[Q3] REG Study Group 2014

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  • #185551
    #590606

    Hi Jeff, I am taking REG in Q3 (8/16/14). When will ninja notes updates be available?

    #590607

    Sometime late-June.

    The updates aren't that substantial.

     
    Jeff Elliott, CPA (KS)
    NINJA CPA Review
    #590608
    Anonymous
    Inactive

    Jeff, what about the Ninja MCQ and Ninja Audio? when they are getting updated for next quarter?

    #590609
    JMOR
    Member

    Does anyone know when the Wiley test bank will be updated with Q3 information, or is it already?

    #590610
    Anonymous
    Inactive

    I'm taking REG on 07/19 and I plan to start studying next week. I'm ready to get this last one DONE!! I'll be very active on here in a few weeks when I really get going with my studying. Happy studies to all of you!

    #590611
    Anonymous
    Inactive

    any hints on nailing down like kind exchanges with boot, without boot, recognized and realized gains and losses, and new basis? This subject is driving me nuts.

    #590612
    Dan T
    Participant

    I'm 7/19 too, I'm also hoping for a FAR pass so this will be my last one, what's everyone using? I've decided to not get Becker for this section and gonna go with Wiley book and ninja MC

    #590613

    Hi all I'm a late Q3 tester but just wanted to check in. Going to take a much needed vacation in June but will be checking back later next month to start gearing up for what is definitely the hardest of the two I've got left. I literally quiver when I look at the Q2 study group. But for now…go all you early Q3 testers go go go go!!

    #590614
    Mamabear
    Member

    I just purchased the Ninja MCQ for REG. Let's get this party started!!!

    #590615

    Haha love the name change mamabear!

    #590616
    Mamabear
    Member

    I was forced into it because I posted so much in the FAR thread and in the Score Release thread that the system thought I was a spammer. 🙂 I figured you guys would get a kick out of the new name. Love it. Glad it stuck!

    #590617
    Mamabear
    Member

    I am seriously kicking myself for taking the tests with less material first. FAR and REG seem ridiculously extensive in comparison to BEC and AUD. I am 100% dreading REG. I don't even know where to start in my studies. BLAW or Tax first? It seems like a lot of memorization, which wouldn't have been horrible 3 children ago. My memory is awful now. 🙁 How are you guys tackling REG?

    #590618
    Dan T
    Participant

    I'm reading the tax portion for reg in the Wiley book and doing the MC. I'm gonna skip the entire Bus. Law in the book. After I get through tax portion I'll get the Ninja MC and work those until I cry

    #590619
    Melans
    Member

    MamaBear – I did the EXACT same thing! Ugh- what was I thinking on that order??? But either way, I have REG and FAR left and till January to do it! It will get done!!

    I am testing on 7/14.

    #590620
    Mamabear
    Member

    Good luck Melans! We will get this done.

    #590621
    Melans
    Member

    Swirling in a sea of C-corp rules…. So much info.

    Earnings and profit calculations more closely resemble book income than tax income correct?

    #590622
    Dan T
    Participant

    Umm this has probably been asked for in previous threads, but for Q3 are we being tested on 2014 or 2013 amounts? (standard deduction, exemptions, etc.)

    #590623
    h0wdyus
    Member

    2014 code as far as I understand.

    #590624
    Dan T
    Participant

    thanks, so my wiley material is a little dated, ill just look online for updated amounts

    #590625
    h0wdyus
    Member

    Online could be very cumbersome, but is an option. Keep in mind the Wiley 2014 book has 2013 code which is valid till May 31 2014 exam. You could buy a text book with 2014 code in it and compare Wiley 2014 but they are expensive. You could rent from amazon for a lot cheaper. Jeff had pointed out yesterday that ninja notes have updates too.

    Let me know which option you are going with.

    #590626
    Dan T
    Participant

    hmm, I was planning on buying the ninja notes eventually so I'll just use that as reference for the 2014 amounts, glad to know they're up to date. Thanks

    #590627
    Kimboroni
    Member

    I'm probably weird, but I'm really looking forward to the REG material. I just took FAR today and have already started reading the first chapter for REG. It starts with business law in Wiley, so that's what I'm starting with. That also gives more time to make sure WTB's tax law is updated when I start working on it. I'm so glad people are asking about that here, or I may have overlooked it.

    #590628
    JMOR
    Member

    I talked to a Wiley rep today and she said that they will release a new book with 2014 tax law changes in it around mid June. They will also update the test bank then. If you have the 2014 book already you can email them to get a summary of the changes. I'm testing on 7/1. Good luck everyone!

    #590629
    Kelestrel
    Member

    Checking in! This'll be my first time testing any section. I'm probably way too excited about this. I picked REG to do first since I have more experience with tax than anything else, and hopefully it'll be a good way to get used to the whole process before taking on harder sections. I'm using Gleim, Wiley Test Bank and Ninja MCQ.

    @JMOR Thanks for sharing that info! I was wondering how updates would work with Wiley.

    #590630
    Melans
    Member

    Kelestrel – I am a Bob's Burgers fan, and your picture is excellent, nice choice! You can't be too excited, that will help keep you motivated!!

    #590631
    Kelestrel
    Member

    Melans – Thanks! I love the show too. It's all I can do not to get my own set of ears.

    I'm at least starting with tons of motivation! The Gleim material is arriving at my home today, and I'm sitting at work refreshing the UPS tracking constantly. I'm so glad I finally took the plunge and got started. I've been telling my husband for months that I'm going to disappear into studying, yet when I told him I plan to study about 25-30 hours per week he was shocked. I feel like we're on a roller coaster, inching our way out of the station and up the first big hill.

    For you guys who have tested before, how are you feeling? Is it like a “here we go again…” kind of thing, or do you still get excited?

    #590632
    Mamabear
    Member

    i definitely wouldn't call what I'm feeling “excited”, but I'm determined that this will be last test so I'm going to go with “reluctantly motivated”. 🙂 Keep up that enthusiasm!! You will be glad you went into this with lots of motivation!

    #590633
    Anonymous
    Inactive

    Hello I'm so confuse about charitable contribution, one of the question fr wiley he deducted net operating loss carryforward to get the adjusted taxable income. As per my understanding to get the maximum deduction, it will 10% income before special deduction. Pls see below questionnaire:

    During 2012, Jackson Corp had the ff income and expenses:

    Gross income fr operations $100000

    Dividend income fr taxable domestic 20% owned corp 10000

    Operating exp 35000

    Officer's salaries 20000

    Contribution to qualified charitable org 8000

    Net operating loss carryforward from 2011 30000

    What is the amount of Jacksons charitable contribution carrryover to 2013?

    A. 0

    B. $2500

    C. $5,500

    D. $6,300

    Could you please explain to me why the answer is C $5500?

    Thank you!

    #590634
    Amay
    Member

    Hi guys! I just received my passing score for FAR. So happy that nightmare is over!! Gotta get my mind around studying for my final one now, REG! Would love to know the cut off date for the first wave of Q3 score release to schedule accordingly. I think I need 7 weeks for this one…it is definitely my weakest of all the topics.

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