Janitor Bob Posted April 16, 2012 Report Share Posted April 16, 2012 I have been doing taxes for 12 years, but I am not a CPA or EA.....Just a guy who does import/export and some taxes for a company full-time. Individual tax prep, I have always done on my own out of my home in my spare time. Due to costs and mainly time contraints from my full-time job, I never bothered to study for and take any exams, such as EA or CPA. For the same reasons, I never followed any strict CPE requirements...I always just studied on my own to stay fresh on various tax topics. Now that is all different....I need to take time off work pay to take the RTP exam (after I pay for study materials from someone), then continue to miss work and pay for CPE credits throughout the year. I am a single father with a full-time shipping Manager job...barely able to pay for his kid's college tuition....how am I supposed to find the money for this? seriously looks like my days as a preparer will be over soon....anybody want 150 clients? Quote Link to comment Share on other sites More sharing options...
Lion EA Posted April 16, 2012 Report Share Posted April 16, 2012 IRS has free webinars, and they're archived, so you don't even have to watch them live. TaxTalkToday has a package deal for credits for the whole year. If you belong to any professional organizations, they may offer inexpensive seminars. If you belong to any national organizations, such as NAEA or NATP, you may find CPEs from reading their publications, taking an online or mail in test, and paying a small fee, and many offer webinars you can take on your own time. Your software company may offer free &/or low cost CPEs. Your company may reimburse for education if you can make a case for your skills helping the company. The initial test will be an expense and time consuming, but it's a one-time deal. Many seasoned tax preparers have passed it with no additional study. The next window (starting May?) will use 2011 tax law, so take it soon while preparing returns is fresh on your mind. Look at the example you'll be setting for your kid, that Dad never stops learning and improving! Quote Link to comment Share on other sites More sharing options...
frazzled Posted April 16, 2012 Report Share Posted April 16, 2012 You only need to miss work once for the exam (if you pass on the first try, and you shouldn't have a problem.) As for the CPE, there are ways to earn CPE without leaving your office, and some can be free. Be positive - and raise your rates to compensate for the increased costs. I am a lot like you! I have been doing taxes since 1998 and I am not a CPA or EA. In 2003, I quit my job as Group Leader over Shipping, Receiving, and Material Handling at a second tier auto components manufacturer to focus on my tax business. I have also thought of throwing my hands up and going back to a W-2 job, the last few years have been frustrating. I am scheduled to take the RTRP exam on May 3rd. If I do not pass on the first try, I may dust off my resume! Maybe sell out to H&R Block.... they do send me a letter every year....hmmmmmm Quote Link to comment Share on other sites More sharing options...
Lion EA Posted April 16, 2012 Report Share Posted April 16, 2012 You two join with others to form a virtual study group. Maybe a recent test-passer would be your group leader. Quote Link to comment Share on other sites More sharing options...
OldJack Posted April 16, 2012 Report Share Posted April 16, 2012 The President appoints the head of the IRS that determines the rules... who did you vote for? Quote Link to comment Share on other sites More sharing options...
frazzled Posted April 16, 2012 Report Share Posted April 16, 2012 The President appoints the head of the IRS that determines the rules... who did you vote for? LOL - I voted for the other guy! :rolleyes: 1 Quote Link to comment Share on other sites More sharing options...
Elrod Posted April 16, 2012 Report Share Posted April 16, 2012 I voted for BO, but he doesn't run the IRS..... I Do..........and I ain't gonna take it anymore. I'm Outta Here. Quote Link to comment Share on other sites More sharing options...
Cathy Posted April 16, 2012 Report Share Posted April 16, 2012 JB, Don't do what I did....pay 100% of 1st son's college. He graduated and bought a Corvette convertible. His buddies who were doctors and lawyers kids went job hunting and found high paying jobs to start paying back huge student loans! My son dilly dallied and went into law enforcement and would be better off today had he gone straight into law enforcement rather than going to college (6 years at that). Cathy P.S. If son hasn't filled out a FAFSA already, get him to do it right away! Quote Link to comment Share on other sites More sharing options...
GLJEANNE Posted April 17, 2012 Report Share Posted April 17, 2012 Hey JB, From everything I've heard, the test will be a piece of cake for anyone with your experience. It's all on the computer, "open book." And there are plenty of online or self-study courses you can take for the CPE. It is an added cost, but hopefully you can raise your rates. Quote Link to comment Share on other sites More sharing options...
joanmcq Posted April 17, 2012 Report Share Posted April 17, 2012 See if there are any local group like the CA Society of Tax Professionals in your area (or an NATP chapter). CSTC meets every month for dinner & 2 units of CPE. It's a great way to get CPE and network with local tax geeks. Cost for our chapter is $25 for members and most of that is for the meal. And meetings are in the evening, so you don't have to lose work. Just look around, you'll find all the CPE you need for a reasonable price. And I hate self-study..give me a webinar or seminar any day. Quote Link to comment Share on other sites More sharing options...
Gail in Virginia Posted April 17, 2012 Report Share Posted April 17, 2012 Our local chapter of enrolled agents has been meeting monthly (except during tax season) for a lunch meeting with one hour of CPE. We chose our own topics and one of our members or someone in the community with special expertise would provide the instruction. We were authorized under the Virginia Society of Enrolled Agents to provide CPE as long as we submitted the speaker's notes and the sign in sheet to the state chapter. It is my understanding that we will no longer be able to be that flexible in our presentations. We either use pre-approved lectures or must submit our materials in advance for prior approval to qualify for CPE with the IRS. Just wondering if anyone else was familiar with how the new standards were going to work in this respect. Quote Link to comment Share on other sites More sharing options...
Crank Posted April 18, 2012 Report Share Posted April 18, 2012 And, the major CPA firms ... Well at least Deloitte, Grant Thornton and PWC offer free webinars. Deloitte has one or two almost every Monday-Thursday usually 1 - 1.5 hours long. I already have> 50 hours this year an have met the 8 tax CPE and about 1/2 of the 16 accounting CPE. I need 80 every two years and at least 20 in a year. Quote Link to comment Share on other sites More sharing options...
joanmcq Posted April 18, 2012 Report Share Posted April 18, 2012 I've attended a few of our local NAEA chapter meetings/CPE too. I'm not an EA, but the CPE is good, and I'm not the only CPA I've met there! Also, the American Society of Women Accountants (and you don't have to be a woman to attend or be a member!) One of my new clients (CPA, but not a tax CPA) is interested in attending those to get her CPE. BTW, Bob, I like your new picture better than the old one. The kewpie doll always gave me a startle...it was kinda creepy. Quote Link to comment Share on other sites More sharing options...
GeorgeM Posted April 18, 2012 Report Share Posted April 18, 2012 I have been doing taxes for 12 years, but I am not a CPA or EA.....Just a guy who does import/export and some taxes for a company full-time. Individual tax prep, I have always done on my own out of my home in my spare time. Due to costs and mainly time contraints from my full-time job, I never bothered to study for and take any exams, such as EA or CPA. For the same reasons, I never followed any strict CPE requirements...I always just studied on my own to stay fresh on various tax topics. Now that is all different....I need to take time off work pay to take the RTP exam (after I pay for study materials from someone), then continue to miss work and pay for CPE credits throughout the year. I am a single father with a full-time shipping Manager job...barely able to pay for his kid's college tuition....how am I supposed to find the money for this? seriously looks like my days as a preparer will be over soon....anybody want 150 clients? I think I read somewhere that the test must be completed by 12/31/13. If this is correct I will have one more year and someone can have my 65 clients. I do not believe it is fair to long time preparers to have to take a test now. I have done taxes for over 40 years and never had one audited. I have never taken any CPE credit courses, and when I see some of the questions posted on this board, from so called tax preparers and accountants, I know why the IRS is doing this. Only my 2 cents Quote Link to comment Share on other sites More sharing options...
JRS Posted April 18, 2012 Report Share Posted April 18, 2012 >>when I see some of the questions posted on this board, from so called tax preparers and accountants, I know why the IRS is doing this.<< The questions that really scare me, are the ones posted on the "official" board. Quote Link to comment Share on other sites More sharing options...
Lion EA Posted April 18, 2012 Report Share Posted April 18, 2012 But, if you've had success for 40 years and can marvel at the lack of knowledge of others with professional designations, then you'll ge through an open-book test just fine. There's lots of free CPE out there to do what you have to to meet the requirements. No need to quit. Your clients want and need your care. Nothing much will change much for you, after that one day taking a test -- and it's just sitting in front of a computer like you do all tax season! 1 Quote Link to comment Share on other sites More sharing options...
GeorgeM Posted April 18, 2012 Report Share Posted April 18, 2012 Thre's lots of free CPE out there Where do I find all the free CPE? How many credits will I need? Quote Link to comment Share on other sites More sharing options...
Lion EA Posted April 19, 2012 Report Share Posted April 19, 2012 I think it's 15 CPEs/year for RTRPs, but you'll want to confirm that. IRS gives free webinars all year long; watch them live or archived. Tax Talk Today is inexpensive if you buy a package. Your software company may provide a few freebies as well as paid courses. Professional groups have education, often with a meal, and networking opportunities. Some brokerages give free CPEs. Tell us where you live, and someone will have suggestions for you. But, the webinars can be attended from the convenience of your computer. http://www.irs.gov/taxpros/article/0,,id=99008,00.html Scroll down to the links under Upcoming Events. Quote Link to comment Share on other sites More sharing options...
GeorgeM Posted April 19, 2012 Report Share Posted April 19, 2012 I live in SE CT Quote Link to comment Share on other sites More sharing options...
LisaAnn Posted April 19, 2012 Report Share Posted April 19, 2012 No need to worry about the test; I took it yesterday the 18th, while everything was still fresh, and passed! Yay! The worst part was that the 1040 instructions and Pub 17 were online and not a hard copy......I guess I'm from the old school and like to flip through the booklet! Quote Link to comment Share on other sites More sharing options...
Lion EA Posted April 19, 2012 Report Share Posted April 19, 2012 The CT chapter of NAEA, CtSEA, usually meets in Cromwell. The CT chapter of NATP meets far east of me also. I see a number of courses in the greater New Haven area and up 91, and get emails from RI events and LI. My favorite group is the NY/CT-ATP. Dues are only $60/year, $50 if paid on time. Dinner meetings with 1-2 CPEs are $30 with great food (including prime rib carving board) and great networking and great education, six per year. But, if you attend the December seminar, they rebate $20/meeting attended !! I think you get the first dinner meeting free when you join. All day October seminar and two-day December seminar priced accordingly and include all meals. They give scholarships; I got $250 two different years, so was in the black on those memberships! Monthly meetings are in Bethel; December seminar in Danbury; both locations off I-84 (I spent the night for $80 in December to save driving). I love the networking, especially the NYers. They have a great website and message board. Members can look up members by their specialty or the software they use or.... You can check out the public part of their website at http://nyctatp.org/ Quote Link to comment Share on other sites More sharing options...
joanmcq Posted April 19, 2012 Report Share Posted April 19, 2012 I'm afraid of the statement 'I have never taken any CPE'. CPE is one way of finding out what you don't know, which IMHO is just as important as knowing what you do know. Just got a new client I'm amending...said preparer 'was about 70 years old and got the deer-in-the-headlights look when asked if the non-working same-sex spouse could be taken as a dependent'. And they are in CT, where civil unions have been in existence for quite a while, and doesn't have any of the community property issues we have here in CA. Quote Link to comment Share on other sites More sharing options...
GeorgeM Posted April 20, 2012 Report Share Posted April 20, 2012 I am from the old school, did 50 to 60 returns by hand and it was in a fishing city, where some people have 15 to 30 W2 forms and I worked full time as well. When I diden't know something you have to go reading or advise a client to go to a well qualified CPA for the one year. This worked out a few times, they went and came back to me the following year. To day it is a lot easier with the internet, you need a pub for the IRS you download it, back then you had to order the package X and the pubs from the IRS you had to have a lot of office space , today its just a computer and a printer and your all set. CPEE was unheard of back then. Quote Link to comment Share on other sites More sharing options...
Lion EA Posted April 20, 2012 Report Share Posted April 20, 2012 From Tax Talk Today: It’s time for YOU to get a break! You’ve been busy this tax season making sure you reflect every tax credit and deduction for your clients. Now, you deserve a break. • Purchase 15 CPE, 8 program package • Only $187.50, or $12.50 per credit • SAVE $60 from our Individual program price • Click Here to receive Special Price OFFER ENDS APRIL 30, 2012 Archived Programs Earn CPE Credits Too! Next Live Program Ethics - Under IRS Circular 230: Need-to-Know Standards for Tax Return Preparation Tuesday, May 8, 2012 2:00 PM – 3:40 PM ET 2 CPE credits - ETHICS Add To Your Calendar Can’t Watch Live Program? The Live program will be Archived for 12 months, starting 24 hours after the Live broadcast. Tax Talk Today Programs - Live Webcast programs (No Test Required for CPEs) - Programs are Archived (Self-Study CPEs) for 12 months: view at your convenience - Audio Podcasts and Printed Transcripts (Both Self-Study CPEs), are also available - On-line testing with immediate scoring for Self-Study CPEs - 15 total CPEs, meeting IRS requirements for Topics, are covered 2 Hours on Ethics 3 Hours on Federal Tax Law Updates 10 Hours on Federal Tax Law - Viewing the programs is free, however there is a charge to earn CPEs - 2012 Program Schedule Take advantage of this Easy to Do and Easy to View CPE program Tax Talk Today’s CPE program is approved by the following: · National Association of State Boards of Accountancy (NASBA) · IRS/OPR for Enrolled Agents · IRS/RPO Approved Program · California Tax Education Council – CTEC · Oregon State Board of Tax Practitioners · Texas Society of Certified Public Accountants (Sponsor ID 009525) · Illinois Department of Financial and Professional Regulation, Division of Professional Regulation (License No. 158.002556) · New York State Education Department, State Board for Public Accountancy Please forward this on to your colleagues. Tax Talk Today content is provided by: NAEA, Tax Analysts and Tax.com Quote Link to comment Share on other sites More sharing options...
GeorgeM Posted April 20, 2012 Report Share Posted April 20, 2012 OK and thank you for the information. Two move questions, being new to the CPE, how does it work? Does the company offering the CPE report it to the IRS so they will know how many credits you have, or do you have to keep a record and report it yourself? Where do I go for the test, or is it online? Thank you very much for all your help. Quote Link to comment Share on other sites More sharing options...
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