[jeff]

REG Resources:

Free REG Notes & Audio – https://www.another71.com/cpa-exam-study-plan

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

REG Score Release: https://www.another71.com/cpa-exam-scores-results-release

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

[lmendez2]

Hello guys!! I just took one of the final exams on Becker and here are my grades! I finished within in two hours so tomorrow when I take the second exam I am going to take my time with the multiple choice questions since I did horrible on those!!

Testlet #1 – 79%

Testlet #2 – 79%

Testlet #3 – 75%

SIM #1 Medical Deductions100%

SIm #2 Casualty Losses 80%

SIM #3 Tax Treatment 80%

SIM #4 Tax Treatment 100%

SIM #5 Research 0%

SIM #6 Tax Issues 100%

The research question was killing me and even when they gave me the answer I did not understand how that is the good answer! LOL!

FAR 5/29/13 75
REG 7/27/13 84
BEC 08/31/13 84
AUD 11/02/13 89

[lmendez2]

Hello guys!! I just took one of the final exams on Becker and here are my grades! I finished within in two hours so tomorrow when I take the second exam I am going to take my time with the multiple choice questions since I did horrible on those!!

Testlet #1 – 79%

Testlet #2 – 79%

Testlet #3 – 75%

SIM #1 Medical Deductions100%

SIm #2 Casualty Losses 80%

SIM #3 Tax Treatment 80%

SIM #4 Tax Treatment 100%

SIM #5 Research 0%

SIM #6 Tax Issues 100%

The research question was killing me and even when they gave me the answer I did not understand how that is the good answer! LOL!

FAR 5/29/13 75
REG 7/27/13 84
BEC 08/31/13 84
AUD 11/02/13 89

[Anonymous]

@lmendez2

good try, but did u clock?

[Anonymous]

@lmendez2

good try, but did u clock?

[Anonymous]

@Awesome new rule?

[Anonymous]

@Awesome new rule?

[Anonymous]

@2013_CPA

both payor and beneficiary are employee, it is nontaxable to employee;

business entity may never take deduction for life insurance on key employees with entity beneficiary; but an IRC Sec telling that life insurance policy received upon key employee's death is tax free.

i guess u r mentioning book income <=> taxable income conversion.

life insurance paid for key employees with entity beneficiary is never deductible, hence it is added to book income to reach taxable income (or taken out from taxable income to reach book income-this process is also the process of converting taxable income to current E & P). notice, any increase in cash surrender value in policy must be reduced from the payment amount.

also, life insurance policy being distributed to entity upon keey employee's death is tax free, hence it is taken out from book income to reach taxable income. notice, any cash surrender value in distribution must be reduced from the distribution.

conversion may be tested much in partnership, corporation (schedule M-1, M-3 and CEP).

[Anonymous]

@2013_CPA

both payor and beneficiary are employee, it is nontaxable to employee;

business entity may never take deduction for life insurance on key employees with entity beneficiary; but an IRC Sec telling that life insurance policy received upon key employee's death is tax free.

i guess u r mentioning book income <=> taxable income conversion.

life insurance paid for key employees with entity beneficiary is never deductible, hence it is added to book income to reach taxable income (or taken out from taxable income to reach book income-this process is also the process of converting taxable income to current E & P). notice, any increase in cash surrender value in policy must be reduced from the payment amount.

also, life insurance policy being distributed to entity upon keey employee's death is tax free, hence it is taken out from book income to reach taxable income. notice, any cash surrender value in distribution must be reduced from the distribution.

conversion may be tested much in partnership, corporation (schedule M-1, M-3 and CEP).

[MrsBing]

I am so glad I only have one chapter lecture left. I cannot stand listening to Olinto. Everytime I hear him swallow his spit I want to slap him.

Becker, Wiley Test Bank, and Ninja 10 Point Combo!

FAR: 89
REG: 87
AUD: 92
BEC: 75
Ethics: 90

Licensed Arizona CPA

[MrsBing]

I am so glad I only have one chapter lecture left. I cannot stand listening to Olinto. Everytime I hear him swallow his spit I want to slap him.

Becker, Wiley Test Bank, and Ninja 10 Point Combo!

FAR: 89
REG: 87
AUD: 92
BEC: 75
Ethics: 90

Licensed Arizona CPA

[lmendez2]

@cycgundam I did the test in two hours I always panic during the MCQs and try to hurry to I have enough time for the simulations I am allowing myself half hour per testlet MAX and 1.5 for the simulations since I usually get lost and dont understand what they are asking me but the becker simulations were not bad at all.

When I was taking FAR I started the simulations with 1.5 hours and I had such a hard time with them that I guessed on the last one and entered my last number with seconds left on the clock.

@ Awesome where did you see that new rule? I only notice that they changed the description for accredited investors…. are you talking about Dodd Frank Act? it now says that accredited individuals are the ones with a net worth of over a 4-year period that averages more than $1 million excluding value of residence when before it used to be at least one million in net worth OR $200,000 in annual income

FAR 5/29/13 75
REG 7/27/13 84
BEC 08/31/13 84
AUD 11/02/13 89

[lmendez2]

@cycgundam I did the test in two hours I always panic during the MCQs and try to hurry to I have enough time for the simulations I am allowing myself half hour per testlet MAX and 1.5 for the simulations since I usually get lost and dont understand what they are asking me but the becker simulations were not bad at all.

When I was taking FAR I started the simulations with 1.5 hours and I had such a hard time with them that I guessed on the last one and entered my last number with seconds left on the clock.

@ Awesome where did you see that new rule? I only notice that they changed the description for accredited investors…. are you talking about Dodd Frank Act? it now says that accredited individuals are the ones with a net worth of over a 4-year period that averages more than $1 million excluding value of residence when before it used to be at least one million in net worth OR $200,000 in annual income

FAR 5/29/13 75
REG 7/27/13 84
BEC 08/31/13 84
AUD 11/02/13 89

[lmendez2]

Hahahaha I feel your pain MrsBing!!! My husband even said that he is supporting me on this process so I don't dump him after I get my CPA license (as a joke of course!!) since Peter is always saying that if your significant other is not supporting you to drop them since you will upgrade anyways once you get your license hahaha!

FAR 5/29/13 75
REG 7/27/13 84
BEC 08/31/13 84
AUD 11/02/13 89

[lmendez2]

Hahahaha I feel your pain MrsBing!!! My husband even said that he is supporting me on this process so I don't dump him after I get my CPA license (as a joke of course!!) since Peter is always saying that if your significant other is not supporting you to drop them since you will upgrade anyways once you get your license hahaha!

FAR 5/29/13 75
REG 7/27/13 84
BEC 08/31/13 84
AUD 11/02/13 89

[Ikile]

Hey ya'll,

maybe someone can answer this as Becker is confusing me right now:

Mom and Pop exception allowance (related to Passive Losses obviously) of $25K is eliminated completely when AGI or MAGI exceeds $150,000? Is it AGI or MAGI??

[Author]

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