[jeff]

Welcome to the Q1 2017 CPA Exam Study Group for REG. 🙂

[aatoural]

yeah Becker does not seem to be very explanatory on that sense.

BTW I just purchased GLEIM test bank and SIMS. I am a bit overwhelm on how it works. Any pointers?

BEC - PASSED
AUD - 8/29/16
FAR - TBS
REG - TBS

[aatoural]

For head of household filing status, which of the following costs are considered in determining whether the taxpayer has contributed more than one-half the cost of maintaining the household?

Value of Services

Food Consumed
Rendered in the

in the Home
Home by the Taxpayer

A.
No
No
B.
Yes
Yes
C.
Yes
No
D.
No
Yes

This Gleim question is very ODD. Correct is C btw.

BEC - PASSED
AUD - 8/29/16
FAR - TBS
REG - TBS

[HoosierCPA]

@aa I still have not looked at Gleim mcq's. I've heard multiple people say it goes into such small details (phaseouts and limitations) that it almost hurts you because you spend so much time trying to study areas that will never be tested.

The sims are nice though. There are 20 units that each have 6 sims in them. Each unit focuses on a certain topic. I would recommend focusing most your time on units 3-15 and then maybe skim or quickly do the other sims (if you are pressed for time). Overall, they have the “feel” of the actual exam which is why I like them.

FAR - 78
REG - 72,74,71...please just go away REG nobody likes you!
BEC - 82
AUD - Aug 16

[HoosierCPA]

@aa I'm not even sure I fully understand what the choices are trying to say.

FAR - 78
REG - 72,74,71...please just go away REG nobody likes you!
BEC - 82
AUD - Aug 16

[aatoural]

Thank you dtat. Yes I am start focussing on the SIMS and do the mcqs on my weak areas first and if I get time left Ill do the rest. Just to reinforce becuase Becker feels like I memorized many of them already.

The question basically asks what is considered for “head of household” filling status. Choose between food consumed in the home and/or value of services rendered at home by taxpayer. ROFL

BEC - PASSED
AUD - 8/29/16
FAR - TBS
REG - TBS

[HoosierCPA]

Oh man, you mean you are telling me I can't tell the IRS I worked super hard taking care of my dependent and I value those services at a mere 100k ;)?

FAR - 78
REG - 72,74,71...please just go away REG nobody likes you!
BEC - 82
AUD - Aug 16

[aatoural]

ROFL – see what I mean by ODD.

BEC - PASSED
AUD - 8/29/16
FAR - TBS
REG - TBS

[HoosierCPA]

So my grandpa who is a lifelong real estate junkie is slowing down a bit. He's 93 lol. Anyway he was over my house yesterday and he's always scheming tax loopholes so I thought it would be a great chance to show off my tax knowledge! He goes into how he wants to start buying art work because he can write it off and claim 0 taxes. Off the top of my head the only studying I could refer back to was the contribution rules where you can write off art work you purchase at a charitable event up to the amount that exceeds FMV. I did a quick google today and sure enough there is a tax rule where you can write off artwork if its for “investment” purposes. It's probably beyond the scope of this exam but where does this deduction take place? Is it an itemized subject to the 2% or is it an above the line deduction?

FAR - 78
REG - 72,74,71...please just go away REG nobody likes you!
BEC - 82
AUD - Aug 16

[RE2PECT]

@aatoural- I would try and focus on sims first instead of the mcq's. The mcq's are crazy hard and might do more harm than good as you get closer to your exam. I averaged 69% after about 1900 mcq's with no repeats and had to switch back to Ninja to boost my confidence lol. So far I'm averaging 85% after getting through individual, corporate, S corp and half the partnership questions.

Gleim may have played a role in making the Ninja questions seem easier, but it's mentally draining going through their problems and explanations. There's way too much detail that isn't really necessary. Some people may prefer that, but my brain can only retain so much information at this point lol.

FAR: 75 Roger & Ninja (notes/flashcards/audio/MCQ)
AUD: 73, 81
BEC: 71, retake 8/29
REG:

[HoosierCPA]

@re2pect sounds like the material is starting to click for you! I'm having a hard time focusing right now because I'm scoring such high %'s. I just finished the 3 big topics in Becker Chapter 4 (Property, Partnership, and Estate Tax) 249 out of 264 — it's actually freaking me out a bit because I know based on my history it's too good to be true.

Lets just pray we will be done with this thing by the end of this quarter!

FAR - 78
REG - 72,74,71...please just go away REG nobody likes you!
BEC - 82
AUD - Aug 16

[RE2PECT]

@dtatham10- I really hope so! All I know is I need this exam to be over or my wife might kick me out this time!

I was having some serous doubts as I was going through Gleim's mcq's, but I'm starting to feel more comfortable after switching back to Ninja. I still have a lot to get through these next couple weeks, but I'm feeling more confident than my first attempt. I hope Gleim's sims are enough to help boost me in that area.

You seem more than ready and there's not much else you can do other than trust that you've done the best you can to prepare yourself.

FAR: 75 Roger & Ninja (notes/flashcards/audio/MCQ)
AUD: 73, 81
BEC: 71, retake 8/29
REG:

[cpaMD86]

Going through all of these posts is what is messing with me right now…!
I am still going through my lectures, and have a hard time remembering some of the stuff I've already seen. Haven't reviewed anything yet, so I guess it should be expected…

I hope it all comes together at the end. At this point, I am feeling a little bit more overwhelmed when compared to the previous sections. Too many small details/rules in the review, plus those that may be missed all together by señor Roger.

*sigh* I am ready to finish.

FAR: 9/3

[aatoural]

@dtatham – It seems that your grandad know more tax than us. ROFL.

@Re2pect – thank you, I am only doing the mcq's from GLEIM as a way to refresh some new material because Becker has me crazy. But starting SIMS right now.

BEC - PASSED
AUD - 8/29/16
FAR - TBS
REG - TBS

[aatoural]

BY THE WAY – Is it just mine because it was the special deal they had until March but my SIMS all say up to 3 attempts.

BEC - PASSED
AUD - 8/29/16
FAR - TBS
REG - TBS

[RE2PECT]

@aatoural- Mine says that too, but if you contact them they'll allow you to do more. I don't think you'll need more than 3 anyway. I'm almost done with my second round and may do one more. I've been doing the sims in the book too, but I don't think the deal you have comes with it.

FAR: 75 Roger & Ninja (notes/flashcards/audio/MCQ)
AUD: 73, 81
BEC: 71, retake 8/29
REG:

[Author]

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