[Spartans92]

Hey guys,
so its busy season which means we work crazy hours, however, I have very little work. Im in my first year and not sure if that is the reason. I do have more hours of actual work than non billable work (miscellaneous work) than I did before but I am still not getting as much as others that I started with. I have been leaving the office around 5:30-6 these last few days and things are supposed to pick up this week (but I’m just not busy)… Not sure if that also factors in. I have been asking around today and did get some small tax returns and finished those within 3-4 hours and also told my partner that I finished some work and was looking for some.

Im really scared that because I’m not busy enough I may even be let go because I may not be seen as “hard working” as others. Funny how I remember someone mentioned about not having work and I assured them in the post that they will find work eventually come tax season. Now, I’m here waiting for people to give me work too. I see other colleagues leaving at a much later time and that worries me. Anyone with experience can give me some tips? Thanks

the only positive thing I see from this is that I have more time to study after work.. But usually I’m burned out. For the record I try to work 10 hours per day. I worked 55 hours last week.

BEC- PASS

[ForgottenOne]

Its a funny thing when come to taxes. There are cheaper alternatives to get taxes done; tax softwares and free file programs for certain individuals. Also, anybody with a PTIN is allowed to do taxes and most of them are self-employed charging $50-$80 for individual returns. How could CPAs and EAs compete against that? On top of that, there are taxpayers that have already plugged the number into a tax software, then they come in for an estimate just to match the numbers. Between these guys and the 1099s contractors, I am not sure who are the worst. These 1099s contractors dont pay a dime into estimated tax, come in with 40k+ nonemployee compensation without any receipt and expect us to perform a miracle so they only pay 1k-2k in taxes. Since legit accountants have so many rules and regulations to abide by, these 1099s contractors find their miracle somewhere else. I believe these are the reason why we are not that busy anymore.

[Spartans92]

@fotgottenone, please excuse my ignorance what do you mean 1099 contractors? But you are right a lot of individuals could do their taxes for much cheaper than hiring a CPA firm nowadays.

BEC- PASS

[ForgottenOne]

@Spartans92 1099s contractors are self employed individuals. Plumbers, Electricians, Painters, they dont get W2s, they get 1099 Misc instead with box 7 filled in. Basically, they are responsible self employment tax besides income tax, which are full FICA and FUTA taxes, about 15.2%. Basically, self employed = business owners.

[SuckItUp]

GO FIND WORK. ASK FOR IT. DON'T WAIT FOR IT TO COME TO YOU.

[Anonymous]

The difference in a big firm in comparison to a small firm is hilarious to me…sorry. In our little two office 1200 client tax based firm I am still assisting the office staff with 4th quarter reporting, (w-2's,1099's, and transmittals). We have a few tax returns in house, but our busy tax time won't start for at least another week. In a CPA firm, or at least ours, we have very few uncomplicated filers who are ready to go before the end of January. I personally like it that way because the types of returns that come in early are wrought with potential preparer penalties (has anyone looked at the eic forms this year???) for not very much gain. The rest of my time right now is spent getting our in house accounting 1120s, 1120Ss, and 1065s, as ready to file as possible and alerting clients to missing balance sheet information. I would not be worried about lack of tax clients at this juncture, but I would certainly look for work because I promise you there is lots to be had. Worst case scenario there is bookkeeping work to be done, again not sure how a big firm does things but I've never been above pitching in wherever I'm needed.

[Anonymous]

Every firm is different. I recommend making good terms with the people who interviewed you for the position. Ask them if there is anything that you can help with and pay attention to areas you can pitch in to show effort, for example, IT troubleshooting, or making the general work all around easier/more efficient in the office.

It also depends if this is a larger or smaller firm. If it's a bigger firm, you definitely don't want to become dead weight.

[Anonymous]

@ForgottenOne Self Employment taxes for self employed individuals who utilize a schedule C to file their earnings are subject to social security and medicare taxes-both employee and employer portions-NOT FUTA. And not really basically business owners-they are non-incorporated business owners-specifically they file their income on a schedule C on their personal 1040 after receiving a 1099. Most of our self employed business owners have smartened up and incorporated into S-Corporations, in effect becoming employees of their own corporations while also limiting their liability with LLCs.

[CPA2BEE]

Keep in mind its still only January. Things usually start to heat up for me right now, but I'm usually not crazy busy until mid February or so. Like others have mentioned, every firm is different. But give it time and I'm sure you'll be slammed before you know it 🙂

FAR - 80
AUD - 82
BEC - 80
REG - 85

ETHICS - 90
EXPERIENCE - COMPLETE
Application for California license mailed 8/4/2016

[Anonymous]

I work at a small firm and have never gotten busy until mid February for taxes. 1099, payroll reports, and w-2 preps can be time consuming during January assuming your firm does that type of work; we do a few. Things will probably pick up by Valentine's Day. Our clients are mainly high net worth so we have very few returns in January. Some of the small businesses finish their books early January but not many. Things should be interesting given the earlier filing deadlines. I am thinking mid February to mid March is going to be insane for us.

[Spartans92]

Thank you guys for the feedback. I did have a chat with my team partner and he was very nice about it and told me not to worry and that I will be much busier later on the next few weeks. Its good to know others are somewhat similar. Guess this does worries me a little since I am planning to retake AUD in march…. man I have close to 0 motivation after work but guess now I should go full force studying while I dont have to stay too late for work. 🙂

BEC- PASS

[hasy]

Use this precious time to study DURING work, if your superiors are okay with it. I milked all the studying time I could get while I was in public. Major reason why I passed BEC on the first try.

Character cannot be developed in ease and quiet. Only through experience of trial and suffering can the soul be strengthened, ambition inspired, and success achieved - Helen Keller

-

BEC 80 (10/23/15)
FAR 72 (4/2/15); 83 (7/11/16)
REG 52 (4/28/15)
AUD (9/9/16)

Roger + NINJA MCQ + WTB

[SeattleCPA]

I run a big single owner CPA firm and we do a TON of corporate tax work.

What you should know is that tax season hasn't really even started yet. You shouldn't worry.

In a few days, you'll be laughing you were worried about not having more work.

[Tncincy]

I agree with Seattle, I run my own business and tax season may have technically started, but the doors are moving slow as people are real disappointed with the holding the refunds until 2/15 for refundable credits…..but I have been really hitting the study course hard. The since activity has been limited, I have been resisting procrastination by sitting my notes on my desk open so when I get that cup of coffee I won't wander around the office doing meaningless stuff. As clients come in, I take care of them and get right back to reading or writing notes. Apply yourself where ever you can for this exam. Now is the time, before the rush.

It begins with a 75
Been here too long as a cheerleader....ready to pass

[Author]

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