[Anonymous]

I am scheduled to take REG on 11/29. I sat for AUD last week and am awaiting scores. For other sections, I would normally listen to lectures, take notes, do homeworks and review for a week before taking the test. Now, I have to prepare for the much dreaded REG, for which I need advise. I have zero experience with taxes (I am an IT Auditor) and I hated the tax class in college. Should I use similar approach to the other sections I have taken? Or should I instead read the book to understand the material better? Should I consider coaching classes or something? Any advise?

[Anonymous]

I was in the same boat. I'm a F/S auditor, and taxes never have came easy to me. I'm taking REG tomorrow, and feel very prepared. I read the book, took extensive notes, and pounded MCQ's over and over. I used Jeff's MCQ's and have put in 70 hours and 4200 questions, and made sure to answer each one correct at least once. I think doing these MCQ's made the material stick. Also, remember that business law and ethics are about 40% of the exam, so that should help take a little pressure off taxation. Good luck!

[Anonymous]

Thanks @cmyers5! Did you take notes while reading the book? Also, did you read a chapter and then do mcq's or read the book (all the material) in 2/3 weeks before pounding on mcq's? I have used Jeff's notes in the past but am thinking of purchasing the MCQ this time. Like you said, more practice will stick the material better.

[Mary 2496]

I took REG and got a 73 (retake next week). While they say 40% is weighted towards ethics/law, remember that they could pull heavily from the deepest tax issues that are involved with reg, though.

I have been doing the same – books, lectures, notes, MCQ, and I've been working on sims. My score report showed that I scored comparable to others in MCQ and weaker in sims. I actually passed the freaking MCQ. Anyway, I am in review, review, review until next week. I'd use it all for reg.

[Anonymous]

@Cracked – I read the book and took detailed notes, then worked the corresponding MCQ. I can't speak for other MCQ volumes, but I'm 2/2 with the NINJA MCQ so far. I'd answer all of the questions in the test bank before moving on to the next section. Every few days, I'd do a light refresh of previous sections to keep it all fresh.

[Evwy_Mom]

I took the exam yesterday and my advice would definitely be to read the book and take notes. Then do lots of MCQ and lots of SIMS. You need a deep understanding of the tax portion of this exam especially.

AUD = 85
FAR = 79
BEC = 79
REG = 65, 72, 75!

I AM DONE!!

[Anonymous]

Maybe start with the business law stuff to get things rolling?

When you do the taxes, maybe start with corporate and partnership, since those are bigger picture?

Then when you tackle individual, print out all the forms and while you're going through the lecture, cross reference where you are on the 1040 and the schedules. Also, make sure you mentally breakdown the tax return and chunk the lectures accordingly (first start with filing status, income, then the adjustments to AGI, then the standard deductions, then the itemized deductions, then the exemptions, then the credits).

Also, write take aways and come up with little stories. E.g. for rental of vacation home, imagine that the Olympics was announced at your small time town, or maybe the second coming is going to happen right near where you live. Well, there might not be enough hotels and the demand for lodging could sky rocket (who wouldn't want to take a selfie with Jesus?).

If the Olympics or the second coming was 14 days or less (2 weeks) then the tens of thousands of dollars you might potentially make by renting out your own home (NOT apartment) will ALL be tax free. That's huge.

But if your friend wants to rent out your home for EXACTLY 15 days, well then you're going to need to tell your friend to take a hike. Because if they stay for 15 days, BOOM, all that income is now taxable.

[ohmy]

I took REG today and I must say I feel awful about it. I studied very hard with Becker Self Study, did all multiple choice and sims at least twice. My first set of questions were easy, I breezed through that in about 15 minutes, the second set of questions were very difficult and the third set was even harder. The third set I know I did not do well on. The sims were average but I had two research questions which if I have heard correctly means that I did terrible on the last two sets of multiple choice. I am hoping for a pass but am very prepared for a fail. But, time to shrug it off, I am scheduled for Auditing on November 29th. Best of luck to everyone!!!

FAR- 80

REG- Awaiting Score

AUD- 11/29

BEC- January 2015

[Mary 2496]

That can't be true. I had two research questions on REG and failed with a 73. My friend had two REG research questions and passed with an 81.

[abranaugh]

Two research questions has nothing to do with your score. My two highest scores (FAR – 89 and AUD – 88) contained two research questions, while my lower scores contained 1.

[ohmy]

Thank you both, I was really worried about that.

[Author]

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