The AAA-CPA Weekly Update
Jan. 4, 2012

AAA-CPA hosts free luncheon and breakfast at Heckerling Institute on Estate Planning
Come join your fellow attorney-CPAs for a free luncheon and breakfast at the Orlando World Marriott Resort and Convention Center. These events are open to members of the AAA-CPA and nonmembers who qualify to become a member. Membership is open to any person who has at any time qualified as a certified public accountant and who also has qualified to practice as an attorney at law. You do not have to be currently licensed as an attorney and CPA to join.

Luncheon for certified public accountants-attorneys
Date: Tuesday, Jan. 10, 2012, from 12:35-2:00 p.m.
Location: Miami Room, Orlando World Marriott

Breakfast for certified public accountants-attorneys
World class buffet features over 80 items including: Belgian waffle, omelet and waffle/pancake station; pastries; meats; fishes and fruit
Sponsored by: Management Planning Inc.
Date: Wednesday, Jan. 11, 2012, from 7:00-9:00 a.m.
Location: Solaris Restaurant, private room, Orlando World MarriottMore

The AAA-CPA Western Regional Education Conference — Reserve your guest room today!
Jan. 20-22, 2012, the AAA-CPA will be in San Diego at the beautiful Rancho Bernardo Inn Golf Resort and Spa. The AAA-CPA has reserved a block of rooms at fantastic discount of only $205.00 single/double, including resort fee plus applicable taxes. The resort fee includes toll-free and credit card calls, in-room high speed internet access, fitness center, in-room coffee, daily newspaper and self parking. But the rooms are only available until this Friday, Jan. 6, 2012, so you need to call now to reserve your place. Call the resort at (800) 542-6096. Please mention that you are with the American Association of Attorney-CPAs to ensure you get the discounted room rate. Space is limited, so don't miss out.

For more details about the conference and to register, click here.More

Charitable contributions of volunteers' unreimbursed expenses to animal welfare/rescue organizations
by E. Rhett Buck, attorney-CPA, Houston
When Jan Van Dusen appeared before a U.S. Tax Court judge and a team of Internal Revenue Service lawyers, there was more at stake than her own tax deductions of $12,068 she had spent taking care of 70 stray cats for the local animal rescue organization. Also hanging in the balance were the millions of dollars in annual tax deductions for charitable unreimbursed expenses that may be claimed by animal-rescue volunteers across the nation, as well as the treatment of volunteers' unreimbursed expenses for other IRS recognized charities.More

Federal tax credit for ethanol expires
Convenience Store News
The federal tax credit for ethanol expired on Dec. 31, ending more than 30 years of incentivizing the fuel made of mixed gasoline and ethanol. The credit cost the government almost $6 billion in 2011, according to a New York Times report.More

Obama's resolution? To limit dealings with Congress
Los Angeles Times
Heading into the new year, President Barack Obama will insist that Congress renew the payroll tax cut through the end of 2012, but will otherwise limit his dealings with an unpopular Congress, and instead travel the country to deliver his reelection message directly to voters, a White House aide said. "In terms of the president's relationship with Congress in 2012 — the state of the debate, if you will — the president is no longer tied to Washington, D.C.," spokesman Josh Earnest said in a news briefing in Hawaii.More

Prison inmates register with the IRS as tax preparers
USA Today
Hundreds of prison inmates have found new careers behind bars — by registering with the Internal Revenue Service as income tax preparers. A total of 331 inmates were serving prison terms when they got active or provisional tax preparer tax identification numbers from the IRS, according to an audit issued by the Treasury Inspector General for Tax Administration.More

IRS sues Yankees' Hal Steinbrenner over tax refund
The Associated Press via Bloomberg Businessweek
The Internal Revenue Service is suing New York Yankees managing general partner Hal Steinbrenner over what it calls an "erroneous" tax refund of more than $670,000. The suit was filed in federal court in Tampa, Fla. More

The IRS drafts new asset repair guidelines
Accounting Today
The Internal Revenue Service has issued new temporary taxpayer guidelines in the Federal Register to help clarify the difference between a business expense that is classified as a repair and therefore tax deductible and a capital improvement.More

One break for travelers: Cities not looking to raise visitor taxes
USA Today
For business travelers who'll be back on the road this new year, there's some good news: Cities don't appear eager to increase taxes for renting a room or eating a meal. "We're not aware of any move to raise taxes on the travel industry," says Lars Etzkorn, program director for the National League of Cities. More