CPA Shortage, And How It May Affect You

Did you know that we are currently facing a CPA shortage?

 Why does this matter to you? Well, CPA’s, or Certified Public Accountants, especially those that are Forensic Accountants who specialize in Family Law areas of Accounting, are vital to completing Moore Marsden Calculations, and almost any other accounting involved in a marriage dissolution. It can take the most talented CPAs to understand the title issues, loans, refinances and Family Law that deal with Community and Separate Property issues that can occur over a marriage throughout the years. Undoubtedly, you’ll want to hire a trained CPA expert to make sure that you know exactly how much money you and your Ex-Spouse will be splitting.

 According to a 2019 report from the American Institute of CPAs, the number of accounting graduates in 2018 dropped nearly 7%. In fact, fewer than 100,000 people take the Certified Public Accountant exam each year. Of the 100,000 that take the exam, around half do not pass it the first time. Even top accounting firms have reported that their hiring managers are finding recruitment increasingly difficult.

 Why are we going through a CPA shortage? There’s a number of theories on what has caused the decrease in CPAs over the years. One take on the shortage is that accounting is just a difficult subject to pursue and study. Students will have to take a fifth year in college in order to qualify to take the CPA exam. Only the most dedicated scholars are willing to take that path. Another theory is that the accounting profession is not as popular as it used to be. Though that theory may be true, since there is such a demand for CPAs, firms are more willing to entice prospective employees with higher salary ranges.

 What makes Moore Marsden Experts special is that we have an in-house CPA ready to handle any cases that come our way. Howard Friedman, CPA and Real Estate Broker, has over 35 years of experience as a CPA and specializes in Forensic Accounting with a focus on Family Law and Real Estate accounting matters. This means that not only can our team complete a thorough and accurate calculation of your case, wecan also put our analysis into context for the real estate matters involved. If you want to know how much interest your soon to be Ex-Spouse has in the Separate or Community property, we can calculate that for you!

 If you have any questions about how our in-house CPA can handle your Moore Marsden calculation or any other Moore Marsden issue, contact us at MooreMarsdenExperts.com!

Did you know that in addition to being CPA's, we are also Licensed Real Estate Brokers? In addition to our Moore Marsden calculations, ask about our Real Estate Brokerage Services.

This newsletter is information in general about the Moore Marsden calculations and not tailored to your specific case which may have a different set of facts and circumstances. Consult your Attorney and your Moore Marsden Expert for your individualized calculation based upon your individual facts and legal issues.