1. Obtain a review course designed for the Enrolled Agent Exam
The Special Enrollment Exam is a tax-specific exam created by the internal revenue service. When you have an accounting background, it could be simple to think you can skip purchasing any materials. However, tax accounting and financial accounting are a couple of different areas; you need to dig further into tax topics than your college courses.
2. Be familiar with any new material
The tax law and IRS publications change constantly; some changes are subtle and a few changes. As legislative changes like these subsequently trickle into the Enrolled Agent Exam, it’s imperative what happens you’re likely to be tested on.
The EA Exam tests the first sort year’s tax laws. Be sure you buy a review course that updates together with the Enrolled Agent Exam.
3. Prioritize learning the fundamentals
It’s easy to get wrapped up in the complexity of tax laws, but remember that the Special Enrollment Exam tests to get a basic level of competency to represent taxpayers ahead of the IRS.
This implies each area of the exam will take care of taxation fundamentals as well as the most popular tax issues. There could be some advanced topics thrown to the mix, but if you are 100% confident on fundamentals, you’re gonna pass the test. You may have the ability to use your fundamental knowledge to utilize principles to more complicated tax matters.
4. Memorize basic tax formulas
Comparable to having the fundamentals, you’re likely going to have to calculate various basic tax numbers. To create intimidating computations very simple, memorize the formats of basic tax calculations for folks and other forms of companies.
5. Learn to budget your time (and know when to skip questions)
The Enrolled Agent Exam is timed, meaning you'll want to budget your time and efforts to complete the whole test within the allotted hours. Taking practice exams and learning to don't is the vital thing; you need to consistently be examining the time and ensuring you’re on track to determine every question. It's also advisable to try and budget time towards the end for questions you skip, in addition to create a technique for skipping.
It’s an easy task to get up to date on complicated calculation questions, and there’s a high probability you’ll come upon questions which might be completely from left field. As an alternative to spending extra time trying to figure them out, skip and move on to questions one does know. You'll be able to circle back as time allows.
In your practice exams, one factor Surgent exam coaches observe is how allowing a tricky question to discourage you are able to lead to missing subsequent questions. Saving these frustrating questions for the end can prevent you from a number of wrong answers. Your testing mindset is the vital thing to success!
Ready to start studying?
As a possible enrolled agent will improve your confidence being a tax professional, assisting you prepare taxation assessments and represent taxpayers prior to the IRS with conviction. Use these 5 tips to help you pass the EA Exam and obtain on your way to your employment as an EA.
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