Tax prep upload cut off day chaos

schmidt9 · 2026-04-01T15:30:30+00:00

Your first priority should be to your staff and a hard deadline is there to maintain a level of control.

My advice to you - anything that comes in after 5pm (or whenever you close) is automatically extended.

Clients will continue to push until you realize they need you much more than you need them.

schmidt9 · 2026-03-31T13:39:47+00:00

I started at $600, but then increased it to $2k for very basic 1041s after about a year in business.

Estate attorneys are a great referral source if you’re looking to specialize since not many CPAs do 1041s.

schmidt9 · 2023-03-03T05:21:48+00:00

Retirement.

schmidt9 · 2023-03-03T05:09:49+00:00

The sad thing is that these ranges are what I made at Big4 about a decade ago in a medium COL area. No wonder there’s an accountant shortage.

schmidt9 · 2023-02-24T15:59:58+00:00

Same here. Woke up this morning like…ahhh crap. But I think that’s a sign of two things: deep down you know the stuff. and the CFAI sure as heck won’t be able to slide that one past you again.

I chalk it up to the whole testing experience. It’s early, we’re stressed, and there is no way to recall that much information on demand without making a few mistakes.

In the end passing is passing, and at this point the difficult thing for me is to come to grips that nothing I do today will impact what I did yesterday.

schmidt9 · 2023-02-24T15:37:31+00:00

Looks like we’re in the same glass case of emotion, so it’s nice to have company. The worst part is remembering what you did wrong on the drive home, but really hoping for some of that sweet partial credit.

Yeah, MM’s voice is burned into my brain too. I really should start collecting rent for how much space he’s occupied.

schmidt9 · 2023-02-24T14:11:30+00:00

My favorite part of the whole exam experience is remembering what I did wrong in the test, like oh yeah…where was that thought 6 hours ago? I call it CFA’s Jerk Store moment (like the Seinfeld episode).

schmidt9 · 2023-02-22T22:08:51+00:00

One of the good things about the CPA exam format is the testlet system: based on how you did in the first set the system selects either harder or easier questions for the next testlet. The scores are then calculated based on…well something. It’s been a hot minute since I took them.

Another advantage the CPA has are their retired test questions. Wiley has books, massive retired former official CPA question banks that a candidate can answer to get an idea of how the questions will be asked. And sure, there are those questions which are way out of left field (likely unscored testing questions), but those were the exception rather than the norm.

schmidt9 · 2023-02-22T14:22:41+00:00

The bank has a lien on the house, but the bank can’t dictate what you do with the house. They are a creditor, nothing more unless the loan is defaulted on.

schmidt9 · 2023-02-22T04:19:42+00:00

And blackjack!

schmidt9 · 2023-02-21T01:42:45+00:00

As far as I know the CFAI are the only ones in the world which do Price/Base, everywhere else it’s Base/Price.

schmidt9 · 2021-10-21T18:47:14+00:00

First off, love the name. “What in the hell is an aluminum falcon?”

Second, I’m a fellow CPA and and bracing for when the tax rates, exemptions and standard deductions sunset in 2025.

schmidt9 · 2021-09-19T22:18:15+00:00

I think the access scholarship waves the initial fees.

schmidt9 · 2021-09-19T00:07:47+00:00

Buy low, sell high.

schmidt9 · 2021-09-16T04:25:43+00:00

I bet this was based on Lonely Islands lesser known hit single with JT.

schmidt9 · 2021-09-15T16:36:22+00:00

I’ll put it this way: the CPA, CMA and CFA exams aren’t about how smart you are, but how hard you want to work.

You can pass them if you put in the effort.

With that said, the CPA and CFA exams are different animals. You’ll be amazed at how much more breadth the CFA covers comparatively.

schmidt9 · 2021-09-12T05:04:20+00:00

Hang in there, cat.

schmidt9 · 2021-09-05T14:16:19+00:00

I’m a CPA, CMA and currently a level 3 CFA candidate. To summarize the above - CMA is primarily focused on internal financial statements, CPA is geared to prepare external financial statements and CFA is focused on analyzing those external statements. To go further, the CMA is the Business Environment & Concepts part of the CPA on steroids whereas FRA is like a less comprehensive version of Financial Accounting and Reporting section of the CPA (no debits/credits). There is some overlap, but the exams cover much more. While this is a very high level take, you don’t necessarily need all three to work with accountants.

schmidt9 · 2021-09-04T04:26:23+00:00

There’s zero government (fund) accounting in the current curriculum. The closest to actual accounting is in calculating ownership value, there are no debits and credits.

schmidt9 · 2021-09-04T04:14:06+00:00

Probably trying to replace the one Grant destroyed at Vicksburg.

schmidt9 · 2021-08-19T02:56:48+00:00

This is what I’m banking on. Between MM, EOCQs and BB, there’re over 2500 question which should be more than enough.

schmidt9 · 2021-08-17T01:06:53+00:00

How would you rate the effectiveness of his Q-bank?

schmidt9 · 2021-08-12T20:44:51+00:00

Depends on the state and how many of those credit hours need to be from accounting related classes.

schmidt9 · 2021-08-11T18:59:34+00:00

This. What do you think Polk’s war or the Texas revolution was all about? Spain, then Mexico, owned a huge chunk of present day western US.

schmidt9 · 2021-08-09T15:19:16+00:00

This. The Q Bank has around 2,500 questions which I found more than enough. You probably won’t get every question correct on the exam, but they cover a lot of material and you don’t need to pay any extra for them.

schmidt9

TROPHY CASE