Accountants face high costs for tax returns
23 posts across 3 communities in the last 30 days; 91% from r/Accounting.
“Im in a pe backed tax niche firm (spinoff firm from pwc) in NJ/CT/NYC metro and paid 73k a year. Theres gov tax auditor positions paying basically the same for much less work and better benefits so why do people bother with these smaller/niche firms? And how is it possible they…”
“Yeah man, I can't do networking events while having a full time demanding job. Any ideas on how to manage both? Do I go part-time?”
“Or people who hired people with primarily tax oriented resumes into GAAP audit, what made you hire them? I have 2 years of experience working for the IRS auditing 1040's (Revenue Agent in SB/SE). I have a bachelor's in economics and an associates in accounting. I have all the…”
Several accountants are finding it expensive to handle their own or smaller entities' tax returns, with firms charging high fees. Some are exploring options like part-time work or networking to find more affordable solutions.
SOURCES (26)
“Im in a pe backed tax niche firm (spinoff firm from pwc) in NJ/CT/NYC metro and paid 73k a year. Theres gov tax auditor positions paying basically the same for much less work and better benefits so why do people bother with these smaller/niche firms?…”
“Or people who hired people with primarily tax oriented resumes into GAAP audit, what made you hire them? I have 2 years of experience working for the IRS auditing 1040's (Revenue Agent in SB/SE). I have a bachelor's in economics and an associates in accounting. I have all the credits needed to qualify for licensure (CBA accepted my transcripts). Gonna study for CPA for sure, but I wanna address selling my experience as well. I'm making a separate resume for GAAP audit roles in public”
“Find a new job with an active CPA [re: how did you find a CPA to sign you off when there is no CPA in your firm?]”
“Does anyone know of any midsized accounting firms that truly offer excellent onboarding, training, and development for entry-level staff accountants? I’m looking for long-term stability, opportunities for growth, and genuine one-on-one mentorship. Starting salary and prestige are not my main priorities right now—I’m focused on finding a firm where I can learn, contribute, and build a lasting career. submitted by /u/Spirited-Away-199994 [link] [comments]”
“Hi everyone I'm a CPA at a big 4 firm, started a year ago. I'm thinking about tax law / the combo of CPA&JD and was looking for thoughts. Everyone I've spoken to in my life has told me it's smart. I'm used to busy season 60-75 hour weeks so that doesn't really scared me. My main questions are : Is the pay good? Is the work life balance better? Is it overall worth it? Thank you! submitted by /u/Illustrious_Run5605 [link] [comments]”
“What are the benefits/drawdowns of owning a local CPA firm compared to just working at a Big4 firm? submitted by /u/Upset_Kick_3889 [link] [comments]”
“Low-key interested to know, though I guess it depends on the tax specialty. And how long did that took to get there ? What are they looking for/asking of you in order to make partner (I have an idea but genuinely curious) ? I’m asking because I might have an opportunity in cross-border tax at a B4 and wondering if it’s worth it all things considered.”
“Taxpros sounds perfect for what I was looking for! I couldn't find a good group to look for information on something like this. Thank you so much! I think for the first year, I am trying to keep with smaller clients just to ease myself into it. I expect these 50 might only bring in 10-15k which I am accepting for what it is.”
“r/taxpros has a lot of good discussions on this topic. Rather than focusing on the number of clients, it’s probably more important to focus on time, revenue, and client fit. There’s advisory firms with 50 clients pulling in 250k+ with consistent year round work, and there’s 1040 mills where 50 clients is $10k in revenue. Client number isn’t as important as finding the right clients.”
“You don’t have to be BUT some clients will immediately judge you and go somewhere else. How would you feel if you paid a lawyer $100s of dollars for a service and then you find out that they never passed the BAR?”
“The big firms already filled their december slots by august, smaller local firms are still scrambling for tax season help right now”
“That’s the market for CPAs in Canada unfortunately. We had a controller in Toronto making $90k”
“Thank you! I was just using an example though and won't be shifting anytime soon. I'm still in the early stages of my career and wanted to know if working in one tax jurisdiction would limit me in the future. Kind of just overthinking tbh.”
“That makes a lot of sense, especially regarding the exit ops. My other offer is a direct US Tax role at PwC—though a big difference is that PwC told me they will only support the US CPA for this role, not the Canadian one. Since I'm young and have zero ties to Canada, my main driver right now is maximizing salary and eventually moving down south. I’m really curious about your own journey—did you start in Audit first, and how long have you been in US Tax? Do you like it? Also, how easy is it”
“I had no choice in the matter. I found it easier to find clients than employment.”
“Brutal question: are you highly motivated and want to be great at what you do? US Tax route as a Canadian means you will generally always be seen as the “cheaper” option. Top tier US tax professionals are American, full stop. As someone responsible for running tax departments of sp500 equivalent tier companies in Canada, the difference in work quality between Canadian US tax pros and American US tax pros was night and day. Further, especially for bigger/serious companies, boards of directors you”
“If you don't care about what you're working on and just want to make the most money then do US tax and try to transfer to the US to a T2 city (Chicago Atlanta Charlotte etc) a few years in, you will make so much more than Canadian counterparts it's insane”
“Can she volunteer? Local election judge? Many community colleges offer tax assistance to low income people at that time.”
“Ok cool man. Nothing to be nervous about IMO. The more prepared you are, the less anxiety you will have. Just try to meet some solid ppl to go through the journey with. What city are you in?”
“Anyone have any cheap places to get CPE? My firm doesn't have a subscription anywhere. Been looking at https://study.learncpe.com/cat/all-cpe-courses Open to any other thoughts here submitted by /u/smokedcroissant [link] [comments]”
“Hey! Anyone know any public CPA firms hiring entry level in the US? Please drop the name and state below! Any help is appreciated! submitted by /u/Over_Sun_841 [link] [comments]”
“i have some smaller entities and i don't want my regular firm charging me and arm for a simple tax return but i won't file myself. I asked like 4 firms and 3 of them turn me down. I am not talking about the 1 person practice...i am talking about the 3-4 partners with associates. That is the sweet spot and all the partners are boomer age.”