Why should someone study so hard for the CPA Exam, when they have to give…?

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This topic contains 92 replies, has 0 voices, and was last updated by  Jeff – another71.com 4 years, 1 month ago.

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  • #172843

    Serious question. Please no trolls.

    Why should someone study so hard for the CPA Exam, when they have to give 1/3 to 1/2 or more of their future income to the gov’t? This includes property taxes (even from rent), sales taxes, and other regulations (car registration, etc.). Not to mention the higher cost of goods due to higher regulations like gas, etc. Lots of people don’t ever work and have everything paid for. They live in just as good conditions as anybody that works hard (AC, internet, car, phone, etc.).

    #361753

    I live off food stamps and unemployment…Thanks Obama!

    #361754

    Mr. Mini
    Member

    @ donatello

    Would you rather have:

    A.) 50% of $500,000

    or

    B.) 100% of $50,000

    That is why you should study hard for the CPA Exam.

    #361755
    #361756

    @jeff..I’m still waiting for Part 2 of “Would you rather pass or fail?”

    #361757

    Mr. Mini
    Member

    Epic.

    #361758

    Every time I saw a thread being closed, I knew it’s a good one…:-)

    #361759

    Mr Auditor
    Member

    @ leshiggitydonatello

    Are you thinking about going to food stamps? If so, it’s a very bad idea. It’s going to catch up on you sooner or later. Most job applications ask you if you’ve been on food stamps for more than 6 months. If so you might be denied the job and they won’t tell you that it’s because of that. If you lie, they have ways to find out. Watch out fellow! CPA will make your life better. It will increase your proud and it will open doors for your future. Unless you are one of the lucky 1or 2% wealthy Americans who do not worry about money for living expenses, I would not advise you to sit home and chill out while you can go out and earn money through hard work. Work makes you feel like you have a purpose in life. Do you know why some rich people sometimes commit suicide and everyone is shocked? It’s simply because most of them never have to lift their fingers to earn a living. They just inherited huge fortune and end up going through a crisis revolving around their purpose in life.

    @ CPATerminator

    Let’s not politicize the discussion. I don’t like the negative ads I’m watching on TV lately from both candidates. I’m hoping I won’t have to deal with that in this forum.

    #361760

    Revenue
    Participant

    CPA terminator

    Very funny, very funny. Ha, Ha, Ha,

    Vicki

    #361761

    mla1169
    Participant

    Mr auditor the REAL reason they ask on a job application if you’ve been on food stamps is because of the work opportunity tax credit for employers who hire socially disadvantaged employees. And yes employers do seek out such tax breaks. A financial incentive makes employers more likely not less to hire someone who’s been on that program.

    #361762

    CashMoney10
    Member
    #361763

    Dale
    Participant

    A tax professor once said he’d rather have the problem of paying too much tax than not having enough income to begin with. Taxes rise and fall. We’ve all benefited from living in a stable country with good infrastructure and education. It can’t all be 100% about ourselves.

    #361764

    CannotPassAgain
    Participant

    so apparently that guy needs a tissue?

    #361765

    @mla1169 and others

    Reason 874 I hate Robert Half/ Accountemps.

    They do EXACTLY as you describe the first time you meet with them. They put you on a software program asking if you have received government benefits / food stamps in the last x months.

    Complete invasion of privacy and agencies need to face regulation. They are getting away with murder.

    I’m not getting unemployment OR food stamps.

    I’d like to answer the initial question. Why make more to pay more?

    My answer is another good life story. I was in front of a magistrate over a child support battle a few years back. Of course my ex was screaming HE HAS A DEGREE HE SHOULD BE MAKING MORE. The magistrate sided with her and said- “I believe you are underemployed, I see it everyday”. That is lovely magistrate, allow me to tell you to look outside you own little world and view our economic times.

    Moral of the story is- I fired back at the magistrate and said that is stupid. I’d much rather make 60k and pay double support than make 30k and pay 1/2 support. OH brother,,,,don’t ask a magistrate to solve that easy one.

    #361766

    @leshiggitydonatello-I was just wondering…are you currently studying for the exam or are you trying to get a few opinions on whether or not this process is right for you? If you are indeed studying for it, what is your reason for studying so hard? That is, assuming you’re studying hard.

    I’m not trolling either. I’m just a bit curious. You’ve posted two interesting but similar questions and I’m just wondering what your train of thought was behind your posts.

    #361767

    “I live off food stamps and unemployment”

    Really? Is it easy to get them? How do you get them?

    “@ donatello

    Would you rather have:

    A.) 50% of $500,000

    or

    B.) 100% of $50,000

    That is why you should study hard for the CPA Exam.”

    Do you mean per year? I’m more than happy with $50K/year and doing nothing. I would have to work years to make that amount after taxes.

    “Is there going to be a part 3 of this trilogy? :)”

    No, sorry Jeff if my threads are too out in left field or something. I was curious to hear what other CPAs/Candidates like myself thought on these issues. If you feel they don’t belong here, I understand if you want to delete them. Thanks.

    Also, I don’t mean for the threads to show up on the main forum page (I’m sure there are more important and relevant threads), but the subtopic threads go to the main page (which I can understand why they do). I can stop posting if you’d like as well.

    @Mr Auditor,

    Thank you very much for that post. I kind of thought that about food stamps (that they come up on a background check), but I wasn’t sure. And I can’t stay home all day doing nothing forever. I guess I just need to keep reminding myself of that (and that I’d rather be doing something productive, than the opposite). And it’s not about the money.

    @mla & Bark

    So at Accountemps & other businesses, they DO reject based on food stamps alone or don’t? I’m getting mixed messages.

    “are you currently studying for the exam or are you trying to get a few opinions on whether or not this process is right for you? If you are indeed studying for it, what is your reason for studying so hard?”

    Yes, I’m studying. I question whether I’m doing the right thing daily. Or whether I will fail miserably in the end. Am I wasting my time? Should I just find a job and forget about the CPA? It’s so frustrating.

    #361768

    mla1169
    Participant

    No they don’t reject based on food stamps-that was an incorrect statement. The employers are asked by various agencies to collect that data and as I said, they get a break on their corporate taxes for hiring veterans, people who have been unemployed for greater than a certain amount of time, and people who were collecting food stamps.

    #361769

    AccNewbieMom
    Member

    OP I feel your pain to “some extent”. I question the logistics of why get into 50+k in debt for a degree just to get over the avg 35k income threshold then I think of all the people who are homeless, work at walmart,and those who rely HEAVILY on government assistance(those who have NO intentions to get a job). It’s funny those lacking education are the main ones who feel this sense of entitlement.

    It sucks ass,the system is really jacked up but if you dont want live paycheck to paycheck,having to decide what bill to pay this month,rent/mortgage or health/auto insurance. I have been in this point in my life and it does NOT feel great. So believe me, I know. I havent had to file bankruptcy thank God but still.

    I try to think of education as more of an “investment” and it’s a risk. Im not sure if people realize that. No a college student is not a corporation but every time you pay tuition, you are taking a risk on an investment(just my perspective). In the end the HEFTY price of an education outweighs the obstacles you’ve listed. You have MORE opportunities and don’t have to settle as “much” compare to someone without an education.

    And I think you have to define your own success…I recently spoke with my therapist and I was stressing out. I told her that, I am afraid that I will never be able to own a home or enjoy life because of student loans. She simply told me that she had friends who are doctors, fellow colleagues, chemists that STILL rent! She said, who says you have to own a house,why does that measure your success. She said people rent for their entire lives! A house is a commitment that brings about EXTRA expenses GALORE, property tax, fire insurance, flood insurance, house insurance, maintenance expenses, typically higher utilities. I am fine with renting a house instead of owning one, that way if I or my fiance need to relocate, it wont be a hassle we can just pack up and say SAYONARA! Lol

    #361770

    Thanks ANM. I wish I had a therapist sometimes or someone to talk to about this stuff. I wish I had more direction. I just don’t know what to do sometimes. Everyone is alone in this world it seems; in their struggles, inner conflicts, etc.. I guess there’s nothing that can be done.

    Sorry Jeff for bumping this off-topic thread again. I’d “sage” it when replying if I could so it wouldn’t bump.

    #361771

    CPAMan
    Participant

    @leshiggitydonatello- When you live in NYC, you’ll know. Making less than $40k is IMPOSSIBLE to live off of. I still have to live with my parents and can’t even afford to buy or rent a studio apartment.

    #361772

    You mean the same taxes that pays for education, military, research that creates jobs, roads, police, social security, etc?

    Let’s see how much we prosper without paying any taxes.

    #361773

    AccNewbieMom
    Member

    @leshiggitydonatello

    we can exchange emails if you want to vent! πŸ™‚ Im bi polar and I will just lash out so Im working on it. But I do honestly know how you feel! I have to CONSTANTLY think about the future to keep me motivated. If I get into my negative trenches, its all over so I try not to. I try to keep in mind that in the “long run” busting your hump with education is way better. You’re not so much at the whims of your employer, the higher the education you receive. With no education, youre kind of stuck and cant demand much.

    @whogonestopme πŸ™‚

    THANK YOU! Yes, IF ALL Americans would understand this BASIC concept! You do not know how ANNOYED I get when I hear candidates on BOTH sides saying, I will give tax breaks! I will cut taxes! Its like TAXES pays for this shit! Hellooooo?! Freaking morons…In the repetitive words of Mitt Romney “It’s wrong. It dishonest, untrue, false….” Yes bitch we know! So stop feeding people lies. Without taxes, the debt ceiling WILL rise and we will be falling of that cliff any day now. Lol TAXES is the KEY to paying down the deficits, the sooner these dorks realize this the better!

    #361774

    Mr. Mini
    Member

    @newbie – Maybe get your facts straight before you start spouting off. Romney wants to lower RATES, not tax revenue. You lower rates, increase growth, broaden the tax base, and increase revenue.

    Also, in another thread you state that you hate the IRS. How do you think the government gets the money to pay for everything? The IRS is simply the governments way of collecting. If you support the government paying for these things, I don’t understand why you hate the IRS when they are just trying to collect the money to pay for it.

    #361775

    The highest marginal federal income tax rate is only 35%. Even adding state and local income taxes and other federal taxes along with my deductions for 401k and health insurance I still take in 60% of my gross paycheck.

    You will still be better off making more money even if you have to pay higher taxes.

    #361776

    @Mr Mini- actually Romney’s tax cuts will massively increase the federal deficit as determined by every independent analysis out there. Cutting taxes has led to increased deficits ever since Reagan did it in the 1980s. Tax rates are not nearly high enough to increase growth and thus revenue by lowering them.

    #361777

    Mr. Mini
    Member

    Our deficit increases because we have a serious spending problem, not because we aren’t bringing in enough revenue. The only way decreased taxes lead to an increase in the deficit is when you spend more than you bring in. Our government is ridiculously wasteful. We need to cut our spending, plain and simple.

    #361778

    The government needs to lower taxes, get out of the way … and let America thrive again.

    I’m Jeff and I approve this message.

    #361779

    Kricket
    Participant

    I’m voting for Jeff or Mini! Either one is fine except that I think they are both too ethical, moral and honest to be politicians!

    #361780

    sacredtheory
    Member

    As porn star Jenna Jameson, with her recent endorsement of Romney, would say: When you’re rich, you want a Republican in office

    #361781

    Tax revenue as a % of GDP is at its lowest in sixty years. Low taxes do not equal more revenue and economic growth. Didn’t the Bush years teach us this?

    The only discretionary parts of the federal budget that have seen large increases in spending over the last decade has been the military and homeland security. If we are going to cut spending, start there.

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