I’m mad. Why aren’t CPAs volunteering to help businesses and individuals here in our economic disaster?

Don’t get me wrong.  I think it’s wonderful that CPAs are volunteering to assist those poor souls in Haiti.  I congratulate and thank them.  And I am not equating our country’s situation to that in Haiti, where hundreds of thousands of lives have been lost.  That is truly tragic and heart-breaking.  However, where have these CPAs been for the past year during our economic disaster?  People here have been losing their jobs; businesses have been going under; millions have been unable to afford health insurance (my wife, a cancer survivor of 7 years, was denied health insurance by Aetna and Blue Cross/Blue Shield and others); millions have been losing their homes in a national disaster that may eventually equal, if not exceed, the great depression.  Isn’t our current and expected economy a national disaster, too, requiring a state of national emergency?  However, I haven’t seen one accounting firm offer to help.  Have you?  If so, please step forward and let us know.

I’m mad.  I’m mad at voting for Obama for real change, and then seeing billions given to those responsible for this calamity, while millions of victims were laid off by those responsible.  I’m mad that executives of banks receiving TARP money received billions in bonuses from those funds.  I’m mad that viable solutions to the subprime mortgage crisis have been proposed by the best brains in our country at Wharton and Stamford, only to have been ignored by our leaders.  I’m mad over the Supreme Court’s latest ruling allowing Corporations to give unlimited funds to political candidates.  But I’m really mad at the American citizenry for not getting as mad as me.  Somehow we have all become too complacent and dignified, feeling it is inappropriate to get mad.  Thank, God, our forefathers got really mad over a tea tax.  As Howard Beale ranted, you first got to get mad; hopefully, action—real change—will then follow.

When will the American people, certified public accountants, accountants, and others unite in a voice for real change in our country?  Can they?  Will they?  Not likely.  Again, that’s what truly makes me mad.  We all know that the jobs will not return, not when there is so much talent abroad willing to work for as little as $.25 per hour.  And we all suspect that millions of more jobs will be lost.  I have a small public accounting practice, and half my clients are considering bankruptcy; many fear losing their homes; some cannot pay their taxes.  And if you own an accounting practice, won’t you be affected, too, by your clients losing their businesses, their jobs, and their homes?  Do you think they will continue to pay you to do their accounting and tax work?  If their businesses fail today, yours will follow tomorrow.

It’s time for CPAs as professionals to get more involved and stop burying their heads in their cubicles, ticking, checking, footing, and cross-footing ad infinitum.  It’s time for some kind of action.  At the very least, get mad; speak up:  even a nerd can be heard.  Offer to help small businesses and individuals here, struggling to survive.  On October, 12, 2009, I issued a press release, offering assistance to small businesses and individuals in dire need of assistance.  A copy of the press release is available at http://www.cpa-connecticut.com/accounting-tax-assistance-press-release.html.  I encourage all of you to get involved.  I thank you in advance.

Please forgive my bombast, but I’m mad.

This article is provided for informational purposes and is not intended to be construed as legal, accounting, or other professional advice.  For further information, please consult appropriate professional advice from your attorney and certified public accountant. 

Have a tax or an accounting question?  Please feel free to submit it to William Brighenti, Certified Public Accountant, Hartford CPA Accountants.  For information and assistance on any tax and accounting issue, please visit our website, Accountants CPA Hartford, and our blog, Accounting and Taxes Simplified.

If and only to the extent that this publication contains contributions from tax professionals who are subject to the rules of professional conduct set forth in Circular 230, as promulgated by the United States Department of the Treasury, the publisher, on behalf of those contributors, hereby states that any U.S. federal tax advice that is contained in such contributions was not intended or written to be used by any taxpayer for the purpose of avoiding penalties that may be imposed on the taxpayer by the Internal Revenue Service, and it cannot be used by any taxpayer for such purpose.  The above tax advice was written to support the promotion or marketing of the accounting practice of the publisher and any transaction described herein.  The taxpayer recipients of this offering memorandum should seek tax advice based on their particular circumstances from an independent tax advisor.

About William Brighenti

William Brighenti is a Certified Public Accountant, Certified QuickBooks ProAdvisor, and Certified Business Valuation Analyst. Bill began his career in public accounting in 1979. Since then he has worked at various public accounting firms throughout Connecticut. Bill received a Master of Science in Professional Accounting degree from the University of Hartford, after attending the University of Connecticut and Central Connecticut State University for his Bachelor of Arts and Master of Arts degrees. He subsequently attended Purdue University for doctoral studies in Accounting and Quantitative Methods in Business. Bill has instructed graduate and undergraduate courses in Accounting, Auditing, and other subjects at the University of Hartford, Central Connecticut State University, Hartford State Technical College, and Purdue University. He also taught GMAT and CPA Exam Review Classes at the Stanley H. Kaplan Educational Center and at Person-Wolinsky, and is certified to teach trade-related subjects at Connecticut Vocational Technical Schools. His articles on tax and accounting have been published in several professional journals throughout the country as well as on several accounting websites. William was born and raised in New Britain, Connecticut, and served on the City's Board of Finance and Taxation as well as its City Plan Commission. In addition to the blog, Accounting and Taxes Simplified, Bill writes a blog, "The Barefoot Accountant", for the Accounting Web, a Sift Media publication.
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