[iampei]

I was wondering what limitation rules I should use when I go in to take the exam for reg. Becker and Ninja notes states different limitation amounts and I don’t know which ones I should use.

Becker – $125,000 – Deduction Max

Ninja Notes – $139,000 – Deduction Max

Thanks guys.

[Anonymous]

There's no way that the AICPA will test these changes.

[jeff]

Those amounts listed are the pre-July ninja notes numbers.

Beginning in July it was $500k/$2M

Email if you need an updated set.

Jeff Elliott, CPA (KS) | Another71 | NINJA CPA | NINJA CMA | NINJA CPE

[jeff]

Those amounts listed are the pre-July ninja notes numbers.

Beginning in July it was $500k/$2M

Email if you need an updated set.

Jeff Elliott, CPA (KS) | Another71 | NINJA CPA | NINJA CMA | NINJA CPE

[samdiegoCPA]

@ConstantPainAgain You can deduct $500,000 up to $2m. Then reduced dollar for dollar. If you have $2,200,000, then you can deduct $300,000 only. Make sense?

AUD: 84
REG: 84
BEC: 79
FAR: 83

[samdiegoCPA]

@ConstantPainAgain You can deduct $500,000 up to $2m. Then reduced dollar for dollar. If you have $2,200,000, then you can deduct $300,000 only. Make sense?

AUD: 84
REG: 84
BEC: 79
FAR: 83

[Anonymous]

Okay guys… one more time, I'll be taking regulation next week..

The capitalization purchase limit is 2,000,000

Sec 179 deduction is 500,000

So, the excess over 2,000,000 reduces my 500,000 deduction. Is that correct?

ohhhhh….I'm so confused

[Anonymous]

Okay guys… one more time, I'll be taking regulation next week..

The capitalization purchase limit is 2,000,000

Sec 179 deduction is 500,000

So, the excess over 2,000,000 reduces my 500,000 deduction. Is that correct?

ohhhhh….I'm so confused

[jeff]

Yes – dollar for dollar.

Jeff Elliott, CPA (KS) | Another71 | NINJA CPA | NINJA CMA | NINJA CPE

[jeff]

Yes – dollar for dollar.

Jeff Elliott, CPA (KS) | Another71 | NINJA CPA | NINJA CMA | NINJA CPE

[Anonymous]

didnt 179 just expire?

https://www.cbsnews.com/news/as-year-ends-congress-again-lets-55-tax-breaks-expire/

Section 179 expense deduction: This deduction is a whopper for small and mid-size business owners. In 2013, business owners can immediately deduct up to $500,000 of qualifying assets they need to buy to run their business (office and medical equipment, machinery, etc.) But in 2014, unless Congress acts to extend it, the limit that's immediately deductible plunges to $25,000. If you expect to buy more than $25,000 of business use property in 2014, then make those purchases now.

[Anonymous]

didnt 179 just expire?

https://www.cbsnews.com/news/as-year-ends-congress-again-lets-55-tax-breaks-expire/

Section 179 expense deduction: This deduction is a whopper for small and mid-size business owners. In 2013, business owners can immediately deduct up to $500,000 of qualifying assets they need to buy to run their business (office and medical equipment, machinery, etc.) But in 2014, unless Congress acts to extend it, the limit that's immediately deductible plunges to $25,000. If you expect to buy more than $25,000 of business use property in 2014, then make those purchases now.

[jennknee]

^ CPA exam will test 2013 tax law until July 2014, as far as I know.

AUD - 7/5/13 - 93
FAR - 8/24/13 - 91
BEC - 11/30/13 - 92
REG - 2/24/14 - 91! DONE!

CPAreviewforFREE, Wiley Test Bank, Becker, and NINJA FLASHCARDS. <3
Candidate from California

[jennknee]

^ CPA exam will test 2013 tax law until July 2014, as far as I know.

AUD - 7/5/13 - 93
FAR - 8/24/13 - 91
BEC - 11/30/13 - 92
REG - 2/24/14 - 91! DONE!

CPAreviewforFREE, Wiley Test Bank, Becker, and NINJA FLASHCARDS. <3
Candidate from California

[Author]

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