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米国公認会計士の受験に始まり、転職、そして組織に依存しない働きかたを求めて疾走中!

2015年02月

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昨日、2月27日、REGの受験に行ってまいりました~。とは言っても、今回はとんでもなく仕事が忙しく、受験をとりやめようかとも考えていたのです。。。確定申告、2月の月次、それから新しい仕事の引き継ぎ、ERPプロジェクトの問題解決。。。。といろいろ重なりどうなるかと思いました 昨年もそうでしたが、2月は要注意 

10日ほど前から勉強時間ゼロ、しかも試験前日の仕事が終わったのが朝方の3時、2時間睡眠で試験に臨みましたが頭はボケボケ、フラフラ状態でした 御茶ノ水に着くまでの電車では仕事の対応メールのやりとり、結局勉強ゼロで望んだわけです。そしてあの受験料、650ドル(NTS $172.51, Application fee $150.00, International fee $327.49)が終わったのでした でも、こんな状態でも受験するなんて、恐るべしお金の力

そんな中でも 落ち着いて今回の受験の印象を思い出してみました

 Business law の問題が多かった
 計算問題が極端に少ない
 Simulation は課税所得をひたすら問う問題が多かった
 S Corporation と Partnership の課税関係の違いを問う問題

こんな感じでしょうか。ただ、これが最近の問題傾向なのではなく、私のこれまでの受験に出題されていなかった細かい論点を問われた気がしています。なので、出題問題としては一通り網羅されたのかなと感じました。 

そして結果としてこの受験から得たものは以下の通り;
 全体を網羅してWeaker論点を作らないこと
 論点が自分の中で自然に受け入れられる程度までやり込む
 全体像が見えていて今自分がどの部分をやっているのか把握できること

時間配分については、REGの場合問題数が少ないので、30分×3 testlet, simulation90分を守るのは難しくないかと思います。

そして今日は2週間ぶりのお休み ハード過ぎて心が折れそうなときがしばしばありましたが、忙しいからこそ、お休みがありがたいし、自分の時間がとっても充実する と感じましたよ  今日は私の大好きなことをしてゆっくり過ごそうと思います。またとんでもなくやる気のでるときまでじっくりね 


最悪なコンディションでの受験、どれだけ点数がとれるのか、きっとこれが自分の「素」の学力なのだなって思います そう考えると、ある意味結果が楽しみですね~

Q1受験のかた、お疲れ様でした~ またがんばりましょ

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NASBAにログインしないとPWが失効するので今日は久しぶりにログインしてみた。で、試験の状況を眺めてみました。

CPA Exam status
 
まあ、ここまできたらさらけ出しても大したことではないのですが、AUDの失効に続き、FARまで今月末には失効は辛いですね。。。

FARとAUDをやっていた頃は、週2-3日仕事にいって、しかも3時ー4時に帰れるという悠々な生活でした。だから、1日5時間勉強もできていたのですね~。しかも、その頃はあまり人付き合いもなく、子供と2人の生活を普通だと思いつつ頑張れていたのです。

FAR受験後は現在の会社に転職が決まり、途端に忙しい生活になってしまったのでした。転職後、REGとBECを始めたのですが、一番しんどかったのは、REGがなかなか頭に入らず、結局68ポイント止まり  そろそろ、とは思いますが、やる気が出たら一気にいこうかなって思ってます。。そのうちにね 

本当に、いつもそうですが、後になっていろんなありがたみってわかるのですよね~。。いくつになってもね

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試験直前というのにとうとうここ数日は勉強時間数分、ということになるほどお仕事が終わらないです 

土日もなく、一人オフィスで、音楽を聞きながら10時間は集中してたかな。。。これが勉強だったらものすごく捗ったのに、って思いました~ 

で、こんなエンドレスな仕事をしていると、勉強しなきゃ、って焦るんです。。でも仕事は終わらないし、結局どちらも中途半端。そして、そんな毎日を過ごしていると、いったい私は何のために生きているのだろうか となってしまうのですね 気づけば食べることが唯一の楽しみに なっているし、楽しくもなんともないですっ そして不満が募り、心が歪んで、何もかもやる気にならないんですね

こんな毎日だったのですが、少し前から、どうしようかな。。。って考えていました。で、仕事も勉強も頑張ればなんとかなる って思っていたのが以前のわたしですが、「頑張ることが自分をダメにしている」って思ったのです。あ、これ、逃げ?って思われるかもしれないですが 結果のでないことを中途半端に延々とやり続けるような 「頑張り」って何??って今は疑問です。

いろんなことを犠牲にして、仕事したって、勉強したって、楽しくもなんともないんです。頭に何も入りませんし。しっかり短期間で合格して周りに恩返しできれば話はまた別ですが。

今までは、自分が楽しんで頑張れる仕事と勉強が自分の支えになっているって信じていたんです。そして気分が落ち込んだときこそ頑張って持ち直していかなきゃ!って思っていたのです。

でも、気分が落ち込んだときはそれを素直に受け入れて、全く違うことをしてみてもいいのかなって思うようになりました。気分が落ち込んでる時に無理矢理頑張るとそのことが嫌いになります。 仕事も勉強も楽しくできれば私は大好きです でも、無理をすることで好きなこと故に結果がでないと、そこから受けるダメージが大きいのですね

どんなときも頑張ってしまう、ちゃんとやらなきゃって思ってしまう私にとっては少々抵抗がありましたが、少しぐらい適当になって、知らない世界もたまにはいいかなって

そして「楽しいこと」を求めて少し生きてみようって思いました 

これまでは心が折れそうになっても、何があっても、仕事仕事仕事。。。勉強勉強勉強。。。早起き、カフェ勉強、イヤホンから聞こえるのは専門学校の講義、みたいな、誰が聴いても楽しくないことばかり。。。ストイックになるのは好きですが、もう、ちょっと疲れちゃった。自分の心とカラダに耳を傾けて、自然な気持ちに素直に反応してみるね

楽しいことをもとめて、非現実に自分を置くとか、これまでとは違う行動をとるとか、ここ数年とは路線変更してみま~す

 

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こんにちは。今日の関東、雪 のはずが、大きく外れて一日中雨でした。。 富士山の麓で育った私にとっては物足りない。。。というより淋しいです やっぱり冬は雪がドカンと降らないと穏やかな春が来ないような気がします 

今日は、私のWeakerであったIndividual taxation のまとめを載せます まとめというよりは、間違えたところを単に書いてみたといったところですが。 意地になってやったせいか、今はそんなに苦手意識はなくて、むしろ変化があって好きかもしれないです~ いろんな論点が絡むところは、頭の体操になって慣れると楽しいかもしれないですね

今日は長いですよ~ 何日かかけてまとめたものです。何度も何度も間違えたところは何度も登場するかもしれないですが、淡々と読んでみてください 

[INDIVIDUAL TAXATION]


■Forfeited interest penalty

Deduction from gross income in arriving at adjusted gross income (Adjustment)


■Capital loss

Up to $3,000 of a capital loss may offset other gross income, excess may be carried forward indefinitely


■Interest income

Interest on state government obligations is excluded from gross income

[Taxable on income tax return]

  • Interest on federal income tax refund

  • Interest on state income tax refund

  • Interest on federal government obligation


■Withdrew traditional IRA contiribution

Marginal tax rate + 10% addtional


IRA deduction - Age 50 or older

  • General: A qualifying employee with a deduction up to the lesser of $5,500 in 2014 or an amount equal to the compensation includible in the employee’s gross income for the taxable year.

  • Age 50 or older: This limitis increased by $1,000 for taxpayers who are at least age 50 at the end of the year.


■Employee moving expenses

Fully deductible for AGI (Adjustment)


■AMT add back items

  • Home equity loan interest unrelated to acquisition

  • Real estate taxes

  • State income taxes

  • Miscellaneous itemized deduction subject to 2% AGI threshold limitation


■AMT deductible

  • Miscellaneous itemized deduction Not subject to 2% AGI threshold limitation

  • Medical expenses (10% threshold)

  • Residence mortagage interest

  • Charitable contributions


■Adoption credit

Up to $12,970


■Self-employment income

Director of a corporation is included


■Charitable property contribution

  • ST - Lesser of Basis or FMV

  • LT- FMV

*Up to 30% of AGI  

* Charitable contributions are subject to the phase out of the amount of certain itemized deductions that may be claimed by high-income individuals


■Passive activity loss

Passive losse は当該 partnership interest などを売却するなどした時点でRealize するという前提なのでOrdinary income と相殺することができる

  • Limited partnership loss is PAL (passive activity loss)

  • Losses from rental real estate are PAL

・原則:$25,000までOrdinary income と相殺できる

・例外:AGI が$100,000を超えたら、その超えた分の50%分だけ相殺できる額が減少する


■Tax payments

$150,000 以上のTaxable income のある人は去年のTax liability の110%以上を支払う必要がある(Taxable income の110% ではない)



■Investment income

Investment income 10,000

Investment expenses (8,000)  non interest expense

-------------------------------------------------------------------

                                    2,000  ←この範囲でのみinvestment income をdeduction することができる


■Section 1244 - Qualified small business investment stock

Up to $50,000 / year までordinary loss として控除できる、残りはCapital loss として取り扱う


■Tuition payment - Gifts

“Payment made for family member” は関係ない


■IRA contribution

If neither married taxpayer is an active participant in an employer-sponsored plan, both are eligible to deduct (Adjustment) the full amount of their regular IRA contributions, regardless of income levels.

*Total IRA contributions for 2013 may be up to $5,500 for most taxpayers. Taxpayers who are at least age 50 by the end of the year may contribute an additional $1,000.

*If one spouse is covered by an employer pension plan, and their AGI is greater than the active participant phase-out limit, then the participating spouse’s deduction is disallowed.(どちらも充たした場合にはDeductionはできない)


■Personal residence

Married taxpayers generally may exclude up to $500,000 ($250,000 each person) of gain from the sale of a personal residence provided they occupied the home in two of the five previous years.


■Itemized deduction - Real property taxes

Local, state, and foreign real property taxes on a residence are deductible by the cash-basis taxpayer upon whom they are imposed in the year in which they were paid


■Itemized deduction - Unreimbursed education expenses

Employees are allowed to treat unreimbursed education expenses as a miscellaneous itemized deduction subject to the 2% of AGI limitaion. The education must be to maintain or improve a skill required in the individual’s employment or meets the express requirements of the employer or laws or regulations.


■Itemized deduction - Health insurance preiums

For tax years starting after 2012, qualified medical expenses are deductible on Schedule A subject to a 10% of AGI floor. Health insurance premiums are a qualified medical expense.


■Child care credit

A child care credit of between 20% and 30% of eligible expenses is available up to a maximum of $3,000 for one qualifying dependent



■Non taxable interest / dividend income

・Interest income on general obligation state and local government bonds are not taxable

・Dividend income from mutual funds that invest in tax-free government is not taxable


■Taxable interest income

・The interest income from a refund of federal taxes is an example of interest income which is taxable on Schedule B


■Sole proprietorship

A sole proprietorship is not a separate entity for tax purposes. Interest on a checking account used for a trade or business that is a sole proproetorship is reported on page 1 of Form 1040 as personal income


■Schedule B - Dividend, interest income

Interest income from a refund of federal taxes

Interest on U.S. Treasury bonds

Distribution made in lieu of money


■Schedule E - Passive income / expenses (Rental income / expenses)

Rental expenses include bank mortgate interest, real estate taxes, insurance, MACRS depreciation.

Income from Royalties, partnerships, S corporations, Estates and Trusts


■Home equity indebtedness

Home equity indebtedness is limited to $100,000 on a joint income tax return ($50,000 if MFS)


■Death benefit

As beneficiary of the death benefit provided by the decedent’s employer, should be included on page one of the beneficiary’s Form 1040


■Series EE bond interests

If the proceed is used for a non-dependent tuition, the income should be included in taxpayer’s gross income


■Medical expenses

The threshold for medical deductions for taxpayers age 64 and younger is 10%, rather than 7.5%


■Deductible losses

Section 165(c) allows an individual to deduct losses only on business property, investment property, and losses on personal use property from casualty or theft


■Tax payment

In order to avoid a penalty, taxpayers must pay the lesser of either 90% of the current year’s tax, or 100% of the prior year’s tax, unless AGI is more than $150,000. (AGI from $150,000 110% tax payment is required )


■Early withdrawals from IRA contribution

General: Withdrawals from IRA’s before the owners meet the age requirements are subject to regular income tax plus an early withdrawal penalty of 10%, without regard for the use of the money.


■Earned income credit is a refundable credit for low-income taxpayers who meet certain conditions


■Self-employment taxes

The portion of the self-employment taxes paid by an individual corresponding to an employer’s share is deducted on Form 1040 for AGI


■Casualty losses

A casualty loss must be due to a sudden, unexpected, or usual cause. Damage due to termites is not sudden


■Medical insurance premiums

Medical insurance premiums paid with after-tax dollars are qualified medical expenses


■Mortgage interest

Mortgage interest paid on rental property is not reported on Schedule A. Instead, it is reported on Schedule E.


■Qualified interest expense is deductible as an itemized deduction without a specific limitation based on AGI


■Medical expenses

Over-the-counter drugs are not deductible


■Filing status - Married with dependent child

The year of spous’s death: Married joint return

Year X1: Qualifying widow with dependent child

Year X2: Qualifying widow with dependent child

Year X3: Head of household


■Statute of limitation - Assessment by IRS

General: Three years from the later of the actual filing date or the due date


■Deductible moving expenses

“Cost of moving you (travel expenses, lodging expenses etc.)  and household goods” only!


■AMTI

Add back:

  • State and local taxes,

  • Other miscellaneous subject to 2% of AGI

  • Personal exemptions



Deductible:

Mortgage interest deducted on Schedule A

Traditional IRA account contribution

One-half of the self-employment tax deduction

Charitable contributions

Casualty and theft losses

Medical expenses must exceed 10% of AGI, not 7.5%


■Capital gain

Capital gain は$3,000 のcapital loss 以上に発生したらAGIに含まれる


■Interest on student loan

Interest on student loan はAdjustment で引く


■Adjustment elements ★

・Alimony paid

・Jury duty remitted

・Forfeited interest

・Moving expenses

・Education loan interest (Student loan interest)

・Medical saving accounts

・Self-employment taxes

・IRA contribution

・Keogh plan

・Self-employment health insurance

・Capital losses in excess of capital gains

・Trade or business expenses


Itemized deductions

  • Unreimbursed Business expenses (Subject to 2% of AGI floor)

  • Tax return preparation fees (Subject to 2% of AGI floor)

  • Charitable contributions (Qualified ATM)

  • Residence mortgage interest (Qualified AMT)

  • Medical expense using 7.5% or 10% AGI floor

  • Gambling losses to the extent of gambling winnings (Not subject to 2% AGI floor)

  • Real estate taxes (Not subject to 2% AGI floor)

  • Employee moving expenses (fully deductible for AGI)

  • Home equity indebtedness is limited to $100,000 on a joint income tax return (Home equity indebtedness may not exceed the taxpayer’s net equity in the qualified residence)



■Forfeiture penalty

Forfeiture penalty for early withdrewal paid in the next year before filing tax return of previous tax year is deductible from gross income in arriving at the year paid AGI


■Casualty losses

Reduce the casualty loss by $100 for each casualty


■Home loan interest deduction

$1,000,000 of home loan interest is deductible


■Education expense

Education expense to meet minimum entry level education requirements at an individual’s place of employment


■Distributable Net Income (DNI)

Up to DNI is deductible

eg) DNI: $15,000, paid $9,000 →$9,000 deductible


■Donation (Charitable contribution)

A charitable contribution deduction is not allowed for the value of services rendered to a charity


■Rental (Active) loss

General: Active participant によるRental loss は up to $25,000 deductible

Exception: AGI > $100,000 excess of the threshold x ½ が$25,000 から引かれる


■Like-kind exchange

Real property → Real property

Personal property → Personal property


■Section 1231 property

Depreciable personal property eg) machine, equipment use in business, real estate use in business) Held more than one year. Recapture などは一切考慮しない


■Passive losses★

If the taxpayer is active participant, up to $25,000 is deductible. Exception: more than $100,000 AGI, the ½ of excess amount should be reduces the threshold ($25,000)

Example) Partnership interests, Active participant’s rental income


■Section 1244 loss vs. Capital loss

Section 1244 loss (ordinary loss) と Capital loss が同時に発生した場合には両者は相殺することはできない。Section 1244 (Qualified small business stock) はあくまでordinary loss

Up to $50,000 / year deductible, excess of $50,000 should be treated as capital loss


■Suspended losses

eg) Passive losses: Any losses in excess of the at-risk amount are suspended and carried forward without expiration and are deductible against income in future years from that activity.


■DNI (Beneficiary)

Up to DNI, taxable

The excess of DNI, not taxable (return of capital)


■Statute of limitation - tax refunds

Filed tax returns: Three years

Not filed tax returns: Two years


■Installment sales

Gain is recognized partially that portion of money received.


■Earned income

Net self-employment income - (Deductible Keogh contribution + portion of the self-employment tax) = Earned income


■AMT preference (not included gross income)

・Section 57(a)(5)(A) treats interest on specified private activity bonds as a tax preference for purposes of the alternative minimum tax.


Not itemized deduction for AMT purposes

・State income taxes

・Mortgage interest unrelated to acquisition

・Real estate taxes


■Earned income tax credit (EIC)

To claim EITC, you cannot be “married filing separately”. Married taxpayers must file jointly to qualify for the earned income credit (EIC).


■Qualified relatives

[First four tests]

  • Gross income

  • Support

  • Joint return

  • Citizenship or residence

[Fifth test -relationship or member of household]

  • Cousin and Foster parent are excluded

*In-laws are not related parties


■Life insurance proceeds

Gross income does not include life insurance proceeds.


■Capital gain

There is no capital gain deduction for corporate or individual taxpayers.


■Business losses

A deduction is allowed for any debt which becomes totally worthless during the year. However, the deduction is allowed only with respect to debts that represent items which have been recognized previously as taxable income. A cash-basis taxpayer does not recognize income until payment is received. Since the fee was never recognized as income, no deduction is allowed when debt becomes worthless.


■Ad valorem tax

従価税:Itemized deduction

 

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 こんにちは。仕事に、勉強に、、、それから恋愛に、、、、私の場合は相手がいないので恋心 でしょうか どれもこれも、みごとに苦しいです 笑いそうなくらい。。。 。。。なので下らないこと考えてないで勉強しましょ

今日もひたすら間違えた、そして、間違えやすい箇所を黙々とまとめてみました

今日はAccountants' Ethics & responsibilities ですっ これ、一通り読みながら思ったのですが、 訴えを起こすとき、Negligence と Securities Act of 1933 は「感情的にならずに、事実だけを述べる」、それから、Securities Act of 1934 になると、ほんの少しだけ感情的になって「信じていたのに。。。」とか「わざと?」みたいなふうに証言していくのですね~ 

キーワードを太字にしました。過去問はそのまんま の問題が多いです是非是非ご参考にしていただければと思います


[Accountants’ Ethics & Responsibilities]


■Negligence

Negligence involves a breach of a duty of due care.

  • The client need not prove reliance in a negligence action against a CPA.

  • In a negligence action, a client must prove:

  1. a loss (injury)

  2. Caused (proximate cause)

  3. The wrongful acts of the defendant (breach of duty of care)


■Securities Act of 1933 - purchaser prove to CPA liable

  • Omitted or misstated a material fact (not necessary that the purchaser prove reliance or fraud)

  • It is not necessary that the purchaser prove reliance or fraud.


■Securities Act of 1934 - purchaser prove to CPA liable

Section 10(b) and Rule 10b-5 of the Securities Exchange  Act of 1934 impose liability on anyone (including a CPA) who intentionally ( or with reckless disregard) (lack of good faith and lack of knowledge)  makes an untrue statement of fact or omits a material fact in an SEC annual report. It is not necessary that hte stock purchaser prove negligence. An investor’s burden of proof includes reliance on the inaccurate statement.


■Constructive fraud - elements

  • Misrepresentation or omission of a material fact

  • Reckless disregard for the truth

  • Reasonable reliance by the injured party

  • Intent to rely

  • Injury


■Ultramares doctrine (ここだけはPrivityがキモになる)

In order to prevail in a suit under the Ultramares doctrine the third party must show privity of contract  when ordinary negligence took place. Under the Ultramares doctrine, liability extends to third parties only in case of fraud. Since, under common law, for privity of contract to exist a person must have a contractual relationship with the person sued.




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