[Q2] REG Study Group 2014 - Page 6

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    Topic
  • #183481
    jeff
    Keymaster

    I’ve had a few requests for April/May Study Groups…March will be here before you know it.

    In order to take an early April exam, you should begin studying…now. šŸ™‚

    AUD - 79
    BEC - 80
    FAR - 76
    REG - 92
    Jeff Elliott, CPA (KS)
    NINJA CPA | NINJA CMA | NINJA CPE | Another71
Viewing 15 replies - 76 through 90 (of 631 total)
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  • #558983
    golfball7773
    Participant

    I am really in this time around. My wife and I usually carpool together, but now she making me drive seperately because I get off an hour earlier. She wants me to start studying so I can be home by supper time. I am forced to be dedicated.

    I failed Reg once and I have the 2014 wiley book. Should I use this for the May exam or do I need the 2013 book?

    AUD - NINJA in Training
    BEC - 86
    FAR - NINJA in Training
    REG - NINJA in Training
    AUD - 71, 73

    BEC - 74, 86

    REG - 77*

    FAR - 57

    *expired

    (I have been trying to become a CPA since 2013). only one test down.......

    FAR: 63, 55, 62
    REG: 65, 77*
    AUD: Fail, 64, 71
    BEC: 72, 74, 81

    *expired

    #558984
    gorbuha
    Participant

    Also can I use a 2012 book if I am taking REG in May of this year?

    FAR - 89
    AUD - 84
    BEC - 84
    REG - 49, 86
    ETHICS - 96........ DONE!!!

    #558985
    gorbuha
    Participant

    Also can I use a 2012 book if I am taking REG in May of this year?

    FAR - 89
    AUD - 84
    BEC - 84
    REG - 49, 86
    ETHICS - 96........ DONE!!!

    #558986
    iwantopass
    Member

    Hello fellow Ninjas!

    I already passed AUD, FAR and BEC the first time i took them. Unfortunately after taking REG twice, I still didnt manage to pass. I feel so frustrated because I believe I gave my best. I did very well on the MCQs but what keeps me from passing are the sims. Although it's a retake, i went through the whole course again and covered my weak points to prepare for my 2nd take. I prepared so hard because i really want to get over with this exam. But none of the sims i studied even came close to the ones given in the exam. Now i'm lost for strategy. I'm more pressured and scared to take it the 3rd time. This is my last chance to take it before my AUD credit will expire. Can anyone please advise, especially those who nailed REG, what could be a good strategy to pass REG? I'm thinking of subscribing to Wiley Test Bank. Will this help or are there other review materials out there that are better especially with sims? Please help I really want to pass. Thank you

    #558987
    CPA soon
    Member

    I will be buying the Wiley Test bank and I want to focus more on solving questions rather than theory this time..3rd time is the charm.

    FAR - 71, 68, 74, (8/31/14) 78 āœ”
    REG - 67, 71, 71, (10/18/14) 78 āœ”
    BEC - (11/29/14) 86 āœ”
    AUD - 73, (4/4/15) 86 āœ”

    I can't believe this is over! 2 years and 3 months..

    #558988
    Anonymous
    Inactive

    Does anyone with Becker understand this question. I chose 70,000 because I thought you choose the lesser of the dividends received or the taxable income unless it leads to a loss or adds to a loss. Can anyone explain to me why this one is different?

    In Year 1, Best Corp., an accrual-basis calendar-year C corporation, received $100,000 in dividend income from the common stock that it held in an unrelated domestic corporation. The stock was not debt-financed and was held for over a year. Best recorded the following information for Year 1:

    Loss from Best's operations

    $ (10,000)

    Dividends received

    100,000

    Taxable income (before dividends-received deduction)

    90,000

    Best's dividends-received deduction on its Year 1 tax return was:

    a.

    $63,000

    b.

    $100,000

    c.

    $80,000

    d.

    $70,000

    Explanation

    Choice “a” is correct. The dividends-received deduction (“DRD”) is generally calculated as 70% of dividends received which would be $70,000 (70% Ɨ $100,000). However, the deduction is limited to 70% Ɨ dividends received deduction (DRD) modified taxable income. DRD modified taxable income is calculated as taxable income before the dividends received deduction, any NOL carryover or carryback deduction, capital loss carryback deduction, and the domestic production activities deduction. Because the loss of $10,000 is a current year loss and not a carryover or carryback, it is not an adjustment to taxable income when calculating modified taxable income. DRD modified taxable income is $90,000. Bestā€™s DRD deduction on its Year 1 tax return is limited to $63,000 (70% Ɨ $90,000).

    #558989
    CPA soon
    Member

    You are technically deducting 10k of the dividends at 100% which is to offset the loss.. So if you taking drd off the whole 100k you are basically you are double dipping

    FAR - 71, 68, 74, (8/31/14) 78 āœ”
    REG - 67, 71, 71, (10/18/14) 78 āœ”
    BEC - (11/29/14) 86 āœ”
    AUD - 73, (4/4/15) 86 āœ”

    I can't believe this is over! 2 years and 3 months..

    #558990
    CPA soon
    Member

    It's like taking 170% off 10k worth of dividends and 70% on the remaining 90k

    FAR - 71, 68, 74, (8/31/14) 78 āœ”
    REG - 67, 71, 71, (10/18/14) 78 āœ”
    BEC - (11/29/14) 86 āœ”
    AUD - 73, (4/4/15) 86 āœ”

    I can't believe this is over! 2 years and 3 months..

    #558991
    LSNYC
    Member

    Hi all! This will be round 5 with REG for me. I can not seem to put this to bed. I have a ton going on right now but need to pass or O will lose AUD and BEC….. My goal is to sit in our around April 21st…. I have a few challenges, I cant drink coffee or take energy drinks so my goal is 2-3 hours a night with no caffeine and then full days on weekends. No Friday studying for the next 4 weeks I have a class that I don't get home from till almost 10. Also my job is going to be crazy busy in Q1 but hoping that i can still get a few hours here and there and be ready for the 21st!

    I am trying to come up with a new plan for this time around, I think i am going to watch all BLITZ videos, read GLEIM and do more MCQ. If anyone has additional ideas PLEASE let me know šŸ™‚ I'm open to trying anything…

    Here goes nothing! Good luck to everyone!

    A - 61, 91!!
    B - 78!
    F - 76!!!
    R - 71, 73, 74, 69, 77!!!!

    Finally done!

    This is my 2nd attempt at the exam, I had two parts passed (failed many) and I stupidly quit, big mistake. Now I'm back and with a vengeance!

    #558992

    Finally, I am on chapter 3 now. My goal for this week is finish chapter 3, but, corporation tax is always my weak points, I am hoping I can have better understanding this time.

    REG - 70. Retake on 5/30/14
    AUD - 8/31/14
    FAR - target 11/30/14
    BEC - target 2/28/15
    California Candidate

    #558993
    MikeHoncho
    Member

    Just got my NTS. Looks like I'll be joining everyone this window. Best of Luck

    Done: 5/22/14

    "Always do sober what you said you'd do drunk. That will teach you to keep your mouth shut."
    - Ernest Hemingway

    #558994
    Anonymous
    Inactive

    Hello everyone. I'm using Becker 2014 and just started studying for REG. I plan to take it the first or second week of April and am not sure if I should be using the 2013 or 2014 tax laws. Does anyone know what is testable during the 2Q window? Becker made mention of 2013 laws being testable until May and the CSOs make no mention of which we should prepare for.

    Thanks in advance for the info.

    #558995
    CPA soon
    Member

    You mean 2012 and 2013, yes it's 2012 till May (2013 Material)

    FAR - 71, 68, 74, (8/31/14) 78 āœ”
    REG - 67, 71, 71, (10/18/14) 78 āœ”
    BEC - (11/29/14) 86 āœ”
    AUD - 73, (4/4/15) 86 āœ”

    I can't believe this is over! 2 years and 3 months..

    #558996
    Anonymous
    Inactive

    What do you mean by 2012 (2013 material)? Are you saying 2012 tax rates which are covered in the 2013 Becker material? I have the 2014 Becker material and have been given the option to proceed with the 2014 material or to use the 2013 material. I just want to be sure I'm covering the proper laws…

    #558997
    CPA soon
    Member

    Well Becker 2013 material is using 2012 tax laws which is still tested till May, then 2014 will be using 2013 tax laws. I don't know how Becker handles that, I am sure they state it were necessary. I don't think much has changed except for the Medical deductions going from 7.5 to 10%. Other than that I don't think you should worry about the differences. They are testing concepts rather than specific amounts.

    FAR - 71, 68, 74, (8/31/14) 78 āœ”
    REG - 67, 71, 71, (10/18/14) 78 āœ”
    BEC - (11/29/14) 86 āœ”
    AUD - 73, (4/4/15) 86 āœ”

    I can't believe this is over! 2 years and 3 months..

Viewing 15 replies - 76 through 90 (of 631 total)
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