re: How the F do you explain this - Trump tax returns

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He and whoever showed them should be in jail.

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Presumably Twitter is perma-banning people spreading leaks?

Amazing how this drops the day after Trumps CPAC speech, ain’t it?

Gotta be just coincidence, right?

The left are scum.

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BiteMe2020
I did public accounting for about 4 years, then went into finance myself

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I interned Big Eight audit between my Jr and Sr years. One summer of ticking and tying columns confirmed my desire to go to law school. LoL

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No, it's not. You come out of undergrad understanding debits and credits and how the different financial statements relate to one another--all the things you mentioned that law students were deficient in that supposedly made them struggle at your program. Most undergrad programs also include an intro to federal tax course which teaches you all the basic concepts you need to get started. You can stop there. Everything else you'll learn on the job.It's why all the compliance work for the big outfits gets shipped off to India.

Masters programs are deficient on more important areas--ASC740, international, transfer pricing. Nobody gives a shite if you can work a lengthy 351 problem where you have to account for "boot."

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You're really only considering this from the viewpoint of large, global multi-nationals. But sure, a masters program still has its limits. The tax law is vast, indeed. One cannot cover everything relating to multi-national taxation there.

Not everyone wants to work for one of those, lol.

And no, you can't really "stop there" anymore since many state boards raised the requirement (a long time ago) to 150 college credit hours in order to even take the test, which pretty much means a graduate degree.

Funny story, I had a tax PARTNER at E&Y give me the wrong damned answer on amortizing self-created software acquired in a corporate acquisition.

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Referring more to the assertion that a masters program leaves you more qualified to work in a corporate department.

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As compared to what? A simple undergraduate degree in accounting? If that's all you do, you can't even sit for the exam (unless you double major for some reason) and have 150 hours of college credit.

Most corporate accounting departments, if you want to climb the ladder, will want you to be a CPA somewhere along the career path.

There are also corporations, or were, who did their taxes in-house and had tax departments. I haven't kept up, so maybe that's shifted away, but many at the time did.

And there were topics in grad school accounting not covered in undergrad, too. So to say you aren't more qualified is still kind of BS.


Nobody graduates college qualified to run a massive accounting department, without getting some on the job experience.

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But you are correct that don't necessarily need the public accounting experience at smaller enterprises. Still, you're not doing yourself any favors jumping straight to corporate. All those former public guys that eventually get out of the rat race need a new home and more times than not they'll get the management positions even at smaller companies because of the breadth of experience. Would never advise any one to go straight to corporate.

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Most of my close friends in the Accounting side of my degree went Big-Eight, and most of them had LEFT Big-Eight within 4-5 years (as Seniors or Managers). Most of THEM went in-house with clients and took positions OVER in-house folks who had been with the client company for a decade.

Just seems to be how things work most of the time. Certainly there are exceptions.

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And no, you can't really "stop there" anymore since many state boards raised the requirement (a long time ago) to 150 college credit hours in order to even take the test, which pretty much means a graduate degree.

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Yeah, I'm aware of the hours requirement. I addressed that earlier. That's my point. These masters programs are money grabs that have become necessary because of this hours requirement to sit for the CPA. From a curriculum perspective, you'd really be no worse off getting only a Bachelor's.

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You're really only considering this from the viewpoint of large, global multi-nationals. But sure, a masters program still has its limits. The tax law is vast, indeed. One cannot cover everything relating to multi-national taxation there.

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Certainly, these Master's programs are deficient if you jump to multinationals but I would argue they are even more pointless the smaller the client/employer. Again, once you get the debits and credits down and get the property concepts of tax out of the way (usually covered in undergrad), the rest is fluff. Is it useless information? No. But it's hardly worth the cost of the degree. You're essentially paying to get to the magic number of credits to sit for the CPA.

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Funny story, I had a tax PARTNER at E&Y give me the wrong damned answer on amortizing self-created software acquired in a corporate acquisition.

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You know what would have helped that? Experience, not a Masters program.

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No disagreement there. I just don't think the Masters does much more for you outside of giving you the right number of credits.

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Okay, guess we can disagree. I was much more qualified after graduating with my masters for a career in tax than I would have been graduating with a BS in Accounting alone.

I guess mileages vary.

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Tim O'Brien was the Trump biographer and was sued by Trump. Trump lost that suit and was required to give his tax returns to Tim's lawyers which allowed him to see them legally.

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Yeah, I'm going to need to see a link for that on how some civil suit forces the losing party to hand over tax documents.

So....two posters...quoted above...when asked for links just depart the thread. Not like their posting isnt subject to intense scrutiny as it is for their inability to be honest or truthful rather than spew their bs and run when called out.