Posts tagged "finance"

The Top 10 Cities Worldwide To Become An Accountant And Make It

Number crunchers are everywhere, wherever there is businesses and large corporations, there is a need for accountancy. But where is it best to become an accountant and use those skills to progress and become to the best of the best? Well, it’s a numbers game! We will need to look at the cities that bring the biggest concentration of business , and therefore accountancy jobs.
Let’s both look at cities from average salary to the commute times, this list will help you to determine the best place to be an accountant, whether you would like to relocate and move onto a better career ladder and see if the grass is greener on the other side, or you are just interested for research reasons, either way this list is for you!
Coming In At #10 Is Seattle, Washington
Washington DCYes, Seattle may have a…. gloomy reputation, but Seattle is among one of the most luscious places to live, infact, Investment News even ranks it one of the best places to live due to it’s cultural amenities, colleges and percentage of the population holding graduate degree’s!
This also makes it a top choice accountants and auditors alike. The salary is very respective around this city, at the same time the cost of living is not that sharp on the wallet. It is also the HQ of one of the biggest accountancy firms (11TH) in the United States. The average salary for accounting is, $66,950 for accounting/auditing and $38,460 for bookkeeping, the population is just 565,000 and the unemployment rates are astronomically low.
At A Steady #9 Is Minneapolis
This city is more tech-friendly, there are also close to 40,000 accountants working in Minneapolis (and it’s twin city St. Paul). MN is also home to the top 20 accounting firms, here are a few… RSM, LarsonAllen LLP and Mcgladery. Salaries to work here as an accounting are like those of in New York, accept the cost of living is a lot lower! Salaries can include $63,300 on accountant/auditor and $36,490 for bookkeeping.
At A Great #8 Is Denver, Colorado
This city is a great combination of urban and low cost living with natural beauty. Denver has a huge range of different professions, it is also on the low end of 6.8% of unemployment rates. The average salaries are between $68,290 to $69,830, school graduates are in the 82% range and the population is currently in the 600,000.
At Lucky #7 Philadelphia, Pennsylvania

Philadelphia is home of the cheesesteak, but of course, it has much more to offer than this! Philadelphia has the fourth highest gross domestic product among the American cities. The city also boasts 45k accountants, auditors and bookkeepers, the salaries boast a cool calm $36,740 – $73,850. I think the only down side to this city is the commute times to work, where on average it takes 31 minutes!
At Sweet #6 Is Phoenix Arizona
Pheonix Airport
Hate the winter weathers? Want to live in one of the fastest growing cities on the planet? Dig out them sunglasses and take a look at Phoenix! Boasting 40,000 accountants and more, many bookkeepers are flocking to Phoenix where there is plenty opportunity and lots of sun. Now the average salaries… accountant/auditor is $56,380 to the bookkeeper at $35,160. The population is of course higher than the other cities we went over the population currently runs at 1.4 million.
At #5 Is the Capitol Of Washington, DC
No, you do not need to be a politician or lobbyist to reside here in Washington, DC. This is a great place for workers of all kinds, Washington also has one of the lowest employment rates in the country. The average salary here is $40,870 – $75,830, the population is at 600,000 and the unemployment rate is 6.1% which is astronomically low.
At #4 We Have The Big Bad City Of Chicago
This windy city has towering blocks of financial institutes, the only city Chicago can look up to is New York in this case. This is home to the 6th and 7th largest accountancy firm in the USA, Grant Thornton and BDO Sideman. Over 80,000 people work as accountants in this city and the salaries are nothing to be sniffed at; accounting/auditing runs at $70,730 and bookkeeping is $36,800. This huge city has a population of 2.7 million and the unemployment rates run at 10.3%.
Coming In At #3 Boston, MA
Boston is known across all states for it’s high concentration of universities, but there is a lot more to Boston, eating seafood or cheering for the Red Sox. Investopia named Boston one of the top cities in the world for finance, making this the perfect place for accountants to live! Boston is currently home to more than 50,000 accountants and auditors. The salary ranges from $39,530 to $69,700. Boston also has a low unemployment rates compared to the other cities we have looked at; 7.7%.
At #2, Home Of The Cowboys, Houston, TX
Houston received a top ranking on Kiplinger’s best cities of 2008. The reason why was because the unemployment levels and the cost of living were relatively low compared to other American cities and metro areas. The Big Four firms have offices in and around Houston along with many electricity companies calling Houston, home! Accountants salaries here begin at $34,170 all the way up to $68,260. The unemployment rates here are 8.2% of the population, which is 2 million.
And Of Course We all Know #1 NEW YORK!
You knew that no other city could take it’s place, right? New York has tower blocks that dwarf the competition, and also blow the other cities out of the water with over 140,000 accountants, auditors and bookkeepers! With all four of the biggest accounting firms having homes here, the big apple is the best place for any accountant to make or break him, if you want to be in finance, this is the place for you!
New York’s Statistics:
Salaries: $39,360 – $69,830
Population: 8,200,000
Unemployment rates: 8.9%

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George worked for a Birmingham Accountants back in the 80’s but is now retired, he has worked all over the world and audited books for some ofthe biggest brands in the USA. He now owns his own blog giving out top notch advice and motivational speech to new accountants that are struggling to climb the ladder.


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Posted by Taxmaster - May 6, 2013 at 5:25 pm

Categories: Uncategorized   Tags: , , , , , ,

Social Security: Why 10 Years Matters

When it comes to your Social Security benefits, chances are that the only number that comes to mind is the amount of money you will be receiving with your monthly benefits package, which is quite understandable. Be this as it may, you also may want to think about another important number:  the number “10,” as in ten years. Believe it or not, one decade plays several big factors in terms of Social Security benefits. Continue reading to discover why this number is so important when it comes to your benefits options.

1. You must have worked a minimum of ten years to receive Social Security benefits. Although a lot of people spend several decades of their lives working a nine to five, many of us do not. Whether you stay at home with the kids, work under the table, simply haven’t had to work, or whatever the situation may be, in order to obtain Social Security benefits based off of your own work history, you must have at least a decade of taxable income under your belt.

2. You must have been married for at least ten years to receive spousal benefits. Your ex may have been the bane of your existence, but they also may be worth something to you where the wallet is concerned. If you were married for at least ten years, then you are entitled to spousal benefits, which is up to fifty percent of your ex’s Social Security benefits. Whether you take advantage of these benefits or not, it will have no effect on your ex-spouse’s benefits. However, you can only receive your own benefits OR spousal benefits, so be sure to choose the option that gives you the highest amount of money.

3. You have to have been in a common law marriage for at least a decade to receive spousal benefits. This is pretty much the same as the aforementioned point in number two, but only applies to those who live in states that recognize “common law marriages” (living with your partner for a specific amount of time with the intent to one day get married). To find out if your state recognizes common law marriage, check with your local government or social security office.

An entire decade may seem like quite a long period of time; however, if you compare ten measly years with the typical life span of most humans, you will realize that ten years is not much more than a brief era of your life. To make the most out of your Social Security benefits, and to set yourself up for a decent financial future when you retire, take the previously mentioned notes into consideration. Toughing it out for ten years may just be worth the higher pay out in the long run.

Jim Blair is a Social Security expert who provides advice to retirees both a consultant and through his popular Social Security Retirement Guide.


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Posted by Taxmaster - May 5, 2013 at 2:46 am

Categories: Tax Law   Tags: , , , ,

Tax Avoidance – Time To Name And Shame?

Much has been made over recent months about aggressive tax avoidance schemes and the types of companies and individuals who enter into them.  As the media has seemingly started to try to ‘name and shame’ those promoting the scheme, as well as some of their higher profile participators (such as Jimmy Carr), is the next step to publicise other individuals and companies who become involved in such strategies?  There seems to be a suggestion that those entering into tax avoidance schemes are somehow immoral.  But is this a fair assumption to make? Consider the generation of people who have never worked and have milked the welfare system for every penny.   Is it fair to name and shame those who have made their money, contributed to the country’s coffers and who want to keep some money back for themselves?

It is widely reported that HM Revenue and Customs (HMRC) loses out on £5billion of revenue a year as a result of tax avoidance schemes and the exploitation of loopholes.  Despite efforts to try to stem the flow of such schemes, with specialist anti-avoidance teams in place across the UK, there is no doubt the ’boutique’ firms are still peddling their wares.

The House of Commons Public Accounts Committee has recently reported that HMRC is failing when dealing with the ’boutique’ tax practices in more ways than one.  Inefficiency within HMRC when dealing with such matters means that it can take a long time before a scheme can be closed.  As such, scheme promoters will use this as leverage when selling schemes to their clients.   For the taxpayer, they are sold a scheme on the basis that if it works then they will not pay tax at all.  If it fails, then they have delayed paying the tax.

For companies and individuals, this is extremely tempting when it comes to making the choice between making payment to HMRC as required or retaining the funds (even if temporarily) for themselves.  Cash flow has become prevalent as the economy continues to struggle.

The committee advised that there needs to be more of a deterrent, for the firms selling the schemes and those entering into them.  One suggestion is that the scheme providers and participators should be publicised on a list or ‘named and shamed’.  However, there is a strong argument that this is contrary to the rights of the individuals involved.

As well as this, it would be difficult to judge which schemes should be listed.  There is a big grey area between normal, run of the mill tax mitigation planning and the aggressive tax schemes which are under fire.  Mistakes could be made which could ruin the reputation of those perceived to be involved in ‘aggressive’ tax planning as part of a name and shame campaign.  This grey area, whereby people seek to plan for their taxes within the realms and intention of tax legislation, would need to be protected.

Mandy Jones is a highly experienced specialist when it comes to tax planning and so is well placed to offer advice for the likes of


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Posted by Taxmaster - April 26, 2013 at 1:42 am

Categories: Federal Tax, Income Tax, State Tax, Tax Evasion, Tax Law   Tags: , , , ,

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