Best accounting books according to redditors
We found 301 Reddit comments discussing the best accounting books. We ranked the 167 resulting products by number of redditors who mentioned them. Here are the top 20.
We found 301 Reddit comments discussing the best accounting books. We ranked the 167 resulting products by number of redditors who mentioned them. Here are the top 20.
Articles from reputable sources are a decent source of knowledge, but some quality business books will get you an infinitely better understanding of concepts. Here is my personal business book list if you want to get a "universal generalist" understanding of business:
I am graduating with a Bachelor of Commerce Honors degree in May and I can easily say that one of these books (average price ~25$) has significantly more content than most individual classes I have taken (~600$). However, keep in mind that business knowledge and business acumen are two entirely different things. Knowledge is easily obtainable through books like these, and acumen is the result of applied experience with decision making. In short, it is one thing to be book smart, but it is another to get out there and actually apply it. No one can give you that in the form of an article or book - you have to do that yourself.
edit: added links to amazon
Believe it or not, The Fair Tax book is actually an interesting read. The amount of money spent dealing with taxation and the amount of money not collected because of our current tax (due to things like the black market) is absolutely staggering.
86 was tax reform, not tax cuts. It was a response to the crazy tax loopholes that existed at the time allowing for the rich to avoid paying taxes through really crazy investment vehicles. There was a huge public outcry about the unfairness in the code, not just the rate. That's why it was revenue neutral, they actually closed loopholes instead of making new ones.
For a really gripping account of the passage of that bill, have a look at the showdown at guchi gulch.
https://www.amazon.com/Showdown-Gucci-Gulch-Lawmakers-Lobbyists/dp/0394758110
Sup Stab-Stabby,
Before you read what I have to say, I highly suggest checking out this sub: https://www.reddit.com/r/Bookkeeping/ . I asked a question there about bookkeeping and got some pretty honest and straight forward advice.
Anyways - from what I understand (and I could be wrong, anyone feel free to correct me), it's essentially making journal entries and making the ledger, writing up invoices and income statements.
You absolutely for sure need to have some basic concept regarding what to debit and credit when there is a transaction, and other basic accounting rules.
If you are not well versed at all in accounting (like I was and still am, however I've been studying in my spare time), I highly suggest you read this book: https://www.amazon.com/Accounting-Made-Simple-Explained-Pages/dp/0981454224
The author explains the accounting concept and doing things like a book keeper would do very simply, and straight to the point.
You do not need to be a math wizard to be a bookkeeper, but you need to do things like Add, subtract, multiply, or divide in accounting terms.
For example: Return on Assets = Net Income/Average Total Assets.
But I'm not sure if you'd use something like that in bookkeeping, it's more of keeping records I'm assuming .
I do want to point out that you're not insane considering a career like this. I'm in the exact same position - decided I needed a career change and started looking into different careers out of desperation. Found accounting to be doable / interesting, financially stable, seems to be a decent job market and it's something that doesn't take long schooling wise compared to... let's say law school or becoming a doctor.
Hope this helped you out in some way or another
There was a book on amazon about inde game development taxes. I picked it up(it's free with kindle unlimited, 5 for kindle) meaning to read it but haven't gotten around to it.
It seems like a good read but ultimately I do agree with getting an accountant, one less thing you don't have to worry about.
Great book: "Every Landlord's Tax Deduction Guide"
http://www.amazon.com/Every-Landlords-Tax-Deduction-Guide/dp/1413317685
> Why is this deduction valid in the first place?
Because, tradition. And I mean that literally. the original income tax code made all interest spending deductible on the assumption that it was business spending, because there was very little personal credit in 1913. that broad exemption continued to exist until 1986, when the deduction was narrowed to mortgages as part of the immense balancing act that was the 1986 reform bill. Had they eliminated it, it would have been an immense tax hike on everyone who owned a home, and the bill had to meet all sorts of political hurdles to get passed.
Say no more, fam.
You don't need a degree to run a business. Having your own business allows you to experiment with these books first hand instead of taking some professor's word for it. Professor's usually just read what the book says. If they were actually good at running a business they'd probably be doing that.
If you like that kind of thing, there is a book that details how the 1986 tax reform was passed, and how it mutated over time. It's fascinating how many people had their hands on it.
It's called Showdown at Gucci Gulch.
Showdown at Gucci Gulch https://www.amazon.com/dp/0394758110/ref=cm_sw_r_cp_awd_4pZxwb0ZEWDRX
Deeply sorry for your loss. I received some advice as a young man about windfalls that I’ll share with you.
Forget about the money for a year. Open a separate bank account that you won’t see and live like it isn’t there. The lost income from investments for one year will be insignificant compared to the cost of a hurried misstep.
In a year with a clear head and a strong heart educate yourself about different investment philosophies and see which ones resonate with you. Investing is very personal and there isn’t one right answer.
There isn’t a right answer, but be wary of the salesmen. All the money / wealth managers are well compensated for their advice and there are many ways they hide their fees and take advantage of their clients (even fiduciaries). If you’re considering enlisting a professional, a robotic trader like https://www.wealthfront.com/ or https://intelligent.schwab.com/ will serve you just as well with lower fees. If you do decide to enlist an advisor to help formulate a financial plan for you, find a fee-based advisor who you can pay once every few years to update the plan.
Here are a few books that were helpful to me in developing my investment philosophy that allowed me to retire in my early thirties.
Bogleheads / Vanguard Index Funds
https://www.amazon.com/Little-Book-Common-Sense-Investing/dp/1119404509
The Richest Man in Babylon (investing philosophy)
https://www.amazon.com/Richest-Man-Babylon-George-Clason/dp/1505339111
Dave Ramsey / Personal Finance
https://www.amazon.com/Total-Money-Makeover-Financial-Fitness/dp/159555078X
Tax-Free Wealth - Tom Wheelwright / How investments affect your taxes
https://www.amazon.com/Tax-Free-Wealth-Permanently-Lowering-Advisors/dp/1937832058
Where are the Customer’s Yachts
https://www.amazon.com/Where-Are-Customers-Yachts-Street/dp/0471770892
I felt the same way, so I went and found a bunch. Here they are:
Start Your Business is the single greatest book on starting a business. It is a pretty comprehensive overview of all aspects. I would definitely recommend it.
Finance:
Financial Accounting is a decent text. The usefulness of financial accounting in general is quite limited for an entrepreneur though. The techniques are mainly used by outside parties to evaluate companies, whether for investing or lending. But it can be useful in that it gives a metric for how your company is doing.
Managerial Accounting is a good book. The subject matter is extremely important and should definitely be learned. Get a book on managerial accounting.
Marketing:
Marketing Management is a really good text for an overview of marketing. One of the best.
Most marketing texts are smaller and not textbooks like you're looking for. There are some detailed texts that go into complicated calculations related to marketing decisions. Go check them out. It's like marketing science or something like that.
Business Law:
Business law is not really worth going into extreme detail. So a good book is The Entrepreneur's Guide to Business Law .
Final Note: It's important to note that it makes way more sense to just get into business and learn as you go. You could spend years learning from every text possible and get nowhere.
If you're at all willing to look into it. Please find a copy of The Fairtax Book. It's a very easy read, and may completely change your viewpoint.
The Fairtax has so many great effects beyond a change in the collection process of taxes. It makes it completely transparent and voluntary. The current Fairtax bill also makes it much more difficult to levy new taxes, but makes it easier to decrease them.
Please ask any questions about it. I personally think a change in tax policy can have the most positive benefit to our country of any issue we currently face. The Fairtax, in my mind, makes the most sense.
I hope someone from the accounting degree/field can provide you with a more clear answer.
If you're having trouble retaining information, I would first consider, is this a field that you are even interested in? I get that it is a bit late after spending 3 terms on it but maybe it's not (just something to consider)? Also in a working world, you don't need to memorize everything like we do for tests. You have books and internet available where you can always utilize. It's not until you've been working in the "real world" do certain concepts sink in.
Second, if it comes to practice, there is alot you can do to keep applying your skills. A quick search on google just took me to this page: https://www.accountingcoach.com/quizzes. Has good amount of definitions and practice scenarios for you to calculate. I'm sure there's plenty of other sites as well.
I found someone recommending this book on another post: https://www.amazon.com/Schaums-Outline-Financial-Accounting-Outlines/dp/0071762507
Also, have you had a change to check out Lynda, Pluralsight or youtube videos (Lynda and pluralsight are free to use as a student from WGU)? I usually find that if I am having trouble understand certain concept from reading, it's better if I hear and see someone work out the problem.
I found this from youtube on your current course: https://www.youtube.com/playlist?list=PLIEoX8IiVPT-dW1aFWaG7twxLXx45ILWW
In regards to the job market, I would say make sure you're finding a location that has plenty of Accounting job opportunities, so you can bounce around after getting 6 months - 1 yr experience at each. I found this to be very effective method for my friends who are in accounting who graduated from college.
Having a degree is going to check off a box for the hiring manager. It does show that even though you are from a different background, you were able to understand the concepts of the degree that you studied for (atleast at a foundational level). It doesn't guarantee anything like how you will work with others or how you are able to meet deadlines (you should def highlight that achievement of completing the contract in 6 months, wayy ahead of schedule). You have to be confident in your interviewing skills and be able to demonstrate that you are capable of doing the job.
I would def also look into doing a CPA. I know companies that have bonuses on the line depending on if you can finish your CPA within a certain time of employment.
In summary, use the resources that are available to understand the problem, practice as much as you can till you're confident in your abilities, and keep striving to improve yourself and skills everyday.
(P.s. sorry for rambling, I can hardly get myself to write a one page paper for history but felt certain things that need to be said. Also that last line you said "i would be fine with a...", get that out of your head. Aim higher, and if you achieve that, aim even higher).
I wish you and your family the best of luck and happiness!
He is for privatizing prisons, so long as they deliver the same quality of service at a lower price, but he's aware that either private or government-run prisons are subject to the guard lobby organizations, which fight to get more people imprisoned. He talks about this at length on Joe Rogan's podcast. But more importantly, he's for ending the drug war, and releasing non-violent offenders, which would significantly reduce the prison population and bring people back into society.
He is in favor of the Fair Tax which would end federal income and payroll taxes, and corporate income taxes. Instead we'd have a national sales tax on new goods and services. (Used goods would not be taxed). There are a handful of states that operate this way with their own state taxes. No income taxes, just sales tax. This plan and idea are very nuanced, so I suggest you read up. (The book about it is FAR better than their website, unfortunately.) But this is a very progressive tax system with the prebate setup. As a Libertarian, he's against crony capitalism, so the tax breaks you're talking about that were bought by lobbyists would probably be on his list to fix. Government shouldn't give anyone preferential treatment. On a side note, the wealthiest people in the US pay a tremendous amount in taxes. This "fair share" stuff is utter nonsense. See this chart and watch this video about "Deficit Day."
He wants to end the wars, and end our interventionalist foreign policy that wastes money, lives, and makes us less safe.
This is a repost from Hacker News. There are some good comments there and a mention of the interesting sounding book Algebraic Models For Accounting Systems.
Some books I've enjoyed:
I think this was the book I read that talks about it - https://www.amazon.com/Tax-Free-Wealth-Permanently-Lowering-Advisors-ebook/dp/B00CCTWBWW
This one so you can actually learn how to keep track of your money. All the books I've seen listed here so far are just inspirational garbage, with little to no practical knowledge.
I bought this for my Sony CPD-E540
https://www.ebay.com/itm/Delock-Adapter-DisplayPort-1-2-Stecker-VGA-Buchse-Adapter-Cable-Delock-NEU/133139481368?hash=item1effbb4318:g:BR8AAOSwQOxdT6cJ
But at less than 100 kHz, you might just be able to use an cheap HDMI or DP to VGA adapter from Amazon. You'll get a green outline if the refresh rate exceeds the adapter.
People also say you can get an RTX card and use USB-C to VGA adapter which apparently handle very high refresh rates.
Hey! What's the main topic you're looking to learn about? If you want to know strictly personal finance, I would check out a beginners book on accounting. This will provide you with the knowledge to balance all your books and plan your taxes. I'd recommend this book:
https://www.amazon.com/Accounting-Made-Simple-Explained-Pages/dp/0981454224
If you want to learn about something more specific though just let me know!
I think it's worth understanding your state's laws. Legal zoom costs some amount of money, and they'll keep costing you. I took the time to understand the laws for creating an LLC (1 day), and got it set up in another 1 day, and the cost was $150 total, just for the submission fee to my state. I just renewed it again a few months ago for $125. If you go with somebody like legal zoom, they're going to keep bleeding you when the renewing and whatnot comes around, and charge you another $500, and so on.
I found this book to be quite helpful regarding taxes in the US, though it's a little dated now
https://www.amazon.com/Definitive-Guide-Taxes-Indie-Developers-ebook/dp/B0197G82MK/ref=sr_1_10?ie=UTF8&qid=1524772796&sr=8-10&keywords=indie+game+business
It's interesting stuff anyway. You need to understand about how you'll pay taxes for the year on a quarterly basis and all that. Declare what your taxes will be for the year, and so on.
It's a bit rote, but if you are seriously considering launching a game and making money from it, ie forming your own business, you need to really understand what all there is to running a business. You can't just ignore it and stick to only doing the game stuff.
If you're not even thinking about releasing a game, you can't really be sued for anything, so don't worry about it
http://www.amazon.in/The-Descent-India-Jitender-Bhargava-ebook/dp/B00J4DASV0
If you want don't want to pay, PM me.
I've found that Schaum's Outlines are great for both understanding the material and providing practice problems, particularly in the beginning when nothing made sense. There are a number of YouTube channels that are helpful for accounting courses in general (such as Edspira and Farhat), but I don't think they're geared for the introductory accounting courses. You could give AccountingCoach a try; I've used the site for alternate explanations a few times. Investopedia has been useful for referencing terminology and putting it into context.
In addition to accounting resources, I'd suggest that you either obtain an accounting calculator (the BA II Plus is the recommended calculator) or if you've already got a TI-83/84, you learn to use the financial functions. You'll spend a fair amount of time on the time-value-of-money (TVM) functions in some of the courses, and it'll help you tremendously to understand how to use your calculator.
FWIW, I had no real accounting background, so debit/credit was kind of a weird thing to wrap my head around. It's not debit (as in subtract money) and credit (as in add money) but rather a notation (convention?) to signify what side of the t account to place the amount in. Each account (cash, accounts payable, expenses, etc.) has a normal balance on one side or the other. Cash, for example, is an asset and has a normal debit balance. Accounts Payable (a liability account) has a normal credit balance. In double entry accounting, each debit recorded will have a corresponding credit recorded, to ensure that the accounting equation (assets = liabilities + owner's equity) remains balanced. At the end of any particular period of time, you can prepare what's called a trial balance to ensure that all of the debits you've made equal all of the credits you've made, which keeps mathematical errors out of your books.
Good luck to you! I've really enjoyed all of the things I've learned about accounting so far, and I hope you enjoy them too!
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It's very rare that I get stupefied like this. Seriously, upvote for your density. You knocked me for not picking up your sarcasm before, but you totally miss not only my own sarcasm but the fact that what I stated is not a conservative argument but the epitome of a liberal argument?
Before I get into the rest of my argument, let me remind you of something. Sure, the top 20% may own 85% but in 2008 the top 25% paid 86% of the taxes. The bottom 75% paid only 14%, the bottom 50% only paid 2.7%. Is that not fair enough? Apparently not.
Back to what stupefied me, you asked (formatted to get to the point of the question):
> Whatever amount the haves have at the moment are we anywhere near taxing them at the amount that we should be to have a fair and equitable society?
And I answered:
> But to placate you a moment, in order to tax the haves enough to have any shot at a 'fair and equitable' society, the tax rate would have to be 100% of everyone earning even a cent, followed by a gracious rebate from the government so that everyone receives the same amount of money. From each according to their ability, to each according to their needs, right? Show me a large society where Karl Marx's ideals have taken good hold without requiring genocide and the stomping out of man's God given rights.
That answer is not my position on what would help this country. It is not a conservative opinion or argument. If you want to force a truly equitable society, that's the option you're looking for. Not me, I personally despise that option, because it forces everyone at zero. That's what you're really looking for, in case you don't realize it, to try and force a fair and equitable society. The problem is that no society will ever truly be completely fair and equitable. I just gave you Karl Marx's idea of a fair and equitable society, which is what many liberals and the left lean towards without even knowing it.
Now, allow me to state my opinion as a Conservative clearly since you obviously mistook what I was saying before. It may be complicated but I'll break it down for you so you can follow. Pay attention, you might learn something or even see something that you like.
Maybe you'll still think that conservative ideals are idiotic, and you're more than welcome to have your opinion. This is as clear cut as I can make my positions as a Conservative. What's your beef with them?
edit: Unless you're just going to say "TL:DR, you're still a conservative asshole."
It so rare to find someone on reddit who is open to at least learning about a new idea. :)
If you want to learn more you can check out the FairTax.org website. There was also a book and a follow-up book written about it. Finally, you can check out the actual text of the proposed House bill.
Is the plan perfect? Nope, but there are no perfect plans when people are involved. I just think its better what we have right now and its the best idea I've seen to replace the current system.
You misinterpreted my remark. I did not ignore your source, but I admittedly did not read it in its entirety, not did I read each citation in the document. I will edit this past to include a list of useful books when I return home.
Edit: The reason why commercial banks create the illusion of an inflated monetary supply is that certain low-risk investments (demand deposits, treasury bills, and commercial paper to name a few) are grouped as cash on financial statements. Thus, if you were to add up all of the "cash" recorded in every company and individual's "balance sheet," you would find that the total exceeds that of the total monetary supply. The reason for this is that all of these assets share the same characteristics. They are highly liquid, and fungible. Distinguishing these assets from cash is immaterial in every way; it would provide no additional useful information to stakeholders, and would be costly to report. For more information on these accounting principles, consult Financial Accounting.
Commercial banks (which I will later distinguish from Investment banks) have a very well defined business model. Through a combination of equity and semi-permanent liability funding, they make loans with varying degrees of risk (E.G. car loans and mortgages). Deposits in these types of institutions can be revoked at any time, thus the name demand deposit, the deposit will be refunded on demand. These are the types of banks you are talking about. This type of financing is substantially similar to financing options available to corporations, especially commercial paper. For more information on Corporate Finance, consult Ross. For more information on treasury management, consult Bragg.
I get where you are coming from. A lot of people want to blame banks for the recent recession. I think there is an argument to be made that investment banks inadequately estimated and reported risks in certain investments. But it is important to distinguish commercial banks from investment banks. Commercial banks take deposits from customers, and provide low risk loans to generate revenue. Depositors have very little control over the investments involved, and commercial banks are required to maintain accounts at the federal reserve, and maintain a reserve of cash to refund deposits. Depositor's accounts are insured by the FDIC (in the States). These accounts are reported as cash. Investment banks take deposits from customers, and invest in a variety of financial instruments. Often, depositors maintain control over the investments made in their accounts. Investors bear the liability for any losses on their accounts, and earn any income generated by the financial instruments. Investors are not guaranteed by the FDIC. These accounts are reported as investments, not cash.
Neither of these types of accounts pull money out of the air, or generate something for nothing. Again, I think there is an argument to be made that investment bankers have, in the past, poorly reported risk exposure. There is also an argument to be made that moral hazard became involved through government institutions such as Freddie Mac and Fannie Mae. There is not, however, room to argue that banks are some sort of magical institutions which have any special powers that you or I do not. If you want to argue that banks are bad, blame investment banks for inadequate risk disclosure. Blaming commercial banks for the recent recession is a bit like blaming Netflix for the collapse of Enron.
If you're doing this get a good CPA who has real estate knowledge.
Morris Invest has an incredible podcast that covers all sorts of topics like this.
Also Tom Wheelwright who is featured on the podcast a lot has a great book on this called Tax Free Wealth.
Eliminating all taxes or eliminating income tax?
Pretty good read on eliminating income tax and IRS.
http://www.amazon.com/The-Fair-Tax-Book-Goodbye/dp/0060875496
By eliminating the income tax code, prices fall on everything consumed (which has the cost of the tax code for producers built into it). You add a national sales tax of like 18% I think (around the amount prices would fall) and everyone gets most of their paycheck now, prices are the same, government is still funded, and no need for IRS or tax preparation, tax collections, etc.
Even covers the poor by giving everyone a prebate (a check to cover sales tax on "essentials") every year. Suggests that employees of the IRS could still be retained to implement this process.
tl:dr - by eliminating tax code and instituting national sales tax, you get rid of shelters, loopholes, special interests. prices stay the same, everyone receives a 'bump' in income by taking home nearly all of their pay and government is still funded.
I've put my book,
Crypto Taxes Made Happy: The Definitive How-To Guide For Preparing Cryptocurrency Tax Returns In The United States
https://www.amazon.com/Crypto-Taxes-Made-Happy-How-ebook/dp/B07BPSK2VK/
on Amazon and gotten them to offer the digital version for free if anyone can use it for any assistance on items they are still unsure about.
My team is also available if anyone needs us as a service.
Under 20 days left in tax season! ;)
I like the Kieso books here
and Schaum's outline if you just need a quick review of the topic.
but yeah, I'd pass on the courera courses. Way too basic.
Either an HDMI->VGA DAC or a DP->VGA DAC is what you'd be after.
The former are cheaper for the most part, but not really capable of more than 1080p60(and it's 4:3 equivalent) to 1200p60(more so it's 4:3 equivalent UXGA). You'd need to move to a displayport based offering such as certain offerings from Sunix or Delock to go higher than that. Admittedly, that monitor won't be able to max out the latter, but is in the weird middle ground of "capable of more than the HDMI adapters but not quite high end enough to heavily justify the DP options".
This is the HDMI->VGA I usually recommend; https://www.amazon.com/Portta-3-5mm-Audio-Converter-support/dp/B003O55U8K/
I like it specifically because of the option to use an external power supply, which will allow it to work with devices which might not supply enough power over HDMI to run it that way; Stuff like Raspberry Pi and such especially.
https://www.amazon.com/Tendak-Converter-Adapter-Portable-Connector/dp/B01B7CEOVK/
This is also another well recommended offering, especially if you don't need the external power option.
As for DP, this would be the go to for "I just need the higher spec'd DAC": https://www.ebay.com/itm/Delock-Adapter-DisplayPort-1-2-Stecker-VGA-Buchse-Adapter-Cable-Delock-NEU/133139481368
There are DisplayPort MST boxes that do more along with this, but if you just need something for your tube, it's not worth bothering with.
Why does the person making $100,000 have to spend 80%? The FairTax plan encourages saving. It also only applies to new goods, so buying a pre-owned car, for instance, means you don't pay the FairTax on that purchase. The prebate system ensures that anyone including the poor shouldn't have to be paying any taxes, assuming they are spending within their means.
I strongly suggest anyone read The FairTax book. The chapter on the built-in tax costs on the products you buy (ever hear "businesses pass the costs on to the customer") is eye-opening.
> "The fundamental assumption of fuel prices and non-stop flights to San Francisco from India was no longer valid due to Gulf carriers offering attractive fares from their hubs.
Err, the same gulf carriers who bought the same planes from AI.
We are not all jumping on Air India, we are jumping on Praful Patel.
http://www.amazon.com/Descent-Air-India-Jitender-Bhargava-ebook/dp/B00J4DASV0/ref=sr_1_1?ie=UTF8&qid=1426520107&sr=8-1&keywords=descent+of+air+india#customerReviews
I highly recommend this book, it will answer all of your tax questions. It's worth the $30 (and if you do go ahead with this plan, you can deduct the cost of the book itself).
http://www.amazon.com/Every-Landlords-Tax-Deduction-Guide/dp/1413317685/
And as others have noted, if you're not planning to live in it personally you need to get a mortgage for it as an investment property. The fact that you're planning to rent it to a relative is no different than if you were renting it to a stranger. It's unlikely there would be much scrutiny after the loan is made so long as you're not delinquent, but technically it would be mortgage fraud as you'll need to sign a document that it's intended as a primary residence.
All that being said, if the numbers work this can be a great setup.
I haven't had a chance to look through it yet but I found this a couple weeks ago when I was looking for review material. They have several books that cover the full range of accounting and they're affordable.
http://www.amazon.com/gp/aw/d/0071762507?pc_redir=1408428804&robot_redir=1
Shameless self-promotion (my apologies). If you want to self-prepare and have a spare $0.75, you can check out my book at https://www.amazon.com/U-S-Taxes-Worldly-Americans-Traveling-ebook/dp/B01N6PAE5Y/
Thank you
Thank you. Do you think that working from the Schaum's book will be sufficient? It's this one: https://www.amazon.com/Schaums-Outline-Principles-Accounting-Fifth/dp/0071635386
Ok, well a lot of Introductory Accounting books are really more about bookkeeping than anything else. I'd avoid those. If you want to get a head start, the Phillips and Libby one is good. I teach it in my Intro Accounting class. This is an older edition, but you can get a used version for $3.00 on Amazon so that's a plus. Everything builds on the concepts in this book. To succeed in Accounting, you have to master debits/credits and journal entries. There are lots of great YouTube videos on Accounting concepts too so if there's something in the book that's not making sense, see if you can find a good video on the topic.
Here's a link to purchase the Phillips and Libby book: https://www.amazon.com/gp/offer-listing/0078025370/ref=sr_1_1_twi_har_1_olp?ie=UTF8&qid=1465504702&sr=8-1&keywords=fundamentals+of+financial+accounting+book+libby
Also, I haven't read this book, but it sounds like it covers all the basics well.
https://www.amazon.com/Accounting-Made-Simple-Explained-Pages/dp/0981454224/ref=sr_1_1?ie=UTF8&qid=1465504552&sr=8-1&keywords=intro+accounting+book
Best of luck!
That just seems a knee-jerk opinion on a hugely complicated economic question. There are proponents of a consumption tax from all ends of the political spectrum, with the X-tax being the most spelled out policy for the US. I'd prefer a consumption tax with a rebate/low UBI to make the tax a net progressive, but I find all of these policies intriguing enough to not toss them out immediately. Income taxes have a lot of issues that consumption taxes handle better, and vice versa.
Haven't read it yet, but perhaps that issue is addressed here?
Bradford's original paper on the tax, highlighting many of the potential issues, can be found here.
>“The Fair Tax.” What is this? It isn’t defined
It has been very well defined.
Sure thing :). It took a while for the model to stick with Moneywell, so I'd HIGHLY recommend watching the tutorial videos: http://nothirst.com/tutorials/. It's quite different from Quicken/Mint/similar tracking tools.
Also, Quickbooks might not be necessary for your business, but if you can justify sitting down and learning it I would also recommend that. I personally feel better from the tidiness and having everything well accounted for with proper financial statements. I did take a number of accounting classes in college, so it only took me a few days to get up and running. If you're not very comfortable with accounting, I HIGHLY recommend reading this book (the cover looks bad, but the content is very good): The Accounting Game
PM away with specific questions.
These aren't technical tax books, but if you're not planning on going into tax they're a lot more useful and interesting than reading something like The Logic of Subchapter K or something.
http://www.amazon.com/Good-Evil-Impact-Course-Civilization/dp/1568332351
http://www.amazon.com/Showdown-Gucci-Gulch-Alan-Murray/dp/0394758110/ref=sr_1_1?s=books&ie=UTF8&qid=1464585769&sr=1-1&keywords=gucci+gulch
Here are all the local Amazon links I could find:
amazon.co.uk
amazon.ca
amazon.com.au
amazon.in
amazon.com.mx
amazon.de
amazon.it
amazon.es
amazon.com.br
amazon.nl
Beep bloop. I'm a bot to convert Amazon ebook links to local Amazon sites.
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http://www.amazon.com/Accounting-Game-Basic-Fresh-Lemonade/dp/1570713960
Best book about accounting...helped me a lot when I was first learning.
Selling Principles of Audting and Other Assurance Services, 21st Edition
Asking Price: $40
True. You can search for more info here https://www.amazon.com/U-S-Taxes-Worldly-Americans-Traveling-ebook/dp/B01N6PAE5Y/ref=sr_1_3?s=digital-text&ie=UTF8&qid=1487360085&sr=1-3&keywords=expat+tax
As others have said, you still have to fill in US tax returns.
I've just seen the book U.S. Taxes for Worldly Americans: The Traveling Expat's Guide to Living, Working, and Staying Tax Compliant Abroad mentioned on another sub - I have no idea how good it is, but it's free on Kindle right now. I assume this is a limited time offer.
Plug for a "Fair Tax" solution.
https://www.amazon.com/Fair-Tax-Book-Saying-Goodbye/dp/0060875496
While not the best written book. It does get the idea across to people looking into the subject. If you want to dig deeper into it and see much more data, there are other books you can read.
Quick cover of the ideas inside.
I personally found the topic interesting. I've read a few more books on the subject and I think it has some merit. The current situation is obviously is ripe for fraud, errors, and it's rather burdensome.
There are many other ideas out there to fix the US tax code. Some of them I really like. I might post more books later if you like.
> Your attempt at an ad hominem attack on my bravery is duly noted.
My comment regarding your willingness to consider presented evidence isn't part of my argument for the FairTax. It was an observation on your unwillingness to participate in good-faith conversation by availing yourself of presented information.
> As I mentioned elsewhere, with this 'prebate' we'd still have conservatives arguing what costs are basic, and what are not.
No, it's spelled out in the plan. I haven't read the newer critic rebuttal book yet.
> In the end, the fair tax would hurt the poor more than the rich.
I presented evidence that it wouldn't; where's your evidence? Regardless, I will concede this: it's hard to imagine a new, more equitable, tax program that wouldn't tax lower-income people more.
Also from Walter Williams:
> Aside from the fairness issue, 47 percent of taxpayers having no federal income tax liability is dangerous for our nation. These people become natural constituents for big-spending, budget-wrecking, debt-creating politicians. After all, if you have no income tax liability, what do you care about either raising or lowering taxes? That might explain why the so-called Bush tax cuts were not more popular. If you’re not paying income taxes, why should you be happy about an income tax cut? Instead, you might view tax cuts as a threat to various handout programs that nearly 50 percent of Americans enjoy.
Are you referring to this one?
https://www.amazon.com/Schaums-Outline-Financial-Accounting-Outlines/dp/0071762507
It's been a long time since I read it, but this book breaks down the expected amount if you want the move to be revenue neutral. Their estimate may be a bit high now due to the recent income tax cuts but it should still be pretty close.
I see this argument regurgitated a lot about why consumption based taxes won't work.
A progressive consumption tax can work, however, and would have the added benefit of not penalizing people on savings and investment.
There is, of course, the inheritance issue, but I think that with the level of tax evasion already taking place with income based tax systems that we should start looking at a fairer, more effective method of taxation.
This book presents a system called the "x tax". Pretty interesting read.
https://www.amazon.com/Progressive-Consumption-Taxation-X-Tax-Revisited/dp/0844743941
In the same boat as you. Ended up with a Maths minor and rarely get to use any of it. However, there is this book, which examines accounting from a purely abstract algebra/group theory point of view. So higher maths can be used, but mostly in a pure maths sense, and not so much applied.
https://www.amazon.com/Principles-Auditing-Other-Assurance-Services/dp/1259916987/
https://www.amazon.com/dp/0393624854/
https://www.amazon.com/Mastering-Maribeth-Assistant-Professor-Geology/dp/1259929655/
https://www.amazon.com/Lone-Star-Politics-Tradition-Transformation-ebook/dp/B07C6JG56L
https://www.amazon.com/Lone-Star-Tarnished-Critical-Politics/dp/1138562696/
https://www.amazon.com/Examples-Explanations-Criminal-Richard-Singer-ebook/dp/B07CLGPC88
https://www.amazon.com/Basics-Public-Budgeting-Financial-Management/dp/0761869751/
Need all these. Please PM me and provide your prices. Would need some more soon.
TIA
Looking for textbook:
South-Western Federal Taxation 2019: Individual Income Taxes 42nd edition
https://www.amazon.com/South-Western-Federal-Taxation-2019-Individual/dp/1337702544
PP: $10
Looking for PDF for this book:
Southwestern’s Individual Income Taxes, 2019, Young, Hoffman, et. al
ISBN: 978-1337702546
Link: https://www.amazon.com/South-Western-Federal-Taxation-2019-Individual/dp/1337702544
I can pay up to $15
"prebate" is the most critical term you need to search. The prebate provides the infrastructure that you need for the Basic Human Income.
I could point you to fairtax.org, but I think the way they describe it is more confusing than anything. Honestly, I think this book is a lot better way to get to know it.
There is one good thing on the FairTax site. You can see the sponsors here which includes some democrats. It's a good plan.
The prebate is a stipend to make sure that poor people never end up poorer because of the consumption tax. The prebate is enough money to cover the full amount of the consumption tax based on the federally defined poverty-level income. The tax plan is simpler (which is the beauty of it) because it doesn't need to exempt food, medicine or anything else. The prebate covers it instead. (One of the problems with the FairTax website is the way they describe necessities as being tax-free. That's kind of true, but the individual taxpayer gets to decide what a "necessity" is. There are no exemptions, just the prebate.)
Of course, no one says you have to spend all the money that you make. If you're making $90k per year, but buying used goods (which were taxed once, and only once, when they were new), living simply and saving for retirement, you could also avoid paying the tax.
If you're making a million dollars per year, that's just going to be a meaningless bunch of zeros in your bank account unless you actually spend it. More likely, you'll be out buying nose jobs and new cars and paying the tax on every bit of it.
It's kind of a luxury tax, without being so narrowly defined. The FairTax replaces regressive taxes. (Taxes which are easy on the wealthy and easily manipulated by lobbyists to create loopholes.) Luxury taxes are progressive, (Heavier on the wealthy.) unlike other consumption taxes.
In 1910 Federal spending was 6% of GDP.
In 1913 we created the Federal Reserve and passed the 16th amendment.
In 2010 Federal spending is 46% of GDP.
If you are serious about averting dictatorship then we must end the Fed and repeal the 16th amendment
Here you go dude. Read this http://www.amazon.com/Tax-Free-Wealth-Permanently-Lowering-Advisors/dp/1937832058 . There are plenty of reasons why people dont pay as much taxes. They invest the way the government wants them too. They provide jobs ect.
To really get a clear view of all the details give the fair tax book a shot
Even though I'd bet the questions were ambiguously phrased, these results tell me that gun rights organizations need to focus more resources on educating democratic voters about firearms and gun rights.
Also, these graphs remind me of a book I once read: How To Lie With Charts
This book is great: http://www.amazon.com/The-Fair-Tax-Book-Goodbye/dp/0060875496/ref=sr_1_2?ie=UTF8&qid=1344964945&sr=8-2&keywords=fairtax
I need this book to help me be more confident in my job. Some days I feel like I don't know all of my job and this would help me understand more.
I really liked this book that you may want to check out if you haven't looked at this important facet of investment reading yet IMHO - http://www.amazon.com/Tax-Free-Wealth-Permanently-Lowering-ebook/dp/B00CCTWBWW/ref=sr_1_1?ie=UTF8&qid=1383148324&sr=8-1&keywords=rich+dad+tax
> abolish the IRS
I like the sound of that. I wonder when we'll pass the Fair Tax.
Someone PM'ed me asking about how hard the tests are and I thought other people might be curious.. so I decided to post my reply here.
The tests are not really that difficult. It's just a way that the OCC ensures that applicants have a basic understanding of accounting principles, can write reasonably well, and summarize complex information.
The knowledge test is 75 multiple choice questions and you’re given 90 minutes. It focuses on fundamental accounting principles, financial statements (and ratios), and the time value of money. I stalked your reddit history and saw that you’re in the accounting program.. so I don’t think you will have any trouble. I would brush up on the topics listed in the link below. I torrented the Schaum's Outline of Financial Accounting to get a high level overview of accounting principles. I also think the sample questions on that page are a good representation of the actual test. If you still have your MGA201 book that would work too. I finished the test in a half hour or so. It tells you if you passed immediately, but it doesn’t tell you how many you got wrong. Many of the questions were incredibly simple. I remember being shocked when the question came up: is cash a current asset or liability? Like really OCC?
I thought the written test was even easier than the knowledge test. You are given ten documents and need to reach a conclusion about the bank and support it. The test is used to assess how well you can organize a lot of information and convey your ideas. It’s not used to assess your knowledge of banking or anything else. I thought the test was easy because they give you all of the information that you need. The documents have a lot of cross references, one of them will say something like see document six. You have to be able to follow the references, and pull information from the various documents to support your conclusion. I don’t think there is anything that you can really study for this test.
I would suggest that you book an appointment to take the tests as soon as you can. I applied on the second to last day of the hiring period, and had to go to Rochester to take the test. You should be able to get a location in Buffalo though.
http://www.occ.gov/about/who-we-are/careers/knowledge-test-entry-bank-examiner.html
http://www.amazon.com/Schaums-Outline-Financial-Accounting-Edition/dp/0071762507
Ignore the peanut gallery - if you're reasonably smart and willing to put in a little effort, you can learn enough accounting to handle it yourself in a few weeks. I did, and a year later I met with an accountant just to go over what I had done. It took him only a few minutes to say "you've obviously got this - no need to pay me."
Double entry accounting isn't immediately obvious, but it's not that complicated either. Everything you need to know is in this book: http://www.amazon.com/Accounting-Made-Simple-Explained-Pages/dp/0981454224/ref=sr_1_1?ie=UTF8&qid=1375022942&sr=8-1
EDIT: I'm just talking about accounting here. There's other legal paperwork you'll need to handle too (board meeting minutes, Bylaws, etc). Also not hard to handle on your own, but for that stuff, this is the book you want: http://www.amazon.com/The-Corporate-Records-Handbook-Resolutions/dp/1413312039/ref=sr_1_1?ie=UTF8&qid=1375023321&sr=8-1
>But those are not solely the domain of a "Fair" Tax. Those things could be done in any system, so they're not an inherent advantage of the "Fair" Tax.
This is arguing for the sake of arguing. No other system proposes this. The FairTax is an actual bill introduced in congress. Part of it repeals these other taxes. The foundation of the bill is based on repealing these other taxes.
>Most drug dealers are not living the high life and getting rich. They're barely scraping by. Their rebate check from the government would probably outpace what they're paying in "Fair" Tax.
Cite your source and I'll address this.
>All of Europe also supplements their VAT with an income tax. By eliminating our income tax, we'd have to raise the VAT well above what Europe charges. The two situations are not identical and you know that.
You asserted that taxing tourists kills tourism. I proved you wrong with an example. Also, the FairTax isn't a VAT.
>And my point is that those lobbying activities are just as harmful to the integrity of our political system and they aren't addressed here. Arguing that a "Fair" Tax reduces lobbying is completely worthless as long as our politicians are still bought and paid for by a hundred other lobbying organizations that still have an interest in bribing officials. You're just shrugging and saying, "Well at least they're only getting bribed for favorable regulations now, instead of tax breaks." So what?
So we shouldn't reduce the means to bribe politicians in one way because we can't do it in every way?
>Which would still mean that the SSA would need to be larger than it is now, negating at least part of the savings you get from shutting down the IRS.
The IRS is HUGE and has way more responsibilities than just automating a bank draft. Again, you're just asserting that one would wipe out the other. Until you cite a source, I have no need to address your assertion.
It has become clear that you're engaging in partisan arguing. You're defending an imperfect system and attacking a new idea (very progressive of you). It isn't a Republican vs Democrat thing. I'd encourage you to read up on the FairTax to get a better idea of it. One of the books below is specifically written to address criticisms. From the opening it admits that it is not a perfect tax, but far superior to our current system. I'm not going to argue anymore because it's become clear that you're not even considering it, you're only acting to reinforce your existing opinions. It's healthy to question a new idea, but that's not what this is.
http://www.amazon.com/The-Fair-Tax-Book-Goodbye/dp/0060875496/ref=sr_1_1?ie=UTF8&qid=1347053051&sr=8-1&keywords=fair+tax
http://www.amazon.com/FairTax-The-Truth-Answering-Critics/dp/B0027CSNOO/ref=sr_1_2?ie=UTF8&qid=1347053051&sr=8-2&keywords=fair+tax
Visit your local library and look for bookkeeping/accounting books not prescribed for college. They tend to be more concise and easier to understand if you're new to accounting. Something like this.
I'd highly recommend The Accounting Game
Hey, I just finished reading Financial Accounting by Robert Libby (http://www.amazon.com/gp/product/0078111021/ref=oh_aui_detailpage_o02_s00?ie=UTF8&psc=1) as my first Accounting textbook, and was wondering if you had another textbook like book to recommend I move on to next? I'll probably read Quality of Earnings in tandem, unless you feel I'd get more out of it when I have a better sense of Accounting in general.
Here's a great book on all things "taxes for expats": https://www.amazon.com/gp/product/B01N6PAE5Y/ref=kinw_myk_ro_title
If you go for it I'd also recommend hiring a tax agency that specializes in these kinds of unique expat situations. This one is good and reasonable priced: https://www.taxesforexpats.com/
One does not simply understand the fair tax, one purchases the short book for a penny on Amazon and reads it.
http://www.amazon.com/gp/offer-listing/0060875496/ref=sr_1_1_olp?ie=UTF8&qid=1347416828&sr=8-1&keywords=fair+tax&condition=used
Read up on the FairTax. It's a proposal to eliminate the current mess of regulations and replace them with a national sales tax. It addresses the issue of regressive taxation by proposing a "pro-bate" - a payment to each household for the tax they will pay in the next month for spending up to the poverty line. Then, you essentially only get taxed for "excess" spending, which rich people do a lot more of than poor people. Check it out.
https://www.amazon.com/exec/obidos/ASIN/1583487670/