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Tax Exam Prep

Tax Exam Prep

Von: Ran Chen EA CFP®
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 Tax Exam Prep is a daily podcast designed to help future tax professionals pass their tax certification and licensing exams with clarity and confidence. Built and operated by OpenExamPrep, this podcast breaks down major tax exams into focused, easy-to-digest episodes covering the CPA & Enrolled Agent (EA) Exam, including Part 1 (Individuals), Part 2 (Businesses), and Part 3 (Representation, Practices, and Procedures). Each episode targets one key tax concept, common exam trap, or high-frequency test topic—making it ideal for studying during commutes, workouts, or short study sessions. Created by Ran Chen, EA, CFP®, a financial professional and exam specialist who has personally passed multiple professional licensing exams, Tax Exam Prep was developed from firsthand experience with how complex—and often poorly explained—tax exam material can be. The goal is simple: make tax exam preparation clearer, more accessible, and more effective through structured explanations and modern learning tools. Whether you’re preparing for the EA Exam, transitioning into a tax career, or reviewing before test day, this podcast is designed to guide you step by step—one concept at a time. Free practice tools, AI-powered explanations, and additional exam prep resources are available at: https://open-exam-prep.com/Copyright 2026 Ran Chen, EA, CFP® Bildung Erfolg im Beruf Ökonomie
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  • Enrolled Agent Exam [Part 1] 09, Capital Gains and Losses Introduction

    Enrolled Agent Exam [Part 1] 09, Capital Gains and Losses Introduction
    Jan 24 2026
    This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: • The critical distinction between a capital asset (like a stock) and a non-capital asset (like a business delivery van). • How to master the holding period rule: a sale must occur *more than one year* after purchase to be long-term. • The proper reporting flow from the detailed transaction list on Form 8949 to the summary on Schedule D. • Why long-term gains on collectibles are taxed at a special 28% maximum rate, not the standard 0/15/20% rates. • How unrecaptured Section 1250 gain from depreciable real property is subject to a 25% maximum tax rate. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or Youtube Channel: https://www.youtube.com/@Open-exam-prep
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    4 Min.
  • Enrolled Agent Exam [Part 1] 08, Interest and Dividend Income

    Enrolled Agent Exam [Part 1] 08, Interest and Dividend Income
    Jan 23 2026
    This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: • Report all interest on Schedule B if it exceeds $1,500, but only include taxable interest in your gross income calculation. • Tax-exempt interest is shown on Schedule B for informational purposes but is not added to your taxable income on Form 1040. • Penalties for early withdrawal of savings are an above-the-line deduction on Schedule 1, not a direct reduction of interest income on Schedule B. • A dividend's "qualified" status, which grants a lower tax rate, depends on a specific holding period of more than 60 days. • Exceeding the investment income limit, such as the $11,950 threshold for tax year 2025, can disqualify a taxpayer from receiving credits like the Earned Income Tax Credit. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or Youtube Channel: https://www.youtube.com/@Open-exam-prep
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    3 Min.
  • Enrolled Agent Exam [Part 1] 07, Self-Employment Income Basics

    Enrolled Agent Exam [Part 1] 07, Self-Employment Income Basics
    Jan 22 2026
    This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: • How to calculate net profit on Schedule C by subtracting ordinary and necessary expenses from gross receipts. • The critical factors the IRS uses to differentiate an employee from an independent contractor, focusing on the right to control. • Why bartered services must be included in gross receipts at their fair market value. • The common exam trap of distinguishing between currently deductible expenses and capital expenditures. • How net self-employment earnings are subject to SE tax and the proper placement of the one-half SE tax deduction. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or Youtube Channel: https://www.youtube.com/@Open-exam-prep
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    4 Min.
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