SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Pastimes : Shiny Objects
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
From: Stan8/10/2024 9:02:19 AM
   of 4764
 
The CPA I work for said the AICPA reported two alarming trends in the last five years: a 33% drop in first-time takers of the CPA exam, and that roughly 75% of current CPAs are at retirement age.

My boss is in his mid-fifties and not close to retiring, so he's no spring chicken anymore. He's already feeling the local crunch. In the last few years, we've picked up clients due to accountants retiring or dying.

This trend is going to mostly impact small to medium businesses which are run by regular, financially untrained people who need them for advice, financial oversight and tax agency compliance and representation.

Businesses can easily get in serious and unnecessary financial trouble and headache pretty quickly by getting behind in things like payroll and sales tax filings and payments. If they can't find local firms to help them with these complex matters, it won't be long before they're on the hook for back taxes, with penalties and interest which can mount up enough they'll be looking for a bankruptcy lawyer.

Nothing can panic a business owner like getting an "Intent to Levy" letter from the IRS or the state. I get them and other IRS and NJ agency letters from time to time on my desk from a client.

These folks are grateful to be able to forward them to our office and to have us available for the many related things they don't have the wherewithal to deal with.

There's more in this article - The Accounting Profession Is in Crisis - The CPA Journal
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News