1. Obtain a review course especially for the Enrolled Agent Exam
The Special Enrollment Exam is really a tax-specific exam developed by the IRS. For those who have a cpa background, it can be simple to think it is possible to skip purchasing any materials. However, tax accounting and financial accounting are two different areas; you should dig further into tax topics than your college courses.
2. Know about any new material
The tax law and IRS publications change constantly; some changes are subtle and several changes. As legislative changes like these subsequently trickle down into the Enrolled Agent Exam, it’s imperative you know what you’re going to be tested on.
The EA Exam tests the previous year’s tax laws. Ensure you get a review course that updates with all the Enrolled Agent Exam.
3. Prioritize understanding the fundamentals
It’s easy to get obsessed with the complexity of tax laws, but take into account that the Special Enrollment Exam tests for the basic level of competency to represent taxpayers before the IRS.
This implies each area of the exam covers taxation fundamentals along with the most popular tax issues. There might be some advanced topics thrown into the mix, however if you are 100% confident on fundamentals, you’re gonna pass test. Maybe you might even be able to takes place fundamental knowledge to apply principles to more complicated tax matters.
4. Memorize basic tax formulas
Similar to having the fundamentals, you’re likely going to need to calculate a variety of basic tax numbers. To generate intimidating computations a piece of cake, memorize the formats of basic tax calculations for people and other kinds of business entities.
5. Figure out how to budget your time and efforts (and know when you should skip questions)
The Enrolled Agent Exam is timed, meaning you'll want to budget your time and efforts to finish the whole test inside allotted hours. Taking practice exams and finding out how to do not is the vital thing; you need to consistently be checking the some time to ensuring you’re on target to determine every question. Its also wise to try and budget time at the end for questions you skip, in addition to come up with a technique of skipping.
It’s easy to get caught up on complicated calculation questions, and there’s a good chance you’ll come upon questions which might be completely away from left field. Instead of spending additional time trying to figure them out, skip and start working on questions you do know. You are able to circle back as time allows.
On your practice exams, one factor Surgent exam coaches observe is how allowing a tough question to discourage you are able to result in missing subsequent questions. Saving these frustrating questions to the end can prevent you a few wrong answers. Your testing mindset is key to success!
Able to start studying?
As a possible enrolled agent will enhance your confidence as being a tax professional, assisting you to prepare tax returns and represent taxpayers prior to the IRS with conviction. Start using these 5 good ideas , pass the EA Exam and obtain moving toward your work as an EA.
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