What's a tax hater to do with REG?

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    Topic
  • #198597
    jlee1086
    Participant

    I’m using Becker (live classes) and struggling with the never-ending C-corp homework. R3 reminds me of F2 in FAR (many questions with no examples) except that you can’t fall back on JE’s. Since I’m coming off of AUD, it’s a struggle to get back into calculation mode.

    Tax was my weakest subject in school and although I have plenty of time until FAR expires, I’m scared this will be my hardest part. With FAR, there might have been too many topics but since most accounting problems have an underlying logic, once I got it, I got it. It’s not that way with tax. So many exceptions and rules to keep straight. Hopefully, I’ll get a break with law (it was my easy class in school) but I can’t really say anything about it if I haven’t got there. How should someone who doesn’t like tax study and what the ratio of it to law on the test?

    PLEASE MOVE POST TO REG REVIEW. I misread the categories.

    FAR 57 (11/2014), 64 (1/2015), 79 (7/2015)
    AUD 68 (2/2015), 79 (11/2015)
    REG 79 (1/2016)
    BEC 81 (4/2016)

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  • #745234
    jcf175
    Participant

    As an auditor who also sucked at tax in school, bite the bullet.. study your balls of on corporate and individual taxes and have a general idea about most of the law stuff. I think my studying for reg was like 80% tax 20% law (just because my law prof in school did a really good job of preparing me)

    NYSCPA

    Passed all sections between 5/15 - 10/15 order AUD REG BEC FAR (used Becker only)

    #745235
    Jdn9201
    Participant

    Hmm well I work in and enjoy tax, but I'd say focus on big picture issues. Know the returns filed for different entities and know individual and corporate like the back of your hand. I was barely tested on trust, estate, and non-profit. Also, regarding business law, I was barely tested on that too. Outside of Tax, I focused my study on Circular 230, and the 1933/34 Acts. I listened to all of the BLAW lectures, but the last 2 weeks of my study I blew it off to get stronger in tax and the other areas.

    BEC - 88 8/29/15
    REG - 82 11/14/15
    AUD - 83 1/8/16
    FAR - 80 2/29/16

    #745236
    taxgeek83
    Participant

    EXAMPLE TAX RETURNS- VERY HELPFUL

    Start there – I took a look at the examples the other day and they seem fairly comprehensive. You can also find some additional return examples if you search for VITA volunteer preparer materials. Work through them until you can prep a return with a fair amount of confidence – that will at least give you a good idea of what goes where (i.e. the different schedules on the different returns, which return is filed for which taxpayer, etc.). You can work from that as a base and then get into the exceptions to the rules.

    #745237
    EuroAddict
    Participant

    I think the blaw portion will be much diff. than what you experienced in school.

    -----------------------------
    BEC - 77, 03/2015 (first try)
    FAR - 79, 05/2015 (second try)
    REG - 83, 12/2015 (first try)
    AUD - 84, 03/2015 (first try)

    I got 99 problems but the CPA ain't one.

    #745238

    make some of your own audio lectures on blaw and focus on tax. that's how i passed mine.

    If I can do it, you can do it too!

    Certified CPA, 2016

    Licensed CPA since Apr 16
    Order in sequence of passing
    FAR-71,71,79
    BEC-80
    REG-72,77
    AUD-56,72,72,72,80! Thank you, thank you, thank you Lord!
    FAR/BEC/AUD: Becker & Yaeger lectures (Wiley & Ninja MCQs). REG: Becker lectures (Ninja MCQs).

    #745239
    Anonymous
    Inactive

    @hokinizeu I see in your signature you used Yaeger . I am also studying with Yaeger , I passed all three by using Yaeger and my last one is reg and as you know reg is lectured by Phil.
    I wanted to know do you did only those question that Phil is suggesting and points that touch by phil during the lecture , he skipped lots of material even though I do believe it is not possible to memorize all those rules .
    for all three exam I read entire book at least 2 times but for the reg ,due to time limitation and huge voume of material I can't read the entire book. I am scare this time.
    please share your experience.

    #745240
    Anonymous
    Inactive

    With REG, although Tax is the more ‘complicated' subject matter, you must also spend a great deal of time on the law material.

    #745241
    NotAnother74
    Member

    To me, REG was like 80/20 tax to law. I just answered questions and referred to the material as needed. Do NOT waste your time learning all of the exceptions. I noticed the material in REG was particularly fluffy in terms of crazy amounts of rules that won't be tested. Focus on the bigger picture instead. Like the NOL calcs, charitable deduction, dividends received deductions, etc. I'd know the nuances of the limitations but don't get lost in the AMT preferences and adjustments (individuals) etc. There are lots of them and I doubt the exam is going to test you on those.

    Just work the hell out of multiple choice, understand why you miss something and move on to the question. Don't get lost reading the material and trying to memorize it all. You are killing yourself with that strategy.

    F AR - 76
    B EC - 82
    A UD - 77 (lost credit)/Retake 2/25
    R EG - 80

    #745242
    WheresMy75
    Participant

    @jdn9201 you mentioned to really focus on individual and corporate tax. What about partnerships and property taxes?

    #745243
    jlee1086
    Participant

    Euro, you're right that a lot of blaw was stuff I didn't learn in school (securities, commercial paper). Some of what I did learn like UCC is stuff I don't remember. Of how much it's tested, I heard everything from they were barely there to people having law as the majority of their MCQ's. To make matters worse, the law teacher I had for Becker was very bad. She spent most of the time reading the book though it's probably because she lacks experience (in the first class, she didn't even know we had a break). Every each teacher I had from Becker (including the tax guy) actually taught and even told us what to skip. So I'm not sure how they got her (and I still didn't get their survey). While blaw is easier than tax, I'm in the dark on what to focus on. How do I approach this?

    FAR 57 (11/2014), 64 (1/2015), 79 (7/2015)
    AUD 68 (2/2015), 79 (11/2015)
    REG 79 (1/2016)
    BEC 81 (4/2016)

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