Small Firm Advice

Viewing 5 posts - 1 through 5 (of 5 total)
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  • #3304589
    Sharpone
    Participant

    Hi, I have been working at a small accounting firm for less than a year now as a tax preparer/bookkeeper and, because of it's size, most of the work has been trial by fire, in that the seniors have not “had the time” to train me on some things. I have been doing my best by referring to the IRS website, re-reading my Becker and college textbooks and Googling reputable websites, but would appreciate your advice on an even better way to ensure that I am completing assignments correctly. Would anyone recommend a YouTube presenter or group of webinars to help me make a better connection between the experience that I need and the knowledge that I have from college courses and recently passing the CPA exam? Thank you!

    #3304601
    monikernc
    Participant

    tried to post a response. opened a support ticket

    AUD - 93
    BEC - 82
    FAR - 76
    REG - 88
    How have you been?
    Ninja book and MCQs and the forum, all first try! 2016
    Licensed State of Montana April Fool’s Day 2020
    State of Colorado June 2020 - AICPA Ethics 93
    Experience was the worst part of the journey for me. You?
    If you want things to change you have to do something different.
    #3304607
    monikernc
    Participant

    This is a big deal for those of us who didn't go through the Big 4 in our early/learning years. Small firms don't want to train. The good news is you can learn it on your own. I do most of my own heavy lifting on figuring things out and reviewing for correct treatment and accuracy – it can be daunting. Keep doing everything you say you are doing.
    For tax work, ask them to order “The Tax Book” Deluxe Edition. I use it all the time and get the updated version every year. It provides straightforward tax treatment of every topic for individuals, trusts, estates. There is a business version for those returns as well. Excellent quick reference guide and an online community and other resources.
    See if your tax software provider will send you a US Master Tax Guide each year that is the entire IRC with indexing which is nice. The online IRC at at Cornell is great until you need cross-referencing. We get them from an Edward Jones advisor so reach out to a local advisor and introduce yourself (you may have clients in common but referral sources are always good to know and share with) and see if they will put you on a mailing list for those every year.
    Your tax and software providers will have online training too and like Lacerte Tax you should have online communities for posting inquiries and reality checks. I use that mostly for asking about how to correctly enter information to get the correct treatment on the prepared return.
    CPA Academy has some great CPE courses for free that are very informative on tax topics. They also do general accounting webinars. Go for it.
    The biggest thing I do to address this is my membership in my state's CPA society – provides continuing ed and networking opportunities to help me build a peer group for help with the harder questions with more seasoned professionals. The benefit of this cannot be overstated. I belong to a society based Tax Workgroup that meets online monthly and it has been incredibly helpful and informative. It is comprised mostly of sole practitioners who have been at this for 20+ years so it is a master class in tax every time I attend. Really wonderful group of people. I felt so connected during COVID to this group it is a great experience.

    I do live eat and breathe this stuff and it is what I feel needs to be done to get it right. Don't be shy about tracking down help outside the firm. Find other local CPAs for mentoring. Finding another job is probably a good idea for taking it to the next level, too, when you feel ready. Not all firms are unhelpful – some of these practitioners are a wealth of info and are willing to share. Go find them…
    Good luck.

    AUD - 93
    BEC - 82
    FAR - 76
    REG - 88
    How have you been?
    Ninja book and MCQs and the forum, all first try! 2016
    Licensed State of Montana April Fool’s Day 2020
    State of Colorado June 2020 - AICPA Ethics 93
    Experience was the worst part of the journey for me. You?
    If you want things to change you have to do something different.
    #3304610
    Sharpone
    Participant

    Thank you, monikernc, for all of your helpful advice!

    #3304613
    monikernc
    Participant

    You are welcome. I get it and have had to build a network of my own. Do you mind telling what state you work in? Just curious.

    AUD - 93
    BEC - 82
    FAR - 76
    REG - 88
    How have you been?
    Ninja book and MCQs and the forum, all first try! 2016
    Licensed State of Montana April Fool’s Day 2020
    State of Colorado June 2020 - AICPA Ethics 93
    Experience was the worst part of the journey for me. You?
    If you want things to change you have to do something different.
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