[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]

Guys…this is really confusing..need your advice on this.

This is actually with reference to a TBS of Becker in R2 # 4, question # 6.

Regarding the social security security/medicare tax, there are 2 portions, the employer portion is 7,000.

I am not understanding the exact treatment of both the employee portion and employer portion. My understanding says

employer portion should go to Schedule C as business expense and employee portion should be deducted as adjustment to arrive at AGI. However, the book says something different.

I cleared FAR with an 88 but this REG is appearing to be a bigger nightmare.

[Anonymous]

arorav9,

Employer matches your SS and Med Tax amounts:

So if your paycheck says that you are paying $1000 for ss and med tax, employer will match that amount and pay IRS total of $2000.

When you are self employed you are the employer and employee. You pay both but you can deduct employer (half) portion to arrive to adjusted gross income (adjustment)

hope this helps

[Anonymous]

Check out pages 1 and 13

[Anonymous]

Thanks David1985

as we deduct one half to arrive at AGI, so what happens to the other half…do you mean to say nothing is done for it

[wang000]

arorav9

the other half is nondeductible personal expense.

BEC 88
FAR 87
REG 91

[Anonymous]

Keep in mind you are self employed. If you would have a job you would be paying the other half anyway. Because you are not IRS makes you pay both and lets you deduct lalf. All your other business income and expenses go to schedule C.

You will carry your net income (loss) to 1040 line 12

[Anonymous]

Great…makes sense…thanks for help guys

[Anonymous]

anyone taken this recently? I sit on Wednesday and wanted to get a feel for how it was this window.

[yankeeaccountant]

Well, I am back in REG. Going to have to retake this in January. I got a 72. Not sure what I will do to study. I felt good on the mcq's , but the sims were tough. I have to say that I don't think I can trust myself anymore. I think all objectivity I had is lost. I don't know where to begin …UGH.

[gottagetmycpa]

@yankee I am sooo sorry to hear this I was really pulling for you. I got weak in business law and of course the sims! I have no idea how I am going to attack this. I want to try cpaexcel since kandisjoy recommends it but I also want to get Roger's cram. During this test window I had jeff notes, wiley, and becker. If I pass AUD today and get a passing score for BEC (praying of a 75 I am in the second release :() REG will be my last exam and I need to pull in all I can to get it DONE.

What course did you use? My main concern is how do I learn lectures or by work MCQ! cpaexcel is only MCQ (for the cheaper version).

FAR 76
REG 76(2x)
BEC FAILED (2x)
AUD FAILED (2x)

"When you don't give up, YOU CANNOT FAIL"

[yankeeaccountant]

@gottagetmycpa

Thanks. I was weaker in Ethics (very surprised on that) and stronger, comparable on all else, but weaker in sims. I am at a loss. I don't know what to do. I had used Roger's cram in the last week, which will expire on 12.24. So, not sure if I should just use that until it expires or pay for the course. My pockets are empty. I am not working (so that I can pass-yes, stop laughing!) so every exam is a pisser on the checkbook.

I had used Becker and Wiley before. Not sure where I will go either. I used a free trial of CPAexcel but wasn't thrilled. I would like a new testbank, so I might look at that. Not sure where I am with the exams, I will get my Audit score on DEC 7th, but honestly, I am not feeling optimistic on that at all. My biggest concern is how much/if any of the exam will change in 2012 for REG?

So, all in all, I don't have a clue what I am doing. I just want to crawl in a hole–that is the only thing I know.

[RedRage00]

Sorry to hear that Yankee. I was pulling for you!

I'm about to start AUD tonight and I'll be 2 weeks into it before I get my REG score. I hope I don't have to stop AUD to jump back into REG.

How many parts have you passed Yankee?

Texas CPA
Licensed, March 2012

[yankeeaccountant]

@Redrage

Thanks. I have BEC and FAR under my belt. I was hoping to be done by the end of the year. Not going to happen. I should hear on Audit on the 7th.

I hope you will be getting good news on REG..I will be looking out for your passing score. How is Audit going?

[Happy A]

Hi, all. I'm preparing REG for 1/25/12. Now I'm debating about the material that i'm using. I bought 2011 Becker course cd and 2010 textbooks. With all the new tax law changes, will there be changes in 2012 exam? Should I still use the 2011 material for 2012 exam? So hard to decide. Can anyone give me a direction? Thanks a bunch!

Congrats on those who passed and keep going on those who are studying!

Full-Time Studying.
Using Becker.

[Anonymous]

Hi everyone i am a International candidate i have got my NTS, it is valid till 30th may 2012, i want to know whether i can schedule my 2 exams in Jan-feb window and 2 exams in April -may window..

[Author]

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