[phson01]

I am going to take REG this Saturday and this is my first time taking it. Do I have to memorize all the rules regarding limits and phaseout amount?

For example:

Chrild care credit is 35% if AGI is $15,000 or less, but is reduced by 1 percentage point for each $2,000 (or portion thereof) of AGI in excess of $15,000 (but not reduced below 20%).

Do I need to memorize all these for all the credits?

Thanks!!

FAR - 76...PASSED (NOV 2013)
BEC - 86...PASSED (MAY 2014)
AUD - 85...PASSED (OCT 2014)
REG - 81...PASSED (NOV 2014)
Ethics - 100% DONE!!!

Becker Final Review (book/lecture), NINJA Notes, Wiley Test Bank.

[Anonymous]

you could definitely get a question about that or other phaseouts. familiarize yourself especially with those you come across in your MCQ sources.

[Anonymous]

you could definitely get a question about that or other phaseouts. familiarize yourself especially with those you come across in your MCQ sources.

[005]

I'm in the same boat, but CPAExcel tells us not to memorize most phaseout amounts; they'll usually tell you in the lecture what rates should be memorized. However, as noted above, anything is fair game, unfortunately. The way I look at it, the more you know, the better. Good luck

BEC - ✔
REG - ✔
AUD - ✔
FAR - 11/29/14

CPAExcel, Ninja MCQs, and a sh*t ton of coffee

[005]

I'm in the same boat, but CPAExcel tells us not to memorize most phaseout amounts; they'll usually tell you in the lecture what rates should be memorized. However, as noted above, anything is fair game, unfortunately. The way I look at it, the more you know, the better. Good luck

BEC - ✔
REG - ✔
AUD - ✔
FAR - 11/29/14

CPAExcel, Ninja MCQs, and a sh*t ton of coffee

[Jordan23cc]

From my understanding, the actual phase out amounts really aren't that important. But I would be familiar that they exist, and I would be sure to know the phase outs for the credits. I didn't have any phase out type questions. Unfortunately, anything is fair game. My suggestion would be to hammer down other weak areas because you may get one or two questions on phase outs (maybe), but you may get five or six questions on topic b.

Good luck!

F - 2/15/2014 - 85
B - 2/26/2014 - 88
R - 4/1/2014 - 83
A - 4/21/2014 - 95

Licensed CPA in TX

I can do all things through Christ who strengthens me.

[Jordan23cc]

From my understanding, the actual phase out amounts really aren't that important. But I would be familiar that they exist, and I would be sure to know the phase outs for the credits. I didn't have any phase out type questions. Unfortunately, anything is fair game. My suggestion would be to hammer down other weak areas because you may get one or two questions on phase outs (maybe), but you may get five or six questions on topic b.

Good luck!

F - 2/15/2014 - 85
B - 2/26/2014 - 88
R - 4/1/2014 - 83
A - 4/21/2014 - 95

Licensed CPA in TX

I can do all things through Christ who strengthens me.

[CPA soon]

Memorize certain ones like gift limits and homeowner's exclusion, things you see repeatidly in MCQ's while you practice. Don't memorize everything.

FAR - 71, 68, 74, (8/31/14) 78 ✔
REG - 67, 71, 71, (10/18/14) 78 ✔
BEC - (11/29/14) 86 ✔
AUD - 73, (4/4/15) 86 ✔

I can't believe this is over! 2 years and 3 months..

[CPA soon]

Memorize certain ones like gift limits and homeowner's exclusion, things you see repeatidly in MCQ's while you practice. Don't memorize everything.

FAR - 71, 68, 74, (8/31/14) 78 ✔
REG - 67, 71, 71, (10/18/14) 78 ✔
BEC - (11/29/14) 86 ✔
AUD - 73, (4/4/15) 86 ✔

I can't believe this is over! 2 years and 3 months..

[mhueycpa]

Per Becker, you don't have to memorize the exact phaseout amounts. They emphasize that you know that for certain credits and deductions that phaseouts exists. And I second what CPA soon said.

THE 300 CLUB WILL DO JUST FINE!

[mhueycpa]

Per Becker, you don't have to memorize the exact phaseout amounts. They emphasize that you know that for certain credits and deductions that phaseouts exists. And I second what CPA soon said.

THE 300 CLUB WILL DO JUST FINE!

[Author]

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