CPAWannaBe
offlineMember
After I took the REG section, I took all three parts of the Enrolled Agent exam while it was still fresh. I passed. Has anyone else ever taken the EA exam? I figure it couldn't hurt, especially if I couldn't pass the CPA.
CA_CPA
offlineMember
CPAWannaBe - I know this post is rather old but I've seen you post recently.
Did you buy any materials in addition to your REG book? I took REG at the end of November and think I may just sit for at least one part of the EA in the coming month. Which part did you find easiest given the REG material?
Thanks for your input!
Allyson
offlineMember
This is CPAWannaBe,
I just can't get in under my old account.
I took the Individuals part first since I do mostly 1040s for a living. Then I took Corporations while REG was still fresh.
email me allyson1967@bellsouth.net if you have any questions because I am having trouble posting on here.
No, don't buy any extra materials! Just use your CPA study guide and the old exams found on the IRS website.
VAactgGrad
offlineMember
@Allyson,
Rather late, but CONGRATS ON FAR!
@CA_CPA
I passed part 1 of the SEE exam on 12/24 after 2 weeks of prep time with a Gleim book that my employer purchased for me. (Good thing because my girlfriend had broadcasted my taking the SEE and the exam’s speedy score release. I definitely didn’t want to create unwanted conversation topics over Christmas dinner.) I didn't have time to use the other preparation resources that came with the Gleim EA package. I agree with Allyson that majority of SEE part 1 is covered in the Becker book. In fact, some of the becker mnemonics really helped during my SEE exam especially on the AMT questions. Becker’s text covered all of the topics tested, but Gleim’s text goes further in depth on some of the topics.
I think you can perfectly supplement your Becker book with the IRS resources and pass part 1 of the SEE. If you want the info to be organized then buy just the Gleim book would be sufficient. Note that the SEE is still testing 2009 tax codes through 2/28/11. Depending on when you studied for your REG, you may have used the updated 2010 info from Becker’s website. Be sure to adjust the figures back.
The SEE exam emphasized the $ limits and phase-outs more than the CPA exam. Be familiar with IRAs including calculating the basis, penalties, excise tax on excess contributions. You can find this on the IRS site. Becker does a good job with the phase and other dollar limits but make sure you know them. Go back through the AMT section too. Also, wouldn’t hurt to know how to calculate alimony recapture and passive activity income. Becker covered most of the other topics fairly well, but you may want to review the SEE objectives and look up requirements on the IRS site for items that you aren't familiar with/or are not covered. There are 100 questions to be completed in 3.5 hours so you’ll have plenty time. I finished with 1 hr and 40 minutes to spare. The questions are a mix between calculation and rules/concepts. Some are “gimmies” while a good number are fairly specific. Good Luck!
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