[mla1169]

But it just occured to me that in addition to preparing my own personal tax returns, I also do a few of my friends’ as a favor to them every year.

I never sign them, just do the math, let them review, let them sign…..and then they mail or submit on my computer.

Does having a CPA license require you to sign off as a preparer, even on your own returns……if thats not what you do for a living and you’re not being compensated for it? (well unless a bottle of wine is compensation, I suppose)

And if that is the case, does having a CPA entitle you to prepare tax returns for compensation even if the extent of your Tax knowledge is studying like crazy for REG and whatever classes were required for a M.S. in Accounting and Finance?

FAR- 77
AUD -49, 71, 84
REG -56,75!
BEC -75

Massachusetts CPA (non reporting) since 3/12.

[johnjohn1]

I think once you get your license you should be very careful with this type of stuff. I think the main question is, is it worth losing your license over this? Honestly, people, even your own friends, can sue for any reason? Maybe the guy ends up having a tax problem you didnt see and decides to sue you claiming he trusted you, a CPA.

Personally anything that may jeopardize my license I am steering far away from. It is a lot of hard work to get the CPA, and you don't want to get it taken away.

Just be careful in this crazy mixed up world.

[Author]

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