Fully Depreciated, Still in Use
When most people hear the word “accountant,” they think of boring introverts with their heads buried in spreadsheets and ledgers, sitting in cubicles all day putting numbers in boxes. The men in the profession are balding, paunchy tightwads. The women are cat ladies like Angela from The Office. The Venn diagram of “sound financial management” and “life of the party” shows very little overlap, despite whatever Angela may have done with Dwight in that supply closet.
In real life, accountants are as fun as anyone else. Rolling Stones frontman Mick Jagger studied accounting at the London School of Economics before launching the Greatest Rock and Roll Band in the World. Saxophonist Kenny G and MMA fighter Chuck Lidell both finished degrees in the subject. And comedian Bob Newhart worked as an accountant before heading to Hollywood. (His motto was “That’s close enough,” which may help explain why he wound up in show business.)
Where do accountants go to show off their fun side? Take a look at www.TB4A.com, which stands for “the Big 4 Accountant.” (Decades ago, “the Big Eight” national accounting firms were the proud standard bearers of the profession. That was before mergers, acquisitions, and a company called Enron knocked that number down to four.) You’ll find an entertaining collection of hats, mugs, sweatshirts, t-shirts, and even candles with inside baseball slogans and catchphrases for number crunchers like us to enjoy. But what do those slogans really say about the profession? Let’s take a closer look:
“I’m Billing You for This Conversation” sweatshirt: The world is moving away from hourly billing, an antiquated practice that charges clients for the time and effort that goes into a project. Smart accountants prefer billing for value, simply because we know what we’re worth. So why perpetuate an outdated stereotype?
“World’s Cutest Tax Credit” onesie: The Department of Agriculture—everyone’s go-to source of parenting advice!---says it takes $233,610 for a middle-income family to raise a child from birth through age 17, not including college. But sure, let’s focus our attention on that $2,000 annual credit!
“No Crying During Busy Season” desk name plate: You can be forgiven for thinking tax pros live and die by various IRS deadlines: March 15, April 15, September 15, and October 15. But where’s the humor in crushing hours, missed family engagements, and weekends at the office?
“The H in Accountant Stands for Happiness” t-shirt: A recent Career Explorer survey showed accountants rated their career satisfaction at just 2.6 stars out of 5, putting them in the bottom 6% of workers. At the same time, a survey of Glassdoor review data showed them rating their satisfaction at 71.92 out of 100, ranking them second only to manufacturing. The truth is, every accountant’s work is different. Like so much of life, a career in debits and credits is what you make of it.
“Fully Depreciated, Still in Use” mug: This may be the ultimate self-own. When you think of something “fully depreciated,” you think of something old, like Sam Walton’s infamous Ford F-150 pickup truck. The best tax professionals spend hours sharpening their pencils, keeping up with tax law changes, learning new planning strategies, and helping clients accomplish their goals with a minimum of interference from the IRS. Why default to the tired stereotype of someone who hasn’t learned anything new since the day they graduated school?
Here’s the bottom line. There’s nothing boring about keeping more of what you earn. Proactive tax planning can save enough to party in Ibiza with the real rock stars. So don’t let the stereotype fool you. If your income (and tax bill) have gone up this year, call us and see how much fun we can really be!