[OnMyWay732]

As I study REG, there’s plenty of amounts and eprcentages that are indexed.

For instance, Max contribution on a traditional IRA is 5,500/yr. Should I make an effort to remember this?

Or HSA is max 3,300/year.

I just dont want to waste time I dont have to.

Thanks.

AUD - July 2014 - 76
REG - August 2014 - 82
FAR - November 2014 - 78
BEC - January 2015 - 81

DONE!!!!

Used Becker online. Who needs a text when you can burn your eyes out staring at the screen for months on end?

"Let me tell you something you already know. The world ain't all sunshine and rainbows. It is a very mean and nasty place and it will beat you to your knees and keep you there permanently if you let it. You, me, or nobody is gonna hit as hard as life. But it ain't how hard you're hit; it's about how hard you can get hit, and keep moving forward. How much you can take, and keep moving forward. That's how winning is done!"

[Anonymous]

I would love to know this too.

[OnMyWay732]

Maybe someone will answer us haha

AUD - July 2014 - 76
REG - August 2014 - 82
FAR - November 2014 - 78
BEC - January 2015 - 81

DONE!!!!

Used Becker online. Who needs a text when you can burn your eyes out staring at the screen for months on end?

"Let me tell you something you already know. The world ain't all sunshine and rainbows. It is a very mean and nasty place and it will beat you to your knees and keep you there permanently if you let it. You, me, or nobody is gonna hit as hard as life. But it ain't how hard you're hit; it's about how hard you can get hit, and keep moving forward. How much you can take, and keep moving forward. That's how winning is done!"

[LongShot]

Based on my two failures with REG, it depends. You probably don't need to know the weird amounts that are tied to CPI and/or a congressman's whims that change every single year, but should know the more stable, consistent amounts. For example, you should know the main amounts used in figuring AGI and Schedule A, but something like the standard deduction that changes every single year you could probably do without.

FAR - 75
AUD - 72; 87
REG - 64; 74; 84
BEC - 88

Done!!

[Anonymous]

Without going into specifics of the exam, I would say that you do need to know some of these. I call these limitation questions.

Very broad rules on limitations – like the $25k rental loss, $25k section 179 depreciation, 10% medical, etc. I would say that you need to know these cold. They can affect multiple issues on your return / calculation of AGI, taxable income, etc.

Specific questions – IE – they could only ask about 1 or 2 questions on a topic is a gamble up to you.

However, obviously, every question isn't on these particular topics. I didn't memorize every threshold of IRA contribution information limitations – I didn't think it was worth my concentration effort for something that I hoped would be only one or two questions. I knew when non-working spouses could contribute, and what the max threshold was before the couldn't – but didn't memorize that between 100k and 120k there was a phase out (or whatever it is)

My “limitation” questions were in the SIMS, so I had a resource to double check my numbers. This was helpful.

Since I don't have my scores, obviously, I don't know if I'm correct or not – but I felt very comfortable walking out of the exam.

[Author]

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