REG Study Group Q1 2016 - Page 68

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  • #748836
    KJF1031
    Participant

    For anyone using Becker, what is the most recent Becker book say at the top right of your cover. Is it “For exams scheduled after June 30, 2015?”

    BEC: Passed (8/31)
    AUD: Passed (11/20)
    FAR: Passed (2/26)
    REG: 5/22

    #748837
    ahugemistake
    Participant

    Welp, time to get back on the REG house, missed by two points. Going to retake in April/May, we will see.

    FAR - 78*
    AUD - 66, 79
    REG - 73, 76
    BEC - 79

    #748838
    Future Ninja
    Participant

    @Amor D – what do you think are the answers to those? how about this?

    how much is the gain or loss if any for the gift? help pls.

    AB = usd 2,500.00
    FMV= usd 2,000.00
    Sold to TP later on = usd 1,800.00

    a. 0
    b. (200)
    c. (500)
    d. (700)

    AUD - 79 (expired) retaking July 28,2016
    FAR - 76 expiring July 31, 2016
    BEC - 85
    REG - 74,74,74,74,59,70,

    #748839
    Future Ninja
    Participant

    @Amor D – thank you for your kind words.

    AUD - 79 (expired) retaking July 28,2016
    FAR - 76 expiring July 31, 2016
    BEC - 85
    REG - 74,74,74,74,59,70,

    #748840
    Future Ninja
    Participant

    @ahugemistake – i'm very sad to hear that you are short by two points. Don't slack next time. I got 74 before and then 57 from my next score. You gotta review/study like it is your first time. Good luck man. Best of luck. I'm waiting for March 9th. Praying for a miracle. I'll take 75, its all we need.

    AUD - 79 (expired) retaking July 28,2016
    FAR - 76 expiring July 31, 2016
    BEC - 85
    REG - 74,74,74,74,59,70,

    #748841
    Anonymous
    Inactive

    @Future, I think B. ($200) Loss should be the answer.

    How much is the gain or loss if any for the gift? help pls.

    AB = usd 2,500.00
    FMV= usd 2,000.00
    Sold to TP later on = usd 1,800.00

    a. 0
    b. (200)
    c. (500)
    d. (700)

    #748842
    Anonymous
    Inactive

    AB = usd 2,500.00 FMV= usd 2,000.00 Sold to TP later on = usd 1,800.00 –
    My answer was 0 because question says sold to taxpayer.
    My answer is from a taxpayer point of view, who is buying and when you buy something there would be no gain or loss.
    Correct me if I am thinking wrong.

    #748843
    mdil92
    Participant

    is there a list of the the SIMS topics for the Ninja MCQ? There are 75 Sims but i have no idea what the topics are.

    #748844

    i think it's right before you go to the main page in the very bottom of the Helpful links:

    you should do all SIMs for REG, study IRC's or at the least know the structure of IRC's so you can look for it quickly during the exam.

    Licensed CPA since Apr 16
    Order in sequence of passing
    FAR-71,71,79
    BEC-80
    REG-72,77
    AUD-56,72,72,72,80! Thank you, thank you, thank you Lord!
    FAR/BEC/AUD: Becker & Yaeger lectures (Wiley & Ninja MCQs). REG: Becker lectures (Ninja MCQs).

    #748845
    tapilidj
    Participant

    Can someone help me to understand this ( Sim 2 Becker Reg1)

    Richard Norton is required to pay a self-employment tax based on the net profits of the farm business. For purposes of this task (Self-Employment Tax), assume that Richard had a net profit of $105,000 from the farm business for Year 3 and $10,000 of Section 1231 gain. Also assume that the maximum net income for social security tax is $117,000 for Year 3. Assume the following rates: 12.4% for social security and 2.9% for Medicare.

    Calculate: Net earnings for self employment . The answer is 96,968.
    It says is 92.35% is consider net earnings for self employment.

    Where can I find that percentage % that they apply?

    Thank you for your help!

    #748846
    Anonymous
    Inactive

    @tapilidj

    12. 4% + 2.9% = 15.3% / 2 = 7.65

    100 – 7.65 = 92.35%

    #748847
    Tncincy
    Participant

    Oh God, I need a mind to study. I know I need to get it together, but I am really struggling. I shouldn't be, I know how urgent it is to get going, but it is easy to do nothing than to get book out and get going, it's easy to make sure everyone else's situations are solved, or put out any other fire that come up rather than focus and study. I say I want to be a CPA, and I do want to be such, but why is it so easy to get distracted for long lengths of time. To the extent that I feel like I am constantly starting over. It's like my diet…..as soon as I fall off and eat a cookie ( or two,or three) I feel like I need to start from the beginning instead of where I left off……Surely, I didn't gain that much weight from one cookie ( or two, or three). But I can't shake the spirit of procrastination. I know I'm not that far behind in study, but I need to be ready early April (Reg) and late May(Far) . I have my new nts, which took three weeks to get, but it helped me procrastinate even more. Yes, it's tax season, and oh Lord, my son broke his jaw, but I can't seem to get going. It's not like I haven't studied at all, but I know it's not nearly enough to pass.

    Thank you for listening….I am logging in now to start my MCQ's. No more procrastinating.

    It begins with a 75
    Been here too long as a cheerleader....ready to pass

    #748848
    Blue.auditor
    Participant

    Hi guys,

    I am currently studying with Becker 2014 edition.

    Considering the annual change in amounts, is it still ok to continue with the 2014 edition?

    Note: After I finish all Becker MCQs, I will start Ninja MCQs.

    FAR 90 - 11/16/2015
    BEC 81 - 2/14/2016
    REG 87 - 5/23/2016
    AUD - 8/8/2016

    #748849
    EuroAddict
    Participant

    @TCINCY

    It surely is easier to make an excuse than to pick up the book to study. But once you start passing it gets easier to keep going. I didn't do this but why not try scheduling your tests when you get your NTS? That will give you a specific deadline you have to meet or lose money.

    -----------------------------
    BEC - 77, 03/2015 (first try)
    FAR - 79, 05/2015 (second try)
    REG - 83, 12/2015 (first try)
    AUD - 84, 03/2015 (first try)

    I got 99 problems but the CPA ain't one.

    #748850
    lonestar
    Participant

    I feel like I'm drowning in the REG. I have passed FAR, waiting for AUD taken in Feb. Thought the rest would be easy but REG threw me into an abyss! Need empowerment! I don't have accounting background and did everything on my own so far. Thought how challenging REG could it be since I report tax by myself every year? But it is still hard, so many things I'm not sure if I should remember and I could remember them all… How could I better prepare for REG?

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