Accounting
Virginia’s alternative CPA pathway opens new doors
Accounting is no longer a profession defined by a single, rigid path to success. Over the years, I have witnessed a growing number of students—some who started out studying dance, music or other creative disciplines—make a late pivot into accounting. It might seem like an unexpected switch, but there’s a reason for it: new licensing pathways, such as the one recently introduced in Virginia, are opening doors to people who discover their passion for numbers later in life.
I’ve taught accounting to dancers who have mastered the discipline of daily training and musicians who have honed their capacity to perform under pressure. They may not fit the classic accounting stereotype, but they bring intangible qualities that can’t be taught in a lecture: a flair for creative problem-solving, a strong work ethic and the ability to view challenges from unconventional angles. These students don’t just think outside the box; they question why the box was there in the first place. In today’s data-driven world, that kind of fresh perspective is exactly what accounting firms and financial organizations increasingly value.
Virginia’s newly adopted CPA licensure pathway serves as a model for how practical experience can be every bit as valuable as classroom hours. Instead of requiring the traditional 150 credit hours, the state now allows CPA candidates with a bachelor’s degree and required accounting coursework to sit for the exam after two years of relevant work experience. This marks a fundamental shift: real-world practice becomes an acceptable substitute for a stack of transcripts.
For those coming from dance, music or any field that didn’t pile on extra elective credits, this alternative pathway is a lifeline. It acknowledges the reality that many talented people cannot afford another year of tuition—or don’t see the value in additional classes—when they can gain equally meaningful learning and skill development on the job.
This approach is more than just convenient for career changers; it is also a strategic decision for the accounting profession. At a time when traditional college enrollments are declining, welcoming people from different educational backgrounds broadens the talent pool and provides companies with new perspectives.
Businesses today need more than just double-checked spreadsheets; they also expect forward-thinking strategies, creative analytics and big-picture thinking. Dancers, for example, understand how to adjust under pressure and perform with precision, whereas musicians may recognize patterns and rhythms that others may miss. Their varied life experience frequently results in innovative client engagements and creative solutions to challenging financial problems.
Critics may worry that easing academic prerequisites will dilute professional standards. Yet the crux of a CPA’s qualification isn’t the credit count—it’s mastery of the exam and proven competence in real-world practice. Virginia’s new model does not hand out shortcuts; it simply places more weight on verifiable experience and less on academic seat time. This recalibration maintains the profession’s standards while making it more accessible to a larger group of motivated, capable individuals.
Virginia’s legislative approach demonstrates how the accounting sector can grow while maintaining quality and credibility. By embracing different educational paths, the profession acquires fresh energy and resilience—qualities that are critical in today’s quickly changing global economy.
We should welcome the state’s willingness to rethink the CPA pipeline. In doing so, Virginia sends a clear message: the future of accounting belongs to individuals who are willing to push the profession’s boundaries. Dancers, musicians, engineers and anyone else who develops a renewed love of numbers will have a brighter future.
Sarah Pabst/Photographer: Sarah Pabst/Bloomb
Treasury Secretary Scott Bessent said Republicans are looking at all options to help pay for President Donald Trump’s campaign promises on tax cuts, including increasing levies on the wealthiest Americans.
“We’re going to see where the president is” on the issue, Bessent said in an interview during a trip to Argentina Monday. “Everything’s on the table.”
Bessent said he and his counterparts in the administration and on Capitol Hill are working toward a “refinement portion” of legislation that would extend and potentially expand Trump’s 2017 tax cuts — many of which are set to expire at year-end.
“We’ve got broad agreement and we’re going to go from there,” Bessent said at the US ambassador’s residence in Buenos Aires.
Bloomberg reported earlier this month that Republicans were weighing the creation of a new bracket for those earning
Bessent has said that he is working to expand the 2017 cuts to include no taxes on tipped wages and overtime pay, and a new benefit for Social Security recipients. He also said he wants to give people the ability to deduct the interest payments on their auto loans.
The Treasury chief was visiting Argentina to show support for the country after it received a new round of IMF funding last week. He earlier announced that the US would start trade negotiations with the country, after meeting with President Javier Milei and Economic Minister Luis Caputo.
There are a great accounting firms of all sizes all over the country, but if you had to pick a capital for the profession, it would probably have to be New York City.
Of all the states in the country, New York hosts the headquarters of the most
Two-fifths of the state in the union host no large-firm headquarters — but that’s not to say those states don’t have representation. The Big Four firms have offices all across the country, as do many of the 12 other firms with over
A majority of Americans don’t know that their taxes are about to increase.
According to Cato Institute’s
The TCJA was passed by a 51 to 49 Senate vote on Dec. 2, 2017, and signed into law by President Donald Trump during his first term on Jan. 1, 2018. The overhaul to the Tax Code decreased the tax rate for five of the seven individual income tax brackets, raised the standard deduction, suspended the personal exemption, removed a mandate requiring individuals to purchase health insurance under a provision of the Affordable Care Act, and raised the child tax credit and created a nonrefundable credit for non-child dependents, among other things.
Mike Theiler/Bloomberg
Part of the unawareness surrounding the expiring tax cuts is simply due to familiarity. Only 9% of people are very familiar with the TCJA, 28% say they know a moderate amount about it and 34% say they know nothing.
When respondents learned that the TCJA will expire, 53% said that Congress should either make the cuts permanent (36%) or extend them temporarily (17%). Only 13% said they wanted Congress to let the tax cuts expire, and 34% didn’t know enough to say.
Respondents’ support for extending the tax cuts increased when they learned that the average person’s taxes will increase between $1,000 and $2,000 a year — 57% said to make the tax cuts permanent, and 28% said to extend them temporarily.
Eight in 10 respondents say they worry they cannot afford to pay higher taxes next year. But only 45% expect their personal tax bill to increase, while 5% expect it to decrease and 23% think it will stay the same. Twenty-six percent don’t know what will happen.
Respondents were split on whether they thought the U.S. can afford the tax cuts: 45% said the U.S. can afford to make the TCJA permanent, 21% said the country cannot afford to do so and 34% said they don’t know.
However, 51% felt their taxes were handled fairly, while roughly half of respondents think their taxes are too high (55%) and believe their tax bill exceeds their fair share (55%).
The Cato Institute is a libertarian public policy think tank based in Washington, D.C. It surveyed 2,000 Americans from March 20 -26 for the report, in collaboration with YouGov.
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