[jeff]

Welcome to the REG CPA Exam study group for July & August 2018 exams. 🙂

Please introduce yourself & when you’re taking your exam (approximate timeframe).

REG Study Group Links and Resources:

1. NINJA Monthly – Full REG Course for $67/mo
2. How to Study for REG with NINJA Only
3. How to Pass REG in 20 Days
4. How to Retake REG After Failing
5. Video: Study Advice for REG
6. CPA Reviewed Podcast
7. CPA Exam Score Release Dates
8. NINJA MCQ Trending vs Actual REG Scores
9. I Passed the CPA Exam!
10. I Passed REG!
11. NINJA REG SIMS List by Topic
12. Free Downloads: NINJA REG

[AbrilCPA]

Is there anyone studying Becker review for REG? How many % should we make in Progress Test in order to get at least 75 in real test? I am practicing the Progress Test over and over and a bit frustrated when I keep getting 80% and cannot improve anymore. Thanks.

[murano]

@chandler
thank you for the detailed explanation!

[Anonymous]

Hi everyone,

When are you taking your exam? I'll be taking REG on July 23rd.
What exam topic keeps you awake at night? Property tax for sure.
One study or career tip. This is both a career and a study tip – I always say that all you need to be successful is to reallyyyy want it – stay focus and determined and you will achieve your goals.

[Anonymous]

Sure no problem @murano. And @AbrilCPA, I studied using only Becker for REG. I was trending between 88%-92% on progress tests before I sat. Typically I think most people do a little better on the real exam than Becker, so I wouldn't worry too much. I would look for patterns though, see if there are certain sections you are missing more often than others. I found that I needed at least 50-100 questions to determine patterns. If you are scoring less than 70% on any section, I would go back and look closer at it for sure.

[Chris]

Sitting for REG at the end of July but haven’t picked a date yet. Waiting on my results from FAR and AUD in a couple weeks. For some reason partnership basis stuff confuses me at times, even though it think it should be very simple. My biggest tip is just keep trucking through multiple choice questions. You learn either way…whether you get it right or wrong.

[jeff]

REG Winners
kahloon
Austin H
msquared17
Abi
mariko

Please email support@ninjacpareview.com to request your access. HIYA!

[Anonymous]

Hi I am new here. I am using Wiley and plan to sit for REG on July 23rd. I have been down this road years ago and used Becker multiple times to sit for BEC. I have decided to go at it again by giving it all I got! I am tired of “wishing” I was a CPA now it is time for me to become one!

[Sal]

I'm confused about paying the alternative minimum Tax as it gets added back in to the tax formula. If AMT is higher than taxable income you have to pay AMT ? but than why is AMT added back ? is AMT a fixed amount that is due or its a limit ? is this why we have to include it back in the tax formula? Just confused…..

if AMT was 70 k and taxable income was 40k
do you pay the 70k? or you include AMT in tax formula adding 30 K to the 40K due ?

Gross Income
+/- Adjustments
AGI
(Standard – Deductions)
(Itemized – Deductions) (Schedule A )
Net Exemptions
X Rate
Tax liability
(Credit) ( Dollar for dollar reduction)
+ Self employment Tax
+ AMT (alternative minimum Tax) ****
(Prepayments)
(Withholdings)
Tax Due

[AR]

Hi everyone,

Ninja REG category 6D2, question 1155: Should the interest expense be included in calculating ordinary income of a S corporation? The Wiley textbook states with respect to interest: tax-exempt interest, interest income, investment interest expense are all passed on separately. Why this discrepancy?

Thanks in advance.

[Brian Riley]

Medical Expense Threshold for 2017.

I know the AICPA will not be testing the tax laws changes of the Tax Reform and Jobs Act of 2017 until 2019. So is it safe to say that the AGI threshold for medical expenses will be 10% for everyone? Part of the Tax Reform and Jobs Act went back to tax year 2017 and made it possible for seniors to continue to use the 7.5% threshold for 2017.

[Brian Riley]

AR,

I would imagine that if its INVESTMENT interest expense, we would see that on Schedule K of the 1120S and it would flow to the members of the S-Corp.

If it was just a normal interest expense (like interest on a business loan), then it would be deducted on the front page of 1120S to arrive at ordinary income of the S-Corp.

[Brian Riley]

Ninja Notes possible correction:

On page 54 of the Ninja Notes under the Gift Tax – Donee (Recipient), Loss on Sale of Property, the text states:

“Basis is the same as Donor, or FMV at time of sale, whichever is lesser”

Correct me if I am wrong but I think it should read “FMV at date of gift”

[glopooka]

Is anyone else just burnt out and not motivated to study REG? I took the other three last quarter, anxiously waiting on scores for them. Started studying REG last week, but only made it to the second module and it is painful. I am simply out of juice I think. Need motivation.

[mlccsb]

@ Christina,

From my understanding the new tax law will not be tested until January 2019.

[msquared17]

@glopooka -I wish I had some encouraging words for you, but I'm in the same boat. I was supposed to start (again) over the weekend. Trying to get motivated to start tonight. There is still time for me to do M1 :). The only way to finish is to start 🙂

[Author]

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