Discussion:Hello from TAXZ

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Discussion Forum Index --> User Introductions --> Hello from TAXZ


TAXZ (talk|edits) said:

5 March 2010
Hello, I'm a paid preparer with a few seasons of experience. I want to take the EA test this year, and think Part 1 shouldn't be too difficult. Parts 2 and 3, on the other hand, contain subjects I don't face on a regular basis since I prepare mostly returns for individuals with an occasional self-employed situation. What other resources can I use to prepare for these, in particular Part 2, beyond the exam preparation books?

Trillium (talk|edits) said:

5 March 2010
Hi, Taxz - you might take a look at some of the discussions on the Business Growth/Practice Management Forum. During the summer and fall, especially, there are often quite a few with recommendations that go beyond study guides to outside resources like books and other materials, and also study processes that have worked for people.

Over the past few days, we've been getting some EA exam prep spam - so if that happens here on your discussion, please let me know so that I can get rid of it. Thanks!

TAXZ (talk|edits) said:

6 March 2010
Hi, Trillium, thanks for the info! It looks like just what I had in mind.

TAXZ (talk|edits) said:

16 November 2011
update: I'm thinking of doing some taxes on my own this season. My starting year goal would be a modest 100 or so returns for individuals. I have several seasons of paid preparer experience. What are the most important things to take care of, especially from a legal standpoint, to start your own tax prep business? How much does the IRS ETIN application cost? Is there a national competency test that I must take before the tax season? And do you have to be an enrolled agent? I won't be able to take the EA exam until next spring.

DGTax (talk|edits) said:

16 November 2011
Hi Taxz - I'm guessing a lot of this dependent upon on which state you plan to practice in. I'm not an EA either, but here in CA there is a test that I must pass each year, along with some yearly CPE requirements in order legally operate as a paid preparer. (although, in my opinion, the minimum CPE requirements aren't nearly enough) I can see from your profile that you're not located in OR or CA, but you may want to check in with the Franchise Tax Board for your state. The CA Franchise Tax Board website has a lot of info dedicated to tax professionals, and it outlines the requirements for paid preparers in CA. Perhaps your state's website will provide similar information (testing requirements, bond requirements, etc.)

TAXZ (talk|edits) said:

17 November 2011
I'm in Washington state. Searching online, I haven't noticed any WA state requirements yet. When I worked for a franchise, they would administer a short test each year in late December. Is there a federal competency test? I read a news article that the IRS is requiring a "competency test" and 15 hours annual continuing education. Where does a self-employed preparer take the test and 15 hours edu? I don't need any further education for this year since I just completed an H&R Block course.

TAXZ (talk|edits) said:

17 November 2011
I have a few legal questions for a self-employed tax preparer. Is sole proprietorship sufficient or do you need the protection of LLC and is there a fee for it? Is there a good resource, other than paying a lawyer, for writing a privacy policy? Also, what do self-employed preparers offer along the lines of franchise "peace of mind" or "gold guarantee" offerings (up to $5,000 reimbursement for disallowed refunds or penalties and interest)?

AvaTaxGirl (talk|edits) said:

30 November 2011
Hello everyone! I am calling myself AvaTaxGirl, since I am just starting out in the world of taxes, so to speak. I work for Prior Tax, an online company that specializes in helping people file taxes from past years. My specialty is actually to enhance their resources, where people can go to have questions answered, and get referred to the proper forms and gov websites. That's why I am here! To learn from all of you brilliant tax minds! Happy to be part of the community!

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