[jeff]

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Jeff Elliott, CPA (KS) | Another71 | NINJA CPA | NINJA CMA | NINJA CPE

[Anonymous]

I got $72,000. A LESS than 20% is 70% DRD, 20%-79% is 80% DRD. I think you may have used 70%. Anyways here is the calc. I used:

Gross Inc: $160k

Bus Deduct: ($170k)

Div Inc: $110k

=Taxable Inc: $90K

DRD Rate 80%= ($72k)

Taxable Income after DRD: $18k

What is a little confusing is if the dividend inc. of $100k is already in the $160k gross income…I am guessing it is not.

[Anonymous]

I got $72,000. A LESS than 20% is 70% DRD, 20%-79% is 80% DRD. I think you may have used 70%. Anyways here is the calc. I used:

Gross Inc: $160k

Bus Deduct: ($170k)

Div Inc: $110k

=Taxable Inc: $90K

DRD Rate 80%= ($72k)

Taxable Income after DRD: $18k

What is a little confusing is if the dividend inc. of $100k is already in the $160k gross income…I am guessing it is not.

[OCDisME]

@stokey…THANK YOU! I really appreciate your input and that is kind of what I was thinking…there may be more business law in the MCQ and tax in the sims. That really sucks about the calculator moving. I noticed that clicking near an answer would change my answers in Becker, too. It's kinda annoying! I hope that you got a passing score! I'm taking my exam on 10/12 so we'll be getting our results at the same time…I hope we both pass!

@ insiyah24 Yes, my question about the ISO and ESPP was referring to individual taxation. There is a small section on it in Becker, a couple multiple choice and there are two sims that cover it too. It seems like it's just a memorization thing, but I was wondering if anyone had any tricks they were using.

Becker Online - IL Candidate

FAR: 85
AUD: 85
BEC: 78
REG: 90

[OCDisME]

@stokey…THANK YOU! I really appreciate your input and that is kind of what I was thinking…there may be more business law in the MCQ and tax in the sims. That really sucks about the calculator moving. I noticed that clicking near an answer would change my answers in Becker, too. It's kinda annoying! I hope that you got a passing score! I'm taking my exam on 10/12 so we'll be getting our results at the same time…I hope we both pass!

@ insiyah24 Yes, my question about the ISO and ESPP was referring to individual taxation. There is a small section on it in Becker, a couple multiple choice and there are two sims that cover it too. It seems like it's just a memorization thing, but I was wondering if anyone had any tricks they were using.

Becker Online - IL Candidate

FAR: 85
AUD: 85
BEC: 78
REG: 90

[Qlad]

@cupcake…what u did is right….i don't know why i always get confused …but shouldn't you do Div. received 100000*80/100…..???….i mean why the answer is not 80000

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

[Qlad]

@cupcake…what u did is right….i don't know why i always get confused …but shouldn't you do Div. received 100000*80/100…..???….i mean why the answer is not 80000

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

[Skrier]

@Qlad….the DRD deduction applied to the lesser of dividend received or taxable income. In this example the taxable income ($90,000) is less than the actual dividend received ($100,000) therefore the DRD is 80% of 90,000. Hope this makes sense.

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

[Skrier]

@Qlad….the DRD deduction applied to the lesser of dividend received or taxable income. In this example the taxable income ($90,000) is less than the actual dividend received ($100,000) therefore the DRD is 80% of 90,000. Hope this makes sense.

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

[Qlad]

thanks skrier…if i do blaw…i forget tax and vice versa…don't kno what to do…

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

[Qlad]

thanks skrier…if i do blaw…i forget tax and vice versa…don't kno what to do…

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

[Skrier]

@Qlad…I was having the same problem, to get past that I am taking a progress test of all chapters completed each time I finish new material, that way it is still somewhat familiar to me. I will be finishing Chapter 7 in Becker today so my progress test later today or tomorrow will consist of Chapters 1-7 most likely 175 MCQ's I try to do at least 25 questions per chapter on a progress test it is a manageable number and still gives me a good spread of topics in the chapter. I also review the notes I have written daily so they stay fresh in my mind, otherwise I forget all the earlier material. Good Luck!!

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

[Skrier]

@Qlad…I was having the same problem, to get past that I am taking a progress test of all chapters completed each time I finish new material, that way it is still somewhat familiar to me. I will be finishing Chapter 7 in Becker today so my progress test later today or tomorrow will consist of Chapters 1-7 most likely 175 MCQ's I try to do at least 25 questions per chapter on a progress test it is a manageable number and still gives me a good spread of topics in the chapter. I also review the notes I have written daily so they stay fresh in my mind, otherwise I forget all the earlier material. Good Luck!!

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

[Qlad]

another question about organizational costs….

A's book income before income taxes for 2012 was $260,000. Corp. began business in March 2012 and org. costs were $130500 which were expensed and incurred for the financial stmnt purposes. for tax purposes, these costs are written off over the minimum allowable period. A's taxable income for 2012 was…

A. 390,500

B. 260,000

C. 368,750

D. 383,250

the answer is D….why did they not take 5000 deduction?

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

[Qlad]

another question about organizational costs….

A's book income before income taxes for 2012 was $260,000. Corp. began business in March 2012 and org. costs were $130500 which were expensed and incurred for the financial stmnt purposes. for tax purposes, these costs are written off over the minimum allowable period. A's taxable income for 2012 was…

A. 390,500

B. 260,000

C. 368,750

D. 383,250

the answer is D….why did they not take 5000 deduction?

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

[Skrier]

@Qlad….the $5,000 deduction is available up to $50,000 in startup cost and is reduced for organizational expense exceeding $50,000. So in this case the org. expense is 130,000 which exceeds $50,000 by $80,000….what is not clear is the dollar rate…(dollar for dollar reduction exceeding $50,000. Perhaps someone else may be able to clarify the reduction amount.

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

[Author]

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