MJP
offlineMember
I would be taking the REG section this July but the book I am using for review has 2009 rates. Is that safe? or should I look for 2009 rates?
Btw, I am new in this site! It's great to know that there are other people going under same scrutiny. :)
JPino23
offlineMember
It's my understanding that REG tests the older tax law for the first six months out of the year, and the test will be updated with the new tax law toward the middle of the year. I may be wrong but that's what I have heard. I don't know when this actually takes place but it seems that you are on the bubble. With that said, I would probably be safe and look at the new stuff. But I wouldn't really focus on the tax rates because the CPA exam dosen't focus on any tax rates that are subject to change annually. It focuses mainly on broader concepts of the tax code.
The GaJone
offlineMember
As far as rates go, I wouldn't worry a whole lot about them. The test doesn't get that specific. On the off chance they ask you to calculate something involving a specific tax rate, they'll say something along the lines of "assume a xx% rate" or something similar to that.
For most thresholds/rates you will be given what you needed. The only specifics that are worth memorizing is the casualty loss and section 179 amounts and phase out thresholds.
You must log in to post.
