[jeff]

Free Study Planner, Notes, Audio, Flashcards: https://www.another71.com/cpa-exam-study-plan/

Free CPA Exam Survival Guide: https://www.another71.com/cpa-exam-survival-guide/

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

[Melans]

Swirling in a sea of C-corp rules…. So much info.

Earnings and profit calculations more closely resemble book income than tax income correct?

AUD 7/30/12 73; 12/2/13 85
BEC 7/19/13 81
REG 8/2/14 83
FAR - Jan 2015

[Dan T]

Umm this has probably been asked for in previous threads, but for Q3 are we being tested on 2014 or 2013 amounts? (standard deduction, exemptions, etc.)

AUD - 75 ☺
FAR - 65, 71, 70, 77 ☺
BEC - 80 ☺
REG - 73, 66, 79 ☺ 2/28/15

Done!

[h0wdyus]

2014 code as far as I understand.

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

FROM NJ

[Dan T]

thanks, so my wiley material is a little dated, ill just look online for updated amounts

AUD - 75 ☺
FAR - 65, 71, 70, 77 ☺
BEC - 80 ☺
REG - 73, 66, 79 ☺ 2/28/15

Done!

[h0wdyus]

Online could be very cumbersome, but is an option. Keep in mind the Wiley 2014 book has 2013 code which is valid till May 31 2014 exam. You could buy a text book with 2014 code in it and compare Wiley 2014 but they are expensive. You could rent from amazon for a lot cheaper. Jeff had pointed out yesterday that ninja notes have updates too.

Let me know which option you are going with.

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

FROM NJ

[Dan T]

hmm, I was planning on buying the ninja notes eventually so I'll just use that as reference for the 2014 amounts, glad to know they're up to date. Thanks

AUD - 75 ☺
FAR - 65, 71, 70, 77 ☺
BEC - 80 ☺
REG - 73, 66, 79 ☺ 2/28/15

Done!

[Kimboroni]

I'm probably weird, but I'm really looking forward to the REG material. I just took FAR today and have already started reading the first chapter for REG. It starts with business law in Wiley, so that's what I'm starting with. That also gives more time to make sure WTB's tax law is updated when I start working on it. I'm so glad people are asking about that here, or I may have overlooked it.

AUD 84 (1/9/14-Wiley books/TB + free materials)
FAR 83 (5/21/14-the above + NINJA 10 Pt Combo Lite)
REG 84 (7/9/14-Wiley books/TB + NINJA Audio/FC/Notes)
BEC 76 (10/5/14-Wiley books/TB + NINJA Audio/FC)

Disclaimer: My ninja avatar is not meant to imply that I have any affiliation with this site other than being a forum member. That's a pic of a T-shirt that my daughter gave me for my birthday. 🙂

[JMOR]

I talked to a Wiley rep today and she said that they will release a new book with 2014 tax law changes in it around mid June. They will also update the test bank then. If you have the 2014 book already you can email them to get a summary of the changes. I'm testing on 7/1. Good luck everyone!

REG - 86
FAR - 74,
BEC - 72,
AUD -73,

[Kelestrel]

Checking in! This'll be my first time testing any section. I'm probably way too excited about this. I picked REG to do first since I have more experience with tax than anything else, and hopefully it'll be a good way to get used to the whole process before taking on harder sections. I'm using Gleim, Wiley Test Bank and Ninja MCQ.

@JMOR Thanks for sharing that info! I was wondering how updates would work with Wiley.

REG Aug 16, 2014
FAR Oct 04, 2014
AUD Feb 15
BEC May 15

[Melans]

Kelestrel – I am a Bob's Burgers fan, and your picture is excellent, nice choice! You can't be too excited, that will help keep you motivated!!

AUD 7/30/12 73; 12/2/13 85
BEC 7/19/13 81
REG 8/2/14 83
FAR - Jan 2015

[Kelestrel]

Melans – Thanks! I love the show too. It's all I can do not to get my own set of ears.

I'm at least starting with tons of motivation! The Gleim material is arriving at my home today, and I'm sitting at work refreshing the UPS tracking constantly. I'm so glad I finally took the plunge and got started. I've been telling my husband for months that I'm going to disappear into studying, yet when I told him I plan to study about 25-30 hours per week he was shocked. I feel like we're on a roller coaster, inching our way out of the station and up the first big hill.

For you guys who have tested before, how are you feeling? Is it like a “here we go again…” kind of thing, or do you still get excited?

REG Aug 16, 2014
FAR Oct 04, 2014
AUD Feb 15
BEC May 15

[Mamabear]

i definitely wouldn't call what I'm feeling “excited”, but I'm determined that this will be last test so I'm going to go with “reluctantly motivated”. 🙂 Keep up that enthusiasm!! You will be glad you went into this with lots of motivation!

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!!

[Anonymous]

Hello I'm so confuse about charitable contribution, one of the question fr wiley he deducted net operating loss carryforward to get the adjusted taxable income. As per my understanding to get the maximum deduction, it will 10% income before special deduction. Pls see below questionnaire:

During 2012, Jackson Corp had the ff income and expenses:

Gross income fr operations $100000

Dividend income fr taxable domestic 20% owned corp 10000

Operating exp 35000

Officer's salaries 20000

Contribution to qualified charitable org 8000

Net operating loss carryforward from 2011 30000

What is the amount of Jacksons charitable contribution carrryover to 2013?

A. 0

B. $2500

C. $5,500

D. $6,300

Could you please explain to me why the answer is C $5500?

Thank you!

[Amay]

Hi guys! I just received my passing score for FAR. So happy that nightmare is over!! Gotta get my mind around studying for my final one now, REG! Would love to know the cut off date for the first wave of Q3 score release to schedule accordingly. I think I need 7 weeks for this one…it is definitely my weakest of all the topics.

BEC: 73, 81
AUD: 85
FAR: 71, 77
REG: 74, 75...finally DONE! 😀

*This is my 2nd attempt at the CPA exam. For all of you who have failed this exam many times, given up on it, or taken a break like me, remember that it is still possible to finish what you started...failure is the opportunity to begin again more intelligently 🙂

[Anonymous]

Cclapido – It Almost feels they did the following

Gross Income 100,000

+Dividend Income 10,0000

Less Expenses

Operating exp 35000

Officer's salaries 20000

……………………………………

AGI Income – 55,000

Since you have an NOL from 2011 you first deduct it from 55,000 as you get a Tax benefit from the loss of 30,000

So now you have 25,000 so 10% of that is 2,500 that you can claim in 2012. The balance 5,500 is what you carry forward.

I did Reg a while back so a bit rusty. Hope someone else can jump in and correct me .

[Author]

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