The Attorney-CPA Weekly Update
Dec. 8, 2010

AAA-CPA exhibits and offers free events for members and prospects
Come join your fellow Attorney-CPAs while we exhibit at the Heckerling Institute for Estate Planning 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!

FREE Luncheon for Attorney-Certified Public Accountants Tuesday, Jan. 11, 2011 Sponsored by BCG Valuations & The Florida Association of Attorney-CPAs

Time: 12:35-2 p.m.
Location: Miami Room, Orlando World Marriott

FREE Breakfast for Attorney-Certified Public Accountants Wednesday, Jan. 12, 2011 Sponsored by Integrity Marketing Solutions & The Florida Association of Attorney-CPAs

Integrity Marketing is a niche marketing firm specializing in marketing and practice development for estate planning and elder law attorneys. Our client firms range from solo practitioners and small boutique firms to some of the better known (and larger) firms and departments across the country. Since 1995, our mission has been the same: "To help you have a more profitable and enjoyable legal practice." Our strategy is to Build Your Practice with Integrity. With The Essential Solution™ we bring the best of the best legal marketing strategies and tools to your law practice. Others may talk about comprehensive marketing, but Integrity Marketing Solutions delivers with a truly integrated marketing system founded on Essential Strategies to build your estate planning or elder law practice.

Time: 7-9 a.m. (Doors close at 8 a.m.)
Location: Solaris Restaurant, Private Room, Orlando World Marriott
Breakfast Buffet features over 80 items including: Omelets, meats, fishes, eggs, waffles/pancakes, fruit, pastries & cereals
Fee: FREEMore

Synergy Summit partner meetings
A list of the Synergy Summit Partner meetings is available by clicking here. As a reminder, any AAA-CPA member that would like to attend any of the other partner meetings may do so at the Member rate. Questions about the various programs should be directed to the organization handling the meeting. More

Chinks in the armor: Current trends in limited liability company structure after Olmstead
Domenick R. Lioce, Esq.
From corporations to limited partnerships and limited liability companies, developing trends in the law shape the dynamics of an entities' limited liability. Certain corporate forms provide more protection from outside creditors than others. This writing will examine a few of these entities and see where Chinks in the Armor exist -- allowing outside creditors to reach seemingly protected assets.More

Bush's tax cuts: How did they affect you?
Susan Yetter recalls vividly the day in March 2001 when President George W. Bush came to Western Michigan University and declared that the U.S. budget surplus "is the people's money, and we ought to trust them with their own money." Less than three months later, on June 7, 2001, Bush signed into law a 10-year, $1.6 trillion package of tax cuts making good on that promise. It buoyed businesses and consumers at the government's expense, creating private investment and jobs but contributing to future budget deficits.More

Payroll tax cut: A short primer
The Wall Street Journal
The proposed 2 percent rollback of individuals' payroll taxes used to fund Social Security is the latest iteration of an idea that's been kicked around for years as a way to supplement incomes and boost economic growth. Under the plan, the Social Security payroll tax on individual wages would be lowered to 4.2 percent in 2011, from the current 6.2 percent rate.More

SEC proposes swap dealer, participant definitions required by Dodd-Frank
The U.S. Securities and Exchange Commission proposed definitions to determine which firms will face higher capital and margin requirements under new rules for the $583 trillion over-the-counter swaps market. SEC commissioners voted 5-0 to seek comment on proposals designed to match those endorsed by the Commodity Futures Trading Commission in a 3-2 vote on Dec. 1.More

SEC to toughen custody rules for broker-dealers
ABC News
The top securities regulator said that she plans to hold broker-dealers more accountable for their customers' assets after Bernard Madoff duped his clients out of billions of dollars. "We are considering enhancing oversight of broker-dealer custody by providing new information and tools to regulatory examiners," Mary Schapiro said at an accounting conference.More

Tax proposal clouds year-end gifts
The Wall Street Journal
Senate legislation has estate planners asking whether the window has closed for clients to make gifts to children and grandchildren at unusually low tax rates. Wealth advisers have recently been touting the 35 percent gift-tax rate in effect in 2010, and the absence of a generation-skipping tax on gifts to grandchildren. Both taxes are scheduled to snap back to 55 percent on Jan. 1, creating a tax-saving opportunity for year-end gifts. More

Wall Street firms to pay bonuses earlier to avoid taxes?
The expiration -- or not -- of the Bush-era tax cuts looms as a huge issue on Wall Street. It's really not a political issue; it's more of a consumer pocketbook matter. If the cuts are not extended for those making more than $250,000 a year, it would affect many, many employees. Even if the cuts are extended only for those making less $1 million a year, the impact will still be felt.More