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Investing Blog Roundup: CPA News and Happy New Year

As of this last week, I’m officially a Missouri Licensed CPA. The licensing process took me somewhat longer than normal (just over 3 months since learning I passed my final exam) because we lived in Illinois when I started taking the exam, so I was an Illinois CPA candidate — which meant I had to become an Illinois CPA first, then apply to become a Missouri CPA via reciprocity.

The only change you should notice around here is that, in order to comply with the requirements of Treasury Department Circular 230, my blog posts (and tax-related emails) will now contain a lovely disclosure at the bottom, essentially stating that you can’t use any tax advice contained here on the blog to cheat on your taxes.

In any case, thanks to everybody who cheered me along through the process, and Happy New Year to all of you. 🙂

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  1. Congratulations on the official CPA status and thanks for linking to my blog.

    Happy New Year!


  2. Don’t you love our Gov’t. Here is some things to consider, but I can’t actually tell you to consider them. :O)

    Congratulations. Well done. So are you going to have a practice?

    cd :O)

  3. Thank you, Wade. 🙂

    Chris, I agree — the mandatory disclaimer is awful. Its actual intended meaning isn’t exactly what most people would understand it to mean — which of course makes it confusing rather than useful to the people it’s intended to protect.

    And, no, I don’t anticipate having a practice. This business keeps me plenty busy, pays the bills, and I’m still enjoying it a great deal.

  4. Thanks for the mention, Mike!

  5. Congrats on the CPA again, Mike. Well done. Just think, you’ll never have to take that test again. 🙂 Have a wonderful New Year!

  6. Thanks, Philip. I was recently mentioning to my wife that the primary emotion after finding out you’ve passed the exams isn’t excitement about being a CPA, but rather relief that it’s finally over. 🙂

    Happy New Year to you as well!

  7. Kudos to You Mike – And may 2012 be the best.

  8. Thank you, Vaughn! I hope your new year goes well too.

  9. Awesome news! Congratulations!

  10. Thank you, Dylan. 🙂

  11. Congratulations.. but why did you obtain the designation if not intending to practice professionally? Just curious!

  12. Be’en,

    Good question. Three reasons, all of approximately equal importance:

    1. Right now, this business is going well. But there are certain risks involved. If things take a serious turn for the worse, my hope is that the CPA designation will help in the event that I have to go get a “real job.”
    2. I think it will have a (modest) positive impact on my current business, as it provides some additional credibility with regard to my tax/accounting books (which make up the bulk of the business’s revenue).
    3. Just to prove to myself that I could do it, as it’s something I’ve always pondered doing since my degree was in accounting.
  13. Hey, Mike – congratulations!

  14. Congratulations on your achievement! I actually considered studying accounting myself, but instead I majored in finance. Finance folks just round the number under discussion off to the nearest thousand, million, or billion, but accounting folks want to see every darn penny accounted for! I found accounting was just too precise for me.

    Given the complexity of our modern economy, and ever-growing government, I’d say you have a pretty good chance of your job being bulletproof.

    Best wishes for your new vocation!

    Sam I Am

  15. Thank you both, Paul and Sam. 🙂

  16. This is great news. Congratulations! You do a great job here. Thank you for all the informative posts.

    Happy New Year!

  17. Thank you, TFB. Happy New Year to you as well. 🙂

  18. Thanks Mike for your answer.

    My son is currently studying towards a degree in Commerce with accounting as a major. He may go on to get a professional designation and am glad to see there was nothing discouraging in your reply!

  19. Congrats Mike!

    How do you go about getting the required # of CPE hours since you are self employed? Are there online courses and are they expensive?

  20. Thank you, SobeCane. 🙂

    And, yes, there are numerous self-study CPE courses as well as live online courses available through the AICPA. It looks like the average cost per year to get the minimum number of hours will probably be in the range of $500-$800.

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