REG Study Group Q1 2015 - Page 127

Viewing 15 replies - 1,891 through 1,905 (of 2,393 total)
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  • #652942
    Gabe
    Participant

    @NJ when I run across it again I will…I'll look for it tonight. I *almost* posted it earlier but then read the explanation and it made sense.

    CPA, CFE
    CISA- Experience will be completed by August 2016

    #652943
    BEACPA
    Participant

    To; Amor, NJ, Gabe, Lauren725 and all of my future CPA friends,

    You may not see many posts from me in the following week because I have 8 full days to review before slaying this beast. It will be difficult to post between work, studies, family obligations, and the daily grind. However, I wanted each of you to know that you will nevertheless be in my thoughts and prayers.

    You have been true CPA exam warriors as you have helped others to tackle difficult questions that at times are down right abstruse. I read something from John Maxwell that stuck and I'd like to share it with each of you.

    Persistence

    “Some people that could be very successful aren’t because they “QUIT”. Consistency & persistence will win the day. The smartest person or the fastest person doesn’t win the day, it’s the person who decides not to let their circumstances determine when they quit or who decides not to let their conditions control their attitude, instead say to yourself that you’re going to control it and say to yourself – I’m not going to stop. Some are very close to success, but if you quit now you might as well be very far from success. Because when you quit, it is no respecter of the time you put in, the money you put in or the energy you put in. When you quit, you quit and you aren’t getting what you wanted.” John Maxwell

    Thank you my Fellow CPA Warriors!

    FAR - 2/28/14 PASS Praise be to God!
    AUD - 7/5/14 PASS Praise be to God!
    BEC - 11/29/14PASS Praise be to God!
    REG - 2/28/14 PASS Praise be to God!

    #652944
    lauren725
    Member

    BEACPA – thanks for your kind words and good luck!!! I know you will do great and will keep you in my prayers as well. I love the persistence quote – very relevant and something we must all keep in mind daily on this journey. Good luck!!

    AUD - 73,91
    FAR - 79 - Thank you God!
    BEC - 73,79!!!!
    REG - 92 whatttt??!

    I used Becker review + flashcards, Ninja Audio, Ninja MCQ supplement on BEC and REG.

    Done! Praise God!

    #652945
    Anonymous
    Inactive

    Holy crap. Bankruptcy law sucks.

    #652946
    WANNABE_CPA
    Member

    If the Internal Revenue Service is forced to seize an individual's weekly paycheck in order to pay past-due taxes owed by the individual, the individual has the legal right to keep an amount of weekly income equal to:

    A.

    the individual's weekly salary times 1/2.

    B.

    the individual's weekly salary times 1/3.

    C.

    the current federal hourly minimum wage amount times 40.

    D.

    the individual's standard deduction and allowable personal exemptions divided by 52.

    FAR : 68, 74, 83 Thank you God 🙂
    BEC : 78 (8/27) 🙂
    REG : 72 ,80 (2/25) 🙂
    AUD : 69,67, 07/23

    #652947
    NJPRU
    Member

    @BEACPA – Thank you very much for your kind words. It's genuine people like you that make me smile! Best of luck with the rest of your studies! We will conquer this exam together!

    @Lauren – AHHHH! So much information is coursing through my blood! Going onto UCC tonight, starting/finishing up Chap 7 tomorrow night and chapter 8 plus a million progress tests on Saturday and finally a practice exam the morning of my lovely REG filled Birthday! Good luck studying this weekend! Let's meet up Monday night and start quizzing each other? For old times sake?? 😉

    @Gabe!! Where's that question?! I've tried googling it and no one has examples. 🙁

    @Angel – this entire exam sucks, LOL!

    @wannabeisawesome – I'm going to guess minimum wage x 40.

    🙂 bye!

    AUD: DONE
    FAR: DONE
    BEC: DONE
    REG: DONE

    IM GOING TO BE A CPA!!!!!

    #652948
    Anonymous
    Inactive

    That's so sweet and kind of you! Thanks Bea!!

    Go go go all CPA conquerors!!!!

    #652949
    lauren725
    Member

    NJ! you got this! You are killing it on getting through the material. I hope to do the 967236 questions on business structures tomorrow after I finish that section. I will probably work in some ninja sims this weekend too and hope to be through all of R8 by Sunday too. Itssss ssoooo lonnnnggg though, ugh! So your birthday is Sunday?! That means only 5 days after you can celebrrraaaaaate!!! Yes I will mark some problem questions and lets get on it next week!

    AUD - 73,91
    FAR - 79 - Thank you God!
    BEC - 73,79!!!!
    REG - 92 whatttt??!

    I used Becker review + flashcards, Ninja Audio, Ninja MCQ supplement on BEC and REG.

    Done! Praise God!

    #652950
    Gabe
    Participant

    @wanna d

    CPA, CFE
    CISA- Experience will be completed by August 2016

    #652951
    NJPRU
    Member

    Gabe, I think you're right. I found this on the interwebs:

    It’s typical for the IRS to garnish 70% or more of an employee’s wages, largely in an effort to convince the employee to contact them to resolve the debt. Other types of garnishments are subject to much smaller garnishment limits (typically around 25% of take-home pay) but the regulations regarding tax debt and IRS garnishments are different.

    see below post for example!

    AUD: DONE
    FAR: DONE
    BEC: DONE
    REG: DONE

    IM GOING TO BE A CPA!!!!!

    #652952
    Anonymous
    Inactive

    @That's a hard and yet very good question.

    @NJ, how did you come up with $182.69?

    +6,250 SD

    +3,950 PE


    10,200 / 52

    = $196

    =======

    #652953
    NJPRU
    Member

    https://www.irs.gov/pub/irs-prior/p1494–2014.pdf

    Here's the 2014 chart. Not sure where the interwebs got that example but it's calculated as

    SD: 6200

    SE: 3950

    = 10,150/52 = 195.19

    AUD: DONE
    FAR: DONE
    BEC: DONE
    REG: DONE

    IM GOING TO BE A CPA!!!!!

    #652954
    Gabe
    Participant

    NJ still looking…I can't remember which category it is in but I'll find it…currently quarantined at home with bronchitis and sinus infection :/

    CPA, CFE
    CISA- Experience will be completed by August 2016

    #652955
    WANNABE_CPA
    Member

    @NJ, sorry i just realized you named me wannabeisawesome and answered the question. Lol thanks .

    Answer is D, but i didnt understand why? I will make use of the link.

    FAR : 68, 74, 83 Thank you God 🙂
    BEC : 78 (8/27) 🙂
    REG : 72 ,80 (2/25) 🙂
    AUD : 69,67, 07/23

    #652956
    Anonymous
    Inactive

    I finished R7 last night and am moving into R8 over the weekend.

    So, knowing that Business Law only makes up a small part of the overall exam, what subjects in Business Law (R5 – R8) do you all feel are the ones to really know inside and out? I know I'll be spending the majority of my time on tax once I get there in the next week or so, but I'd appreciate some guidance in where to spend my time when reviewing the Business Law stuff.

    Thanks!

    P.S. Waiting for Tuesday still sucks…

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