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Federal Income Tax - 3L

Posted: Wed Aug 05, 2015 1:18 pm
by WolverineMachine
Will be doing transactional work, and wanted to know if Federal Income Tax was worth taking. I've heard it's valuable even though not always necessary. I'm also taking evidence pass/fail so my finals schedule would be light, and I'd like to maintain my GPA. Thoughts?

Re: Federal Income Tax - 3L

Posted: Thu Aug 06, 2015 1:21 pm
by sanjola
In a similar position, except I have a relatively heavy schedule. I heard Fed Tax requires a lot of work, so I'm tentative to take it.

Re: Federal Income Tax - 3L

Posted: Sun Aug 09, 2015 7:17 pm
by it'sjustme
sanjola wrote:In a similar position, except I have a relatively heavy schedule. I heard Fed Tax requires a lot of work, so I'm tentative to take it.
I wouldn't say "a lot." It's definitely manageable.

Re: Federal Income Tax - 3L

Posted: Sun Aug 09, 2015 7:41 pm
by CanadianWolf
Should be an easy course, although that could vary by professor. Why not read the Nutshell, or another brief outline, first & then decide ?
Also, as you know by now, whether or not a course is easy varies by the person.

Re: Federal Income Tax - 3L

Posted: Mon Aug 10, 2015 12:26 pm
by orangecup
Yeah, Fed Tax isn't a lot of work. The E&E is pretty on point, esp if you're using the Bankman textbook. Basis calculation can get tricky, but just put some examples in your OL that show you the steps, so you know how to solve it on the exams (assuming open book). I took it 3L year, got a B+, and relied exclusively on the E&E (i.e., basically put in no effort during the semester).

Re: Federal Income Tax - 3L

Posted: Mon Aug 10, 2015 12:35 pm
by sanjola
orangecup wrote:Yeah, Fed Tax isn't a lot of work. The E&E is pretty on point, esp if you're using the Bankman textbook. Basis calculation can get tricky, but just put some examples in your OL that show you the steps, so you know how to solve it on the exams (assuming open book). I took it 3L year, got a B+, and relied exclusively on the E&E (i.e., basically put in no effort during the semester).
Thanks for the advice. My prof highly suggested the Chirelstein supp. (and we aren't using the Bankman text) so I'm going to follow that. I know it's all relative, but nice to hear that the course isn't a monster.

Re: Federal Income Tax - 3L

Posted: Wed Aug 12, 2015 11:58 am
by xdeuceswild81xx
Obviously it's going to vary, but my experience in FIT was not bad. I read all the assignments/did the practice problems for each chapter and then put about 10-12 hours of studying in the 3 days before the final and got an A. IMO, FIT isn't too challenging if you're good at math and willing to put in the time. My friends who didn't do well either 1. weren't very good at math and/or 2. barely bothered to study. As a 3L, I would probably read through an outline or something first to see if it clicks with you/you can tolerate it. If not, bounce out now.

Re: Federal Income Tax - 3L

Posted: Thu Aug 13, 2015 1:32 am
by First Offense
The tax E&E got me an A, because I barely studied and barely went to class. Tax E&E is beyond on point - it might as well be the bible. Just make sure the numbers in it are up to date and ride that bitch to median+.