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Author Topic: Accounting Major  (Read 13250 times)

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Offline Renaissance

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Re: Accounting Major
« Reply #30 on: February 10, 2012, 09:50:16 AM »
good luck w/ your classes.  be safe when driving to school.  don't talk on the phone too much when driving. :)



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Offline E92M3

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Re: Accounting Major
« Reply #31 on: February 10, 2012, 09:52:56 AM »
I'm currently working on LLC and partnership.  About halfway through my assignment.  It's lots of headache.  :-X

Well, thanks to Quickbooks.... the program takes care of T accounts. 

Ummm, do you know how to use Quickbooks?

Unfortunately, I don't know how to use Quickbooks.  I specialize in tax so don't deal much with debits and credits these days.  Hopefully, you're learning a lot about LLC and partnerships.  I'd be curious as to what they are teaching in regards to LLC and partnerships. 



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Offline Lavender

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Re: Accounting Major
« Reply #32 on: February 10, 2012, 12:12:01 PM »
good luck w/ your classes.  be safe when driving to school.  don't talk on the phone too much when driving. :)
I didn't know you were on the conference call.  Ummmm  :icon_scratch:



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Offline Lavender

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Re: Accounting Major
« Reply #33 on: February 10, 2012, 12:15:15 PM »
Unfortunately, I don't know how to use Quickbooks.  I specialize in tax so don't deal much with debits and credits these days.  Hopefully, you're learning a lot about LLC and partnerships.  I'd be curious as to what they are teaching in regards to LLC and partnerships. 
I have a lot of questions on my returns.  I don't know why my employee doesn't have Fed. or State income tax witholding.  Also....I'm a bit confuse with the 940 and 941 forms.....As employers, we pay half of the FICA and SUTA (spl) taxes....how does that work?  I mean just pay whatever shows up in the 940 and 941 forms or are there extra payment?  Which means...is what shows up in the forms mainly combining the employee and employer portion or just the employee portion or just employer portion?

Are you in MN?  I need free consultation.  :-[



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Offline Renaissance

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Re: Accounting Major
« Reply #34 on: February 10, 2012, 08:22:30 PM »
I didn't know you were on the conference call.  Ummmm  :icon_scratch:

oyo...i was the one that was on first that day u were driving to sschool...and then the others came on.  remember i said i was also driving..home from a hunting trip? ;)



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Offline E92M3

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Re: Accounting Major
« Reply #35 on: February 12, 2012, 09:55:39 PM »
I have a lot of questions on my returns.  I don't know why my employee doesn't have Fed. or State income tax witholding.  Also....I'm a bit confuse with the 940 and 941 forms.....As employers, we pay half of the FICA and SUTA (spl) taxes....how does that work?  I mean just pay whatever shows up in the 940 and 941 forms or are there extra payment?  Which means...is what shows up in the forms mainly combining the employee and employer portion or just the employee portion or just employer portion?

Are you in MN?  I need free consultation.  :-[

Sorry, I'm not in MN.  Employment taxes can be tricky and is not my cup of tea.  You're employee typically should have fed and state w/h unless they're exempt or claimed on the W-4 that no w/h was necessary.  FICA is for social security and medicare and SUTA is for state unemployment.  In general, you pay one half of FICA and the employee pays the other half.  That's just the law.  There are some exemptions from this but those are typically rare. 

My advice is don't screw around with employment tax as the government can come down pretty hard.  If you have a CPA currently doing your return, I would recommend talking to that person as he/she would know your situation better.



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Offline Super User

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Re: Accounting Major
« Reply #36 on: February 29, 2012, 03:13:24 PM »
do u like math at all? if not then u need to switch majors. lol



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Offline zaubmos

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Re: Accounting Major
« Reply #37 on: March 05, 2012, 04:14:27 AM »
Ure scaring me lav lol

It was eith phlebotomist or accounting...

I choose numbers over needles :P



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Offline lost_forever

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Re: Accounting Major
« Reply #38 on: March 09, 2012, 01:34:54 PM »
there are pros and cons to tax and accounting...I t's a learning process because every year, policies and rules change.  You need to keep updated with the IRS regulations. 

Form 941 and 940 are employer federal quaterly tax to report their wages, tips, etc. There are so many taxes that one need to focus on such as unemployment taxes (quaterly), sales tax and withholding tax, coporate tax..etc. It is a headache if you have no patience. 

I use Quickbooks Pro2012, it is okay.  If its a small business, no need for a CPA but for bigger companies, you will need a CPA. 



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Offline SillieGoose

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Re: Accounting Major
« Reply #39 on: April 15, 2013, 03:26:32 AM »
I absolutely hate accounting.  I hate having to mull over every detail and if you are off by a penny, GOD HELP ME!  And the GAAP Standards, that scares me! 

My sister majored in accounting, but never actually did any accounting work; similar but not.

I was going to follow her footsteps, but when I got into the Accounting major classes, forget that.  Even tutoring couldn't help me stay and learn.  I switched major's fast...to HR to get away from numbers.  Whew!  But then I have to calculate people's pay.  Urgh!  The least part I like about my job.  I'd rather paper-screen 1000's of people, so much easier.  Accounting has dramatize me with numbers forever.  :cussing:



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Offline MovKuam

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Re: Accounting Major
« Reply #40 on: April 30, 2013, 12:52:50 PM »
Geography - Data and Mapping



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Offline tRouBLe

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Re: Accounting Major
« Reply #41 on: May 02, 2013, 11:07:35 PM »
i knew i wanted to go into accounting since i was 15 years old.  i was always good with numbers.  just make sure that you enjoy doing it because you may be doing it for the rest of your life.   ;D



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Be more concerned with your character than your reputation, because your character is what you really are, while your reputation is merely what others think you are. ~ John Wooden

 

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