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HAHAHAHA! But seriously, please put a "/s" after this, or some internet idiot is going to think you're serious. We have enough misinformation online to disspell as it is. ;-)
Well done as always! I hope we can figure out ways to attract and retain more accountants in the industry. I'm starting a scholarship at my alma mater to help alleviate the tuition / student loan burden since I recently found out that the accounting prof is [internally] *requiring* all accounting majors to get 150 units on graduation. That may help them get licensed without barriers later, but that's heavier burden to get their degree.
Part of me hopes the problem gets much worse before it gets better, because only change will happen once big firms physically run out of associates and engagements become un-staffable. But at the same time,something rubs me the wrong way about offshoring, like we will continue to get stagnating wages because the expectation is that some 3rd worlder can do it for cheaper. The silver lining is that this accounting shortage is not just domestic, Mexico,Canada, and the Phillipines are all reporting drops in their domestic accounting grads. Even India is having a drop in its numbers of new CAs and CPAs.
For the students getting into accounting/my interns, I generally recommend they move into the Corporate accounting side, not specifically individual tax. Where I live none of the accounting firms could compete with what the major tech companies can offer for their accounting departments. This leaves just about none of the students I've seen in the past few years getting into tax, and if they were going to do tax I would recommend the EA route for individual, leaving CPA's to the corporate side.
Yeah I have a W-2 job in industry accounting (senior accountant) and want to eventually transition into some income that I can get part-time.@@taxtelegraf
Paid tax advice can be given w/o a CPA or state Bar license? I haven't done the research but that seems iffy to me - I'd think that would bleed into unauthorized practice of law
We don't need to be an EA/CPA/attorney to prepare returns or consult on taxes at the federal level. Some states have requirements like CA and NY but most do not. Representation before the IRS is what our credentials gets us. Having the ability to call the IRS to clear up issues is one service I can offer because of the credentials, but I know some preparers who do not offer this and they send the business over to me to clean up the messes. My hourly rate to clean up the messes is generally higher than the original preparer charged, thus why the people keep going back to the guy with no credentials. He's a fraction of the cost of those of us with credentials.
Subscribe or the IRS will audit you
HAHAHAHA! But seriously, please put a "/s" after this, or some internet idiot is going to think you're serious. We have enough misinformation online to disspell as it is. ;-)
Those are fighting words, mister
Deal
Well done as always! I hope we can figure out ways to attract and retain more accountants in the industry. I'm starting a scholarship at my alma mater to help alleviate the tuition / student loan burden since I recently found out that the accounting prof is [internally] *requiring* all accounting majors to get 150 units on graduation. That may help them get licensed without barriers later, but that's heavier burden to get their degree.
Part of me hopes the problem gets much worse before it gets better, because only change will happen once big firms physically run out of associates and engagements become un-staffable.
But at the same time,something rubs me the wrong way about offshoring, like we will continue to get stagnating wages because the expectation is that some 3rd worlder can do it for cheaper.
The silver lining is that this accounting shortage is not just domestic, Mexico,Canada, and the Phillipines are all reporting drops in their domestic accounting grads. Even India is having a drop in its numbers of new CAs and CPAs.
For the students getting into accounting/my interns, I generally recommend they move into the Corporate accounting side, not specifically individual tax. Where I live none of the accounting firms could compete with what the major tech companies can offer for their accounting departments.
This leaves just about none of the students I've seen in the past few years getting into tax, and if they were going to do tax I would recommend the EA route for individual, leaving CPA's to the corporate side.
Hello! Do you have any advice for part-time work as a CPA (Non-tax, non-bookkeeping)?
You're a CPA that wants a part-time job?
Yeah I have a W-2 job in industry accounting (senior accountant) and want to eventually transition into some income that I can get part-time.@@taxtelegraf
accounting isn’t cool? watch The Accountant starring Ben Affleck .. that’s what got me into the profession lmao 😂
Paid tax advice can be given w/o a CPA or state Bar license? I haven't done the research but that seems iffy to me - I'd think that would bleed into unauthorized practice of law
We don't need to be an EA/CPA/attorney to prepare returns or consult on taxes at the federal level. Some states have requirements like CA and NY but most do not. Representation before the IRS is what our credentials gets us. Having the ability to call the IRS to clear up issues is one service I can offer because of the credentials, but I know some preparers who do not offer this and they send the business over to me to clean up the messes.
My hourly rate to clean up the messes is generally higher than the original preparer charged, thus why the people keep going back to the guy with no credentials. He's a fraction of the cost of those of us with credentials.