[Anonymous]

so this has probably been asked before but how important is it to memorize all the phase outs. i know some of them need to be but after going through some of the first couple becker REG practice questions, i noticed that topics that involve phase outs dont ask questions pertaining to the phase outs. does the actual exam expect me to know every single phase out regarding education tax incentives, all the tax credits phaseouts, etc?!?! or does the actual exam sort of just provide you with information like “assume that the phase out begins from XXX-XXX”?

[Mamabear]

Don't focus on the phase outs or let them overwhelm you. Focus on how things affect the tax return (AGI, 2% Itemized Deductions, 10% Medical, etc). The phaseouts change to frequently to be heavily tested.

CPA Exam - Finally DONE (November 2014)
BEC (08/10/13) 80
AUD (08/24/13) 65 (11/13/13) 85
FAR (04/12/14) 81
REG (07/19/14) 69 (11/29/14) 87!!

[Anonymous]

thanks mama thats a huge relief. im using becker and i felt like they were introducing a new phaseout per page.

[zieba]

I echo mama's sentiment. I would add that it's wise to know the biggest ones, like medical but don't focus on minutiae.

AUD - 75*, 88 done 5/14! (*exp)
BEC - 74 , 77
REG - 65 , 76 (10 point combooo!!)
FAR - 69 , 75

Dr: perseverance
Dr: intelligence
Dr: luck
. Cr: . advisory score

[fightingforsanity]

Sry to hijack your thread but would this also apply to limits and other amounts (such as first $5,000 or 20-35% of eligible expenses). There's just so much to remember!

FAR - ✓
AUD - ✓
REG - ✓
BEC - ✓

Don't give up!

[Mamabear]

Your main priority for REG needs to be how things flow (Above the line, etc), basis, the different corporations and how certain things differ between them (liquidations, etc). Focus on the concepts and honestly, the more problems you do, the more those phases are nailed into your brain that you can't help but remember some of them. Trying to focus on memorizing them will only frustrate and overwhelm you. Many of them will be remembered naturally just from drilling MCQ.

CPA Exam - Finally DONE (November 2014)
BEC (08/10/13) 80
AUD (08/24/13) 65 (11/13/13) 85
FAR (04/12/14) 81
REG (07/19/14) 69 (11/29/14) 87!!

[Anonymous]

Don't ignore Blaw.

[Author]

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