[jeff]

NINJA Study Notes, Flashcards, and Audio: https://www.another71.com/products-page/

Wiley Software: https://www.another71.com/wiley-cpa-software/

Jeff Elliott, CPA (KS) | Another71 | NINJA CPA | NINJA CMA | NINJA CPE

[Anonymous]

I have the 2011 Yaeger materials and the 2012 NINJA notes. For involuntary filing of Chapter 7 Bankruptcy, it looks like the minimum amount in claims that unsecured creditors are owed went from $13,475 (per 2011 Yaeger) to $14,425 (per 2012 NINJA). Could someone confirm that this amount increase is correct?

[scs223]

I am currently studying for REG using 2011 Becker materials – does anyone know if I am screwing myself by doing so? I am not sure if there are many updates between 2011 and 2012… any insight would be helpful!!!

[musicamor]

@scs223, using 2011 material is just fine.

Texas CPA - licensed in 2012!!!

[musicamor]

@CEH84, the amount is $14,425

Texas CPA - licensed in 2012!!!

[Anonymous]

Along with SCS223's question – do the phase-out amounts change from 2011 to 2012? Are there other amounts that change from 2011 to 2012 that I will need to know in order to pass the test this July??

[nateseverino]

@cpaoneday8 the updates from 2011 to 2012 for the phase-out amounts, etc. are available at Becker.com. One can download them and basically insert them as updated pages to your 2011 materials. That is what I did 🙂

B (PASSED)
A (PASSED)
R (PASSED)
F (PASSED)

[musicamor]

@cpaoneday8–phase-out amounts are rarely tested since they change annually. As a general rule of thumb, amounts that change on an annual basis are rarely test. I have taken REG 6 times and have never been asked a question that contained a phase-out amount.

Texas CPA - licensed in 2012!!!

[Marivy22]

Exam next Sunday…….. My brain is on fire 😉 I don't want to study anymore, but will push for 72 MCQ's today and 72 tomorrow just in case.

Good Luck to all of you testing this window!!!

Done 😉
Class of 2012!!!!
Lots of prayers and hard work....

[Anonymous]

@marivy

I feel ya! I have my becker lectures playing while I work. Hoping something new will stick! I have only done 1 quiz today!! I really want to take another practice test before I leave for the day but having the determination is hard! My brain hurts 🙁

Good luck Sunday!!

[Marivy22]

@ akb,

I did a practice session in the morning, and was thinking on listining to REG NINJA Audio, but couldn't do it anymore….

I think we have been working hard enough for our passing score… Wishing you the best tomorrow.

Done 😉
Class of 2012!!!!
Lots of prayers and hard work....

[Anonymous]

Hey, Marivy! I took REG three weeks ago. Some sage advice: slot out just a couple hours tomorrow to re-write any formulas that you are weak on. Just write them about six or eight times each, especially the AMT computation. Then go work some multiple choice questions relating to that particular topic. Those formulas will just pop out at you when you're taking the test!

Good luck on Sunday! *I didn't know you could test on Sunday.

[nolifecpa]

Joaquin and Rafael joined a corporation when Joaquin transferred computers that had a FMV of $5,000 and an adjusted basis of $2,500 and Rafael transferred equipment with a $20,000 FMV and an adjusted basis to him of $18,000. In return, Joaquin received 20% of all the stock and $1,000 cash. Rafael received 80% of all of the corporation's outstanding stock and $4,000 cash.

what is gain or loss that will be recognized by the shareholders as a whole?

Gleim says $3,000 gain. shouldn't it be $5,000 gain from the money received ($1,000+$4,000)?

REG-65,71,74,73,70,74,79
BEC-60's,60's,69,71,76*,78
FAR-67,66,65,79
AUD-54,60's,65,83*,69,80
*expired

DONE

[nolifecpa]

nm. i think i get it

gain recognized is the lesser of 1) realized gain or 2) boot rec

REG-65,71,74,73,70,74,79
BEC-60's,60's,69,71,76*,78
FAR-67,66,65,79
AUD-54,60's,65,83*,69,80
*expired

DONE

[nolifecpa]

Do loans to an s corp increase that shareholders basis?

REG-65,71,74,73,70,74,79
BEC-60's,60's,69,71,76*,78
FAR-67,66,65,79
AUD-54,60's,65,83*,69,80
*expired

DONE

[ihatestudying]

hey guys,

just started studying for reg (which i passed a couple of years ago and lost credit)….i am taking it on may 31st. not much time to study, but i figured id take a shot and if not re-take in july. any advice on what is being heavily tested?

thanks

AUD - 2/27/12 - 76
REG - 5/31/12 - 78
BEC - 8/31/12 - 77
FAR - 12/6/12 - 76

[Author]

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