Rapid-Fire Accounting News for Busy CPA Candidates See More: Accounting News 1. Some States Could Tax Student Loan Forgiveness Kiplinger: “You won’t pay federal income taxes on canceled student loan debt through 2025, but there are some states that could potentially tax your student loan forgiveness.” 2. AICPA recommends changing cryptoasset question on Form 1040 Journal of Accountancy: “The AICPA submitted comments and recommendations to the IRS Monday regarding further guidance on the tax treatment of cryptoassets and the question about them that individual income tax returns now carry.” 3 ..read more

Rapid-Fire Accounting News for Busy CPA Candidates 1. Batgirl Cancellation: Sunk Costs, Tax Writeoff Implications, and Brand Protection FEE: “Why cancel a movie that you’ve already spent $90 million on? After spending so much, why not try to make back that money? Without realizing it, many who argued the movie should be released did so by invoking one of the most common economic fallacies.” 2. Only $3 Billion of the $80 Billion allocated to the IRS in the Inflation Reduction Act will go to Taxpayer Services The Tax Advisor: “The act directs the largest portion, $46 billion, of its total of app ..read more

This CPA Exam podcast covers: July 2022 CPA Exam changes Erin (DOJO) Currently I am hammering out MCQs. I did poorly on the SIMS but did not feel like any of the practice SIMS I did with (CPA Review course) set me up to succeed. Gary (DOJO) I took auditing 5 times 68,70,71,74,71. I am losing my mind. I do not know what I am doing wrong. I think the simulations are the issue and tricky mcq. Of the four sections in the audit exam, I tend to do better on parts 1 and 4. Part 2 and 3 I will try to buckle down some more. It is a hit or miss for me. (NINJA Only, Becker + NINJA, Gleim + NINJA) Thuy ..read more

This CPA Exam Study Tips video covers How to recover from a 30 on the CPA Exam How to study with Becker CPA Review and NINJA Why re-studying in 4 weeks is a bad idea See More ➤ CPA Exam Study Tips Have a CPA Exam Study Question? Need Study Tips to Keep Moving Forward? Frustrated, Ready to Quit, and need to Vent? Burned Out and Need Motivation? Ask me anything. I've seen it all. ? “Few people are more familiar with the stresses of exam prep than Jeff Elliott, licensed CPA and the face behind Another71.com.” – Wiley First Name* Email* Message* Please tell us about your CPA Exa ..read more

Ah, much better CPA news in a minute. I'm Jeff Elliott, CPA. According to NASBA, Prometric testing centers will no longer require masks to take the CPA exam effective May 1st, 2022, except for instances where local governments or building management still require it. Now I will not opine on the effectiveness of masks in the first place because I am not a doctor, and I cannot read statistics. Hello. I will say that the debate as to which era of the CPA candidate had it worse was the paper and pencil crowd, where I had to sit in a room for three days and score 50 and condition. And, you kids the ..read more

Starting things off with Krishma. Jeff, I'm studying for my third FAR attempt. My previous scores were 70 and 68. I'm planning to take my exam three weeks from now. Please tell me how I should start and what I should focus on. If your exam is three weeks from now and you're just starting and you're just starting FAR, unless you are studying full time, then you really need to probably push it back. But let's assume that you had a full. Plan. So with the 70 and 68, you're getting there, but there's a significant hole in your steady game. And so essentially you need to follow the NINJA study fra ..read more

Per NASBA via r/CPA: Effective May 1, 2022, Prometric will no longer require candidates or test center personnel to wear masks unless required to do so by building management or local government mandates. In light of recent trends and mask mandate changes around the world, along with updated guidance from leading world health organizations, Prometric will not require masks to be worn in test centers, however they will continue to allow and encourage the wearing of masks regardless of mandate or vaccination status. Thus, any candidate or staff membe ..read more

This AUD CPA Exam tutoring video covers Accounting and Review Services (SSARS) & Financial Preparation Engagements. If you or someone you know is struggling with a CPA Exam topic, let me know, and I'll move it up the queue. Want more Sparring? Check out these free CPA Tutoring videos. To Your Success, Jeff Elliott, CPA (KS) NINJA CPA Review The post AUD CPA Exam Tutoring | SSARS (Financial Preparation Engagements) appeared first on Another71.com ..read more

This NINJA CPA Sparring video covers FAR – Business Combinations & Consolidations. If you or someone you know is struggling with a FAR CPA Exam topic, let me know, and I'll move it up the queue. Want more Sparring? Check out these free CPA Tutoring videos. To Your Success, Jeff Elliott, CPA (KS) NINJA CPA Review The post FAR CPA Exam Tutoring | Accounting for Consolidations appeared first on Another71.com ..read more

This CPA tutoring video covers BEC – Time Value of Money (Future Value of Money & Present Value of Money). If you or someone you know is struggling with a CPA Exam topic, let me know, and I'll move it up the queue. Want more Sparring? Check out these free CPA Tutoring videos. To Your Success, Jeff Elliott, CPA (KS) NINJA CPA Review The post BEC CPA Exam Tutoring | Financial Management (Time Value of Money) appeared first on Another71.com ..read more