[SDTrojan1904]

We’ve all seen the popular REG mnemonics such as HIM DEAD, CARES, SUPORT, MAIDS, etc but have you came up with a more clever one? Do you know of a not-so-popular mnemonic that you found really helpful? If so, post them here!

Let’s see how many we can come up with. I’ll start it off with “SBSV…is tax free!”

Tax Exempt Interest Income includes:

S) State and Local Govt Bonds/Obligations

B) Bonds of a US possession

S) Series EE

V) Veterans Administration Insurance

[Amay]

Deductions not subject to 2% AGI phaseout: “Mr. Gambler Cashes In”

M – Medical

G – Gambling

C – Casualty

I – Investment interest expense

BEC: 73, 81
AUD: 85
FAR: 71, 77
REG: 74, 75...finally DONE! 😀

*This is my 2nd attempt at the CPA exam. For all of you who have failed this exam many times, given up on it, or taken a break like me, remember that it is still possible to finish what you started...failure is the opportunity to begin again more intelligently 🙂

[Amay]

Elections that partners can make: FDR got “elected” president

F- Foreign tax paid (deduction or credit)

D- Depletion for oil/gas (cost or %)

R- Reduction of basis of depreciable property when excluding income from discharge of debt

BEC: 73, 81
AUD: 85
FAR: 71, 77
REG: 74, 75...finally DONE! 😀

*This is my 2nd attempt at the CPA exam. For all of you who have failed this exam many times, given up on it, or taken a break like me, remember that it is still possible to finish what you started...failure is the opportunity to begin again more intelligently 🙂

[Anonymous]

A Brian original:

51% More-likely-than-not

40% Substantial authority

33% REalistic possibility

25% reasonable BAsis

Ms. Reba

(Ain't that fancy?)

[Amay]

Remember what are NOT CAPital assets or “I [will] Bust A Cap” on you! LOL

I – Inventory

B – Business Property

A – Accounts Receivable

C – Covenant not to compete

BEC: 73, 81
AUD: 85
FAR: 71, 77
REG: 74, 75...finally DONE! 😀

*This is my 2nd attempt at the CPA exam. For all of you who have failed this exam many times, given up on it, or taken a break like me, remember that it is still possible to finish what you started...failure is the opportunity to begin again more intelligently 🙂

[Amay]

Statute of Frauds – must have a written contract: FORD

F – $500 or more selling goods

O – One year or more

R – Real estate

D – Debt of another

BEC: 73, 81
AUD: 85
FAR: 71, 77
REG: 74, 75...finally DONE! 😀

*This is my 2nd attempt at the CPA exam. For all of you who have failed this exam many times, given up on it, or taken a break like me, remember that it is still possible to finish what you started...failure is the opportunity to begin again more intelligently 🙂

[Amay]

Partnership Basis is Increased by: “I Love Cash Not Tax”

I – Income

L – Loans

C – Casualty Gains

N – Non-casualty gains

T – Tax-exempt Income

Partnership Basis is Decreased by: “Don't Cry Loser”

D – Distributions

C – Charitable Contributions

L – Losses and Liabilities assumed by other partners as well as decrease in partnership Liabilities

BEC: 73, 81
AUD: 85
FAR: 71, 77
REG: 74, 75...finally DONE! 😀

*This is my 2nd attempt at the CPA exam. For all of you who have failed this exam many times, given up on it, or taken a break like me, remember that it is still possible to finish what you started...failure is the opportunity to begin again more intelligently 🙂

[drichter321]

bump this to the top for all of us taking reg, or studying for it.

(this should be sticky)

BEC: 75 lost credit, could not pass far 🙁
AUD: 76 lost credit could not pass far 🙁
FAR: 74, FML. Next exam 06/14/23
REG: 75 lost credit could not pass far 🙁

[Author]

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