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Home   Membership   Calendar   Foundation   Links   Job Board July 6, 2011


David B. Torchinsky installed as AAA-CPA president
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The AAA-CPA sailed to Bermuda last week and installed David B. Torchinsky as President of the association.

David B. Torchinsky said, "I am humbled and honored that you have selected me to lead this great organization. Special thanks to John Akard who will definitely be a tough act to follow. Whether you participate as a contributor on this listserv, are a regular 'attendee' on our telephonic study groups, attend local chapter, regional or National events, we value your involvement and support in furthering our mission. We have a dedicated group of individuals who serve as officers of this group and experienced staff members to respond to your needs. If you have any questions or suggestions regarding how our group can better assist you, please don't hesitate to get in touch with me at or by calling me at 301-838-3219."

Welcome New AAA-CPA members!
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The AAA-CPA welcomes our new members from May-June! Please click here to view the list of new members. Interested in joining the AAA-CPA? Visit us online at to apply for membership.

New Affinity Rewards credit card!
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AAA-CPA and UMB CardPartner ( have joined forces to launch the AAA-CPA's affinity Visa® Platinum Rewards credit card. The Platinum Visa® Rewards card offers qualified cardholders exceptional benefits including no annual fee, a low APR and a powerful rewards program. Cardholders will earn 1 point per dollar on purchases and balance transfers and will earn 2 points for every dollar of billed interest. Rewards points can be redeemed for airline ticket, gift cards, merchandise and more. Find out more about the AAA-CPA Visa® Platinum Rewards card by visiting

Panelist participation by AAA-CPA member
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Howard D. Rosen recently participated as a panelist at the 30th Annual Attorney/Trust Officer Liaison Conference in Palm Beach, Fla. His topic was "Offshore Asset Protection in a Post Recession World."

Nest eggs for the next generation
The Australian    Share    Share on FacebookTwitterShare on LinkedinE-mail article
AT advice and planning firm Lachlan Partners the focus is on capital protection, perhaps not surprisingly for a firm that sees the handing down of wealth through the generations as one of the big challenges facing Australians. Managing director Philip Pezzi says as second and third marriages become more common and estate planning more complex, the role of an adviser will become more complex and important. "These groups require a relationship with a trusted adviser with regular updates on their [finances]," he says. More

Pension drawdown plans help save tax
Financial Times    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Pension investors are employing new strategies to minimize the tax burden on larger retirement funds — and allow more of their savings to be inherited by their families. Providers say that investors are increasingly making use of new "flexible drawdown" rules, which allow "partial" and "phased" drawdown of their accumulated pension funds, to reduce their liability to income tax and the death charges payable on lump sums. More

Pet estate planning: Not just for Leona Helmsley anymore
MSNBC    Share    Share on FacebookTwitterShare on LinkedinE-mail article
You don't have to be Leona Helmsley to want the best for your pet after you die. She'd left her dog Trouble $12 million when she passed away in 2007. A judge cut the award to $2 million and awarded some of the money to her grandchildren, but the Maltese still lived a life of luxury until his death in December. The dog's passing was just announced this month by the Helmsley trust. More

Small businesses seek permanent solution to estate tax
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Since 1916, the estate tax has been a thorn in the side of many small businesses. At times, the estate tax has skyrocketed to 77 percent. Today, it's 35 percent once an individual's estate reaches $5 million. But that rate is due to expire at the end of 2012, which has many small businesses scrambling to figure out how best to plan their estates, reports. More

Temporary unemployment tax to expire today after 35 years
The Associated Press via The Boston Globe    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Virtually every private employer in the United States will get a tax cut. It will not affect workers' paychecks. But the expiration of a 35-year-old temporary unemployment tax — about $14 a year per worker — will mean real money for some big companies at a time when President Obama is pushing Congress to raise taxes on some businesses by closing loopholes. More

The 25 documents you need before you die
The Wall Street Journal    Share    Share on FacebookTwitterShare on LinkedinE-mail article
It isn't enough simply to sign a bunch of papers establishing an estate plan and other end-of-life instructions. You also have to make your heirs aware of them and leave the documents where they can find them. Consider: At least 10 states have been investigating whether some of the country's largest insurers are failing to pay out unclaimed life policies to beneficiaries. California and Florida have held public hearings on the issue in recent weeks. More

Top 10 estate planning concerns
The Statesman Journal    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Here's a list of the top 10 estate planning issues, with a helpful tool to assure that nothing is overlooked when planning your estate. Each issue can be dealt with after a little thoughtful consideration, but they can create major problems if not dealt with in advance. More

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Members Only Study Group: Conversions
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Members Only Study Group: Quarterly Update on S Corporations
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Members Only Study Group: Basic vs Advanced Planning in Elder Law

The Attorney-CPA Weekly Update
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