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Subject Topic: To CPA or not to CPA! :) (Topic Closed Topic Closed) Post ReplyPost New Topic
  
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kj_nyc
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Posted: 19 Oct 2009 at 21:31 | IP Logged  

If you just want to do taxes on the side and are not looking to work for a CPA firm, you can become an Enrolled Agent (EA), which would allow you to represent taxpayers before the IRS, just as CPAs can.  The EA exam is a lot less expensive than the CPA exam and takes a lot less time to study for, and you don't need any public accounting experience to become an EA.  You just need to pass the exam.
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acctingman
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Joined: 19 Oct 2009
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Posted: 19 Oct 2009 at 21:52 | IP Logged  

Thanks for the responses!

@Zeratul : I want more from my professional life. I have another 20+ yrs to work and I cannot see myself doing the same thing for that entire time. Options....the more I have the better off I am. Sense of accomplishment.

@
kj_nyc : it's not about making more money. It's about the next 20+ years of my life. I don't plan on quitting Costco, not anytime soon, but it would be nice to have something going on the side. I have no family (kids, wife) and a lot of free time. This is something I could fall back on when I want to leave Costco. Something I can use on a part time basis for the next 15 years or so and as I get closer to retirement do more with my license.This is more than JUST doing taxes. Yes, I could do that and probably would, but I was thinking of possibly getting a couple local mom & pop businesses to invest in me to do their personal/business accounting/tax work.


@
Heisenberg : there is a licensed CPA (director of Financial Reporting) who would sign off on my hours (only after completing the affidavit required to be filled out prior to the exam)


Thanks to all of you for your comments/suggestions :)
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Heisenberg
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Posted: 19 Oct 2009 at 22:27 | IP Logged  

You will also need to check and see if your state is one of the state's that require a certain amount of auditing hours to obtain the work experience requirement.  The state I am in does, but others do not.  If your state does not, then you are in good shape, but if it does then you would have to be doing internal audit at costco to get the required hours.  Just financial reporting and tax work does not cut it with states that require auditing hours.

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hcanders
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Posted: 19 Oct 2009 at 22:45 | IP Logged  

I think its a good idea.  You don't have anything to lose by taking the exam.  You may have to at some point (once you pass) take a couple years and "pay your dues" at a small firm to learn the business side - billing, software, tons to know in tax and then transition to part time/work when you want. 

The economy is bad right now so many people are discouraged.  But a career spans many years and a CPA certification will not hurt.  If you have good experience, good work ethic, and ambition - you will figure out a way to use it....

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