Meg is a NINJA CPA Blogger.
Exemptions, deductions, phase out limits, below (above the line), credits, different types of bankruptcy … all of this stuff is so confusing!
I understood Latin class better than this. The more I study, the more confused I become. For instance, bankruptcy. There is a multitude of chapters of bankruptcy, and get this: you don’t have to be bankrupt to file bankruptcy.
One of the reasons I find Reg so confusing is I have never seen it before. Sure my transcripts show I took Income Tax and Advanced Tax Accounting. Do not remember, at all. Don’t remember the name of my instructor, don’t remember the study material, don’t even remember (pretending to) study for the exams.
At least the other exam material I cover in my day-to-day job (Auditing … Financial) or remember from the multitude of business courses I took in college (BEC). But this stuff? Ahh!
I can spend my time complaining about how hard it is or telling my friends how I’m at a disadvantage because I do not work in tax. But I need to get over it. Haven’t studied the material before and topics aren’t in your current job description? So what? Who cares? Certainly not NASBA!
So, I am trying to remain positive. I have listened to all of the lectures – (N)ail the Videos -and I have done (I)ntense notes. Now I am focusing on the (N)on-stop MCQs and will hopefully have enough time to (J)ust rewrite it. Praying that it will (A)LL COME TOGETHER!!
Well I’m off to refresh my brain on the material by rereading Jeff’s NINJA Notes. Till next we meet, lots of luck, and semper ubi sub ubi (“always wear underwear” in Latin).