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Home   Membership   Calendar   Foundation   Links   Job Board May 25, 2011


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AAA-CPA Weekly Update available through MultiBriefs app
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AAA-CPA understands the need to deliver timely, relevant news to its members. In partnering with MultiBriefs to create the AAA-CPA Weekly Update, the association committed itself to providing updates on a weekly basis. The AAA-CPA Weekly Update is also available on the MultiBriefs app, available for the Apple iPhone and iPod Touch in the App Store. Simply search "MultiBriefs" and download the app free of charge. After it's downloaded, you may add the AAA-CPA feed. News is streamed into your iPhone or iPod Touch each week. Android phone users also may access the app by going to the Android Marketplace and searching "MultiBriefs" to access the Android version of the app.

Distinguished Service Award Winner: Alan E. Weiner Ezine    Share    Share on FacebookTwitterShare on LinkedinE-mail article
For most people, it is enough to do a job and to do it well. Less common are those who do a job, do it well, and then go above and beyond to serve their entire profession. Less common still are those who do all of this for decades at a time — unless you are past Society President and Suffolk Chapter member Alan E. Weiner, named this year's recipient of the NYSSCPA's Distinguished Service Award. More

Income tax repeal clears next hurdle in Senate
The Times-Picayune    Share    Share on FacebookTwitterShare on LinkedinE-mail article
A bill to repeal all state income taxes cleared a hurdle in the Senate on May 17 with a 19-17 procedural vote that sets up the proposal for a May 24 floor debate. The fiscally eye-popping measure — $10 billion to $15 billion in reduced state revenues over five years, depending on the details — prompted a spirited debate, with the cheerleading coming mostly from Democrats and the opposition from Republicans. More

Battle over Internet sales taxes rekindles in Congress
The Seattle Times    Share    Share on FacebookTwitterShare on LinkedinE-mail article
As disgruntled competitors and cash-starved states seek to force Amazon to charge sales taxes on all its orders, the world's largest online merchant has insisted on one refrain: It'd be happy to collect, as soon as everyone agrees on a fair and simple way to levy the taxes. That day may be drawing closer. More

'Millionaire's tax' resurfaces in New York Assembly
The Associated Press via The Wall Street Journal    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Six weeks after New York passed its state budget with much fanfare for holding the line on taxes, that line may be slipping a bit. Assembly Speaker Sheldon Silver on May 18 reintroduced a so-called millionaire's tax that could generate revenue to save teachers from layoffs and balance next year's budget. More

Estate planning for women (and the men who love them)
Forbes    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Now, more than ever, women need to take charge of the estate planning process, or at least be equal participants. More

Now that I've incorporated: What's next?
Small Business Trends    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Over the course of her career, Nellie Akalp helped many small business owners incorporate a business or form an LLC. And certainly there are many questions leading up to the process, such as, what type of business should I form? What's the difference between an S Corp and a C Corp? But she's also found there can be just as many questions after incorporating a business or forming an LLC. More

Republican senators seek answers on IRS gift tax enforcement
Bloomberg    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Republicans on the U.S. Senate Finance Committee are asking the Internal Revenue Service to provide more details about an investigation into contributions to political advocacy groups. The investigation, which the IRS confirmed May 13, focuses on contributions from five taxpayers to determine whether they should pay gift taxes on donations to the groups, which are organized as 501(c)(4) organizations. The IRS didn't identify the donors or the groups it is investigating. More

Your Finances: In estate planning, best to avoid '3 P's'
Times Herald-Record    Share    Share on FacebookTwitterShare on LinkedinE-mail article
One provision of the Tax Act of 2010 unified the estate, gift and generation-skipping transfer tax (GST) and increased the exemption to $5 million for 2011 and 2012 while decreasing the tax rate to 35 percent. In essence, these new rules are in effect for only the next two years. In 2013, barring any further changes, the estate, gift and GST tax reverts back to $1 million with a 55 percent tax rate. More

Reverse mortgages — Estate planning and income taxes    Share    Share on FacebookTwitterShare on LinkedinE-mail article
A reverse mortgage is a loan program in which the homeowner receives payments from the lender rather than making payments on a loan. To qualify, you must be at least 62 years old and own your home free and clear, or have a very small loan balance relative to the value of your home. A formula is used to calculate the amount of money that can be loaned against your home based on your life expectancy and the amount of equity in your home. More

May 26, 2011
Members Only Study Group: Your Primer on Veterans Benefits
June 2, 2011
South Jersey Working Together Conference
June 7, 2011
Missouri Chapter Meeting
June 8, 2011
The New Estate and Gift Tax Law – California Chapter Meeting
June 17, 2011
South Texas Chapter Meeting
2011 Annual Income Tax Seminar
June 21, 2011
Members Only Study Group: Quarterly Update on S Corporations
June 25-30, 2011
48th Annual Meeting & Education Conference
June 30, 2011
Members Only Study Group: Special Needs Trust
July 20, 2011
Colorado Chapter Meeting
July 28, 2011
Members Only Study Group: Running an Efficient Elder Law Practice
Aug. 18, 2011
Members Only Study Group: Conversions
Aug. 25, 2011
Members Only Study Group: What Really is Asset Protection?
Sept. 13, 2011
Members Only Study Group: Quarterly Update on S Corporations
Sept. 22, 2011
Members Only Study Group: Basic vs Advanced Planning in Elder Law

The Attorney-CPA Weekly Update
Colby Horton, Vice President of Publishing, 469.420.2601   Download media kit
Annette L. Kovac, Content Editor, 469.420.2604   Contribute news
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