[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]

I cant get my mind onto it right now, i might get back to it again..and let you know if i understand it

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

[WANNABE_CPA]

@Bucky C ? But thats not a recognized institution,

D? I think D , but i am confused

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

[Anonymous]

@Wannabe – you are right – it's D, but I don't get how A or C aren't charitable contributions as well.

[CPAfit]

@wannabe since you're using both Becker and Ninja, I just wanted to ask you how similar are the test banks of both. I've seen a lot of people mention on here that Ninja is pretty close to the actual thing and Becker over prepares you. But nobody has ever given a comparison of Ninja vs. Becker.

[WANNABE_CPA]

@zubairs…I feel Ninja has alot of similar questions from becker, which off course might be AICPA released questions in Becker. But ninja does have some briliant questions which can prepare you better alongwith other review courses you have.I keep my main review as Becker and not do full ninja because i just dont get enough time to and i feel i should atleast be done fully with becker homework.

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

[WANNABE_CPA]

@bucky….Not A : because it is the value of services they have mentioned, we never take value of services rendered as charity but if there was any additional costs related to those services like transport expenses etc, that will be taken.

Not B : because the donation made is less than value she is getting..If the value she was getting was $50 worth coupon book , tehn the difference she donated more could have been charity..

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

[WANNABE_CPA]

@bucky…i am sorry i am loosing it..i thought you said you dont understand B , so it is not C because it is youth group they are refering to and not a recognized institution to make charity to ..i suppose what i am thinking is right, do you have the explanation for it

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

[Anonymous]

Here's the answer – Zachary may deduct 80% of his donation. The benefit received rule requires that when a taxpayer makes a contribution to a qualified charity, the deductible charitable contribution is reduced by the value of whatever is received by the taxpayer. An exception to this rule applies to contributions made to a college or university when the donor receives the right to purchase tickets to an athletic event. Eighty percent of the payment is treated as a charitable contribution regardless of whether the tickets would have been otherwise available. The value of donated services or foregone income are not tax deductible but unreimbursed expenses related to these activities may be deductible. Nancy received more in value than she paid out so she has not given up anything.

[CPAfit]

@wanna well I've used only Becker for all my exams. Hopefully it will be enough for REG as well. Thanks for your feedback

[WANNABE_CPA]

@zubairs…as long as you understand the concepts…i think becker is pretty good review course as for mcqs are concerned, i dont know about overpreparing, but if it does thats a good thing too 🙂

I used only Becker for FAR, so i sure go with using just becker..I was just curious as to try using Ninja so i bought it and like it as well.

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

[Anonymous]

For individuals, is the medical expense rate 7.5% or 10%?

[Anonymous]

@CPAHopeful, 10% over AGI for individuals under 65, 7.5% over AGI over 65

[Anonymous]

@ Wanna_Be CPA: In regards to the question about Destry—What about the short term cap loss. Why wouldn't that be carried forward?

[Hussainsajwani]

Just started studying for REG through CPAexcel and notice that the first topic refers to a lot of section #s and their rules. I understand that I would need to understand and memorize the rules under Circular 230 but do I need to have their corresponding section #s memorized too? for e.g. 10.21 10.22 10.23 etc …?

[Anonymous]

I knew that one without my notes!!!

[Author]

Replies