Section 179 Deduction – Reg

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    Topic
  • October 22, 2014 at 3:31 am #189490
    needhelpnow
    Member

    If I take the exam this month (year 2014)…For this section (179 Deduction), would the questions be based off of year 2013 or year 2014? Because maximum Exp in 2013 is $500k and in 2014 its $25k. Just curious. Thank you!

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  • October 22, 2014 at 1:36 pm #614146
    leglock
    Participant

    25k, use the 2014 limits

    October 22, 2014 at 1:48 pm #614147
    y_u_no_pass
    Participant

    They rarely ask questions about specific dollar limits on items that change frequently, like section 179. I didn't really memorize any dollar limitations, and I got a 92. You need to know the theory and the formulas more than anything. The order of things and how to apply the formulas, not specific dollar limitations.

    Florida CPA!
    Took final exam 2/25/15.
    Sent in Application 3/12/15.
    Issued License 3/20/15.
    Used CPA Excel solely for all exams.

    October 22, 2014 at 1:48 pm #614148
    y_u_no_pass
    Participant

    They rarely ask questions about specific dollar limits on items that change frequently, like section 179. I didn't really memorize any dollar limitations, and I got a 92. You need to know the theory and the formulas more than anything. The order of things and how to apply the formulas, not specific dollar limitations.

    Florida CPA!
    Took final exam 2/25/15.
    Sent in Application 3/12/15.
    Issued License 3/20/15.
    Used CPA Excel solely for all exams.

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