7 Wonderful Benefits of Becoming a CPA

Looking Into Becoming a CPA?

Becoming a CPA is not easy. It takes years of hard work and dedication to get there.

But, if you do it, you will become one of the most respected professionals in the world! You’ll be able to help people with their personal finances, earn more money for yourself and your family, enjoy an incredible career path, and even save lives by helping businesses stay out of trouble with the IRS.

But these are just a few of the benefits of freelance CPA career opportunities. Keep reading to discover all of thee wonderful benefits you’ll get when you become a CPA.

What Are a CPAs Responsibilities?

CPA stands for certified public accountant. In order to become a CPA, you first need to earn a bachelor’s degree and meet the necessary coursework requirements. Once you pass all four sections of the CPA exam (and state-specific licensing), you are recognized as a CPA.

So, what do CPAs do? In general, they are responsible for auditing financial statements, providing tax advice to individuals and businesses, reviewing accounting systems, managing financial records, and supervising staff.

With that said, let’s look at the 7 benefits of being a CPA:

1. Great Pay

CPAs are known for making a great salary, usually between $75,000 and $100,000 annually. For instance, in California – the highest grossing state – CPAs earn an average of over $116,010 per year. Most CPAs start their careers with salaries around $60,000 to $65,000. However, this number quickly increases.

2. Flexible Schedule

CPAs typically work 9-5 Monday through Friday with most working full time during tax season (January 1st to April 15th). This leaves plenty of free time outside of business hours. While you can’t be certain that your clients will take off every holiday or up shop every 5 o’clock, you will have plenty of free time to still enjoy the holidays.

3. Work In Any Industry

CPAs are not limited to working in one industry or for one client. Rather, because you are a financial expert, many companies hire CPAs to help them with their accounting needs or tax filings. This means that you can work at all different types of firms and for clients in just about every industry out there. If you want to switch careers, later on, being a CPA makes it incredibly easy to do so because employers typically appreciate your broad knowledge base.

4. Move Up Quickly

Even though life as an accountant may seem repetitive after a while; the good news is that there is always room for advancement. From elevating to your firm’s management team to working as a tax consultant or joining an accounting firm, there are many different opportunities that await you with the CPA designation.

There are many CPA education and career opportunities thanks to sites like Taxfyle.

5. Enjoyment of Work Is High

When people ask what I do for a living and I tell them that I am a tax accountant, they usually respond by saying “Oh my gosh! That must be so stressful!” While working in any industry can be stressful at times, knowing that you have helped the company complete their returns successfully and minimize their taxes relieves most of the stress. Plus, if you like math – which most accountants do- then you will love crunching numbers all day long; discussing strategies with clients, and attending continuing education courses.

6. Job Security

CPAs are in high demand and are usually one of the first positions to be filled during a recession. As long as you keep your license active and keep up with the changing regulations, you can be confident that your job is secure.

7. Variety of Work

In addition to the different industries and companies you can work for, CPAs also have a variety of work tasks. No day is ever the same when you are an accountant. You could be reviewing financial statements one day; preparing tax returns the next, and auditing a company’s books after that. This means that you never get bored with your job and always have something new to look forward to each day.

Do You Need a CPA License?

The simple answer is yes. CPAs are federally licensed and are the only accounting professionals who can sign tax returns. While you may be able to work as an accountant without being a CPA, you will not be able to prepare or sign tax returns.

How do I Get a CPA License?

The process of becoming a CPA is lengthy but relatively straightforward. You will need to complete an undergraduate or graduate degree in accounting from an accredited university, pass the four sections of the CPA exam, work as a public accountant for 1-4 years depending on which state you are in, and complete a minimum of 40 hours of continuing education courses.

What About a Double Major vs Master’s Degree?

While you are not required to have a master’s degree in order to become a CPA, it is highly recommended. A double major will give you a broad knowledge base to work with that will serve you well throughout your career.

Want More Help Becoming a CPA?

Becoming a CPA is not for everyone. It takes years of education and training, but the benefits are worth it! If you’ve been considering your options to become an accountant or another type of financial professional, we hope this blog post has helped you understand some of the reasons why becoming a Certified Public Accountant could be right for you.

Whether it is because they enjoy analyzing numbers or just want to help people achieve their goals financially by advising them on investments, CPAs offer unique skills that can provide many exciting opportunities in both the private and public sectors.

To learn more about what CPA jobs entail, please visit our blog for more articles like this!