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Tax Exam Prep

Tax Exam Prep

Written by: Ran Chen EA CFP®
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About this listen

 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® Careers Economics Education Personal Success
Episodes
  • Enrolled Agent Exam [Part 1] 05, Gross Income Inclusions

    Enrolled Agent Exam [Part 1] 05, Gross Income Inclusions
    Jan 20 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: • Gross income under IRC Section 61 includes all income from any source unless specifically excluded. • Income is taxable regardless of its form; bartered services and property are taxed at their fair market value. • Prizes, awards, and bonuses are fully includible in gross income, even if they are not received in cash. • Items labeled as "gifts" from an employer are almost always considered taxable compensation on the exam. • Your default exam assumption should be that any item of value received is taxable income. 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 mins
  • Enrolled Agent Exam [Part 1] 04, Dependent Rules and Requirements

    Enrolled Agent Exam [Part 1] 04, Dependent Rules and Requirements
    Jan 19 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 difference between the support tests for a qualifying child versus a qualifying relative. • Key age test requirements for a qualifying child, including the under 19, under 24 for students, and disability exceptions. • The strict gross income limit that a qualifying relative must meet to be claimed as a dependent. • How to apply the tie-breaker rules when a child is a qualifying child for multiple taxpayers. • The distinction between relatives who must live with you all year and those who do not. 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 mins
  • Enrolled Agent Exam [Part 1] 03, Standard Deduction for 2025

    Enrolled Agent Exam [Part 1] 03, Standard Deduction for 2025
    Jan 18 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 specific 2025 standard deduction amounts for Single, MFJ, and Head of Household. • How to determine whether a taxpayer should take the standard deduction or itemize their deductions. • How the standard deduction is increased for taxpayers who are age 65 or older, or are blind. • How the new "One Big Beautiful Bill" creates a significant senior deduction that replaces the prior age-based add-on. • How to calculate a taxpayer's full standard deduction in a complex exam scenario involving multiple additional amounts. 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 mins
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