[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

[Anonymous]

Okay, okay….okay.

I finally understood the call of that AMT question just NOW.

Thanks again!

[Anonymous]

@Amor – no worries…I agree that the wording can throw anyone off…and AMT just plain sucks!

[Anonymous]

Yes, right. I remember my old elementary accounting days for work-back, add-back method with AR, beginning/ending inventory, prior/current FS, book/bank statements , etc. It drives me crazy like they are teaching students how to walk backward without out the flower vase out. LOL!

[Anonymous]

How can I unhiya my own Hiya? LOL

[s2sylvir]

@Cracked

I don't know S Corp/Partnership off the top of my head, but for C Corp it is always FMV whether liquidating or non-liquidating

BEC - PASS (79)
AUD - PASS (63, 71, 74, 74, 83)
REG - PASS (88)
FAR - PASS (58, 89)

Becker for all + FAR 10 Point Combo

[Anonymous]

The alternative minimum tax (AMT) is a quasi-flat tax designed to ensure that all corporations with economic income pay some tax. The tax rate and exemption amount for corporations is:

Incorrect A.

25% and $40,000.

B.

20% and $40,000.

C.

20% and $80,000.

D.

31% and $80,000.

Isn't it A??? The answer is B

[NotTooLate]

@ashleyNY, I remembered the AMT rate for corporation is 20%.

@s2sylvir: I have same expression.

AUD:5/30/2013 (74, so close!) 5/2014 (90 first pass!)
REG: 2/27/2015 (85)
FAR: 8/2011(64) 4/2012(74) 8/31/2015 (80 finally!)
BEC: 11/24/2015 Let's do this!

[lauren725]

The AMT tax rate for corps is a flat rate of 20%.

I think you may be confusing this with the formula for the amount to be reduced from the exemption (less 25% over $150,000).

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!

[s2sylvir]

^ Something I noticed, for C Corps,

AMTI is 20%, Excess Holding is 20%, so is Passive Holding Companies, right?

Easier to remember like this…

BEC - PASS (79)
AUD - PASS (63, 71, 74, 74, 83)
REG - PASS (88)
FAR - PASS (58, 89)

Becker for all + FAR 10 Point Combo

[lauren725]

yep, all three potential “additional” corp taxes all have 20% rate.

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!

[Anonymous]

Oh truee!! I was thinking of that 40,000 and 25% exemption formula. Tricky tricky.

[Anonymous]

So for individual AMT, the tax rate is 26% and for corporation AMT, tax rate is 20%, right?

[icandoit]

Hi everyone,

Did anyone have two research questions for REG simulation?

I had two Research questions. Is it usual to have two research questions? or does this mean I did bad job on mcqs part of the exam?

FAR: 74, 80
BEC: 70, 68, 2/28/15
REG: 75 Expired; 72
AUD: TBD

"And all things, whatsoever you shall ask in prayer, believing, you shall receive". Matthew 21:22

[Anonymous]

Where can I get in depth reviews for AMT for individuals and Corporations.

Becker review speeds throught them when he really should be taking his time

[s2sylvir]

@icandoit

Lots of speculations on what 2 research questions means. In my opinion it's all just random.

But for sure it has nothing to do with your MCQs.

BEC - PASS (79)
AUD - PASS (63, 71, 74, 74, 83)
REG - PASS (88)
FAR - PASS (58, 89)

Becker for all + FAR 10 Point Combo

[Author]

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