[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/

[Anonymous]

@Evwy_Mom,

thanks SO much for your explanation!!

[Hustle Darling!]

@mandrade7 – This suggestion from Iggy1985 helped me get focused and keep moving forward. Do small sets of MCQ until you get to 70 or 75% in each area and then set another goal to get 80%.

https://smg.photobucket.com/user/Vixia/media/spreadsheet_zps5f871507.png.html

Also, I agree with @Mary 2496 and @aspiringcpa2014. You have to keep moving forward and you will never be 100%, but you need to trust the process.

Roger CPA Review
FAR - 5/31/16

[FabCPA]

Thanks for all your advice. I just have to relax and just go over the material first and then worry about what I'm missing. Thanks!

[Anonymous]

When I took a tax course a couple of years back, I remember capital gains had a high tax rate, and dividend income had only a 20%.

Just listened to a becker lecture, and he said the rates are now the same.

Can someone explain the importance in recognizing capital g/l vs ordinary g/l?

[Anonymous]

When I took a tax course a couple of years back, I remember capital gains had a high tax rate, and dividend income had only a 20%.

Just listened to a becker lecture, and he said the rates are now the same.

Can someone explain the importance in recognizing capital g/l vs ordinary g/l?

[Evwy_Mom]

@cpastudent22 – You are welcome!

AUD = 85
FAR = 79
BEC = 79
REG = 65, 72, 75!

I AM DONE!!

[Anonymous]

I think one big thing about capital gains and losses is that capital LOSSES can't be deducted without capital gains (individuals do get an annual 3,000 allowance though, NOT CORPORATIONS).

So take corporations. Corporations don't get a special capital gains tax rate, so you would think that capital gains and losses are irrelevant.

But a corporation could say, buy the stock of a company (maybe attempting to acquire it), but was forced to incur a capital loss of a $500 MM (maybe that potential acquisition target went bankrupt or something).

So with corporations you have the 3 year back, 5 year forward rule.

If the corporation doesn't manage to find $500 million in capital gains in the next 5 years, it will LOSE a deduction of HALF A BILLION DOLLARS.

That's HUGE.

So you don't really want to have capital losses for the most part.

[Anonymous]

So my exam is on Friday…I've been studying for a month…I listened to all the Becker lectures then realized I was running out of time and stopped doing mcq at R3…switched to ninja to get questions from all topics. I do new questions only… here are the stats

Total Q attempted: 1,192

Average Trending: 67%

Average score: 61%

Took the Becker exams here are the results

Testlet 1 exam 1: 67%

Testlet 2 exam 1: 54%

don't remember testlet 3

Testlet 1 exam 2: 62%

testlet 2 exam 2: 71%

At this point I don't even know what to study I usually take the day before my exam off to give myself a mental break. But I'm already burnt out and I feel like it's a waste of my time to take this exam on Friday 🙁

[Mary 2496]

Can I give you a word of advice?

Take a Becker progress test in R8. Include all sections, R1 – R8. Maybe make it 60 – 80 questions. Take the progress test and look at your results. What sections are your scores the lowest in? I would pick out the sections you're scoring low in and then do a progress test with only those sections and focus some time on those specific sections, IMO.

[Anonymous]

@Akvod

Thanks! 🙂

[Anonymous]

How do you guys remember all the contracts and defenses portion on the section? Is it just by practice, or are there any tricks that could help?

[Mary 2496]

I've just been trying to memorize them and go over them again and again.

[Anonymous]

Gotcha, so just by repitition? I'm seriously SO lost right now doing the HW questions for the sales section AFTER just reading it 15 minutes ago. I've just completely skipped the tax section for now and am just focusing on the law portion. I keep reading people say the law portion is easy, but I just can't believe that at this particular moment Ha.

[Anonymous]

Ace Rentals Inc., an accrual-basis taxpayer, reported rent receivable of $35,000 and $25,000 in its 19X2 and 19X1 balance sheets, respectively. During 19X2, Ace received $50,000 in rent payments and $5,000 in nonrefundable rent deposits. In Ace's 19X2 corporate income tax return, what amount should Ace include as rent revenue?

a. $50,000

b. $55,000

c. $60,000

d. $65,000

CPA-02147 Explanation

Choice “d” is correct. Rent revenue under the accrual basis would include the cash received ($50,000) plus the increase in the rent receivable ($10,000 = $35,000 − 25,000), or $60,000. In addition, the $5,000 nonrefundable rent deposit is additional rent revenue, for a total of $65,000.

I thought taxable income is when cash is received, so I got $55,000.

[Anonymous]

Hi Every one Here..

I'm new to the country! i'm accountant and work 9 hours a day and it's the training period i'm not sure the future of this job.

since my entrance i decide to Study for CPA. I've been looking for the appropriate way for a foreign accountant to start studying for CPA!what are the best resources with lowest budget possible!

While i read this forum i found more people here studying CPAexcel, some Becker!

Could you please help me and tell me for a person that is very slow in studying which one is better?

[Author]

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