User talk:Marcellah
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EA Exam
Hi Marcellah,
I sat for and passed the EA exam in Sept of 2005. It was the old format, four parts over two days and you could only take it once a year. I know the frequency is different know and the format was re-worked also I believe. Kevin was apart of small group of EAs that had input in the creation of the new test, you should drop him a line and see what he can offer.
I had basically never prepared a return in my life when I took the exam. I did have a somewhat strong accounting background which certainly helped. My preparation for the exam was to spend the 5 weeks before the test studying the last four years of tests. I bought a compilation of them on-line that provided the questions in a 'flash-card' format. I spent a week on each section, every day I would take all four years of that weeks section. On the last week I devoted a day to each of the last four years and was scoring +80% on each section. Lastly I pulled the Cir. 230 and related publications dealing with ethics and procedures on the last day. As another poster mentioned, ethics/procedure is the easiest section because it relies on common sense and professional norms a lot.
I see you graduated from PSU, are you still in Oregon? I am just building my practice also and would be open to brainstorming/chatting with you about the business sometime this summer. Would also like to know how you do and what it's like to take the new test. Best of luck.
William Price, EA | Portland, OR - Talk to me
HRB
I think you asked for the spreadsheet, but didn't leave me your email address....
LLC in PA
From my reading it sounds like this is a SMLLC: in these cases, what must be filed besides a PA-40 reflecting the rental income would be the PA RCT-101, PA Corporate Return where you can use the figures from the Sch E for the profit and loss, but you have to create a balance sheet. Note that on the RCT 101 there is a spot on Page 3 I believe where you check that it is a LLC.
If this were a MMLLC, then you would file the PA20S to reflect the partnership and the RCT-101.
Death&Taxes 13:15, 28 March 2008 (CDT)
