[kaik]

I’m studying for REG, and I’m concerned about tax law changes, exemption changes, etc. I have the 2010 Becker book, but some of the material seems to not be updated.

I understand that knowing the concepts is step 1 to passing this part of the exam, but to what extent do I need to have the actual numbers memorized?

eg: the casualty/loss exemption… does it equal $100 or $500 on the test that I’m going to take in a week. Becker leaves me unsure. Furthermore, I know that the unemployment compensation taxable floor is being/has been removed, yet it still shows up in my becker materials.

This is my largest concern regarding the exam. I know concepts; I’m concerned about what numbers I need to know.

If anyone has any advice or knowledge, I would greatly appreciate it.

Thanks

FAR 11/1/10 - 94
REG 11/29/11 - 99
BEC 1/4/11 - 80
AUD 4/15/11 - 92

[Trevor]

I will put up my experience with the exam.

@Jeff, please advise if I have included to much info –

It was my experience that the numbers are not THAT important, certainly the concepts and calculations are. Using your example of causualty loss; the questions seemed to all state “before the $100 for each loss” or “assuming a $100 floor.” This was the case for much of the exam, including annual gift exclusions… I think it would be very helpful to know the 7.5% floor for medical on schedule A and the items subject to 2%… As far as phaseout information, I do not quite remember but do not remember a specific time where I needed to say “oh thats over the phaseout!” Be aware of the Section 179 limit and other limits (i.e. contributions – 50%). Hope that helps! good luck

BEC: 73,81(7/6/2010); AUD: 75(5/24/2010); FAR: 76(8/31/2010); REG: 77 (10/18/2010) - DONE!!!!

[kaik]

Thanks very much.

FAR 11/1/10 - 94
REG 11/29/11 - 99
BEC 1/4/11 - 80
AUD 4/15/11 - 92

[Anonymous]

My experience with the REG exam is that any figure that changes from year to year (ex – exemption amounts) don't memorize because they don't ask questions where you need to know it on the exam. If a question includes exemptions the exemptions figure will be given.

[Author]

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