Hi @9999
I took REG a few days ago and I thought it was the hardest of the 4 sections. I memorized phaseouts and amounts which were not subject to inflation but I actually end up not using them, so my suggestion is don't focus on the amounts. Just try to remember the basics like $3000 capital loss a tax payer can deduct, $100 and 10% floor in casualty, 10% floor on medical, 2% miscellaneous, etc. I think you're getting my gist here.
Focus on the concepts and be mindful of the Sims. Mqs were a breeze for me but Sims were really tough. I had 3 drs, 1 easy research, 2 enhanced Sims, and 2 regular Sims. It took a lot of time to go through all the documents on drs and enhanced Sims. Split screen didn't really helped me that much because it was still hard to read.
Another thing I can suggest is use your time wisely. You never know what you're going to get in a testlet so it is important that you alot enough time for each. Do not rush MCQs too much because it is after all 50% of your score so you would want to score as high as possible on that in case you have an issue answering your Sims which could be brutal. This is how I alotted my time: finish testlet 1 by 3:10 remaining, testlet 2 at 2:40, testlet 3 at 2:00, testlet 4 at 1:00 and testlet 5 remaining your. You can also look at it as start 4 hrs testlet 1, start testlet 2 at 3:10, 3 at 2:40, 4 at 2:00, and 5 at 1:00. Also, I never used any breaks for any of my exams and I thought it was better because I was just completely in the zone.
These are my suggestions for sims: while in the Sims don't panic and be overwhelmed. If you know you are prepared then you know you can answer it. In a testlet, try to glance at what kind of Sims you have and try to tackle the easy ones first, then the enhanced sims, then drs which takes a long time. And once you picked the one to start with, very carefully read the instructions. Like if you have to enter only positive amounts, zero, etc. Also, keep in mind the check the box regulations where an entity can choose how to be treated for tax purposes. Example an LLC with a sole owner default taxed as a sole proprietorship but can choose to be taxed as a corporation while a two or more owners LLC default taxed as a partnership or can be taxed as a corporation. Also, there are a lot of noises in the questions, so you would need to determine what are the relevant information you need in order to answer the questions. Therefore, I suggest you read each questions first before reading the facts. This way you will have an idea of what information you need and what concepts to use. Moreover, use the spreadsheet so you can organize your thoughts. This should help you in strategically answering your questions.
If at any point you feel like you are panicking or getting overwhelmed, stop for a second and breathe deep… inhale… and as you exhale tell yourself I can do this! I will be a CPA! And stretch if you need too.
I hope this helps. Good luck to us! I hope we pass!
And just to give you a little background about myself, I am 37 year old mom of two boys, one of which is in preschool, I work part time and I graduated with my bachelor's back in 2001, and English is my second language. I have been fortunate enough to pass 3 of the 4 exams in one try (I hope this goes the same for REG), so I believe that if I can do it, you can do it too and so others who have different struggles than me and you. Just really need to have that drive and determination. Again, good luck!
“IN THE INFINITY OF LIFE, WHERE I AM, ALL IS PERFECT, WHOLE, AND COMPLETE. ALL IS WELL IN MY WORLD.” – You can heal your life by Louise L. Hay
AUD - 94
BEC - 86
FAR - 81
REG - 87
@maj1028
"In the infinity of life where I am, all is perfect, whole, and complete. All is well in my world." - Louise L. Hay
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