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In this episode, Erica is joined by Steve Nay, a tax professional and enrolled agent, to discuss the various credentials in the tax profession including CPAs, EAs, and the Annual Filing Season Program (AFSP). The also discuss how much a tax return should cost, as well as the potential ramifications of converting to an S-corp.

 

(00:00) Introduction to the Podcast

(00:43) Meet the Guest: Steve Ney

(02:01) Understanding Tax Accreditations

(03:57) Differences Between CPA and EA

(06:58) Tax Representation and Audits

(11:11) Finding the Right Tax Preparer

(16:44) Annual Filing Season Participant (AFSP)

(18:07) Annual Filing Season Program Overview

(19:31) Credentials and Representation Rights

(21:28) Cost of Tax Preparation

(22:47) S Corp Election and Its Implications

(28:02) DIY Tax Preparation: Risks and Recommendations

(30:55) Choosing the Right Tax Preparer

(35:28) Contact Information

 

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Resources Referenced:

IRS Search for Tax Return Preparers | https://irs.treasury.gov/rpo/rpo.jsf

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