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Join your fellow attorney-CPAs for a free luncheon Jan. 12 during the 50th Annual Heckerling Institute on Estate Planning. This luncheon is open to members and affiliates of the AAA-CPA and nonmembers who qualify to become a member or affiliate. You do not need to be currently practicing. For more information and to register, go to our Calendar of Events section on our website or click here to download a registration form.
The American Institute of Family Law Attorneys has recognized the exceptional performance of family law attorney Joe Cordell by naming him one of 2015's 10 Best Family Law Attorneys for Client Satisfaction in Missouri. The AIOFLA is a third-party attorney rating organization that publishes an annual list of the top 10 family law attorneys in each state. Attorneys selected to the list must pass AIOFLA's rigorous selection process, which is based on client and/or peer nominations, thorough research and AIOFLA's independent evaluation. Click here to read the full announcement.
By David S. De Jong, Esq., CPA, Stein Sperling Bennett De Jong PC
In United States v. Hughes, a Massachusetts District Court found that a nonfiler provided sufficient proof of basis of inherited securities where the Internal Revenue Service failed to give credit for any basis.
In Poppe v. Commissioner,
the U.S. Tax Court found that a high school
mathematics teacher who bought and sold short-term virtually every day with about 60
transactions per month was a "t
rader" and eligible to make
the "mark-to-market" election
based on substantial activity seeking to catch the swings in
daily market movements.
In Espaillat v. Commissioner, the U.S. Tax Court denied an ordinary loss
where an individual owning a
single-member LLC, a lands
caping business, lent $359,000
to his brother's scrap metal business, the
Court agreeing with Internal Revenue Service that there was no
business purpose for the loan and that the
lender was not in the business of loaning
By Annette Nellen, Esq., CPA, CGMA, via AICPA Tax Insider
Record keeping and attention to the letter of the law should pay off in avoiding lost deductions.
By Jason Feingertz (contributor) via Sports Agent Blog
With the 2015-2016 NBA season starting, it's a good time to look back at some of the decisions made this past offseason with a focus on their tax implications.
Asking whether the Obamacare Cadillac tax will increase worker wages might seem nonsensical on its face. But wait until you hear the answer: yes and no.
The National Law Review
The Council of the District of Columbia unanimously enacted legislation that will repeal the list of tax haven jurisdictions specifically enumerated in the District of Columbia code. The legislation, titled the Fiscal Year 2016 Second Budget Support Clarification Emergency Amendment Act of 2015, was introduced Sept. 22 after the list created an uproar from singled-out countries and the business community alike.
CNBC via NBC News
They say the only certain things in life are death and taxes, but a large number of non-U.S. citizens may have found a way to avoid at least one of those. Under U.S. tax law, the estates of foreign holders of U.S. assets, such as stocks, real estate and valuables, are required to pay estate taxes on those assets after the death of the owner.
|| MISSED AN ISSUE OF THE AAA-CPA WEEKLY UPDATE? VISIT AND SEARCH THE ARCHIVE TODAY.
The new revenue recognition standard, and its effective dates for public and nonpublic companies, are no secret to anyone. Yet a majority of companies have yet to complete their initial impact assessments.
Overshadowed by the CNBC versus the Republican presidential nominees brawl was the release of Sen. Ted Cruz's flat tax plan. The Texas senator would impose a 10 percent tax rate on wage earners and a 16 percent business tax and no deductions. "Flatter rates, says Cruz, "will make for a more rapid-growth economy."
President Barack Obama signed into law a two-year budget deal that Congress approved to raise the debt limit and avert a default. To help pay for it, the bill includes a provision that will make it easier for the Internal Revenue Service to audit large partnerships, including hedge funds, private equity firms and even accounting firms.
Study Group: Charitable Lead Trusts
Applying for Federal Not-For-Profit Status
Determining a Worker's Legal and Tax Classification-Employee Versus Independent Contractor
Discounts in Valuations — Do's and Don'ts
32nd Annual National Institute on Criminal Tax Fraud and 5th National Institute on Tax Controversy
Study Group: Charitable Remainder Trusts
Washington Chapter Meeting
2015 Tax Update
AAA-CPA Luncheon in Conjunction With the Heckerling Institute on Estate Plannng
USC Gould Tax Institute
Pretransaction Planning for Selling a Closely Held Business
Study Group: Drafting Considerations for the Asset Protection Trust
AAA-CPA Annual Meeting & Education Conference
7701 Las Colinas Ridge, Ste. 800, Irving, TX 75063