[nalratoss]

I’m going through filing status and exemption and I have no idea how to memorize these stuff.

I have developed a new found admiration for those pursuing law career. It must have been hell studying for the BAR exam.

I’m on Gleim chapter 3 and I have spent like 5 days on this subunit. Of course my busy season isn’t over so I’m not in full-study mode yet.

But each subunit is taking painfully long. At this rate, I am not sure whether I can take the test in June.

[Bourne]

Tax portion was a lot easier than blaw for me. Some of the stuff you'll have to memorize, but some of it just makes sense when you think about it logically. You should definitely be able to take the test in June. Good luck!

[r00shine]

there are tons of little details that the study material goes into that you do not need to remember for the exam. Stuff like: claim a deduction for “ABC expenses” up to 250k reduced by 5% for every 2k over 13,250 of AGI. just remember that you can claim a deduction for ABS expenses.

[Sandy]

Roger CPA has good mnemonic to memorize them.
Maybe you could try youtube and see if they have free video related to this topic.
or sign up for free trial and take a lesson.

[Will]

I took it yesterday. Not allowed to disclose any details of the exam but I should have spent quite a bit more time on section 1231, 1245, 1250… trading like-kind items with boot. I also wish I didn't shrug off depreciation /amortization based on the assumption that my (barely) passing FAR score should carry me through.

Rogers COMMITT and IEMBRACED EHF was very helpful for me. I used multiple times on the exam. Someone above said not to worry about ” Stuff like: claim a deduction for “ABC expenses” up to 250k reduced by 5% for every 2k over 13,250 of AGI. just remember that you can claim a deduction for ABS expenses.” I can't disclose details about my exam but I suggest NOT taking this advice. It ‘might' show up as one of your document review sims.

[aaronmo]

The tax stuff is a lot easier if you've worked in tax. I hadn't when I took the exam…and I had to do a lot more work because of it. All of the schedule this, form ___ that is less intimidating when you've worked on it.

My REG sims were boot, like kind, and all of the different contributions, basis, distributions for the various entities. Know that stuff COLD…and it's more concept than memorization. Plenty of depreciation as I recall, but nothing too challenging.

REG tax is nothing like legal/the bar by the way…the CPA exam is a lot more memorization heavy than the bar…the BAR is more of a reading/writing test and test of the concepts. I think the CPA should be more like the BAR personally, but I hate memorization. You have to be smarter to pass the bar than you do the CPA…but the CPA takes more grunt work IMO.

[dj]

I'm in MA and the first time pass rate for the bar exam is over 80%.

Also I've read unless you go to a top law school your employment opportunities to get a job that actually requires a JD is not good

https://www.mass.gov/service-details/massachusetts-bar-exam-results

https://www.law360.com/articles/1002128/recent-law-school-grads-wary-about-degree-s-value

[aaronmo]

So let's address the argument that the CPA exam is harder because of the lower pass rate…because it's bunk…

In most states you can sit the exams with just a BA.

To sit the BAR, you have to gotten into, and through, law school. In other words it's 80% of a much smaller pool…and that pool gets filtered out in law school because the schools don't want to report low pass rates. So they flunk the people who they think won't pass out.

Pass rates aren't everything…it's also who is being tested.

As far as job market…I agree, and it's why I did the CPA instead of law when I am more geared towards law in some ways. If you can do two things…like engineer/law, or medical/law…you're going to make a lot of cash though.

I like accountants more than lawyers too…generally. Less ego/BS.

[Will]

https://www.sfchronicle.com/business/article/California-bar-exam-passing-rate-rises-ending-12372088.php

In 2016 the BAR pass-rate in CA was 43%. In fact, the article says: “Some law school deans and other leaders in the legal profession have called for California to reduce its passing score, the second-highest of any state.”

2nd highest pass-rate to MA at 80%?

More info below:

https://www.casefleet.com/blog/bar-exam-analysis-state-breakdown-pass-fail-rates

I haven't taken the BAR but there is NO way it's easier than any of this.

[aaronmo]

It's different. I think it's harder in that fewer people can pass it and you really don't get those 50 to 75 stories on the bar either. I think it can take less tome to prep and I think it's more substantive. The way the CPA exam tests short term memorization and detail is, IMO, stupid. And progressively more stupid with technology.

It is what it is…it's a barrier that is intentionally difficult because what the license conveys and permits is really important. That's the difference between the CPA and the made up industry certifications.

[Go.For.Broke]

@nalratoss Yes, REG was tough for me. It was my most difficult section. It took me 4 attempts to pass (66, 67, 70, 77). Mnemonics will become your best friend when studying the tax portion. I'd search on this forum for some good mnemonics. I remember founding a fantastic thread of them for REG (can't remember where on this forum, though; sorry), and I printed it out (several pages). Of course, Becker, Roger, and other sources provide good mnemonics as well.

For the BLaw portion, @Bourne is correct. It just involves some logical thinking for the most part. But areas like commercial paper and agency law can be a little more difficult to grasp. But once you do, you've got it down. The BLaw material is – as Peter Olinto (Becker) describes – “low hanging fruit/easy points.” You want to save your errors for the tax portion. Ha!

Good luck!

[aaronmo]

Every section has its own unique challenges…and a lot will depend on the background and skill sets of the candidate.

FAR – covers so much ground! Has a lot of concept and a lot of “memorize a whole lot of little details”. EVERYONE is going to have stuff that is annoying here.

Audit – the most concept oriented exam. Has the least memorization, but if you don't get it, it's going to be the hardest to pass. Is fundamentally legal and process as opposed to bookkeeping.

REG – covers almost as much ground as FAR…has some concept in areas most have less background in (business law and legal frame works). Lots of things that require memorization AND concept…like differences for different entities. I think REG's difficulty is often related to how much job experience you have.

BEC – has the least actual accounting material, extremely memorization heavy. Covers a lot of areas that are fluff with arbitrary framework. For me, this might have been the hardest because I thought it was all such BS (other than the cost accounting piece) that it was hard to take seriously and study.

[Author]

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