Learning about Taxes
Posted on Friday, August 27, 2010
Rachel Carnahan '12 is interning this summer with Margaret Munro, E.A. in Essex Junction, Vermont. A junior from Montpelier, Carnahan is working with Munro on a number of projects the tax preparer has planned.
As an Enrolled Agent, Munro is certified by the Internal Revenue Service to represent taxpayers before the agency. She currently runs her own boutique tax practice, after having previously worked in larger firms. Her firm works with high worth trusts and estates, non-profit organizations, and also processes personal tax returns. In addition, Munro writes a column for a local newspaper, provides financial planning services, and has written several "For Dummies" books on estates and trust administration, taxes, and saving for college.
Carnahan obtained the opportunity to work with Munro through a family connection. The two work for a home office, along with Munro's assistant and their two dogs.
Her duties vary from day to day, helping to prepare returns for trusts, assisting with research for Munro's next book, and preparing personal tax returns.
"There is a lot to learn especially with trusts," she says. "I enjoy learning about the wide spectrum of things Ms. Munro works on."
Carnahan enjoys being exposed to different areas and believes it will help her decide her future career plans. Carnahan is an economics major, with a double minor in mathematics and environmental studies. She is also active in Koshare and dance classes on campus and is studying abroad in Denmark this upcoming fall.
"I like numbers and math, so I thought this might be interesting, and sampling it would allow me to see if I like it."