PSA to incoming or new B4 tax accountants- stay away from partnership tax. If you get slotted there, switch into corporate. When it comes time to look for opportunities outside the B4, you will thank the random guy on fishbowl that told you what no one else does

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Rather be doing them then the 1040s

likefunny

Good advice I would echo and slightly reframe.

In other words, if you want to exit someday, make sure you understand what your options would be based on your current experience.

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Especially avoid AWM and SALT AWM PS work….

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If you really like PS and still want to do it be an M&A tax person so you are in on the planning end of PS which is actually very interesting vs trying to get out 1000s of K-1s….

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As an M&A Tax person, I co-sign this (or “re-tweet” as my staff say). Also way more $$$.

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Partnerships is great because you never have to worry about layoffs. Compliance isn’t so bad

likefunny

He’s right you know *Morgan Freeman pointing to the OP*

funny

I mean there’s plenty of partnership jobs are hedge funds and PE firms that do stuff in house if you live in a target city. But I agree with your statement in general.

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Ahh gotcha. Thats fair.

Where were you 20 years ago? 😢

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Seriously where is this dude like 10 years ago so I know what I’m getting into

It’s a rare skill our firm is looking for. A lot of companies get bought out by pe now a days so the skill is in demand and job exits are to vc and pe funds that pay well along with options. If partnerships are a passion you will have a job because a lot business forms 1065 and they are complex.

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Agree ! Should also avoid expat tax and global mobility roles! Niche with limited upside and no industry exit opp!

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it's the same in corporate. provision prep -> provision audit -> estimate & extension -> quarters -> compliance and keep going.

There are more exit opportunities in corporate than partnership

strongly agree with this

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