[Teddybear91]

I realize it may seem silly to post this on a cpa exam forum but I was wondering if there was any merit to opting for an EA designation instead. Thoughts?

[Missy]

You are spot on. But both being qualified to prepare taxes does not mean that they are the same.

Both doctors and nurses are qualified to give shots but that doesn't automatically make a doctor a nurse 🙂

Old timer,  A71'er since 2010.

Finance manager/HR manager

 

 

Licensed Massachusetts Non Reporting CPA since 2012
Finance/Admin/HR Manager

[Stilgoin]

That is true. CPAs have many more hoops to jump through. Honestly, I don’t even know why I jumped down this rabbit hole. Haha. Studying FAR is getting to me- and not in a good way!!!

Stilgoin, CPA

There are enough critics. Be an encourager

B | 62, 78
A | 73, 67, 79
R | 82
F | 59, 59, Waiting

Ethics | 93

"Success is not final, failure is not fatal: it is the courage to continue that counts."
~Winston Churchill

“In a world full of critics, be an encourager."

[PleaseDontDeleteThanks]

I'm studying for the EA now that I'm licensed as a studying tool. I haven't touched anyone's tax return (besides my own) in nearly 10 years, and my lack of knowledge scares me.

I'd like to get a job in an accounting firm somewhere learning tax, and keep performing audits. I'm on Monster.com, and thought about going Robert Half maybe? Eh.

FAR 72, 89
BEC 80
REG 90
AUD 79

[Anonymous]

Here we go again with the hiring manager? I'm speaking of real world experience and knowledge of how the business works..I love MR. MLA always running his mouth on issues with public when he doesn't work in public accounting and never has.

No I never said a CPA is more qualified in regards to doing taxes..certainly a CPA working in Audit or governmental will not know anything in the likes.

But a CPA working in Tax and running a tax business will always be more educated then an EA that does..

Go to any public accounting firm and speak to the tax people..they require you to be a CPA for a reason to advance..not an EA due to the complexitry of issues.

The EA is an easy exam to pass compared to the CPA..there is more to doing tax planning then simply doing takes..especially for partnerships and corporations. Straight from the IRS website an EA specailizes in individual taxation..maybe try doing some research on matters before spouting off at the mouth.

As far my uncle goes he built a business 40 years ago..its a whole different ball game today dealing with competition of Technology and Retail stores.

And yes in all reality I do think both exams are creditials are a joke just like MBAs and college degrees…My uncle had an associates degree.

[Missy]

It's Mrs MLA.

Old timer,  A71'er since 2010.

Finance manager/HR manager

 

 

Licensed Massachusetts Non Reporting CPA since 2012
Finance/Admin/HR Manager

[m1bunny]

You know, I'm an Enrolled Agent. I have been for the past 3 years and it's done nothing but get me ahead. I passed the exam and still got a raise at work, a promotion, and more specialized/interesting work preparing real estate & partnership returns (NOT personal income tax).

I started my own side business that is successful as well. I do returns for personal, partnerships, and even a few corps. It's some nice little side money for me that helped me buy a car when mine finally kicked the bucket and helped put the down payment on my house.

Additionally, it really helped me when I studied for REG.

[Missy]

Bunny that was my.point. I'm a licensed cpa and you've got much more tax knowledge than I do. I can admit that (even without public experience I'm qualified to speak to my.lack of tax knowledge lol) and of the hundreds of cpa's I know unless they worked a good stint in tax have more humility than people trying to get their license and think they're something for saying most ea's aren't that bright. Truth is most are bright. My areas of expertise are in cost accounting and financial statements and I'm perfectly happy to defer to anybody with more experience than myself when it comes to tax regardless of which certification they hold.

Old timer,  A71'er since 2010.

Finance manager/HR manager

 

 

Licensed Massachusetts Non Reporting CPA since 2012
Finance/Admin/HR Manager

[Anonymous]

M1bunny..congrats glad to hear you have more gall then 99 percent of the losers posting on this website..I wish you all the best with your future.

Ive got my own side business going as well and have neither certs but will be done with the CPA by end of year..I just cant bill obviously high..theres a saying that goes sell the story not the product..meaning you don't have to have the experience of someone with 20 years to run a business as long as you can sell yourself..Coming from a sales background its incredibly true.

Most tax returns Ive done arent super complex as 90 percent of people are ignorant when it comes to taxes..Schedules E and 1065 from the client/partners perspective are not hard nor complex..But from the partnership's perspective 1065 is about as complicated as they come..hence why most managers get stuck with them and no the CPA doesn't go into great depth on those matters..Basis adjustments alone can make your head spin on 1120s and 1065 which is why the IRS has people that work on basis and that it. Me personally When I have my own firm up and running I would want nothing to do with the 1065's unless I was struggling for money.

I never said the EA was worthless..but compared to the CPA it doesn't really hold weight as far as working in public accounting as NO you will not work with most of the same issues

I know multiple CPA's who run firms and work in tax..My uncle himself as an EA of 40 years as well as a few others Ive spoke with have said the same thing in regards to what I stated..Not my opinion..this is what ive been told by them and the dealings between firms of CPAs and EAs

The CPA is not the end all tell all but its weighted more so then the EA and like anything really comes down to the individual at hand. So like I said unless you want to work for a small business doing 1040s and schedules C's as thats the overwhelming amount of tax work that EAs do..the CPA is a better route. The only real worry you have as an EA is outsourcing due to tech and H1B visa

If nothing else as a CPA you can bill at a higher rate due to public perception..and that should be reason enough to do one over the other.

[m1bunny]

Yeah, I absolutely agree that the CPA is more well known and looked more favorably for sure. The only time people are really impressed are when I participate in VITA, and even then it's like getting praise from 6 50-year-olds. I just can't say it held me back or anything, it absolutely got me further in my career. That is, if you're happy to stick to tax for the rest of your life.

I'm not worried about outsourcing or visas really, the majority of my clients like the face to face contact. I live in a fairly young progressive city, so I started developing my relationships with clients early on, usually before they started having large purchases/getting married/investing heavily. I've only advertised once and my client base is word of mouth at this point. I feel pretty secure in it.

I do just hate how people write off EAs, like we're some H&R block sheep who answered a craigslist ad. It has it's own merits. I do agree though, a CPA is much better to have. This is also why I'm procrastinating studying for my BEC exam on Monday by commenting on these forums.

[Anonymous]

We have two ea's at my firm and they r basically useless when it comes to taxes. Which is odd because it is a tax designation. They both seem to know more about accounting then anything tax related. 99 percent of people have never heard of an ea. Bring it up sometime and you'll have to explain what it is to a non accountant and possibly even to a lot of accountants. The irs started this racket to try to establish more oversight and control in the tax prep world. Think about that for a second. U have a government entity that is issueing credentials to unrelated paties that report to them. It's pretty much a joke and around to keep the treasurys interests protected. Its just a way for the irs to have more control over their revenue streams.

I'm sure there are some very knowledgeable eas out there this is my limited experience. Let's be real here. It is pretty easy to get an ea license and it is usually sought after by people who either can't pass, don't meet the requirements, or are just plain too lazy or scared to take the cpa. There is nothing else to say on that matter.

[SamfutureCPA]

how many hours to study for the EA and what would be a good study guide?

[jm962011]

I love how the two individuals who constantly call out others on this forum don't know the difference between “then” and “than”

For the record, it isn't just a one time occurrence from each in this thread, I have seen it multiple times from each. Please don't say spelling and grammar are not import because we are just bean counters. Helllloooo, client interaction and writing research memos.

[m1bunny]

Wow C9p9a9, you sound really pleasant and your ability to associate an entire designation off of your opinion of the 2 EAs you know sounds really well informed. Do you crap on everyone's job this much?

Also, the EA designation came about in 1884 to deal with post Civil War losses. It's not like the designation is something new the IRS just crapped out. It was created to help people and make sure they're not ripped off. Do you know how many bad unregistered tax return preparers are out there who just screw people over? At least this way there are some ramifications if they do it wrong. But hey, you're right, there's nothing else to say on the matter. Your limited opinion is totally the end all be all.

Lastly, yeah, I got my EA designation first. Was it because I was lazy or not qualified or “scared”? No. I wanted to give taxes a shot. The upside is I get a bonus and raise for both exams that I pass.

@SamFutureCPA – I studied about 1 – 2 hours a night during the week. I bumped it up more the week before the test. I just researched reviews of study materials on EA sites and Amazon, but basically just got a book that covered all the material and went through the book.

Man, I actually thought this was a pretty good forum until I actually started reading threads. I think I'll go ahead and retire from them.

[PleaseDontDeleteThanks]

Happy Friday everyone, and happy studying for the EA or CPA. Thanks all.

FAR 72, 89
BEC 80
REG 90
AUD 79

[Martin]

SamfutureCPA, around 16 hours and 20 minutes give or take.

Through God all things can happen!

“You never fail until you stop trying.”
― Albert Einstein
When I was young, I used to admire intelligent people;as I grow older, I admire kind people.
“Just keep swimming, just keep swimming.”

FAR= 72-84
Audit= 73-82
BEC= 74-75
Reg=77

[Author]

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