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EA Exam Part 1 Practice Questions EA Exam Part 1 – Practice Questions 1. Which filing status gives higher deduction for unmarried taxpayer? Single Head of Household Married Filing Separately Widow ✅ Head of Household gives higher standard deduction and better tax brackets. 2. Which form reports employee wages? 1099-NEC W-2 941 940 ✅ Form W-2 is used to report wages paid to employees. 3. What is normal due date for Form 1040? March 15 April 15 June 15 Dec 31 ✅ Individual tax returns are generally due April 15. 4. Which income is taxable? Gifts Child support Lottery winnings Municipal bond interest ✅ Lottery winnings are fully taxable. 5. What is purpose of Form W-4? Report income Set withholding File tax Claim credit ✅ W-4 determines how much tax employer withholds. 6. Which credit helps dependent care? Child Tax Credit EITC Dependent Care Credit Education Credit ✅ Helps ...

  EA Part 1 Practice Quiz EA Exam Part 1 – Interactive Practice Questions Select an answer. If correct, the explanation will appear. Question 1: Which filing status generally provides the highest standard deduction for an unmarried taxpayer? Single Head of Household Married Filing Separately Qualifying Widow(er) Correct! Head of Household generally offers a higher standard deduction and more favorable brackets for eligible unmarried taxpayers maintaining a home for a qualifying person. Question 2: What IRS form is commonly used to report wages paid to employees? Form 1099-NEC Form W-2 Form 941 Form 940 Correct! Form W‑2 reports wages, tips, and other compensation paid to employees. Question 3: What is the normal due date for most individual income tax returns (Form 1040)? March 15 April 15 June 15 December 31 Correct! Most individual tax returns are due April 15 unless it falls on a weekend or holiday. Question 4: Which of the following income types is gener...

  7 IRS Audit Triggers for Landlords in 2026: Is Your Rental Business a Target? There’s a specific kind of "stomach drop" that only a landlord knows. It’s that moment you open your mailbox and see a thick, white envelope with the return address: Internal Revenue Service. Most small landlords aren't trying to cheat the system, they’re just overwhelmed by rental property bookkeeping and tax reporting. . You’re just busy. You’re handling a midnight plumbing leak at Unit B, chasing down a late payment from Unit 4, and trying to remember if that $450 Home Depot trip was for a repair or a capital improvement. But here’s the reality: The IRS has upgraded. As of 2026 , the agency is using advanced AI-driven matching systems to scan tax returns for "statistical outliers." If your bookkeeping looks a little too "creative"—or just plain messy—you might find yourself in the crosshairs of an audit. The good news? If you know what the "tripwires" a...

  The 2026 Rental Property Tax Deductions Checklist: Every Dollar You Can Legally Keep It’s that time of year again. You know the feeling: the sinking sensation in your stomach as you look at a mountain of crumpled Home Depot receipts, three different bank statements, and a "miscellaneous" folder on your desktop that contains everything from plumbing invoices to a photo of your neighbor’s cat. For the independent landlord, tax season isn't just about filing paperwork—it’s about survival. If you own between 1 and 20 units, every dollar you miss in deductions is a dollar taken directly out of your retirement fund or your next down payment. The IRS isn’t exactly known for making things "simple," but your tax strategy should be. Whether you’re a pro at bookkeeping or currently suffering from "spreadsheet overwhelm," this checklist is designed to help you catch every legal deduction for the 2026 tax year. 1. The "Big Three" Fixed Costs...

  Why Small Landlord Bookkeeping Fails: 7 Hidden Signs You’re Losing Money Struggling with rental property bookkeeping? Discover 7 hidden landlord accounting mistakes that cost small property owners thousands in missed deductions and cash flow problems. You know the feeling. It’s a rainy Sunday night, and instead of relaxing, you’re staring at a crumpled receipt from Home Depot. You’re trying to remember if that $42.17 was for the leaky faucet at Unit A or the light fixture you bought for your own kitchen. Most small landlords—the ones with 1 to 20 units—start out with a simple philosophy: "If the rent check is bigger than the mortgage payment, I’m making money." But here is the hard truth: Rental property management is an accounting business that happens to own real estate. If your bookkeeping is a mess, you aren't just disorganized—you’re losing thousands of dollars every year to missed deductions, overpaid taxes, and "invisible" expenses. Most landlords don...