United States - November 2006

I'm ready to jump from engineering (boring) into a full time career in tax preparation. I just love taxes to the core of my very being (don't bother telling me how weird I am, I know already).

There are many options and I want to hear from career tax people which they feel is the best and why? I want pros and cons. I'm also interested in potential annual salaries.

1) Full time job with a large firm like H&R Block, but not as a manager or any other job where you don't do many actual returns.

2) Tax firm franchise owner...should I purchase an existing office or start a new one.

3) Hang out a shingle and start my own office or partner with someone else who has done this, learn from them, then buy them out.

I have enough cash to weather a few years of low income, but I am not interested in an extended dry spell. Also, do I need a CPA degree or just an EA?

What do you do in the summer months to stay busy?

Thank you all for your time.

2006-11-04 04:30:31 · 8 answers · asked by TaxMan 5

2006-11-04 04:20:00 · 2 answers · asked by Jss 7

2006-11-04 03:38:59 · 5 answers · asked by TIKIBABY 1

2006-11-04 02:05:48 · 6 answers · asked by mexchger 1

Hi. The situation is as follows: A Florida LLC with two "owners" a US citizen and a non US citizen. The US citizen is living in the US, the non US citizen is living abroad. The LLC conducts business that is both connected to the US and not connected to the US.

What is the tax treatment of the non-US citizen regarding LLC's distributions? Can he be a salaried employee?

Any help will be greatly appreciated!!

2006-11-04 01:35:48 · 2 answers · asked by answersman_123 1

Hi my husband just won 10 grand, we live in massachuseets, now i'm sure your all thinking lucky, but here it goes he is going to take the money to pay off a debt he owes for his business to an elderly aunt who lent 30k when his business was floundering. Well I am the only one bring an income into the house. He doesn't understand why iam not thrilled about his goood fortune. Will this effect my income and in turn effect my tax return? I think he should give the ticket to his aunt let her worry about taxes. If he is going to give her the money any way. He isn't offering any of it to me so why should i be happy about it looks to me like i am going to lose from it.

2006-11-04 00:48:58 · 9 answers · asked by jedjgri 2

i have a property and the irs placed a lien on it against my husband SS#. He is not an owner of the house because it is only under my name and my sister-in-law's name. He is not even in the title. How can get the lien off.

2006-11-03 20:26:51 · 7 answers · asked by chevac80ad 1

My taxes for state this year..I owe 230.00$$,but it's went up to 250.00$$ because I missed time to pay it..When It's time to go rapid at H & R Block,what will happen? Will they give me my money,hold my check? What will happen..Thanks..

2006-11-03 19:00:41 · 7 answers · asked by blueboyswoman 4

I fly back to Hawaii every other week x 7 days. My place of residence is in Hawaii.

2006-11-03 18:40:29 · 6 answers · asked by dole477 2

now my father wants to give gift-tax free gift of US12k each person to me and my husband, how should he go for it? can he simply issue a cheque of US24k to me or it has to be 2 separate cheque to each of us? there is no documentation or filling needed right?

2006-11-03 18:01:43 · 5 answers · asked by bibi 1

2006-11-03 17:19:42 · 4 answers · asked by Anonymous

2006-11-03 16:57:30 · 4 answers · asked by Vincent C 2

The case was approved August 2006. We continued paying our Mortgage and car payment but all else is part of the payment plan through the courts. Will that be considered income? Thats our concern for taxes due.

2006-11-03 15:57:54 · 3 answers · asked by Leilani_20 1

2006-11-03 14:34:12 · 1 answers · asked by Big Guy 1

2006-11-03 14:31:58 · 5 answers · asked by Tamara w 1

Federal tax revenues are higher than they were, higher than at any point in history, higher than the CBO projected they would be with the tax cuts, and higher than the CBO projected they would be without the tax cuts. And the Fed has been restrictive, which means it's not the temporary effect of monetary policy - in fact monetary policy is working AGAINST growth of GDP and the tax base.

Yes we have a deficit and that's a problem but it results from INCREASED SPENDING, for which BOTH parties are to blame.

And given the increase in revenue, it's possible that a tax RATE hike would CUT revenue.

How can ANYONE be against making the tax cuts permanent now that they've proven to pay for themselves?

2006-11-03 11:35:34 · 5 answers · asked by Anonymous

2006-11-03 11:19:13 · 9 answers · asked by ethann48 1

just asking

2006-11-03 11:14:35 · 7 answers · asked by marilynhenriksen@sbcglobal.net 2

take an example: the company is an LLC(in NY), and constructs condominiums which will be sold after it's done. If the company uses cash method for accounting, how to report the tax if it has a gain? or loss? in which form? any publications referral? thanks!

2006-11-03 10:48:54 · 4 answers · asked by bubupigjun 1

Myself & my fiance' are starting a cleaning service. We intend to hire employees. In preparing for this, we decided a Limited Liability Partnership would be the best option.

Would this LLC/LLP fall under the entity type "partnership", or "corporation"?

Any feedback regarding this entity type selection would also be very welcome.

2006-11-03 10:40:03 · 6 answers · asked by jimi p 3

Lost 20K on the sale of the boat, spent 10K fixing it up. Since the IRS tends to consider boats a house, can I take a 30K capital loss.
If I have no Capital Gains to net it against, can I amortize the loss forward like stock market losses? and then use it against a capital gain some year in the future?

2006-11-03 09:50:36 · 7 answers · asked by ebiz1@sbcglobal.net 2

How much cash can I give my grandson without tax for him or me?

2006-11-03 09:13:19 · 5 answers · asked by Anonymous

2006-11-03 09:08:30 · 2 answers · asked by Anonymous

2006-11-03 08:49:59 · 3 answers · asked by dale621 5

I started a small business with $200K as a partnership, changed to a C corporation with a different person, and received $110K as a buyout when I got out of that corporation. So in long term, I lost about $90,000 and I want to find a way to file this loss if it is deductible. Tax year is 2005 and I could not file this in time since I did not have enough information about how to file as of now.
Clarification: I was the original owner who owned 50 percent or more of that corporation, and when I gave the corporation control to the other partner, no change in the business site has been made.

2006-11-03 08:46:32 · 3 answers · asked by wonhachoi78 1

2006-11-03 08:40:09 · 10 answers · asked by Anonymous

2006-11-03 08:08:36 · 9 answers · asked by Anonymous

Tax time is approaching.

2006-11-03 08:06:54 · 18 answers · asked by Anonymous

2006-11-03 08:06:45 · 5 answers · asked by Susan M 1

I filed State and Federal and couldnt aford to pay them I kept meaning to but something always came up I have a family and the only reason I had to pay so much in isnt because I make a lot of money because I really dont make much at all I just did ALOT of over time I mean ALOT everyday and was doing that just to keep our heads above water. What is going to happen when I file this year? What will they do for about $800.00 of unpaid taxes over the course of a year?

2006-11-03 07:23:38 · 7 answers · asked by Anonymous