EA Exam

[gmack]

I'm considering the enrolled agent exam. Does anyone have an opinion on one of the many study guides out there? Or would it make more sense to just download and study the IRS pubs listed in the "Special Enrollment Exam Study Kit Materials?"

Also, is it worth the time and effort to become an EA?

Thoughts, Advice?

Thanks!

[Black Bart]

Well,

I'm considering the enrolled agent exam. Does anyone have an opinion on one of the many study guides out there? Or would it make more sense to just download and study the IRS pubs listed in the "Special Enrollment Exam Study Kit Materials?"

I liked Gleim -- got me through the last 4-parter in '05 (never mind by how much). Price wasn't too bad back then though -- around $250 as I recall (I got 4 books & a CD/no online); it's $600 now at the website.

Also, is it worth the time and effort to become an EA?

Thoughts, Advice?

Thanks!

I recommend it because:
a. The certificate looks nice on the wall
b. It makes you feel better around other professionals at tax seminars (even if you don't have any idea what the hell they're talkin' about).
c. It's easier to get transcripts, discuss client problems with IRS, and you can audit rep if so inclined (Heaven forbid & my apologies to erchess, our would-be professional representer).
d. Haven't seen much monetary benefit. Clients seem generally unaware of the designation; to them you're: a CPA/not a CPA.

[Lion]

Agree

I took the exam while a Block employee, so took their excellent course.

But, as far as the second part of your query: I totally agree with BB. You'll have to get tested and have ed req anyway, so why not do it as an EA?! Your clients won't understand, but you'll find it easier dealing with the IRS on their behalf. Good luck.

Oh, and NAEA runs online study courses, I think based on the Gleim materials. Strongly recommend study over time -- whether a class or self -- instead of a crash course before your exam date.

Basis, basis, basis.

[MilTaxEA]

I used Phoenix and it worked really well for me. I've also heard good things about Wiseguides. Of course, Gleim is considered the "gold plated" course and is the best if you're willing to spend the money.

[gmack]

Thanks... I'll check them out. I just don't want to pay for something that just a "reprint" of IRS pubs.

[MilTaxEA]

Well, that's what Phoenix is. Almost each study card is a verbatim quote from an IRS pub or the IRC. However, it allows you to focus into the particular parts of the pubs/code that are important to the test.

Also, the most important part of any study guide are the questions that come along with it. You will think you know something from the pubs, but after you try to answer some questions covering the same topic, you will realize you didn't know it as well as you though.

[MAJ]

EA Exam time

I too am looking to cram for the EA this year. I am on the edge of ordering part 1 from Gleim ($230) -- However - There are other vendors out their such as
a) Fast Forward Academy
b) Exam Matrix
c) Gleim
d) Pass Key

I know GLEIM comes highly rated... Just curious - has anyone used any of the others? Thoughts? Suggestions?

I'm considering the enrolled agent exam. Does anyone have an opinion on one of the many study guides out there? Or would it make more sense to just download and study the IRS pubs listed in the "Special Enrollment Exam Study Kit Materials?"

Also, is it worth the time and effort to become an EA?

Thoughts, Advice?

Thanks!

[MariaR08]

I'm in the same boat - I'm hoping to pass all 3 sections of the EA exam by the end of the year. I ordered the Gleim study materials - books for all 3 sections and the computer software download, total was $270 if I'm not mistaken.

I haven't really dived in yet but I did skim through some stuff and the study material looks great! I'm glad I went with Gleim.

~Maria

[JoshinNC]

I "built" my own study program

I obtained copies of the exam from the prior year from IRS (don't know if you can do this anymore since Prometric administers it now) and took them. Then I self studied the questions I got wrong and then retook the prior year test. Passed 2 out of 3 sections on first attempt (missed 3rd section by 2 points) and then passed it on 2nd attempt.

[marisatz]

Study Materials

My study buddy used Gliem, Phoenix and Fastforward academy. I liked Gleim, my study buddy liked Phoenix and Fastforward Academy. We both passed all parts on the first try.

[Gary2]

For what it's worth, in February I bought a year-end closeout of the Wise materials from Wise via eBay. This got me the 2010 printed material, but with online access through the 2011-12 testing season, and hence, 2011 interactive Q&A, etc. A quick check of eBay shows that they still have some copies.

I haven't seen any competitors, so I have nothing to compare against, but so far, it seems like a good purchase decision. Some of the material parallels the IRS material, but it's not mere repetition.

I do have a couple of practical questions related to the exam: The Prometrics site suggests you need to schedule well in advance to get a date/time/location that's convenient. How far in advance?

Also, I understand that you're not allowed to bring in any materials, but that they furnish either an online or simple handheld calculator. Do they furnish scratch paper, blue books, or anything similar for writing things down?

[geekgirldany]

I do have a couple of practical questions related to the exam: The Prometrics site suggests you need to schedule well in advance to get a date/time/location that's convenient. How far in advance?

Also, I understand that you're not allowed to bring in any materials, but that they furnish either an online or simple handheld calculator. Do they furnish scratch paper, blue books, or anything similar for writing things down?

I scheduled about a month and half with Prometrics. This was so I could get a Saturday afternoon appointment to avoid the traffic. So if you want to go on a Saturday get your appointment well ahead of time.

They will give you a piece of paper and pencil. You then turn it in to them when you leave. The calculator is on the computer. The last test I took they had added on scanning your thumb print into the computer.

[Mo Sheets]

Check e-bay......

I am a CPA and self-studied using Wiley (costs about $195 for the 4 parts). I ended up having to retake FAR and didn't feel confident with Wiley for the Financial Accounting & Reporting piece so I purchase Gleim. Afterwards, I sold my Gleim book and audio on e-bay. You might be able to save some money going that route. I know when I was studying for the CPA exam (there is a year of my life I will never get back...ha...ha), there was quite a bit of Becker/Wiley/Gleim materials for sale on e-bay.

Good luck!

Mo

[origun]

No purchased materials

I didn't purchase anything--just too cheap--and I passed all 3 parts on the first try. I studied Quickfinder, especially Business Edition (as my experience with p-ships, corps, trusts, estates was practically non-existent). That was before I started using TTB so I would presume the Deluxe Edition of TTB would work as well or better.

I found it very helpful to print out tax forms that I wasn't very familiar with (1041, 1065, 1120) and the IRS instructions; some of the actual test questions seemed very similar to examples given on IRS instructions. And it was helpful to have the forms in front of me when studying so I could better visualize what goes where and the data flow . Also, since I am employed by HRB, I used their online courses which were available to me at no charge but took no instructor-led classes.

[Gary]

Wow

They allowed a calculator? All we had was a pencil and eraser.