[Last Chance CPA]

I used the AL for AUD perfectly, but either I have lost my mojo, or I don’t find the AL useful for REG. I also think that 3 hours is not nearly enough to research anything! I know that it is research capabilities, but I don’t find the AL useful for REG.

If someone can give me a dummy example, so as to not violate the rules, that would be great…

FAR - 76
AUD - 75
BEC - 75
REG - 76

Now I need some experience!!! And some networking...

[Anonymous]

^ Second that, could anyone please provide a dummy example of how to use AL in Reg?

Perhaps a particular Ninja SIM that could be used to illustrate this?

[spartancpa15]

https://www.law.cornell.edu/uscode/text/26/subtitle-A/chapter-1

I've spent a lot of time with the Code so I'm hoping my knowledge of the layout helps me when I take REG. I think the only way the AL is going to be useful to you is if you dig around in it now to get a feel for where everything is.

If you know the general area of the tough concept in a SIM that you are working on (gross income, itemized deductions, credits), you can work your way through to the applicable Code section and hopefully find what you are looking for.

So let's say they ask something about the organizational expense deduction for corporations (specifically which expenses qualify). You could try doing a search for it, but right now for practice go to that link up there and follow along: You are computing taxable income, so you want Subchapter B. Next, you know this is something only corporations get, so you go to “Special Deductions for Corporations” and it is listed under Section 248. Then 248(b) gives you the definition you are looking for. You could then use that definition to help you decide what is an organizational expense or not.

FAR - Aug '14 - 90
AUD - Jan '15 - 91
REG - May '15 - 93
BEC - July '15 - 85

Used CPAexcel exclusively
Master of Science in Accounting (focus in Tax) May '15

[Author]

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