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It's Not Too Late to Join us at the 2015 Annual Meeting & Education Conference June 30-July 5, 2015!
Join us at the Annual Meeting and Education Conference, June 30 - July 5, 2015, at the Hilton Branson Convention Center Hotel in Branson, Missouri. This fantastic week of amusement and adventure plus 18 hours of CPA/CE (on a 50-minute hour) or 15.5 CLE/MCLE (on a 60-minute hour) is one not to miss. If you need a guest room, please call Melissa Benowitz, Director of Meetings, at 888-ATTY-CPA ext. 3 and she will do her best to get you a room at the discounted rate. Click here for all the details on the best way you can spend the July 4th holiday week this year.
Northeast Regional Education Conference Moved to August 28-30, 2015
We have moved the Northeast Regional Education Conference to August 28 - 30, 2015. The conference will take place at the Royal Sonesta Harbor Court in Baltimore, Maryland. Join us in the Charm City for a great weekend of top-level education and great networking as the AAA-CPA explores Baltimore together. Click here for details and to register today!
Florida Association of Attorney-CPAs Meeting in Conjunction with the Tax Section of the Florida Bar
Join the Florida Association of Attorney-CPAs and the Tax Section of the Florida Bar on June 3, 2015, for two education sessions
2:15pm - 3:15pm - Piercing the Veil of LLCs and Corporations
Presented by Steve R. Johnson
This portion of the program will review significant developments as to both corporate and LLC veil piercing. It also will suggest approaches and practices whereby LLCs and their members can avoid or defend against veil-piercing claims.
3:15pm - 4:15pm - Special Drafting Considerations For Asset Protection Trusts
Presented by Howard Rosen
The session will cover how to draft certain protective provisions which should be included in asset protection trusts; How those provisions work.
This is a free program for members of the Florida Association of Attorney-CPAs and members of the Tax Section of the Florida Bar. Non-members are also encouraged to attend. Click here for more information to register.
Long-Term Care Insurance Program Sponsored by AAA-CPA in Partnership with LTCR
Recognizing the significant need for long-term care planning about our members, the AAA-CPA is pleased to announce a comprehensive new Long-Term Care Insurance Program. This program offers a portfolio of comprehensive plans from multiple highly rated insurance carriers. Through a partnership with Long-Term Care Resources, AAA-CPA members now have a network or long-term care specialists available to explain the costs and benefits of this vital program. More importantly, we have used the buying power of our association to obtain special discounted rates. While we know this program is valuable, insurance is not the right answer for everyone. However, information is your best weapon in the fight against high cost of long-term care and to determine if Long-Term Care Insurance is right for you. Advanced planning is always the best approach. To receive your Long-Term Care Planning Kit, call 800-616-8759 today or click here.
Federal Tax Update — May 2015
By David S. De Jong, Esq., CPA, Stein Sperling Bennett De Jong PC
Public Law 114-14, the Don't Tax Our Fallen Public Safety Heroes Act, exempts from taxation amounts received by beneficiaries of a public safety officer who died as the result of injuries sustained in the line of duty provided that these amounts would not otherwise had been payable.
Congratulations to Sydney S. Traum on your Recent Selection in 2015 Florida Super Lawyers
Sydney S. Traum, BBA, JD, LLM, CPA practices law in Miami-Dade County, Florida. His professional association, Sydney S. Traum, P.A., is "Of Counsel" to a local law firm. He is co-author of The S Corporation: Planning & Operation and also The S Corporation Answer Book, both published by Wolters Kluwer Law and Business (CCH/Aspen Publishers). He has authored articles in The Tax Adviser and the Journal of Accountancy. The Florida Institute of CPAs (FICPA) Editorial Committee named Traum as the winner of the 2011 Writing Excellence Award for his Article, "Update on S Corporations," which was published in the January/February 2011 issue of Florida CPA Today.
A licensed CPA and attorney in both New York and Florida, Traum is a past president of the American Association of Attorney-CPAs; the Dade County Chapter of the FICPA; the Greater Miami Tax Institute; and Beth David Congregation in Miami. He is a past chair of The Florida Bar Committee on Relations with CPAs. He is currently the Board Chairman of the Florida Association of Attorney-CPAs and is Treasurer of the Harvard Club of Miami. Traum is currently serving as a member of the Association of Attorney-CPAs Executive Committee, the FICPA Federal Taxation Committee, the American Bar Association Tax Section's S Corporation Committee, The Florida Bar Probate Rules Committee and the Board of Directors of the FICPA Miami-Dade County Chapter. He was previously a member of the American Institute of CPAs Tax Division S Corporation Resource Panel.
Traum received his BBA from the Baruch School of the City College of New York (CCNY), now known as Baruch College, JD from Harvard Law School and LL.M. in Taxation from New York University Law School. He is Florida Bar Board Certified in Taxation and also in Wills, Trusts and Estates. Traum is rated by the Martindale-Hubbell Law Directory.
5 Ways to Set Your CPA Practice Apart with Chinese Expertise
A unique specialty can do wonders for growth. Just as finding a niche is important in business, specializing in a specific area can help a CPA firm build a strong client foundation. Never has that been truer than now. As China grows as a world leader, more and more Chinese businesses and individuals are looking for CPAs who are familiar with taxes in both the U.S. and China.
SEC Seeks Views on 'Shocking' Auditor Relationships
Companies could soon be forced to disclose the length of their relationships with auditors amid concern that accounting firms have become too cozy with the companies they oversee.
The U.S. regulator plans to consult investors this summer over how to strengthen the audit market.
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Client Management Strategies for Tax Season
Accounting would be a great job, the old joke goes, if it wasn't for the clients. John Stokdyk discovers that practitioners planning ahead for next year's tax workload are likely to give deadbeat clients a less-tolerant welcome.
Why Accounting Firms Leave A Lot of Money on the Table
Accounting firms, especially the larger ones, have clients and solid businesses, and, critically, they tend to want to grow. The irony is that many if not most of these firms are defining growth as bringing in new clients. They are missing the more immediately extremely profitable route to growth: maximizing their relationships with their existing clients.
House Passes Permanent Ban on Internet Access Taxes
The House approved legislation by voice vote permanently banning states from taxing Internet access or placing multiple or discriminatory taxes on e-commerce. H.R. 235, the Permanent Internet Tax Freedom Act, also known as PITFA, keeps the current moratorium on taxes on Internet access in place and extends it indefinitely.
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