[wolby27]

Hi All,

For anyone stuggling with REG or just starting out, I came up with these mneumonics and thought they worked pretty well. I gave them to two friends who also liked them alot so I thought i would pass them along so that hopefully they can help you. Sorry if they do not though. Just trying to help! (sorry if there are tons of typos)

Above the Line Deductions: MOTHIISSSDEAA (You want to kill moths. they are ugly!!)

Moving Expenses

One Half Self Employment FICA

Tuition and Fee Deduction

Health Savings Account

IRA

Interest Withdrawal Penalty

Self Employment Retirement

Self Employment Health Insurance

Student Loan Interest Exp

Domestic Production Activity Deduction

Educator Expense

Alimony Paid

Attorney Fees

Itemized Deductions: TICGOMM (kind of like tic get off but with mm’s instead of ff’s. who wants a tic on them)

Taxes Paid

Interest Paid

Casualty and Theft Losses

Gifts to Charity

Other Misc Exp not subject to 2% floor

Misc Exp Subject to 2% floor

Medical & Dental Exp

Nonrefundable Tax Credits: GEARCELF (nothing really good to remeber, but gear yourCELF up for studying)

General Business Credit

Elderly or Disabled

Adoption

Retirement Plan Contribution

Child & Dependent Care

Education Credits

Lont Term unused minimum tax

Foreign Tax Credit

Refundable Tax Credits: CEWE (like fewe, (wipe sweat away) i am lucky i get a refund but with cewe)

Child Tax Credit

Earned Income Tax

Withholding Taxes

Excess Social Security Paid

Misc Subject to 2% floor: UBBEESTU (U Best U i am going to use these)

Unreimbursed Business Exp

Business Gifts

Business Use of Home

Employment agency fees

Expenses of investors

Subscriptions for professional journals

Tax Prep Fee

Uniforms

BEC - 79
AUD - 67,74,90
REG - 77
FAR - 87

DONE!!!!

"Don't give up, don't ever give up!"

[Ninja Juice]

Thanks! great job

[Ninja Juice]

Do you think we have to memorize tax brackets and all those thresholds and phaseouts etc?

[LKD CPA]

Ninja juice – I just took (and passed) Reg. The phaseouts and brackets were given in the questions. I would say it's a good idea to know that what type of items have brackets, thresholds, and phaseouts, but you don't need to memorize what they are.

FAR: 74, 83
REG: 76
BEC: 77
AUD: 89

[drichter321]

bump to the top for latter comment, and me using again!

BEC: 75 lost credit, could not pass far 🙁
AUD: 76 lost credit could not pass far 🙁
FAR: 74, FML. Next exam 06/14/23
REG: 75 lost credit could not pass far 🙁

[Author]

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