[variable56]

Hi all, forgive me if there is already another post like this out there but I am in need of some advice. I am done with FAR and AUD and while they weren’t easy to me, with enough brute force studying I was able to get a grasp of them and ultimately pass. REG however is the exact opposite, I have been through all my videos, I am religiously going through NINJA notes and audio section by section, but the material just doesn’t seem to be sticking.

I am scheduled to take this exam on 7/31 and am thinking i may need to bump it to August if i can’t get a grasp of this material. My strategy right now is to go section by section rewrite and review all my notes so i am not just guessing, and then take blocks of 20 multiple choice (Wiley) until i am either getting consistent good scores (70-80%) or i simply run out of questions.

Do you have any advice on extra things i can do to prepare? Ideally i would love to be ready to take it by the end of this month. Is it unrealistic to think that i can be getting passable in this timeframe?

Thanks in advance for everyone’s help!

FAR - 75

AUD - 83

REG - 76

BEC - 78 bubble survivor

ETHICS - TBD

[NikkiSkupnjak]

Spend a week or so just reading! Wish I would have. Every exam I have taken is way more conceptual than I expect! MCQ, read, notes, repeat. Good luck!

FAR 92
AUD 99
REG 94
BEC

Becker Self-Study, Wiley Test Bank

[variable56]

Thanks Nikki, that is one thing i haven't tried is to really dig into the text. Good luck on your REG score!

FAR - 75

AUD - 83

REG - 76

BEC - 78 bubble survivor

ETHICS - TBD

[variable56]

Oh, sorry another question for everyone. Since the new changes to REG take effect 7/1 does that mean I need to memorize both the 2012 and 2013 exclusions? For example the gift tax exclusion of $13,000 in 2012 vs. the $14,000 in 2013. This is somewhat stressful thinking that i will have to memorize both numbers…

FAR - 75

AUD - 83

REG - 76

BEC - 78 bubble survivor

ETHICS - TBD

[NikkiSkupnjak]

I would just know the basic ones for 2013 like gift exclusions, medical deductions, IRA contributions. I didn't come out of the exam thinking “gosh I wish I would have memorized that number!”. Like I mentioned, it was more like “Gosh, I wish I really read the book more for a thorough understanding of the concepts and explanations” haha, Good luck!

FAR 92
AUD 99
REG 94
BEC

Becker Self-Study, Wiley Test Bank

[Anonymous]

wow, im in the exact same position as you OP. my test though is 7/6 and im pretty much freaking out at this point. I'll do some MC questions and feel pretty good and all of a sudden get around 5-6 questions in a row where i completely forgot the Tax rule and I'm right back to square one. I plan on taking a practice test (using Becker) this 4th of July since i have it off from work. After that i'll just keep doing questions over and over again till my eyes are bloodshot red. GAHH!!! i hate all these rules. its like u memorize most of it, forget one part or exception and get the whole question wrong. -______-

[LoveEventing]

Same boat here! I was hoping to take REG at the end of August. I've already done one review course and just bought Becker to start over because I feel like I've retained nothing! This is my last exam, and I knew it would be my hardest. I NEED to pass this exam. I've pushed it out to October 1, but I really hope this doesn't turn into a 6 month extension…

Any other advice out there? I feel like I don't understand the real “key” to REG. Like for FAR, learning the journal entry for each transaction was really helpful for understanding the concepts, as well as prep for the SIMS. Here, I am not sure what little nugget of wisdom can help me put the pieces together…

BEC - 68, 76
AUD - 90, 91
FAR - 63, 83
REG - 55, 79

FINALLY DONE!

[Anonymous]

Oh, so we should be memorizing the important 2013 numbers? My Individual Tax professor said I should be using 2012 numbers. Crap. Well, I got 3 days to forget the 2012 numbers and memorize the 2013's.

[futureCPA12]

I don't think we need to worry too much about the changes. To me, the major things to know will be:

1. Itemized Medical Expenses are now allowed to the extent of 10% of AGI as opposed to the old 7.5% limitation.

2. Personal exemption amount is now 3,900 instead of 3,800.

Everything else I'm sure they will provide for us.

[futureCPA12]

Oh…

3. The basic standard deduction for child is 1,000 increased from 950. Thus, the threshold to be taxed at the parent's rate becomes 2,000 increased from 1,900.

4. Maximum IRA deductions are 5,500 and 11,000 instead of 5,000 and 10,000.

Think that should be all.

[Anonymous]

Well, just got a reply from Corporation Tax professor:

“Focus on 2012 thresholds, limitations for the third testing window. And, follow guidance as provided by the other instructors as well.

The primary law driving changes was signed in January therefore it is not eligible for testing until the 4th testing window.”

[Priscilla]

So, have any of you guys confirmed is 2012 or 2013 exclusions and limitations?

AUD - Done
REG - Done
BEC - Done
FAR - August 2015

[futureCPA12]

Everyone I have spoken to says that they start testing new material 6 months into the year. So I am expecting 2013 numbers.

[Author]

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