Limited time offer for AAA-CPA members from T-Mobile
2011-2012 Networking and Referral Directory
Members will be receiving the 2011-2012 Network and Referral Directory the week of June 6.
AAA-CPA Weekly Update available through MultiBriefs app
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.
Are taxes in the US high or low?
The New York Times Share
Historically, the term "tax rate" has meant the average or effective tax rate — that is, taxes as a share of income. The broadest measure of the tax rate is total federal revenues divided by the gross domestic product. By this measure, federal taxes are at their lowest level in more than 60 years. More
Demand climbs for ETFs used in new ways
St. Louis Post-Dispatch Share
Demand by institutional and asset management firms for exchange-traded funds has climbed as investors use the products more for "active" investing strategies, Greenwich Associates said. About 48 percent of asset management firms and one-third of institutional funds plan to increase their allocations to ETFs in the next two years, according to a report published by Greenwich. More
Estate planning: 16 things to do before you die
While many of us like to think that we're immortal, the old joke is that only two things in life are for sure: death and taxes. Not only is it important that you have a plan in place in the unlikely event of your death, but you must also implement your plan and make sure others know about it and understand your wishes — as Benjamin Franklin's famous quote goes, "by failing to prepare, you are preparing to fail". If you've procrastinated on your estate planning, this article will help you get going in the right direction. More
Gross says savers at a disadvantage for years: Tom Keene
Bill Gross, who runs the world's biggest bond fund at Pacific Investment Management Co., said investors may be at a disadvantage for as long as 15 years as the U.S. keeps borrowing rates low to reduce its debt burden. "Savers are being disadvantaged" when compared with debtors, Gross said during an interview on Bloomberg Television's "Surveillance Midday" with Tom Keene. More
New Hampshire Senate to vote on tax limiting amendment
The Associated Press via The Boston Globe Share
A constitutional amendment to require that 60 percent of New Hampshire lawmakers must vote in favor of raising taxes and fees is coming up for a vote in the Senate. A Senate committee is recommending that the Senate vote Wednesday to hold onto the proposal until next year. More
Study: Closing tax breaks for retirement would do little to help budget
The Washington Post with Bloomberg Share
As Washington considers closing a profusion of tax breaks in its quest to reduce record budget deficits, a study suggests that some targets might produce far less cash than is commonly thought. Tax preferences for retirement plans, such as 401(k) accounts, rank among the biggest money losers for the federal government, with official projections showing a loss of about $600 billion to federal coffers over the next five years. But a study set for release this week suggests that the accounts would have to be closed, or contributions sharply limited, to realize much in the way of budget savings — a move that could undermine some of the nation's most popular retirement tools. More
Where have all the estate planning lawyers gone?
Forbes reports that estate planning attorneys have seen their work dry up in the wake of the December, 2010 estate tax relief legislation. That legislation raised the value of property which an individual can leave free of estate tax (unified credit) to $5,000,000, allows a decedent's estate to use the remaining unused unified credit of his or her last predeceasing spouse; and lowered the highest Federal estate tax rate to 35 percent. More
When risk reduction yields tax deductions
Under previous interpretations of tax law, certain kinds of companies looking to spin off subsidiaries for the purpose of shedding risks would be taxed on the costs of distributing shares as part of the transaction. But the Internal Revenue Service may have changed its mind, suggests a recent ruling in which risk reduction justified a deduction. More