REG – Business Law Mnemonics??

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  • #199511
    shanek327
    Participant

    Which should i nail down?

    FAR - 75
    AUD - 78
    BEC - 82
    REG - 77

    2 Corinthians 5:21

    Our value does not come from our skills and abilities, as good as they may be; it does not come from our GPA, our job, a promotion from that job to a better job, our success on the CPA exam, or anything of the like; but our value comes from the fact that we have a Creator who loves us, cares for us, and desires to help us navigate the rough waters of this life in a way that provides security, hope, and true, everlasting joy while we anticipate the life to come, with Him.

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  • #754767
    Tripin93
    Participant

    Are you close to anyone whose name starts with “C” (friend/family)? My best friend's name is charity, so I used the follow mnemonic to remember what's excluded from taxable income when calculating taxable income for the business's charity deduction (which is limited to 10% of taxable income.) It's a gross mnemonic, but it worked. Lol

    Charity – exclude charity deduction (*substitute with anyone whose name starts with “C”)
    Drinks – exclude dividend received deduction
    Coffee – exclude capital loss carrybacks
    N – exclude NOLs
    Pees – exclude Production Activiities Deduction (U.S.)

    To remember what to exclude when calculating taxable income for the dividends received deduction, use this.

    Never – exclude NOLs
    Cared (to) – exclude capital loss carrybacks
    Drink (and) – exclude domestic production activities deduction (U.S.)
    Drive – exclude dividends received deduction

    Motivated by JC. I do it to make God proud.

    FAR: 91 July 2015
    AUD: 83 October 2015
    REG: 81 January 2016
    BEC: 83 February 2016

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