[jeff]

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. 🙂

[wannabeCaliCPA]

@Topsya – yep, I am using Becker 🙂 and I will def RE-READ this chapter like 2 times

one last exam score to wait for......
FAR - 78
BEC - 84
AUD - 92
REG - 88

[Anonymous]

Can you guys answer the question by chance?

https://www.another71.com/cpa-exam-forum/topic/tax-deductible

I am going to start studying REG on June 1st and this one just made me curious….

[Pistol Pete]

Studying for REG right now and I failed it back in the fall. I just want to express my frustrations for the changing percentages. I have the Becker 2012 REG book which I received a year and a half ago, I'm being tested on 2013 material at the end of the month, and my questions were updated to 2014 tax code… I'm just all sorts of confused when going through it all. I just missed a practice question about deductible medical expenses because I used 7.5% AGI rather than 10%.

Anybody else have to go through this?

BEC - 4/26
AUD - 75
REG - 64, retake 5/29
FAR - 75

[Anonymous]

Currently struggling big time with negotiable instruments; CPAexcel does a pretty poor job with it. Can someone please explain the drawer/drawee/payee terminology. Am I correct in saying that terminology changes on a draft vs a check? For example the book explains that for drafts the seller is the drawer, the buyer is the drawee and the payee is the seller of his bank? But for checks, the writer of the check (presumably the buyer) is the drawer, right? ahhhhhhhhh

[How many letters do you need]

Ugh I'm taking BEC in five days and then taking a break before beginning REG in July but damn people I come in here and it just frightens me. Felt good about passing FAR on the first go around but now I'm wondering if FAR was actually the hardest one 🙂

Good luck to all! I'll feel your pain after the 4th….

MBA,CMA,CPA, CFF?, ABV?

[Mamabear]

@howmany–I'm with you. REG scares me to death. I've been avoiding this thread like the plague. My REG studies start tonight. Good luck on BEC!!

CPA Exam - Finally DONE (November 2014)
BEC (08/10/13) 80
AUD (08/24/13) 65 (11/13/13) 85
FAR (04/12/14) 81
REG (07/19/14) 69 (11/29/14) 87!!

[NYCaccountant]

@Goodluck Mamabear with REG!

FAR - 93
REG - 87
BEC - 84!!!!
AUD - 99!!!!!! CPA exam complete.

[Mamabear]

Thanks NYC–Good luck on AUD!!

CPA Exam - Finally DONE (November 2014)
BEC (08/10/13) 80
AUD (08/24/13) 65 (11/13/13) 85
FAR (04/12/14) 81
REG (07/19/14) 69 (11/29/14) 87!!

[Topsya]

Here is a very frustrating question:

A calendar-year individual filed an income tax return on April 1. This return can be amended no later than:

a. Four months and 15 days after the end of the calendar year.

b. Ten months and 15 days after the end of the calendar year.

c. Three years, three months, and 15 days after the end of the calendar year.

d. Three years after the return was filed.

The correct answer is “C”

I know that the claim for refund should be filed 3 years after the filing of the return or April 15th, whichever is later. therefore, we are going to use April 15th in this case.

Let's say it was a year 2010

April 15, 2010 plus 3 years = April 15, 2013

BUT Three years, three months, and 15 days after the end of the calendar year – it gives me April 15, 2014 !!!!!

HELP!!!!

AUD - 90
FAR - 83
BEC - 81
REG - 80
ETHICS - 100

[golfball7773]

I had to count on fingers by the end of the exam last Saturday.

Three years, three months and 15 days after the calendar year end would be April 15th 2013. 2010 to 2011, 2011 to 2012, 2012 to 2013,

FAR: 63, 55, 62
REG: 65, 77*
AUD: Fail, 64, 71
BEC: 72, 74, 81

*expired

[golfball7773]

I see what you are saying now. You think 2010 should be excluded or the question is worded really weirdly….

FAR: 63, 55, 62
REG: 65, 77*
AUD: Fail, 64, 71
BEC: 72, 74, 81

*expired

[Topsya]

@golfball7773

Here is how i came to that date:

3 years after the end of the tax year is 3 years after Dec 31, 2010 = Dec 31, 2013

3 month after that = March 31, 2014

and 15 days after that = April 15, 2014

AUD - 90
FAR - 83
BEC - 81
REG - 80
ETHICS - 100

[Anonymous]

thanks, Lindrobe.

Another question for anyone who can help. When was Section 179 expense increased to $500,000? I thought it was $139,000…but I just came across a MCQ that said $500,000. I'm taking it at the end of the month so which one do I use?

[golfball7773]

500k. It is phased out dollar for dollar for any amount over 2 mil

FAR: 63, 55, 62
REG: 65, 77*
AUD: Fail, 64, 71
BEC: 72, 74, 81

*expired

[h0wdyus]

@cscp21. Take the example of a check. A check is a draft on which we don't have to use the words ( we can if we want ) ” pay to bearer ” or “pay to order of” , on check you just say “Pay to ” and it is still a draft. It is a demand draft if it is not postdated.

Now in a check, the person who writes the check and signs is is the drawer. the bank is the drawee and the payee is the person who will get the money.

To just limit is to buyer and seller is not right. You could give a check to your mother. You would be the drawer. The bank you have the account in is the drawee and your mother will be the payee.

FAR - 81 29th Aug 2013
AUD - 84
REG - 82
BEC - 89 29th Aug 2014
Using Yager

FROM NJ

[Author]

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