[yingyangsoup89]

Hi another71er’s,

I need your input, please.

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Background information:

I live in Iowa. I’m 25 years old.I have an active CPA license, masters degree in accounting (audit and financial reporting emphasis), and 1 year of public accounting experience (audit and tax).

I come from a CPA firm that employs about 100 people and requires at least 60-65 per week during tax season (very stressful).

I’ve always had this thing for audit and solving puzzles, and I scored the highest on that part of the CPA exam. In my last firm, I was a staff accountant working in both audit and tax. Realistically, I probably spend 65% on tax and 35% on audits/reviews, although my firm said it’d be an equal mix of both.

I’ve done returns and tax planning for all types of entities besides non profit and estates/trusts. I disliked tax season hours. I disliked traveling long distances for audits/reviews (greater than 30 miles) and overnight trips. I enjoyed box audits. I don’t know how I feel about tax. I feel that it is very entrepreneurial, meaning that you can land some gigs fixing companies’ books and preparing their tax returns on the side or even your friends’ returns.

I’m looking to relocate to Colorado. I’m open to all areas in the Denver metro and northern colorado (boulder, fort collins, etc).

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My goals:

Public accounting isn’t the end for me. The only reason I’m in public accounting because it is the missing stepping stone (so “they” say) to landing a corporate/government position, which is what I desire. I desire an 8-4:30 schedule. No tax season. No unnecessary stress. I want to live. I want to work to live, not live to work.

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The offers that I have to chose between:

1. CPA firm #1, Lakewood, CO

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> I would be primarily working in their audit services, and would work in tax whenever I am slow or the tax department needs help. Basically a staff auditor. I’d be working on Prosystem FX, which is what I learned on. Minimal travel, no overnight trips, and mostly local/box audits. Staff of about 10-12, tops. Hourly permanent full-time position @ $24 per hour. Guaranteed 32-40 hours year-around. PTO/Sick time, retirement, no healthcare benefits (I’m not 26 yer). Overtime is discouraged and only allowed on a project-to-project basis, depending on the client needs.

^ Concerns: Llack of healthcare benefits, no ability for SOME overtime (which isn’t a bad thing), and the $24 per hour rate. I feel that I would need more than that to live comfortably in the Denver area.

^ Pros: I would work in audit which is a great stepping stone to landing a corporate or governmental position. Ability to work in tax as well.

2. CPA firm #2 in Longmont/Niwot, CO.

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> This is tax only position. Basically I would be cleaning up the client’s books and preparing their tax returns. I would help with tax planning and other miscellaneous tasks on the side like payroll/oil & gas/ sales tax forms. I am paid per hour @ $27 per hour. I am guaranteed at least 30 hours during non-tax season, and am expected to work between 40-60 hours a week in tax season (so say, 50 hours) I would be paid overrtime as well at $40.50 per hour. Very flexible schedule. I would work with Ultra tax which is something new to me. Very small firm. About 5-6 employees in a very small town with a laid-back feel.

^concerns: no healthcare benefits or retirement benefits and the fact that I’m working only in tax may limit my ability to make the transition to governmental/corporate? I feel that tax is very specialized and audit is more “catch-all” and would better prepare me for my future plans.

^Pros: good pay. overtime pay, small firm, laid back, flexible, no crazy hours (40-60 is reasonable in tax season), small town, no traffic, close to boulder, etc.

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Conclusion:

These are both temporary opportunities (I plan to stay about a year, gain more experience, and move on). I really like both opportunities. They are laid-back small firms with great employees. Both in great locations. Both positions don’t expect me to put in a lot of hours, which is nice.

If the audit position would increase their hourly rate to the range of 26-28 per hour, I’d accept it in a heartbeat (i’ve already tried and they only budged from 23 to 24). I feel that audit is the best way to achieve my goals, but I could be wrong?

The tax position pays well but I’m afraid that if i accept it I wouldn’t be marketable down the road to corporations or governments.

So this is basically an audit vs tax question. But it also comes down to compensation, because Colorado is rather expensive.

I need your help/opinions!

Thanks!

FAR-89
AUD-92
REG-84
BEC- 90
Ethics-93

Licensed CPA, State of Iowa.

[PurpleK]

If you wanted a stress free career, you should have became a yoga instructor.

You don't need public accounting to get a position in private. Those are fairly easy to come by if you are just looking to be a staff accountant with very little upward mobility and low pay.

However, if you want a well-paying position in private, public is highly recommended. The reason public is a stepping stone to highly paid, influential positions in private is because those people have been willing to put in the hours to show that they are ambitious and hard-working enough to fill those positions. If you are unable to handle 60-65 hours a week and work-related stress, then I am not sure this type of position is for you.

From the two choices you listed, you should do what you enjoy and take offer #1.

[soyanks]

I am with PurpleK here. Whether it's tax or audit, there's no such thing as a “stress-free” 8-4:30 job (at least not in the major cities).

If you are switching from tax to audit, consider these factors:

1) No matter what, you will have to start over as a staff auditor.

2) You've never done audit so who knows if you will end up enjoying that line of work.

3) Tax vs audit – It's about the type of work you want to do and the career trek that you want to choose. Not sure how choosing one path over the other will make you less marketable. If you want a general accounting/finance career in the industry, audit is the way to go. If you are fine with tax career, continue down this path.

Also, it seems like both of your options lack healthcare. If that's a big factor, stay for the busy season and then move on to bigger firm where they will offer you better compensation and benefits package.

FAR - 86
REG - 85
BEC - 90
AUD - 84

[fuzyfro89]

Given you don't want a career in tax, as of now, I'd say go for the audit position.

It's $3/hour. $6k/yr. If you plan to move on after a year, and if you take the hgiher paying tax job, then you'll be limited in the next move.

Don't be “short term greedy”. It's 1 year that you plan to stay, so go for the better experience. Is $6k worth being in the same situation a year from now?

[randerso]

I'm curious — during this process, did you apply for private accounting positions? If your end goal is to be in private/government, this might be a good time to make that jump. With a CPA and a year of experience, I would think you could find a staff or senior accountant position.

REG: (May 2014) - 80 ✔
AUD: (Nov 2014) - 93 ✔
FAR: (Oct 2014) - 71, (Jan 2015) - 88 ✔
BEC: (Feb 2015) - 89 ✔

CA PETH: 94 percent

[mena je twa]

Dude,

Colorado in general is laid back, since POT has become legal…

But seriously, i would take the pay cut and join audit, spend less on food and others but i would accept audit position, as it will open up the doors for you in the future…

Licensed CPA, Texas - 2012

[FDR8703]

I agree with most, you don't need to stay in Public under your scenerio. But be advised on a few things I caught you saying.

1) There are no accounting jobs, outside of being a staffer or bookkeeper that is a 9-5 job. If you ever break into management positions in private or government, you'll be busy at many times. You won't work the same hours as at Public Accounting firm, but you'll have month ends, regulatory & financial audits, and all other things that will make you busy once you hit manager (even some senior associates).

2) Audit isn't about problem solving, though many believe it is. It is very compliance heavy, and non-analytical. Yes, there are some testing procedures that you run analytics on, but it is not analytical in the way most want Audit to be. You will learn about how a company runs from top to bottom which makes you very valuable, and it will give you great understanding of the financial statements and reporting. But if you are looking for it to be analytical and problem solving, that is not what auditors do.

Ultimately, I think you should look know for a job in Private/Government, as one more year on your resume won't benefit you that much more.

Good luck!

[tomq04]

Longmont is supposed to be in the runnings for the best town in the country, it's also the home of one of my heroes:

mrmoneymustache.com

REG- (1) 76
FAR- (2) 64, (5)74, (7)83 (Over achiever!)
AUD- (3) 70, (4) 75
BEC- (6) 75

[EverybodyswaitingfortheCPA]

@yingyangsoup89 – If we may ask, what was your job search process of finding a position?

BEC - ✔ REG - ✔ AUD - ✔ FAR - ✔

Becker + NINJA MQCs for FAR

Licensed January 2015

[Herbieherb]

Ya u dont need to go thru another public acctg gig to land your end game job. Go for that now and get promoted within or u can jump around from there. With a cpa and public acctg exp already you are good to go now

NEW YORK- DONE

[yingyangsoup89]

I've tried very hard to get in with corporations but haven't had any luck. It seems like corporation's are looking to hire more of a senior level accountant/auditor. So that is why i'm resorting to public accounting for another year so that I'm able to land a good corporate/government position.

My job search process has been contacting recruiters, and applying to positions on indeed and craigslist. I've done numerous phone interviews and in-person interviews since August 2014. Finally landed some offers.

I think I should go with the audit position. I think the only reason I was considering the other position is because it pays more, and I was being “short-term greedy.” I feel that this audit position with allow me to make a smooth transition into a corporate or governmental auditor in a year or so.

I feel that I could live comfortably off $24 per hour in Colorado? I'm single and would be living in the Lakewood area, which is the west to southwest side of Denver suburbs. Correct me if my assumptions are incorrect.

The audit gig is nice because i'm a non-exempt employee so I would be paid per hour and overtime. It sounds like my firm discourages overtime and it is only approved on a project by project basis. My supervisor has made it sound like it's a fixed 40 per hour week schedule year-around, which is almost impossible to find in public accounting. 8:30-5pm office hours.

It turns out that I would accrue PTO and sick time (after 3 months), and am eligible for benefits and retirement. The tax position did not offer this.

I think the audit position may the best path for the time being.

Now I need to find housing. Thinking that renting may be smarter because I have flexibility.

FAR-89
AUD-92
REG-84
BEC- 90
Ethics-93

Licensed CPA, State of Iowa.

[EverybodyswaitingfortheCPA]

@yingyangsoup89 – Sounds like you have the right perspective out of the gate. Good for you for wanting to move to CO and out of Iowa where there isn't much to see (I grew up in NE & SD). Renting could be a good solutions to your plan if you're going to move on in a short time. Also, the benefits, althought you're young, are a great perk that is often underestimated! Keep in mind the long term and have a goal! Best of luck to you!

BEC - ✔ REG - ✔ AUD - ✔ FAR - ✔

Becker + NINJA MQCs for FAR

Licensed January 2015

[Author]

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