[debitcash]

Many questions on Ninja MCQ have this type of notice written under the explanation…

“This tax break and amounts discussed here originally expired in tax year 2014, and has not been extended by the U.S. Congress for tax year 2015.”

Are these types of things still considered fair game for the exam? I’ve seen many questions ask about older regulations without giving any info in the question — what am I to expect come exam day?

FAR:75!
AUD:69, 63, 73, TBD
BEC:76!
REG:71, TBD

BECKER + NINJA PRODUCTS

keep your cool

[Birdman]

The updated legislation will go into effect for exams beginning July 1.

Ex: the section 179 amounts we need to know are 25k/200k for 2015, not the 500k/2m

FAR- 74, 78 (10/15)
BEC- 73
REG- 65, 88 (05/16)
AUD- 7/16

[sar_rah]

Just took REG May 13th. That was one of my big concerns as well, but there wasn't anything that had disparity like that. Anything on those weird areas was given. I don't remember the specifics, and even if I did I obviously couldn't post them. But going off of the 179 example that @birdman93 mentioned, it would tell you like assuming the $25,000 maximum 179 deduction….etc. From that you should be able to figure out that its using 2015 amounts and know and that the threshold for property place in service over $200,000 gets phased out dollar for dollar.

Dont stress that stuff! Based off my exam, I'd say its safe to say that any amount where the dollar amount changes year to year is NOT expected to be memorized (like exemptions, deductions, filling status differences, etc.)

As for dollar amounts, just make sure you know the things set in stone, like the mom and pop, corporate AMT phaseout, ACE, amounts of misstatements where if under that threshold a penalty doesn't apply, when accrual is required, accumulated earnings amount, and those sorts of things. Don't bother memorizing all those crazy numbers in R1&2 subject to change each year.

AUD: 98
REG: 91
BEC: 86
FAR: 83

DONE DONE DONE and DONE all on the first try! It IS possible, just keep on studying!

[Author]

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