[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

[gms361]

I have a question on late filing penalties. Say you owe $500 with your return but file the return late. My study text says that the penalty for late filing is 5% per month of the tax due, with a maximum penalty of 25% of the tax and a minimum of the lesser of $135 or the amount of the tax. So with the $500, say it is 6 months late so the maximum penalty of 25% applies. So the maximum penalty is $125 (.25 x $500) and the minimum is the lesser of $135 or the tax of $500 so that would be the $135. So which penalty do you pay? The minimum of $135 or the maximum of $125? How can the minimum be more than the maximum?! Baffling!!!

AUD - 83
FAR - 78
BEC - 76
REG - 86 PTL!!!!!

Used CPAExcel & Wiley testbank (awesome by the way)

[RedRage00]

It's almost that time…test day is Sunday…ahhhh!

I should be fine 🙂

Texas CPA
Licensed, March 2012

[yankeeaccountant]

@RedRage

Good luck! I hope you kill it!

[RedRage00]

Thanks yankee! I hope so too 🙂

Texas CPA
Licensed, March 2012

[Anonymous]

hi all, i have a question to those who took reg, how much time did you allocate to each testlet and the sim?? thinking that this would be 3 hours also just like BEC, and the BEC MCQ took me like 2 and a half hours, I can't leave myself 30 minutes to do the sim, please if anyone could tell me that REG MCQ is much easier comparing to BEC, Thanks!!

[RedRage00]

atelery,

When I took FAR I left 1.5 hours for the SIMS. I am planning to leave 1hr15mins-1hr30mins for the SIMS in REG since there are only 6 sims instead of 7 like FAR.

I'm leaving 30-35 mins per testlet.

Texas CPA
Licensed, March 2012

[Soproudofmyself]

this might be a ridiculous question, but are we required to remember line item #'s on tax forms? i took reg for the first time in feb and failed. i remember the simulations referring to specific line item #'s on the schedule….the line item #'s made references to what they were, but i wanna make sure they aren't tricking us with that too :-/

[Anonymous]

@RedRage00

Thanks for your input, I ended up rushing through 🙁 not a good sign cause I was so behind on the second testlet, it was so hard and I wanted to cry while taking it, but there were a lot of people in the testing center so I didn't want them to be disturbed with my crying.

I ended up with 30 minutes first testlet, about 45 minutes second testlet, 30 minutes third testlet (cause i had to rush), and 75 minutes for sims.

I think I will retake in Jan. 🙁 all i want is a 75 please God.

[Anonymous]

I retake REG in 2 days (Thursday). I made a 72 last time so I need to eke out 3 more points this time around. I have answered over 2,600 multiple choice questions using Exam Matrix….. Wow! … I just realized that's a ratio of 860 questions per point!. Hopefully it'll be enough.

I have decided that no matter how I feel after the test once it is over Thursday I intend to forget about it, enjoy the holidays with my family and catch up on what little football season is left. I'm not cracking a review book until January!

[KTE_CPA]

I have a question on REG that I wanted to ask the group. I am using Yeager review and the Wiley textbook. On the first video of REG the instructor says “do not read the Wiley book unless instructed to do so.” Will this work? For AUD and BEC I read all the chapters in the Wiley book in addition to listening to the lectures. I know that they have a proven study plan, but for some reason I just can't see this working. I feel like I will not be prepared. What's worked for the rest of you and what will best prepare me for REG?

FAR - 80 (05/23/11)
AUD - 92 (07/27/11)
BEC - 81 (10/24/11)
REG - 89 (02/20/12)
CA Ethics - 94 (03/31/12)

CA CPA - Licensed May 2012

[Anonymous]

Did I see someone say that there are only 6 sims in REG instead of 7? I sit for REG Friday and I had no idea. Just trying to clarify.

[Anonymous]

@deg757 – that is correct. REG only has 6 sims, 1 of which is research.

[OnMyWayToCPA]

@deg757, yes there are only 6 sims in REG

B - 79 PASSED (1/4 there!)
A - 77 PASSED (1/2 there!)
F - 79 PASSED (3/4 there!)
R - 83 PASSED (DONE!!!!!!)
Review Course: Lambers , Wiley and Ninja

[RedRage00]

KTE_CPA,

Do whatever works for you. If you read the chapters to pass AUD with a 92 then continue to do that. Everyone is different. I passed FAR & BEC without really reading the book, except for the sections that gave me trouble.

Do what works best for you.

Texas CPA
Licensed, March 2012

[Anonymous]

Hey everyone,

I'm just now beginning my review for my exam on Nov. 30th. I took an 100 question progress test in the Becker software and scored a 74%. Not as high as I'd like but I'm pretty happy with my retention. I did notice that I was very weak in the sections of R3 and R4 (scoring 34% and 42% on those questions). I was wondering, for those who have taken REG before, what would you recommend reviewing as the major topics for those sections. I don't have much experience with corporate tax and could use some advice.

Thanks so much!

[Author]

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