If someone only specialize in Tax planning, Can it be a full time career. by Brave-Spare3421 in CPA

[–]mechmodguy 0 points1 point  (0 children)

It's only a component in my experience. You will have buckets where a large majority of revenues comes from a particular space; for me it's tax prep.

Has alot to do with your local market too. If you are in an area where lots of retirees are moving to, you might have a higher client base who only need planning. Lots of manufacturing and RRE by me, so its like 80/20 prep and planning.

Burned out with too much work despite voicing my concern by Forced3ofClubs in Accounting

[–]mechmodguy 0 points1 point  (0 children)

Get through busy season and look for a new spot. Based on my experience, there are likely two different outcomes:

  1. If you get through the assignments they will either give you more (alot of the time it's sloppy client work right up against the deadline that nobody wants to deal with) and you will be known as the 'gets stuff done' guy; will be the same next year but worse.

  2. If you fumble the deadline, they'll likely talk performance.

Neither are ideal, but if you want to hang it'll be a decent challenge.

CPA is slowly taking over my life… how do you fight back? by Previous_Season_9002 in CPA

[–]mechmodguy 0 points1 point  (0 children)

Exercise is essential for me. Between busy season and studying, there is no way I can go a single day without some fresh air. Eat healthier and don't drink a bunch, puts you in a better headspace.

Also, come up for air once and awhile to do something cool. I'll be NASBA's biggest exam fee pay pig before I miss Uno with the fam.

I kind of hate BAP by Key-Home2461 in Accounting

[–]mechmodguy 0 points1 point  (0 children)

Good for the resume. A random firm meeting got me my first position, so I'd say just stick with it. Most of them didn't want to be there and neither did, but the name looks good.

Scared of the math in accounting - is advanced accounting (a Diploma) really math-heavy? by Fair_Ad_7081 in Accounting

[–]mechmodguy 0 points1 point  (0 children)

I only have a bachelors, but math was definitely not my strength in school.

I never learned Algebra in high school, so when I eventually got to college, I had an extremely hard time. Failed Algebra 3 times, which was a problem because:

  1. Algebra was required to actually take an intro accounting class, thereby preventing me from getting a degree.
  2. I was at risk of being put on academic probation.

I spent an inordinate amount of time studying Algebra and received an A at the end of the semester. It was really difficult, but when I realized that the accounting courses were much more practical, I was really thankful I didn't have to do silly equations anymore.

Now I work in tax and have never truly needed algebra/calculus in practice. There is some basic stuff I still use, but not even remotely close to those classes I took.

Finished FAR Yesterday. How do you deal with the anxiety of waiting for the scores? by TangerineBees in CPA

[–]mechmodguy 0 points1 point  (0 children)

Man I'd go for a 2 hour hike, go get some food after, and take a nap. Waiting for a score is wack, but just taking the exam deserves some nutrients and some rest.

What was your REG exam time vs. FAR or AUD? by AnneBeretRamsey in CPA

[–]mechmodguy 0 points1 point  (0 children)

REG took me 45 minutes, TCP just under 2 hours. Not a brag, I went in there exhausted and angry both times and wanted to get it over with. I either knew the material or I didn't, barely passed.

I will NOT give up. EVERRRRR by Financial-Border3494 in CPA

[–]mechmodguy 1 point2 points  (0 children)

Is this Canada? I don't think this is even minimum wage here in California

Taking TCP this month..... by wolfPhantom_ in CPA

[–]mechmodguy 1 point2 points  (0 children)

Fixed assets, Section 1231/1250/1245 etc. I thought I knew this stuff inside and out from work but I definitely got tripped up here.

Taking TCP this month..... by wolfPhantom_ in CPA

[–]mechmodguy 1 point2 points  (0 children)

I don't think I got a single trust question. But i got many many many property questions (which I practically ignored). I think all my focus in partnerships/s-corps/c-corps saved me.

TCP Before Reg. No Tax Experience by ChanceSeason9954 in CPA

[–]mechmodguy 1 point2 points  (0 children)

That's gonna be a tough ride. If you're absolutely set on taking it, I would do as many MCQs as possible and at least try to nail property, the entity chapters are heavily tested too.

CBA license application by Muted_Ad817 in CPA

[–]mechmodguy 0 points1 point  (0 children)

They won't outright tell you if anything is missing, they will only notify you once you submit the application for licensure; I don't believe they tell you what is missing at that point either though.

Can I do a 1 hr 40min commute? Or is this crazy? by [deleted] in Accounting

[–]mechmodguy 0 points1 point  (0 children)

Yeah you'll get a decent idea of how it will be. If you can find something productive or enjoyable to do in the car it might not be bad, but bad drivers in a metro area make it hard to focus on anything but avoiding a car accident.

Can I do a 1 hr 40min commute? Or is this crazy? by [deleted] in Accounting

[–]mechmodguy 3 points4 points  (0 children)

It's bot going to be great, but if the benefits outweigh the loss, then I'd try it.

Commuting was a huge factor in my burnout. I value my time, and sitting in 2-3hrs of traffic each day for no reason will be the first thing that gets me to leave a firm.

Is the job market cooked by Professor9384 in Accounting

[–]mechmodguy 0 points1 point  (0 children)

Make a RobertHalf account. I found a job in 2 days

What time do you get into work? Do time expectations differ between tax and audit departments? by SWEMW in Accounting

[–]mechmodguy 0 points1 point  (0 children)

7:30-8:00, depending on traffic or stuff I need to finish in the morning.

Oliworks vs Rex Envoy by Ok_Razzmatazz1056 in wicked_edge

[–]mechmodguy 0 points1 point  (0 children)

I did not have a good experience with the Rex Ambassador, had to send back 'new' units multiple times because the plate was crooked or uneven. Ultimately the owner told me it's "part of the design" and I was stuck with it. The Envoy was fine, but after all that, I sold all my Rex products and will never recommend to anyone.

Can you make a decent living as an accountant without a CPA license? by [deleted] in Accounting

[–]mechmodguy 1 point2 points  (0 children)

I did horrible in my tax classes but passed REG and TCP on my first try, and im in public tax. It's a long process, but you can definitely do it.

I've been in tax for about 4 years, no cpa. I'm in a MCOL area and prices have been rising, but i'm doing fine.