[jeff]

Free Study Planner, Notes, Audio, Flashcards: https://www.another71.com/cpa-exam-study-plan/

Free CPA Exam Survival Guide: https://www.another71.com/cpa-exam-survival-guide/

Post by Another71.

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

[pnielsen1982]

@Mika – the only explanation CPA Excel provides is: “Unreimbursed costs (including $0.14/mile; not indexed for inflation) can be deducted.”

Per the IRS website, the cost of meals incurred while doing volunteer work are deductible as long as the volunteer was required to stay overnight. In the problem, the volunteer is out of town and it appears that is the distinction that makes it deductible.

CA licensed CPA

AUD - 08/31/13 - 84
BEC - 11/26/13 - 84
FAR - 08/10/14 - 85
REG - 11/30/14 - 72, 02/20/15 - 87

What have I gotten myself into?

[Gabe]

yeah I missed that one too…thanks for the info pnielsen!

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

[Tre]

I'm having difficulty with the dividends received deduction creating a NOL. If a corporation has $100 in dividends (under 20% owned) and a taxable income of $10, shouldn't the DRD be limited to $7 rather than create a NOL of $60. Looking at the CPAexcel material right now and they say in one example it is limited by taxable income and in the next allow it to create a NOL.

BEC - 84
REG - 88
FAR - 75
AUD - 71, Nov 2015

[Anonymous]

Hello fellow Ninjas,

Quick Question, I have my exam scheduled for January 3rd as of today, I am trying to wrap up Regulation 7 on Becker. For anyone familiar with the becker material, do you think it is okay to totally skip R8 or maybe skim through it and do about 40 MCQs from the chapter? I know I have skipped the last chapters for FAR and BEC and it has worked out, but I am a little cautious about the R8 material. Please let me know what you think!

[The_AmYam]

terryharm – Sorry I meant R3-31. So page 31 of Ch. 3.

Gabe I was halfway done w/ the exam (Reg & Audit) and lost credit soooooooo here I go again. Ugh. Kicking myself for that.

c2p2a – No, I wouln't skip Ch 8. For sure know the types of business but I'd be familiar w the other stuff also. If you only hit 2 subsections make it business structures & agency. at least know what the others are about.

REG - 81
FAR - 79
AUD - 94
BEC - OCT 15

[Gabe]

@the_amyam hey it happens. You GOT this! When do you sit in January? I've gotten through all Becker MCQs now trying to finish NINJA BLaw MCQS (seriously 744 questions…)

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

[NJPRU]

🙂

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

IM GOING TO BE A CPA!!!!!

[lauren725]

Gabe you are like lightening. How are the NINJA mcq? I am going to add audio soon to have for my commute.

NJ are you just loving tax? 🙂 hope things are going well.

just went through the property tax lecture. Reviewing some of R3 that I have already forgotten. ay yi yi

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!

[The_AmYam]

sitting on 1/17 – giving myself 3 weeks of serious review time so I'd better pass!!!

you can get thru the MCQ – just get up an hour earlier and do some in the a.m. and some on your lunch break. Even 30-45 mins here or there helps!

REG - 81
FAR - 79
AUD - 94
BEC - OCT 15

[terryharm]

agree I wouldn't skip chap 8 either.. I am sitting Sunday (re-take) and starting to panic. Getting very confused on the 179 rules, and having some trouble with the IRA deductions anyone have any suggestions or quick summaries.. I am currently doing all of the GLEMS simulations today to drill into those little details. Then plan on doing MCQ's till my eyes fall out and fingers fall off. Happy New Year..

BEC: 81
FAR: 75
AUD: 81
REG: 85

PA license Pending..

[Gabe]

@lauren thanks! I like the Ninja MCQs…I think I like the set up more than Becker. The user interface feels like a video game…GOTTA GET TO 85%! lol I feel like Becker packed A TON into R2 and R3.

@the_amyam I am in the same boat! Going to sit on 1/20. Plan on getting through the rest of BLAW Ninja MCQs this week then do serious review for 2.5 weeks.

@terry you GOT this! What are you confused about for 179 rules? Also, found these handy threads that listed tips for remembering things:

https://www.another71.com/cpa-exam-forum/topic/reg-basis-summaries-to-help-with-studying

https://www.another71.com/cpa-exam-forum/topic/reg-1040-mnemonics

https://www.another71.com/cpa-exam-forum/topic/post-your-favorite-reg-mnemonic-lets-see-who-is-the-most-creative

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

[NJPRU]

Lauren – doing well. ahhhh. Just finished the R3 lecture last night. I've made the decision that this stuff isn't “hard” it's just tedious. I'm scoring 80s on most of the sections and i'm able to understand the material, but it's “memorizing” all of it that I think will be the struggle for me.

I hope you are enjoying your holidays! Shout out to Gabe too. 😀

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

IM GOING TO BE A CPA!!!!!

[lauren725]

NJ I am on the same page as you so far. I think the R4 lecture I just finished will be a little tough on homework but I have not felt defeated (yet) like some of the lectures in BEC and FAR. There are definitely a lot of details to remember though. I think I will just have to try to repeat, review as much as I can.

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!

[terryharm]

thanks for the links i will take a look at them…. the Gleim simulations are helping to highlight some of those tedious from left field questions. Like Arbitrage municipal bond interest (excluded or included in interest income) its included don't let the municipal bond wording fool you.. or the Dividend Received Deduction not on real estate investment, mutual funds, or regulated investment companies only on Corps..

BEC: 81
FAR: 75
AUD: 81
REG: 85

PA license Pending..

[Anonymous]

Down to my last week of preparation. What do you guys find is the most effective way to review? MCQs? Sims? Rewriting notes? Reading the book? I've failed REG twice already, so I'm at a loss.

[Author]

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