[jeff]

Free Study Planner, Notes, Audio, Flashcards: https://www.another71.com/cpa-exam-study-plan/

Free CPA Exam Survival Guide: https://www.another71.com/cpa-exam-survival-guide/

AUD - 79
BEC - 80
FAR - 76
REG - 92

Jeff Elliott, CPA (KS)
NINJA CPA | NINJA CMA | NINJA CPE | Another71

[rbozung]

Thanks, guys. Good to know because my practice questions were including amounts.

BEC - Passed
AUD - Passed
FAR - 10/28/14 (waiting results)
REG - Passed

[kappa1032]

Just finished Audit this morning – now on to REG retake!

FAR - 81
REG - 74, 87
AUD - 88
BEC - 88

Finally.

“The only guarantee for failure is to stop trying”
― John C. Maxwell

[Anonymous]

All private foundations must file annual information returns with the IRS. Most other tax-exempt organizations are required to file annual information returns only if their gross receipts exceed a specified level. That level is:

A.

$10,000.

B.

$25,000.

Incorrect C.

$50,000.

D.

$75,000.

You answered C. The correct answer is B.

For nonprofit organizations that are not private foundations or religious organizations, an annual information report to the IRS is not required until the group's gross receipts exceed $25,000 annually.

page R3-60 of becker says 50,000 which one is correct?… makes for a good question 🙂

[Mary 2496]

Tax exempts under $50,000 in gross revenue don't have to file. They can file 990-N instead, which is basically an information postcard. The correct answer is C. $25,000 is wrong. (I'm a tax accountant. I file many tax-exempts a year.)

[rzrbkfaith]

@Hustle Darling – at this point, I still have R8 to do, so I plan on finishing that up on Saturday morning, then my little girl is having her 8th birthday party, so I will be busy the rest of the day! On Sunday I am going to focus on tax. In the morning R1-R2 review, progress test (probably 100 questions) and look at the SIMs that I flagged for review. Sunday afternoon/evening I will look at R3-R4, progress test (probably 100 questions) and look at the SIMs that I flagged. On Sunday I will review material that will make up approx. 60% of the exam. Monday I will review R5-R8, really concentrating on R5 since 20% of the test can come just from that chapter. I won't do progress tests or review SIMs on Monday (since the likelihood of a SIM on blaw is very low). I will do Final Exam #1 on Tuesday. Review weak areas Wednesday and take my beat down on Final Exam #2 on Thursday. This is my formula for final review for each of the tests I have taken so far and its worked pretty well.

AUD - 99
BEC - 97
REG - 91
FAR - 1/8/16

[Evwy_Mom]

Can anyone tell me if the MCQ questions on Ninja are very different from the MCQ on Wiley? There aren't that many MCQ's on Wiley and I think I'm starting to just memorize the answers.

I'm scheduled to test again on 10/9 and this is my last shot; if I don't make it this time, I'll lose credit for AUD and I just can't keep on at this point. I BOMBED on the simulations last time. I got a 72 – scored mostly ‘high' on my score report except for 2 areas, one of those being ‘comparable' and one being ‘weaker'. So I really think I need to spend some time working SIMS.

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

I AM DONE!!

[Evwy_Mom]

If a person owes alimony in arrears, and the payee dies, does the payer have to pay the estate? Or does the debt go away with the death of the payee (former spouse)?

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

I AM DONE!!

[Garion]

@ Evwy_Mom… Not sure and I would think so as the trustee would want everything they could get to fulfill their charge.

However, your question begs another… are you planning something? Just jokes… it's late and I have been going at this stuff all day.

FAR 84 (7/24/14)
BEC 87 (8/28/14)
REG 84 (10/14/14)
AUD 86 (11/24/14)
Ethics 98 (1/19/15)
Licensed CPA: March 13, 2015

[Evwy_Mom]

@Garion Hahahaha!! I didn't even think about how that would come across! 🙂 Thankfully, no, but there was a question about this on the exam last time.

I've been going at this for long time too. I'm so freaking tired! I'm dreading next Thursday and looking forward to it at the same time. At least I'll be done with this exam, one way or another.

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

I AM DONE!!

[Garion]

@ Evwy_Mom… From the comments everyone makes on this board… many of us feel the same way as you do now. Keep going… Just seven more days. Stay confident and focused. Think marathon with one mile to go. A waste to sell short now. One more and you're done.

Look forward to hearing about how well you did.

FAR 84 (7/24/14)
BEC 87 (8/28/14)
REG 84 (10/14/14)
AUD 86 (11/24/14)
Ethics 98 (1/19/15)
Licensed CPA: March 13, 2015

[Dan T]

So I'm pretty upset on this, in my mind I knew the tax return extension was 6 months and then I changed everything to 3 months because I read this. Its from Tax Code S 6081

(b) Automatic extension for corporation income tax returns

An extension of 3 months for the filing of the return of income taxes imposed by subtitle A shall be allowed any corporation if, in such manner and at such time as the Secretary may by regulations prescribe, there is filed on behalf of such corporation the form prescribed by the Secretary, and if such corporation pays, on or before the date prescribed for payment of the tax, the amount properly estimated as its tax

After reading this I used 3 instead of 6, can anyone explain this, is 3 months used in certain circumstances?

AUD - 75 ☺
FAR - 65, 71, 70, 77 ☺
BEC - 80 ☺
REG - 73, 66, 79 ☺ 2/28/15

Done!

[rzrbkfaith]

Its 6 months. For calendar year corps and partnerships, the original due date is 3/15 and the extended due date is 9/15.

AUD - 99
BEC - 97
REG - 91
FAR - 1/8/16

[Mary 2496]

Tax-exempt organizations are three months.

[Dan T]

I shouldn't have even bothered looking through the AL, should have just went with what I knew…

AUD - 75 ☺
FAR - 65, 71, 70, 77 ☺
BEC - 80 ☺
REG - 73, 66, 79 ☺ 2/28/15

Done!

[Mary 2496]

Been there …. knew I should have done the same. I am sooo guilty of over-thinking exam questions and getting them wrong.

[Author]

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