Contact a CPA

[HV Ken]

While driving home from a meeting, I was listening to a program on the radio - it was a call in your question to an expert type of program. Caller asked a question about a RMD, and the expert who was on talking about investments replied to the caller that she should contact a CPA for advice.

Why is it that everyone thinks the only person who can answer questions about taxes is a CPA?

How about instead: contact a CPA, Enrolled Agent, or other competent and qualified tax professional for advice?

Thanks for listening to my rant....

[fredazcpa]

Beause many times the investment "experts" do not understand that EA's , they are taught only to look to CPA's when there are really good EA's around

[BulldogTom]

That is exactly the reason I will not join the EA society. I am very proud of my designation, but most of my clients have no idea what it is. The EA society needs to get the word out about who we are and what we do. CPA's have had the corner on the "tax expert" market for too long.

My rant is over now.

Tom

Lodi, CA

[TaxCPANY]

Don't waste your breaths, Ken & Tom; EA never will enjoy the prestige/eclat of CPA. While you-all & I know how brilliant & capable you are, CPA is *the* meme/deep-seated cultural signifier that you'd be tilting against windmills to try to depose. Harried journalists never will take the time to fathom the fact that you work as hard & deeply as CPA's are supposed to; and you're tilting against almost 100 years of popular culture -- e.g., can ANYONE cite a song or skit or joke in which "Enrolled Agent" even is mentioned?

[rfassett]

Actually, although not in this case, but I hear and/or read "consult your tax advisor" or "a qualified tax advisor should be consulted" a great deal more than I ever hear and/or read "consult your CPA". If this guy was not in the "hot seat" he might have made a more solid attempt at broadening the paint stroke. I would not put too much into it. From your post following this one HV KEN, it does not seem to have had much impact on your business.

But I do think the real problem is not being addressed here. Why are YOU listening to that stuff? That drive time should be your chill time. You might need some help HV Ken. :)

[Randall]

I'm a CPA. Most of you EAs and others do a whopping more business than me. Sometimes I think people avoid me BECAUSE of the CPA designation, thinking I'll cost them a lot more. My fees are probably lower than yours. I wonder what good it's done me to be a CPA. I pay whopping dues to the AICPA and Ky Society of CPAs and wonder why I keep doing it.

Ok, my rant is over too.

Back to the original post. Why couldn't an investment adviser answer the question about RMDs?

[jainen]

>>Why is it that everyone thinks the only person who can answer questions about taxes is a CPA?<<

The same reason everyone thinks only MDs know about nutrition or only Generals know about weapons of mass destruction for God's sake. You They listen to too much talk radio, where the message is simplified so as not to interfere with the advertising.

[Jack from Ohio]

It is the word "Certified" that people hone in on. It sounds more important than "Enrolled."

[Gail in Virginia]

It is the word "Certified" that people hone in on. It sounds more important than "Enrolled."

I don't know if that is true. Most of the time, the reference is to a "CPA" rather than to a Certified Public Accountant. Not everyone knows what those initials stand for (although more people know that than what EA stands for in my experience) but they seem to all know that a CPA is some kind of licensed accountant or tax person.

I think EA's need a better lobbyist/publicist to get the word out about who we are and what we do. In that respect, I agree with Bulldog Tom.

[OldJack]

Most call me a "Car Parking Attendant", so what's the big deal and why are they to call me about a "Rich Medical Doctor"?

[michaelmars]

I'm a Constant Pain in the Ass

[DANRVAN]

My designation is Cowboy Practicing Accountant.....

[Bart]

Coffee Pot Attendant

[BulldogTom]

Covering Personal Assets

Coming out of college, I had a chance to go to work for a very prestigeous CPA firm in Fresno (no jokes, they do have them in Fresno). But I was making more as a part time bartender than they were going to pay me as a CPA candidate. Needless to say, I went the other way and got the EA designation. Since I hate, hate, hate auditing (did I mention I hated doing it when I was working for a CPA during college?) I just opened a tax office of my own. Someday, I might even make some money at this tax thing.

Tom

Lodi, CA

[Lion EA]

Bulldog, do you have a bar in your tax office? I'm sure you'd get lots of clients. And, I hear the mark-up on alcohol is much better than our profit margin preparing taxes! No drinks until tax prep bill is paid.

[HV Ken]

We are putting a two-sided sign up in our office. On one side it says "Tax Preparation" and on the other side "Counseling". At $100/hour, the counseling side brings in some nice extra revenue! LOL

[HV Ken]

You listen to too much talk radio, where the message is simplified so as not to interfere with the advertising.

jainen - you have no idea how much radio, let alone talk radio, I listen, or don't listen to. And it is totally irrelevant to my original rant! Jumping to conclusions with little information ranks up there with assuming....

[jainen]

>>Jumping to conclusions with little information ranks up there<<

Thank you! I do work hard to achieve that exalted level!.

True, I don't know how much talk radio, but then I didn't actually quantify it. I only said "too much," which is my interpretation of your own statement,"I was listening to a program." But in fairness I'll concede that your rant was properly about other people, so I have edited my post to "they" instead of "you."

[Randall]

Sometimes I think certified means I'm 'genuine certified', meaning I'm 'out there'.

I think CPA has come to one of those things where the initials just mean the initials and the original words carry less meaning. Way back in college, I thought auditing was a real neat thing, then I did some of it and wasn't sure (inside) what the heck it was all about. In recent years, I'm very skeptical it means anything at all. With the scandals of Enron, Arthur Andersen going down, the banks and their nonsense, I just scoff at an audit report.

The AICPA almost destroyed the CPA designation a few years ago by trying to move to a new designation, called Cognitor. Ha. The membership voted it down. Wow, over a hundred years of the CPA designation down the drain for a joke like moniker.

I'm old and jaded now.

[Mike D]

Are you guys seriously comparing the level of education, mandatory training, and testing criteria that a CPA must endure to an EA?

You can call me Cleaning Pressing & Alterations or Can't Prove Anything, but don't call me an EA! When push comes to shove you guys in general are out of your league.

Mike Dubin CPA

[Jack from Ohio]

Are you guys seriously comparing the level of education, mandatory training, and testing criteria that a CPA must endure to an EA?

You can call me Cleaning Pressing & Alterations or Can't Prove Anything, but don't call me an EA! When push comes to shove you guys in general are out of your league.

Mike Dubin CPA

I would politely disagree!! The number of returns that I have corrected in the last 8 years that were prepared by CPAs flies in the face of your assumption. I would dare to say, in the field of tax preparation, I can hold my own against ANY CPA. In the areas where I do not practice that a CPA does, I don't even begin to claim any more than a basic understanding.

I DARE you to go take the current E.A. exam with no preparation. According to you, we are so way out of our league that you should pass it with flying colors. I am willing to bet a steak dinner at a restaurant of the winner's choice that you will not pass all 3 sections on the first try.

<<<"When push comes to shove you guys in general are out of your league.>>> I say, put your money where your mouth is and go take the E.A. exam. If you are as all knowing and knowledgable as you propose, I will be paying!!

DARE YOU!!!

[OldJack]

If ALL of you think you know everything, why are you asking questions on a tax forum? A test score is only one factor in knowledge and does not show the persons experience or skill. After my CPA test many years ago, I learn something new everyday and I have been learning for more than 40 years. I still don't know all I would like to know, but that is what tax publications are for. You guys get over it!

[jklcpa]

Thank you, Mike. Let's not forget the mandatory work experience prior to certification, or the peer review requirements if the CPA is a member of their state society or AICPA.

[Mike D]

Jack from Ohio

I find it fascinating that you feel compelled to disagree with my position.

The more interesting fact is if you are so smart and accomplished why don't you sit for the CPA exams? I am willing to bet my house that you wouldn't pass!

When I prepared for the CPA exams 35 years ago I was prepared and most likely would have aced the EA exam had it been available at that time.

For the record I have never thought of sitting for the EA exam as I have already arrived!

Mike Dubin CPA

[Jack from Ohio]

Jack from Ohio

I find it fascinating that you feel compelled to disagree with my position.

The more interesting fact is if you are so smart and accomplished why don't you sit for the CPA exams? I am willing to bet my house that you wouldn't pass!

When I prepared for the CPA exams 35 years ago I was prepared and most likely would have aced the EA exam had it been available at that time.

For the record I have never thought of sitting for the EA exam as I have already arrived!

Mike Dubin CPA

I have interest only in being a tax preparer. You ignore my challenge... <<<"...as I have already arrived!">>> In other words, put your money where your mouth is. I would doubt you could pass the CPA exam today. Lots have changed in 35 years. I am simply calling you out on your statement of superiority. I do NOT take such a position.

I did NOT say something insulting to a broad base of experienced and knowledgable professionals, i.e. Enrolled Agents. <<<"...you guys in general are out of your league.">>>

I have no need to become a CPA. Enrolled Agent status is sufficient for my professional needs. Your CPA designation does not give you ANY MORE privileges before the IRS than E.A. does.

Your level of pomposity is nauseating!