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The AAA-CPA is pleased to announce the following members have been elected as Chapter Leaders:
California (North) Chapter
President (re-elected): Michael G. Polis
California (South) Chapter
President: Michele B. Friend
Vice President: Theodore Hankin
Treasurer: Stuart A. Simon
Secretary: Judson Leibee
President (re-elected): Howard O. Bernstein
Vice President: Judy Vorndran
President: Matthew J. McBride
New York Chapter
President: Brian E. Raftery
Vice President: Jason Feingertz
South Texas Chapter
Education Chair & Compliance Officer (re-elected): William B. LeVay
Membership Chair: Bethany Peterson
Treasurer (re-elected): Donald Daum
Meeting Spokesperson (re-elected): E. Rhett Buck
Education Committee: Patricia Bunch, Thao Griepp, S. Mark Klecka, Chris Kolenda (along with above officers)
President: Brian G. Isaacson
Vice President: Michael H. Murray
Treasurer (re-elected): Peter A. Slowiaczek
Secretary (re-elected): Stephen G. Dilworth
The AAA-CPA Board of Directors have chosen the following members to serve as Director-at-Large Members for the 2016-2017 fiscal year:
E. Rhett Buck, Houston, Texas
Shirley A. Derke, Las Vegas, Nevada
David W. Klasing, Irvine, California
Marc Schwartz, Atlanta, Georgia
Ralph V. Switzer, Fort Collins, Colorado
These directors will serve during the Fall Meeting & Education Conference, Nov. 9-13 in Houston and at the Annual Meeting & Education Conference, July 4-9, 2017, in Cincinnati. This election was completed during the general meeting of the Academy June 25 at the Annual Meeting & Education Conference in Maui, Hawaii.
Help make a difference while you increase your business.
Please join AAA-CPA as we partner with The Financial Awareness Foundation and other leading financial service and nonprofit associations; their professionals and companies; nonprofits; educational institutions; larger employers; membership-based organizations; technology companies; government agencies; and the news media in celebrating, supporting and participating the Improving Financial Awareness & Financial Literacy Movement with its concentrated personal finance content media blitz built around the strategic venues of:
The goals are to encourage you to actively support and join in the movement to alert, educate, motivate and assist the general public to cost-effectively establish and keep their estate and financial plans and gifting plans current. This is such a great opportunity to "do good" for the general public, generate new revenue opportunities for you and help produce needed gifts and bequests for nonprofits. Please join us and the leading financial and nonprofit associations; companies and their professionals; nonprofits; educational institutions; larger employers; membership-based organizations; technology companies; government agencies; and the news media on this important initiative. Together we have the potential to help solve a major social challenge by advancing and contributing to one of the most amazing, broad-based, multifaceted movements for improving financial awareness and financial literacy.
- 8th anniversary of National Estate Planning Awareness Week (NEPAW — third week in October)
- 13th anniversary of National Financial Literacy Month (NFLM-April) next April
The Distinguished 2016 Improving Financial Awareness & Financial Literacy Movement honorary co-chairs are:
Representing academia: Patricia D. White, J.D., dean of the University of Miami School of Law
Her legal career spans four decades as an attorney and an educator. Dean White is transformative and a visionary; and the National Jurist Magazine named her as one of the most influential people in legal education in 2015, 2014 and in 2013.
Representing nonprofits: Andrew Watt, FlnstF, past president and CEO of the Association of Fundraising Professionals (AFP)
Watt will be representing individuals and organizations that raise more than $100 billion in charitable contributions every year around the world for countless causes. He has been invited to speak in many countries about fundraising and philanthropy, working to bring charities and governments together to maximize the impact of philanthropy and help engage citizens with their communities and their world.
Representing news media: Susan R. Lipp, editor-in-chief of Trusts & Estates magazine, the WealthManagement.com journal for estate planning professionals and a member of the Penton Wealth Management team
She oversees both the print and online version of T & E, as well as the monthly e-newsletter articles.
These individuals are strong supporters and advocates for improving financial awareness and financial literacy and provide leadership and support for bringing the essential principles of smart personal financial management to the public.
On behalf of the AAA-CPA, The Financial Awareness Foundation and the various participating organizations and professionals thank you for your efforts and for assisting us in having a positive ongoing impact on improving financial awareness and financial literacy. Visit http://home.thefinancialawarenessfoundation.org for more information.
By David S. De Jong, Esq., CPA, Stein Sperling Bennett De Jong PC
In Estate of Barnhorst v. Commissioner, TC Memo 2016-177, the Tax Court determined that amounts received by an individual with cancer were not pursuant to a health plan. The payment structure was not tied to actual medical expenses but rather to the loss of body function, effectively creating taxable disability or a deferred compensation arrangement inasmuch as premiums were paid by the employer in pretax dollars.
In White v. Commissioner, TC Memo 2016-167, the Tax Court found that a founding pastor who took a vow of poverty but retained amounts he received from his church in excess of his basic needs was taxable on all funds that he received.
Senate Republican leaders are joining efforts in the House to block Internal Revenue Service estate tax regulations on valuation discounts.
The proposed regulations, introduced in August, would limit the use of valuation discounts by family-owned businesses, which the agency has said have been abused.
Kiplinger Personal Finance
Retirees have special concerns when evaluating state tax policies. For instance, the mortgage might be paid off, but how bad are the property taxes — and how generous are the property tax breaks for seniors?
If you have clients who need to renew their Individual Taxpayer Identification Numbers (ITINs) because of recent changes to the Internal Revenue Service ITIN program, they may now do so, the tax agency announced Oct. 6. Under the Protecting Americans from Tax Hikes Act, which was enacted by Congress late last year, any ITIN not used on a federal tax return at least once in the last three years will no longer be valid as of Jan. 1, 2017.
|| MISSED AN ISSUE OF THE AAA-CPA WEEKLY UPDATE? VISIT AND SEARCH THE ARCHIVE TODAY.
When New Haven, Connecticut, Mayor Toni Harp gazes out her office windows, she can see across the street to Yale University's idyllic buildings and grounds — none of which are on her city's property tax rolls.
Yale, a nonprofit despite its $25 billion endowment and sprawling property (it owns about half the land in the city, Harp says), doesn't pay property taxes. And some officials in Connecticut, including Harp, would like to see that change.
The top retirement concern cited by financial planning clients of CPAs is running out of money, according to a new survey by the American Institute of CPAs.
The latest AICPA PFP Trends Survey found that running out of money was cited by 41 percent of CPA financial planners as the top financial concern of their clients who are planning for retirement.
Indian police detained 70 people and were investigating hundreds more after it emerged that a group allegedly posing as call center workers in a Mumbai, India, suburb may have been part of a tax scam that cheated Americans out of more than $47 million, reports said.
Police recently raided buildings on the outskirts of the densely populated city on India's west coast.
Webinar: SALT: State and Local Taxes — Do I Need an Attorney or CPA
The Nuts and Bolts of Trust Fund Recovery Penalty
Medical Marijuana — Assessing the Shifting Legal Landscape in DC and Maryland
2016 Fall Meeting & Education Conference
Webinar: Tax, Estate & Financial Planning: New Role for Attorney-CPA as an Estate Planner
Social Security: All You Need to Know
Webinar: Professional Liability 101
Webinar: Successor Liability: State and Local Tax
Jan. 24, 2017
Raising Healthy, Wealthy & Wise Kids: Case Studies
July 4, 2017
2017 Annual Meeting & Education Conference
7701 Las Colinas Ridge, Ste. 800, Irving, TX 75063