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REG Exam Prep

CPA Exam Prep
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This podcast offers an advanced, business-professional deep dive into the Regulation (REG) section of the CPA Exam, designed for experienced candidates who want to master the legal, ethical, and tax framework that governs professional accounting practice. Structured across 6 domains and 20 comprehensive episodes, the series covers every key concept tested on the REG exam, blending conceptual clarity, tax strategy, and simulation-style problem solving. Core Domains Covered: 1. Ethics, Professional Responsibilities, and Federal Tax Procedures — Understanding Circular 230, AICPA Code of Conduct, preparer penalties, and due diligence. 2. Business Law — Mastering contracts, negotiable instruments, agency, debtor-creditor relationships, bankruptcy, and Uniform Commercial Code (UCC) rules. 3. Federal Taxation of Property Transactions — Detailed coverage of basis, boot, gain/loss recognition, depreciation recapture, and like-kind exchanges. 4. Federal Taxation of Individuals — Comprehensive walkthrough of income inclusions/exclusions, deductions, credits, AMT, and tax computation strategy. 5. Federal Taxation of Entities — Full comparison of C Corporations, S Corporations, Partnerships, Estates, and Trusts, including formation, operation, and liquidation issues. 6. Tax Planning and Compliance — Real-world application of tax law to strategic decision-making, including entity selection, basis adjustments, and procedural compliance. Each episode integrates exam simulations (TBS), MCQ breakdowns, and realistic scenarios to strengthen recall and analytical reasoning. From entity taxation to ethics in practice, this series equips candidates to approach REG questions like a true professional — methodical, confident, and compliant. Perfect for CPA candidates who demand both technical mastery and practical insight, this series transforms regulatory complexity into clarity and control on exam day. Disclaimer: This podcast is narrated using AI-generated audio and is intended as an educational study tool to supplement formal CPA exam preparation. It is not a substitute for clinical judgment, institutional protocols, or direct guideline review.

  1. 11/09/2025 • SUBSCRIBERS ONLY

    Domain 4: Ep 11 - Filing Status, Gross Income, and Exclusions

    In this high-yield episode, we dive deep into Domain 4 of the REG exam, dissecting the most testable and deceptively complex areas of individual taxation. Designed for advanced CPA candidates, this session unpacks the nuances that separate a passing score from a top performer. We’ll cover: • The marital status and filing status traps that hinge on end-of-year rules and “considered unmarried” exceptions. • Head of Household and Qualifying Surviving Spouse distinctions that often trip up candidates. • Gross income inclusions and exclusions under §61 — with a sharp focus on fringe benefits, employer “gifts,” and life insurance proceeds under §101. • Dependency rules and how scholarships, support tests, and tie-breakers really work on exam day. • The tax treatment of scholarships, gifts, and inheritances, including the subtle differences between income and property transfers. • Advanced analysis of fringe benefits under §132 — from working condition fringes to de minimis benefits and employer-provided health coverage. • The evolution of alimony and child support pre- and post-TCJA, including the strict criteria for deductible vs. nondeductible payments and classic exam pitfalls. Expect precise language, statutory anchors, and real-world logic — the kind of reasoning you’ll need to navigate the REG multiple-choice and simulation questions with confidence. Tune in to reinforce your mastery of Domain 4 and gain the clarity to outthink the exam.

    43 min

  2. 11/09/2025 • SUBSCRIBERS ONLY

    Domain 4: Ep 12 - Adjustments, Deductions, and Credits

    In this advanced REG episode, we dive deep into the technical structure of individual taxation — dissecting the precise mechanics that define how income becomes taxable and how strategic deductions and credits reduce liability. We’ll clarify the tax calculation hierarchy, starting with the difference between Above-the-Line (for AGI) adjustments and Below-the-Line (from AGI) deductions. You’ll learn how these layers interact to shape Adjusted Gross Income (AGI) — the key driver behind countless phase-outs, floors, and credit limits on the CPA Exam. Next, we break down the most heavily tested itemized deductions, including: • The medical expense 7.5% AGI floor • The SALT cap and its exam implications • Home mortgage interest limits and charitable contribution thresholds We’ll then transition into major tax credits — from the American Opportunity and Lifetime Learning Credits to the Child and Earned Income Credits — emphasizing calculation mechanics, eligibility rules, and AGI phase-out strategies. Finally, we’ll unpack the Alternative Minimum Tax (AMT): how it’s computed, why it exists, and the classic AMT triggers that appear repeatedly in REG simulations and multiple-choice questions. This episode is designed for advanced CPA candidates aiming to master the conceptual depth, sequencing logic, and technical precision required to dominate the REG portion of the CPA Exam. Tune in to reinforce your command of Adjustments, Deductions, and Credits — the backbone of individual tax mastery.

    43 min

  3. 11/09/2025 • SUBSCRIBERS ONLY

    Domain 4: Ep 13 - Self-Employment and Retirement Taxation

    In this advanced REG episode, we take a deep dive into the taxation of self-employment and retirement income, unpacking the technical calculations, classifications, and traps that frequently appear on the CPA Exam. We’ll begin with the mechanics of Self-Employment (SE) tax, identifying what types of income are subject to it, how to calculate the 92.35% net earnings base, and how the above-the-line deduction for one-half of SE tax affects Adjusted Gross Income (AGI). You’ll learn how entity type and classification—sole proprietor, partner, or S corp shareholder—directly impact self-employment exposure. Next, we move into retirement plan taxation, comparing contribution rules and deductibility for Traditional IRAs, Roth IRAs, SEP IRAs, and SIMPLE IRAs. We’ll also walk through the taxation of distributions, basis recovery, and the 10% early withdrawal penalty exceptions most commonly tested on REG. Finally, we’ll cover two overlay taxes targeting high-income earners: • The Net Investment Income Tax (NIIT) – what qualifies as investment income, how MAGI triggers apply, and which income types are excluded. • The Additional Medicare Tax – the 0.9% surtax on high-wage and self-employment income, and how it interacts with employer withholding and return-level thresholds. This episode equips you with the technical precision and exam reasoning to confidently handle REG simulations on self-employment, retirement planning, and high-income surtaxes. Tune in to master one of the most calculation-heavy and conceptual sections of the REG exam.

    46 min

  4. 11/09/2025 • SUBSCRIBERS ONLY

    Domain 4: Ep 14 - Individual Tax Return Preparation & Practice Sims

    In this advanced REG episode, we merge technical taxation with simulation strategy—perfect for CPA candidates ready to master high-stakes calculation items on the exam. We start by breaking down the mechanics of Self-Employment (SE) tax, explaining what income is subject to it, how to compute the 92.35% base, and how the ½ SE tax deduction integrates into Adjusted Gross Income (AGI). Next, we navigate the complex world of retirement plan taxation—covering contribution and distribution rules for Traditional IRAs, Roth IRAs, SEP IRAs, and SIMPLE IRAs—while dissecting how deductibility, early withdrawal penalties, and basis tracking appear in REG simulations. We then elevate the discussion to high-income surtaxes, detailing how the Net Investment Income Tax (NIIT) and the Additional Medicare Tax overlay standard tax liability. You’ll learn how earned versus investment income interact, how MAGI thresholds trigger additional taxes, and how these layers are tested conceptually and computationally. Finally, we connect all these components through a Form 1040 workflow, showing how to move top-down from income to credits with speed and accuracy while avoiding common REG pitfalls like “wrong-lane” deductions and AGI misclassifications. This episode is designed to build your technical precision, tax fluency, and timing discipline for complex individual tax simulations on the REG CPA Exam. Tune in to transform self-employment and high-income tax rules from confusing to instinctive.

    43 min

  5. 11/09/2025 • SUBSCRIBERS ONLY

    Domain 5: Ep 15 - C-Corporations and Corporate Taxation

    In this advanced episode, we bring together the most complex and high-yield topics from the Regulation (REG) CPA Exam—bridging individual and corporate tax rules into one cohesive, exam-focused strategy session. We begin with an in-depth review of individual taxation, including the calculation of Self-Employment (SE) tax, deductibility of retirement plan contributions, and how high-income surtaxes—like the Net Investment Income Tax (NIIT) and Additional Medicare Tax—interact with AGI thresholds and filing status. From there, we shift to corporate taxation, unpacking the mechanics of C corporation formation under §351, basis rules, and the treatment of boot and liabilities. You’ll learn how to compute corporate taxable income, apply key deductions and credits, and navigate advanced corporate-specific concepts such as the Dividends Received Deduction (DRD) and modern Net Operating Loss (NOL) carryforward rules. Throughout the episode, we spotlight common REG exam traps, ordering rules, and simulation workflows—teaching you how to move through full tax computations methodically, avoid “wrong-lane” classification errors, and maintain speed under time pressure. Whether you’re tackling individual or corporate taxation, this episode delivers the technical precision and test-day strategy you need to dominate the CPA REG exam. Tune in for the advanced breakdown that turns complex tax mechanics into clear, repeatable logic.

    51 min

  6. 11/09/2025 • SUBSCRIBERS ONLY

    Domain 5: Ep 16 - Corporate Distributions, Liquidations & Reorganizations

    In this advanced REG episode, we explore one of the most nuanced and calculation-heavy areas of taxation — trusts, estates, and exempt organizations. Designed for CPA candidates aiming for mastery, this session breaks down entity classification, income allocation, and compliance rules with precision. We begin with trust classification, distinguishing between grantor, simple, and complex trusts, and explaining how these distinctions determine who bears the income tax liability — the trust, the beneficiaries, or the grantor. From there, we dive into the mechanics of Distributable Net Income (DNI), showing how it functions as the cap for both the distribution deduction and the amount taxable to beneficiaries under Subchapter J. Next, we turn to estate taxation, highlighting key differences from trusts, such as fiscal year flexibility and income accumulation rules. We then transition to exempt organizations, covering the criteria for maintaining tax-exempt status, the taxation of Unrelated Business Income (UBI) through UBIT, and essential filing requirements like the Form 990 series and Form 1041. Throughout the episode, we emphasize REG-level strategy — from identifying the correct taxpayer to applying the DNI limitation and distinguishing related versus unrelated income in exempt entity scenarios. Tune in to solidify your understanding of fiduciary and exempt entity taxation — a high-yield, precision-driven topic that separates competent candidates from top performers on the CPA REG exam.

    53 min

  7. 11/09/2025 • SUBSCRIBERS ONLY

    Domain 5: Ep 17 - Partnerships and S-Corporations

    In this advanced REG episode, we tackle one of the most technically demanding areas of federal taxation — pass-through entity rules for Partnerships and S Corporations. This episode is built for experienced CPA candidates who need to go beyond memorization and master entity-level reasoning, basis mechanics, and exam-level application. We begin with Partnership taxation, unpacking the fundamentals of entity formation, inside versus outside basis, and the implications of debt allocation for basis purposes. You’ll learn how to compute and adjust a partner’s basis step-by-step, interpret the difference between guaranteed payments and distributive shares, and understand how §754 elections align inside and outside basis during ownership changes or distributions. Next, we shift to S Corporations, highlighting their eligibility requirements, election rules, and critical differences from partnerships — including stock basis limits, treatment of shareholder debt, and wage vs. distribution classifications. We also explore the Built-In Gains (BIG) tax, explaining why it applies, how it’s calculated, and when it triggers post-conversion from C corporation status. Throughout the episode, we emphasize exam traps and integration points, showing you how to contrast these two entity types under pressure, identify the correct taxation layers, and avoid common REG pitfalls around pass-through adjustments and loss limitations. Tune in to sharpen your command of partnership and S corporation taxation — the core of entity-level reasoning on the CPA REG Exam.

    46 min

  8. 11/09/2025 • SUBSCRIBERS ONLY

    Domain 5: Ep 18 - Trusts, Estates, and Exempt Organizations

    In this advanced REG episode, we explore one of the most nuanced and calculation-heavy areas of taxation — trusts, estates, and exempt organizations. Designed for CPA candidates aiming for mastery, this session breaks down entity classification, income allocation, and compliance rules with precision. We begin with trust classification, distinguishing between grantor, simple, and complex trusts, and explaining how these distinctions determine who bears the income tax liability — the trust, the beneficiaries, or the grantor. From there, we dive into the mechanics of Distributable Net Income (DNI), showing how it functions as the cap for both the distribution deduction and the amount taxable to beneficiaries under Subchapter J. Next, we turn to estate taxation, highlighting key differences from trusts, such as fiscal year flexibility and income accumulation rules. We then transition to exempt organizations, covering the criteria for maintaining tax-exempt status, the taxation of Unrelated Business Income (UBI) through UBIT, and essential filing requirements like the Form 990 series and Form 1041. Throughout the episode, we emphasize REG-level strategy — from identifying the correct taxpayer to applying the DNI limitation and distinguishing related versus unrelated income in exempt entity scenarios. Tune in to solidify your understanding of fiduciary and exempt entity taxation — a high-yield, precision-driven topic that separates competent candidates from top performers on the CPA REG exam.

    58 min
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About

This podcast offers an advanced, business-professional deep dive into the Regulation (REG) section of the CPA Exam, designed for experienced candidates who want to master the legal, ethical, and tax framework that governs professional accounting practice. Structured across 6 domains and 20 comprehensive episodes, the series covers every key concept tested on the REG exam, blending conceptual clarity, tax strategy, and simulation-style problem solving. Core Domains Covered: 1. Ethics, Professional Responsibilities, and Federal Tax Procedures — Understanding Circular 230, AICPA Code of Conduct, preparer penalties, and due diligence. 2. Business Law — Mastering contracts, negotiable instruments, agency, debtor-creditor relationships, bankruptcy, and Uniform Commercial Code (UCC) rules. 3. Federal Taxation of Property Transactions — Detailed coverage of basis, boot, gain/loss recognition, depreciation recapture, and like-kind exchanges. 4. Federal Taxation of Individuals — Comprehensive walkthrough of income inclusions/exclusions, deductions, credits, AMT, and tax computation strategy. 5. Federal Taxation of Entities — Full comparison of C Corporations, S Corporations, Partnerships, Estates, and Trusts, including formation, operation, and liquidation issues. 6. Tax Planning and Compliance — Real-world application of tax law to strategic decision-making, including entity selection, basis adjustments, and procedural compliance. Each episode integrates exam simulations (TBS), MCQ breakdowns, and realistic scenarios to strengthen recall and analytical reasoning. From entity taxation to ethics in practice, this series equips candidates to approach REG questions like a true professional — methodical, confident, and compliant. Perfect for CPA candidates who demand both technical mastery and practical insight, this series transforms regulatory complexity into clarity and control on exam day. Disclaimer: This podcast is narrated using AI-generated audio and is intended as an educational study tool to supplement formal CPA exam preparation. It is not a substitute for clinical judgment, institutional protocols, or direct guideline review.

Information

  • Channel
    CPA Exam Prep
  • Creator
    Bunch
  • Years Active
    2K
  • Episodes
    20
  • Provider
    Maren Bunch

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