1. Get a review course specifically for the Enrolled Agent Exam
The Special Enrollment Exam is often a tax-specific exam produced by the internal revenue service. When you have a cpa background, it may be an easy task to think you can skip purchasing any materials. However, tax accounting and financial accounting are two different areas; you need to dig further into tax topics than your college courses.
2. Be aware of any new material
The tax law and IRS publications change constantly; some changes are subtle plus some changes. As legislative changes genuinely subsequently trickle down into the Enrolled Agent Exam, it’s imperative do you know what you’re likely to be tested on.
The EA Exam tests the last year’s tax laws. Be sure to buy a review course that updates with all the Enrolled Agent Exam.
3. Prioritize knowing the fundamentals
It’s an easy task to get wrapped up in the complexness of tax laws, but remember that the Special Enrollment Exam tests for a beginner's of competency to represent taxpayers ahead of the IRS.
What this means is each part of the exam covers taxation fundamentals and also the most common tax issues. There can be some advanced topics thrown in the mix, though if you are 100% confident on fundamentals, you’re gonna pass test. You may have the ability to make use of fundamental knowledge to utilize principles to more advanced tax matters.
4. Memorize basic tax formulas
Comparable to learning the fundamentals, you’re likely going to need to calculate various basic tax numbers. To make intimidating computations a breeze, memorize the formats of basic tax calculations for people and various varieties of businesses.
5. Figure out how to budget your time (and know when you should skip questions)
The Enrolled Agent Exam is timed, meaning you'll want to budget your time and effort to finish the complete test inside allotted hours. Taking practice exams and learning to don't is vital; you ought to consistently be examining the time and ensuring you’re on target to determine every question. It's also advisable to attempt to budget time at the end for questions you skip, and also think of a technique for skipping.
It’s very easy to get caught up on complicated calculation questions, and there’s a high probability you’ll come upon questions which can be completely from left field. As an alternative to spending extra time attempting to figure them out, skip and proceed to questions you need to do know. You are able to circle back as time allows.
Within your practice exams, one factor Surgent exam coaches observe is how allowing a tough question to discourage you'll be able to result in missing subsequent questions. Saving these frustrating questions for that end can prevent you some wrong answers. Your testing mindset is key to success!
Willing to start studying?
As an enrolled agent will enhance your confidence like a tax professional, letting you prepare tax statements and represent taxpayers prior to the IRS with conviction. Start using these 5 ideas to help you pass the EA Exam and have on your journey to your career being an EA.
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