Certified Public Accountant (CPA)

Introduction 

A Certified Public Accountant (CPA) plays a crucial role in providing accounting services in the public sector and the corporate world. Therefore, their interviewing such experts can assist in gaining valuable insights regarding the legal aspects of accounting other issues surrounding accounting activities. This paper presents an interview involving a CPA named Tien Phan. With three years of experience, the interviewee was in the best position to address the specific questions that this study sorts to answer. The interviewee has been working with Hines, which is based in Huston, Texas. His roles have included two and a half years as an external auditor at Deloitte, and a year as a project accountant at Hines. 

With a view telecommunication, it was possible to address the geographical difference between the interviewee and the interviewer. On the same note, it is worth noting that the interviewee with the interviewer as his superior while they both served in the Marine Corps between 2006 and 2010. This past relationship helped in creating a relaxed but professional environment for the interview. 

Findings 

In brief, the interview was a success since the interview gave clear and detailed responses for each of the questions presented. The findings below summarizes the responses of the interview based on the specific issue that each of the questions sort to address. 

Legal recommendations 

According to the interviewee, the most common business structures in the US are the sole proprietorships, partnerships, corporations, Limited Liability Companies and cooperation. Regarding the question of legal structures, the interviewee mentioned the tax implications of each. According to the interviewee, each legal structure was better than the last in regards to paying less in taxes. The interviewee also sated his preference to LLC option, especially when it comes to small enterprises. 

The interview provided no explanation to the reasons behind his choice while answering the question of whether the legal structure can be changed once established. According to the interviewee, changing a business model from one to another is a costly affair since investing in research requires capital. However, according to the interviewee, he noticed and learned the possibility of altering the business structure. 

Forming the a Business 

As part of the research, the interviewee sort to find whether a business should be formed in or out of Texas State. In response, the interviewee emphasized the need to consider the state-specific tax for business startups. According to him, forming a business in Texas is an informed decision since the state does not charge state-level tax on individuals. Regarding tax implications, the interviewee revealed how members of LLC receive their annual k-1 form and they are required to report their respective share of income, which is tax exempted. 

Employer Identification Number 

The interviewee also gave a satisfactory response regarding the need for employer identification number. According to him, the law requires companies to have a separate bank account. The interviewee emphasized the need for separating the funds meant for the shareholders from their personal funds and expenses. This is because a LLC is a separate legal entity from its owners. 

Conclusion 

In summary, the interviewee provided crucial insights regarding the legal aspects of accounting and other issues such as forming a business. However, it is important to consider how his experience while working in Texas influenced his opinion. The findings are state-specific since they reflect the views of accounting experts who is based on Texas. It is also worth noting interviewee’s reluctance in answering the question regarding the strengths and weaknesses associated with the LLC business form, which he considered the best.