Should I renew my CPA license?
I’m feeling uncertain about whether to renew my CPA license. It’s currently active and up for renewal in May, but since transitioning from industry to teaching Accounting at a community college, I haven’t been practicing. I’m contemplating whether to complete the remaining units to keep my license active or let it become inactive. I don’t foresee myself practicing anytime soon, and I believe I could reactivate my license later by obtaining the 80 units if needed. One of the main reasons I’m considering letting it lapse is the cost associated with renewal and the required units.
I’d appreciate any advice you might have.
Just to note, I’m licensed in California.
2 Responses
It sounds like you’re at a crossroads with your CPA license, and it’s definitely a decision worth careful consideration. Here are a few points to think about that might help you make your choice:
Future Career Plans: Since you don’t foresee practicing as a CPA in the near future and are happy in your current teaching role, it might make sense to let your license become inactive. This could save you money and effort in maintaining the required units.
Cost vs. Value: Weigh the costs of renewal and continuing education units against the benefits of keeping your license active. If you don’t anticipate using it in your teaching career, the cost may not justify the benefits.
Reactivating the License: You mentioned that you can reactivate your license later with the necessary units. Check to ensure that the process, requirements, and any potential fees for reactivation haven’t changed or won’t be burdensome when you decide to do so.
Teaching Considerations: Consider whether maintaining an active CPA license adds value to your teaching role or enhances your credibility as an instructor. If your institution values CPA licensure in faculty members, you might want to keep it active.
State Regulations: Since you’re in California, be sure to familiarize yourself with the specific rules regarding inactive status and reactivation. Sometimes there can be implications you might not be aware of.
Ultimately, if you’re confident in your path as an educator and don’t foresee needing the license soon, it may be practical to let it become inactive. Good luck with your decision!
It’s a pivotal decision you’re facing, and it’s great that you’re considering the implications carefully. While it’s true that you can reactivate your CPA license later on, there are several factors to weigh beyond just the financial aspect and the required units.
1. **Value of the License**: Even if you’re not practicing in the traditional sense, having your CPA license can still enhance your credibility as an educator. It might open doors for guest speaking, consulting, or even collaborative projects that rely on professional certification.
2. **Continuing Education**: If you decide to maintain your license, the CPE (continuing professional education) units can also be a learning opportunity, allowing you to stay updated with the latest industry practices and regulations. This knowledge can enrich your teaching and benefit your students.
3. **Future Opportunities**: Consider where you might want to be in a few years. The Accounting landscape is always evolving, and market needs can shift dramatically. If you decide to return to practice, having an active license will facilitate that transition.
4. **Networking**: Keeping your CPA active may help you stay connected with the Accounting community, which can be invaluable regardless of your current position in academia.
Ultimately, the decision should reflect not just your current situation but also your long-term career aspirations. If the cost and effort of renewal feels burdensome right now, perhaps a conversation with colleagues or a mentor in both the Accounting and academic fields could provide further clarity. Best of luck with your decision!