Kui82, not very much, i passed Reg in 2015 using 2014 material. just know the common deduction amounts like below:
2015
Above the AGI adjustment amts:
-Tuition & Fee deduction ($4,000). Beyond $4,000 goes to itemized deduction subject to 2% AGI test
-Health Savings Account ($3,350/$6,650 in 2015)
-Educator Expense ($250)
-Moving expenses (50 miles, 75% of next year)
-IRA ($5,500/$11,000)
-Student loan interest expenses (max $2,500). Any excess is considered “personal interest” and not deductible.
-Attorney fees paid in certain discrimination and whistle-blower cases
-Domestic production activities deduction
-Alimony paid
-Interest withdrawal penalty (forfeited interest like on savings or CD)
-One-Half Self-employment FICA (Not deducted on schedule C)
-Self-Employed Health Insurance (Not deducted on schedule C)
-Self-Employed Retirement /Keogh (profit sharing) (Not deducted on schedule C)
Deduction amts as in below the line amts (sorry don't have that many in my notes):
-Charitable contribution (50% of AGI max allowed): Cash @ 50% of AGI & FMV Property @ 30% of AGI
-Beyond 10% of AGI for medical
2016 amts go into effect with Q3 testing.
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).
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