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re: Easiest way to get CPA?

Posted on 9/8/17 at 5:41 pm to
Posted by LSUFanHouston
NOLA
Member since Jul 2009
37059 posts
Posted on 9/8/17 at 5:41 pm to
quote:


I have a tax LLM. My practice is about 30% tax work -- not preparing returns, but dealing with the IRS. Having a CPA isn't necessary, it's just something I have wanted to do. It seems like the biggest hurdle would be knocking out the hours (if practicing as a tax attorney doesn't cross over).


Awesome. I thought you were going to tell me you had a certificate from an H&R Block tax course or something

I'm assuming you do resolution work, offers, etc.

Call your state board as it's possible a couple of the classes you took in your LLM program will be able to be counted towards getting your CPA license.

The issue is... you have to have taken certain classes to sit for the exam. Even if you can waive out of a tax class or two, you will still need things like financial accounting, cost, audit, etc. All of these are actually undergrad classes. (I have my CPA license, I just have a bachelor's degree).

These days there are a number of online / distance options for taking those classes. You just need to make sure your state board will accept them.

Once you take your classes, take the exam (I expect nothing less than a 95 on REG from you!!!!). Ethics class/exam is easy. Last part is your work experience. This varies by state, it's possible that your legal experience may count (the 30 percent of the tax work at least). Or you may have to actually work under a CPA. Again, depends on the state.
Posted by lynxcat
Member since Jan 2008
24138 posts
Posted on 9/9/17 at 3:07 am to
No idea why you keep getting down voted for providing accurate, useful information.

The LSU Distance Learning program may make you think that it came up because this is TDings; however, it really is one of the best options available (and cheapest). I used it to get to 150 hours to become eligible to sit for the exam albeit I never completed the CPA as my career path veered away from accounting.
This post was edited on 9/9/17 at 3:08 am
Posted by southernelite
Dallas
Member since Sep 2009
53177 posts
Posted on 9/9/17 at 10:56 am to
The Money Talk has been overrun lately with people downvoting all sorts of valid opinions. Not to mention the penny stock, oh I mean crypto currency thread. MT is a shell of itself. A lot of people here, especially in those in BR area with no exposure to high finance just don't get it.

I have several friends over here in Dallas who know of LSU ODL with no ties to LSU, and every class I've taken has been full of people from all over the country.


Downvote away
Posted by lynxcat
Member since Jan 2008
24138 posts
Posted on 9/9/17 at 2:56 pm to
Completely agree. And, on point, two downvotes as of now on a post that is valid.

I would love for the admins to share whether the downvotes phenomenon is a small groups of posters / lurkers or if it is widespread across posters on the MTB. My inclination is the former.

MIss the quality of the posters from a few years ago.



Posted by Murray
Member since Aug 2008
14418 posts
Posted on 9/9/17 at 3:08 pm to
I downvoted both of you only because you care about it.

Caring about whether you have more up or down arrows under your post has to be one of the most embarrassing things I've ever seen grown men care about.

ETA: I also think there is legit advice in here. Downvotes don't change that.

I completed all of my accounting requisites with LSU IDL/ODL. It's the perfect way to knock those classes out.
This post was edited on 9/9/17 at 3:13 pm
Posted by lynxcat
Member since Jan 2008
24138 posts
Posted on 9/9/17 at 4:21 pm to
It is a feature of the site to indicate good and bad posts, yet it doesn't get used for that purpose thus making the functionality useless. Up and downvotes can be a good means of grading the quality of posts if used appropriately. I prefer us using functionality in a way that is value-added.
Posted by Murray
Member since Aug 2008
14418 posts
Posted on 9/9/17 at 5:10 pm to
Don't take it personally man. You're not the only poster on this site that cares about that crap.
Posted by just1dawg
Virginia
Member since Dec 2011
1483 posts
Posted on 9/9/17 at 6:02 pm to
Athens State (in Alabama) is another good choice besides LSU for online accounting classes. It might be cheaper than LSU.

The CPA exam will cost you at least $1000 to sit for all 4 parts of it, and once you have enough credits to sit for the exam you will want a review course, so that's probably another $1500 if you don't do Becker (the most expensive). Even more important, though, will be the time investment. You need to make sure that this is something that will benefit your career before you spend so much time on it.
This post was edited on 9/9/17 at 6:09 pm
Posted by TheOcean
#honeyfriedchicken
Member since Aug 2004
42465 posts
Posted on 9/9/17 at 6:31 pm to
quote:

certificate from an H&R Block tax course or something


Hell, no

quote:

I'm assuming you do resolution work, offers, etc.


Indeed. If you have any issues pop, send some work my way

quote:

Call your state board as it's possible a couple of the classes you took in your LLM program will be able to be counted towards getting your CPA license.


Best advice yet. If I only have to take 4-5 classes and then some of my practicing hours will count, I think it's a no brainer. I'll call the board this week
Posted by TheOcean
#honeyfriedchicken
Member since Aug 2004
42465 posts
Posted on 9/9/17 at 6:32 pm to
How expensive were the classes?
Posted by Murray
Member since Aug 2008
14418 posts
Posted on 9/9/17 at 6:44 pm to
They're about 600-700 a pop. You get 9 months and can extend to 12.

Another good reason to call the state board is you have 5 years from when you pass the last part of the exam to complete your 150 hours. So you may be able to start taking the exam immediately.

Eta: You also have no time limit to get the work experience.

State Board CPA reqs
This post was edited on 9/9/17 at 6:48 pm
Posted by TheOcean
#honeyfriedchicken
Member since Aug 2004
42465 posts
Posted on 9/9/17 at 11:09 pm to
The classes at LSU are 600-700?
Posted by Murray
Member since Aug 2008
14418 posts
Posted on 9/10/17 at 6:10 am to
LSU Distance Learning

Check out the chart for tuition and fees for the 3 credit classes.

One other tip. Get the textbook used on amazon. I never had to buy a brand new one. Saved a lot that way.

ETA:



And that's up from about $350 for a 3 credit class about 8 years ago. Damn..
This post was edited on 9/10/17 at 7:37 am
Posted by lynxcat
Member since Jan 2008
24138 posts
Posted on 9/10/17 at 12:08 pm to
They were even cheaper a few years ago when I took them. I think mine were $450. Definitely but used books...my book was a really old edition and cost $5/textbook
Posted by BeYou
DFW
Member since Oct 2012
6025 posts
Posted on 9/10/17 at 6:45 pm to
quote:

I am.


Big Four?

I just hit 3 years at a Big Four firm.
Posted by LSUFanHouston
NOLA
Member since Jul 2009
37059 posts
Posted on 9/11/17 at 9:50 am to
quote:

ig Four?

I just hit 3 years at a Big Four firm.


No. I've always worked in large local / regional size firms. Had two Big Four offers for after grad, but decided against it.
Posted by OceanMan
Member since Mar 2010
20009 posts
Posted on 9/11/17 at 11:57 am to
You think you are a career guy in public ? I am thinking about going back. Used to be big 4 but looking at a local firm this time around
Posted by LSUFanHouston
NOLA
Member since Jul 2009
37059 posts
Posted on 9/11/17 at 3:48 pm to
quote:

You think you are a career guy in public ? I am thinking about going back. Used to be big 4 but looking at a local firm this time around


I'm a tax guy. I don't see myself getting into corporate - I would be bored. What I enjoy is the consultancy aspect of my job - helping with tax planning, helping clients understand, etc.

I will probably be up for partner spot in two-three years.

I would say...

50% chance of taking a partner spot
40% chance of going out on my own, and focusing more on consulting, training, and teaching
10% I go into something like running a nonprofit or getting involved in economic development.
Posted by OceanMan
Member since Mar 2010
20009 posts
Posted on 9/11/17 at 4:18 pm to
I agree I enjoy consultancy as well which I think is what is drawing me back. I just wonder if I am forgetting about the bs that drove me out to begin with, but hopefully much of that won't be an issue at a smaller firm.

I'll be interested to see which direction you take.
Posted by Jcorye1
Tom Brady = GoAT
Member since Dec 2007
71365 posts
Posted on 9/19/17 at 12:03 am to
Passed BEC!!! One more exam to go!
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