The special enrolled examination that’s completed to obtain EA certification contains several questions about the income tax affect of debt cancellation. Forgiven debt is usually taxable. But there are exceptions.
Monday, 30 January 2012
Miscellaneous Taxable Income – What Is It?
As more tax revenue is sought to alleviate the growing US government budget deficit, the IRS is working to assure reporting of income from all sources—including miscellaneous income.
New Reporting for Securities Sales in 2011
Starting in January 2011, brokerage firms must begin tracking the cost basis and holding period of sold securities. This information will then appear on every Form 1099 along with sale proceeds that is issued for the 2011 tax year.
Property Received as a Gift vs. an Inheritance, Uncle Sam Still Gets a Piece
When taxpayers receive property by ways other than purchase, some complex tax events are triggered. There are various taxes affecting transferred property. In addition, some important record keeping is required by recipients of transferred property. A registered tax agent is usually beneficial at sorting out the correct tax consequences for property received as a gift.
Choosing the Right Tax CPE Course Matters
The number of providers of web-based enrolled agent CPE has more than tripled over the past 15 years. Thousands of enrolled agent courses are now available online, many instantaneously, offering EAs and other tax professionals convenient and cost-effective options for meeting their continuing education tax requirements.
Choosing the Right Tax CPE Course Matters
The number of providers of web-based enrolled agent CPE has more than tripled over the past 15 years. Thousands of enrolled agent courses are now available online, many instantaneously, offering EAs and other tax professionals convenient and cost-effective options for meeting their continuing education tax requirements.
Becoming a California Tax Preparer via the California Tax Education Council (CTEC)
A preparer of tax returns in California is required to obtain special certification with the state. The California Tax Education Council (CTEC) administers the registration of tax preparers who are not attorneys with the state bar association, licensed with the state as certified public accountants, or registered with the Internal Revenue Service as Enrolled Agents.
Gambling as a Business Activity
The Internal Revenue Service requires the reporting of gambling winnings as income. Gambling losses are tax deductible for taxpayers who itemize deductions.
Help With Alternative Minimum Tax Considerations
The Alternative Minimum Tax (AMT) is both dreaded and misunderstood by those who are subjected to it. An increasing number of individuals are conducting an enrolled agent search to address the AMT.
How an Enrolled Agent Helps You Settle With the IRS
The work of enrolled agents involves many types of tax responsibilities. These professionals can prepare tax returns and provide advice about compliance with IRS rules.
Tax Impact of Moving Expenses
Taxpayers who move to a new location and start a new job are eligible for a tax benefit. They don’t need to itemize deductions in order to obtain an adjustment that lowers their taxable income.
The Changing Face of Continuing Professional Education (CPE)
If there was ever any doubt about how much tax Continuing Professional Education has changed, and how quickly change is happening, just take a quick look at a tax CPE course catalog from a few years back.
Balancing Act: In-house & Outside Tax Continuing Professional Education (CPE)
Continuing Professional Education, known as CPE, is a requirement to continue practicing in most professions.
Building an Efficient Tax Preparer Practice
A practitioner should create a business plan that will allow them to run an efficient practice for themselves and their clients. By doing so, a tax preparer professional can improve their business operations to maximize profits.
IRS Taxpayer Identification Issues
A frequent cause of IRS notices is a mismatch of the name and social security number for a dependent on a tax return. Resolving these situations may require the assistance of a professional with EA certification. Failure to list the correct SSN will cause the IRS to disallow an exemption for that dependent.
Online CPE Versus Traditional Courses for Tax Professionals
When Ben Green enrolled in an online EA CPE course at the last minute, he wasn’t expecting much: “I needed some quick credits, and had procrastinated to the point where my license was in jeopardy. So I took the advice of a colleague and signed-up for a web-based course.” What the enrolled agent from Tucson,
Online TAX Continuing Education Earn High Marks
Online continuing education has become all of the rage in the past few years. In 2005, the percentage of professionals seeking to improve their skills and knowledge by supplementing classroom training with online instruction was 43 %, according to Tammy Galvin, executive editor of Training Magazine.
State Licensing Requirements Income Tax Professionals
In addition to federal requirements for income tax professionals, several states have distinctive licensing laws. These rules affect tax practitioners operating within a particular state and, in some cases, anyone preparing a tax return of that state.
Tax Relief for Spouses
Some individuals are surprised to learn that the tax calculated on a joint tax return is a liability of each of spouse separately. This causes problems when one spouse underreports income and then skips away.
The NAEA – A Leader in Continuing Professional Education (CPE)
The National Association of Enrolled Agents (NAEA) is the national association representing the nearly 12,000 independent, licensed enrolled agents (EAs) that operate across the country.
What’s Your Tax Continuing Professional Education (CPE) Strategy?
Anecdotal evidence suggests that a good number of tax professionals, like CPAs and enrolled agents, are less excited about CPE—Continuing Professional Education—today than they were 10, even 5, years ago.
Tax Impact of Transferring Stocks
Transfers of stock have important tax implications that often require the assistance of enrolled agents.
Active Participation vs. Material Participation
The IRS requires income tax on all profitable activities but can limit the deduction of losses. These limitations are imposed on passive activities.
Agricultural Income – Tax Consequences From Agricultural Operations
Many individuals have tax consequences from agricultural operations even when this is not their primary source of income.
A Primer on Depreciation
Depreciation is a tax accounting method for deducting property cost over several years instead of the counting the entire amount as an expense at the time of purchase. Taxpayers deduct the cost of capital expenditures over the useful life of the property.
Enrolled Agent Blog: An Overview of Payroll Taxes for Small Businesses
One of the most common conflicts small businesses encounter with the IRS involves payroll taxes. This area is an important aspect of enrolled agent work to help employers accurately determine payroll taxes, avoid late payment, and abate penalties that arise for delinquencies.
Tax Impact of Moving Expenses
Taxpayers who move to a new location and start a new job are eligible for a tax benefit. They don’t need to itemize deductions in order to obtain an adjustment that lowers their taxable income.
Gambling as a Business Activity
The Internal Revenue Service requires the reporting of gambling winnings as income. Gambling losses are tax deductible for taxpayers who itemize deductions.
How an Enrolled Agent Helps You Settle With the IRS
The work of enrolled agents involves many types of tax responsibilities. These professionals can prepare tax returns and provide advice about compliance with IRS rules.
Inherited IRA Rules for Surviving Spouses
Situations involving IRAs are among the move complex matters that enrolled agents work. This is especially true with inherited IRAs.
Inherited IRA Rules for Surviving Spouses
Situations involving IRAs are among the move complex matters that enrolled agents work. This is especially true with inherited IRAs.
Friday, 27 January 2012
Talk About Buyer’s Remorse… Short Sales, Taxes & the IRS
Talk About Buyer’s Remorse… Short Sales, Taxes & the IRS
The Smart Tax Professional: Advising Clients on How to Make the Most of Tax Refunds
The Smart Tax Professional: Advising Clients on How to Make the Most of Tax Refunds
Sometimes Small Business Is Better Than No Business
Sometimes Small Business Is Better Than No Business
The IRS Feels Your Pain: The Agency Extends Helping Hand to Small Businesses
The IRS Feels Your Pain: The Agency Extends Helping Hand to Small Businesses
Taxation in the 21st Century: Is the IRS the New Apple
Taxation in the 21st Century: Is the IRS the New Apple
A Quick Tax Class Overview of Handling Unemployment Compensation
A Quick Tax Class Overview of Handling Unemployment Compensation
GARNISHED WAGES: HOW EXPERIENCES TAX PREPARERS CAN HELP
GARNISHED WAGES: HOW EXPERIENCES TAX PREPARERS CAN HELP
How Capturing a Simple Tax Credit Reflects the Value of a RTRP
How Capturing a Simple Tax Credit Reflects the Value of a RTRP
Non-Taxable Personal Injury Awards May Require an Enrolled Agent
Non-Taxable Personal Injury Awards May Require an Enrolled Agent
The Smart Tax Professional: Advising Clients on How to Make the Most of Tax Refunds
The Smart Tax Professional: Advising Clients on How to Make the Most of Tax Refunds
Aggressive, Out-of-the-Box Tax Planning
Enrolled agents have long advised clients to heed conventional tax wisdom — deferring income and accelerating expenses — in their conventional role as a registered tax return preparer.
The Latest News, Developments
In a move to improve both the quality and regulation of the tax preparation industry, the IRS has taken the first steps toward stopping tax preparers with criminal convictions, or with other injunctions, from practicing as tax return preparers.
The ABCs of The American Opportunity Tax Credit
The ever-changing landscape of taxation presents both opportunities and challenges for enrolled agents in their role as a registered tax return preparer.
Red Flags All Enrolled Agents Should Recognize
Because audits by the IRS have been more frequent over the past five years, it is important for enrolled agents, indeed any registered tax return preparer, to start brushing up on the types of issues that have been found to prompt audits by the IRS.
Training for the Tax Preparer Exam
The IRS has gradually released information about the new tax preparer exam. This permits study planning for anyone working as a tax practitioner or planning to do so.
What the Enrolled Agent Designation Really Means
Enrolled Agents should remember to promote themselves with an explanation of what is really meant by their professional designation. Here are a few basic ways to convey the significance an EA provides to the public.
Enrolled Agent Help for Injured Spouses on IRS Refund Offsets
Passing the special enrollment examination provides an individual with the designation of enrolled agent in order to represent taxpayers before the IRS.
Enrolled Agent Help for Injured Spouses on IRS Refund Offsets
Passing the special enrollment examination provides an individual with the designation of enrolled agent in order to represent taxpayers before the IRS.
Tax Preparer Certification Guide for Charitable Deductions
A taxpayer is entitled to a tax deduction when giving away cash or property to a charitable organization. But there are a few basic guidelines that a Registered
Tax Preparer or Marriage Counselor
In their role as a registered tax return preparer, enrolled agents often find themselves wearing many hats. Offering up suggestions for mitigating a bad marriage is not exactly something that would qualify as a typical function of an enrolled agent.
Where Enrolled Agents Can Educate Taxpayers
The only thing worse for a taxpayer than having to fork over a ton of money each year in taxes, is paying more than what they owe. If this happens, the enrolled agent has failed in his duties as a registered tax return preparer.
Taxes on Sale of Residence
If certain conditions exist there is no income tax consequence from a taxpayer’s sale of a principal residence.
Talk About Buyer’s Remorse… Short Sales, Taxes & the IRS
Talk About Buyer’s Remorse… Short Sales, Taxes & the IRS
Taxes & Retirement – Keep More of Your Money
Taxes play a significant role in retirement plans as well as in the life of leisure these plans afford individuals when it comes time to retiring.
The Smart Tax Professional: Advising Clients on How to Make the Most of Tax Refunds
Helping people invest in their futures by putting their federal tax return to work for them is one way for CPA, enrolled agents and other tax professionals to retrain clients and build a strong,
The Tale of Two Tax Breaks
IRS Gives Struggling Taxpayers a Fresh Start, and Offshore Players an Ultimatum.Forgiveness comes in many forms and for many reasons.
Sometimes Small Business Is Better Than No Business
Understanding the Benefits of the Small Business Jobs Act.Although it is a scary time for many entrepreneurs and small business owner, there may well be some light at the end of the tunnel tax-wise. In September 2010,
Tax Tips for the Self-Employed
The percentage of Americans working for themselves has fallen since the economic recovery began, according to the Labor Department.
The IRS Feels Your Pain: The Agency Extends Helping Hand to Small Businesses
Small businesses across the country have faced some seriously challenging conditions the past few years. According to one advocacy group,
IRS Kicks of EITC Awareness Day
Who said the IRS has no heart? On January 29th, the agency paired up with the organization, Community Partners, to host the Earned Income Tax Credit Awareness Day.
IRS Lien Avoidance Measures for Enrolled Agents to Know
In recent years, the Internal Revenue Service has taken steps to help taxpayers avoid tax liens. The IRS provided relief in 2008 to individuals engaged in the financial struggle to refinance or sell their homes.
Leaving No “Deduction” Stone Unturned
The Most Commonly Overlooked Tax Deductions.In an economy where every penny counts to the majority of taxpayers, it is best to leave no stone unturned when it comes to deductions and exemptions.
Taxation in the 21st Century: Is the IRS the New Apple
Just under two years ago, in the spring of 2009, the IRS released its strategic plan for 2009-2013 in which Commissioner Douglas Shulman alluded to the unique opportunities and challenges facing the IRS.
A Quick Tax Class Overview of Handling Unemployment Compensation
Unknowing taxpayers can experience a surprise when they learn unexpectedly that their unemployment compensation is subject to income tax.
EA Continuing Education for Tax Lien Basics
A lien is an encumbrance on property to secure a payment obligation. A delinquent federal tax debt is one of the situations where a lien is imposed. This often results in work for enrolled agents to resolve the matter with the IRS.
Enrolled Agent Study Guide for Home Debt Cancellation
The special enrolled examination that’s completed to obtain EA certification contains several questions about the income tax affect of debt cancellation. Forgiven debt is usually taxable. But there are exceptions.
Tax CPE Basics about the Earned Income Credit
The Earned Income Tax Credit is available to taxpayers with specified income levels and family sizes. The credit is refundable,
The First Step in Tax Preparer Jobs
When a Registered Tax Return Preparer starts a project, the first step is identifying the filing status of the taxpayer. Filing status permits determination of a standard deduction amount,
What Enrolled Agents Should Know About IRS Tax Deb
The Internal Revenue Service is streamlining some Tax Debt Settlement Procedures That Affect The Work of enrolled agents. The new Measures are Intended to help more Taxpayers Resolve Their Liabilities with the IRS.
When Tax Preparer Jobs Involve Reporting Barter Income
When economic conditions are difficult, individuals tend to obtain extra income from a variety of sources. Anyone who has become a tax preparer is likely to receive questions about whether some uncommon types of income are taxable.
Thursday, 26 January 2012
Aggressive, Out-of-the-Box Tax Planning
Enrolled agents have long advised clients to heed conventional tax wisdom — deferring income and accelerating expenses — in their conventional role as a registered tax return preparer.
The ABCs of The American Opportunity Tax Credit
The ever-changing landscape of taxation presents both opportunities and challenges for enrolled agents in their role as a registered tax return preparer.
What the Enrolled Agent Designation Really Means
Enrolled Agents should remember to promote themselves with an explanation of what is really meant by their professional designation. Here are a few basic ways to convey the significance an EA provides to the public.
Enrolled Agent Help for Injured Spouses on IRS Refund Offsets
Passing the special enrollment examination provides an individual with the designation of enrolled agent in order to represent taxpayers before the IRS.
Enrolled Agent Study Guide Basics About Taxable Gifts
Gifts of money or property are usually not taxable events. However, sometimes giving is subject to gift tax. Part of the training for the enrolled agent examination addresses tax on gifts.
Tax Preparer or Marriage Counselor
In their role as a registered tax return preparer, enrolled agents often find themselves wearing many hats. Offering up suggestions for mitigating a bad marriage is not exactly something that would qualify as a typical function of an enrolled agent.
The Enrolled Agent’s Secret Weapon Against Homeowner Blues
Over the past several years, enrolled agents, perhaps more than any other registered tax return preparer, have learned how to help lift the spirits of homeowners suffering from buyer’s remorse.
Taxpayers with Casualty Losses Need Your Expertise
Taxpayers who itemize deductions commonly ignore an advantage they have when incurring a casualty or theft. An amount of loss from these events is deductible.
What Information Enrolled Agents Need to Pass Along
Enrolled agents with clients looking to invest in long-term retirement strategies have some good news to report. This year, taxpayers have been granted a couple of extra days to take out an Individual Retirement Arrangement (IRA).
Tax Breaks Enrolled Agents Need
Owning a home opens the door to a plethora of tax-saving opportunities, and there are a literally dozens of tax breaks that homeowners should leverage.
Taxpayers with Casualty Losses Need Your Expertise from Tax Preparer Certification
Taxpayers with Casualty Losses Need Your Expertise from Tax Preparer Certification
Taxpayers with Installment Sales Are Candidates for the Expertise
Taxpayers with Installment Sales Are Candidates for the Expertise
Taxpayers with Miscellaneous Income Need Your Knowledge as a Registered Tax Return Preparer
Taxpayers with Miscellaneous Income Need Your Knowledge as a Registered Tax Return Preparer
Your Enrolled Agent Course Makes You the Ideal Adviser for Taxpayers with Debt Cancellation
Your Enrolled Agent Course Makes You the Ideal Adviser for Taxpayers with Debt Cancellation
Your Enrolled Agent Training Particularly Valuable in NOL Situations
Your Enrolled Agent Training Particularly Valuable in NOL Situations
Your Tax CPE is Valuable to All Taxpayers Who Provide Gifts
Your Tax CPE is Valuable to All Taxpayers Who Provide Gifts
Do More as a Tax Practitioner With the Enrolled Agent Designation
Do More as a Tax Practitioner With the Enrolled Agent Designation
Families With Deaths Require Your Knowledge from EA CPE
Families With Deaths Require Your Knowledge from EA CPE
Individuals Who Have Not Filed Tax Returns Need Your Enrolled Agent Skills
Individuals Who Have Not Filed Tax Returns Need Your Enrolled Agent Skills
Tax CPE Needed to Resolve Some Dependent Student Situations
Tax CPE Needed to Resolve Some Dependent Student Situations
Wednesday, 25 January 2012
Hiring IRS Registered Tax Return Preparer Is Worth the Cost By Avoiding Fraudulent Tax Services
Hiring IRS Registered Tax Return Preparer Is Worth the Cost By Avoiding Fraudulent Tax Services
Action Required Before Year-End to Conduct Tax Preparer Work in 2012
Action Required Before Year-End to Conduct Tax Preparer Work in 2012
Tax Preparer Study for Community Property Domestic Partners – Part 3
Tax Preparer Study for Community Property Domestic Partners – Part 3
Efforts of Professional With RTRP License Avoids These IRS Audit Triggers
Efforts of Professional With RTRP License Avoids These IRS Audit Triggers
Advice From Enrolled Agent School Graduates Averts Big Tax Mistakes
Advice From Enrolled Agent School Graduates Averts Big Tax Mistakes
Enrolled Agent Jobs Showing Taxpayers How To Exercise Their Rights
Enrolled Agent Jobs Showing Taxpayers How To Exercise Their Rights
Enrolled Agent Study Covers When Tax-Exempt Entities Owe Tax
Enrolled Agent Study Covers When Tax-Exempt Entities Owe Tax
Income Shifting Taxpayers Need Cautionary Advice of Enrolled Agents
Income Shifting Taxpayers Need Cautionary Advice of Enrolled Agents
IRS Tax Preparers Lead People Away From Fraudulent Schemes
IRS Tax Preparers Lead People Away From Fraudulent Schemes
Tuesday, 24 January 2012
Using Your EA Continuing Education to Advise Clients with Earnings from a Sideline Venture
Using Your EA Continuing Education to Advise Clients with Earnings from a Sideline Venture
A RTRP in Any State Should Help Taxpayers with California Income
A RTRP in Any State Should Help Taxpayers with California Income
Become a Tax Preparer With a Focus on the Self-Employed
Become a Tax Preparer With a Focus on the Self-Employed
Build Your Enrolled Agent Practice Helping Taxpayers with the Nanny Tax
Build Your Enrolled Agent Practice Helping Taxpayers with the Nanny Tax
Business Travelers Benefit from Your Tax Preparer Certification Guidance
Business Travelers Benefit from Your Tax Preparer Certification Guidance
EA Continuing Education is the Most Reliable Training for Taxpayer Audits
EA Continuing Education is the Most Reliable Training for Taxpayer Audits
Enrolled Agent CPE Prepares You to Help Taxpayers Find More Deductions
Enrolled Agent CPE Prepares You to Help Taxpayers Find More Deductions
Enrolled Agent Study Guide for Gross Rental Income
Enrolled Agent Study Guide for Gross Rental Income
Expertise of Enrolled Agents Ideal for Startup Entrepreneurs
Expertise of Enrolled Agents Ideal for Startup Entrepreneurs
Advice to S Corporation Owners Adds Value to Enrolled Agent Relationship
Advice to S Corporation Owners Adds Value to Enrolled Agent Relationship
Enrolled Agent Priorities to Guide Individuals with Tax Notices
Enrolled Agent Priorities to Guide Individuals with Tax Notices
Do More as a Tax Practitioner With the Enrolled Agent Designation
Do More as a Tax Practitioner With the Enrolled Agent Designation
Tax Preparer Jobs Involving the Earned Income Credit
Tax Preparer Jobs Involving the Earned Income Credit
Enrolled Agent Continuing Education Aids in Explaining the AMT
Enrolled Agent Continuing Education Aids in Explaining the AMT
Self-Employment Tax Essentials for Enrolled Agents to Build Relationships With Entrepreneurs
Self-Employment Tax Essentials for Enrolled Agents to Build Relationships With Entrepreneurs
Sound Business Plan to Become A Tax Preparer in California
Sound Business Plan to Become A Tax Preparer in California
Stock Transfers Call For Immediate Information You Possess from Tax CPE
Stock Transfers Call For Immediate Information You Possess from Tax CPE
Enrolled Agent Course Makes Superior Choice Over Tax Resolution Scams
Enrolled Agent Course Makes Superior Choice Over Tax Resolution Scams
Enrolled Agent Course Makes Superior Choice Over Tax Resolution Scams
Enrolled Agent Course Makes Superior Choice Over Tax ScamsResolution
Monday, 23 January 2012
How Enrolled Agents Help Taxpayers Prepare for IRS Debt Resolution
How Enrolled Agents Help Taxpayers Prepare for IRS Debt Resolution
Independent Contractors Greatly Need Your Skills from Enrolled Agent CPE
Independent Contractors Greatly Need Your Skills from Enrolled Agent CPE
RTRP Advice for Uncommon Small Business Tax Deductions
RTRP Advice for Uncommon Small Business Tax Deductions
The Most Important Tax Preparer Jobs Involve Determining Deductions
The Most Important Tax Preparer Jobs Involve Determining Deductions
Your EA CPE Needed by Individuals With Farm and Ranch Sidelines
Your EA CPE Needed by Individuals With Farm and Ranch Sidelines
Self-Paced Tax CPE All the Rage
Tax professionals are moving in droves toward the convenience of online tax cpe courses as a way of fulfilling continuing education requirements
Why is Continuing Professional Education in Important to Enrolled Agents
Most all professionals realize the importance of staying abreast of the most recent developments and changes that unfold within their fields. There is no profession where this understanding is more paramount than the tax profession, where amendments in current tax acts are introduced on a routine, and very often annual, basis.
Tax Relief for Spouses
Some individuals are surprised to learn that the tax calculated on a joint tax return is a liability of each of spouse separately. This causes problems when one spouse underreports income and then ski more
About the National Association of Enrolled Agents
The National Association of Enrolled Agents (NAEA) is an organization whose members are tax professionals with an EA license
Advantages of Online Continuing
Continuing education tax courses are required by a variety of official bodies. The new Register Tax Return Preparer system of the Internal Revenue Service mandates 15 hours of annual CPE.
Enrolled Agent Tax Topic: Amended Tax Returns
Taxpayers may need to submit amended tax returns when a mistake is discovered on a previously filed return.
Income Tax Returns For Divorced Individuals
Assisting a divorced taxpayer involves careful finesse relating to multiple issues. There are many misconceptions about preparation of tax returns following a divorce. This often leads to inaccurately filed tax returns.
Origin / History of Enrolled Agents
Enrolled Agents are provided with special privileges for representing others in settling claims with the government. Since the implementation of the federal income tax in 1913, the job of an EA has involved representing taxpayers with the Internal Revenue Service.
Quarterly Estimated Tax Payments
Although April 15 is the deadline for paying taxes on income from the prior year, the IRS does impose a penalty for failing to pay taxes throughout the year.
Valuable Advice for Husband and Wife Businesses Obtained from Professionals
The Internal Revenue Service imposes special tax consequences on investment income of dependent children. Parents who establish accounts for their children should be aware of the tax obligations related to receiving income from assets held in a child’s name.
Understanding the Child Tax Credit
One of the misunderstood factors in preparing personal income tax returns is the child tax credit. A common error is failure to claim the credit by taxpayers who are entitled to receive it. Another common error is claiming of the credit by taxpayers who are not entitled to it.
Casualty & Theft Losses Commonly Overlooked
A commonly overlooked tax deduction is available for casualties and thefts. Taxpayers must itemize deductions to claim the loss.
Hobby vs. Profession and the Expectation of Profit
When the Internal Revenue Service assesses tax on your business income, it permits the deduction of the ordinary expenses that are necessary to earn that income. When the expenses sometimes exceed the revenue, the loss is deductible against other sources of income.
Income Tax Issues with Vacation Homes
Some of the tax deductions permitted for a primary residence are also available for a vacation home.
Income Tax on Employee Gifts, Even Santa Gets Taxed
Most of the gifts someone receives from an employer are counted as compensation. This causes employers to track the values of gifts to employees for accurate reporting to the IRS.
GPS For Navigating Miscellaneous Itemized Deductions
Taxpayers who itemize deductions are entitled to some commonly overlooked miscellaneous deductions. Most types of miscellaneous deductions are only tax-deductible to the extent their total exceeds 2 percent of adjusted gross income. However, some expenses are not subject to this limitation.
IRS Standards for Mileage Expense Deduction
Employers are entitled to tax deductions for mileage reimbursements to employees. However, the types of records maintained affect tax reporting by the employer as well as the tax impact on the employee.
Adoption Has So Many Benefits ... Why Not Taxes as w
Adoption Has So Many Benefits ... Why Not Taxes as w
Saving for Retirement: It's About More Than Just t
Saving for Retirement: It's About More Than Just t
Tax Implications of Mortgage Loan ModificationsTax Implications of Mortgage Loan Modifications
Tax Implications of Mortgage Loan Modifications
It Pays to Be Green: Federal Tax Credits for Energy Efficiency
It Pays to Be Green: Federal Tax Credits for Energy Efficiency
Self-Employed Need Apply: Tax Deductions That Pay Come Tax Time
Self-Employed Need Apply: Tax Deductions That Pay Come Tax Time
RTPR Information about Entitlement to the Child Tax Credit
RTPR Information about Entitlement to the Child Tax Credit
Ten Things to Know About the Child and Dependent Care Credit
Ten Things to Know About the Child and Dependent Care Credit
New Home Buyer Tax Credit: What Every Enrolled Agent Should Know
New Home Buyer Tax Credit: What Every Enrolled Agent Should Know
Enrolled Agent Help for Injured Spouses on IRS Refund Offsets
Enrolled Agent Help for Injured Spouses on IRS Refund Offsets
Enrolled Agents Poised To Set the Record Straight About Home
Enrolled Agents Poised To Set the Record Straight About Home
Enrolled Agent Study Guide Basics About Taxable Gifts
Enrolled Agent Study Guide Basics About Taxable Gifts
Tax Preparer Certification Guide for Charitable Deductions
Tax Preparer Certification Guide for Charitable Deductions
The Enrolled Agent’s Secret Weapon Against Homeowner Blues
The Enrolled Agent’s Secret Weapon Against Homeowner Blues
Taxpayers with Casualty Losses Need Your Expertise
Taxpayers with Casualty Losses Need Your Expertisehttp://fastforwardacademy.com/blog/2011/05/
What Information Enrolled Agents Need to Pass Along
What Information Enrolled Agents Need to Pass Along
http://fastforwardacademy.com/blog/2011/05/02/enrolled-agent-update-changes-on-self-employed-tax-returns/
http://fastforwardacademy.com/blog/2011/05/02/enrolled-agent-update-changes-on-self-employed-tax-returns/
Sunday, 22 January 2012
HILL HAPPENINGS THE ENROLLED AGENT S LEGISLATIVE ROADMAP
HILL HAPPENINGS THE ENROLLED AGENT S LEGISLATIVE ROADMAP
Saturday, 21 January 2012
How Enrolled Agents Can Dispel the Myth that Bonuses Don’t Pay
How Enrolled Agents Can Dispel the Myth that Bonuses Don’t Pay
New Home Buyer Tax Credit: What Every Enrolled Agent Should Know
New Home Buyer Tax Credit: What Every Enrolled Agent Should Know
Enrolled Agent Help for Injured Spouses on IRS Refund Offsets
Enrolled Agent Help for Injured Spouses on IRS Refund Offsets
Enrolled Agents Poised To Set the Record Straight About Home
Enrolled Agents Poised To Set the Record Straight About Home
Enrolled Agent Study Guide Basics About Taxable Gifts
Enrolled Agent Study Guide Basics About Taxable Gifts
Tax Preparer Certification Guide for Charitable Deductions
Tax Preparer Certification Guide for Charitable Deductions
The Enrolled Agent’s Secret Weapon Against Homeowner Blues
The Enrolled Agent’s Secret Weapon Against Homeowner Blues
Taxpayers with Casualty Losses Need Your Expertise
Taxpayers with Casualty Losses Need Your Expertise
What Information Enrolled Agents Need to Pass Along
What Information Enrolled Agents Need to Pass Along
Health Care Reform, Oil Subsidies, Innocent Spouse Relief, and more
Health Care Reform, Oil Subsidies, Innocent Spouse Relief, and more
Some Tax Preparers Will Not Have Tax Preparer Certification
Some Tax Preparers Will Not Have Tax Preparer Certification
Tax Class Summary of Deductions for an Employee who Itemizes
Tax Class Summary of Deductions for an Employee who Itemizes
Taxpayers with Moving Expenses Deserve the Help of a RTRP
Taxpayers with Moving Expenses Deserve the Help of a RTRP
Friday, 20 January 2012
Enrolled Agent CPE Clarifies How the IRS Views Repair and Maintenance Costs
Enrolled Agent CPE Clarifies How the IRS Views Repair and Maintenance Costs
Plenty of Opportunities for a RTRP to Advise Divorcing CouplesPlenty of Opportunities for a RTRP to Advise Divorcing Couples
Plenty of Opportunities for a RTRP to Advise Divorcing Couples
Enrolled Agent Course Summary on IRS Collection of Back Taxes
Enrolled Agent Course Summary on IRS Collection of Back Taxes
Strategies Enrolled Agents Use to Reduce Debt Owed to the IRS
Strategies Enrolled Agents Use to Reduce Debt Owed to the IRS
Advice to S Corporation Owners Adds Value to Enrolled Agent Relationship
Advice to S Corporation Owners Adds Value to Enrolled Agent Relationship
Do More as a Tax Practitioner With the Enrolled Agent Designation
Do More as a Tax Practitioner With the Enrolled Agent Designation
Tax Preparer Jobs Involving the Earned Income Credit
Tax Preparer Jobs Involving the Earned Income Credit
Enrolled Agent Continuing Education Aids in Explaining the AMT
Enrolled Agent Continuing Education Aids in Explaining the AMT
Self-Employment Tax Essentials for Enrolled Agents to Build Relationships With Entrepreneurs
Self-Employment Tax Essentials for Enrolled Agents to Build Relationships With Entrepreneurs
Self-Employment Tax Essentials for Enrolled Agents to Build Relationships With Entrepreneurs
Self-Employment Tax Essentials for Enrolled Agents to Build Relationships With Entrepreneurs
Stock Transfers Call For Immediate Information You Possess from Tax CPE
Stock Transfers Call For Immediate Information You Possess from Tax CPE
Enrolled Agent Course Makes Superior Choice Over Tax Resolution Scams
Enrolled Agent Course Makes Superior Choice Over Tax Resolution Scams
Enrolled Agent Course Makes Superior Choice Over Tax Resolution ScamsEnrolled Agent Course Makes Superior Choice Over Tax Resolution Scams
Enrolled Agent Course Makes Superior Choice Over Tax Resolution Scams
How Enrolled Agents Help Taxpayers Prepare for IRS Debt Resolution
How Enrolled Agents Help Taxpayers Prepare for IRS Debt Resolution
Thursday, 19 January 2012
Independent Contractors Greatly Need Your Skills from Enrolled Agent CPEIndependent Contractors Greatly Need Your Skills from Enrolled Agent CPE
Independent Contractors Greatly Need Your Skills from Enrolled Agent CPE
RTRP Advice for Uncommon Small Business Tax Deductions
RTRP Advice for Uncommon Small Business Tax Deductions
The MThe Most Important Tax Preparer Jobs Involve Determining Deductionsost Important Tax Preparer Jobs Involve Determining Deductions
The Most Important Tax Preparer Jobs Involve Determining Deductions
Your EA CPE Needed by Individuals With Farm and Ranch Sidelines
Your EA CPE Needed by Individuals With Farm and Ranch Sidelines
Criteria People Use When Choosing Professionals for Tax Preparer Jobs
Criteria People Use When Choosing Professionals for Tax Preparer Jobs
Ethics CPE Applies to Deductions of Charitable Donations
Ethics CPE Applies to Deductions of Charitable Donations
EA Continuing Education Overview for 2011 Rules on Gift Tax
EA Continuing Education Overview for 2011 Rules on Gift Tax
Income Tax Course Covers the Often Misunderstood Deduction of State and Local Taxes
Income Tax Course Covers the Often Misunderstood Deduction of State and Local Taxes
Registered Tax Return Preparer Basics About Extensions
Registered Tax Return Preparer Basics About Extensions
Remembering Tax Payment Options for the Enrolled Agent Exam
Remembering Tax Payment Options for the Enrolled Agent Exam
The Right Steps for Deduction of Mortgage Points When You Become a Tax Preparer
The Right Steps for Deduction of Mortgage Points When You Become a Tax Preparer
Examining the Tax Payment Options Presented in an Enrolled Agent Course
Examining the Tax Payment Options Presented in an Enrolled Agent Course
Steps for Choosing Enrolled Agents as Tax Return Preparers
Steps for Choosing Enrolled Agents as Tax Return Preparers
Wednesday, 18 January 2012
Sound Business Plan to Become A Tax Preparer in California
Sound Business Plan to Become A Tax Preparer in California
Stock Transfers Call For Immediate Information You Possess from Tax CPE
Stock Transfers Call For Immediate Information You Possess from Tax CPE
Enrolled Agent Course Makes Superior Choice Over Tax Resolution Scams
Enrolled Agent Course Makes Superior Choice Over Tax Resolution Scams
Enrolled Agent Course Makes Superior Choice Over Tax Resolution Scams
Enrolled Agent Course Makes Superior Choice Over Tax Resolution Scams
Enrolled Agent Course Makes Superior Choice Over Tax Resolution Scams
Enrolled Agent Course Makes Superior Choice Over Tax Resolution Scams
How Enrolled Agents Help Taxpayers Prepare for IRS Debt Resolution
How Enrolled Agents Help Taxpayers Prepare for IRS Debt Resolution
Independent Contractors Greatly Need Your Skills from Enrolled Agent CPE
Independent Contractors Greatly Need Your Skills from Enrolled Agent CPE
RTRP Advice for Uncommon Small Business Tax Deductions
RTRP Advice for Uncommon Small Business Tax Deductions
The Most Important Tax Preparer Jobs Involve Determining Deductions
The Most Important Tax Preparer Jobs Involve Determining Deductions
Your EA CPE Needed by Individuals With Farm and Ranch Sidelines
Your EA CPE Needed by Individuals With Farm and Ranch Sidelines
Criteria People Use When Choosing Professionals for Tax Preparer Jobs
Criteria People Use When Choosing Professionals for Tax Preparer Jobs
Ethics CPE Applies to Deductions of Charitable Donations
Ethics CPE Applies to Deductions of Charitable Donations
EA Continuing Education Overview for 2011 Rules on Gift Tax
EA Continuing Education Overview for 2011 Rules on Gift Tax
Income Tax Course Covers the Often Misunderstood Deduction of State and Local Taxes
Income Tax Course Covers the Often Misunderstood Deduction of State and Local Taxes
Registered Tax Return Preparer Basics About Extensions
Registered Tax Return Preparer Basics About Extensions
Remembering Tax Payment Options for the Enrolled Agent Exam
Remembering Tax Payment Options for the Enrolled Agent Exam
The Right Steps for Deduction of Mortgage Points When You Become a Tax Preparer
The Right Steps for Deduction of Mortgage Points When You Become a Tax Preparer
Examining the Tax Payment Options Presented in an Enrolled Agent Course
Examining the Tax Payment Options Presented in an Enrolled Agent Course
Steps for Choosing Enrolled Agents as Tax Return Preparers
Steps for Choosing Enrolled Agents as Tax Return Preparers
RTRP Training Means Becoming Thorough in Finding Miscellaneous Deductions
RTRP Training Means Becoming Thorough in Finding Miscellaneous Deductions
RTRP Training Means Becoming Thorough in Finding Miscellaneous Deductions
RTRP Training Means Becoming Thorough in Finding Miscellaneous Deductions
Rules Learned for Enrolled Agent Exam Allow Helping Taxpayers in Military
Rules Learned for Enrolled Agent Exam Allow Helping Taxpayers in Military
Tax Preparer Certification Assures that Unusual Charitable Deductions
Tax Preparer Certification Assures that Unusual Charitable Deductions
IRS Emphasizes Limits in Using Designation of Registered Tax Return Preparer
IRS Emphasizes Limits in Using Designation of Registered Tax Return Preparer
Tuesday, 17 January 2012
Why Filing Taxes for your Client, Even When They Aren’t Required, Might be a Good Thing
Why Filing Taxes for your Client, Even When They Aren’t Required, Might be a Good Thing
Tax Considerations for Small Businesses: To Barter or Not to Barter
Tax Considerations for Small Businesses: To Barter or Not to Barter
Talk About Buyer’s Remorse… Short Sales, Taxes & the IRS
Talk About Buyer’s Remorse… Short Sales, Taxes & the IRS
Monday, 16 January 2012
The Smart Tax Professional: Advising Clients on How to Make the Most of Tax Refunds
The Smart Tax Professional: Advising Clients on How to Make the Most of Tax Refunds
Sometimes Small Business Is Better Than No Business
Sometimes Small Business Is Better Than No Business
The IRS Feels Your Pain: The Agency Extends Helping Hand to Small Businesses
The IRS Feels Your Pain: The Agency Extends Helping Hand to Small Businesses
IRS Lien Avoidance Measures for Enrolled Agents to Know
IRS Lien Avoidance Measures for Enrolled Agents to Know
Taxation in the 21st Century: Is the IRS the New Apple
Taxation in the 21st Century: Is the IRS the New Apple
A Quick Tax Class Overview of Handling Unemployment Compensation
A Quick Tax Class Overview of Handling Unemployment Compensation
Enrolled Agent Study Guide for Home Debt Cancellation
Enrolled Agent Study Guide for Home Debt Cancellation
What Enrolled Agents Should Know About IRS Tax Deb
What Enrolled Agents Should Know About IRS Tax Deb
When Tax Preparer Jobs Involve Reporting Barter Income
When Tax Preparer Jobs Involve Reporting Barter Income
Adoption Has So Many Benefits ... Why Not Taxes as w
Adoption Has So Many Benefits ... Why Not Taxes as w
Saving for Retirement: It's About More Than Just t
Saving for Retirement: It's About More Than Just t
Sunday, 15 January 2012
The Best Strategy To Pass The Enrolled Agent Special Enrollment Exam (SEE) The First Timei
The Best Strategy To Pass The Enrolled Agent Special Enrollment Exam (SEE) The First Time
Fast Forward Academy Announces New Retail Distribution
Fast Forward Academy Announces New Retail Distribution
Fast Forward Academy Hires Matt McBride as its President in Preparation for Rapid Growth
Fast Forward Academy Hires Matt McBride as its President in Preparation for Rapid Growth
Enrolled Agents Help Settle Your Tax Debts With the IRS
Enrolled Agents Help Settle Your Tax Debts With the IRS
The Amazing Secret to Earning Lucrative IRS Collection Resolution Fees
The Amazing Secret to Earning Lucrative IRS Collection Resolution Fees
TIGTA Report Provides Proof of Increasing Need for Enrolled Agents
TIGTA Report Provides Proof of Increasing Need for Enrolled Agents
IRS Return Tax Preparer Rules and Regulations to Begin September 2010
IRS Return Tax Preparer Rules and Regulations to Begin September 2010
Enrolled Agent Course or used an Enrolled Agent study guide and passed the Enrolled Ag
Enrolled Agent Course or used an Enrolled Agent study guide and passed the Enrolled Ag
Enrolled Agents Help Settle Your Tax Debts With the IRS
Enrolled Agents Help Settle Your Tax Debts With the IRS
Important News: New IRS PTIN Registration System is Operational
Important News: New IRS PTIN Registration System is Operational
Registered Preparer Continuing Education Requirements
Registered Preparer Continuing Education Requirements
Important News: New IRS PTIN Registration System is Operational
Important News: New IRS PTIN Registration System is Operational
Enrolled Agents help to resolve back taxes
If you do not have the money to pay delinquent taxes, always at least file the delinquent tax returns. The IRS is not authorized to enter into any type of tax settlement until all past returns are filed.
IRS Proposal Includes Adoption of Circular 230 and Tax CPE
Earlier this year, the Internal Revenue Service (IRS) issued its plan for mandatory tax preparer registration, which extends to all paid tax return preparers. The new regulation has four major components to it: registration, continuing professional education, examination and ethics.
New Registration Standards Change the Game for Tax Professionals
The Internal Revenue Service has announced a new registration system for preparers for tax returns and anyone assisting with a claim for refund. All individuals involved in these activities are required to obtain a newly issued Preparer Tax Identification Number (PTIN) for services provided after December 31, 2010.
The difference between Tax Preparer Designations
Several different types of paid tax return preparers exist, but their designations and credentials reveal various areas of expertise.
CPA Exam Review
Recent graduates of an accredited accounting program will undoubtedly be focused on securing an employment position with a public accounting firm. Once a position has been obtained, the individual will then need to set aside some time to study for the Certified Public Accountant (CPA) exam.
Increase in IRS Enforcement
The main purpose of the Internal Revenue Service is to enforce the tax codes that exist, in order to collect the various taxes that fund governmental programs. The agency uses the Internal Revenue Code to apply specific rules and regulations to tax situations.
New PTIN Rules – How It Effects Existing Tax Return Preparers
New PTIN Rules – How It Effects Existing Tax Return Preparers
Tax Return Preparer E-filing Mandate to Take Effect in
Tax Return Preparer E-filing Mandate to Take Effect in
The Good, Bad and the Ugly – Reaction to New IRS Rules for Tax Preparers
The Good, Bad and the Ugly – Reaction to New IRS Rules for Tax Preparers
IRS Goes to Bat for Taxpayers By Taking Aim at Tax Prep Fraud
Tax preparers do not always act in ways that represent the best interest of taxpayers. The IRS has been warning consumers of this fact for years. This was in fact the major catalyst behind the agency’s 2009—and nearly six-month—review of strategies to reduce fraud among the nation’s more than 1 million paid tax preparers.
IRS Proposal Includes Adoption of Circular 230 and Tax CPE
Earlier this year, the Internal Revenue Service (IRS) issued its plan for mandatory tax preparer registration, which extends to all paid tax return preparers. The new regulation has four major components to it: registration, continuing professional education, examination and ethics.
New Registration Standards Change the Game for Tax Professionals
The Internal Revenue Service has announced a new registration system for preparers for tax returns and anyone assisting with a claim for refund. All individuals involved in these activities are required to obtain a newly issued Preparer Tax Identification Number (PTIN) for services provided after December 31, 2010.
The difference between Tax Preparer Designations
Several different types of paid tax return preparers exist, but their designations and credentials reveal various areas of expertise.
CPA Exam Review
Recent graduates of an accredited accounting program will undoubtedly be focused on securing an employment position with a public accounting firm. Once a position has been obtained, the individual will then need to set aside some time to study for the Certified Public Accountant (CPA) exam.
Increase in IRS Enforcement
The main purpose of the Internal Revenue Service is to enforce the tax codes that exist, in order to collect the various taxes that fund governmental programs. The agency uses the Internal Revenue Code to apply specific rules and regulations to tax situations.
New PTIN Rules – How It Effects Existing Tax Return Preparers
New PTIN Rules – How It Effects Existing Tax Return Preparers
Tax Return Preparer E-filing Mandate to Take Effect in
Tax Return Preparer E-filing Mandate to Take Effect in
The Good, Bad and the Ugly – Reaction to New IRS Rules for Tax Preparers
The Good, Bad and the Ugly – Reaction to New IRS Rules for Tax Preparers
The PTIN Blackout is over
To prepare for the launch of the comprehensive new PTIN system, IRS will cease issuing PTINs as of Aug. 22, 2010 using originally issued Form W-7P, Application for Preparer Tax Identification Number, and through e-services.
Saturday, 14 January 2012
Answering the RTRP Exam Questions About Taxable Income Sources
Answering the RTRP Exam Questions About Taxable Income Sources
Registered Tax Return Preparer Classes Aim to Stop Frivolous Tax Claims
Registered Tax Return Preparer Classes Aim to Stop Frivolous Tax Claims
Paid Tax Preparer Study on Deductible Items Without Itemizing
Paid Tax Preparer Study on Deductible Items Without Itemizing
Plenty of Need for Tax Preparation Help by Hurricane Victims
Plenty of Need for Tax Preparation Help by Hurricane Victims
Professionals From Enrolled Agent Program Needed to Argue for IRS Penalty Abatements
Professionals From Enrolled Agent Program Needed to Argue for IRS Penalty Abatements
Proposed New Requirements for Tax Return Preparersc Explained
Proposed New Requirements for Tax Return Preparersc Explained
Did You Know That the IRS Has a New E-File Mandate and Expanded Ethics Standards?
Did You Know That the IRS Has a New E-File Mandate and Expanded Ethics Standards?
Determining California Residency Status for State Income Tax
Determining California Residency Status for State Income Tax
Enrolled Agent Exam Blog: IRA Withdrawal of After-Tax Contributions
Enrolled Agent Exam Blog: IRA Withdrawal of After-Tax Contributions
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