[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

[kels417]

Thanks, @heidi-o. Do you know then if fmv is less than cost for a short term contribution, would cost still be used or fmw since it is lower?

Illinois
Becker self study | Becker flashcards | Gleim | self written notes | WTB

AUD - 74, 75 Passed! (Expires 1/2/2014)
BEC - 78 Passed! (Expires 2/6/2014)
REG - 70, 70, 72, 74, 76 Passed!!
FAR - 72, 66, 69, 67

[Heidi-O]

Kels417 Thinking it through, if I purchase a stock for $30,000 and 2 months later its FMV is now $100 – I don't think the IRS would allow you to deduct 30% of the $30,000 – because the entity that you donated it to only received $100. They are not going to allow you to deduct $9,000 as an itemized deduction for charitable contribution, they would rather you deduct the $30.

So I don't think they would allow that. 🙂

FAR Aug 2012 79
AUD Oct 2012 84
REG Aug 2013 87
BEC Jan 2013 80

[Heidi-O]

Kels417 Thinking it through, if I purchase a stock for $30,000 and 2 months later its FMV is now $100 – I don't think the IRS would allow you to deduct 30% of the $30,000 – because the entity that you donated it to only received $100. They are not going to allow you to deduct $9,000 as an itemized deduction for charitable contribution, they would rather you deduct the $30.

So I don't think they would allow that. 🙂

FAR Aug 2012 79
AUD Oct 2012 84
REG Aug 2013 87
BEC Jan 2013 80

[kels417]

Thanks! I tend to over think everything, but you made it sound simple. Appreciate the help!

Illinois
Becker self study | Becker flashcards | Gleim | self written notes | WTB

AUD - 74, 75 Passed! (Expires 1/2/2014)
BEC - 78 Passed! (Expires 2/6/2014)
REG - 70, 70, 72, 74, 76 Passed!!
FAR - 72, 66, 69, 67

[kels417]

Thanks! I tend to over think everything, but you made it sound simple. Appreciate the help!

Illinois
Becker self study | Becker flashcards | Gleim | self written notes | WTB

AUD - 74, 75 Passed! (Expires 1/2/2014)
BEC - 78 Passed! (Expires 2/6/2014)
REG - 70, 70, 72, 74, 76 Passed!!
FAR - 72, 66, 69, 67

[Tati45]

Thank you Stokey45 for sharing your story and thank you 1BENTCPA for the words of encouragement. I got a failing score this week and at first I felt like giving up, angry at myself, mad at the situation and now I just have to get up and try again. It's frustrating because friends and family don't understand why I am not passing (I started studying last year and only have one section under my belt). My biggest supporter is my husband and he encourages me everyday.

The CPA exam is the most challenging thing I have ever encounter and reading the experiences of my fellow bloggers, really have inspired me. We can't give up!!!

AUD - PASSED
REG - PASSED

My great concern is not whether you have failed, but whether you are content with your failure.
-Abraham Lincoln

[Tati45]

Thank you Stokey45 for sharing your story and thank you 1BENTCPA for the words of encouragement. I got a failing score this week and at first I felt like giving up, angry at myself, mad at the situation and now I just have to get up and try again. It's frustrating because friends and family don't understand why I am not passing (I started studying last year and only have one section under my belt). My biggest supporter is my husband and he encourages me everyday.

The CPA exam is the most challenging thing I have ever encounter and reading the experiences of my fellow bloggers, really have inspired me. We can't give up!!!

AUD - PASSED
REG - PASSED

My great concern is not whether you have failed, but whether you are content with your failure.
-Abraham Lincoln

[samdiegoCPA]

I live 6 blocks from the Pacific Ocean and I am inside studying wahhh! People still don't get it! I tell everyone that I am studying until (insert date of exam) so I cannot do ANYTHING. They still invite me for “taco tuesday” or something… “it's just dinner”… OKAY, that's 1-2 hours I can use for studying! ARGH! It just frustrates me so much that they get annoyed or mad at me for this! I just keep telling them I am doing this so I can pay their bar tabs in the future 😛

@Casagarber To remember deductions for AGI, Roger (who I use to study) uses “I EMBRACED” HQA (I just kinda remember those last three and don't have an order for them):

Let's see if I can remember it all: student loan INTEREST, self EMPLOYMENT tax, MOVING expenses, BUSINESS expenses, RENTAL, royalty, flow through (passive), ALIMONY, CONTRIBUTIONS to retirement, EARLY withdrawal penalty, DUTY (jury), then HSA, farm income, and qualified tuition expenses?

I think just practicing your mnemonic a ton. I just think “I EMBRACE” these adjustments/deductions. That distinguishes it from Itemized which is “COMMITT”… I just think “I COMMITT” to saving all my receipts so I can itemize. My anxiety got those two mixed up during my first attempt at REG :S

I've been re-doing all my notes and incorporating homework questions into them. I've also made what I call “quick notes” which are probably similar to ninja notes, which are my same exact notes, just condensed a ton so I can read them at work in between tasks, hehe. Also have done 100 Wiley questions today. Getting a good hang of things, and missing questions for dumb reasons which I need to fix. Need to get in 100-200 more questions today. I am trying to take my time to read the entire question instead of just picking the first one I see that looks correct.

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

[samdiegoCPA]

I live 6 blocks from the Pacific Ocean and I am inside studying wahhh! People still don't get it! I tell everyone that I am studying until (insert date of exam) so I cannot do ANYTHING. They still invite me for “taco tuesday” or something… “it's just dinner”… OKAY, that's 1-2 hours I can use for studying! ARGH! It just frustrates me so much that they get annoyed or mad at me for this! I just keep telling them I am doing this so I can pay their bar tabs in the future 😛

@Casagarber To remember deductions for AGI, Roger (who I use to study) uses “I EMBRACED” HQA (I just kinda remember those last three and don't have an order for them):

Let's see if I can remember it all: student loan INTEREST, self EMPLOYMENT tax, MOVING expenses, BUSINESS expenses, RENTAL, royalty, flow through (passive), ALIMONY, CONTRIBUTIONS to retirement, EARLY withdrawal penalty, DUTY (jury), then HSA, farm income, and qualified tuition expenses?

I think just practicing your mnemonic a ton. I just think “I EMBRACE” these adjustments/deductions. That distinguishes it from Itemized which is “COMMITT”… I just think “I COMMITT” to saving all my receipts so I can itemize. My anxiety got those two mixed up during my first attempt at REG :S

I've been re-doing all my notes and incorporating homework questions into them. I've also made what I call “quick notes” which are probably similar to ninja notes, which are my same exact notes, just condensed a ton so I can read them at work in between tasks, hehe. Also have done 100 Wiley questions today. Getting a good hang of things, and missing questions for dumb reasons which I need to fix. Need to get in 100-200 more questions today. I am trying to take my time to read the entire question instead of just picking the first one I see that looks correct.

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

[samdiegoCPA]

@Tati45 I relate 100%. Been at this since October and people are confused that I still have three exams left. I tried having a life and studying and it didn't work as I failed all 4 in a row and finally passed Auditing on my 2nd try once I was serious about it. My mom still doesn't understand “make sure you're studying what you need to know!” umm… mom, I have to know EVERYTHING!

I do think we make more of a big issue out of people bugging us about things, but I mean, that's all we have for a social life, is people “yelling” at us 😛 Once we're done, none of this bickering and wondering from people will matter.

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

[samdiegoCPA]

@Tati45 I relate 100%. Been at this since October and people are confused that I still have three exams left. I tried having a life and studying and it didn't work as I failed all 4 in a row and finally passed Auditing on my 2nd try once I was serious about it. My mom still doesn't understand “make sure you're studying what you need to know!” umm… mom, I have to know EVERYTHING!

I do think we make more of a big issue out of people bugging us about things, but I mean, that's all we have for a social life, is people “yelling” at us 😛 Once we're done, none of this bickering and wondering from people will matter.

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

[Heidi-O]

Another positive way to look at it, is that we have people in our lives that miss us! I would hate to get notices from people I thought were my friends after I pass this exam that said “Now that you are done with the CPA, can you try for the Bar Exam or Medical Boards?”

SamDiegoCPA If I had to pay my friends bar tabs in the future, I would go broke! They like really nice wines! It would cheaper to fly them to France or NAPA! Lol! 😉

I'm going through my final study/review. My exam is tomorrow am (right, I know, Sunday Morning? Really?). Third time is the charm, right? It's IMPOSSIBLE to remember all of this!! I don't want to go through all this studying again! I'm killing this exam – I don't care what they say about the sims – this is my last time!!! I just hope I get some sleep tonight…

sorry to rant… just a little stressed…

FAR Aug 2012 79
AUD Oct 2012 84
REG Aug 2013 87
BEC Jan 2013 80

[Heidi-O]

Another positive way to look at it, is that we have people in our lives that miss us! I would hate to get notices from people I thought were my friends after I pass this exam that said “Now that you are done with the CPA, can you try for the Bar Exam or Medical Boards?”

SamDiegoCPA If I had to pay my friends bar tabs in the future, I would go broke! They like really nice wines! It would cheaper to fly them to France or NAPA! Lol! 😉

I'm going through my final study/review. My exam is tomorrow am (right, I know, Sunday Morning? Really?). Third time is the charm, right? It's IMPOSSIBLE to remember all of this!! I don't want to go through all this studying again! I'm killing this exam – I don't care what they say about the sims – this is my last time!!! I just hope I get some sleep tonight…

sorry to rant… just a little stressed…

FAR Aug 2012 79
AUD Oct 2012 84
REG Aug 2013 87
BEC Jan 2013 80

[Anonymous]

@Heidi-O – U NEED SLLEP ! TAKE A BENADRYL OR A TYLENOL PM AND CALL IT A NIGHT OR GO FOR SOME FRESH AIR – U SHOULDNT EVEN BE THINKING ABOUT THE EXAM OR THE MATERIALS TODAY OR TOMORROW. BREATHE WORK AND CHILLAX FOR THE EVENING. Good Luck!

p.s. You said this is the last attempt; I am assuming you don't want to do the retake due to lost cred?

[Anonymous]

@Heidi-O – U NEED SLLEP ! TAKE A BENADRYL OR A TYLENOL PM AND CALL IT A NIGHT OR GO FOR SOME FRESH AIR – U SHOULDNT EVEN BE THINKING ABOUT THE EXAM OR THE MATERIALS TODAY OR TOMORROW. BREATHE WORK AND CHILLAX FOR THE EVENING. Good Luck!

p.s. You said this is the last attempt; I am assuming you don't want to do the retake due to lost cred?

[Author]

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