EA Exam Prep Series (Currently Unavailable)

This is the first class of the EA Exam Prep Part 1 series. Join TaxMama® as she takes you on a tour of the various tax returns, and their supporting documents, for the individual filer. Learn the common errors that are made on the returns while gathering invaluable tips on various preparation areas. Touch on the various changes made by the Tax Cuts and Jobs Act – especially the “postcard” tax return and the new tax schedules 1 through 6. Answer pressing questions such as: How has the Tax Cuts and Jobs Act changed the way individuals file returns? What do you do if the information on the W-2 or 1099 is wrong? Which is better – an above the line deduction or filing a Schedule A? What are the basic concerns for individual returns?

This is the second class of the EA Exam Prep Part 1 series. In this course, we discuss some of the fundamental concepts of individual tax returns. First, we take a look at the personal exemption amount, and learn when the phaseout begins for both it and itemized deductions. Then, we learn when taxpayers have to file a return, seeing where the rules are different for dependents and non-dependents. We review at the different 1040 tax forms, comparing them and determining which is best for the client. Filing statuses are covered, discussing the issues relating to Head of Household and Married Filing Separately. In addition to this, we touch on resident aliens, learning the resident alien test. Finally, we revisit personal exemptions, learn the tests relating to qualifying relative and qualifying child dependents, and discuss other issues related to qualifying dependents, such as temporary absences and divorce issues.

This is the third class of the EA Exam Prep Part 1 series. Is it true that you have to claim as income the gift certificate that your client gave you? What about the local landscaper who is paying for summer help “under the table?” What should you do about the investment income belonging to the child of your client? TaxMama® knows! In this information-packed course, she will teach you the difference between the various forms of income and how to report them. Learn the difference between earned and unearned income, taxable and non-taxable income, and what is and is not reportable.

This is the fifth class of the EA Exam Prep. Part 1 series. In this TaxMama® produced course, Susan discusses the various adjustments to income and how they affect taxes. Answer questions such as: Which is better, an adjustment or itemized deduction? What expenses can educators deduct? What are the special rules for employee business expenses? What about retirement and HSA accounts? What’s up with lines 34, 35, and 36? Susan clears up the cloudiness surrounding adjustments and sheds light onto lines 23 through 36 of Form 1040. Your understanding of adjustments will reach new heights using her bonus tips and insight.

This is the sixth class of the EA Exam Prep. Part 1 series. In this TaxMama® created course, Susan pilots you through the vast topics of tax credits and other taxes. Get an in-depth look at individual tax credits (refundable and non-refundable), AMT, Kiddie Tax, various taxes, and much more. This course covers a multitude of tax forms, including Form 4137 (Unreported Tips), Form 8919 (Misclassified Employees), and many others.

This is the fourth class of the EA Exam Prep Part 1 series. Itemize or take the standard deduction? What about employee business expenses? Now that The Tax Cuts and Jobs Act has been enacted, TaxMama® will explain the many changes, and challenges, the law created for individual filers. Find out when it is better to take the standard deduction. Learn pros and cons of itemizing. Explore the various itemized deduction line items and get tips on each one.

This is the seventh class of the EA Exam Prep. Part 1 series. This is a hands-on course in preparing a sample tax return. The primary source of income for this married couple is social security, but other details affect their tax return. TaxMama® discusses the specifics behind each piece of information needed to complete an accurate return. Use your detective skills to identify missing information. Learn about constructing a critical component to tax preparation - the client question list. Get tips on tax preparation software.

This is the eighth part of the EA Exam Prep. Part 1 series. This is a hands-on course in preparing a sample tax return. The married couple, with a dependent child, have various details that affect their tax return. TaxMama® discusses the details behind each piece of information needed to complete an accurate return. Use your detective skills to identify missing information. Learn about constructing a critical component to tax preparation - the client question list. Get tips on various tax preparation software.

This is the ninth class of the EA Exam Prep. Part 1 series. This is a hands-on course in preparing a sample tax return. TaxMama® discusses the details of this married couple’s complex return. Use your detective skills to identify missing information. Learn about constructing a critical component to tax preparation - the client question list. Get tips on various tax preparation software.

This is the tenth class of the EA Exam Prep. Part 1 series. “In this world nothing can be said to be certain, except death and taxes.” - Benjamin Franklin Grieving over estates and gift taxes? TaxMama® is here to ease your fears. Shed light on the back stories of estate and gift taxes, and delve into the details of each. Take an in-depth look at Forms 706 and 709. Get answers to common questions such as: What comprises a gross estate? What happens to a decedent’s retirement plan? What about jointly owned property? When does a gift tax return need to be filed? What about the taxes?

This is the eleventh class of the EA Exam Prep Part 1 series. Are you struggling with the basics of basis? Do you know what to do if your client has lost the purchase details of an asset? What happens when a building is demolished or modified? When is basis not equal to cost? Join TaxMama® for everything you ever wanted to know about basis but were afraid to ask. Learn when to expense and when to capitalize. Find out the basic components of basis. Discover the details on adjustments to basis, and more!

This is the twelfth class of the EA Exam Prep Part 1 series. Don’t be depressed over depreciation. Write off those fears with guidance from TaxMama®. Begin with an understanding of how and why depreciation was created. Learn about the different depreciation methods and when to use each. Recognize the difference between depreciated assets and amortized assets. Learn how to complete Form 4562. Gain insight of Section 179, and more.

This is the thirteenth class of the EA Exam Prep Part 1 series. In this course, TaxMama® with teach you the ins and outs of capital gains and losses. She’ll discuss the rules of qualified small business stock. Learn how to handle investment gains and losses. Understand capital gains and losses. These, and many other topics, will be examined in this information-packed course.

This is the fourteenth class of the EA Exam Prep Part 1 series. Is it a sale? Is it an exchange? Let TaxMama® teach you the difference. Explore Form 1040 Schedule D and Form 8949 in detail. Learn how to handle installment sales. Understand how to deal with issues relating to primary residences. Find out what happens when a primary residence is converted into a rental, and vice versa. Learn about the changes to casualty and theft losses and Form 4684.

This is the fifteenth class of the EA Exam Prep Part 1 series. In this TaxMama® created course, you’ll learn about international taxation issues. Susan will take you through the rules for international taxpayers. Learn about which forms are required and how to complete them. Find out the difference between the foreign tax credit and foreign earned income exclusion, and more. You’ll come away equipped to provide the best advice to your international clients.

This is the first class of the EA Exam Prep Part 2 series. Which business structure is the best for your clients? Why do I need to know accounting? Join TaxMama® and sift through the details of business entities. Learn about pass-through entities and how they affect the taxpayer. Discover when choosing a C Corporation over a S Corporation is best. Analyze partnerships, sole proprietorships, LLCs, PSCs, and more.

Download and review the four final reviews for the EA Exam Prep Part 1. These resources will help review the key concepts covered in the EA Exam Prep Part 1.

This is the second class of the EA Exam Prep Part 2 series. If accounting isn’t your strong suit, never fear - TaxMama® is here to help. Review the key financial statements (Balance Sheet, Profit and Loss), and the accounts listed on them, and learn why they are important to the business tax return. Find out the profit pitfalls. Discover why the proper classification of expenses matters. Contrast cash and accrual methods of accounting. Learn these topics, and more, in this information-packed course.

This is the third class of the EA Exam Prep Part 2 series. What is income? When is income not really income? Is the money from a GoFundMe account taxable? Join TaxMama® as she teaches you about taxable income transactions. Learn what to do if Form 1099 is wrong. Understand the timing of claiming income. Find out why, and when, disclosure statements are a must. These topics, and many others, will be discussed in this content rich course.

This is the fourth class of the EA Exam Prep Part 2 series. How do I handle listed property? Can I travel first class to a conference? When it comes to business deductions, some expenses leave you with more questions than answers. TaxMama® teaches you how to decipher those expenses, and many other deductions. Review common business expenses such as office expense, repairs and maintenance, taxes, insurance, and more.

This is the fifth class of the EA Exam Prep Part 2 series. Wishing you could work in your fuzzy slippers and comfy jammies? Have a client who insists on using their home for work? This is the course for you! Join TaxMama® as she opens the doors to the details involved when someone has an office in their home. Discover the advantages, and disadvantages, of this type of setup. Learn the rules, requirements, and red flags for home offices. Have another business location? Find out if you can still take this deduction. Inspect every square inch of this area.

This is the sixth class of the EA Exam Prep Part 2 series. In this course, get hands on in preparing a Form 1040 Schedule C, and related forms, with guidance from the one and only TaxMama®. Review each piece of information provided to ensure accuracy. Interpret the data and look for inconsistencies, oddities, and other issues. Discover where Schedule C information originates. Find out which other tax forms are affected by Schedule C entries. Review each part of the Schedule C. Don’t just learn to prepare it, but learn to prepare it in the best way possible.

This is the seventh class of the EA Exam Prep Part 2 series. What is a partnership? Are husbands and wives in business together automatically partners? If you have questions about partnerships, and even if you don’t, join TaxMama® for an extensive overview of the basics of partnerships. Find out the importance of a partner’s basis. Learn when entities automatically default to a partnership. Discover which entities are not eligible to be partnerships, and more.

This is the eighth class of the EA Exam Prep Part 2 series. Partnership transactions can be complicated. But with TaxMama®, you’ll always have an “in” to the information you need. Cover everything from getting started in a partnership to getting out of one. Learn the pitfalls of some partnership agreements. Find out the importance of basis, both for the partner and partnership. Discover disguised sales, what to do about basis, and more.

This is the ninth class of the EA Exam Prep Part 2 series. Benjamin Franklin’s famous quote about death and taxes even applies to exempt organizations. While most pay no taxes, there are rules in place to collect tax under certain circumstances. In this TaxMama® created course, Susan explains what they are and delves into the other areas of these unique entities. Discover the types of exempt entities, the application process, what it takes to keep tax exempt status, filing requirements, and more.

This is the tenth class of the EA Exam Prep Part 2 series. In this TaxMama® created course, Susan plants the seeds of knowledge about farming. Discover why it is important to distinguish between farming as a business and farming as a hobby. Cultivate your knowledge of the various farming areas, such as livestock, racehorses, marijuana, timber, and more. Learn about filing requirements, farm employees, and other areas.

This is the eleventh class of the EA Exam Prep Part 2 series. : In this course, TaxMama® guides you through the preparation of a partnership return, Form 1065, and provides tips and suggestions for each section. Evaluate the sample information to determine what, if anything, is missing, check the data for discrepancies, identify which tax forms to use, and more.

This is the twelfth class of the EA Exam Prep Part 2 series. Estate and Trust taxes are complicated. Let TaxMama® uncomplicate them for you. Start with the basics. Get to know the various terms for trusts and estates. From there, move into the building blocks of trusts. Review the different types of trusts. Discover the difference between a simple and a complex trust, as well as many other trust related details. Discover the intricacies of estates. Once that foundation is built, delve into the area of tax preparation, with specific instructions, attention to details, explanations, and more.

This is the thirteenth class of the EA Exam Prep Part 2 series. Many believe that taxation of corporations is complex. Not TaxMama®. In this course, she provides a straightforward discussion of the various areas of corporate taxation. Learn the difference between business formed before 1997 and those formed in 1997 and beyond. Get answers to questions such as: How do you treat property exchanged for stock? What does “control of a corporation” mean? What forms need to be filed? What about other business forms that convert to corporation status? How do I determine “reasonable compensation?” Review current tax law changes, and more.

This is the fourteenth class of the EA Exam Prep Part 2 series. In this course, you’ll try your hand at preparing a Form 1120, U. S. Corporation Income Tax Return and associated forms and schedules. With the help of TaxMama®, you’ll learn helpful hints and tips for preparing the return. Start with an analysis of the client information. Did they provide everything you need? Does something look out of place? Where would you find missing information? Take on depreciation calculations. Analyze “what-if” scenarios, and more. Once complete, use the return data for tax planning.

This is the fifteenth class of the EA Exam Prep Part 2 series. What’s so special about S Corporations? TaxMama® knows, and she shares it with you in this information packed course. Learn the unique characteristics of the S Corporation. Find out the pros and cons of making the S Corporation election and the requirements to keep it. Review deductions, including special rules for fringe benefits for shareholders. Learn about separately, and non-separately stated, items. Discover the four times a S Corporation is subject to income taxes, and more. TaxMama® also tells you one very big plus to electing S Corporations over C Corporations.

This is the sixteenth class of the EA Exam Prep Part 2 series. Use your knowledge from the S Corporation course to prepare Form 1120S and associated schedules for a grocery store. TaxMama® reviews the process with you and provides tips for each step. Analyze the information to determine if it is complete and correct. If not, what remedies are available? As you prepare the return, learn the red flags that may trigger audits. Discover how information flows between forms, and more.

This is the seventeenth class of the EA Exam Prep Part 2 series. Join TaxMama® for an in-depth discussion about retirement plans. Start with the basics, such as the types of plans, who may contribute, etc. Move into the details of the various plans, such as 401(k), SEP (Simplified Employee Pension), SIMPLE (Savings Incentive Match Plan for Employees), and more. Learn the difference between qualified and non-qualified plans. Find out filing requirements, restrictions, and other limitations. Discover what happens when excess contributions are made. Define prohibited transactions. This course also discusses options for self-employed individuals.

Download and review the five final reviews for the EA Exam Prep Part 2. These resources will help review the key concepts covered in the EA Exam Prep Part 2.

This is the first class of the EA Exam Prep Part 3 series. This course will provide an overview of Circular 230, or the Tax Professional’s Bible. Get a preview of responsibilities of Enrolled Agents. Learn the definition of “practice before the Internal Revenue Service” and who may practice. Discover the role of the IRS Office of Professional Responsibility (OPR). Get answers to questions such as: What’s the difference between the Office of Professional Responsibility and the Return Preparer Office? What about the Annual Filing Season Program? How many continuing education credits do I need? What about unenrolled preparers? TaxMama® also provides you with information that is no longer found on the IRS website, and more. As with all TaxMama® courses, her invaluable insight and wisdom are an added bonus!

This is the second class of the EA Exam Prep Part 3 series. There is a lot to consider when it comes to e-filing. From the various roles of individuals to filing requirements and more. TaxMama® will break it all down for you. Begin with a discussion about cybersecurity and why protecting your data is so important. Get tips on how to protect yourself, your clients, and your business. Find out what to do about all the paperwork in your office. Review the legal side of protecting client information and the Gramm-Leach-Bliley Act. Learn about IP PIN numbers, CAF numbers, TIN numbers, EIN numbers, and other identifying information. Take a look at the various online information systems available, such as Electronic Federal Tax Payment System (EFTPS), Transcript Delivery System (TDS), and the new Secure Object Repository (SOR). These are just a few of the areas that this information packed course provides.

This is the third class of the EA Exam Prep Part 3 series. Don’t turn away a potential client because they haven’t filed their returns. Instead, use what you learn from TaxMama® to become their hero. Learn the two types of non-filers. Discover the best approach to working with each type and when to step away. Find out how to access information for these types of clients, and what your first steps to represent them should be. Cover the scope of the engagement, red flags, what to do if you accept the client, what to do if you reject the client, forms necessary for representation, and more.

This is the fourth class of the EA Exam Prep Part 3 series. It happened. Your client received a letter from the IRS. While they panic, you remain calm, because TaxMama® has equipped you to deal with this situation. In this course, take an in depth look at audits, how to handle them, and your role as an Enrolled Agent. Walk through the process of the examination of a return. Learn about audit triggers, resources to assist you, what the IRS wants, practice tips, and more. Find out what to do if your client agrees, or disagrees, with the proposed changes. Discover how to stop interest from accruing, how to get interest abated, and why you should use deposits.

This is the fifth class of the EA Exam Prep Part 3 series. Whether you’re preparing a return or representing a client before the IRS, research is a necessary skill to effectively do either. In this course, TaxMama® reviews how to become an effective tax researcher. Discover how research is used in tax return preparation and in representation. Learn about various resources available for research. Discuss the Internal Revenue Code, how it is created, and how it applies to everything you’ll do as a tax preparer. Learn how to cite various sources. Get familiar with the Freedom of Information Act and how to use it, and more.

This is the sixth class of the EA Exam Prep Part 3 series. In this TaxMama® created course, you’ll learn about the price paid for violating the rules and the law. From taxpayer penalties to preparer penalties, each will be explained. Find out when an infraction becomes a criminal act. Learn when it is permissible to charge contingency fees. Discuss type of misconduct and their repercussions. Discover when penalties can extend to employers, firms, and partners. Review various audit scenarios, and more.

This is the seventh class of the EA Exam Prep Part 3 series. Regardless of your audit experience, this course by TaxMama® is a must for anyone who works, or is considering working, in the area of audits. Begin with an understanding of why audits occur, what information is sought, and how they start. Learn the first thing you should do to prepare for the audit. Review the various forms and Proof of Cash Report that will be a part of the process. Learn how to interpret Form 4549, Income Tax Examination Changes, which will be provided by the auditor. Review the 30-day letter and 90-day letter and how to respond to each. If the end result is a balance owed, find out how to reduce it. Review a sample audit, analyze the information, and more.

This is the eighth class of the EA Exam Prep Part 3 series. Successful appeals require a thorough understanding of both the law and the process. In this course, TaxMama® explains what happens during an appeal, how to prepare for one, and what to do if you’re unsuccessful. Re-examine information contained in the 30-day letter. Find out the first steps you should take, what to expect, and more. Learn about the Fast Track Settlement process, types of audit settings, written protests, small case requests, and other considerations. Find out when you can recover appeal costs and what to do if your efforts were not successful.

This is the ninth class of the EA Exam Prep Part 3 series. In this course, you will learn the various aspects of collections. TaxMama® will explain the rules, payment options, and more. Have a look at the contents of the Internal Revenue Manual, Part 5. Get details on the process from start to finish. Learn when to use an Offer in Compromise and when an Installment Agreement is needed. Find out what to do if a lien or levy is placed. Discuss innocent spouse relief, strategies, and other areas of the collections process.

This is the tenth class of the EA Exam Prep Part 3 series. Tax Court. Just the name can send shivers up the spine of some practitioners. Let TaxMama® ease the fears. Start with an understanding of the three courts that hear tax cases. Learn who is eligible to practice before the Tax Court. Review the Tax Court Exam criteria. Find out the types of cases eligible to be filed in the Tax Court and the small tax case procedure. Discuss redetermination of interest, refunds or credits of overpayments, and more. Finally, take an in depth look at specific tax cases and the details of each.

This is the eleventh class of the EA Exam Prep Part 3 series. What happens if a client cannot pay the taxes due? Find out the options from TaxMama®. Review payment options, how to file for them, and keywords that are used when considering these choices. Learn the various forms necessary to file for an Offer in Compromise, how to complete them, and what you need to consider when doing so. Discover when a client is ineligible to file for an Offer in Compromise. Discuss strategies for analyzing client information and more. And, take a comprehensive look at three sample clients from analysis of their information to the final decision of which option to choose.

Download and review the four final reviews for the EA Exam Prep Part 3. These resources will help review the key concepts covered in the EA Exam Prep Part 3.

This provides access to the Lambers Exam Prep Software. For examination period May 1, 2019 to February 29, 2020.

This provides access to the Lambers Exam Prep Software. For examination period May 1, 2019 to February 29, 2020.

This provides access to the Lambers Exam Prep Software. For examination period May 1, 2019 to February 29, 2020.