[jeff]

Free Study Planner, Notes, Audio, Flashcards: https://www.another71.com/cpa-exam-study-plan/

Free CPA Exam Survival Guide: https://www.another71.com/cpa-exam-survival-guide/

Jeff Elliott, CPA (KS) | Another71 | NINJA CPA | NINJA CMA | NINJA CPE

[WANNABE_CPA]

@mamabear..i was wondering where cpamommyof3 went, hasn't posted since last Reg…didnt know that's you 🙂

Welcome back as cpamommyof3 🙂

FAR : 68, 74, 83 Thank you God 🙂
BEC : 78 (8/27) 🙂
REG : 72 ,80 (2/25) 🙂
AUD : 69,67, 07/23

[Anonymous]

Thanks! Many don't realize I am the same person. NJPRU nicknamed me Mamabear in the Q2 FAR thread and it just stuck so I took it as my new user name when I was forced to change.

[Anonymous]

Speaking of names, I was looking through your posts from last night and Friday night (awesome quizzing, btw) and found it funny that you thought I was a male 😉

[Anonymous]

Sorry! Aside from Zubairs and Wannabe, all of your names are new to me because I took some time off the thread in between my July REG fail and starting to study again in September. I just assumed Bucky = male. 🙂 I should have known better when you said my daughter was cute or adorable (can't remember the phrase, but I remember thinking that was odd for a man to say). Stereotyping over here, apparently.

[Anonymous]

@CPAMommy I'm just curious why would you not be allowed to post as Mamabear?

[Anonymous]

How much of everyone's studying are you focusing on Bus Law/Ethics? I'm taking some practice quizzes now to see what I should focus additional study time on and those are sticking out right now.

[Anonymous]

That is an excellent question! I asked after I got locked out in Q2 FAR and there wasn't an answer. Jeff didn't know what happened, but it wasn't just me. There were several others that had to change their name too. It may have been from the volume I posted or posting too many links. I don't know. It was crazy though that everyone could see my “Hiya”s, but not my posts. They thought I was purposely not disclosing whether I passed or not. We were a tight group and they were all waiting for mine and teetee's posts before they called it a day. I felt really bad that everyone waited so long for me.

[Anonymous]

For my first take I did Blaw first and spent too much time on it. This time I have been focusing on tax and will just do MCQ and flashcards for Blaw, but no book reading. Considering there are no Blaw SIMS then I think the time is better focused on tax. I wouldn't exclude it altogether, but I'm not going to go over the MCQ 5 times like before. One round through the MCQ for Blaw and focus on the Ninja notes about blaw, if you have them.

[Anonymous]

@CPAMommy – thanks for the advice! And, that sucks about your name 🙁

[Anonymous]

Interesting. Could be some filtering system setup on the website?

I've been reading thru posts from different people, anything about REG (one of my strategy by the way in my past 2 sections) to see if I can get tips/info about the exam and I agree with cpamommy, most people say no SIMs for Blaw, however the exam was not consistent on the percentage given in MCQ in Blaw. I'm doing 100%MCQ available in Gleim and so far CPA ethics has the highest number of MCQs so I would assume this is heavily tested?

[Anonymous]

If you find anything interesting in other posts about REG let us know! Oh–I got a response back on the $50K last night. She was referring to the $50K for worthless 1244 stock. Up to $50K can be offset against ordinary income

[Anonymous]

I agree that blaw is tested heavily in the MCQ. It's supposed to be 40% of the test, right? Definitely don't skip it.

[Anonymous]

Here's one:

To qualify for the Child Care Credit on a joint return, at least one spouse must

Have an Adjusted Gross Income of $15,000 or Less

Be Gainfully Employed when Related Expenses Are Incurred

A. No no

B. Yes Yes

C. Yes No

D. No Yes

[Anonymous]

2 Which items are subject to the phaseout of the amount of certain itemized deductions that may be claimed by high-income individuals?

A. Charitable contributions.

B. Medical costs.

C. Nonbusiness casualty losses.

D.Investment interest deductions.

This one is not tricky, but something that's good to know, just in case.

[Anonymous]

This one is ridiculous. You have to know the tiniest detail of the rule. This is one of the questions that I would pretend I did not see.

3. Carmella is divorced and has two children, ages 3 and 9. For 2013, her adjusted gross income is $30,000, all of which is earned income. Carmella’s younger child stays at her employer’s on-site child-care center while she works. The benefits from this child-care center qualify to be excluded from her income. Carmella’s employer reports the value of this service as $3,000 for the year. This amount is shown in box 10 of Carmella’s Form W-2, but is not included in taxable wages in box 1. A neighbor cares for Carmella’s older child after school, on holidays, and during the summer. Carmella pays her neighbor $2,400 for this care. What is Carmella’s Child Care Credit for 2013?

A. $720

B. $480

C. $600

D. $648

[Author]

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