Chapter 6 – Other Entity Taxation and Federal Tax Authority

We hope your studying is going well. We realize that there is a significant amount of material and you may be feeling overwhelmed at this point. Hopefully, you are also growing in confidence as you see your success on the previous chapters! 

Remember to take it step-by-step. Work the hardest you can each day and understand that this is a significant sacrifice that will absolutely be worth it. You will feel incredible when you pass regulation (and even more incredible when you pass all four sections of the CPA exam) and can put this experience behind you. Then, you will be a CPA for the rest of your life and we can tell you, unequivocally, that the CPA will pay significant dividends for you in the future. Also, there is a lot to learn as a person from working through something that is really difficult, putting in the hard work, and succeeding! You are on your way!

Now to Chapter 6. BOOST has spent a significant amount of time emphasizing the importance of the material in Chapters 3 to 5 of BOOST. Although this is correct, please do not significantly downplay the importance of the material in the remaining chapters of BOOST. More specifically, although these topics are easier than the material in Chapters 3 to 5, you will see a significant number of multiple choice and one or so simulations on your actual CPA exam on this material. So, please take it seriously and understand/comprehend these important concepts. As is the case for the entire BOOST program, the outlines for these chapters have focused on the most important concepts/rules that you need to know. Please take advantage of these concise notes and learn/remember all of the critical rules in Chapters 6 to 9 of BOOST.

As we keep saying, please don't rush through this material and take your time to understand it. Remember, an additional week of studying (if needed) will be well worth it if the additional time is the difference between passing and failing the regulation section of the CPA exam!

Also, when you are close to completing Chapter 6 of BOOST, you should take a practice test (with only multiple choice) for the content noted on page one or two of the document with content comparisons of BOOST and Becker, Roger, or Wiley CPAexcel. This practice test will help you determine how much of the BOOST information you have retained and how well you have integrated the various topics. You should review your notes (which are a subsection of the BOOST outlines) periodically during the week to keep this information fresh in your mind. 

Good luck as you begin your studies of Chapter 6! Some of the page numbers in the videos are not the same as the page numbers in the BOOST textbook. Please use the page numbers in the BOOST textbook.

Remember, please contact BOOST CPA Review by email if you have any questions as you work through Chapter 6.

AFTER WATCHING EACH VIDEO BELOW, please complete the appropriate multiple choice and simulations related to each of these videos. Please refer to the document with content comparisons of BOOST and Becker, Roger, or Wiley CPAexcel to determine which multiple choice and simulations to complete.

Here are the five videos for Chapter 6 of BOOST: