REG Study Group October November 2013 - Page 37

Viewing 15 replies - 541 through 555 (of 3,212 total)
  • Author
    Replies
  • #479757
    Skrier
    Member

    @insiyah24….I was just listening to that on the news. How sad!!

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

    #479776
    Skrier
    Member

    @insiyah24….I was just listening to that on the news. How sad!!

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

    #479759
    Qlad
    Member

    Doing bankruptcy…got a question…once the debtor files bankruptcy…does the creditor can come after the income he might earn after filing bankruptcy ( that is not exempt income ?) I know 180 days limit for inheritance ….but i want to know if the debtor was unemployed but got a job after sometime (say 1 year or 2 years) of filing bankruptcy…could the creditors ask for some share what he earned afterwards… I mean i want to know what happens in real life once a filing is done??? how does a person survive that what i earn now will not be taken away from me…???…

    FAR 72,71,81 πŸ™‚
    AUD 64,71, 72, 75 πŸ™‚ I'm done !!!
    REG 73, 74, 74, 84 πŸ™‚
    BEC 76 πŸ™‚

    #479778
    Qlad
    Member

    Doing bankruptcy…got a question…once the debtor files bankruptcy…does the creditor can come after the income he might earn after filing bankruptcy ( that is not exempt income ?) I know 180 days limit for inheritance ….but i want to know if the debtor was unemployed but got a job after sometime (say 1 year or 2 years) of filing bankruptcy…could the creditors ask for some share what he earned afterwards… I mean i want to know what happens in real life once a filing is done??? how does a person survive that what i earn now will not be taken away from me…???…

    FAR 72,71,81 πŸ™‚
    AUD 64,71, 72, 75 πŸ™‚ I'm done !!!
    REG 73, 74, 74, 84 πŸ™‚
    BEC 76 πŸ™‚

    #479761
    LSNYC
    Member

    I swear I am so unmotivated trying to get back in to the study mode! Test Nov 9th and really don't want to move it! Here goes nothing!

    A - 61, 91!!
    B - 78!
    F - 76!!!
    R - 71, 73, 74, 69, 77!!!!

    Finally done!

    This is my 2nd attempt at the exam, I had two parts passed (failed many) and I stupidly quit, big mistake. Now I'm back and with a vengeance!

    #479780
    LSNYC
    Member

    I swear I am so unmotivated trying to get back in to the study mode! Test Nov 9th and really don't want to move it! Here goes nothing!

    A - 61, 91!!
    B - 78!
    F - 76!!!
    R - 71, 73, 74, 69, 77!!!!

    Finally done!

    This is my 2nd attempt at the exam, I had two parts passed (failed many) and I stupidly quit, big mistake. Now I'm back and with a vengeance!

    #479763
    ssiegri
    Participant

    Qlad.. I believe it's the opposite of what you're thinking.. The debtor has an automatic stay against the creditor after the point of filing a bankruptcy petition, which creditors can dispute if exceptions apply, meaning they can't collect on debts after that point in a chapter 7 (unless its a non-dischargeable debt).. a trustee then basically controls the liquidation process of your assets and creditors receive the proceeds of those assets pro-rata based on their security interest in the loan..

    #479782
    ssiegri
    Participant

    Qlad.. I believe it's the opposite of what you're thinking.. The debtor has an automatic stay against the creditor after the point of filing a bankruptcy petition, which creditors can dispute if exceptions apply, meaning they can't collect on debts after that point in a chapter 7 (unless its a non-dischargeable debt).. a trustee then basically controls the liquidation process of your assets and creditors receive the proceeds of those assets pro-rata based on their security interest in the loan..

    #479765
    Qlad
    Member

    @ssiegri

    oh so the creditor is the poor guy here…just confused about all this …may be need to Google and read more about this…to get the concept of what happens next…

    thanks πŸ™‚

    FAR 72,71,81 πŸ™‚
    AUD 64,71, 72, 75 πŸ™‚ I'm done !!!
    REG 73, 74, 74, 84 πŸ™‚
    BEC 76 πŸ™‚

    #479784
    Qlad
    Member

    @ssiegri

    oh so the creditor is the poor guy here…just confused about all this …may be need to Google and read more about this…to get the concept of what happens next…

    thanks πŸ™‚

    FAR 72,71,81 πŸ™‚
    AUD 64,71, 72, 75 πŸ™‚ I'm done !!!
    REG 73, 74, 74, 84 πŸ™‚
    BEC 76 πŸ™‚

    #479767
    Qlad
    Member

    wow…no posts yesterday….luks like everyone is on break…just hoping someone will clear my confusion here…

    If a child is 19 years old …full time student…earned $ 4500 ( above the exemption limit) and not a resident due to away for school… but supported more than 50% by parents…can she/he be a qualifying child? why…

    FAR 72,71,81 πŸ™‚
    AUD 64,71, 72, 75 πŸ™‚ I'm done !!!
    REG 73, 74, 74, 84 πŸ™‚
    BEC 76 πŸ™‚

    #479786
    Qlad
    Member

    wow…no posts yesterday….luks like everyone is on break…just hoping someone will clear my confusion here…

    If a child is 19 years old …full time student…earned $ 4500 ( above the exemption limit) and not a resident due to away for school… but supported more than 50% by parents…can she/he be a qualifying child? why…

    FAR 72,71,81 πŸ™‚
    AUD 64,71, 72, 75 πŸ™‚ I'm done !!!
    REG 73, 74, 74, 84 πŸ™‚
    BEC 76 πŸ™‚

    #479769

    Gross income is not one of 4 tests of a qualifying child: Support, Age, Residence, and Relationship

    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

    #479788

    Gross income is not one of 4 tests of a qualifying child: Support, Age, Residence, and Relationship

    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

    #479771
    stoleway
    Participant

    Qlad…..The child can still be claimed by the parents once he or she is a full time student and is being supported by the parents.

    Gross income does not play any factor here, I think there is also an age limit.

    REG -63β”‚ 84!!
    BEC- 59β”‚70β”‚ 71 β”‚78!
    AUD- 75!
    FAR- 87!

    Mass-CPA

Viewing 15 replies - 541 through 555 (of 3,212 total)
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