The Attorney-CPA Weekly Update
Jan. 5, 2011

2011 Southwest Regional Education Conference registration open
What better way to relax ahead of the busy tax season than a weekend getaway to the AAA-Four Diamond Barton Creek Resort & Spa? The AAA-CPA invites you to attend the 2011 Southwest Regional Education Conference, Jan. 21-23, 2011. Barton Creek features some of the region's most beautiful views while also boasting the number 1 and 2 ranked golf courses in Texas. Don't miss out on the many networking opportunities or education sessions. This program will provide up to 7.5 hours of CPE and CLE/MCLE on a 50-minute hour track and 6.25 hours of CLE/MCLE on a 60-minute hour track. Attorney-CPAs; both members and non-members are encouraged to attend and bring their families. To register online visit

Join the AAA-CPA at The Heckerling Institute on Estate Planning for 2 free events
Come join your fellow Attorney-CPAs while we exhibit at the Heckerling Institute for Estate Planning (Jan. 10-14) for a free breakfast and luncheon at the Orlando World Center Marriott Resort and Convention Center. These events are open to members of the AAA-CPA and non-members who qualify to become a member. You do not have to be currently licensed as an Attorney and CPA to be a member. Membership is open to any person who has at any time qualified as a Certified Public Accountant and who also has qualified at any time to practice as an Attorney at Law. Make sure to ask about our discount memberships for Government, Educators and Students! Register online today at Please visit us onsite to register at Booth 407 in the Exhibit Hall. More

The Florida Association of Attorney-CPAs along with the Florida Bar offer distance learning CLE credits
The Florida Bar Continuing Legal Education Committee, the Tax Section, and the Florida Association of Attorney-CPAs present Tax Practitioners' Annual Review and Update 2010 -- Audio CD / DVD / Coursebook -- AAA-CPA members and non-members are now able to purchase the above course electronically. Earn up to 18 general hours, 2.5 in Ethics. Program topics include: Tax Procedure, International Tax, Tax Exempt Organizations, State and Local Taxation, Wealth Transfer Tax, Taxation of Corporations, Taxation of LLCs and Parnterships and Taxation of Employee Benefits. Full details on how to purchase can be found by clicking here. This program is run through The Florida Bar.More

Structuring ownership of privately-owned businesses: Tax and estate planning implications
Steve Gorin
Member Steve Gorin has compiled over 300 pages in CLE materials titled Structuring Ownership of Privately-Owned Businesses: Tax and Estate Planning Implications. These materials include structuring an entity to minimize income tax on change of ownership, structuring S corporations, incentive compensation, and estate and gift tax issues. He frequently adds issues that he spots in his practice or changes in the law that he happens to notice, but he does not comprehensively update citations. It is intended as a starting point for ideas, rather than a treatise. Anyone who would like this free resource is welcome to email him at or his secretary at, say that you would like his Business Succession materials, and his secretary will send a PDF of the latest version and add you to his free quarterly update list.

Topics include:


New year, different rules: Estate tax, gift tax and GST tax rules for 2011
Forbes blog
On Jan. 1, 2011, the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010, P.L. 111-312 (2010 Tax Relief Act) was signed into law by President Obama on Dec. 17, 2010. The 2010 Tax Relief Act changed wealth transfer taxes in such a way that some rules were effective for only two weeks.More

Changes to delay tax filing for some
The Augusta Chronicle
Some people will have to wait a bit longer this year to file their income taxes with the Internal Revenue Service because of tax code changes passed by Congress late last month. The IRS needs to reprogram its processing system for three provisions in the bill, which extended Bush-era tax breaks and unemployment benefits.More

Tax rate change will mean extra pay for wage earners
Working individuals will notice extra money in their paychecks due to the tax legislation that took effect Jan. 1. One of the most beneficial effects of the legislation is the reduction of the employee's Social Security tax rate from 6.2 percent to 4.2 percent, which will instantly manifest itself in the form of a higher net check.More

Tax refund loans in installments this year
The Gaston Gazette
Taxpayers who rely on immediate or overnight refund loans aren't likely to get their money as quickly this year. Instead, those who qualify will get a $1,500 installment and wait 10 to 17 days for the remainder, says Michael Dean, the owner of Gastonia's Rapid Cash Refund.More

Connecticut agency recommends end to several tax credits
The Associated Press via Bloomberg
Several Connecticut tax credits and property tax abatements have a negative or limited impact and should be abolished, the state Department of Economic and Community Development said in a report to the legislature. The report recommends the elimination of several tax credit programs, such as a business tax credit in enterprise zones that the state agency said has had no effect on economic development, and another credit for taxes paid by manufacturers in enterprise zones criticized for creating too few jobs.More

Estate planning: Temporary estate tax relief enacted
Lake County News
On Dec. 17, 2010, President Barack Obama signed "stop-gap" legislation to resolve the uncertainty regarding the estate and gift tax, at least for the years 2010 through 2012. Let us examine the changes to the estate and gift tax laws. First, let's look at the estate tax.More

Planning for a disappearing estate tax break
The new provision allowing married couples to pass on $10 million to heirs expires in 2013. What should your will say now?More