taxes studying, whole

cfalevel2011

how are you studying the whole taxes section? i have such a hard time with this :-(((

lcai

Honestly there is no quick fix. Gotta put the time to memorize. To keep it simple though there is 3 main sections


1) Know the calculations for normal situation, tax deferred and tax deferred with different cost base and tax exempt

2) Know the 3 ways to calculate taxes (credit, exemption, deduction)

3) Know the difference between Tax Free Gift, a Beqest the donor pays and bequest the recipiant pays

.

liangfeng

KNOW WHAT YOU ARE DOING. I can't stress this enough on the tax formulas.

They are very simple if you think about them logically.

ohai

and none have been asked in prior exams (2008 - 10), so I may punt as well.

although i think core capital/excess capital is new this year so that might be worth knowing

pennyless

^ Mcap taxes was moved to LIII from LII in 2010.

canadiananalyst

Paraguay is 100% correct. Memorizing is not the answer and will likely cost you more brain cells. Think about what you are trying to accomplished and when the tax will be applied.

mar350

I have a good feeling tax will be in the afternoon.

Also knowing the tax formulas and information helps considerably on the IPS return requirement calculations.

cityboy

Everyone that is punting this one please make sure to show up for the exam. The rest of us would enjoy the help.

aidebaobao

I memorize all the tax formulas, what a waste of time. There are more important things to know, like the 6 techniques to evaluate emerging markets.

NO EXCUSES

mik82

I could've used those 2-3 hours and nailed GIPS or Equity, 2 sections I'm still not comfortable with. No point in @#$%& now, I know. I'm just gonna move forward.

If it shows up in an item set, it's only worth 3 points. Given the nature of the material, I doubt it would show up in the morning.

NO EXCUSES