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Rake in new members — Winners drawn
Congratulations to Denise E. McClain of Scottsdale, Ariz., and David J. Polashuk of Owings Mill, Md. McClain is the grand prize winner and will receive a free registration to the 2013 AAA-CPA Fall Meeting & Education Conference in Las Vegas. Polashuk is a new member that was referred by David De Jong and will receive a $50 American Express gift card. Thank you all for participating and growing our membership.

AICPA Accounting Competition: Mount Knights need your vote
AAA-CPA    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Member and professor Tracey Niemotko, JD, CPA, CFE, associate professor of accounting, team faculty mentor, is requesting the AAA-CPA's help. Their team Mount Knights are Mount Saint Mary College accounting majors who are competing in the final round of the American Institute of Certified Public Accountants Accounting Competition, and they need your vote. (They made it to the top 20 in the nation and are competing to be among the three finalists.) Please vote for the Mount Saint Mary College Mount Knights by clicking here.

Obama victory leads wealthy to make quick pre-2013 moves
Bloomberg via San Francisco Chronicle    Share    Share on FacebookTwitterShare on LinkedinE-mail article
The race is on for wealthy Americans to save on taxes before Jan. 1. President Barack Obama's reelection means his administration will push to let tax cuts enacted during the George W. Bush era expire for high earners, as scheduled, at year-end. Obama wants to increase the top federal income tax rate to 39.6 percent from 35 percent, boost rates on long-term capital gains to as much as 23.8 percent and shrink exemptions from estate-and-gift taxes. More

Setting the table for tax negotiations
The New York Times    Share    Share on FacebookTwitterShare on LinkedinE-mail article
The looming fiscal cliff presents an opportunity for a new grand bargain: make taxes flatter, but make spending more progressive. In July 2011, President Barack Obama and Speaker John A. Boehner came close to striking a deal. It did not work out. During the presidential election campaign, each party retreated to its starting position, with the president pushing for tax increases on those making more than $250,000, and Republicans advocating spending cuts. So what now? More

Fraudulent tax refund attempts caused delays for legitimate taxpayers
Accounting Today    Share    Share on FacebookTwitterShare on LinkedinE-mail article
The Internal Revenue Service identified 39.1 percent more attempts at fraudulent tax refunds last tax season than in the prior year, leading to tax refund delays early in tax season. Most tax refunds were processed on a timely basis last tax season, according to a new report from the Treasury Inspector General for Tax Administration, even though problems with tax credits and early-season refund delays presented significant challenges. More

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Labor: Tax the rich, don't touch safety nets
The Associated Press via The Huffington Post    Share    Share on FacebookTwitterShare on LinkedinE-mail article
After two years of getting pummeled in Wisconsin, Indiana and other battleground states, leaders of the nation's big labor unions were beaming on election night. Labor's massive voter turnout effort played a major role in helping President Barack Obama win Ohio, Nevada and Wisconsin, according to exit polls, and its leaders are now looking for a more liberal, pro-union agenda from the White House. More

Republicans and Democrats proclaim optimism on fiscal cliff deal
CNN    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Republicans and Democrats alike voiced confidence that a deal could be struck to avoid tumbling over the so-called fiscal cliff, though specifics on such a deal remained vague. The two sides have until the end of the year to negotiate a budget-cutting deal to prevent middle class tax cuts from expiring and massive across-the-board budget cuts from taking effect. More

2 things are certain after election: Volatility and taxes
Reuters    Share    Share on FacebookTwitterShare on LinkedinE-mail article
The election results have given financial advisers two things to plan for: higher taxes for the wealthy and likely volatility in the markets. Neither will be welcomed by investors, and larger questions remain surrounding the looming fiscal cliff. But for advisers, who have been hamstrung by a deadlocked Washington, the little clarity the election has brought is better than nothing. More

Nov. 15
2012 Year-End Estate Planning

Nov. 30
Tax Update and Tax Planning Workshop

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

Dec. 13
PA/DE Chapter Meeting

Dec. 21
Bridges Between the CPA and Legal Professions

Jan. 8
11th Annual Northern New Jersey Working Together Conference

Jan. 10
PA/DE Chapter Meeting

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

Jan. 25
Southwestern Regional Education Conference

Feb. 14
PA/DE Chapter Meeting

March 14
PA/DE Chapter Meeting

April 11
PA/DE Chapter Meeting

May 3
Northeastern Regional Education Conference

May 9
PA/DE Chapter Meeting

June 13
PA/DE Chapter Meeting

July 3
AAA-CPA Annual Meeting & Education Conference

July 11
PA/DE Chapter Meeting

Aug. 8
PA/DE Chapter Meeting

Sept. 12
PA/DE Chapter Meeting

Nov. 6
AAA-CPA Fall Meeting & Education Conference


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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