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Posts Tagged ‘Accounting’

Becoming A CPA

Tuesday, November 17th, 2009

Once you have determined that you are a good candidate for an accounting career, you need to determine if becoming a CPA is the right accounting career for you. To do this, you must understand what a CPA does. A CPA can be employed individually or within a public accounting firm in tax or audit services. A CPA is, of course, a public accountant. That means that the CPA provides services on a fee basis, basically meaning that the CPA works for the public in general rather than a specific corporation or company. This can translate into variety in your CPA career.

CPAs make an average of $36,625 per year as a starting salary within local firms. Within national firms, a CPA can have a starting salary of around $44,375 per year. These figures may not seem fantastic, but for starting salaries they are very competitive. A CPA can easily start out making enough money to be considered middle-class income level, which is not a bad place to start in today’s society. Once you have decided that you want to become a CPA, you must attend a college or university to obtain a Bachelor’s Degree in Accounting. All states within the United States of America have a Board of Accountancy or similar department or agency that lays down the requirements for an accountant to become a certified CPA. These requirements will tell you how many credit hours of your education must be in accounting related courses in order to become a CPA.

Once you have completed your degree, the Board of Accountancy will want you to undergo testing to see if you can become a certified CPA. This testing may include ethics examinations as well as examinations to test your knowledge of generally accepted accounting principles, accounting laws, and accounting regulations for your state, as well as tax law and principles. Once you have passed all CPA examinations, some Boards of Accountancy may require you to provide them with references. These references should be people that can attest to your work ethic and moral character. These aspects of a CPA are very important, because CPAs have a lot of opportunity to commit fraud and embezzlement crimes. Therefore, only CPAs who have demonstrated good moral character and a sense of ethics is allowed to receive a CPA license.

Choose The Right Tax Software

Tuesday, October 6th, 2009

The first step in finding the best tax software to use is to check the reviews in computer magazines and on websites to narrow down your choices. It is important to compare the features and the prices of the tax software as the most expensive ones do not necessarily have all of the options that you may want. Another point to consider with the cost of the tax software is that there are different charges for their online filing which can vary considerably.

There are many different brands of tax software available. A good tax software program will make preparing all of the forms easier and will save you a lot of money instead of hiring the services of a tax preparation specialist or other tax professional. However, if your taxes are basic, you probably won’t save that much time by doing them electronically with tax software.

It is important to check if the tax software program generates state tax returns or if you have to pay extra for state income tax software. Often you need to buy the deluxe version of the tax software to be able to file both forms but the added benefit of this is that these will include many additional features such as tax advice, IRS publications and other information along with accurate form preparation.

You may not necessarily need to buy a specialized tax software program as there are a lot of services available on the internet that allow you to prepare and file your return from their website for a small fee.

It is essential that you ensure that your computer meets the minimum system requirements of any tax software program that you download or buy. It is also worth investing in a printer so that you can make a hard copy of the forms that you file, even if you file them electronically over the internet. Also make sure that you use the current version of a any tax software program as it changes every year along with tax laws. Most tax software will allow you to upgrade quickly and easily.

At http://www.idmsinc.com/, during the past 25 years, more than 100,000 tax professionals have used Account Ability to prepare their Information Returns (1099, 1098, 5498, W2G) and Annual Wage Reports (W2, W2C). For one low price, Account Ability includes electronic filing (IRS FIRE, SSA BSO), plain paper filing (laser, inkjet, dot matrix), import/export capabilities, and more! So, if you are searching for a cost effective software solution that is both IRS and SSA compliant, you found it! Download the FREE trial version and see for yourself.