What Is Earned Income?
Earned income is pay from work — wages, tips, and self-employment profit. Learn what counts and why it matters for the EIC and IRA.
EA Exam Prep
EA Exam Prep
EA exam concepts explained the way they actually appear on real tax returns — and where the exam sets its traps. Written by a federally authorized Enrolled Agent for people preparing for the Special Enrollment Examination.
EA Exam Prep
What Is a Backdoor Roth IRA?
Learn how a Backdoor Roth IRA works, how the Pro-Rata Rule affects your taxes, and why Form 8606 is essential — explained by an Enrolled Agent.
EA Exam Prep
Traditional IRA vs. Roth IRA — What’s the Difference?
Traditional IRA vs. Roth IRA — tax treatment, contribution limits, RMD rules, and income phase-outs explained by an Enrolled Agent.
EA Exam Prep
AOTC vs. LLC — Education Credits Explained
Learn how the AOTC and Lifetime Learning Credit work, who qualifies, and how to choose the right education tax credit.
EA Exam Prep
What Is a Trump Account?
A Trump Account (IRC §530A) is a tax-deferred investment account for children under 18 created by the OBBBA, with a $1,000 federal seed and $5,000 annual limit.
EA Exam Prep
What Is the Kiddie Tax?
The kiddie tax applies the parent’s tax rate to a child’s unearned income above $2,700. Learn who it affects, how it works, and how to file.
EA Exam Prep
What Is Unearned Income?
Learn what unearned income is, how the IRS taxes it, and how it differs from earned income — including NIIT, Kiddie Tax, and key rules.
EA Exam Prep
Standard Deduction vs. Itemized Deductions — What’s the Difference?
Learn the difference between standard and itemized deductions, when each option saves more, and key OBBB changes for your tax return.
EA Exam Prep
What Is a Tax Refund?
Learn what a tax refund is, how it works, how to check your status, and why a big refund may not always be a good thing.
EA Exam Prep
What Is a 529 Plan?
Learn what a 529 plan is, how its tax benefits work, OBBBA changes for K-12, and SECURE 2.0 Roth IRA rollover rules.