Posts tagged: EA Exam

Keeping Up the Pace – EA Review

May 9, 2013, by No comments yet

Written By EA Blogger Katherine K.

Today I completed Study Unit 2, Gross Income. I feel like I have made it through one of the toughest study units. I know that properly identifying taxable income is basic to all tax preparation and that the Gleim materials are very thorough. I also have a tip for anyone studying this section: Clear up the meaning of terms and concepts as thoroughly as possible. I took extra time to do this and it was worthwhile. I am now maintaining an average test score of 80%, even when I include the score for my first exam in each study unit. The score for the first test is usually much lower because it is taken prior to studying.

The questions in the true/false and multiple-choice exams helped direct my attention to areas of study I had not fully understood, and they also helped to clarify the information. I learn a lot from the exams and the review! I am actually enjoying my studies now, which I attribute to the system wherein one approaches the subject and has the opportunity to interact and then review.

Another useful aspect I have found is that the true/false and multiple-choice exams are timed. I didn’t think much of this at first and was even a little annoyed. Now, I realize that the timing aspect forces me to keep a certain pace through each exam. This pace is what I will experience during the real EA Exam!

I am currently working in sales during the off season (tax) and will be traveling from New York to Florida over the next month. I plan to bring my laptop with me and get through the remaining 11 study units by mid June. I am so excited about finally getting my EA certificate this year! My employer in my tax prep work wants me to obtain my EA certificate by September, so I know I need to keep up the pace.

I also discovered that I will be able to do a final review the week prior to sitting for the EA exam with an “Exam Rehearsal” and “Online Test Prep.” It’s so relieving to be taken through these studies by Gleim and not have to worry about what and how to study.

 

Back to EA Review After Tax Season

May 8, 2013, by No comments yet

Written by EA Exam Blogger Katherine S.

 

I find that it is now easier for me to do my tax research since I have been studying my Gleim EA materials. The intricacies of tax code seemed formidable in the past, but now I find myself digging in and studying whatever is needed to get information for the tax return. This may also have to do with the fact that I have gotten a lot of experience this tax season by preparing over 300 tax returns. I am definitely feeling more knowledgeable and confident. I work with a great bunch of tax preparers who have helped me get through some difficult times this tax season. I am very excited about becoming an Enrolled Agent this year! Every other tax preparer in my office is an Enrolled Agent or CPA. They are expecting me to obtain my certificate this year. I feel very fortunate to have found a program like Gleim to help me achieve that.

 
I spent some time last night reading the Gleim book at home and taking the quizzes at the end of each section. I like the fact that you only read a short section and then immediately take a quiz on what you studied. The questions are very involved at times, developed to really make a person think about the details that they just read. I find that I am unable to read through the material without using the information thoroughly, and by using the information thoroughly, it is retained!

 
I haven’t had a whole lot of time to study lately because it is the peak of tax season. I am busy preparing returns from 8:30 am to 7:30 pm and just want to relax when I get home. I have put my Gleim EA book by my bed, however, and plan to spend time each night this week reading and taking the quizzes for each section. This will definitely help, and I will be making some progress while I am so busy during tax season.

 
Katherine Spurger

 

Tax Season & EA Exam Prep

April 16, 2013, by No comments yet

 

 

Written By Guest Blogger Katherine S.

 
Even though tax season is at its height, I took the time to study my Gleim EA materials. I am so glad that I did! I did a review of filing requirements and discovered some very important information relating to dependents. I always seem to learn something new whenever I study filing requirements.

I appreciate the gradient approach to learning with Gleim. The first quiz is always very enlightening, and I usually discover that I have a lot more to learn than I thought I did! After taking the quiz, I go through each missed question and get the correct information. I’m finding that this is a great way to learn. I acquire a much better understanding by looking at each question. There may be details that I missed, which then become clear to me. This ensures that I will not miss a question because of those details next time. It also gives me a more interesting and interactive method of learning. I am able to keep my interest at a much higher level than if I were just reading the material and not interacting with it.

The quiz also prepares me for the next section and gives me a higher awareness when I study the overview. I enjoy this material because it covers general information and is easy to assimilate. I don’t get bogged down in the details. I go through the main points and get some basic understanding of that section. This, again, is a great approach to learning. I know I would not do as well if I just sat down and read the study section.

Reviewing my results right after the quiz allows me to find all the correct answers to the questions that I just missed a second time. This makes my awareness of those questions very high. Again, I feel that I will not miss these question the next time I see them.

I am very impressed so far with this method of study by Gleim and look forward to becoming an EA this year!

Katherine S.

Beginning To Study For The EA Exam

April 11, 2013, by No comments yet

 

Written By Guest Blogger Katherine S. For the Gleim EA Blog.

I just received my Gleim EA Review materials and have begun my studies. I was very happy to find out that I will be able to take an Exam Rehearsal for EA prior to taking the actual exam. In addition, there are over 3,600 EA questions that can be used and studied within practice exams throughout the EA study materials. I am already feeling relieved. In past studies, I have discovered that the more you go over the materials and the more you can practice, the better you understand the material. It has to be more than just memorizing facts. I have found that in order to be successful, you really need to gain an understanding of the material by going over it more than once and using the information. I like the fact that I can do more than just read a book. I know that the practice exams will make a big difference for me. I am truly excited about studying and using this system!

The Gleim A System for Success book explains the complete process of studying and preparing for the EA Exam. It is always nice to have someone “hold your hand” when embarking on a new adventure, and that is how I feel having these materials. From what I have studied so far, I can see that the materials are well presented in an easy to understand format. The language is not unnecessarily complicated.

I am currently extremely busy because it is tax season and I am a tax preparer. I have already prepared 200 tax returns this tax season. I have been asking the more experienced EAs and CPA in my office many questions. I look forward to the day when I don’t have to ask them any questions. I believe getting through the Gleim EA Review will accomplish that for me. I have always worked to be the most competent I can be and I am counting on these materials to help me accomplish that.

I took my first practice exam recently. It was very eye-opening, and I now have a better idea of what is expected and what I need to study. I was able to grade my exam immediately and study the questions that I missed. Over the next few weeks, it will be hard to get my study time in (while preparing taxes), but I plan to study as much as possible. I know I will need to be disciplined to get through it!

 

 

Welcome EA Guest Blogger Katherine S.!

April 10, 2013, by No comments yet

 

Written by Guest Blogger Katherine S. for the Gleim EA Blog.

 

I decided to take the EA exam after meeting other Enrolled Agents with successful tax preparation businesses. I could see the immense value of having such a credential. I also saw a co-worker fly through her studies with Gleim, so I knew I could do it too!

 

I recently purchased the first part of the study materials and was very impressed with the ease and thoroughness of the course as I went through it. The opportunity to take practice tests was extremely helpful! I loved the way I could study by reading, listening, watching, and taking as many tests as needed. I was even able to contact a Personal Counselor at Gleim (with a fast response time) to clarify some of the materials!

 
I have work experience in tax preparation and have recently begun my 6th tax season. I am currently a CTEC in California. Prior to becoming a tax preparer, I ran small construction businesses with my husband in Oregon and Washington. With our kids grown up, I decided to go back to school and learn as much as I could about my new career in accounting. I attended Eastern Oregon University from 2009-2010 with a major in Business. I soon found out that getting a full degree in accounting was not necessarily what I wanted and saw that there were other opportunities to get where I wanted to go.

 

I have a very good idea now what it takes to obtain a CPA certificate. I also know that I would rather work in tax preparation, helping clients overcome their problems with the IRS. I also know that the fastest way to that career is obtaining an EA certificate after studying with Gleim. I am very excited about my new career and know I will make it as a tax professional. If I ever do decide to become a CPA, I know having an EA certificate will only make that journey easier, and I know that I will be back with Gleim getting the help I need to obtain that certificate.

 

Is Becoming an Enrolled Agent Worth It?

April 2, 2013, by No comments yet

Written By Guest Blogger Nicole G. for the Gleim EA Blog.

The moment others find out that you are an Enrolled Agent, the first question they will ask you is “How much do you charge?” It’s like asking “How much does a home cost?” Obviously, a 1,500-square-foot home in Florida does not cost the same as a 1,500-square-foot penthouse condo in New York City. The same concept applies to Enrolled Agents. The best answer to the question is “it depends.” For example, someone who has a simple tax return can pay as little as $175 in preparation fees. On the other hand, a client whose return takes days to prepare will cost a lot more.

As an Enrolled Agent, there are a couple of things that you need to keep in mind. One of those things is the importance of building a relationship with your client. By working with the same clients year after year, you become familiar with their situations and can quickly identify discrepancies. Last year, one of my returning clients told me she bought her first home. This tax season she contacted me and said she had received her W-2 and was ready to file her income tax. This client did not realize that her tax situation had changed and that she would be able to itemize her tax return. I advised her to also provide me with copies of her mortgage and tax statements. She was ecstatic!

A second thing is that, as an Enrolled Agent, you also get to be a consultant. Your advice can be beneficial to clients, especially when making major tax decisions. For example, another client of mine decided that he wanted to purchase his first home. In order to do so, he would have to withdraw the down payment from his 401k. My advice to him was to do a rollover of his IRA to avoid paying the early withdrawal fee of 10%. (exceptions and limitations apply).

The bottom line is this: By choosing to embark on a career as an Enrolled Agent, you will be keeping up with the tax laws and tax changes. You will be able to analyze the taxpayer’s tax situation and find tax saving opportunities that will not only help them now, but also help them to plan for subsequent years. My experience is that clients appreciate an educated and efficient tax preparer. If you are able to advise and make tax recommendations, clients will admire and appreciate you. As a reward for your service, clients will recommend you to their friends and family. I can’t think of a better way to build your practice!

 

Final Thoughts On The EA Exam

February 12, 2013, by No comments yet

Written By Guest Blogger KP.

I have a few final thoughts about the last EA exam I took; the main one is to not study more than you need to! Make sure you have adequate time to prepare. I was way too busy in September and October when I first started studying for this exam, so I would only get through maybe half of a section a week (out of 20 sections). When I really had time to study again in November and December, I was forgetting a lot of the information I had studied in September and October. This meant that I needed to study it all over again! For Parts 1 and 3, I crammed for 6 weeks (any free time I had beyond grad school and work was spent studying), and it worked very well. For Part 2, I spent four months studying, but I really only effectively studied for the last 6 weeks of that time. Essentially, I wasted 10 weeks worrying about studying!

 

I also knew that since there was so much information for this section, that I had to study in a couple different ways for my final review. For the online parts, I did the sections out of order. I feel like when I studied everything in order, I knew exactly what questions were going to be asked ahead of time (partnership details first, then partnership basis, then partnership distributions), so I had the answers almost programmed in my head. However, when I mixed it up in the online review, it forced me to really know the information and very much simulated an exam session. Therefore, during the exam I wasn’t wasting any time trying to figure out what the question was asking. Instead, I was just making sure I wasn’t missing any exceptions or seemingly “minor” rules.

 

The other thing I did was make sure to not gloss over the “easy” stuff during Part 1 of the exam. I spent so much time making sure that I knew every little rule and every dollar amount for every deduction/credit, but I realized that there were some very easy questions that I questioned myself on. I glossed over those parts in my studying because I assumed there was no way I would forget that stuff! Well, during an exam, you will be surprised what can leave your mind. Therefore, don’t forget to understand the basics! These are the easiest points and they will be on the exam! Good luck studying!

 

Contest: Win Access To EA Gleim Online!

January 30, 2013, by 4 comments

 

Enter our contest to win access to EA Gleim Online for Part 1, Part 2, OR Part 3!

 

What Is EA Gleim Online?

EA Gleim Online – Part 1 is a versatile, interactive, self-study review program delivered via the Internet that also provides access to a Personal Counselor. You will have access to EA Gleim Online for 12 months.

Learn more about EA Gleim Online and the rest of the EA Review System here!

 

How Do I Enter The Contest?

Simply leave a comment below stating why you would like to become an EA and why you think Gleim will help you achieve your goals.

An objective committee will decide the winner based on the best, well-thought out answers provided in the comment section below.

 

The Details

EA Gleim Online has no return value and may not be returned for cash if won. Gleim may use your comment to help inspire other accounting exam candidates on our social media and blog.  Gleim must receive a minimum of seven entries to award the prize to a winner.

Comments on this blog post must be received by February 8th, 2013, 11:59 pm EST.

 

Using RTRP To Help With EA Exam Studying

January 22, 2013, by No comments yet

 

Written By Guest Blogger Danielle C.

I feel good this week, and I have a lot of motivation moving forward! I know this may sound crazy, but I have decided to study for the RTRP. I have decided to pass the RTRP exam because it is focused more on individuals. Studying for the RTRP will also help me be better prepared for the EA exam. I feel like it will help me to have both certifications! It also includes the CE credit hours that I need. My plan is to pass both tests by the end of the year. However, if it comes down to the wire, I will push the EA exam back to late January. I am very excited and very motivated, especially now that I have a date in mind. I will let you know in a few weeks if I recommend this path or if I’m just in way over my head.

I went back to Study Unit 9: “Business Property, Related Parties, and Installment Sales.” For some reason, this study unit is just not sticking. I understand the key concepts, but the little details are what keep getting me. When I finish studying, I feel good about it. When I go back to review it, I feel discouraged because I get it wrong. Study Unit 7: “Basis” is the same way. When I finished studying it, I felt good about it. When I went back to review, I tended to get those questions wrong too. I haven’t gone back yet to re-study it, but I plan to do that this week. I hope to get the last few study units finished this week. That way, when I am studying for the RTRP, all I have to do is review the material, concentrate on my problem areas, and try to get all the details down!

I hope your studies are going well!

 

Finished With All 20 Study Units & Ready To Be An EA!

January 17, 2013, by No comments yet

Written By Guest Blogger KP.

I made it through the entire book . . . all 20 study units! I finally finished my reading for the Businesses section of the exam. I cannot tell you what a relief it is to be done with this. These past few months have been very difficult for me with work, grad school, job interviewing, and trying to finish my last EA exam before the end of the year. I now have the software questions and the online studying left, but these parts have always gone pretty fast for me. I seem to retain information very well, and I am hoping it takes only a few weeks of final review. I start my new job soon and would love to have the exam done a week or two before my first day.

Once I finish the online and software questions, I always go back and quickly read through the book again to refresh my memory. However, the Businesses book is nearly 500 pages long, so I will not have time to do that this time around. Therefore, I really want to make sure I am keyed into only the important concepts. I am glad that I have been highlighting the important concepts in the reading material, which were covered by the review questions. I am just amazed at how much material there is in the Businesses section, and I am really curious about what will be on the exam. I felt like I was really prepped for the first and third sections of the EA exam by following the Gleim 3-part system, and I am feeling confident that the second part will be the same. I am just nervous because everyone calls it the hardest part! Oh well, I am almost there!