[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

[NYCaccountant]

@Amor D. Nice mnemonics!

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

[Melans]

@Amay Thank you, I also got emailed the 2014 one about an hour ago.

@jfernandes256 I do have both Ninja questions and Wiley that are updated, but I like to review the latest questions (isolated from the others)- as there is a part of that feels like I could see those on my test, so I want them to be fresh. It might be a silly thing, but it makes me feel better, so I do it each test.

Created with Compare Ninja

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

[jfernandes256]

@Melans I understand. Apart from what Amay recommended above, the Ninja MCQ are really a good resource to use and they are directly from the AICPA.

[yassy]

Just got home from taking REG! I felt worse about it this time than last but I think it might just be because of the long wait ahead and the pressure I feel to pass this time. Anyways, thanks so much everyone for your support and encouragement. I look forward to hearing about how you all nailed it! 🙂 xxxx

FAR 75 (8/21/13)
AUD 72 (10/29/13) 74 (2/12/14) 84! (04/01/14)
BEC 75 (11/27/13)
REG 72 (05/29/14) 74 (07/10/14) 86 and DONE! (10/02/14)

[Anonymous]

@Amay, FIT could also mean Federal Income Tax.

1) FIT under Individual Taxation Diagram

FIT

<Tax Credits>

Other Taxes

<Payments>

---

Tax Due or Refund

===========

2) FIT as one of the nondeductible expenses on Schedule C

3) FIT are NOT one of those **Taxes Paid** that are part of Itemized Deductions (**State Taxes; Foreign Taxes; Local Taxes**)

About your mnemonic FIT above, NINJA notes say “PARTNERSHIP CAN'T USE CASH BASIS IF: Partnership is a tax shelter.”

My question is, can we use cash basis as tax shelters for C-Corp?

[Anonymous]

How are we going to remember tax rates and income brackets? Will the tax table be given during the test?

[Anonymous]

@yassy–I felt felt worse about my second AUD test than my first and I scored 20 points higher! It ain't over til score release day! Don't let that feeling get you down. I'm sure you did great!

[yassy]

Thanks @CPAMommyof3! Trying to keep my head up and enjoy the rest of the month with a clear mind 🙂

FAR 75 (8/21/13)
AUD 72 (10/29/13) 74 (2/12/14) 84! (04/01/14)
BEC 75 (11/27/13)
REG 72 (05/29/14) 74 (07/10/14) 86 and DONE! (10/02/14)

[jeff]

NINJA Shannon – June study break is over … looking ahead to REG

https://www.another71.com/ninja-cpa-blogger-shannon-3/

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

[Anonymous]

So Im trending 60 only using new questions with 16 hours (on MCQ clock) in and 18 days to go. I feel like Im a test subject for Ninja MCQ

Im not using any lectures, I have ninja notes but didnt look at them too much yet.

[Anonymous]

@Darcer–Me too! No lectures or books. Hopefully it will work well for both of us and we can promote Ninja materials and save a lot of people a TON of money!! The cost of review materials are INSANE!

[Anonymous]

CPAMommyof3 – Not sure when you are taking REG but Good Luck!!

[Anonymous]

Thanks Kenada! 07/19. I guess I should change my signature. 🙂

[Amay]

@Amor if you have Becker, look at R3-27 (Corp tax chapter). It says accrual basis is required for tax shelters. So neither corp nor partnership tax shelters are allowed to use cash basis.

My FIT mnemonic is really as it applies to corporations only, but I know that partnerships with a C-corp as a partner for example also must use the accrual method.

Oh and I had forgotten certain farming corps, so I guess I'll use a double F :p

F – Five ($5) million or more avg gross receipts for last 3 yrs

F – Farming corps

I – Inventory (if corp has inventory purchase/sales)

T – Tax shelters

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]

Thanks, Amay.

I was thinking of cash basis, while you were referring to accrual basis. My mistake. Again, we have to really always RTMFQ. LOL

[Author]

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