[mdrobbin]

It’s so frustrating… I’m going through the Wiley Test Bank and I get a Sec. 179 question. I know the rule from NINJA, 139K with 560K phaseout. With millions of things we need to remember for REG because of all the little rules, there is the added stress of seeing MCQ’s on the test bank that are based on the 2011 rules with a 2M phaseout.

My brain hurts enough trying to master one set of rules but MAN is it distracting when I get a question wrong and, as I’m reading the answer, I’m trying to tell myself, DON’T memorize this phaseout, it is from 2011 not 2012 (and currently it’s 2013)… too many years to think about!!!

FAR - 2012 - PASSED (YAEGER)
AUD - 2012 - PASSED (YAEGER + NINJA NOTES)
BEC - 2012 - PASSED (YAEGER + NINJA NOTES)
REG - 2013 - PASSED (YAEGER + NINJA NOTES + NINJA AUDIO)

ETHICS - 2013 - PASSED

DONE!!! Thank you A71 for all the support! Hiya!!!

[MustPass1988]

You don't need to memorize the amounts of the phaseout. You just need to memorize which deductions have phaseouts.

AUD: PASSED [81]; Expired, retaking August 23rd
BEC: PASSED [83]; Expired, retaking July 11th
REG: PASSED [83]
FAR: FAILED [64]; Retaking May 23rd

[bighitter56]

Agreed. Don't stress out over any numbers. REG is far more conceptual than people realize.

BEC- 86
AUD- 96
REG- 83
FAR- soon hopefully

Using Wiley CPA Review Books and 2012 Wiley Online Test Bank
MBA in Finance & Strategy

[Anonymous]

I took REG about 3 weeks ago and I can tell you not to worry too much about all the rules getting you frustrated and confused. For the most part, they don't get too confusing on the exam like they might seem with the material. There are instances where they get ticky tack, but for the most part you don't run into an issue with certain year's exclusions, etc.

I'm taking FAR next week and I feel like this section is so much more confusing with the Bonds, Leases, Pension stuff. There's like a million ways to do each of them, and between Wiley and Becker they present you with the info another million ways.

[Anonymous]

I know from the general consensus that it isn't necessary to memorize phaseouts etc., but this section 179 stuff has me really confused. On Ninja audio Jeff talks about limits being $139 and $560 phaseout figures. However, my Wiley book says that 179 is a limit of $500K and the phaseout is any dollars over $2million. I clearly have things mixed up. Can anyone help?

[mdrobbin]

The Wiley 2012 book is going off the 2011 tax law of $500K and $2M. The exam should reflect 2012 tax rules which is $139K and $560K.

I was getting mixed up on the same thing and it sure makes it confusing.

FAR - 2012 - PASSED (YAEGER)
AUD - 2012 - PASSED (YAEGER + NINJA NOTES)
BEC - 2012 - PASSED (YAEGER + NINJA NOTES)
REG - 2013 - PASSED (YAEGER + NINJA NOTES + NINJA AUDIO)

ETHICS - 2013 - PASSED

DONE!!! Thank you A71 for all the support! Hiya!!!

[littlenumberrobot]

For real life, 2012 was retroactively put back up at $500K sec 179 limit. I agree with the others though, don't let this get you too confused.

CA CPA - All because of the journey listed below
-----------------------------------------------------------------------
FAR - 53('10), 8/25/12 79 PASSED!
REG - 66('11), 69('12), 12/06/12 77 PASSED!!
BEC - 58('10), 74('12), 01/05/13 77 PASSED!!!
AUD - 43('11), 66('12), 69('13), 74('13) 7/29/13 85 PASSED!!!!!

(Combinations of Roger, Yaeger, Wiley Book, Wiley TB, & NINJA Notes)

Ethics 90%

[make_yourself]

The 179 thing is still really confusing to me despite going through it several times. I understand the idea, but have trouble applying it.

Trying to not get too hung up on the numbers. REG has definitely been stressing me out as well.

With FAR, despite the massive volume, it felt like if you understand how the financial statements work together and you're able to boil all the concepts down to journal entries, it's not too bad. With REG, it feels like almost pure memorization, aside from a few items.

10 more days!

FAR - 81 (07/24/2012)
BEC - 92 (10/06/2012)
AUD - 92 (11/29/2012)
REG - 88 (02/28/2013)

Ethics - 90

California Licensed CPA - 12/2013

[mdrobbin]

I'm with you, make_yourself. REG is freaking KILLING me. FAR was brutal with the amount of material, but it seemed to piece together for me.

REG is a cluster. The tax rules for different entities (partnership, individual, S-Corporation, C-Corporation, Personal Service Corporation) get all mixed up… and I spend so much time trying to get tax down and BAM, there is this massive chunk of B-Law that is completely unrelated.

I was really hoping to pass REG on my first try but I'm seriously just not feeling confident right now. This is brutal.

And I thought I understood the Sec. 179… I didn't even know about the retroactive change that reverts back to $500K / $2M.

I'm seriously going to start crying.

FAR - 2012 - PASSED (YAEGER)
AUD - 2012 - PASSED (YAEGER + NINJA NOTES)
BEC - 2012 - PASSED (YAEGER + NINJA NOTES)
REG - 2013 - PASSED (YAEGER + NINJA NOTES + NINJA AUDIO)

ETHICS - 2013 - PASSED

DONE!!! Thank you A71 for all the support! Hiya!!!

[MGG86]

I have the same problem. I have an update Gleim and was studying from there with the 139K and phase out 560K, I was reviewing with a buddy and he has 2011 Becker where it showed 250K with 800K, So, I would go ahead with the 139K. I actually remembered both amounts by now. Grrrr. REG is too much #s, %s, amounts etc.

AUD 90%
REG 02/27, 2013
FAR
BEC

[Author]

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