[Anonymous]

I just don’t know if I am going to be ready for REG on 5/29. I’ve had tax season, some projects at work, and a family tragedy that derailed my study plans significantly.

Here’s where I stand:

I’ve hand written notes on the Ethics/C230/Business law sections. I plan to go through all of the MCQ’s by the end of Saturday. I’m also typing up the notes because it has been two plus weeks since I hand wrote the business law notes and it is a TON of information. I hope to wrap all of that up by the end of this weekend.

Then it is on to taxation. Granted, I am already an EA and do taxes in my part-time business (mostly personal returns, sole proprietors and LLC’s) so I HOPE taxation will be quicker to get through. I have two weeks scheduled to take all my notes, go through the MCQ’s, and retype my notes. In there, I will have one full Friday, two Saturdays and two Sundays to accompish this.

That will leave me with one full week, including four full days (5/25, 5/26, 5/27 and 5/28) to complete the review and go through all the MCQ’s and SIMS I can stand. I hope to do the Wiley test bank (printed book) 3 times in that week.

I’m just not sure that’s enough. If there is any slippage what so ever on the tax schedules, I am done for.

[Anonymous]

reschedule it???

[Marivy22]

@CPApending

Considering your taxation background and your study plan, I will say GO FOR IT!!!

I found MCQ's on the actual exam very similar to Wiley testbank's, for both taxation and business law.

Business Law is a little tricky, but you have enough time.

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

[Anonymous]

Thank guys.

No, definitely not going to reschedule it. Here's my logic:

-I tend to rally, just not sure if I can get through all of this in time.

-If I were to reschedule, I would reschedule to the first week in July–exactly the same time I will reschedule if I fail it.

-If I fail or reschedule, it impacts my vacation (gotta study during beach week).

Essentially just like BEC it boils down to being about the fee. Is it worth the risk of the fee on the chance that I will be prepared. When I prepare, I prepare to make a 100 not just get a 75 so my standards are up there. So most likely I will be able to get by–I hope (general disclaimer)…but my score probably will NOT be in the 80's.

[Anonymous]

@CPApending…have you reviewed the Tax portion from the book? You have a strong tax background, but I would say it's safe to pay some attention since it could be time comsuming to digest those codes and calculations. Question for you, do you study the Ethnic/legistration process? Becker said there are usually 2-3 questiosn coming out of it, but there are quiet lots of material to go thru just for that possible 2-3 questions……

[Mrs 300]

I have 8 years of tax experience and I can tell you that REG is not for the faint of heart. I know MANY BRILLIANT TAX PEOPLE that have failed REG. I'm not trying to scare you, or ruin your motivation, but I just want to warn you of things that I wish I knew before taking the test.

Practicing is completely different than the exam. Do I think that I had an advantage because I have been in the field for this long? Absolutely. When it came down to the final moments of the exam and I was throwing random crap into the simulation tabs, I think it was my experience that helped. But the questions are asked in such a way that you HAVE to study and know the tax stuff the way it's asked in the book.

I'm telling you this stuff to be helpful and I hope it's on point. I think that given the time-frame, you are fine. I studied and passed REG in 5 weeks. I just don't want you to take it for granted that you are experienced in tax. I wish someone would have told me this before I started preparing.

REG - 80 (Becker only)
BEC - 76 (Becker only)
AUD - 71, 76 (Becker only)
FAR - 65, 74, 81! (Becker, Wiley Test Bank, Ninja notes & Audio)

CPA Class of 2012 🙂

[Anonymous]

No, I am definitely NOT taking tax for granted because I do them. I studied with the same philosophy on the EA exam as I had been doing returns for 3 years before taking the EA.

Mainly my point is that I understand the basics and the framework so I can really study on the AMT's, S Corp distributions, Estates and other more difficult sections rather than trying to remember…..well gee is mortgage interest on schedule A fully or subject to a two percent limit.

If only I could get a SIM covering Minister taxation, I would ROCK it. I mainly do schedule C clients, ministers, personal.

[Author]

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