[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/

[Anonymous]

On February 1, 2014, Pam Baker purchased an $861,000 machine (5-year property) for use in her business. Pam expensed $25,000 under Section 179 in addition to the regular depreciation of 20% in 2014 and 32% in 2015. Pam's total deductions for 2014 and 2015 for the machine are:

A. $192,200 (2014) and $267,520 (2015).

B. $172,200 (2014) and $267,520 (2015).

C. $172,200 (2014) and $275,520 (2015).

D. $192,200 (2014) and $275,520 (2015).

…………………………………………………………………

for the given answer, Pam takes the 179 deduction. I though you could not take any deduction once the piece of equipment cost $225,000 (phaseout dollar for dollar after $200,000)

[peko8535]

@ CPAMommy, I think at this point in time, we've put the work in. Now its all about attitude and just believing in yourself for exam day. I wouldn't burn yourself out too much.

I like what you said you did before your other exams. Review some notes, and go over the big stuff. Don't fret, eat some ice cream (my favorite way to relax!) and be happy about all the work you did to prepare yourself for tomorrow.

FAR - Passed! 8/23/13 (Becker Self Study and Ninja Audio)
REG - Passed! 7/24/13 (Becker Self Study and Ninja Audio)
AUD - Passed! 8/25/14 (Becker Self Study and Ninja Audio)
BEC - Passed! 11/23/14(Becker Self Study and Ninja Audio)

Now Gimme my Bonus!!!

[Mamabear]

Thanks Peko! I'm ready for this to be OVER! How are you doing with your studies? Testing on Wednesday I see.

@Darcer–I am also confused by that and the IRS publication is not helping me understand it, but just using the straight percentages I get answer C. What's the right answer?

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]

I put C, they put A

They let her take the deduction, (in full) and I don;t know why.

[Mamabear]

Any chance that is an old question with the higher threshhold?

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]

that's what I am thinking(hoping)

[peko8535]

@CPAMommy

haha I'm actually testing Thursday, just updated the profile to reflect that lol.

My studies are going alright. I'm having a really hard time studying over going out and having fun, but I'm trying to be as disciplined as possible. Friends hate me lately haha! Today my goal is to try and rework all of the Becker simulations, and after each one I go over it in detail to see what I missed and how I can improve. Its been a couple hours and i'm only through R1, but I'm hoping I can stay focused and get through these. I'm a move at a slow rate so this might be a tough goal for the day. If I can get through the SIMS today or by tomorrow at the latest, I'd be pretty happy.

Just gotta stay strong!

FAR - Passed! 8/23/13 (Becker Self Study and Ninja Audio)
REG - Passed! 7/24/13 (Becker Self Study and Ninja Audio)
AUD - Passed! 8/25/14 (Becker Self Study and Ninja Audio)
BEC - Passed! 11/23/14(Becker Self Study and Ninja Audio)

Now Gimme my Bonus!!!

[Mamabear]

You can do it peko! i am so burnt out right now. I don't want to read any notes or do any MCQ, but I don't feel ready for tomorrow at all. I can't keep all these straight. Pre-Ace Adjustments, Pre-Ace Preferences, Itemized deductions, 2% threshold, no threshold, reduction in AGI. Arrggg! There are too many mneumonics.

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]

Good Luck tomorrow @Mamabear! You'll do fine.

[jfernandes256]

@Mamabear We believe in you! 😀

[Anonymous]

FYI, anyone hoping to use their CPAexcel to study tonight… it's down 🙁

Only 6 days till my exam :-/

[Mamabear]

Thanks guys! I appreciate the encouragement!

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!!

[Kimboroni]

Good luck tomorrow, Mamabear! You've got this!

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. 🙂

[Tax lady]

I wish you the best tomorrow Mamabear! It sounds like you are going to do great based on your quiz scores. 🙂

REG 8/15/14 (73); 11/13/14 (82)-expired 🙁
AUD 5/30/15 (80)
BEC 11/28/15 (75)
FAR 7/30/16

Studying with CPAexcel and Ninja notes/MCQ's/Flashcards

[Anonymous]

Hey all,

This is my first post on Another71, but I have to admit I have been a pretty dedicated follower of the forum ever since beginning my CPA exams.

I took REG a couple days ago so I wanted to share my experience. The majority of my MCQs were tax-related as is to be expected. Overall, I felt pretty decent about the MCQs as I was able to confidently answer most of the questions. However, there were several questions that were completely out of the blue so I'm hoping they were pre-test. As for the simulations, they were very difficult and on another level from what I saw during FAR. And for anyone who has taken FAR, those simulations aren't easy. Be prepared for anything and everything when it comes to REG. Good luck to everyone taking their exam in the coming days. Praying we do well enough to pass!

[Author]

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