Temporary Help For CPA Firms and Tax Preparation Services Firms

I have had a change of direction since I last posted.  I want to do CPA work, taxes, accounting and consulting.  However, my main source of clients will be CPA firms and tax preparation firms.  My goal is to help these firms during times when they are especially busy and need temporary support.  My major focus now is tax preparation; however, I can also help out on audits, reviews, compilations, and consulting work.

I am looking to work full time during the busy season, and as much as needed in the off season.

Below is the cover letter and resume that I am presenting to potential employers.

Gary Waltrip, CPA
Hollister, CA 95023

(408) 427-2849 Cell

E-mail: gwcpa1@gmail.com

Cover Letter

December 14, 2014

Ladies and Gentlemen,

I am a semi-retired CPA with an active license (CA 24228) in good standing.  I am seeking work as a tax preparer for CPA firms or other tax service providers.  My rates are very reasonable and I am flexible on compensation.

I have over twenty years of experience in all phases of CPA firm work, including audits, reviews, compilations and corporate consulting work.  I am familiar with QuickBooks, paperless working paper systems (Prosystems fx) and peer reviews.  Most of my tax work has been through the Lacerte software package.  I also have extensive experience in responding to IRS and FTB inquiries.

For the past four years I have concentrated on income tax preparation, mostly for individuals, but also for corporations, partnerships, LLCs, homeowners associations, and some trusts.  I truly enjoy tax preparation and working directly with clients, and that is my preferred focus at this stage of my career.  Polls of clients at my last assignment showed me to be the highest rated tax preparer in terms of client satisfaction.  I treat all clients with courtesy and respect, from the simplest return to the most complex.  I am enthusiastic about tax work, and I believe I will make a favorable impression on your clients and help ensure repeat business for your firm.

I am primarily looking for tax season work, but am available in the off season on an as-needed basis.   Payment can be on a 1099 basis, which saves the employer on payroll taxes and benefits.  Payment on a W-2 is acceptable if the employer prefers.

Rest assured, I am not interested in starting my own practice, and I will not solicit or accept separate work from your clients.  I understand the necessity of client confidentiality and I am an ethical practitioner.  I would hope to create an ongoing relationship with your firm that is based on trust and value provided.

Although not required for a CPA, I am voluntarily engaged in the CTEC program, and passed the CTEC 2014 tax update test with a score of 97%.  I am bonded and have an active PTIN number, so I can “hit the ground running” at the start of the season.  I am available for interviews at your convenience.  Feel free to contact me by phone or email.  My resume follows this page.

GARY WALTRIP, CPA

RESUME

Gary Waltrip, CPA

Hollister, CA 95023

(408) 427-2849 Cell

E-mail: gwcpa1@gmail.com

Professional Objective:  Experienced professional seeks work in tax preparation of individual, corporate and partnership tax returns for the coming busy season, on a temporary or per diem (1099) basis (W-2 is acceptable, per employer’s option).  I also have substantial experience in audits, reviews and compilations as well, and can assist in these areas as well. I have over 20 years of experience in preparation of individual, corporate and partnership tax returns.  I am flexible and affordable.

Current, Relevant Experience: 

2011 – 2014: 

Master Tax Advisor, H&R Block, 351 Tres Pinos Rd #2, Hollister, CA 95023

(831) 637-0255; reported to Manager Pamela Alvarado.  Interviewed tax clients, prepared tax returns, mentored new preparers, answered IRS and Franchise Tax Board inquiries.

I worked for H&R Block for the tax years 2010, 2011, 2012 and 2013, preparing mostly individual tax returns, from the simple to the complex.  For the 2013 tax returns season, I completed over 150 individual tax returns, one corporate return and one trust return.

I enjoy working directly with clients and relate well to them.  Last tax season’s client surveys showed me to be the most popular preparer in the office, with the highest customer satisfaction.

Reason for leaving:  The experience was excellent, but I seek better compensation.

January – August, 2012:

Auditor and Corporate Tax Preparer, Douglas A Taylor, CPA, 214 Broadway, Millbrae, CA 94030, 650-697-7907.  Working directly for Douglas Taylor, I performed audits and reviews of homeowners associations, a housing cooperative, and a large taxi cab company.  I also performed reviews and compilations of construction contractors.  I prepared corporate, partnership, LLC and 1120-H tax returns for these clients using Lacerte software.

Reason for leaving:  Due to the distance from home and necessity of hotel stays, I opted not to return for the following season.

Education:  B.S. Degree, Accounting, San Jose State University

License:  California CPA License 24228, Active and in Good Standing; CTEC certified, Bonded and I have an active PTIN.

Software Skills:  Excel and Word, advanced; QuickBooks; Lacerte Tax Preparation Software; Tax Act Tax Preparation Software.

References:  Professional references (and a longer resume) will be supplied upon request.

Dealing With the Difficult Client or Potential Client

I worked for a major retail tax company for the past four years and enjoyed it immensely.  Never before in my career have I been more sharp in taxes.  I completed 151 individual tax returns, one corporation, one partnership, and one trust.  I have two more corporations lined up and will do them soon.  Further, client feedback in surveys showed that I was the most highly rated tax professional in the office.  That was nice.

At the end of this tax season, I made the decision to leave the retail tax company where I have worked, for several reasons.  Their prices are way too high to be realistic, in many cases. Employees are suffered to work off the clock, though this is never explicitly stated.  However, you get in trouble if, when the tax season ends, you are still in the middle of a difficult tax return.  You cannot work extra hours to complete it beyond the sparse off-season office schedule.

This happened to me last week, when I was working on a difficult tax return for a very obnoxious client, someone who was rude, pushy, hostile and unreasonable.  This taught me a lesson:  feel free to reject a potential client at the outset.  Do one or more of these things:

1.  Inquire as to the status of the client's records -- will you have to do more than tax preparation, e.g. do a bookkeeping project to derive the numbers needed?

2.  Is the potential client quarrelsome, pushy, rude and putting pressure on you?  Skip them and refer them elsewhere.  Trust your gut on this.

3.  If late in the season, inform the client at the outset that they must be put on extension, or they can go elsewhere.  Their lateness in coming in is not your problem.

4.  Quote them a high price for the tax preparation, and ask for a retainer.  You can always come down if the assignment is less difficult than you feared, or the client is less troublesome than you thought.

TIP:  Create a questionnaire or checklist to remind you to inquire about such things before you formally accept the client.  The questionnaire can be limited to business or complex individual tax returns.

Working for a Tax Agency & Studying Spanish

I am currently doing taxes for a large, retail tax agency.  The pay isn't great, but I am getting great experience in preparing individual tax returns.

Hopefully, at this time next year, Barack Obama will have been given his walking papers and the US economy will be on its way to recovery.  Then I may seek higher paying assignments.

I just finished my first semester of Spanish at Gavilan College.  I enjoyed it and learned a lot of Spanish (got an A).  I hope to eventually become fluent in the language, and I'm planning to take Spanish 1B in the spring semester.

UPDATE:  I took Spanish 1B and got an A grade, as before.

Working on the Ol' Resume

I'm working on my resume today.  With the recession, the consulting business is on life support.  For that reason I am returning to public accounting.

Below is a summary of my public accounting skills.  I've done even more than that, including expert witness testimony and fraud investigations, but that was long ago.

Public Practice:

-      Four Years With KPMG -      Formerly an Audit Partner & Audit Manager for local CPA firms (20 Years) -      Experienced in Peer Review and Quality Control for CPA Practice -      Knowledgeable of GAAP & GAAS & Practicable Implementations Thereof -      Thoroughly Experienced in All Phases of Audits, Reviews and Compilations -      Experienced in Preparation of Financial Statements and Footnotes -      Excellent Working Paper Technique & organization, (Paper or Paperless) -      Experienced in Writing Audit Programs -      Experienced in Tax Preparation for Individuals, Corporations, Partnerships and Non-Profit Organizations

-      Research and Resolution of Tax Inquiries from IRS, FTB -      QuickBooks Pro Advisor 2010 -      Familiar with IFRS and IAS -      Experienced in SOX Documentation and Testing -      Thoroughly Knowledgeable of Internal Control and Best Practices -      Excellent Analytical Skills -      Advanced Excel Skills -      Experienced in Lacerte, Tax Act and Prosystems fx Engagement (Paperless Trial Balance & Audit Software) -      Experienced in Microsoft Office, Excellent Computer Skills -      Excellent Mentor to Staff (Certified Three CPAs)

Job Opportunities on the Upswing in California?

As a consultant I am always looking for my next project. Lately I notice that the number of jobs for accountants is on the upswing. There are more job postings now on Craig's List and on Monster and Career Builder. I have been applying for them and hopefully will pick up a new gig soon.

If not, I have already picked out the bridge and the cardboard box where I will be living soon. My box will be the third on the right, the one that reads "Fresh Vegetables."  I have been called "fresh" before but I am not a vegetable -- not yet, anyway.

I am having some trouble finding the right furniture to match my new decor, however. I'll try the flea market as Good Will is just darned expensive these days. I found a great divan the other day but some homeless guy beat me to it.

1969 Prediction of the Internet was Surprisingly Accurate

This video from YouTube is titled "The Internet in 1969."  I don't know if it is really from 1969, but it is obviously old.  It's depiction of the internet is surprisingly accurate.  Have a look.

Auditing Homeowners Associations, Pros and Cons

Before I went into corporate accounting, I was a recognized authority on homeowners associations, or "CIRAs," otherwise known as Common Interest Realty Associations.  I audited HOAs for twenty years and became very knowledgeable of the accounting and tax rules for these entities, their peculiarities and hot issues.

The favorable part of having a homeowners association practice is that there are a lot of HOAs to service.  There are literally tens of thousands of them here in California.  California law requires most HOAs to have an annual review by a CPA, though some opt for an audit instead (since it exceeds a review, it is acceptable to the state).  HOAs also require annual corporate tax returns and sometimes an exempt organization return (Form 199 in California).  Lots of potential business there for a CPA.

The key to getting a lot of HOA clients is to become known to the property management firms who manage them.  HOAs are ruled by a board of directors made up of the homeowners, and they generally hire a property management firm to manage daily operations and accounting, including billing the members for HOA dues, collecting the dues, paying the monthly expenses, reconciling the bank account and maintaining the books.  They also send nastygrams to owners who are in violation of the rules -- those whose stereo is too loud or whose dog is peeing on the neighbor's petunias.

Many if not most boards of directors rely on the management company to present potential vendors (including CPAs) to the board for hiring decisions.  They expect the property manager to vette the potential vendors by sending requests for proposals (RFPs).  If the property manager knows you, they may include you in the pool of candidates for consideration.  Some property managers may really like you, and recommend you over the others, even when your bid for the work is higher.

The Board changes members frequently as new directors are usually elected annually.  New board members don't know you and have no loyalty to you as their accountant.  They rely on the opinion of the property manager as to whom to hire as auditor.  Vendors in the HOA business learn early on an important truth:  the property manager is usually the most powerful and influential agent of the HOA's board of directors.  He or she can provide you with a lot of business or effectively exclude you from consideration.  In HOA practice, it becomes clear early on that you must not alienate the property manager if you want to keep working.

This is potentially a large conflict of interests:  since it is the property manager's work that you are auditing (they keep the books), any critical management letter comments can get you fired.  To make matters worse, there are no legal or licensing standards for property management of homeowners associations.  Some property managers are competent and ethical; others are unprofessional, incompetent and sometimes downright crooked, e.g., soliciting kickbacks from vendors for recommending them, recommending vendors who are related parties (without disclosure) or in some cases, embezzling the funds of the associations.  HOA property management is lousy with the potential for bad work, conflicts of interest and downright fraud.

Okay, this article is getting a bit long, so let me summarize some points:

Favorable aspects of auditing/reviewing homeowners associations:

• There is a lot of potential business for CPAs;
• Most work can be done after the CPA's busy season;
• HOA's can provide the CPA with cashflow during the slow season.

Challenging aspects of auditing/reviewing homeowners associations:

• Homeowners associations have their own accounting and tax procedures and practices and specialized knowledge is required;
• Boards of directors change frequently and client loyalty is difficult to maintain;
• Due to the bid process and competition, CPA fees tend to be lower than for other types of business;
• Over reliance by board of directors on property management firms can potentially create conflicts of interest -- do you owe your duty to the board of directors of to the property management firm?
• Property management firms often do a poor job of accounting, meaning a lot of your fixed fee must be used in cleaning up the records and undertaking additional analysis and adjustment;
• Boards tend to turn over their CPA frequently, for frivolous reasons, and this can be frustrating, demoralizing and unprofitable.