tag:blogger.com,1999:blog-6318055043707993918.post7413394999460092278..comments2024-02-20T02:12:18.090-05:00Comments on THE WANDERING TAX PRO: WHAT YOU HAVE BEEN WAITING FOR!Robert D Flachhttp://www.blogger.com/profile/06034127763662917220noreply@blogger.comBlogger7125tag:blogger.com,1999:blog-6318055043707993918.post-17875887142208901852012-08-01T06:37:44.039-04:002012-08-01T06:37:44.039-04:00MK-
Sad, but true.
Something must be done to deb...MK-<br /><br />Sad, but true.<br /><br />Something must be done to debunk this "urban tax myth".<br /><br />TWTPRobert D Flachhttps://www.blogger.com/profile/06034127763662917220noreply@blogger.comtag:blogger.com,1999:blog-6318055043707993918.post-8154462323393891532012-08-01T01:58:26.203-04:002012-08-01T01:58:26.203-04:00I didn't see any point to becoming an EA becau...I didn't see any point to becoming an EA because nobody knows what it is.<br /><br />People think that tax = CPA, and if I want people to believe I know how to do taxes, it's the CPA that communicates that to them. I had people calling me their "CPA" before, because to them it means "tax person". I had to tell 2 different websites I wrote guest posts for to remove the description of me as a "CPA". I never said I was, they just assumed that anyone writing about taxes must be one. <br /><br />It's the "uninformed" public that I deal with as clients, not other professionals, and they think CPA means "good at taxes", and EA means video games.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6318055043707993918.post-1488361183686266972012-07-31T13:23:37.956-04:002012-07-31T13:23:37.956-04:00LT-
Thanks for your input.
It is a shame that EA...LT-<br /><br />Thanks for your input.<br /><br />It is a shame that EAs have to waste time and money sitting for the RTRP test to get credibility.<br /><br />Would you support changing the EA designation to ETRP (Enrolled Tax Return Preparer)?<br /><br />Thanks again !<br /><br />TWTPRobert D Flachhttps://www.blogger.com/profile/06034127763662917220noreply@blogger.comtag:blogger.com,1999:blog-6318055043707993918.post-24914398725999176492012-07-31T12:31:29.731-04:002012-07-31T12:31:29.731-04:00Robert -
Thank you for your post. As an EA, I am...Robert -<br /><br />Thank you for your post. As an EA, I am a bit touchy about the CPAs being held out as tax pros. I did some quick calculations of the number of CPAs with PTINs and it is less than 33%, while 89% of EAs have their PTINS. Hardly proof that CPAs are THE tax pros. EAs are required to have a minimum of 24 hours per year of CPE in taxation. Not accounting, quickbooks, systems, etc. but in taxation. As an EA who is acutely aware of how complex and ever changing the tax code is, I average at least 35 hours of CPE per year. I don't know how much time I spend researching, but I know it is easily more than triple my CPE hours. <br /><br />You make a valid point about the public not understanding the EA designation. It really is a shame. Back in the day, when I took the SEE, it was a grueling two day test held once a year. It was, and still is, completely on tax law of all entities and kinds.<br /><br />I will consider taking the RTRP test in order to further prove my worth to potential clients.<br /><br />Thank you.<br /><br />Lori Thompson, EA<br />(and darn proud of those letters :o)Anonymoushttps://www.blogger.com/profile/06435306468383655580noreply@blogger.comtag:blogger.com,1999:blog-6318055043707993918.post-73118854049316849532012-07-31T12:27:57.943-04:002012-07-31T12:27:57.943-04:00Robert -
Thank you for your post. As an EA, I am...Robert -<br /><br />Thank you for your post. As an EA, I am a bit touchy about the CPAs being held out as tax pros. I did some quick calculations of the number of CPAs with PTINs and it is less than 33%, while 89% of EAs have their PTINS. Hardly proof that CPAs are THE tax pros. EAs are required to have a minimum of 24 hours per year of CPE in taxation. Not accounting, quickbooks, systems, etc. but in taxation. As an EA who is acutely aware of how complex and ever changing the tax code is, I average at least 35 hours of CPE per year. I don't know how much time I spend researching, but I know it is easily more than triple my CPE hours. <br /><br />You make a valid point about the public not understanding the EA designation. It really is a shame. Back in the day, when I took the SEE, it was a grueling two day test held once a year. It was, and still is, completely on tax law of all entities and kinds.<br /><br />I will consider taking the RTRP test in order to further prove my worth to potential clients.<br /><br />Thank you.<br /><br />Lori Thompson, EA<br />(and darn proud of those letters :o)Anonymoushttps://www.blogger.com/profile/06435306468383655580noreply@blogger.comtag:blogger.com,1999:blog-6318055043707993918.post-9028069429034489882012-07-30T13:16:04.399-04:002012-07-30T13:16:04.399-04:00MK-
Thank you for your comment.
So there are mor...MK-<br /><br />Thank you for your comment.<br /><br />So there are more questions on the CPA exam on 1040 preparation than I thought - although still minimal.<br /><br />I have a question for you - Why did you become a CPA instead of an Enrolled Agent? Did you have a desire to audit financial statements?<br /><br />I want to emphasize two of your comments - becoming a CPA did not make you any better at preparing 1040s, although being a CPA made you appear more qualified to prepare 1040s to the uninformed public.<br /><br />Thanks again!<br /><br />TWTPRobert D Flachhttps://www.blogger.com/profile/06034127763662917220noreply@blogger.comtag:blogger.com,1999:blog-6318055043707993918.post-54873496022897831242012-07-30T12:50:59.380-04:002012-07-30T12:50:59.380-04:00Not allowed to speak as to what's on the CPA e...Not allowed to speak as to what's on the CPA exam, but of the 4 exams, only one (Reg) covers taxes, and that's along with other subjects such as business law and securities regulation. I can say that in my review study book for the Reg exam, 130 pages out of 639 were devoted to individual income tax.<br /><br />I was doing income tax preparation as an unenrolled preparer before I got my CPA, and the CPA didn't make me any better at it. It does make me appear more qualified to do taxes, rightly or wrongly. I also appreciate the ability to order transcripts and get a power of attorney to talk to the IRS, but I don't see why RTRPs shouldn't have those abilities too.Anonymousnoreply@blogger.com