Taxes
Whenever someone learns I’m an accountant, his or her assumption is that I must be a tax expert. I hate taxes. I only took two tax classes. While I can hold my own on basic issues of personal income tax, corporate tax makes my head spin. We have a partner who only handles taxes, and I admire his ability to retain so much of the tax code. I can’t. All of those sections, those special elections, exclusions, and phaseouts just make me sleepy. I went to school for financial accounting. When you receive your federally-mandated annual reports for the holdings in your 401(k), you’ve entered my domain. Give me an annual report with consolidated statements and I have hours of interesting reading. Just don’t come to me with questions about deferred taxes, unless it’s a deferred tax asset.
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