[jeff]

Welcome to the Q3 2017 CPA Exam Study Group for REG. 🙂

Introduce yourselves and let your fellow NINJAs know when you plan to take your REG exam.

The Five Steps (NINJA Framework): https://www.another71.com/pass-the-cpa-exam/

[Holly]

What throws me off about that interest question is that it says she's a sole proprietor and uses it for her business. Would it be deducted on sch c?

BEC - 79
REG - 85
AUD - 5/27/16

[Lou]

You're right Holly. This would be reported in Sched C. I misread the question, this is not about an itemized deduction, but interest is treated the same way (must be incurred and paid to be deductible).

[Holly]

Does anyone know how the “do not study” list for NINJA MCQ works? It says they're in the process of removing.

BEC - 79
REG - 85
AUD - 5/27/16

[Holly]

I guess what I'm asking is if they'll automagically (stole that from Jeff) be gone one day, if we'll be notified, will something replace those categories so I need to check instead of mindlessly unchecking then while customizing my questions, etc.

BEC - 79
REG - 85
AUD - 5/27/16

[Julia]

@holly. I was wondering same thing. Im just going forward and studying.
He said he was changing audio by June 17. Maybe same thing?
I sit July 3

[aishwaryaganesh186]

Hello everyone! I just took BEC and AUD in Q2 and will take REG on Oct 2. I am pregnant and due in September so though I have a lot of time for REG, I am worried if i'll be able to finish everything on time..

I really appreciate tips and suggestions on how to start studying for REG from people who are studying or already passed..

FAR: 79
BEC: Waiting for result
AUD: Waiting for result
REG: Oct 2, 2017

Thanks!

[Julia]

I had a question before on a ninja question #1550 entity transactions. I can't find it now, it might have been removed.
What value do u use when looking at corp contributions.
It looks like u always use adjusted value. If not 80% ownership then u recg a gain if FMV of corp interest is higher.
But it is clear never use FMV.

[aishwaryaganesh186]

Btw, I am using Roger as study material..

[wakefern58]

Could someone help me clarify something? =}

Are medical insurance premiums of self-employed individuals (Sole Proprietors, Partners) included when computing the Self Employment tax?
Since for a sole proprietor this med insurance premium expense is not deductible on Schedule C and also for the partner, the medical insurance premium is included as guaranteed payments to the partner. These are subject to Self Employment tax but i wasnt sure if the med insurance premiums were deducted when computing the SE tax.

[Julia]

@wake For an individual: insurance premium above agi. It has to b in their name or their buissness name.
For a partnership it is treated as self emp income. S corp also treat it as self emp income.
The ninja notes detail that.

[Holly]

@aishwaryaganesh186 good luck! I tried when pregnant/new mom and couldn't do it! I sure hope you can and you get this behind you!

BEC - 79
REG - 85
AUD - 5/27/16

[Holly]

Anyone else having trouble getting into NINJA MCQ? I was going specifically to look at @Julia ‘s question.

BEC - 79
REG - 85
AUD - 5/27/16

[Julia]

It stopped working last night bout 11.

[Umer Bhutto]

anyone here using Wiley TB for REG. how's your experience with it so far.

[Anonymous]

I hit a wall studying R4 and haven't opened the book since last Friday. I have lost all motivation. Has anyone else taken a “Break” week while studying? I didn't take any time between taking AUD and studying for REG, the loss in motivation is likely a consequence. Any suggestions?

[Author]

Replies