credentials v2.03 | SHOULD YOU TAKE THE CPA? | a tax lawyer vlog
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- Опубліковано 8 вер 2024
- Should you take the CPA? Should you get that extra degree? What about that next credential? This week is the first four city week of Season 2 where we dicuss credentials and professional exams.
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If you're interested in international taxation, follow me below on Twitter @xbordertax.
If you're interested in international taxation, follow me below on Twitter @xbordertax.
You're like the Casey Neistat of accounting, I love it lol!!
Samie High praise. Thank you!
Absolutely deserved, you really are an inspiration to me, just starting out my career.
Great video! The cool tune made me want to keep watching. I am currently an Accounting & Financial Econ major and the thought of law school is very new to me but I have been looking into it more and more recently. I have been told by many, many people to get my CPA and this video makes me want to sit for the CPA a year after I graduate, work as a CPA for a couple years and then apply to law school. I’m only going to be a sophomore but it doesn’t hurt to start exploring! Thanks again!
This is the same position I'm in! Currently a sophomore studying accounting, trying to get a feel for what options I have once I graduate. Any updates/revelations that you can share?
Thanks for your perspective on this. I’m a third year Law student going into tax law. I plan to get my LL.M. in taxation when I graduate. I do not have an accounting background, or even a technical background. I am beginning to feel compelled to know more about accounting bc I’m always the outlier English major among my peers/ people I speak to.
Dope video ‼️
Doug, your channel is great for background while working from home! I think you offer some good advice on the CPA exam. I would add that the CPA has been worthwhile for me (I've been in Intl tax since college - 13 yr career so far), but you have to know yourself and know your "why". I took breaks along the way in my education and CPA journey. Accounting was not my first major (Math Ed was) in college, so after changing majors and going to school for 5 years, I was burned out. I waited 4 years to attend grad school after I had more work experience and knew I wanted to stay in tax. My boss convinced me to get my CPA because if you work in tax, it helps you no matter what path you take - industry, public, or even working for yourself. Once I was motivated and obtained my MTAX, it was a quick process to get through the testing because I knew my why. Postponing also lowered my debt because i could pay with either savings or tuition reimbursement rather than student loans. My point is people should talk to others about the importance of a CPA, but you have to do it for yourself and know your why, or your path is going to be much harder.
My two cents as a fellow PwC partner (or actually a principal because I don't have the CPA credential, how appropriate for this video): Credentials help you get in the door when looking for a new job. Once you have a job at a reputable firm, clients really don't care about credentials, in my experience. They assume your firm hired you for good reason and they just want good service and technical expertise from there. The "PwC" brand in front of your name (or any other strong firm brand) will be more than sufficient even if you don't have any more acronyms after your name. So, if you're in the market for a new position, by all means pursue those credentials. But, if you're in a good place and plan to stay where you are, focus your time and energy on building your technical skills and client service skills. That time will be far better spent than chasing additional acronyms. Just my two cents. Another great video.
Couldn't have said it much better.
Thanks Reuven. It’s all about getting in the door. I needed the JD to even be considered by PwC.
The billable hours get a nice bump though
Hey Doug new subscriber here. As an accounting student This is very useful. Thank you for taking the time to share your insight and experience.
Great Vid! Someone shared your channel on the accounting subreddit and I'm super glad they did. Enjoying your vlogs!
Could you make a video about the beauty of working at Public accounting compared to Private accounting?
Very insightful, this came to me at the perfect time.
Thanks Tatenda! Are there other subjects that would be useful?
Great piece Doug, smooth intro!
Thanks Carl!
Great video! Your videos are inspiring and entertaining. Keep up the good work.
Thanks for answering for my past question, Doug !
Awesome video, man!
Why do you regret not taking the CPA? It seems like you've climbed the ladder successfully without one. Do you think it would have accelerated your path?
Thanks for the vlogs - very insightful for an undergrad like me
Joe Swaney I regret I didn’t do it right after finishing my accounting program. I would love to have that credential but, in hindsight, it wouldn’t have impacted my career.
@@DougMcHoney Gotcha. Thanks for the quick response!
Part II:
My goal is to operate my own Tax Service with a niche focus in cannabis related industries.
Hey that was really helpful
These videos are a great insight for someone who want to pursue their careers in accounting or tax
Can u make a video or brief about BEPS and transfer pricing??
And tell about sources as in websites or books to stay updated about international tax??
Btw keep it up!!
Thak you! I tend to stay away from technical tax topics on the vlog. I cover that stuff on our Inside Tax Policy app (which I appreciate it subscription only). Let me think about whether I should do a technical tax video - probably a separate video not apart of the vlog.
Hello Doug, my name is Art I'm currently a MTax graduate student. I have a BSBA in Accounting. I'm a late starter I graduated at 47 yrs of age. My purpose was to acquire my business degree to become a commercial lender, however I began to take an interest in tax matters. Started advising small businesses regarding tax planning, tax services and tax controversies.
I've never had any intentions of sitting for the CPA, instead I considered EA , NTPI Fellow, CTC and USTCP. Recently, I've considered law school, with intention to represent my clients per any legal venue. My question" Is it wrong to b/c a JD MTax w/ a EA instead of a CPA certification?
I think a CPA is much better than a EA but if you're doing the JD you likely don't need the CPA. A CPA is always valued, however. Thanks for the comment.
Tax Attorney look in the Legal Side, Accountant look into Numbers.....
Jessie B. Karla
Does the Big 4 hire many fresh MBA grads? If so, what types of roles (versus what an undergraduate would be placed into)? I always hear about plenty of undergrads going to Big 4 but I don’t know much about the MBA side
So basically drop the law school plan and get the cpa. Gotcha.
I loved my law school experience. It depends how much flexibility and opportunity you want in the short and long term. If you know you want to be in Big 4 public accounting and have the the creds to get in out of undergrad, then you don’t need to go to law school to do what you wanna do.
@@DougMcHoney Cool. Thanks for the reply.
The California Franchise Tax Board is stealing my federal stimulus money I have years of overpayments they refuse to address
Jfc 5 hours of conference calls. Fuck that
Hey Doug, I am an Australian CA (CPA equivalent ) who started career 6 yrs ago in tax accounting...As i have been seriously thinking of enhancing my technical skills and differentiating myself just completed MTax and going through it & reading and following most great tax partners and leaders most of the tax thought leaders have law degrees i.e. LLBs/JDs so every now and then I wonder since I am a tax mgr now is it worth going to do law degree to get that edge and think like a lawyer and not just an accountant or are they other ways for tax professionals with no law background to get those skills without going back to college? As well as is not having a law degree/license an impediment to your credibility if goal is to contribute to tax law journals and be a thought leader in tax policy and possibly even publish tax materials in the future?
Judah Chikomba I don’t think you need a law degree. Many of my mentors never went to law school. Just keep working hard, study on your own, and write some articles.
Doug McHoney thanks for the insights and advice will keep getting technical...as always appreciate your contribution and generosity with your time