[Rose0521]

Hey guys, I was working on some ninja stimulations and came upon a question regarding business travel expenses. The question did not give the rate used for the 2015 year but said that the person was reimbursed 0.30 per mile. Are we supposed to know the rate for 2015 which is 0.575? I saw in the answer when I got it wrong that the rate was of 0.575-0.30 was used. Should I memorize it?

BEC - 83
AUD - ?
REG - ?
FAR - ?

Just keep trying!

[spatel15]

I'm not totally sure about the exam, though I was “told” not to worry about too many of the number; but if Becker MCQ's are accurate, there's a boatload of specifics to know. Haven't seen that yet, but I'm sure I will.

[tuanxn]

I would suggest knowing specific amounts like the standard mileage, standard deductions+additional for blind/old age, personal/dependent exemptions, Kiddie tax earnings limits, AGI % limits for itemized deductions (big one that always trips me up is casualty losses since it has an additional $100 per event), etc. I think they might expect you to know the standard mileage rate because it's used frequently in the real world. You probably won't need to know all the AGI phase outs for everything (but you do need to know what has a phase-out).

Just keep working the MCQ and you'll start to see what numbers they expect you to know. Try making flashcards for those amounts, it really helps!

[Rose0521]

Thanks for the help 🙂

BEC - 83
AUD - ?
REG - ?
FAR - ?

Just keep trying!

[Author]

Replies