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Why accounting is a good career for me?

This article is aimed at helping you to find out what are the perspectives of working in the field of accounting and is accounting a good career choice. The graduates may experience difficulties when choosing a path in the field of accounting for their future career. So, here are some explanations of what is accounting to give you a solid understanding of this profession and dispel all your doubts.  

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What is Certified Public Accountant (CPA)?

If you would ask what does CPA stands for, the answer would be that this designation has a few meanings. It is interesting that abbreviation “CPA” in full sounds in the different ways according to the field where it is used, for example, “cost per action” in marketing, “copolymer alloy” in chemistry but in the field of accounting and finance it is deciphered as certified public accountant. In the everyday usage, you may also hear such synonyms to the certified public accountant as an actuary, analyst, auditor, bookkeeper, clerk and other. So, let’s take a bit closer look at what is the meaning of this abbreviation and why the future accountants should pay more attention to this term.

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When did I start thinking about budget planning? In June, I didn’t have enough cash to buy my favorite Latte Macchiato after a brutal day at the office. I realized I had uncontrolled spending that month. I had downloaded two more budget planners, but next month I ran out of money again. I had started looking for financial assistance on the Internet. I noticed a brand new service with positive customer feedbacks– CFP.

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There has been a major cyber attack, this time on a very large scale. This time, the massive cyber attack was traced to tax software. It is said to have impacted people in 64 countries, with its origins in a Ukrainian company's tax accounting software. Reports say impacted systems are offered the chance to get files released for a simple payment of $300 in bitcoin. You might think the haul for the hackers would be huge, but evidently, it was not. Still, there were clearly some people who paid, whatever the government and tech advisers were suggesting. It is understandable since the cost of being frozen out can just be too big. So if you pay hackers ransom to keep your business operating, is it tax deductible? Whether personal or

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Bonanzas and booby traps: Plenty of both await you in the complex world of 529s.

Needlessly complex, since the concept is simple. You set aside savings for college costs, and the earnings (per section 529 of the tax code) escape tax. But the execution is messy because 48 states plus the District of Columbia compete nationally for the business of overseeing the accounts. They have created a crazy quilt of investment choices and tax rules.

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The increasing cost of a college education has significantly outpaced national inflation by an average of 3.4% every year since 2005, creating a national student loan crisis and putting tremendous financial pressure on parents. According to data released by CollegeBoard.org, the current cost of one year at a private nonprofit four-year college, including tuition, fees, and room and board, is $43,921, or roughly $175,000 for four years. By comparison, a public four-year in-state college requires far less out-of-pocket funds, costing around $19,548 a year or close to $80,000 for four years.  While college costs cannot continue to outpace inflation forever, many people expect the cost of college tuition to spiral upward for a number of years. In order to fund these tremendous expenses, many students and parents are turning to

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The U.S. Bureau of Labor Statistics reported today that the consumer price index (CPI) has increased by .2% for the month of August. The CPI measures the cost of goods and services – basically, your cost of living. When the CPI doesn’t change much, it tends to signal that interest rates will stay put. This is important for taxpayers because the Tax Code provides for mandatory annual adjustments to certain tax items based on inflation.

Of the tax items subject to mandatory annual adjustments, federal income tax brackets tend to get the most attention since they have been subject to adjustment for nearly 30 years. However, inflation adjustments are now routinely included in new tax legislation – including penalties – which can be confusing for taxpayers. Luckily, there are tax

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Retirement planning is hard enough, but disinformation will get you sidetracked from your goal. You'll need to know what's not true before you start planning. There is a lot of fake news in the retirement saving world. The truth is, President Trump, Wall Street and GOP allies are making retirement planning more difficult. They are torching investor protection rules found in the Dodd-Frank Act and cutting state offerings for small business retirement plans. And that's just what's been happening in the first few months of this year. The larger truth is that the U.S. retirement system is still strictly voluntary. You still have to make decisions on your own and sort through some bad information.

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Actually, it is not as complicated as it might seem but we can tell if the wedding couple would survive in 3 years (or - oops - get divorced). Here are a couple of helpful tips:

If the bride insisted that she and her fiancé have a joint bachelor/bachelorette party, they ain't making it. If the best man spent the 30 minutes prior to the start of the ceremony repeating to the groom, "Just leave, and I'll cover for you," that's probably not a great sign. If the bride, despite having no discernible singing ability, insists on sitting her new husband in a chair and belting out her favorite song, she's probably far more interested in getting married than being married, and when the glow of the wedding wears off....look...

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Americans nearing and in retirement don’t know enough about retirement income planning according to a new survey by The American College of Financial services, as roughly 75% of survey respondents failed the 38-question retirement planning quiz. You can take the quiz here: http://retirement.theamericancollege.edu/retirement-101/2017-retirement-income-literacy-quiz  The research surveyed a total of 1,244 Americans between February 16, 2017 and March 1, 2017. The literacy rate survey had a sampling error at the 95% confidence level of +/- 2.8%. According to David Littell, the Retirement Income Program Co-Director at The American College, “the results are alarming and a stark reminder of the need to be prepared for the decades in retirement when you are not earning a steady stream of income.” The survey, which asked Americans between the ages of 60 and 75 with

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Chances are, that the majority of your wealth is in IRAs - even if you have a 401(k), 403(b) or TSP…eventually every retirement account you own will one-day rollover to an IRA. So, it makes good sense to know and understand the ins and outs of these seemingly simple, yet mind-numbingly complex tax-deferred retirement accounts.

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Many people do not view life insurance as an essential and vital part of a retirement income plan. Those people see life insurance primarily as a way to protect families from the early loss of a breadwinner during the working years. However, life insurance has the potential to be so much more if properly utilized in a comprehensive retirement income plan. According to Jen Sias-Lyke, State Farm® Insurance Agent, “Life insurance plays an important role in any financial plan. It helps loved ones recover from financial risks and unexpected costs, increasing their chances of reaching long-term goals and achieving dreams. Thinking about financial protection and retirement can seem overwhelming, but as your life changes so does your financial situation.” Unfortunately, many people do not fully understand nor appreciate the value

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