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Please note the AAA-CPA offices will be closed on Monday, Nov. 12 in observance of Veterans Day. Thank you to all who have and continue to serve our country.

AAA-CPA luncheon in conjunction with the Heckerling Institute on Estate Planning
AAA-CPA    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Join your fellow attorney-CPAs for a free luncheon on Jan. 15 during the Heckerling Institute on Estate Planning. This event is open to members of the AAA-CPA and nonmembers who qualify to become a member and are attorney-CPAs. There is no need to be currently practicing, but you must have had both licenses at some point in your career. For more information and to register, go to our Calendar of Events section on our website,, or click here to download a registration form.

Get rid of your physical server in 2013
CoreVault    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Are you tired of the ongoing expense and maintenance associated with your physical server? CoreVault's cloud hosting services help firms securely store and access their data and applications off-site in our cloud, which includes built-in backup. Learn more about how our cloud solutions can help your firms reduce costs, improve security and maximize efficiency by visiting or calling 1-866-981-5946. Special member pricing applies.

AchieveLinks program delivers rewards for AAA-CPA members
AAA-CPA    Share    Share on FacebookTwitterShare on LinkedinE-mail article
The AAA-CPA is proud to announce that the AchieveLinks® rewards program is now available to all our members. AchieveLinks is the unique rewards program created exclusively for associations. Just by making the same purchases you already make for your business and personal life, you'll earn valuable Links reward points that can be redeemed for exciting rewards, including family vacations, great merchandise and once in a lifetime experiences. To learn more or see a list of earning opportunities and reward options, visit Better yet, activate now and start earning Links today.

Special Thought Leader Series Webcast.

Register now for this webinar featuring Stephen R. Akers, J.D. A once-in-a-lifetime opportunity exists through year end, and the stakes have never been higher. Join us for this Special Thought Leader Series webinar where you will gain the insight you need to motivate your clients to take action now.
Click here to register.

IR-2012-86, Treasury and IRS expand availability of housing for Hurricane Sandy victims
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As part of the administration's continued support for states and local partners impacted by Hurricane Sandy, the Department of Treasury and the Internal Revenue Service announced that they will waive low-income housing tax credit rules that prohibit owners of low-income housing from providing housing to victims of Hurricane Sandy. The action will expand the availability of housing for disaster victims and their families.

IRS provides tax relief to victims of Hurricane Sandy; return filing and tax payment deadline extended to Feb. 1
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In the aftermath of Hurricane Sandy, the Internal Revenue Service announced additional tax relief to affected individuals and businesses. Following recent disaster declarations for individual assistance issued by the Federal Emergency Management Agency, the IRS announced that affected taxpayers in Connecticut, New Jersey and New York will receive tax relief. More

IRS announces qualified disaster treatment of payments to victims of Hurricane Sandy
IRS    Share    Share on FacebookTwitterShare on LinkedinE-mail article
The Internal Revenue Service has alerted employers and other taxpayers that because Hurricane Sandy is designated as a qualified disaster for federal tax purposes, qualified disaster relief payments made to individuals by their employer or any person can be excluded from those individuals' taxable income. Qualified disaster relief payments include amounts to cover necessary personal, family, living or funeral expenses that were not covered by insurance. More

'The Heritage Registry of Who's Who' recognizes William H. Behrenfeld
Heritage Who's Who    Share    Share on FacebookTwitterShare on LinkedinE-mail article
William H. Behrenfeld, attorney, was selected for inclusion in the forthcoming edition of "The Heritage Registry of Who's Who." More

Federal tax update — October
by David S. De Jong, Esq., CPA, Stein Sperling Bennett De Jong Driscoll PC    Share    Share on FacebookTwitterShare on LinkedinE-mail article
In Ramig v. Commissioner, the Ninth Circuit Court of Appeals agreed with the tax court that amounts lent to a struggling corporation were not business bad debts despite the lender's salary and expense package of $200,000. They were to be considered as capital contributions where the expectation of repayment was dependent upon unlikely improvement in the financial condition of the corporation. The funds could not have been borrowed from an outside investor.

Tax bill set to rise for 30 million households unless Congress acts
The Hill    Share    Share on FacebookTwitterShare on LinkedinE-mail article
More than 30 million households could be hit with the Alternative Minimum Tax if Congress doesn't take action after the election, adding another pressure point to talks on the fiscal cliff. Democrats and Republicans agree that the election will go a long way toward determining which party has leverage in the post-election negotiations on taxes and spending. More

Engler: Fiscal deal must be president's priority
Bloomberg    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Structural changes to the U.S. budget, including an overhaul of entitlement programs and the tax code, must be the next president's priority, said John Engler, president of the Business Roundtable. "We have got to have a long-term fiscal trajectory for the nation which allows us to balance our budgets, bring those deficits down and have a tax structure that allows us to compete globally," Engler said in an interview with Bloomberg Television's Peter Cook. More

Study: Tax professionals are only dipping their toes in social media
Accounting Today    Share    Share on FacebookTwitterShare on LinkedinE-mail article
A new study by tax prep software provider Drake Software reveals that tax preparers have taken to certain avenues of social media such as Facebook and LinkedIn, but that most still have these communication and network tools on the to-do list. The study by Drake senior vice president James Stork surveyed 1,230 tax professionals in the Drake community. More

Swiss banker plea seen intensifying US tax dodge inquiry
Reuters    Share    Share on FacebookTwitterShare on LinkedinE-mail article
These are gloomy times for once super-secret Swiss banks, with a tax evasion probe by U.S. authorities grinding on and a former Swiss banker expected to plead guilty in a Florida court to helping wealthy Americans dodge U.S. taxes. Christos Bagios, formerly employed by Credit Suisse and UBS AG, is accused of helping rich Americans evade taxes. He pleaded not guilty previously but is expected to change his plea to guilty. More

Ongoing green tax code study eyes far-reaching changes    Share    Share on FacebookTwitterShare on LinkedinE-mail article
With a major new tax study on the subject well underway, a far-reaching carbon tax may be on the horizon and would affect everything from home mortgage deductions to urban development patterns. The tax study is sponsored by the U.S. Department of the Treasury and is looking at slowing climate change by the implementation of a green tax code, which would ripple across the entire economic and social landscape and possibly contain new carbon taxes. More

IRS eases tax bite for Americans hurt by hurricane
Reuters    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Taxpayers in 11 states slammed by Hurrican Sandy have something to look forward to as they recover from the storm damage: relief from the Internal Revenue Service. The massive storm, which killed at least 93 people, has been declared a "qualified disaster" by President Barack Obama. More

Nov. 7
2012 AAA-CPA Fall Meeting & Education Conference

Nov. 8
How A CFO Landed in Prison: The Nuts and Bolts of His Fraud

Nov. 13
Members Only Study Group: Estate Freeze Planning Using Offshore Trusts

Nov. 30
Tax Update and Tax Planning Workshop

Dec. 11
Rescheduled Members Only Study Group: "Disregarded" Entities — Concepts & Issues

Jan. 15
AAA-CPA luncheon in conjunction with the Heckerling Institute on Estate Planning


The AAA-CPA Weekly Update

Colby Horton, Vice President of Publishing, 469.420.2601
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Katina Smallwood, Content Editor, 469.420.2675   
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