Hey KTGA, I just took my REG exam last week and I'm expecting to receive my score this Saturday. I also used Becker, but since I only spent about 3 weeks studying for REG, I didn't have enough time to do the practice exam and do extra questions from Wiley. I wish I had. I'm not sure if this will help you or not, but some of the tricks and tips I used help me understand and simplify the topics.
Tip #1: “Association with relations.” A lot of the individual/corporation tax can be related on many personal levels. So when I was studying individual/corporation taxation and learning the deductions/agi, try to studying from a tax preparer's perspective. Relate some of the topics of deductions & exemptions to people/experiences you know that could take advantage of those specific deductions.
For example: Since I have student loans, I was very keen on the student loan interest topic. So I asked my self “What deductions can I take advantage of and how much?
Example #2: My mother just sold her house for profit. So if I was her tax preparer, how much profit can she exclude from being taxed?
Example #3: A robber recently stole lot of stuff from a friend of mine's house which really sucked. If I was his tax preparer, how much deductions can he take after receiving insurance proceeds?
Tip #2 The mnemonics becker has is extremely helpful. I would review those a couple time. Remember, when the subject of AMT comes up, think PANIC TIMME! Also, corporation AMT is similar to AMT individuals except it's “MOLD”ed. Also, someone from another71 came up with the mnemonic, “SHIT IM DOPE ASS” for deductions.
Tip #3: Don't slack of on simulations. I unfortunately didn't do all of becker's simulations and when it came to the test, the simulations were extremely tough. Utilize all of becker's and wiley's sims.
Tip #4: Search for similar REG topic discussions on this forum! There are other helpful suggestions people have discussed in the past which might be very helpful.
The majority of questions will be on taxation, but they also do test on non-tax stuff, just not as much as taxation. So I wouldn't slack off for R5-R8
Personally, I think Becker did an excellent job on covering the topics. There weren't any surprising MCQs that becker didn't cover. Wiley adds the icing on the cake. It certainly doesn't hurt to use wiley.
Good luck studying!
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