[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

[Vienna]

I didn't spend a lot of time on the simulations when I studied in the past. That was ok for my first attempt (scored comparable) but totally killed me during my second attempt (scored weaker). However, I'm not sure if the simulations in Becker would have helped me, because it seems that those included in the materials are fairly easy compared to what I had the second time (July 2013).

[Vienna]

I didn't spend a lot of time on the simulations when I studied in the past. That was ok for my first attempt (scored comparable) but totally killed me during my second attempt (scored weaker). However, I'm not sure if the simulations in Becker would have helped me, because it seems that those included in the materials are fairly easy compared to what I had the second time (July 2013).

[Kenada]

I find doing the SIM's helps me personally. So I will focus on doing the SIM's esp for the tax questions cause a lot of people have mentioned SIM's seem to be heavily based on tax topics.

Thats good Alimony recapture is not heavily tested and its better to be safe than sorry. At least now we know how to do a recapture and should we see it in the exam its good for us 🙂

FAR 05/27/14; 786/110 - Done !

[Kenada]

I find doing the SIM's helps me personally. So I will focus on doing the SIM's esp for the tax questions cause a lot of people have mentioned SIM's seem to be heavily based on tax topics.

Thats good Alimony recapture is not heavily tested and its better to be safe than sorry. At least now we know how to do a recapture and should we see it in the exam its good for us 🙂

FAR 05/27/14; 786/110 - Done !

[Skrier]

@svwCPA72….I find it is helpful to work through the SIM's, although the content may be very different in the review software from the actual exam, it gives you a good idea of how the exam SIM's will work. Being that it has been awhile since you have tested, it may be beneficial for you to work through them at least once. I plan to work through all the SIM's again once I have completed all the MCQ's just to be sure I haven't missed any concepts. Good Luck!!

AUD- 84
FAR- 75
REG- 78...I am DONE!!!
BEC- 79

[Skrier]

@svwCPA72….I find it is helpful to work through the SIM's, although the content may be very different in the review software from the actual exam, it gives you a good idea of how the exam SIM's will work. Being that it has been awhile since you have tested, it may be beneficial for you to work through them at least once. I plan to work through all the SIM's again once I have completed all the MCQ's just to be sure I haven't missed any concepts. Good Luck!!

AUD- 84
FAR- 75
REG- 78...I am DONE!!!
BEC- 79

[svwCPA72]

Thanks! I think I will work a couple but not all of them. I also got Wiley so I might do some in there.

Skrier. I have been trying to pass Audit in that time I haven't taken Reg. So i have been taking tests but not Reg. Do you think since I have taken Audit I would be ok with the sims or do you think that the sims for Reg are so different from the sim for audit that I should go over a couple?

Thanks! Good luck everyone!

BEC: 80(8/10) expired, 77(10/14)!!!
FAR: 79(11/10) expired, 80(8/14)!!!
REG: 66(7/11), 70(1/12), 70(4/12), 73(10/13), 79(5/14)!!
AUD: 43(8/11), 64(10/11), 65(2/12), 69(7/12) 64(10/12), 73(5/13), 64(7/13), 84(11/13)!!! Thank you Another71 for your help!

Becker, Ninja Notes, Audio, Flashcard and Wiley test bank
Yaeger and Wiley book for Audit

I AM DONE!!!!

[svwCPA72]

Thanks! I think I will work a couple but not all of them. I also got Wiley so I might do some in there.

Skrier. I have been trying to pass Audit in that time I haven't taken Reg. So i have been taking tests but not Reg. Do you think since I have taken Audit I would be ok with the sims or do you think that the sims for Reg are so different from the sim for audit that I should go over a couple?

Thanks! Good luck everyone!

BEC: 80(8/10) expired, 77(10/14)!!!
FAR: 79(11/10) expired, 80(8/14)!!!
REG: 66(7/11), 70(1/12), 70(4/12), 73(10/13), 79(5/14)!!
AUD: 43(8/11), 64(10/11), 65(2/12), 69(7/12) 64(10/12), 73(5/13), 64(7/13), 84(11/13)!!! Thank you Another71 for your help!

Becker, Ninja Notes, Audio, Flashcard and Wiley test bank
Yaeger and Wiley book for Audit

I AM DONE!!!!

[terranz]

@insiyah24

here is the formula I have memorized for alimony recap (which might be easier on the eyes than IRC site):

yr 1 50000

yr 2 20000

yr 3 0

so year 2 recap = yr 2 – 15000

= 5000

then year 1 = yr 1 paid – [15000 – AVERAGE of ((yr 2- yr 2 Recap) + year 3))

so this is 50000 – [15000 + (((20000-5000) + 0) /2) ]

=50000 – [15000 + 7500]

=50000 – 22500

=27500

total recap = yr 2 recap + yr 1 recap

= 27500+5000

=32500

hope this helps @insiyah24! dont know if it confuses you more.

btw, in retrospect i prob should've listed my AMT issues here, but could and of y'all provide any thoughts on AMT?

https://www.another71.com/cpa-exam-forum/topic/jeff-and-any-other-regamt-gurus-amt-is-driving-me-crazy

thanks

[terranz]

@insiyah24

here is the formula I have memorized for alimony recap (which might be easier on the eyes than IRC site):

yr 1 50000

yr 2 20000

yr 3 0

so year 2 recap = yr 2 – 15000

= 5000

then year 1 = yr 1 paid – [15000 – AVERAGE of ((yr 2- yr 2 Recap) + year 3))

so this is 50000 – [15000 + (((20000-5000) + 0) /2) ]

=50000 – [15000 + 7500]

=50000 – 22500

=27500

total recap = yr 2 recap + yr 1 recap

= 27500+5000

=32500

hope this helps @insiyah24! dont know if it confuses you more.

btw, in retrospect i prob should've listed my AMT issues here, but could and of y'all provide any thoughts on AMT?

https://www.another71.com/cpa-exam-forum/topic/jeff-and-any-other-regamt-gurus-amt-is-driving-me-crazy

thanks

[Skrier]

@svwCPA72….if you have been testing then I think you will be good with the SIM's only the content changes between exams, with the exception of BEC of course since those are written SIM's 🙂

AUD- 84
FAR- 75
REG- 78...I am DONE!!!
BEC- 79

[Skrier]

@svwCPA72….if you have been testing then I think you will be good with the SIM's only the content changes between exams, with the exception of BEC of course since those are written SIM's 🙂

AUD- 84
FAR- 75
REG- 78...I am DONE!!!
BEC- 79

[Kenada]

Thank you terranz 🙂

I will look at AMT in a bit just trying to finish all my Wiley home work questions on Individual taxes. I will then give you what I have for AMT and the way I remember what goes where when doing AMT 🙂 Not great at it but I think i kind of understand it better now.

FAR 05/27/14; 786/110 - Done !

[Kenada]

Thank you terranz 🙂

I will look at AMT in a bit just trying to finish all my Wiley home work questions on Individual taxes. I will then give you what I have for AMT and the way I remember what goes where when doing AMT 🙂 Not great at it but I think i kind of understand it better now.

FAR 05/27/14; 786/110 - Done !

[Kenada]

Ok this is how i understand AMT Individuals

The whole idea of AMT is the IRS wants to nickel and dime you out of every cent that they possible can LOL…

So have already calculated our tax due by taking all the adjustments and deductions from our Gross Income.

We now have value of what the tax due is and now need to compare it to this Alternative method the IRS has to see what your Tax due should be.

Start with

Regular taxable Income.

+ or – Adjustments and Preferences (these were all the adjustments and preferences you were allowed before to get your tax due)

AMTI before exemption

Less the Exemption they have set for AMT calculations (51,950 S or 80,750 MFJ) You can see from the exemption they give a large amount to compensate for all the adjustments and preference you had to add back above.

AMTI

* Tax rate .. i think that is 26 % or 28 %

Tentative Min Tax

Now you compare your Tentative Min Tax with your Tax Due.

Since i mentioned the IRS wants to nickel and dime you, if your tax due is less than the tentative Min tax you have to pay the additional difference plus your tax due,

If your tax due is less then your Tentative Min tax then well you can just pay the full Tax due. Can't reduce it by the negative AMT 🙂

I think Becker has their own Mnemonic to remember what those adjustments and preferences are. Rogers has its own.

Just remember it will be things like your Std deductions, State Income taxes, medical Expenses under 10% AGI, the interest on your Home Mortgage, Excess Depn, personal exemptions etc.

All these things you should be aware of as those are the items that were part of your “Adjustments” to come to AGI and also your Deductions to come to = Taxable Income.

I hope this helps 🙂

FAR 05/27/14; 786/110 - Done !

[Author]

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