Does Bostonguy look/talk/write smart enough to pass his CPA exam?

[jreckoning]

Butler insults him then asks for tax advice.

SMDH.

[Jim Tom]

Yes, I passed all 4 sections of the CPA exam - I just got the official letter from NASBA (National Association of State Boards of Accountancy) yesterday. I can now apply for the license.

You can ask me any accounting question under the sun and I will be able to answer it.

Come at me, bruh!

What's the difference between depreciation and amortisation?

[i_am_a_champ]

Bostonguy could you do my tax returns even doe im in England

[Mooshashi]

Yes, I passed all 4 sections of the CPA exam - I just got the official letter from NASBA (National Association of State Boards of Accountancy) yesterday. I can now apply for the license.

You can ask me any accounting question under the sun and I will be able to answer it.

Come at me, bruh!

LIFO or FIFO?

[i_am_a_champ]

LIFO or FIFO?

I know that.

Last in first out or first in first out


Mooshashi , dude... make some threads on poosey.

I remember that thread you made on that bird with th 18 inch waist.

Ive fantasied about her


Need more

[Mooshashi]

I know that.

Last in first out or first in first out


Mooshashi , dude... make some threads on poosey.

I remember that thread you made on that bird with th 18 inch waist.

Ive fantasied about her


Need more

I'll work on that next week. I'm more used to fulfilling the fantasies of women, but I'll make it a point to help out a Lounge guy.

[i_am_a_champ]

I'll work on that next week. I'm more used to fulfilling the fantasies of women, but I'll make it a point to help out a Lounge guy.

Thats more like it my man.

Help a brother out with viewing some exquisite poosey!

[BostonGuy]

BostonGuy

what's a legit home business that you can use as a deduction.. i know someone using all his expenses/bills at home as deduction.. he is selling some stuff not really making money there because he has a full time job.. but the tax he is paying is really low because according to him all his bills/expenses at home can be used as deduction..

If you are in a trade or business and you use a portion of your home to generate income then you can deduct a portion of the direct and indirect household expenses e.g. utilities, repairs & maintenance, depreciation, etc. If you are employed and work at home for the convenience of your employer then you may qualify for deduction. Without knowing all your facts and circumstance, I cannot determine if you qualify or not. Here is a link to IRS Publication 587 "Business Use of Your Home"

https://www.irs.gov/pub/irs-pdf/p587.pdf

Congrats BostonGuy, I know plenty of professors who worked for the IRS, FBI and Big 4 firms who all say the CPA is no joke.

What are you gonna do now? You could pretty much get hired anywhere. You're going for private for public job?


I woulda maybe gone for it since I have the amount of accounting/business credits and the overall 150 credits needed but my profession turned out to be much different and i'm happy with it, no use in taking the CPA. My current job is sorta the field I wanted and accounting was just something to do in college in case i'm not cut for the government agency I work for. Wanted something "practical" for a degree.

I want to go to work for a venture capital firm as corporate controller. I know how to do all the accounting but right now I don't have "an in." I need to build my network, practice my interpersonal and sales skills to nail the interview.

What's the difference between depreciation and amortisation?

Deprecation is the allocation of expense of a fixed asset like equipment, building, vehicles, etc.

Amortization (or amortisation as Brits spell it) is the allocation of expense of intangible assets such as software costs, patents, customer lists, assembled workforce, etc.

LIFO or FIFO?

Depends what your financial or tax reporting objective is. FIFO is a balance sheet approach that reports inventories at their approximate current costs. LIFO is an income statement approach that more closely matches current costs against current revenues. But FIFO is more popular an inventory method as it is easier to keep track of.

[i_am_a_champ]

Amortization (or amortisation as Brits spell it, cos us fat yanks spell it wrong, yes sireeee!!!!!!!!!!!!!!!!!!!!!!!) is the allocation of expense of intangible assets such as software costs, patents, customer lists, assembled workforce, etc..

Fixed it for ya BostonAccountant

[B.UTLER]

If you are in a trade or business and you use a portion of your home to generate income then you can deduct a portion of the direct and indirect household expenses e.g. utilities, repairs & maintenance, depreciation, etc. If you are employed and work at home for the convenience of your employer then you may qualify for deduction. Without knowing all your facts and circumstance, I cannot determine if you qualify or not. Here is a link to IRS Publication 587 "Business Use of Your Home"

https://www.irs.gov/pub/irs-pdf/p587.pdf


.

so can you, for example, make some necklace in your house to sell to your friends or neighbors and claim all your house bills as deductions?