multiple more people when unemployment rates are already a concern. (the people working in the system, the people constructing that building etc, the people that hire these companies.) Also without these people you'd have less regulation of what's just and unjust as well.

Then you're later saying deductions are giving you an incentive to purchase and increase spending in the economy, which has a lot of inadvertent effects .

I honestly think you're just upset because you don't understand the benefits of taxes and you're jumping on a bandwagon of uninformed people. There's far better things to argue that don't actually provide any value rather than one that's supposed to benefit society.

Again whether or not it's applied properly is a different story. However this can be applied to far too many things in the government so if that's your issue you should broaden your argument.

>>10602
Your argument* wow so many grammar mistakes its getting way too late

>>9791

Taxes are far more complicated than that. For example even with a flat tax transfer pricing, r&d incentives neither of these really gets effected if you have a flat tax.

I mean, look at indirect taxes like VAT - completely flat but there's still a lot of tax work that needs to be done.

The reality is that the industry that does very basic personal tax work for people is probably going to be dead in a few years anyway.

>>10602
Also certain deductions are there to give relief for necessities like medical deductions and such.

Theres a few other things I'm lacking and may misrepresent in my first paragraph because of my mind turning into mush but basically it's statistically tiered by actuaries to get an effect similar to that. Although certain parties like to keep changing the rates to benefit people in different brackets etc. So people in different situations would get relief like ones who are head of household or taking care of children compared to someone who is single. It's "meant" to be fair so that everyone contributes to the system doesn't affect their standard of living.

Which is probably why politics is best defined if your income is in this bracket vote republican if it is in this one vote democrat to get the most bang for your buck. At the end of the day what they end up doing is a wild card. That's my personal opinion though

Rules in general get rather silly and complicated, look at law profession for instance and the terminology used only in law. A current issue right now is net neutrality because of how ISP's are defined. If you want to argue against laws being complicated like I said there is far better things to argue instead of one that's intended to actually be good.

Oh god, thank-you.

I have a small business, and this was my first year hiring a CPA. He was a total schmuck who knew nothing.

How the fuck do I find a good CPA, or what are some questions I should ask to root out shitty ones? This guy was definitely scum and I need to find someone I actually trust, but I get mailed cold calls and I have no idea how to go about hiring one who knows his shit.

>>10795

Ask for someone with big 4 experience. If they've been there for 3 years and haven't made senior analyst they are trash. If they've been there for 6 and haven't made manager they're trash.

>>10741
>The reality is that the industry that does very basic personal tax work for people is probably going to be dead in a few years anyway.

Corporations are always going to be the primary customer because of how many transactions they deal with compared to the average person.

If you honestly think in 3-5 years (I'm assuming this is what you mean by few) that basic personal tax work will no longer exist. You may want to attempt to come back to reality if this proves wrong and re-visit a bit of your logic.

Laws and tax law change almost every year, there have been free software for quite a while. People prefer to hand off their work to someone else rather than do it themselves because as you state "taxes are far more complicated than that". Even most accountants don't like tax.

This is turning into a rather silly debate though I don't think your opinion is really going to change.

>>10853
pre-filing is going to kill it for the most part.

Of course there will always be the more complicated work... but my point is that this work would exist whether you had a flat tax or not.

>>10774
Wanted to add that people with a lot of wealth who deal with a lot of transactions will generally opt out of a software because a software doesn't take certain tax positions an accountant would.

>>10795
>>10814

Actually as myself and other CPA's in this thread have pointed out a lot of people with Big 4 experience know that they outsource most of them anyway.

Although I would agree your method is probably a good way to fish out most of them. Just make sure they went into tax services rather than assurance (auditing). Even the "best" accountants and partners of firms just give their tax returns to be done by someone else in their firm.

>>10882
I must have misread your post I thought you were saying it wouldn't be complicated. I apologize it's getting late

>>10942

Are you Eastern or Pacific time?

>>10942
this is your brain on busy season.

>>10978
LOL very true

>>10971
Eastern

I hope this thread is still up the next day!

>>9758
80% pass it that retake it. It's doable.

1. "make it"? You need the cpa for a lot of jobs. You can still make a decent living without it.

2. Not by then. Can't plan for that. May or may not ever happen.

>>10602
>A flat tax rate would make people of every class pay the same amount and that wouldn't be beneficial to anyone in society as well. You're literally asking for a person that makes 1 million dollars should pay the same rate as someone who makes 20k.

Not really, the tax is in percent. Let's say the tax is 10% (hahahaha, I wish, but for convenience sake)

The guy who makes 1 million will pay 100 000
The guy who makes 20 000 will pay 2 000

Ergo, the more you make the more you pay, even with a flat tax.

>>5892
>>6046
What exactly is the problem with staying in that position? And what does passed for partner mean?

>>14662
I think he addressed that in a later post correcting it he meant to get at the rate from what it looks like

>>14871
If I had to guess you were up for promotion then someone else got picked

>>4553
>>4568

Hey, does it take a lot of work to remember the shit? I just started for accounting, don't actually have any accounting courses yet (marketing and micro/macroecon). Is it hard? Like, how many study hours a day or a week, would you say? Should I get some accounting e-books and start learning on my own now?

>>7078
>you need a LOT of work experienc

So if you have a degree it can bypass the needed experience? Or should I get an entry bookkeeping while in uni, (assuming my aspie ass can get hired somewhere, maybe 30% likelihood.)

>>7216

But you're on 4chan, surely you're used to sitting at a computer 14 hours a day. Try sitting japanese or slav styles. It helps me a lot. Take off your shoes if necessary. Japanese kneeling is good for the spine and posture.

>>7544

Can you get a mediocre job at least, if you join a club but don't rise up in it? Or if you don't network much?

>>18926
Theres no point in joining a club to put on your resume unless you go for a leadership position. You might as well just lie and put it on if that's the case it's not really going to do anything except fill up resume space.

Degree does not bypass work experience either in today's market almost everyone has a degree.

It doesnt hurt to start studying in advance I would say the learning curve went the following. I slacked off my first two years and the first financial class was harder (because this is simply memorization for the most part so make sure you put time into the art and form of accounting) Second one was managerial and logical connections so it came easier.

Once you hit intermediate accounting this is where the learning curve hits hard because it tries to touch back on concepts you were supposed to memorize, beat them in hard and give you more extreme examples and calculations. Past that the material is technically harder but really it's just applying what you know and show learn so it progressively becomes easier and routine.

Except for Tax that's basically new stuff all over with rules that contradict GAAP which create permanent and temporary differences during reconciliation.

>>14662
>implying 100k means the same to a millionaire as 2k is to someone who is scraping by
Nice try man, but the millionaire could be taxed at 70% and still live a more than comfy lifestyle

>>19295
Yep that's the point I was trying to get at which is why I explained it later on on how actuaries tier it. And why, in my opinion, a flat tax rate wouldn't do justice

It's probably one of the best things pulled from communist/socialist views if applied properly.