REG Study Group October November 2013 - Page 209

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  • November 28, 2013 at 5:56 pm #482392
    teeteenounouche
    Member

    I haven't really focused on forms, just knowing what they are and calculations, the SIMs in CPAExcel were more helpful in understanding the tax stuff than WTB. For individual tax, I'm reviewing where everything goes on the 1040 and all of the schedules.

    Florida:
    AUD: 73, 81! Thank you Lord!
    BEC: 73, 77! Thank you Lord! and WTB
    REG: 71, 82! Thank you Lord! and A71
    FAR: 72, 78! Thank you God and my Mommy in Heaven!

    CPA Excel, Ninja Notes & Audio, Wiley Test Bank, CPAreviewforfree

    November 28, 2013 at 5:56 pm #482393
    teeteenounouche
    Member

    I haven't really focused on forms, just knowing what they are and calculations, the SIMs in CPAExcel were more helpful in understanding the tax stuff than WTB. For individual tax, I'm reviewing where everything goes on the 1040 and all of the schedules.

    Florida:
    AUD: 73, 81! Thank you Lord!
    BEC: 73, 77! Thank you Lord! and WTB
    REG: 71, 82! Thank you Lord! and A71
    FAR: 72, 78! Thank you God and my Mommy in Heaven!

    CPA Excel, Ninja Notes & Audio, Wiley Test Bank, CPAreviewforfree

    November 29, 2013 at 8:07 am #482394
    ZSRizvi
    Member

    Dammit, interim is killing me. I've already pushed my test from Nov. 30 to Jan. 4 and still can't find time to get past chapter 2 of Becker.

    I'm wondering if I'll be able to do this… =

    BEC (July 2013)
    FAR (OCT 2013)
    REG (NOV 2013)
    AUD (JAN 2014)

    The CPA Exam is an opponent that not even the Fellowship of the Ring would want to come across.

    I have a long...long...journey ahead of me.

    November 29, 2013 at 8:07 am #482395
    ZSRizvi
    Member

    Dammit, interim is killing me. I've already pushed my test from Nov. 30 to Jan. 4 and still can't find time to get past chapter 2 of Becker.

    I'm wondering if I'll be able to do this… =

    BEC (July 2013)
    FAR (OCT 2013)
    REG (NOV 2013)
    AUD (JAN 2014)

    The CPA Exam is an opponent that not even the Fellowship of the Ring would want to come across.

    I have a long...long...journey ahead of me.

    November 29, 2013 at 9:55 pm #482396
    mags603
    Member

    good luck @ZSR

    I'm testing tomorrow, saved the SIMS for review (using Becker) and just knocking them out today. They are taking me MUCH longer than I realized. Do you guys think better use of time to drill more MCQs or should I drill into SIMS?

    November 29, 2013 at 9:55 pm #482397
    mags603
    Member

    good luck @ZSR

    I'm testing tomorrow, saved the SIMS for review (using Becker) and just knocking them out today. They are taking me MUCH longer than I realized. Do you guys think better use of time to drill more MCQs or should I drill into SIMS?

    November 29, 2013 at 10:20 pm #482398
    teeteenounouche
    Member

    @mags603 I'm going through SIMs and it seems to be good for me because I just figured out that I was calculating the DRD wrong, OMG!! I am going to start doing MCQ in the next hour.

    If you can, pick topics you are not 100% on for SIMs to review and then go non-stop on the MCQs.

    Florida:
    AUD: 73, 81! Thank you Lord!
    BEC: 73, 77! Thank you Lord! and WTB
    REG: 71, 82! Thank you Lord! and A71
    FAR: 72, 78! Thank you God and my Mommy in Heaven!

    CPA Excel, Ninja Notes & Audio, Wiley Test Bank, CPAreviewforfree

    November 29, 2013 at 10:20 pm #482400
    teeteenounouche
    Member

    @mags603 I'm going through SIMs and it seems to be good for me because I just figured out that I was calculating the DRD wrong, OMG!! I am going to start doing MCQ in the next hour.

    If you can, pick topics you are not 100% on for SIMs to review and then go non-stop on the MCQs.

    Florida:
    AUD: 73, 81! Thank you Lord!
    BEC: 73, 77! Thank you Lord! and WTB
    REG: 71, 82! Thank you Lord! and A71
    FAR: 72, 78! Thank you God and my Mommy in Heaven!

    CPA Excel, Ninja Notes & Audio, Wiley Test Bank, CPAreviewforfree

    November 29, 2013 at 10:22 pm #482399
    teeteenounouche
    Member

    @ZSRizvi you can do this! Keep plugging away…

    Florida:
    AUD: 73, 81! Thank you Lord!
    BEC: 73, 77! Thank you Lord! and WTB
    REG: 71, 82! Thank you Lord! and A71
    FAR: 72, 78! Thank you God and my Mommy in Heaven!

    CPA Excel, Ninja Notes & Audio, Wiley Test Bank, CPAreviewforfree

    November 29, 2013 at 10:22 pm #482402
    teeteenounouche
    Member

    @ZSRizvi you can do this! Keep plugging away…

    Florida:
    AUD: 73, 81! Thank you Lord!
    BEC: 73, 77! Thank you Lord! and WTB
    REG: 71, 82! Thank you Lord! and A71
    FAR: 72, 78! Thank you God and my Mommy in Heaven!

    CPA Excel, Ninja Notes & Audio, Wiley Test Bank, CPAreviewforfree

    November 29, 2013 at 10:35 pm #482401
    mags603
    Member

    how were you calculating the DRD wrong?

    or rather, what is the right way? you mean the 0-19% 70% deduction 20-80 80% deduction more than 80 all deducted? (or maybe i'm doing it wrong too!)

    I got kind of confused with the alternate DRD amount when the corporation has negative earnings.

    November 29, 2013 at 10:35 pm #482404
    mags603
    Member

    how were you calculating the DRD wrong?

    or rather, what is the right way? you mean the 0-19% 70% deduction 20-80 80% deduction more than 80 all deducted? (or maybe i'm doing it wrong too!)

    I got kind of confused with the alternate DRD amount when the corporation has negative earnings.

    November 29, 2013 at 10:48 pm #482403
    teeteenounouche
    Member

    Ok, I'm just going to explain the right way so I don't confuse myself…this is just a summary of several calculations in one SIM that I reviewed

    dividends received have to be added to taxable income before any special deductions. The dividend deduction limitation % is calculated after charitable contributions are deducted from taxable income. When taxable income is negative, no charitable contribution deduction is allowed since there is a loss and the the full dividend received deduction is taken…

    Florida:
    AUD: 73, 81! Thank you Lord!
    BEC: 73, 77! Thank you Lord! and WTB
    REG: 71, 82! Thank you Lord! and A71
    FAR: 72, 78! Thank you God and my Mommy in Heaven!

    CPA Excel, Ninja Notes & Audio, Wiley Test Bank, CPAreviewforfree

    November 29, 2013 at 10:48 pm #482406
    teeteenounouche
    Member

    Ok, I'm just going to explain the right way so I don't confuse myself…this is just a summary of several calculations in one SIM that I reviewed

    dividends received have to be added to taxable income before any special deductions. The dividend deduction limitation % is calculated after charitable contributions are deducted from taxable income. When taxable income is negative, no charitable contribution deduction is allowed since there is a loss and the the full dividend received deduction is taken…

    Florida:
    AUD: 73, 81! Thank you Lord!
    BEC: 73, 77! Thank you Lord! and WTB
    REG: 71, 82! Thank you Lord! and A71
    FAR: 72, 78! Thank you God and my Mommy in Heaven!

    CPA Excel, Ninja Notes & Audio, Wiley Test Bank, CPAreviewforfree

    November 29, 2013 at 10:52 pm #482405
    sapna1208
    Participant

    @eeteenounouche : U are right…

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