Year-end fun, CPA style! 3rd annual edition.

 

Most of you reading this are probably winding down your 2017 and preparing for a little break to spend time with family, exchange gifts, and party-hop. Not us CPAs! We’re waiting with baited breath (what is that anyway?) for updates on the new tax bill. Questions abound:

  • What will it look like?
  • How will it impact our clients?
  • In which tax year will it take affect?

I don’t know about you, but I’m excited to curl up by the fire over the holidays with a nice… tax law…

For CPAs, waiting around can be dangerous, as we start to think we’re creative. For the 3rd annual installment of our Year-End Fun blog post, we decided to give you a year-end quiz. Don’t worry, it’s only 10 multiple choice questions. If you have trouble with any of the answers, please contact your CPA immediately.

1. When do you think tax reform will be passed by Congress and signed by the President?

  1. 2017
  2. 2018
  3. 3018
  4. I don’t care. I already spent my savings on holiday gifts

2. How many holiday parties will you go to?

  1. 1
  2. 2
  3. 3
  4. None, as they are not considered a business expense

3. Who will you be celebrating the holidays with?

  1. Family
  2. Friends
  3. Neighbors
  4. By myself, reading the new tax law with a jug of eggnog

4. How much are you going to spend on gifts this holiday season?

  1. $100
  2. $500
  3. $1,000
  4. $0 as I cannot write it off

5. If you are going on a trip during the holidays, what are your plans?

  1. Caribbean cruise
  2. Beach vacation
  3. Trip to Europe
  4. Head to my parent’s house to get free food, gifts, and clean laundry

6. What do you look forward to after the holidays?

  1. Rest
  2. Returning gifts
  3. New Year’s Day football
  4. Receiving my 2017 tax packet from my CPA

7. When do you think you will be able to file your tax return on a postcard?

  1. 2017
  2. 2018
  3. 3018
  4. When they invent 100-page post cards

8. Based on your 2017 holiday spending, what are your plans for the 2018 holiday season?

  1. Spend more money
  2. Spend less money
  3. Spend the same amount
  4. I don’t care as the new tax law will provide me with more money than I would ever need

9. What is your #1 New Year’s resolution?

  1. Save more money
  2. Lose weight
  3. Don’t get audited
  4. Visit your CPA more often

10. If you had one wish for 2018, what would that be?

  1. Win a $759 million lottery prize
  2. Sell my business to Google
  3. Become the Sole Survivor and take home $1 million
  4. No more funny CPA blog posts
  5. All congressional incumbents are defeated

Scoring the year-end quiz

8-10 correct answers: you are a genius!

5-7 correct answers: you don’t understand (or like) my sense of humor.

Less than 5 correct answers: you thought this was a real test? You need a vacation!

Happy Holidays and see you next year.

Neal Bach, CPA and generally funny guy