[Peter001]

Just passed my CPA exam and I am thinking about preparing some taxes on the site. Could you please recommend fairly affordable and good laptop?

Also, Could you recommend good tax software for somebody that is just starting with tax preparation?

Thanks,
Peter

[aaronmo]

I STRONGLY recommend that you work under some other CPAs first…being a CPA may give you the license to file returns (and judging from this, you are not a CPA yet), bu it does NOT give you the real world experience to file returns, or to understand the risk analysis. Additionally, real world, the issues are always local, state, and multi-state issues/credits, and the CPA exam has not prepared you for that. Also – if all you have is a PTIN, and your client has an issue, you are not able to represent them with the IRS.

If you have not worked under someone preparing returns, you are not qualified, and one of the license requirements is that you only do work you are competent to do. You aren't.

AUD - 96
BEC - 84
FAR - 89
REG - 86

Aaron and always remember, YMMV

I profit from your CPE frustration. You're welcome.

[Recked]

Agree on all counts with Aaron, but lets assume you do have relevant experience.
You ‘ll need an EFIN, and a PTIN to get started.
You'll probably also need to register with your state as a firm, depending on your state laws.
Highly recommend some E&O insurance as well.
–
As far as a computer. I've had some good success with Dell. I went with a Latitude 5590 refurb laptop, got it on sale. Don't cheap out on the processor and memory, Win10 is a must.
I run Ultra Tax, because that is what I am used to, but the PRP license is very expensive cost per return. Cheap up front, but the PRP fees get you in the long run.
Drake is a much more affordable option, and they do offer PRP as well.
Intuit has some offerings as well, but no idea on cost, etc.

Memento Mori - Kingston NY CPA & EA (SUNY Albany 2002)

FAR-93 11/9/17 (10wks, 250 hrs, Roger 1800+ MCQs, Gleim TB 600+MCQs, SIMs)
AUD-88 12/7/17 (3 wks, 85 hrs, Roger 1000 MCQs no SIMs hail mary)
REG-96 1/18/18 (6 wks, 110 hrs, 1400 MCQs, no SIMs)
BEC-91 2/16/18 (4wks, 90 hrs, 1240 MCQs)

[aaronmo]

I do a 45/55 split with my old firm (I'm the 45) on “my” clients as a side hustle during the season. What's a normal/fair split? 45 sounded right to me with the administrative support, insurance coverage, software, and paper costs, but I never really asked around, or researched either. The guys have a history of being fair with me, and the numbers seemed reasonable.

AUD - 96
BEC - 84
FAR - 89
REG - 86

Aaron and always remember, YMMV

I profit from your CPE frustration. You're welcome.

[Author]

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