[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]

Game time tomorrow at 8:30am. First go-around with any section. Not planning on doing much more studying between now and then, except for possibly scanning through chapters 1-3 of Becker tomorrow morning. Good luck to any other testers getting their game on tomorrow!

[musicamor]

@cpahopeful2012–memorize your mneumonics!!

Texas CPA - licensed in 2012!!!

[Anonymous]

Not sure how it went. Felt comfortable but then rechecked some of my work in the IRC with some extra time I had left in the simulation. I guess we'll see. I had gotten a 72 and 78 on the two final review exams in Becker so we'll see how I do compared to those.

[Anonymous]

Hey all,

So I'm finally going to retake REG later this month (5/31). I started studying again this week and it's going well thus far. I am confident over MCQs, but I still have nightmares about the simulations that were on my first exam. How are people preparing for these sims? Mine were completely out of left field and I was doomed from the start. Any advice is appreciated!!!

[mena je twa]

Chris,

Understand the MCQ's well enough, if you do , then you can tackle the simulations. Make sure you understand C-Corp, S-Corps, Estates/Trusts, Partnership, Basis, M-1 recon, Charity & DRD inside and out. Also, understand the formation & dissolution of entities and who gets what upon formation and dissolution. Go over the tax forms, specially 706/709 and also understand Generation skipping tax. Look at the flow of 1120, and also take a close look at Sch A – itemized deductions.

Licensed CPA, Texas - 2012

[occams_razor]

Just got my second failing grade for REG, beginning to feel a little hopeless. I know I'm not the only one to fail a test once or even multiple times but I can't help feel that giving my all is just not enough. I studied with Becker self study, both times, the second time I actually wrote everything down in a notebook because that's what I always did in college and it seemed to work out when I got A's and A-‘s. Insanity is doing something over and over and expecting different results so what can I do differently this time around? How can I overcome the feeling of dread and constant reminder as I study that I'll be studying for a test I've failed twice? Again I understand that I'm not the only one whose failed, I know people have failed dozens of times, I hope by saying this no one will try to make my failure okay.

AUD - 79!
REG - (67,69-without NINJA and Wiley Test Bank) 84!(with NINJA and Wiley Test Bank)
FAR - 75!
BEC - 83!
Every test I passed, I used Ninja Notes. Couldn't have done it without them!
I am done!!!

[Anonymous]

I failed REG twice before passing. I also studied with Becker and here's what I did that helped me FINALLY pass:

-Read each chapter in Becker 2-3times,

-Did all the MCQs 3-4 times, including SIMS,

-Took notes on what I had missed, I learned a lot from MCQs…know why you got an answer right/wrong, read all the explanations,

-Also did all the MCQs/SIMS from the final review,

-Bought a Wiley testbank and did all the tax related MCQs/SIMS from it couple times,

The way I did all this:

On the first round: Watched a lecture by section, read that section, did MCQs from that section so forth…did that for all the chapters.

Then read all the chapters again for the 2nd round and did all the MCQs/SIMS again,

Used Wiley testbank around couple weeks before the exam,

Did progress tests everyday,

Took lots of notes.

I know what you are feeling right now, but trust me, YOU WILL PASS this. I hated studying for REG, but seriously, it's not too bad. Just keep at it and you will GET IT! Repetition is the key! GOOD LUCK!

[Anonymous]

Hello All,

Long time follower of this website and first time poster! I have not taken a tax class in 7 years and plan on taking REG in the beginning of July (not sure what to expect). For my previous exams I used Becker review, NINJA notes and Wiley questions for my preparation and success. I plan on using Becker and the NINJA notes at a minimum. Is Wiley any good for this section or is there another book/study material anyone can recommend?

[Anonymous]

Hello All,

Long time follower of this website and first time poster! I have not taken a tax class in 7 years and plan on taking REG in the beginning of July (not sure what to expect). For my previous exams I used Becker review, NINJA notes and Wiley questions for my preparation and success. I plan on using Becker and the NINJA notes at a minimum. Is Wiley any good for this section or is there another book/study material anyone can recommend?

[occams_razor]

So I just got my NASBA score performance e-mail. For multiple choice I was Stronger in 4 out of the 6 areas and the other 2 were comparable. The multiple choice overall says I was Stronger, and the SIMS says I was weaker… so smart money says I should do more SIMS before I take the test again. I used Becker both times, I'm wondering what other program is available for me to use or purchase that gives me the most/best exposure to SIMS?

AUD - 79!
REG - (67,69-without NINJA and Wiley Test Bank) 84!(with NINJA and Wiley Test Bank)
FAR - 75!
BEC - 83!
Every test I passed, I used Ninja Notes. Couldn't have done it without them!
I am done!!!

[HustlinHustlin]

Could someone tell me the best way to focus on the chapters of acts and other laws…i cannot seem to grasp it or even stay awake. R8 for those of you Becker users. I have the flashcards and have noted pass keys, do you think that is sufficient? I can't wait to finish it so I can finally start reviewing.

B 71 - 79 EXPIRED
A 69 - 75 EXPIRED
R 65 - 48 - 45
F 56 - 61 - 65 - 64

Becker, Wiley Test Bank, Wiley Text and Ninja Notes

"The fish who keeps on swimming is the first to chill upstream" -311

Experience - Done, like WAAAY done.
Still need 30 more credits, in basket weaving (gotta love new CA requirements)

[Anonymous]

@HustlinHustlin…I have the same problem as well. My test is less than 4 weeks away, and I am still on R6. It seems there are lots of material to cover. I was told the focus should be on Tax…but the volumn of non-tax is as much as Tax…I start to get worried….

[Anonymous]

Hey all,

Startup costs and organizational expenditures are driving me nuts. Becker doesn't explain it well enough in lectures and

Wiley has me baffled. Question 1- Wiley says organizational expenditures deductions are limited to $5000 for the tax year in which the company begins. 2 things have me bothered here. #1 if the deductions are limited to $5000, why then in the the first example they give do they show $5050 as a deduction. They say a company incurred organizational expenses of $6000, but began in april 2011, so they say 6000-5000 x 9/180 = 50 +5000 =5050. That's great but THEY JUST SAID $5000 was the max they could deduct! Also, when you throw in the 50000 amount and say the 5000 amount must be reduced by expenditures that exceed 50k my mind is completely blown with the example they give. Example 60k is spent in organizational expenditures by calendar year corp who was organized in feb 2011. They began business in april of 2012, what is the max amount of expenditures they can deduct? They say 60k x 9/180 = $3000. I'd be fine with this answer if it address the part where it is 10000 over the 50k limit, and why don't they show how you would reduce the 5k deduction like the rules say? Let's assume a business had 60k in organizational costs AND began business Jan 1 of 2011. How much could they deduct? A rational mind would say 5000 REDUCED by some amount because that is what the rule says to do! If someone can answer these for me it would be greatly appreciated. Also, how do the 10k /60k startup costs rules come in also THANKS!

[nolifecpa]

#1 question:

the 5,000 deduction is the max you can take automatically upfront, not in total for the whole year, you still have to add the amortized amount on top of that.

so you have 6000 in expenses, you deduct 5000 upfront which leaves 1000 left. you then amortize 1000 * 9/180 = 50 so in total you deduction is 5000 upfront + 50 amort = 5050

#2 question:

as you already know the 5000 upfront is reduced dollar for dollar above 50,000. so you have 60,000-50,000 = 10,000 which will reduce your 5000 upfront deduction to zero. so you have 0 upfront deduction but you still have to calculate the amortized part which is 60,000 * 9/180 = 3000

i think you got confused thinking that you can only deduct 5000 total

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]

#3 question:

For tax years beginning in 2010, you can elect to deduct up to $10,000 of business start-up costs paid or incurred after 2009. The $10,000 deduction is reduced (but not below zero) by the amount such start-up costs exceed $60,000. Any remaining costs must be amortized.

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

[Author]

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