[Q2] REG Study Group 2014 - Page 24

  • Creator
    Topic
  • #183481
    jeff
    Keymaster

    I’ve had a few requests for April/May Study Groups…March will be here before you know it.

    In order to take an early April exam, you should begin studying…now. 🙂

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

Viewing 15 replies - 346 through 360 (of 631 total)
  • Author
    Replies
  • #559255
    TargetCPA
    Participant

    I started watching lectures for Estates, trusts and gift tax. Does anyone going to take REG in the last week of May?

    I plan to buy Gleim TB for REG. Which one is better between these options as follows:

    Gleim Online = 4,800 MCQs and 360 interactive Task-Based Simulations

    OR

    Gleim test Prep = 8,900 multiple-choice questions

    OR

    Simulation wizard = 360 total unique Task-Based Simulations

    Which one is the best and most helpful in the exam?

    #559256
    Anonymous
    Inactive

    reviewing section 1231 depreciation and recapture. can someone explain when the midmonth and midquarter rconvention is used? my understanding is that midmonth is used in the year of acquisition and sale of any nonresidential (39 year) property. midquarter is used in the year of acquisition and sale for any property placed in service in the final quarter.

    i had some tricky mcq's that confused me. hoping that someone can confirm the above. thanks!

    #559257
    CPA soon
    Member

    That's my way to remember:

    RPM (like the car RPM) = Real Property (land and anything permanently attached to it) – Month

    Personal Property (equipment) is the other two – Quarter and Year

    If it's personal property, you use the half-year convention unless 40% or more of depreciable property is placed in service in the fourth quarter of the year. In other words if you buy 40% or more in the 4th quarter.

    FAR - 71, 68, 74, (8/31/14) 78 ✔
    REG - 67, 71, 71, (10/18/14) 78 ✔
    BEC - (11/29/14) 86 ✔
    AUD - 73, (4/4/15) 86 ✔

    I can't believe this is over! 2 years and 3 months..

    #559258
    CPA soon
    Member

    @Targetcpa, why not wiley test bank? cheaper and most people use it.

    FAR - 71, 68, 74, (8/31/14) 78 ✔
    REG - 67, 71, 71, (10/18/14) 78 ✔
    BEC - (11/29/14) 86 ✔
    AUD - 73, (4/4/15) 86 ✔

    I can't believe this is over! 2 years and 3 months..

    #559259
    TargetCPA
    Participant

    @ CPA soon: I am also using Wiley but for additional SIMS would be helpful.

    #559260
    CPA soon
    Member

    I wouldn't order anything until completely through Wiley and other resources. It is a lot of material to go through. Just my 2 cents.

    FAR - 71, 68, 74, (8/31/14) 78 ✔
    REG - 67, 71, 71, (10/18/14) 78 ✔
    BEC - (11/29/14) 86 ✔
    AUD - 73, (4/4/15) 86 ✔

    I can't believe this is over! 2 years and 3 months..

    #559261
    Anonymous
    Inactive

    Hi All –

    So I sat for REG in February – my final part, but didn't pass. The MC questions were what I expected, but the simulations really threw me for a loop. I am using Becker to study and was satisfied with the multiple choice questions, but I was quite unprepared for the simulations.

    Does anyone have any recommendations for simulation study that they have used. I am sitting again later this month.

    AUD – 86

    FAR – 75

    BEC – 76

    REG – < 75 Feb'14, retake Apr14

    Thanks so much and good luck studying!

    #559262

    @emilialucinda

    I had the same problems too. Have you try Wiley online test banking? they have lots of simulation questions that you can practice.

    REG - 70. Retake on 5/30/14
    AUD - 8/31/14
    FAR - target 11/30/14
    BEC - target 2/28/15
    California Candidate

    #559263
    Anonymous
    Inactive

    @Finishorgiveup

    Thanks so much for the suggestion. I am signing up for the trial this very moment!!

    Awesome!!!!

    #559264
    CPA soon
    Member

    Another disappointment in REG sims on Saturday, I was pretty much pulling my hair out in Prometric.

    FAR - 71, 68, 74, (8/31/14) 78 ✔
    REG - 67, 71, 71, (10/18/14) 78 ✔
    BEC - (11/29/14) 86 ✔
    AUD - 73, (4/4/15) 86 ✔

    I can't believe this is over! 2 years and 3 months..

    #559265
    JustWant 75
    Member

    @CPA soon please don't scare me 🙁

    Becker, Ninja Audio + Notes

    FAR: 80 (Aug 2013)
    AUD: 91 (Nov 2013)
    BEC: 79 (Feb 2014)
    REG: 80 (May 2014)

    #559266
    CPA soon
    Member

    lolllllllllllllllll hahaa looking at your scores, I'm not worried about you 😉

    FAR - 71, 68, 74, (8/31/14) 78 ✔
    REG - 67, 71, 71, (10/18/14) 78 ✔
    BEC - (11/29/14) 86 ✔
    AUD - 73, (4/4/15) 86 ✔

    I can't believe this is over! 2 years and 3 months..

    #559267
    fldwtch87
    Member

    I have an AMT question.

    I know that medical expenses that do not exceed 10% of AGI are added back for AMT purposes, but if 10% is the limit, why the rule? Is this pretty much only for those over 65 who are subject to the 7.5% limitation for regular itemized deductions?

    Thanks in advance!

    Edit: Of course the next question I get explains that my second question is correct…I probably should've waited lol

    FAR - 53, 71, 71, 78
    AUD - 56, 75
    BEC - 83
    REG - 42, 42, 74

    #559268

    The rule was in place for prior years. Like you said, it now only applies to those over 65, but it doesn't affect anything if you're already over the 10% AGI limit for those under 65. It's an easy concept, but for whatever reason I keep getting questions wrong regarding it.

    So you have 10,000 in AGI and $1,200 in medical expenses. $200 are itemized and have been included in your taxable income. This $200 is allowed as an AMT deduction so it's not an adjustment. The AMTI is the same as regular tax. I don't like the questions asking what the itemized deductions are for AMT purposes. I know you're supposed to answer it as $200, but it just sounds silly because you start with your regular taxable income that already includes you're allowed itemized deductions.

    Now if you're over 65, you would add back $250 as an adjustment to you're taxable income of $9,550. You would get AMTI of $9,800, which would be the same as in the example above.

    AUD - 68, 77
    REG - 84* (Expired)
    FAR - 83
    BEC - 74, 74, 72, 72, 84

    #559269
    Anonymous
    Inactive

    Well took REG yesterday morning, I thought it went ok but was still pretty difficult. I nailed the first section of MCQ then the next two sections were pretty awful. SIM's were slightly better than last time but still very hard.

    Hoping for a 75…

Viewing 15 replies - 346 through 360 (of 631 total)
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