LB log - 20131207
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, 08 Dec 2013 at 12:59 AM (2293 Views)
Never forget.
I think I need to turn in early today rather than waiting for the usual Sunday ritual. Sleep felt good and was over too quickly today, and I've felt pretty tired most of today.
Yesterday I mentioned that I wanted to give an example of the current CPE material that I'm working with and how it's honestly somewhat bad, or at least there are some inaccuracies that I've already encountered. I think the simplest and most direct example is the following. Consider this exceprt from the ebook which is given for study and reference.
Got it? Now, let's go to question #19 of the examination which covers this material:Prizes & Awards - §74 & §274
Prizes won through a quiz show, lucky number drawing, beauty contest, etc. must be included in taxable income. In addition, employee cash awards or bonuses given by an employer for good work or suggestions must be included in income when received.
Prizes and awards in goods or services must be included in income at their fair market value.
What is the correct answer? On the basis of the quoted content, it would appear that the answer is D, right? Yet according to the CPE site, though, the correct answer was A. Let's ignore the quoted study book content and imagine the ramifications if A was indeed the correct answer (which it isn't, there's IRS material which proves that D is correct): An employer who wants to shelter income for the benefit of an employee can state that an item was acquired at a flea market or garage sale or the like and was purchased at a substantial discount, which would then be reported at that substantial discount price by the employee. Conversely, an employer who wants to shelter the business's own income can claim to spend an exorbitant amount on employee gifts, which would reduce the business net income and potentially leave the employee with a substantial tax imposition. I should take the time to send an email later to point this out once I'm done getting all five segments completed before the end of the year.Question 19
19. During the most recent tax year, Arnie received a new top-of-of-the-line fly fishing rod from employer as an award for his outstanding sales performance. Arnie learns he must include this prize in his gross income and, when he meets with his tax advisor, asks him how he would do this. His advisor should explain to him that the value of the fly fishing rod is included in gross income based on its:
Choose one answer. a. actual cost.
b. replacement value.
c. estimated value.
d. fair market value.
Songs. Today's session is not spectacular but was pleasant for me. Most sub-record plays weren't off by much outside of the usual opening wamup salvo, and even that wasn't as bad as yesterday. I find it both humorous and odd that I've only passed Dive one time out of all plays - I wonder if it was without Random?
Lunar Beat. Extra Mode. Double play. "@" denotes Random chart modifier. All songs are of highest difficulty type unless specified.
First line, by column; song title, EX score percentage and letter grade rank, EX score value and pass/fail, judgment readout (just great, great, good, bad poor), highest combo reached, note count of chart under Extra Mode, original note count of chart, percentage increase of Extra Mode notes over original note count, timestamp.
Second line, by column; pass count / play count, EX score percentage difference from record, EX score value difference from record, judgment readout difference from record (if current play is new record), highest combo reached difference from record (if current play is new record), timestamp of old record (if current play is new record).
Code:EX% & Rank EX.p/f pg.gr.gd.bd.pr combo nc onc %+nc date to the future @ 58.08 B 1573.F 562.449.268.27.99 0171 1354 2013-12-08T00:48:05:149Z 0/10 08.60- 0233- vanessa @ 30.24 E 1151.F 388.375.632.192.784 0030 1903 2013-12-08T00:50:26:401Z 0/8 02.54- 0097- im in love again yco @ 76.59 A 1345.P 528.289.49.4.19 0241 0878 2013-12-08T00:53:08:892Z 11/11 02.44- 0043- traces tracing you @ 47.43 C 1755.F 608.539.437.103.397 0074 1850 2013-12-08T00:56:11:595Z 0/8 02.43- 0090- dive into your heart @ 64.49 B 1397.F 516.365.162.8.83 0162 1083 2013-12-08T01:03:30:508Z 1/6 05.49- 0119- ancient blaze @ 49.53 C 2150.F 779.592.392.171.616 0078 2170 2013-12-08T01:06:46:636Z 0/5 04.28- 0186- naughty girl queens B @ 57.07 B 1654.F 602.450.188.45.308 0226 1449 2013-12-08T01:10:10:899Z 0/11 03.34- 0097- A @ 61.15 B 1721.F 650.421.206.59.215 0134 1407 2013-12-08T01:13:53:379Z 0/12 01.42- 0040- get on beat ws 150 @ 61.34 B 1325.P 477.371.189.7.57 0167 1080 1077 0 2013-12-08T01:17:52:132Z 5/6 00.70+ 0015+ 10-35+19-2+7- 0058+ 2013-11-14T00:51:22:650Z dripping blood @ 29.01 E 1634.F 537.560.846.361.1251 0037 2816 2013-12-08T01:22:02:029Z 0/5 00.26- 0015- make a difference H14 @ 58.01 B 1651.F 604.443.229.50.195 0106 1423 2013-12-08T01:27:26:235Z 0/1 00.56- 0016- 532nm @ 35.21 D 1312.F 469.374.492.222.802 0064 1863 2013-12-08T01:32:09:964Z 0/3 01.85- 0069- deadly drive @ 37.73 D 1505.F 519.467.552.176.666 0062 1994 1147 073.84 2013-12-08T01:37:36:924Z 0/10 01.58+ 0063+ 32+1-37-10-58+ 0002- 2013-08-10T00:16:04:900Z soldiers waltz @ 64.16 B 1758.F 682.394.174.38.209 0064 1370 0767 078.61 2013-12-08T01:47:18:188Z 0/10 00.08+ 0002+ 6+10-10+1+18+ 0060- 2012-04-15T02:18:00:503Z rise n beauty DD @ 38.82 D 1891.F 671.549.656.253.837 0062 2435 2013-12-08T01:51:47:315Z 0/10 00.32- 0016-