Tim's Conversation with Gianna

Conversation between partner Tim Raines and his 14 year old daughter, Gianna:

GIANNA: Dad? You’re an accountant, right? Why did you become an accountant?  Sounds boring being behind a desk all day…

ME: Well, I’m not really behind a desk all day… I help others in my office, I attend classes, I go to clients’ offices, I try to move around when I can…

GIANNA: But why an accountant?

ME:  Being a good accountant helped me become a CPA and from there I focused on taxes.  I like researching tax law and helping people and businesses navigate all the regulations and look for opportunities.

GIANNA: So you are really a lawyer?

ME: No, but I work with the tax law & some great lawyers almost every day.

[Realizing she wanted a really good explanation, I elaborated.]

ME: I spend a lot of time focusing on the tax law, but having a Master’s in Accountancy and being a CPA helped me to first understand the language of business.  For example, if you understand all parts of the tree: its roots, the branches, the leaves, etc., it will help you know how to water it, fertilize it, when and where to prune it to make it grow and look pretty.  I do this for businesses and people by looking at how they do business, make money, spend money, their operations, cash flows, tax situation, etc. – all those things.  I do it because ultimately I like helping client solve problems.  The more you know about something, the less complicated and intimidating it is.  I really like being a part of helping my clients grow… and when they grow they can hire more people, help their families grow, help the economy, buy things they need, put other people to work and so on…

GIANNA: Oh… doesn’t sound so boring after all!

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Assessing the S corp

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Does your business have to begin collecting sales tax on all out-of-state online sales?