[NY.CPA.Someday]

I’ve read in prior posts that knowing amounts and percentages isn’t important yet a significant portion of Becker’s questions require you to know various amounts and percentages. Is it true that most of these amounts are supplied to you on the actual exam and/or don’t require you to memorize all amounts? What are the most pertinent amount? Thanks!

FAR - 8/4 - 93
AUD - 8/26/10 - 97
REG - 10/3/10 - 93
BEC - 11/21/10 - 82

[potatogun]

I'd say understand AMT and its exemptions and the main phase outs (medical, misc, casualty, etc). The Mom and Pop exception for real estate is pretty easy to remember.

Also maybe the section 179 equipment deduction of $250k (phasing out on amounts over $800k).

But aside from the ones you use over and over again, you probably don't need to memorize the phase outs for when you can use an IRA vs a Roth IRA; but remember that you can only deduct $5k total each year.

FAR 92 - AUD 91 - REG 94 - BEC 86

[NY.CPA.Someday]

Thanks for the information. Ya I definitely have the amounts you stated committed to memory but there are so many others that I just can't see myself remembering (e.g. Accumulated Earnings amounts, etc.). You think it's good to have the AMT exemption amounts memorized for both individuals and C corps?

FAR - 8/4 - 93
AUD - 8/26/10 - 97
REG - 10/3/10 - 93
BEC - 11/21/10 - 82

[Author]

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