In January 2024, the most recent update to the CPA Exam went into effect. The current format brings additional and increasingly significant financial subjects into the examination with the aim of better preparing CPAs for their role. What you need to know about CPA Exam changes The current CPA exam contains the following parts: Each section […]
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4 types of cryptocurrency tax events
You’re a diligent tax preparer. To you, dollars and cents tell stories of tax brackets, reportable income, deductibles and refunds. But now, a client who holds cryptocurrency walks in the door, and you have questions. Is it an asset? Is it income? Is it taxable? If so, how? Let’s start with the IRS, which defines […]
Training tips for beginner tax preparers
Congratulations! You launched your tax preparation business. Tax prep offers high return for minimal start-up costs, and of course, tax preparation will always be in demand. Most importantly, you enjoy helping people and have the confidence to guide them through the taxpaying maze. There’s just one hitch, and it’s called “tax season.” From January through […]
Checklist for preparers to start tax season
Tax season is here, which means it’s time to make sure everything is in order as you prepare for the busiest season of the year. While there’s no way to completely remove the stress and pressure from this challenging time, being as ready as possible beforehand can help mitigate it. Once you’re in the thick […]
Checklist for onboarding new tax and accounting clients
They say you never get a second chance at a first impression, which is why your client onboarding process is so important. Onboarding, or the logistics and actions around getting a new client set up with your practice, sets the stage for your relationship going forward. An excellent onboarding process lays the groundwork for a […]
CMA vs. MBA: Which is right for your career?
Is higher education the best path for business and finance professionals to grow their careers, explore new industries and increase earnings? It depends – not all higher learning is the same. The Certified Management Accountant Credential (CMA) and Master of Business Administration (MBA) are two common and effective ways to progress. The CMA is […]
7 planning considerations for this fiscal year
If you’re the person who’s always helping family and friends prepare their taxes, it might be time to start your own business. After all, tax preparation is in demand every year, and you’ve found that you have a facility for finding solutions and helping people navigate the tax-code maze. Plus, the IRS’ stricter requirements for […]
How to generate new business: Best practice guide for tax professionals
When tax preparers sign up for the job, they know all about the annual tax-time crunch. Many see it like Black Friday, when four months of long, exhausting days generate much of the year’s income. Isn’t it time to put the other eight months to better use and cut back on a few of those tax-time […]
How hard is the EA Exam?
Anyone looking to enter the world of finance or tax professionals will one day have to take and pass a credentialed exam that proves they understand the work. Becoming an enrolled agent (EA) is no different. Before you can begin working with clients at a firm or on your own, you have to pass the […]