[jeff]

Resources:

REG 10 Point Combo: https://www.another71.com/products-page/ten-point-combo

REG Exam Experience: https://www.another71.com/cpa-exam-forum/topic/reg-exam-experience-official-thread

Jeff Elliott, CPA (KS) | Another71 | NINJA CPA | NINJA CMA | NINJA CPE

[J]

For those of you who are debating the content structure of the exam… the 60/40 composition (where 60% is tax and 40% is business law) includes as business law the professional and legal responsibilities part. It really depends how you look at it; there are some questions that might be allocated as part of the 40% of business law yet have more to do with taxation (i.e. responsibilities of tax preparers). It's probably better to state that approximately 60% has to do with taxation (i.e. individual, corporate, property, etc.), approximately 20% with business law (i.e. contracts, sales, commercial paper, etc.) and approximately 20% is professional and legal responsibilities (i.e. Circular 230, Sarbanes-Oxley, etc.).

Look in the Wiley book… it gives a pretty good break down of the percentages and what is included in each.

[MCLKT]

I've got just shy of 3 weeks to get my 60% avg up to the 80%. It's amazing how much the repetition really helps everything sink in.

I started listening to NINJA BLAW yesterday, and I LOVE IT!

After working TAX MCQ, I went to bed and listened to Bus Law and followed along with the notes and I think it is so helpful.

Finally started feeling like I can pass :)…. again. It's such a roller coaster from confident to desperate!

A:[73]97 F:[74]85 R:86 B:[74]82
*NINJA 10 Pt. COMBO & Yaeger*

[Myeble]

What are the important changes for July 2013 for regulations? I am taking my exam in July 2013, and it appears that they will be changes for Rule 606 and Sec 179??? These are important changes for the exam…

Jeff do you have any updates…anyone?

[samdiegoCPA]

Would also like to know the changes for July 1!

Also, in my book for Dividends, it says After 2012, dividends will be taxed at the taxpayer's Ordinary income tax rate, regardless of their tax bracket… is this for exams moving forward in 2013? So, I can disregard the special 0% and 15% rates?

AUD: 84
REG: 84
BEC: 79
FAR: 83

[Stay_Positive]

@ anellis7 – It looks like we are on similar paths…I got a 78 on BEC (my first pass)…just got a 72 on FAR (so pissed) and am taking REG on 5/31. I just scheduled to retake FAR on 7/8, but I too need some passes this summer. My BEC expires 2/14…what about you? How comfortable are you with REG? I'll be through the videos Saturday morning and then can hammer MCQs for about 3 weeks. Do you think that's enough time? Good luck with your studying. I haven't gotten my breakdown for FAR, but I'll let you know what it says.

BEC - 69, 66, 78 (exp), 82
FAR - 69, 72, 66, 76
REG - 64, 66, 72, 80
AUD - 77
Ethics - 95
Waiting on License to be issued!!!

[Anonymous]

I am not sure of the changes, but Becker sent me new books and different software when I delayed my test from December to May. I hope I pass so I don't need further updates.

I've been going over my notes for business law every day and just took a practice test of 100 with only the business law chapters. I got 88%. Two of the misses were due to the same issue, one or two were mistakes due to being tired, and the others were genuine things I just didn't have down, yet.

I get why I missed the ones I did and have updated my notes. I'd love to have time to rewrite these notes, too. Reviewing them everyday is helping me a lot. Rewriting them would be even better. You definitely know what you're talking about Jeff!

Man, I gotta pass this test. I'm SO tired! Speaking of that…g'nite guys! Oh, and GO TEAM!

[jlg2010]

Hi folks just curious if there is location to study reseach questions? I signed up for AICPA site for Aud and FAR, but the IRC is not there…thx

FAR Aug 12 84
Aud Feb 13 99
BEC Apr 13 86
Reg May 13 87 Done!!!

[Anonymous]

@stay positive…I have until 3/14 until my BEC expires and yes I take Reg tomorrow. I am not feeling good at all about it though. It sucks. I feel good about tax and thats about it. The simulations are what I am scared of I always seem to get SIMS that I have never seen before with the exception of the research problems. 3 weeks to review should be good enough. As long as you are doing it everyday. I will let you know how it is tomorrow of course not in detail.

BEC – 77

Audit – NA

Fair – FREAKING 72

Reg – Pray for me

[wendywhite]

Just checking in

Spent the evening on MCQ for corporate tax – and s corp in particular… I need more review on the AAA and AEP and built in gains, and basically all things S Corp that require calculations. ugh.

I'll be reviewing wiley mod 39 tomorrow & friday – other taxation topics…. estates & trusts.

Fun Fact: I pulled up my text books from 1996 and used them to add to my review of the more complicated sections. they are so in line with the text of both wiley & becker — other than minor form modifications & dollar amounts that is… who knew ancient text books could still be helpful.

FAR 11/2012: 80
AUD 2/19/2013: 90
REG 5/14/2013: 76
BEC 11/2013: 85
Ethics: 100
Waiting on the packet....

[LSNYC]

Just saying hi! Thinking of you guys.

Anellis – good luck today you've got this!

Happy studying!

A - 61, 91!!
B - 78!
F - 76!!!
R - 71, 73, 74, 69, 77!!!!

Finally done!

This is my 2nd attempt at the exam, I had two parts passed (failed many) and I stupidly quit, big mistake. Now I'm back and with a vengeance!

[Anonymous]

Anellis7, good luck to you!

Hi LSNYC! So good to hear from you. I hope you are relaxing and enjoying your evenings for us. We need it! 🙂

I've started reviewing tax now. My goodness I took a lot of notes for chapter 1! I'm going to review notes for each chapter and then re-do all the questions I marked in Becker. I'm hoping to have the four tax chapters all reviewed by Saturday night and then do the first of the practice exams on Sunday morning.

I have the urge to take some time off work,but trying not to.

[Anonymous]

I think I am in good shape for Tuesday. Doing really well on comprehensive progress tests in Becker. I'm a bit worried about simulations, but I don't think there's any way to prepare for those besides knowing the concepts behind the MC.

[raymondsfamily]

Hi All,

I am just beginning to study REG with Becker, Wiley Test Bank, Ninja Notes/Audio/Flashcards. I am giving myself 10 weeks to do this with about 4-5 hours of studying each day. Question is this – what is the best way to handle REG? Do I watch all the video clips for each section first and then do the respective MCQs or watch a video clip and then do the corresponding MCQs? I am sure each everyone has a system that works for them but I'd rather hear from you guys since you all are in the REG marathon right now 🙂

I am so tired of failing and second-guessing myself that I want to do this the right way the first time around for REG…the joys of wanting to be a CPA!!

Thanks in advance

F - 5/8/13 81
R - 74, 2/7/14 86
B - 74, 12/6/13 82
A - 70, 11/4/14 89!!!

I'm done 🙂 Many thanks to Jeff, A71 and Roger CPA!!!

MBA and CPA

[Stay_Positive]

anellis7 – Good luck…let me know how you think you did. When are you retaking FAR?

BEC - 69, 66, 78 (exp), 82
FAR - 69, 72, 66, 76
REG - 64, 66, 72, 80
AUD - 77
Ethics - 95
Waiting on License to be issued!!!

[Mike1987]

Hi everyone, I have a question regarding transactions in property. This is question is from becker hw:

A Taxpayer is trading an automobile used solely for business purposes for another automobile to be used in his business. The automobile originally cost $35,000 and he has taken $18,000 in depreciation. The old automobile is currently worth $20,000 and the new automobile the taxpayer wants in exchange is only worth $17,500. The other party agrees to give the taxpayer a trailer worth $3,500 in addition to the new auto, and the tax payer agrees to pay $1,000 cash in addition to the trade-in. What is the taxpayer's basis in the new automobile received.

The answer is $17,500

I read in Wiley that when calculating for the recognized gain the situation where the boot given/paid does not offset with cash/unlike property received is when the boot given is in the form of a liability assumption. However, in this case the boot received is in the form of unlike property that does not offset with boot paid in the form of cash. I am not seeing this explained in the Wiley 2013 or Becker text. It this homework answer correct? Thanks a lot this stuff is really giving me a headache at this point.

[Author]

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