[kmwgrace]

From which order I should take the exams in to whether I should take them at all. I posted a few weeks ago that we had a business opportunity to buy a franchise. We decided not to buy the franchise but we did start a business on our own – a home-based travel agency.

I graduate on May 12 with my Master of Taxation. I have all of the Becker materials. My last class for school is the Becker class, and we are on the last section, BEC. I’m losing confidence because on the tests for my class, I got 72 on Aud, 72 on Reg, and a *gasp* 48 on FAR. Now the best grade I can get for the class without some kind of curve is a C. Thankfully that won’t make me ineligible for graduation, but it doesn’t make me happy either. My original plan (as suggested in another thread by forum members) was to take FAR, AUD, BEC, then REG because with my tax background I expect REG will be my strong suit. Now I’m thinking I might want to take FAR last so that after I pass everything else I can study FAR until I pass it without worrying if I should move on to studying the next thing or not. Also if I pass my 1st section that will be a confidence booster whereas if I fail my first section that could demotivate me altogether.

Along with all of this is the travel agency – my husband was a travel agent for 10 years before he went back to grad school for his PhD. He has a full time tenure track position, but he is committed to doing what it takes in addition to that to make the travel agency successful. I just finished up tax season at H&R Block, but I missed almost all of the last 3 weeks due to a medical condition (which is still not resolved). Now I have to figure out if taking the CPA exam will actually benefit me if I decide to go full-boar into this travel thing. I’d have to work for another CPA for a year in order to get licensed and I must confess, I’ve not had much success in the workplace. A big reason why I went to grad school. Add a chronic medical condition to the mix and it makes me really hesitant to commit to working full-time outside of home. I do have HRB lined up for next tax season but as mentioned previously, it’s a franchise office and there are no HRB CPA’s locally who can sign off on my hours.

I’m just so confused. Hubby says he will support me in whatever decision I make. I’m getting mixed reactions from friends and family. I could just “hang a shingle” as a tax preparer after my obligation to HRB next tax season is met, and do the travel agent thing. With this in mind, I’m wondering if I really want to commit the time and $ to taking the exam at all. I just don’t know what to do.

~ Kate... MTX!
CPA exam on hold while I homeschool my 6 year old!

[Anonymous]

If FAR is your weak point, I would take that first. Only because your 18 month window doesn't start until after you pass your first exam. So better to “take your licks” before the clock starts then to have the added pressure of a time deadline afterwards.

[Anonymous]

I am the exact opposite. I started with FAR and REG and failed so I decided to get my self-esteem up and took and passed AUD and BEC. I now feel I have more motiviation to study on REG because I am HALF WAY DONE! Also, if I time out, I would much rather take AUD than FAR or REG again!

[jtcali]

you can work full time doing the travel agent thing and study for the exam at the same time. get the exam out of the way now and get the experience down the road some time. passing the tests never expires so you can get the experience 2 years from now if you wanted. also, take REG first since this is your strong suit and probably still fresh in your mind from grad school. It's def. a confidence booster passing your first test.

[kmwgrace]

In my state we have 5 years to get licensed after passing the exam, so it's not indefinite.

~ Kate... MTX!
CPA exam on hold while I homeschool my 6 year old!

[mla1169]

IMHO, start with FAR. You'll probably pass, but if you don't the 18 month clock won't be ticking to get the other 3 passed. You don't want to find yourself losing credit if you struggle at the end of that time frame.

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

Massachusetts CPA (non reporting) since 3/12.

[nolifecpa]

in regards to exam order, i would take FAR first only cuz it has the most material and to get through all of it is very very time consuming. the 18 month window goes by fast and when you're faced with a potential expiring credit i'd rather be study for 5 chapters then 9. but as mentioned above, i'd rather restudy for AUD than FAR

in regards to whether you should continue, if you can do both studying and travel agency then do both. i would not be able to multi task like that and would have to choose one or the other, this exam (as well as a business) takes 100% commitment and dedication.

just like your hubby, we will support you whatever decision you make. i guess the bigger question is if the travel agency works out would you still consider a cpa?

REG-65,71,74,73,70,74,79
BEC-60's,60's,69,71,76*,78
FAR-67,66,65,79
AUD-54,60's,65,83*,69,80
*expired

DONE

[kmwgrace]

I had a meeting with one of my professors today. She talked me down off the ledge and told me in no uncertain terms that my next order of business is to buckle down and pass the exam, sooner rather than later. She said if the travel agency thing is successful, then I'll be a travel agent with a CPA license. lol. All I could say is “Yes, Ma'am!”

~ Kate... MTX!
CPA exam on hold while I homeschool my 6 year old!

[Anonymous]

First, be careful about running Travel Agency. Airlines are cutting commissions to zero, and so do hotels and other places. Orbitz, Travelocity, and sites like that are your biggest competitors so this is a rough and tough business to make money in.

Second, take the CPA. Pass it. Win! Always have a plan B. And plan C. And plan D….

[kmwgrace]

We're focusing on cruises where we can make up to 20% in commission. We start at 10% and as our sales for each cruise line go up, our commissions increase for that line, and believe me we've looked – we can get much better fares for our clients than they can get on their own. Thanks for the tip though. And yes, I am going to take the exam. 🙂

~ Kate... MTX!
CPA exam on hold while I homeschool my 6 year old!

[Anonymous]

Good, you got a niche, and make sure you serve that niche nicely.

Good luck in your CPA! 🙂

[Author]

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