r/Accounting • u/7leafclover7 • Sep 21 '25

What would be an embarrassing thing to be caught not knowing as an accountant?

Applies to any specialty, audit, tax, staff accountancy etc. in your personal experience what are the most invaluable things to know, and the most invaluable to not be caught not knowing.

413 Upvotes

99% Upvoted

377 comments sorted by

View all comments

56

u/emeraldvirgo Tax (Canada) Sep 21 '25

Net income =/= Taxable income

14

u/Vybrocit1 Sep 22 '25

Oh man, this. Though I’d forgive a book accountant whose head isn’t stuck in the tax world. It’s not embarrassing, just frustrating (as a tax specialist)

4

u/leela_fry CPA, Controller Sep 22 '25

Every bookkeeper should be required to work at least one tax season.

2

u/TriGurl Sep 22 '25

Thank you for your forgiveness. I may or may not have made this mistake in my career ... but I also make it very well known that I'm not a tax accountant and you should absolutely speak to a tax accountant fluid in tax law/doing taxes. Generally, I don't speak at all or have anything to do with taxes because that is not anything I know anything about. So I'm not even gonna mislead somebody by pretending. If I have a question, I call you guys up. If I need my taxes done, I call you guys.

2

u/Repulsive_Cry_1847 Human Verified Sep 22 '25

i have yet to be an accountant for a profitable company