Anyone here a CPA?

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  • Kingctb27
    SBR MVP
    • 07-16-08
    • 2258

    #1
    Anyone here a CPA?
    Studying to be one right now. Intermediate ACC classes are ridiculous guys. Can't think straight.

    How does it mix with gambling? Thanks.
  • Poker_Beast
    SBR Hall of Famer
    • 09-14-06
    • 6547

    #2
    Yep, not many CPA's that gamble. Most are tight asses.

    Assuming you are good with numbers it helps with odds, etc.
    Comment
    • Dougie Fresh
      SBR High Roller
      • 11-01-08
      • 226

      #3
      I have my bachelors in accounting, thinking about going back to school to study for the CPA
      Comment
      • pico
        BARRELED IN @ SBR!
        • 04-05-07
        • 27321

        #4
        i ****ed a CPA.
        Comment
        • ertl09
          SBR MVP
          • 12-10-07
          • 1413

          #5
          also going to school to become one, its hard to keep up on school work and also gambling at the same time. Especially when you have a bet on a game, no way I will study instead of watch the game.
          Comment
          • Kingctb27
            SBR MVP
            • 07-16-08
            • 2258

            #6
            I hear ya ert. I had a 3.6 going into this semester and am probably going to have around a 3.0 this semester. Dunno if it is gambling or the classes are just harder.
            Comment
            • pharmorjac
              SBR Rookie
              • 11-06-07
              • 24

              #7
              I'm a CPA

              I'm a CPA.

              Being a CPA allows you to track your losings in an excel spreadsheet.
              Comment
              • big joe 1212
                SBR Posting Legend
                • 06-01-08
                • 19380

                #8
                Originally posted by Kingctb27
                Studying to be one right now. Intermediate ACC classes are ridiculous guys. Can't think straight.

                How does it mix with gambling? Thanks.
                Dude, hang in there!

                INT 1 and 2 are the hardest courses. Advanced, Auditing and Tax will be a lot easier, believe it or not!

                CPA exam is brutul though! Take it in parts and not all at once. Good Luck!
                Comment
                • Kingctb27
                  SBR MVP
                  • 07-16-08
                  • 2258

                  #9
                  It's funny you say that because I have like an 86 in INT 1 but a 78 in Tax. One test ****ed me bad.
                  Comment
                  • big joe 1212
                    SBR Posting Legend
                    • 06-01-08
                    • 19380

                    #10
                    Tax is only difficult if you have a fuked up instructor. We pretty much knew what was gonna be on the test and 50% of our grade was doing a tax case.

                    Auditing will be no math at all.
                    Advanced will be dealing with partnerships, government, and consolidations (easier)
                    Comment
                    • bettilimbroke999
                      SBR Posting Legend
                      • 02-04-08
                      • 13254

                      #11
                      It's college dude, they dont fail anybody, what college would want someone paying 20-30k a year to listen to 16 hrs of lectures a week that they're going to give anyway to leave. If you have any brains at all you will get your accounting degree, then if you study your ass off and use CPA prep material you'll get your CPA, problem is job market is terrible right now, hard to get a decent paying business job right now when all the businesses are applying for welfare
                      Comment
                      • big joe 1212
                        SBR Posting Legend
                        • 06-01-08
                        • 19380

                        #12
                        The CPA exam will have little tax questions on there.
                        Comment
                        • big joe 1212
                          SBR Posting Legend
                          • 06-01-08
                          • 19380

                          #13
                          Originally posted by bettilimbroke999
                          It's college dude, they dont fail anybody, what college would want someone paying 20-30k a year to listen to 16 hrs of lectures that they're going to give anyway a week to leave. If you have any brains at all you will get your accounting degree, then if you study your ass off and use CPA prep material you'll get your CPA, problem is job market is terrible right now, hard to get a decent paying business job right now when all the businesses are applying for welfare
                          accounting jobs are still on the rise. and will continue with all these new laws thanks to SOX laws
                          Comment
                          • bettilimbroke999
                            SBR Posting Legend
                            • 02-04-08
                            • 13254

                            #14
                            Originally posted by big joe 1212
                            accounting jobs are still on the rise. and will continue with all these new laws thanks to SOX laws
                            Maybe so, if you're a genius and can not only get your CPA (takes 150 hrs plus 2 years working under a CPA) but also possess the ability/experience to get hired to audit major corporations for Sarbox compliance then you can still prolly get a decent job, hard to see how that helps the normal accountant coming out of college but who knows
                            Comment
                            • big joe 1212
                              SBR Posting Legend
                              • 06-01-08
                              • 19380

                              #15
                              Originally posted by bettilimbroke999
                              Maybe so, if you're a genius and can not only get your CPA and possess the ability/experience to get hired to audit major corporations for Sarbox compliance then you can still prolly get a decent job, hard to see how that helps the normal accountant coming out of college but who knows
                              The firm I work for is always looking for entry level. Not too hard to find work, maybe not great paying at first, but will have to work his way up. I started as intern making a lousy 12.50.
                              Comment
                              • bettilimbroke999
                                SBR Posting Legend
                                • 02-04-08
                                • 13254

                                #16
                                Originally posted by big joe 1212
                                The firm I work for is always looking for entry level. Not too hard to find work, maybe not great paying at first, but will have to work his way up. I started as intern making a lousy 12.50.
                                True, this is the actual opportunities that are available to new accountants, makin about what a Wal-Mart cashier makes except she doesn't owe 100k for college
                                Comment
                                • big joe 1212
                                  SBR Posting Legend
                                  • 06-01-08
                                  • 19380

                                  #17
                                  Originally posted by bettilimbroke999
                                  True, this is the actual opportunities that are available to new accountants, makin about what a Wal-Mart cashier makes except she doesn't owe 100k for college
                                  yeah, it sucks for a few years

                                  I was lucky enough to be able to use my GIBILL so didnt have the debt.

                                  It is also a good idea to try and do some tax returns on the side. I started doing my family and friends for like $20 a pop just to get business. then they told people...and so on. Now I do like 30+ people during tax season. Nice extra cash on the side!
                                  Comment
                                  • Kingctb27
                                    SBR MVP
                                    • 07-16-08
                                    • 2258

                                    #18
                                    I have an internship with USAA this summer in their financial analysis department... Should get paid pretty well. Will look good on resume.
                                    Comment
                                    • Fiasco
                                      SBR MVP
                                      • 11-02-08
                                      • 2406

                                      #19
                                      I'm either gonna be a cpa or do something with an mba in finance...

                                      My aunt does over a hundred tax returns for people right now on the side and that is very appetizing as I would be taking over her clients if I wanted to after school to go along with whatever I do..

                                      cpa's will always have jobs because people will always have money...
                                      Comment
                                      • ertl09
                                        SBR MVP
                                        • 12-10-07
                                        • 1413

                                        #20
                                        Easy to find a job in bigger cities, I'm from a smaller town and its almost impossible to find an accounting job or intern.
                                        Comment
                                        • bettilimbroke999
                                          SBR Posting Legend
                                          • 02-04-08
                                          • 13254

                                          #21
                                          Originally posted by Kingctb27
                                          I have an internship with USAA this summer in their financial analysis department... Should get paid pretty well. Will look good on resume.
                                          It's all who ya know bro, if you don't know anybody you're fuked in business, everybody's linin up to get a huge payday job bullshittin in an office all day, if you're just one of the 200 sheep that come in each day it's hard to get the job, a good idea is to become an intern and then get hired by that company, don't just become an intern to have somethin to put on your resume thatll just end up in a pile of 200 equal/better resumes anyway
                                          Comment
                                          • big joe 1212
                                            SBR Posting Legend
                                            • 06-01-08
                                            • 19380

                                            #22
                                            financial analyst jobs are not looking good now and in the near future!
                                            Comment
                                            • Kingctb27
                                              SBR MVP
                                              • 07-16-08
                                              • 2258

                                              #23
                                              Originally posted by big joe 1212
                                              financial analyst jobs are not looking good now and in the near future!
                                              Not my career plan, just want to make money this summer.
                                              Comment
                                              • big joe 1212
                                                SBR Posting Legend
                                                • 06-01-08
                                                • 19380

                                                #24
                                                when do you expect to graduate?
                                                Comment
                                                • bettilimbroke999
                                                  SBR Posting Legend
                                                  • 02-04-08
                                                  • 13254

                                                  #25
                                                  Originally posted by ertl09
                                                  Easy to find a job in bigger cities, I'm from a smaller town and its almost impossible to find an accounting job or intern.
                                                  Good advice, if you live in a small town you might as well apply for McDs there are simply no open accounting jobs
                                                  Comment
                                                  • Dougie Fresh
                                                    SBR High Roller
                                                    • 11-01-08
                                                    • 226

                                                    #26
                                                    I heard you can sit for the CPA with 120 hrs in some states. Anybody know if that is true?
                                                    Comment
                                                    • big joe 1212
                                                      SBR Posting Legend
                                                      • 06-01-08
                                                      • 19380

                                                      #27
                                                      The CPA exam requirements are changing here in NY this August. You will now need a masters degree to sit for the exam, unless they change it again like they have before at the last minute. This will create a larger shortage of CPA's
                                                      Comment
                                                      • big joe 1212
                                                        SBR Posting Legend
                                                        • 06-01-08
                                                        • 19380

                                                        #28
                                                        Originally posted by Dougie Fresh
                                                        I heard you can sit for the CPA with 120 hrs in some states. Anybody know if that is true?
                                                        a few states you still can sit with 120 hours
                                                        Comment
                                                        • Kingctb27
                                                          SBR MVP
                                                          • 07-16-08
                                                          • 2258

                                                          #29
                                                          I am graduating in fall of 2010. Likely do a big four internship in the spring and then grad school immediately following that.
                                                          Comment
                                                          • ericmangin
                                                            SBR High Roller
                                                            • 12-06-08
                                                            • 179

                                                            #30
                                                            since everybody's such an expert, which is the best way to report gambling winnings on a tax return?
                                                            Comment
                                                            • big joe 1212
                                                              SBR Posting Legend
                                                              • 06-01-08
                                                              • 19380

                                                              #31
                                                              Originally posted by ericmangin
                                                              since everybody's such an expert, which is the best way to report gambling winnings on a tax return?
                                                              Line 21 (other income)

                                                              You can offset this if you have losses by itemizing
                                                              Comment
                                                              • big joe 1212
                                                                SBR Posting Legend
                                                                • 06-01-08
                                                                • 19380

                                                                #32
                                                                Originally posted by big joe 1212
                                                                Line 21 (other income)

                                                                You can offset this if you have losses by itemizing
                                                                save losing tickets and get loss statements from casinos!

                                                                You only itemize though if your itemization is more than your standard deduction, otherwise you eat the winnings and pay taxes!
                                                                Comment
                                                                • ericmangin
                                                                  SBR High Roller
                                                                  • 12-06-08
                                                                  • 179

                                                                  #33
                                                                  what if the majority of my gambling is done offshore, how would that be even reportable?
                                                                  Comment
                                                                  • big joe 1212
                                                                    SBR Posting Legend
                                                                    • 06-01-08
                                                                    • 19380

                                                                    #34
                                                                    Originally posted by ericmangin
                                                                    what if the majority of my gambling is done offshore, how would that be even reportable?
                                                                    its not!

                                                                    just make sure you keep transactions under 10k

                                                                    they will never know
                                                                    Comment
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