Still time to attend the Northeastern Regional Conference — Saturday only rates are available!
We will feature eight hours of top-notch continuing education. Here are some of the sessions being offered. Eight hours of continuing education will be offered, plus a reception, luncheon and brunch for only $30 per/credit hour.
Federal Tax Update, presented by Henry Meadows, CPA
Heckerling Update, presented by Ed Bortnick, Esq., CPA
The Impact of Obamacare on Filing Form 1040's in 2014, presented by Bill Noll, Esq., CPA
Tutunikov v. Markov, Docket No. A-1827-10T3 (N.J. App. Div. Aug. 1): Duties of New Jersey Fiduciaries, presented by Eric Andersen, Esq., CPA
Offers in Compromise, presented by Marty Davidoff, Esq., CPA
Come add to the discussion and receive up to eight hours of CLE/CPE credit. Education sessions begin the morning of Saturday, May 3, and we will conclude the conference on the morning of Sunday, May 4. Registration is now open! Please click here to register online. We are also offering Saturday-only education.
A special thanks to our luncheon sponsor BCG Valuations. Make sure to check them out online.
50th anniversary celebration: Seeking testimonials
Our 50th anniversary celebrations will be taking place later this summer and fall, and we want you to be a part of it! We are looking for members to submit testimonials both in writing and via video. We want to hear from you about what you joined the AAA-CPA? What is your best memory of the association, and what is the best benefit? We will be using these on several of our marketing campaigns throughout the year. Video clips can be short and sweet and done on your handheld smartphone or tablet! Email your quotes and videos to firstname.lastname@example.org. If you send us one by May 15, you'll be entered into a drawing for an Amazon gift card!
Left behind: Expired individual tax provisions
Annette Nellen, Esq., CPA, via CPA2Biz
This article explains the individual tax provisions that expired Dec. 31, 2013, or will in the next few years, and offers suggestions for what to do with them. Please click here to read further.
Offshore tax havens cost US $184 billion in revenue every year
American governments, which have struggled with tight budgets since the Great Recession, would have more than $180 billion in additional revenue each year if corporations and wealthy individuals didn't hide their earnings in offshore accounts.
The federal government loses about $150 billion annually, and state governments miss out on about $34 billion collectively because of overseas tax havens, according to a report from U.S. PIRG, a liberal public interest group.
US ranks 94th of 100 tax systems; What Slovakia could teach IRS
Is our tax system competitive? Many global companies say no. Apple CEO Tim Cook lambasted the U.S. tax system in testimony before the Senate Permanent Investigation Subcommittee. Its report on Apple suggested tax avoidance, but Apple blamed our tax system. Many other companies are more aggressive than Apple. And they too say our tax system is at fault.
Property-tax collections rising at fastest pace since US crash
Property-tax collections are rising at the fastest pace since the U.S. housing market crash sent government revenue plunging, helping end an era of local budget cuts.
In cities including San Jose, Calif., Nashville, Tenn., Houston and Washington, D.C., revenue from real-estate levies has set records, or is poised to.
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Sending money on an overseas round-trip to avoid taxes
Some investors avoid paying taxes in a move called round-tripping — sending money offshore, then investing it in U.S. stocks or bonds. A study estimates it costs the U.S. billions in lost revenues.
Recently, MIT professor Michelle Hanlon and two colleagues set out to find out all they could about round-tripping.
The top 1 percent and what they pay
Everyone talks about the 1 percent — but who are they exactly? It takes at least $389,000 to make the club: That was the minimum threshold of adjusted gross income in 2011, the most recent year for which the Internal Revenue Service has final data.
Tax-relief 'rescues' are really a ruse
The Washington Post
You're deeply in debt to the Internal Revenue Service when you hear a radio ad promising to settle the bill for a fraction of what you owe.
There will be a team of tax experts, some of whom used to work for the IRS, to help you negotiate with the agency, the advertisement claims.
CBO: Obama budget to boost US tax revenue
The News International
President Barack Obama's fiscal 2015 budget request would boost U.S. tax revenue by nearly $1.4 trillion over 10 years if fully enacted, cutting deficits by $1.05 trillion while funding new spending, the Congressional Budget Office said.
But the nonpartisan agency's analysis was less optimistic than the White House's own projections — showing that cumulative deficits would total $6.6 trillion over 10 years, compared to $4.9 trillion under the Obama plan when it was released in March.
Merely rich and super rich: The tax gap is narrowing
The New York Times
Will this be the year that the super rich finally pay higher taxes than the very rich?
This is not something that many people are worried about.
But it is an interesting fact that our current tax system assures that — year after year — the super rich, those who report adjusted gross incomes of more than $10 million, have tax rates that are significantly lower than those of the very rich, those earning more than $500,000 but less than $10 million.
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$100,000 income: 3 very different tax bills
There are a lot of differences between Queens, N.Y., Topeka, Kan., and Seattle.
One that stands out: People making the same money in each of those places can face very different tax bills. CNNMoney asked the Tax Institute of H&R Block to compare the combined federal, state and local income tax bill on a gross household income of $100,000 in each of the three cities.
Missed last week's issue? See which articles your colleagues read most.
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