[itooshallpass]

This is gonna sound like I’m whining, so feel free to skip to the end. Just looking for advice.

So I’m 6mo out of college and 3mo into my first job as a staff accountant/tax preparer at a local firm. My initial training was good, and the partners and other cpas are friendly, helpful, and for the most part approachable. I’ve definitely got the basics of preparing a return using the software. But I think I’m missing a lot and still make too many mistakes.
My college tax classes were 3 years ago and honestly horribly taught, so I don’t have much to go on there. I haven’t had a ton of experience yet at work either — I was hired during extension season and got to do a number of simple returns then, but got hung up a lot on more complex ones and didn’t get much feedback on my mistakes cause the partners are so busy (understandable). I still have trouble looking at returns or work papers and figuring out the logic of what goes where and WHY. I get especially confused with entity returns and adjusting entries and the flow of information there. I really feel like I’m behind where I should be and I don’t know what to do.

TL;DR: can anyone with some tax experience advise a newbie on how to improve? Research, resources, or even how to ask my bosses for help without looking like an idiot? I feel like an idiot. Feel stupid even posting this.

(if this ends up being a duplicate post sorry I tried once and it didn’t show up anywhere…)

[Recked]

I would rather someone ask me if they do not know, than have to fix the mistake later.
Always ask, you are expected not to know everything.
Take notes, seriously. If someone asks me a questions, and I explain the answer, I like to see them write it down. That way they won't ask me the same question again, and it looks like they are making an effort to learn. H&R Block tax class might be of some use as background info, but if they know you work for a firm they will kick you out of the class. Redoing returns is a great way to learn how things fit together and why, and you have a cheat sheet of what the forms should look like after they are done.

Write things down as you progress through tax season, so after things calm down, you can seek out answers to the things you did not know.

Unfortunately the best learning is on the job doing, so expect trial by fire in Jan – April. Good luck.

[jenpen]

If you've got some down time now, I would take time to look at the returns. What helped me was printing out the return, and then going into the software to find the numbers. This way not only would I know where they should be entered, but I could see how things would flow through the return.

Like @ReckedRacing said, it's going to be a lot of trial by fire and learning on the job. Just breathe and ask questions. I still ask my boss a ton of questions I feel like and I've been at my job for 3.5 years. You'll get there. Don't be so hard on yourself. 🙂

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[ryan.andrew6]

Unfortunately, with tax you won't find much logic! I had a chance to talk with the guy at the IRS in charge of the division that writes the forms, when tax laws change they literately just put line items where they fit…

But seriously, I started in tax during the summer and it wasn't until my second full season that I felt like I really understood some of what I was doing, so I really don't think you are too far, if at all, behind. I agree that redoing returns is a great way to learn, one year we changed software and I was in charge of re inputting the old returns into the new package (many didn't convert) and it was a great help, especially when it came to the M1 and M2s.

Trying to figure why things go where they go has less to do with taxes themselves and more about the principal and their preferences as well as how the software works. It's more important to visualize what the end product, the return, should look like and make it happen, you also need to be able to accept “it is what it is” as an answer sometimes – a lot of the time the process will never make sense. I know that's not super helpful but I think looking at the big picture is more beneficial in the long run.

Maybe sit down with your supervisor and ask how you're doing before asking for help? I think the topic of improvement will then come up naturally.

Hang in there, you'll figure it out, it just takes time.

[Stilgoin]

You can always get a part time job with a tax prep company such as H & R Block. I know what they do may seem trivial to our profession, but knowing those basics inside and out will help you tremendously in the long run.

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[runegoblet3xx]

I've been with my firm for a little over a year now, not including my busy season internship, and at times I still don't feel like I know what I'm doing either. It's not unusual at all.

I had a crappy tax class as well, and most undergrad classes don't give you the building blocks in order to do tax returns.

I totally agree on taking notes. I also agree with practice makes perfect. The more returns you do, the more you'll retain, and the better you'll become.

If your software provides a “Two-Year Comparison” sheet as well, I'd suggest looking at that, too. When you have downtime especially, review that sheet and see if you can determine what, and why, the differences are. I do that a lot with my own self-review.

[CPAwannab]

Also, not sure what your next exam is but if it's REG, i think you will understand more after studying for this section. I have few years tax experience (mostly 1040's) but it helped me a lot while studying for REG. It's like theory meets practice. I had a lot of “i got it now” moments and it felt great

[kay]

I am in the same boat, with a slight advantage because I worked for hrblock for 2 seasons. So I tend to understand the big picture and what the return should look like but struggle with the work papers. At my firm we get detail points I didn't during extension season but plan to make copies of my detail/review points going forward. That way I can continue to create cheat sheets to remind me to check for my common errors before sending a return to detail. It may be a thought to create yourself some notes on what to look for before turning a return in, and also don't be afraid to ask, it's always better to ask and get it right then for someone to waste a ton of time trying to figure out what the heck you did.
Good luck, tax season should be a great learning experience even if it is a bit intense at times.

[itooshallpass]

Thanks so much everyone. It's good to know others have been there too 🙂 lots of good advice that I plan to apply.
Whenever they get a new client the partners give me their past return to input, and that has been helpful in seeing the big picture. I'll ask them if it's ok for me to access returns I'm not currently working on to review and practice.
I plan to start studying for Reg after tax season, looking forward to hopefully making more connections there.
I don't know if this is even a thing, but has anyone taken some kind of independent tax course? Like an online workshop or something like that?

[kay]

The aicpa has a tax school, it's a week long intensive training. My firm is sending me to it. It is pretty spendy but I'd talk to your firm and find out what they offer for CPE, and check your local CPA society to see if they have a tax “boot camp” to get everyone up to speed for tax season.
Also I'd recommend studying FAR to really start grasping entity returns and the adjusting entries required. Sounds a little counter intuitive but I took REG first in August, then sat for FAR in October right after extensions were done and I had so many light bulb moments during those weeks of studying and doing a good bit of returns. It really starting bringing things together for me when it came to reviewing a clients general ledger to identify potential adjustments.

[Recked]

I'll ask them if it's ok for me to access returns I'm not currently working on to review and practice.

Don't touch any old returns. That information needs to stay intact, especially for proforma into the 2017 software.
Not sure on your firm but my initial software release dropped in November, and we've already moved the clients forward.
There is nothing worse than an e-filed return being tampered with after the fact.

Ask your boss if you can create a Client, Test data file to mess with.
You can do returns in there, and see how different items affect different things on the return.
I have a client named Test Client on my system so I can do things on the fly.

[itooshallpass]

@ReckedRacing we have already proforma'd for 2017, but with 2016 returns that have already been e-filed the software locks it and lets you go in in a read-only mode.

Test client is a good idea though. Will look into doing that.

[kay]

At my firm there is no issue with us accessing old returns, it's all about firm protocol and culture. We trust that people aren't making changes. I think if you're going to be accessing live data it's important to have some safeguards and to also teach everyone to protect the information, not necessarily never access old returns. Looking at things is how you can learn just be aware so that you don't corrupt the files.
One of the greatest learning tools for me has been looking at completed work papers along with the completed return and walking through how it was prepared and how that preparation is properly documented. This includes looking at both the physical return and also how it was in put into the software.

[shawn in VA]

the person who said go work at HR block is a nimwad.

THey pay $12 an hour in my area, it is high stress, and they fire you april 16.

DO not do it!!! Mcdonalds pays $11 in my area and that would be a better job

[itooshallpass]

Haha not planning to work at HR Block — I have a full time job in a local firm. I would take their tax class if I could though!

[Josh]

Every December I go to the Drake Software website which is an okay tax prep software for small firms and I save all 12 of the practice returns and all 12 solution sets for my tax preparers. I have them do all 12 in our software one by one and match them back to the solution sets. It's always a win for the season.

Honestly, the best CPA's I've worked with in my firms always had the mindset that a weak tax prep ability is related to weak understanding of how a trial balance is composed. When you fully understand how a trial balance is built and what goes into each number the tax return is a breeze. Usually spending some time bookkeeping (which a lot of people will snub their nose at) will lend to stronger tax prep skills.

My first job was helping with representation work so I handled the return after it had been filed and kicked back with the infamous IRS notices. Working backward from the finished product was a huge learning advantage. My audit side is showing but I would often just randomly pull huge old returns and re perform the return under a made up name in the same year software (we always kept active versions of every year's software back to the late 90's).

And for the record, mentioning H&R Block in a CPA thread is like raving about Burger King in Food & Wine magazine. Gross.

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