Tax Issues Best Dealt With By Credentialed Enrolled Agents

Tax Issues Best Dealt With By Credentialed Enrolled Agents

For some in the tax preparation business, becoming a credentialed IRS tax preparer is seen as an unnecessary step in running a successful tax business.

Others simply see it as a “must do” to keep their high-level status with the IRS.

Really, though, it’s neither. While staying IRS-certified has its advantages and should certainly be a goal, it also means offering more professional services to clients. That leads to attracting a large base of clients upon which to build a successful business.

My Tax Courses Online also offers a host of IRS-approved continuing education courses that can help you pass the IRS test to become an Enrolled Agent. This puts you in the rarified company of about 50,000 people who have earned the credential in the U.S.

They also offer the chance of earning a Record of Completion in the IRS Annual Filing Season Program (AFSB). Earning the designation requires taking 15 to 18 hours of coursework, both of which are offered through My Tax Courses Online through video-based, online courses. Doing so can separate you from the competition - about 400,000 tax preparers choose not to earn the IRS AFSB credential every year.

Both prepare you to handle some of the following situations, making your tax preparation business more attractive to clients.

Tax Situations

The following are some of the situations that tax preparers who have participated in continuing education courses and earned IRS credentials are well-suited to handle.

Representing Clients

IRS-approved tax preparers have the right to appear before IRS agents to represent clients, a huge selling point in advertising your services.

Tax Debt

Many clients have debt from unpaid tax bills in past years, requiring them to set up plans with the IRS to legally pay off the debt. This also extends to issues such as tax fraud, liens and levies.

Small business consulting

Continuing education classes such as this one from My Tax Courses Online allows tax preparers to become expert consultants for small businesses, who have a unique set of tax challenges.

Latest federal law

Every year, there are changes in tax law. This year has more than most with Congress passing tax reform. Having detailed knowledge on these changes is priceless for tax preparers. It not only makes you more attractive to clients, but also enables you to provide much better service.

Asset Protection and Strategy

A basic tax preparer goes through a person’s taxes and makes sure everything is correctly done, often using software. A tax preparer who has gone through continuing education courses is a more active tax professional for clients. They make recommendation on advantageous tax shelters. They help individuals and families develop tax strategies to maximize their earnings. This puts them among the elite in their profession.

Tax preparation is a complex, competitive business. Knowing the latest tax laws, skills and strategies for taxes puts you ahead of the competition. More importantly, it improves your services for clients and helps ensure they will return every year for decades to come.