![]() |
|
| *Home>>>Tax Accounting |
Accounting, CPA, Tax Preparer: Tax Question? |
After looking at a certain user's credentials, it made me question it because it really doesn't make sense. The person had 24+ years of accounting, 14+ years of CPA, and 7+ years of tax preparation experience. So why is it that you can do tax returns as a accountant and not be licensed as a tax preparer? It seems a little backwards to me. I mean you should be licensed to prepare taxes before you could be a CPA and a CPA before you could be an accountant. You can be an accountant just by working in the field and getting on the job experience. The CPA credential is given by state boards in order for the holder to give an opinion on financial statements. That is the only purpose of the CPA designation. This is why the person had so many years as a CPA without the same years of tax experience. Taxes are secondary to us CPA's as our main job is protecting users of financial statements. Most CPA's make their big money from audits and consulting, not tax work. Just about anybody can do tax work. However, only Tax Attorneys, CPA's, and EA's can argue in front of the IRS. An accountant is a general term for a professional who helps keep financial records and/or make sure taxes are paid properly. They may or may not be certified as a public accountant, i.e. have a CPA. CPA is a professional designation that's regulated by states. You do not have to provide evidence of training or competence to prepare tax returns except in California and Oregon. In those states you have to have education and pass an examination unless you are an attorney, CPA or enrolled agent. These three classifications are already licensed and presumed to be competent. |
| Related information |
You're looking at two completely different sides. Audit leading to a Controller means you are working for someone else. If you look at tax and go to consulting you can very well open your ow... Limiting yourself to just taxes is going to limit your opportunities. Consider a broader base in accounting - you can be very successful as a CPA with an audit firm, for example. Good luck! ...What does AASB112 say? What can you logically deduce from that? There's your answer - or you'll find your answer in your textbook ;) ...dear friend, There is no specific rule for treatment of part payments of bills but a reasonable interpretation is that in such case a proportionate amount of tax is to be paid as service tax. ... Yes, your understanding of deferred tax assets is correct. When the journal entry is booked for current period tax benefit, it looks like this: Dr. Deferred Tax Asset (Asset) Cr. Benefit f... cash credit Definition A short-term cash loan to a company. Applying the Cash or Accrual Method of Accounting for Income Tax Purposes Keeping your books and doing your taxes based on... Here鈥檚 a very short story/anecdote, concluding with a very old saying which I heard on a tape: On a very cold winter day, a man is sitting in front of his wood-burning stove demanding heat: 鈥淕ive... CPA specializing in taxation has the easiest time finding work. PARTNERS make the most money. No matter which accounting specialty you go into, make absolutely certain that you are COMPUTER LITER... |
Categories--Copyright/IP Policy--Contact Webmaster |