12/24/2022
An EA or Enrolled Agent is licensed in all 50 states and is the highest designation that the IRS will issue to people who study accounting and I spend my time examining taxes. I can strategize if your car should be in a corporation, llc or your personal name and how to go about acquiring those items. I can advise on the topic of tax credits issued.
A CPA spends their time accounting for items that fit into a tax reporting regime. They won’t spend their time on the tax strategy consulting side because they spend their time as qualified registered certified public accountants.
Wealth has to be inherited, passed down and carried up. Estates have no purpose until you die. Trusts lose a little power when their existence is known. People think that there is a list of itemized deductions online in yahoo, google or on TikTok from someone who says they can offer knowledge and or a list of creditable items that they could deduct or write off and after numerous readings, I have never read anything in the IRS tax code, nor while studying the EA-SEE curriculum, about an identifiable word or terms, saying paper clips, fax machine or even office chairs are deductible, but what is written in the IRS Tax Code 162a, is the category of what is deemed considered or lawfully - ORDINARY, NECESSARY & REASONABLE To (Key word TO) your BUSINESS in the pursuit of Income, can only be taken as a business expense deduction. The quicker you become knowledgeable of this law and its terms, and come into compliance with good record keeping proof, with POP’s the more you would be able to leverage that against your taxable income.
U might want to write this one down!
The tax code is over 75,000 plus pages and 85% of that pages only speak on how to pay less in taxes or what’s considered an incentive. Very few pages of not around 20-30 pages speak on a separate type of filing. They rarely speak on how to pay taxes instead of governing us on how to pay less in taxes. Most people use a 1040 while this particular section speaks on a 1041 for specially designed trusts and foundations that when done structurally correct, you’ll be able to experience income gains that are not taxed as capital gains, being under the foundation or trust, its 100% tax free.
2021 ESTATE TAXES-
Enrolled Agent Special Enrollment Examination + SEE Test
ENROLLMENT FORM 23 (when you complete the 3-part test)
LexisNexis Risk Solutions Office on Alderman Dr in Alpharetta Ga.