personal and business tax credits…

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    Topic
  • February 27, 2011 at 7:14 pm #159805
    Nbkna2c
    Participant

    Do we really need to know all the percentages, amounts, and phaseouts for each personal and business tax credits? Just wanted to throw that out there…good luck everyone!!

    BEC 78
    REG 84
    AUD 76
    FAR 83

Viewing 10 replies - 1 through 10 (of 10 total)
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  • February 27, 2011 at 9:26 pm #269758
    Nbkna2c
    Participant

    I should say this post is not intended for people who took the test but those of us who have not and are trying to whittle which information to cram in the old noggin… 🙂

    BEC 78
    REG 84
    AUD 76
    FAR 83

    February 27, 2011 at 9:53 pm #269759
    mvillas
    Participant

    i'm approaching those topics as knowing the initial credit amounts and only noting if it is subject to any sort of phaseout. That is what I was instructed through my review course. Know the general criteria and know if it is subject to a phaseout or not. The fact-of-the-matter is that our brains can only retain so much information. Trying to remember each phaseout criteria is a lost cause- for me at least. i'm choosing to save that space in my brain for other, more realistic topics, that i can remember.

    February 28, 2011 at 12:31 am #269760
    Nbkna2c
    Participant

    thanks mvillas!!!

    Got the test tomorrow…wish me luck! Hope your studies are going well. When do you sit?

    BEC 78
    REG 84
    AUD 76
    FAR 83

    February 28, 2011 at 12:39 am #269761
    herbert7890
    Participant

    Good luck tomorrow on the exam!!

    FAR 88 - BEC 86 - AUD 90 - REG 85

    February 28, 2011 at 12:41 am #269762
    Nbkna2c
    Participant

    Thanks herbert7890!!! It would be good to be done study for taxes….I passed the ea exam about 1 yr ago and just want to done…feels like I've been studying forever!

    BEC 78
    REG 84
    AUD 76
    FAR 83

    February 28, 2011 at 2:51 am #269763
    mvillas
    Participant

    You're welcome Nbkna2c!

    I actually sit for REG tomorrow as well. 12:00pm! yikes!

    good luck to you!

    February 28, 2011 at 3:10 am #269764
    Nbkna2c
    Participant

    You checking back tomorrow night?

    BEC 78
    REG 84
    AUD 76
    FAR 83

    February 28, 2011 at 3:13 am #269765
    Nbkna2c
    Participant

    mvillas…got a question for you…basis…how do you keep it straight in your mind this diff between basis when contributing to a corp and when contributing to a part/scorp/llc? I think there is a diff but maybe I am wrong. If this takes you too far off course don't feel like you have to reply…time is of the essence right now. Good luck! I sit at 1:30

    BEC 78
    REG 84
    AUD 76
    FAR 83

    February 28, 2011 at 3:20 am #269766
    mvillas
    Participant

    yeah, i'll check back in tomorrow night.

    as for basis, it's kind of hard to explain. Like right now, without looking, i would have a hard time explaining to you which is which. but when i see a question and I see the word Partnership, Corp, etc., I seem to be able to know which to use. Lol. i know… so unstable for going in to the test tomorrow. But, i've been getting the multiple choice questions relating to basis correct. I guess we'll see how that works out for me in the actually exam…

    good luck, again. I'll check in tomorrow night.

    February 28, 2011 at 3:30 am #269767
    Nbkna2c
    Participant

    thanks! cya

    BEC 78
    REG 84
    AUD 76
    FAR 83

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