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Resources for Accountants

Recovering from a 30 on the CPA Exam | Another71 Podcast #101 [Video]

Recovering from a 30 on the CPA Exam | Another71 Podcast #101

In this CPA podcast, we cover what do to if you score super-low on the CPA Exam (like a 30) and how to turn things around quickly & much more including live CPA study questions.
See More ➤ https://www.another71.com/cpa-exam/podcasts/

Questions:

1. I am studying for my FAR third attempt. My previous scores were 70 & 68. I am planning to take my exam three weeks from now. Please tell me how should I start and what should I focus on? – Krishma

2. What is the best way to pass FAR in the next couple of weeks? My test is coming up and I am absolutely struggling even when following the 4-week accelerated plan. I failed my first exam with a 30 and it dropped by confidence like a rock. – Brian (Becker and NINJA)

3. Hello, I recently failed FAR with a 64 and am trying to pick myself back up after this. I just purchased your materials and am just wondering where to even begin? Which aspects of NINJA would you believe would be the most helpful for me? I do not understand how to proceed after failing FAR. – Sarah (Becker and NINJA)

4. Jeff, what’s the best advice/top 3 things to know for the FAR exam? My MC is trending up but sadly still below 50 percent. I feel like I know it better than that. Think I just blew it in the evaluation phase. – Dylan (NINJA Only)

5. Eric (DOJO) Hi All, I scheduled Audit exam in 22 days. I Passed FAR and REG already, but I pretty much know nothing about AUD. Need advice on how to prepare it in like 3 weeks, thanks!

6. Justin (DOJO) Does anyone know if CPA Exam Continuous testing is staying for 2022? From my understanding, it was only a policy in place because of covid but I haven’t seen/heard anything that it’s going away. If anyone has any info on this that’d be great! Thanks!

“Continuous testing has been a goal for some time, and it comes in direct response to feedback from CPA Exam candidates and their desire to test more frequently throughout the year. NASBA is proud to work in collaboration with the AICPA, Prometric, and the 55 U.S. Boards of Accountancy to continue to ensure the security of the Exam and to implement a successful transition,”

7. Katheryn (DOJO) Hi Jeff, can you recommend a timeline for getting FAR passed in approx. five weeks (rather than the seven or eight that you suggest)? (NINJA Only)

(and many more live CPA study questions)

CPA Forum ➤ https://forum.another71.com/

Free Notes ➤ https://www.another71.com/lp/free-downloads/

Study Planner ➤ https://www.ninjacpareview.com/get-your-study-framework/

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Resources for Accountants

Inspiring Short Stories | Seeking Happiness | Motivational & Inspirational Video [Video]

Seeking Happiness. Inspiring short stories. Motivational & inspirational video. Best short inspirational videos. Inspirational quotes about life and love.The motivational stories and famous anecdotes presented in this video are excerpts from our book: Top 100 motivational stories: the best inspirational short stories and anecdotes of all time. Get the book here: https://www.bizmove.com/inspiration/m9b.htm

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Resources for Accountants

Tax Rules for S Corporations in the US [Video]

This video provides an overview of the tax rules for S corporations in the United States. An S corporation is a business entity type that provides the limited liability of a corporation but is taxed as a flow-through entity (no double taxation like C corporations). Profits (or losses) of the S corporation flow through to shareholders and are taxed at the shareholder (but not corporate) level. An S corporation must be organized in a U.S. state. After creating a corporation, shareholders must file Form 2553 with the IRS to elect for the company to be treated as an S corporation. Not all corporations be an S corporation, and there are requirements based on the type of corporation, the number of shareholders, and types of shareholders. Income and deductions of an S corporation are allocated to an S corporation on a pro rata basis. In contrast to partnerships, special allocations (non pro rata) are not allowed. Distributions to shareholders are generally nontaxable to the extent the shareholder has basis, although distributions can be taxable if they exceed the shareholder's basis or if the distributions pertain to earnings and profits (E&P) accumulated by the corporation prior to its election to become an S corporation. A shareholder's basis is increased by capital contributions, share purchases, and the shareholder's pro rata share of income items, while the shareholder's basis is decreased by nontaxable distributions to the shareholder and the shareholder's pro rata share of deductions and losses (although the shareholder's basis can never go below zero). In contrast to partnerships, a shareholder's basis is not increased when the S corporation borrows money (unless the shareholder loans money to the S corporation). While S corporations are flow-through entities and are thus not subject to income tax, S corporations may be subject to taxes in certain situations. 0:00 Overview 0:33 What is an S corporation? 2:51 How to create an S corporation 3:40 Requirements to be an S corporation 8:01 Allocating income and deductions 11:19 Tax consequences of distributions 14:53 Calculating a shareholder's basis 17:13 Taxes on S corporations — Edspira is the creation of Michael McLaughlin, an award-winning professor who went from teenage homelessness to a PhD. Edspira’s mission is to make a high-quality business education freely available to the world. — SUBSCRIBE FOR A FREE 53-PAGE GUIDE TO THE FINANCIAL STATEMENTS, PLUS: • A 23-PAGE GUIDE TO MANAGERIAL ACCOUNTING • A 44-PAGE GUIDE TO U.S. TAXATION • A 75-PAGE GUIDE TO FINANCIAL STATEMENT ANALYSIS • MANY MORE FREE PDF GUIDES AND SPREADSHEETS * http://eepurl.com/dIaa5z — SUPPORT EDSPIRA ON PATREON *https://www.patreon.com/prof_mclaughlin — GET CERTIFIED IN FINANCIAL STATEMENT ANALYSIS, IFRS 16, AND ASSET-LIABILITY MANAGEMENT * https://edspira.thinkific.com — LISTEN TO THE SCHEME PODCAST * Apple Podcasts: https://podcasts.apple.com/us/podcast/scheme/id1522352725 * Spotify: https://open.spotify.com/show/4WaNTqVFxISHlgcSWNT1kc * Website: https://www.edspira.com/podcast-2/ — GET TAX TIPS ON TIKTOK * https://www.tiktok.com/@prof_mclaughlin — ACCESS INDEX OF VIDEOS * https://www.edspira.com/index — CONNECT WITH EDSPIRA * Facebook: https://www.facebook.com/Edspira * Instagram: https://www.instagram.com/edspiradotcom * LinkedIn: https://www.linkedin.com/company/edspira — CONNECT WITH MICHAEL * Twitter: https://www.twitter.com/Prof_McLaughlin * LinkedIn: https://www.linkedin.com/in/prof-michael-mclaughlin — ABOUT EDSPIRA AND ITS CREATOR * https://www.edspira.com/about/ * https://michaelmclaughlin.com

Categories
Resources for Accountants

How to Start an Indian Restaurant Business [Video]

Discover the top 10 Tips to Starting an Indian Restaurant Business. Essential Tips for business startup success. Now you can get your free business plan template gift here: https://www.bizmove.com/business-gifts.htm - This is a high quality, full blown business plan template complete with detailed instructions and all the related spreadsheets. Allows you to easily prepare a professional business plan for your new business Also get free small business guides, tools, and worksheets at: https://www.bizmove.com