{ "media_type": "text", "post_content": "Is it ok to do taxes for your family/friends while working in tax at a big 4?", "post_id": "582c6d068adf65001047eefd", "reply_count": 19, "vote_count": 2, "bowl_id": "564a5cdb94887803001dd07c", "bowl_name": "Accounting" }

Is it ok to do taxes for your family/friends while working in tax at a big 4?

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You may be in the room as your family completes their own taxes.

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I'd say that's a conflict of interest and you are competing against your firm. But no one is going to really care if you helped your grandma do a 1040 and her only income was social security... without being super shady it's only 'illegal' if you get caught. Use good judgement and do not go around telling everyone what you are doing outside of work

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Are your family/friends not smart enough to figure out turbo tax?

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Only if you get caught

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Yes, free help is fine. Let them sign the return afterwards

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Are you signing their returns or putting your name on it or taking their money? It is against a noncompete agreement but like above said. No one is gonna care if you did the granny's 1040

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My roommates asks me to do her taxes every year. I sit with her and read the turbo tax questions to her as she fills out the information. She then buys a bottle of wine as payment. I hope I don't have to split the $10 bottle of wine with the firm.

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It would be against a non compete agreement, if you signed one when you started.

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Yes, it would most likely go against your employment contract. But why would you charge your family and friends? Seems kinda shitty. Do it for free or don't do it at all.

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No, you cannot do other returns outside of work for a profit. Also, how the hell do you have time during busy season to do extra returns??

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The firm is concerned about reputational risk. They don't want you going out and saying "I work at Deloitte I'll do your taxes" and then whoever is getting their taxes done thinks you're a representative of Deloitte. Then when you fuck up the person sues Deloitte. Now obviously this is a far fetched scenario, but because it is a scenario the firm just finds it easier to say "Fuck all Y'all, no taxes".

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So basically either do it and stfu about it and the firm will never find out or play by the rules and don't do it. If you're going for the moral high ground here and only want to do things that are 100% allowed, then the answer is sorry, you can't do it.

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^I should've been more specific: is it against the rules for me to do other people's taxes for a profit while working at a big 4?

What if you don't work in tax for your firm but know tax and want to do it on the side for profit? I was thinking of doing that.. is that also against the rules?

Ask HR if you want a hard answer.

^the thing is, they should be bothered if you don't want to sign their return. That's like a red flag. So it needs to be close friends and family only. Too bad you can't have your own clients through the firm...

How many of you have actually read a noncompete in their employment contract at below director level???? The firm doesn't care about a $300 return that it wouldn't do for less than $2000. It is a matter of policy in general whether outside work may be performed.

I would check he employment contract. Don't remember reading that it specifically excludes tax services. You may be required to pay the firm a fee based on your revenue or profit

^no, you don't have to pay your firm.

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