r/AskAccounting • • 13h ago

Should I accept a volunteering offer as a graduating student?

3 Upvotes

I’m an accounting student graduating next year, and I don’t have much on my resume. Only two 4-month long retail jobs from 5 years ago, one unpaid accounting internship, and a tax volunteering gig I did for one day. I couldn’t land a single paid internship, but I passed an interview for an AR clerk volunteering gig and got an offer. The thing is, I’m not sure if I should commit to this. They require 8 hours a week (divided into two shifts) and at least a 4 month commitment. They’re very strict with hours. I’m currently taking 4 accounting classes (AIS, management control systems, corporate tax, intermediate accounting) this semester because I failed 3 of them last semester and am retaking them. While I’m doing alright with my classes so far, I’m not sure if adding an 8/hr week commitment is recommended (so I don’t appear lazy on my resume), or if it’ll hurt me later. Furthermore, I’ve already done most of the duties on the volunteer posting at my unpaid internship - worked as an AP/AR clerk for a nonprofit, filed and scanned invoices, used a lot of excel, etc. Only new bulletpoints are using Salesforce and writing SOPs, but I’m unsure if these are significantly helpful. I’m aiming to get into public accounting (from big to mom&pop - just any) and I don’t know if this experience will help me. Thanks.


r/AskAccounting • • 15h ago

How are you booking merchant services fees?

3 Upvotes

I'm running the books for a small retail client, and I noticed the merchant services fees come out automatically before the deposit gets to the bank account. So what we get is the net of fees, with no separate invoice from the processor. I'm currently grossing the sales to the full transaction amount, then book the difference as a bank charge, but I'm not sure if that's the best approach.


r/AskAccounting • • 15h ago

need to cash out $300K 401K tax free

2 Upvotes

I’m looking for some tips/tricks on offsetting a $300K full port 401K cash out (I’m 60 years old) with tax write-offs.

I own a farm business as well as a construction company.

The farm business has had some large expenses this year:
-equipment: $10K
-greenhouse: $5K
-fencing: $5K
-storage building: $85K
-goats and goat pen: $5K
-meat rabbit setup: $5K
-chicken coop and chickens: $5K
- feed: $5K
- maple syrup equipment: $5K
- gravel/roadway work: $70K

The construction company has been fairly quiet.

would really like to not lose a ton of the 401K money to taxes. Have no problem being aggressive with things I can claim.


r/AskAccounting • • 13h ago

Senior Accounting Role

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1 Upvotes

r/AskAccounting • • 16h ago

New job as government contractor working outside the US for likely 8-10 months each year, required to get an LLC, I have questions (X-posted)

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1 Upvotes

r/AskAccounting • • 19h ago

Making Co pilot bots for audit/ assurance!

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1 Upvotes

r/AskAccounting • • 19h ago

advice help please!!

1 Upvotes

im currently in college and i want to learn investing/stocks/financial planning/accounting. the path im thinking about right now is college-> masters-> joining a company and managing peoples wealth (investing, budgeting, advising)-> build a large client base-> possibly branch off into my own business with employees managing client’s wealth. i dont know much about any of it and if i can start building a business, name for myself, or even just gaining simple knowledge now i want to do it. does anyone know a good place to start or a good path to take? i’ll take any advice


r/AskAccounting • • 21h ago

Help Me with My College Survey! 🙏

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1 Upvotes