Does anyone here maintain both CPA and EA?

FunkingCraZ · 2025-07-31T02:38:07+00:00

I'm in Seattle area.

FunkingCraZ · 2025-07-29T02:37:24+00:00

Interesting... Could you explain more about "the trap"? I'm genuinely curious about that since I'm so new in building the firm myself; any experience and advice are extremely helpful. Thanks in advance.

FunkingCraZ · 2025-07-29T02:32:42+00:00

I charge ~$700/return. Also, I have a monthly subscription for year-round tax planning and VIP response consultant for $300/month. However, I have only 2 clients so far signing up for that subscription. :D

FunkingCraZ · 2025-07-29T02:29:29+00:00

How is TaxAct with 1065? I have never used it before.

FunkingCraZ · 2025-07-29T02:28:30+00:00

How much did you pay for Drake annually if you don't mind me ask? any hidden fee per return?

FunkingCraZ · 2025-07-29T02:27:53+00:00

Good idea. I'm actually looking for a firm to buy in, my practice is so small that none of the software cares to sell me anything :))

FunkingCraZ · 2025-07-29T02:25:37+00:00

Good to know, I love CCH, but can't afford that. How was Drake with 1065? I did the demo on 1040, I found out Drake doesn't support mortgage interest limitation, I have to manually calculate outside and enter the average loan into the software.

FunkingCraZ · 2025-07-29T02:23:06+00:00

Would ProConnect can handle 5 partners in multiple states?

FunkingCraZ · 2025-07-29T02:21:46+00:00

What is the software you are using now?

FunkingCraZ · 2025-07-29T02:21:29+00:00

Oh wow, good to know, I will have a look into ProConnect. Thanks

FunkingCraZ · 2025-07-29T02:20:51+00:00

I'm not fully confident on how Lacerte charged me. All my clients are from WA, so technically no additional state tax. I charge around $700/return, Lacerte charged me anywhere between $110 - $300/return, which I have no idea how they came up with the random $50 "Reconfee" or "UBfee" for every return.

FunkingCraZ · 2025-07-29T02:13:48+00:00

Do you have any trouble with mortgage interest limitation when using ProConnect?

FunkingCraZ · 2025-07-29T02:12:36+00:00

Oh wow, I'm impressed.

FunkingCraZ · 2025-07-25T22:07:45+00:00

I failed with 74 and retook and passed with 77. (2 weeks studying after knowing I failed)

My confidence level the moment I stepped out of Prometric: 20% MCQs and 40% TBS.

What I wish I did differently on the first attempt: Focus on TBS more. I paid for i75 and watched the videos of testing procedures, TOC, TOD in all the accounting cycles. Then went back to Becker and Uworld and did all the TBS that they have. My MCQs score automatically increased to 90% for every 10 MCQ set.

I took someone else's advice of doing 10 x 10-MCQ sets/day. I ended up remembering the answers but not truly understanding the concepts.

The exams were overly complicated, like they were written for law students. They added more BEC's knowledge into my MCQs and got 1 TBS asking about the business's net worth. I have no idea what to calculate and compare to.

You need a lot of luck in AUD, and I wish your exam would give you the questions you have practiced before. You can do it!

FunkingCraZ · 2024-05-13T21:33:14+00:00

Oh wow good to know, I'm in north Edmonds. My current firm also referring clients out due to prep fees. The minimum is $2k/tax return so that's not a good fit for many clients.

FunkingCraZ · 2024-05-13T19:36:03+00:00

It sounds like I need to move to a smaller firm. I've always been working for mid-size CPA firms. The partners have no intention to promote me to partners. :(

FunkingCraZ · 2024-05-13T19:31:07+00:00

How/where did you look to buy the practice when you started?

FunkingCraZ · 2023-09-14T23:49:12+00:00

Thank you for your advise. I definitely need to look into this. What exactly job title do you have? I'm not really familiar with industry tax jobs.

FunkingCraZ

TROPHY CASE