[mangos]

Hey guys,

My Becker mentions that the exam doesn’t really focus on the amounts specific to a tax year (ie the amount allowed for a personal exemption, the limit on IRA contributions, and so on).

My question is: are you guys bothering memorizing these limits and amounts? Should I even bother going through memorizing these amounts?

Thanks!

FAR (5/07/13): 96

[rockrlz87]

Na the only amounts I would focus on remembering is the $100 rule, the 7.5% agi rule, and maybe the $5k limit for IRA.

BEC - 5/2012 - 79
AUD - 10/2012 - 77
REG - 7/2013 - ???
FAR - 12/2012 - 80

[k1zuna]

wow ok. I was wondering about that also. Kinda overwhelmed by the numbers in chap 1 and 2

FAR - Passed
AUD - Passed
BEC - Passed
REG - 8/22/2013

[Anonymous]

I second what rockrlz87 mentioned. I took REG last Thursday and am anxiously awaiting results tomorrow! I'm not sure what study review you are using, but I used Becker and also tried to memorize the amounts of questions that appeared most frequently in the MCQs on there. Good luck with your studies, you got this!

[jsanch32]

I am also wondering how much I should focus on certain amounts! Especially because I am using a 2012 edition. I am not sure if I should bother updating the info I am looking at for 2013 or if relaying on 2012 Becker is enough

[barelystayingsane]

I would definitely study the updated info, at least for the major stuff. For instance, rockrlz87 mentioned the 7.5% AGI rule for medical expenses. That is now 10% (except for taxpayers 65 and over). The new IRA limit is also $5,500.

I would imagine that things that are indexed for inflation (exemptions, standard deductions, etc.) aren't as important to know, because they would require the testers to update those questions every year and they probably don't want to do that. If you do the Becker questions, you'll notice that those amounts are often given to you, and you're tested more so on the concept.

[Jennifer241]

Should also memorize Section 179 deduction amounts.

AUD - Jan 9,13 Pass
REG - Aug 30,13 Pass
BEC - Oct 26,13 Pass
FAR - Dec 4,13 Pass

Licensed CPA in the state of Oregon

[taupat2012]

If the amounts are in the MC or Sims in your review course then you should memorize it because those questions are mostly from old test questions. If the amounts aren't in your review questions then you can most likely skip it. I would just make a list of these amount specific questions as you're doing the questions/Sims.

[Author]

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