A certified public accountant (CPA) is a unique and rewarding career. It’s also one of the most sought-after careers in the U.S. In fact, there are over one million CPAs nationwide, with an expected growth rate of 7% between 2020 and 2020.
If you’re beginning your accounting career, you may be wondering why become a CPA at all? Here are seven compelling reasons to become a CPA.
1. You Become an Expert in Your Field
CPA certification is the highest level of professional recognition awarded to qualified accountants, and it takes years of study and experience.
Only about half of all U.S.-licensed accountants are CPA certified. CPAs need to pass a rigorous set of exams that test knowledge across multiple areas within accounting, including auditing, taxation, financial reporting, ethics, and more!
Earning this credential makes you automatically become an authority on numerous topics surrounding finance. At the same time, you become highly skilled in many aspects of business management.
A CPA license also allows professionals to offer personal advice regarding taxes or managing money. For example, CPAs become experts in the tax code, help people file taxes, and provide advice on how best to minimize their tax burden.
2. You Have an Endless Number of Job Opportunities
CPA jobs are in high demand across all industries. No matter your interests or skills, there’s a good chance you can find a CPA career that matches them perfectly.
From major corporations to small businesses and everything in between, CPAs are needed in every sector of the economy. And with the ever-changing landscape of business, that number is only going to grow.
As a CPA, you can become an integral part of any organization that needs help with finance. You’ll be able to provide financial analysis and offer support on the best ways for businesses to grow their profits.
And as companies become more globalized, CPAs are needed across borders to ensure local laws are followed in multiple countries.
3. You’re in a High-Paying and In-Demand Field
The average CPA salary is over $71,550. But with experience and additional certifications, that number can grow exponentially.
CPAs are also in high demand, meaning you’ll likely always have a job waiting for you. As mentioned earlier, the U.S. Bureau of Labor Statistics expects the number of accounting jobs to grow by 7% between 2020 and 2030. That’s as fast as the national average of all other occupations.
As a CPA, you can expect to make a good living doing something you love. And as the field continues to grow, your opportunities for advancement will become even greater.
Plus, CPAs often receive other benefits such as bonuses, health care, and paid time off.
4. You Can Start Your Own Business
Becoming a CPA is an excellent way to become your own boss. Many CPAs become entrepreneurs and start their own accounting firms or offer services from home as consultants.
A significant proportion of all U.S.-licensed accountants are self-employed in some capacity. For example, you could become a financial planner that helps people with things like retirement plans and investment portfolios while offering tax preparation along the way during the busy season.
As a CPA, you have the skills and knowledge to become a successful business owner. You’ll be able to manage your own finances and keep your business in the black. And with the growing number of businesses in America, there’s always room for another accounting firm.
If you’re a tax pro, you can list yourself on https://www.taxfyle.com/freelance-cpa-jobs, a community of verified tax professionals who offer their services on-demand.
5. You’re a Valuable Asset to an Organization
As a CPA, you become a valuable asset to any company you work for. CPAs are in high demand due to their comprehensive accounting and business practices knowledge.
When it comes time to make critical financial decisions, businesses rely on the expertise of CPAs. Your insights and analysis will help companies stay afloat during difficult times and make sound investments that will lead to growth.
In addition, many organizations look for CPAs with experience working in different industries to bring those skills into their organizations. Having diverse experiences makes you even more marketable as a CPA.
6. You Can Earn Extra Income During Tax Season
There are only two certainties in life: death and taxes. As a CPA, you’ll become an expert at managing both.
Accountants become an integral part of American society during tax season as everyone scrambles to get their documents filed before the deadline. This is why many CPAs become independent contractors during this time selling their service on platforms like Upwork or Fiverr.
So if you want extra income without too much work involved, become a CPA and start offering your services either locally or online. You’ll be able to make a good chunk of change during tax season while doing something you’re already good at.
Plus, your services will become even more in-demand if you become a CPA with experience in multiple areas, such as bookkeeping and estate planning.
7. You’re Helping to Strengthen the Economy
As a CPA, you’re helping to strengthen your country’s economy. Every decision you make as an accountant directly impacts businesses and individuals all over the country.
Your work helps ensure that taxes are paid correctly and that businesses have the financial information they need to make sound decisions. Even if you’re not working directly with companies, your work still helps strengthen the economy by making sure everyone else follows the rules.
Become a CPA Today
There are many compelling reasons to become a CPA. There’s something for everyone, from the ability to become your own boss to the earning potential during tax season.
CPAs are in high demand due to their comprehensive accounting and business practices knowledge. So if you’re looking for a rewarding career with plenty of growth opportunities, become a CPA today.
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