Taxpayers who itemize deductions commonly ignore an advantage they have when incurring a casualty or theft. An amount of loss from these events is deductible. The steps to follow for this deduction de
As a tax practitioner, you will encounter individuals in all income groups with installment sales. The complexity of considerations for such taxpayers is a significant opportunity for an enrolled agen
One of the most important cases where your tax preparer certification provides value is to individuals with uncommon miscellaneous income. Taxpayers will often neglect to report unusual types of incom
Taxpayers with LLCs are ideal prospective clients for enrolled agents. There are many tax matters that these business owners fail to correctly address unless they obtain professional assistance. Marke
There are a lot of taxpayers recently receiving notices about forgiven debt. And the trend has no signs of ending soon. Financial institutions use Form 1099-C to identify any debt cancellation exceedi
In addition to using your expertise as an enrolled agent to represent taxpayers with IRS problems, there are many other situations requiring your help. Enrolled agents prepare plenty of tax returns ev
Both the wealthy and the not so wealthy are inclined to incur tax complications from gifting. Sometimes property is transferred upon death and other times the transfer occurs while the donor is still
The income tax course training you receive as a tax preparer of federal returns permits you to assist people with California income tax. State registration as a tax preparer in California is only requ
There are so many tax rules and guidelines to follow for the self-employed that they almost universally utilize the services of a tax professional. When you become a tax preparer you can build a busy
Little tax issues seem to cause the most confusion and the greatest tax bite when not properly addressed. Your job as an enrolled agent is to provide the highest level of tax knowledge. This helps peo
