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Home   Membership   Calendar   Foundation   Links   Job Board   Dec. 28, 2011

As 2011 comes to a close, AAA-CPA would like to wish its members, partners and other industry professionals a safe and happy holiday season. As we reflect on the past year for the industry, we would like to provide the readers of the AAA-CPA Weekly Update a look at the most accessed articles from the year. Our regular publication will resume Wednesday, Jan. 4, 2012.

July 27, 2011 issue: 3 stealth tax traps
CNN Money via Fortune    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Congressional gridlock over whether to cut or raise income taxes is obscuring a different threat to six-figure earners: a host of stealth taxes implemented in the name of deficit reduction. Many of the provisions, as with the dreaded alternative minimum tax, have never been adjusted for inflation. As a result, they have morphed into tax traps for upper-middle-income earners. Here are three of the most glaring examples. More

June 1, 2011 issue: Estate planning: 16 things to do before you die
Investopedia    Share    Share on FacebookTwitterShare on LinkedinE-mail article
While many of us like to think that we're immortal, the old joke is that only two things in life are for sure: death and taxes. Not only is it important that you have a plan in place in the unlikely event of your death, but you must also implement your plan and make sure others know about it and understand your wishes — as Benjamin Franklin's famous quote goes, "by failing to prepare, you are preparing to fail". If you've procrastinated on your estate planning, this article will help you get going in the right direction. More

March 9, 2011 issue: Unreasonable low compensation: The story of the 3 little pigs
Domenick R. Lioce, Esq., CPA, Nason, Yeager, Gerson, White & Lioce, P.A.    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Once upon a time, there were three little pigs. One was a doctor, one was a lawyer, and one was an accountant. They each used a subchapter S corporation for their professional practices, and each of them reported no salary, rather, they reported all of their income as dividends from the S corporation. More

Jan. 26, 2011 issue: 10 ways to avoid a tax audit
The Wall Street Journal    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Worried about extra scrutiny from the Internal Revenue Service? While you can never completely "audit-proof" your business's income tax return, you can take actions that will greatly reduce your chances of being flagged. More

July 13, 2011 issue: How should you incorporate? 5 factors to consider
BNET    Share    Share on FacebookTwitterShare on LinkedinE-mail article
What kind of business should you form? An LLC, C-Corp or S-Corp? Unfortunately, the answer is always the same: It all depends. But the following factors may help clarify the decision for you. Given that an LLC, C-Corp and S-Corp all offer the same level of liability protection, here are five key factors to consider when deciding which business entity to form. More

March 16, 2011 issue: Credit card debt that outlives mom
The New York Times    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Following a recent post on the rising levels of credit card debt among the elderly, several readers raised an important question: What happens when borrowers die? Do they take their credit card balances to the grave, or are those left behind responsible for the debt? More

July 6, 2011 issue: 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

Aug. 3, 2011 issue: Dynasty trusts let US wealthy duck estate, gift taxes forever
Bloomberg    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Jeffrey Thomasson, 52, may pass on more than $100 million to heirs using an estate-planning strategy for avoiding gift and estate taxes. Thomasson, who lives in Indianapolis, said he's funding a so-called dynasty trust set up in Delaware with $8 million of equity from the expanding financial advisory business he owns, Oxford Financial Group. Putting the assets in a trust, which he figures could be worth more than $100 million by the time he dies, means the money should go to his heirs without triggering federal gift, estate or generation-skipping transfer taxes. More

Oct. 12, 2011 issue: Surprise! Who's not paying federal income tax?
USA Today via ABC News    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Amid complaints that nearly half of tax filers in the U.S. won't pay federal income taxes this year, this has been lost: Those making $75,000-$100,000 a year are the fastest-growing share of people who don't pay federal income taxes. Not working poor people - but those who are firmly middle class. More

April 27, 2011 issue: Tax records: Save them or shred them?
USA Today    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Tax day is over. Now it's time to find the top of your desk. If you're like most people, your home office is littered with 1099s, W-2s, letters from charities and other detritus used to prepare a tax return. Most of us are terrified to dispose of these documents, and for good reason: In an IRS audit, "The dog ate my credit card receipt" is not an excuse. More

Jan. 5, 2012
The 11th Annual IRS Tax Seminar for Tax Professionals

Jan. 10, 2012
10th Annual Northern New Jersey Working Together Conference
AAA-CPA lunch at Heckerling Institute

Jan. 11, 2012
AAA-CPA breakfast at Heckerling Institute

Jan. 20, 2012
2012 Western Regional Education Conference

Feb. 7, 2012
Missouri Chapter Meeting

Feb. 16, 2012
Helping Your Clients Build Value in Their Businesses - Capital Area Chapter Meeting
The Attorney-CPA Weekly Update
Colby Horton, Vice President of Publishing, 469.420.2601   Download media kit
Katina Smallwood, Content Editor, 469.420.2675   Contribute news
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