AUD does have the lowest overall pass rate… only one I have ever failed….
For REG, Know who qualifies for exemptions, be able to differentiate the standard deduction from itemization (you really need to know the details on the pieces that can be itemized and how they are, like business expense at 50%). Tax depreciation versus GAAP, BASIS BASIS BASIS, if you’re not comfortable finding the basis or the corps and partnerships you need to be. Like kind exchanges ie when there is boot / no boot etc. Mom and Pop Loss of $25,000. When to recognize a gain on selling a house (tricky when you rent and have depreciation and then move back in to qualify for the $250,000 deduction). Estate Taxes, gifts, stocks. Get a good feeling on the 3yr, 5yr, 29yr and 40yr types of items for depreciation calculations. Then memorize all of chapter 5-8 .
Mom and Pop loss deduction and the personal Exemption are the only two dollar amounts I memorized for the test, most are provided it seems when they are talking about the phase outs or limits.
B – 80
A – 74, trying again Oct 7th
R – 87
F – 79
First go at the CPA! Only using Becker
Reg / Nov 2015 - 87
Far / Apr 2016 - 79
Bec / May 2016 - 80
Aud / Aug 2016
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