[jeff]

Welcome to the Q2 2016 CPA Exam Study Group for REG.

Some BLITZ videos to help your exams: https://www.another71.com/ninja-blitz

[Anonymous]

Yes, you are right. add them back.
Just think of RTI and AMT as two different tax authorities. Under RTI, the State Income Taxes you paid will be part of your itemized deductions from your income. However, because you make so much money, AMT will have to rule that out and direct you to add it back to you income. In effect, you will have to pay higher taxes under AMT.

[If I can, u can too!]

thanks kui82, you will finish all sections too. don't give up, keep persevering, stay focused. you can AND you will do it!

also study IRCs for SIM, they will throw in a question or two where you must research; so be familiar enuff w the IRCs so you can look things up. i'd say IRC's ninja lists in the SIM part is the bare minimum you need to be familiar with. GL!

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).

[Char143]

Can someone please help me understand the difference between a “secured party” and a “perfected secured party”?.. Thanks in advance!

AUD (2/16)-84
REG (05/16)-69 Retake (7/16)-79 (ty ninja MCQ)
BEC-TBD
FAR-9/8/16

[mtaylo24]

Perfected secured parties have priority over other third parties/creditors/secured parties

AUD - 1st - 60 (12/12), 61 (2/13), 61 (8/13), 78! (11/15)
REG - 55 (2/16) 69 (5/16) Retake(8/16)
BEC - 71(5/16) Retake (9/16)
FAR - (8/16)

[Tncincy]

I am tightening up my study and have been listening to the ninja audio, I just realized that I have been listening to individual – 2015 and the rest is 2014. I can't find my original download, so is there a 2015/2016 update? or is the material the same.

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

[melody_pinaycpa]

Below question seems simple but I still can't figure out why the answer is B

Chris, age 5, has $3,000 of interest income and no earned income this year. Assume that the current appli­cable standard deduction is $1,000. How much of Chris’s income will be taxed at Chris’s parents’ maximum tax rate?

Select an answer:
A.
$0

B.
$1,000

C.
$2,000

D.
$3,000

FAR (Apr 2015) - 88
AUD (July 2015) - 86
BEC (Oct 2015) - 82
REG - 73, 70, retake Sept 2016

[Tncincy]

from what test bank did you get this question….seems like someone asked this one before.

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

[mtaylo24]

The basic standard deduction amount of a student under age 24 who is claimed as a dependent on another individual’s income tax return is limited to the greater of either The standard deduction or the dependent’s earned income for the year. Earned income does not include either interest, dividends or capital gains from the sale of stock.

Question states the 5 yr old had no earned income, just interest income so you should take the standard deduction.

AUD - 1st - 60 (12/12), 61 (2/13), 61 (8/13), 78! (11/15)
REG - 55 (2/16) 69 (5/16) Retake(8/16)
BEC - 71(5/16) Retake (9/16)
FAR - (8/16)

[Future Ninja]

probably easy to many of you guys: check this out:

The Secretary of the Treasury can censure, suspend, or disbar a practitioner from practice before the Internal Revenue Service for incompetence and/or disreputable conduct. Which one of the following is considered disreputable conduct?
A. Being indicted for any criminal offense under the revenue laws of the United States.
B. Having your motor vehicle license suspended as a result of numerous traffic violations.
C. Being indicted of any felony under federal or state law for which the conduct involved renders the practitioner unfit to practice before the Internal Revenue Service.
D. Giving false or misleading information, or participating in any way in the giving of false or misleading information to the Department of the Treasury or any officer or employee thereof.

answer: D

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

[Anonymous]

@ Future Ninja
from where did you find this question ?

[Future Ninja]

The Securities and Exchange Commission requires certain information to be included in management’s discussion and analysis (MD&A) in the 10-K annual report. Discussion of all of the following is required except
A. The results of operations.
B. The effects of inflation and changing prices.
C. Forward-looking information and forecasts.
D. Significant events or uncertainties.

answer: C what is this forward looking information?

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

[Future Ninja]

@Ano – currently Im using Gleim. I purchased it recently on top of Ninja Products. Hope it will help me hurdle the 75 range. How's your REG so far? Or am i the only one left from Q1 group? ^_^

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

[Future Ninja]

I laugh at this: what kind of books are they talking about? story animated books? silly me..

Given evidence of a violation of the federal securities laws, the SEC lacks the power to
A. Subpoena witnesses.
B. Compel the production of books and records anywhere in the United States.
C. Determine responsibility for a violation in an administrative hearing and impose certain sanctions.
D. Prosecute criminal cases.

answer: D

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

[Anonymous]

@ Future Ninja
I have Yaeger who basically follow Wiley book and also have Ninja notes , flash card , my MCQ's got expired plan to renew once I am done with all the modules. right now I am at last tax module (gift estate and trust ) .
Once I am done with all taxation I will start business law while keep doing taxation questions .
I am having trouble with Individual taxation so need to put some time on it.
I took the Reg on Jan with 45 days preparation (my NTS was expiring so had to take it ) I got 64 , my sim was horrible and I still don't know how to answer those questions.

[If I can, u can too!]

Futureninja, forward looking statements (next year n beyond expected results) are often covered in a separate section. Pick up a 10q or 10k n glance over table of contents.

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).

[Author]

Replies