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Join us in Miami Beach, Florida, Nov. 4-5 for dynamic education sessions that will earn you up to 16 hours of CPE/CLE/MCLE/CE on a 50-minute schedule or up to 13.4 hours of CPE/CLE/MCLE/CE on a 60-minute schedule (this includes a two-hour preconference workshop). And all for under $500 for members! Click here for details about the conference and to register today.
The AAA-CPA is pleased to announce that Hays Companies is continuing its support as a Gold Partner. The AAA-CPA Partners Program focuses on developing relationships with an exclusive and unique group of professionals. The Partners Program is an excellent way to gain ongoing visibility for companies before attorney-CPAs and its affiliates that are key decision-makers in their firm or practice. The AAA-CPA could not provide the quality programming and networking opportunities to their members without the support of these partners. Hays Companies is focused on partnerships and providing superior service to customers. They are working diligently to improve our dual professional liability policy and increase member participation. We are excited to announce our Gold Partnership with The American Academy of Attorney-Certified Public Accountants Inc. As we continue to build our partnership, we will strive to be the broker of choice for the professional liability needs of AAA-CPA members. At Hays Companies, the services we provide to our customers include but are not limited to review of exposures, marketing, claims handling, loss control and safety consulting. If you would like to learn more about how we can help, please contact with any question. For information on the services Hays Companies can provide, please visit their website at www.hayscompanies.com or feel free to call 612-425-0097.
Section 199A is one of the biggest planning opportunities that came out of the Tax Cut & Jobs Act—but only if you understand know how to explain and properly advise your clients. UNTIL THIS FRIDAY ONLY save 15% on this timely downloadable PDF e-book (updated for the recent regs). LEARN MORE
The AAA-CPA is pleased to announce the following members have been elected as Chapter Leaders:
California (Northern) Chapter
President (re-elected): Michael G. Polis
California (Southern) Chapter
President (re-elected): Michele B. Friend
Vice-President: Judson C. Leibee
Secretary: Matthew J. Negrin
Treasurer: Leor M. Hafuta
Chairman of the Board (re-elected): Sydney S. Traum
President (re-elected): James H. Sutton
Executive Vice President (re-elected): Charles J. Zimmerer
Treasurer (re-elected): Kenneth G.M. Mather
Secretary (re-elected): Charles J. Zimmerer
Directors at Large: Basil L. Bain, Jo Ann M. Koontz, Jonathan D. Marseglia, Laura C. Pyne
President (re-elected): Matthew J. McBride
New England Chapter
President: Ben Palkowski
New York Chapter
President: Michael E. Breslin
Vice-President (Queens): Joseph M. Faulisi
Vice President (Staten Island): Anthony Tucci
Pennsylvania/Delaware Valley Chapter
President: Timothy N. Rausch
Texas (South) Chapter
Education Chair & Compliance Officer (re-elected): William B. Le Vay
Membership Chair (re-elected): Bethany Peterson
Treasurer (re-elected): Donald Daum
Meeting Spokesperson (re-elected): E. Rhett Buck
Education Committee (all the above plus following): John C. Akard, Pat Bunch, Christina Doherty, Eric Krebs
President: Michael H. Murray
Vice-President: Brian G. Isaacson
By David S. De Jong, Esq., CPA, Stein Sperling Bennett De Jong PC
In De Los Santos v. Commissioner, TC Memo 2018-155, the Tax Court determined that a split dollar life insurance arrangement generated income to a key employee to the extent of the cost of current life insurance protection plus the cash value of the policy to which he had current access.
In Jackson v. Commissioner, TC Summary Opinion 2018-43, the Tax Court determined that speculative contingent obligations do not count as liabilities for purpose of determining insolvency and whether relief from indebtedness may be nontaxable. The contingent liability in this case related to possible buyback payments.
In Birdsong v. Commissioner, TC Memo 2018-148, the Tax Court determined that the wife of a physician whose sole work outside the home was to manage nine rental units was a real estate professional as the court accepted her testimony and corroborating documentation that showed upwards of 1,100 hours of time for the year in issue.
In Vanderhal v. Commissioner, TC Summary Opinion 2018-41, the Tax Court found that a husband’s payments of a student loan of his ex-wife following a divorce constituted the payment of alimony notwithstanding that his assumption of the obligation was placed in a section of the Separation Agreement titled “Tax Free Transfers.” The court stated that the other requisites of alimony were satisfied and the agreement did not clearly categorize the payments as other than alimony.
In Evensen v. Commissioner, TC Memo 2018-141, the Tax Court found that a tax preparer, alleging over $176,000 in losses from a Ponzi scheme, failed to prove multiple elements of her claim and disallowed a theft loss. The court also denied an additional $100,000 of alleged theft loss from unpaid compensation, noting that she was a cash basis taxpayer.
Natalie Choate's classic book has been an indispensable reference for estate planners since 1996. For $9 per month, the digital subscription gives you instant access to the wealth of knowledge in this amazing reference tool. Now includes TC&JA updates!
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CPA Practice Advisor
Big data has become a buzzword in the accounting profession, but like other trending topics such as blockchain, artificial intelligence and machine learning, it’s one that CPAs really need to understand.
The definition of big data goes beyond the quantity of information. Most big data experts think of it in terms of the three Vs.
The Internal Revenue Service is giving businesses a tax break they thought they had lost in the tax overhaul last year — write-offs for wining and dining clients.
The agency said companies can still deduct 50 percent of meals while entertaining clients and customers, clearing up confusion about whether tax law changes had completely eliminated that benefit.
U.S. Supreme Court Justices focused on the role of Congress and real compliance burdens for small businesses during oral arguments in a case concerning the constitutionality of digital taxation.
The highly anticipated arguments in South Dakota v. Wayfair wrapped up recently.
It's not every day an estate and tax planning story makes the front cover of a national newspaper, but many financial services professionals spent the last 24 hours reading through a lengthy report from The New York Times on strategies that President Donald J. Trump used to protect his wealth from taxes.
For some, the methods described are an aggressive take on common and accepted techniques to reduce one's tax burden. Others feel the Trump family stepped over the line of accepted behavior to avoid paying their fair share of taxes.
Global Trade Magazine
The limit on interest deductibility is impacting the way that firms finance domestic mergers and acquisitions, which is fueling the existing trend for U.S. companies to pursue foreign
mergers and acquisitions.
Growing a business internationally has always been attractive to US companies.
|| MISSED AN ISSUE OF THE AAA-CPA WEEKLY UPDATE? VISIT AND SEARCH THE ARCHIVE TODAY.
Oct. 19, 2018
Merger and Acquisition Due Diligence
Oct. 23, 2018
Webinar: Cannabis Law Update
Oct. 25, 2018
Webinar: Tax Reform 2.0 - What, When and Why Not?
Oct. 28, 2018
Tax or Refund Halloween BBQ
Oct. 30, 2018
Planning Using the Proposed Regulations Under IRC §§ 199A and 643(f)
Nov. 4, 2018
2018 Fall Meeting & Education Conference
Nov. 16, 2018
Tax Considerations When Structuring Profits Interests Versus Capital Interests in Partnersh
Nov. 27, 2018
Webinar: Changes in VA Regulations and How It Impacts Estate Planning
Dec. 18, 2018
Webinar: Top 40 Tax Developments of 2018
Jan. 19, 2019
Ethics in Negotiations
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