<?xml version="1.0" encoding="ISO-8859-1" ?>


<rss version="2.0" xmlns:atom="http://www.w3.org/2005/Atom">
	<channel>
	<atom:link href="http://www.cpa-resource.com/rss/rss.php" rel="self" type="application/rss+xml" />
		<title>CPA Resource </title>
		<link>http://www.cpa-resource.com/</link>
		<description></description>
		<language>en-us</language>
		<lastBuildDate>Wed, 10 Mar 2010 17:03:59 CST</lastBuildDate>
		<webMaster>webmaster@cpa-resource.com (Webmaster)</webMaster>
		<item>
			<title><![CDATA[QuickBooks Chart of Accounts - Income and Expense]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=476</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=476</link>
			<description><![CDATA[Our review of the QuickBooks chart of accounts is almost complete. We've worked through the assets, liabilities and equity sections so far. This post will provide insight on the income, cost of goods sold and expense sections of the chart. First, the income section - income is the money your business makes when you sell products or services to your customers. In many cases, there will be only one income account in the chart of accounts called "Income from Customers", and that is perfectly fine. Other businesses will have more than one account, with each one providing more insight into where the revenue from the business is coming from. For example, it might list "Income from Products", "Income from Labor", and "Income from Warranties" or something similar.]]></description>
			<pubDate>Wed, 10 Mar 2010 14:17:58 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Streamline Your Accounting: Remote Deposit Capture]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=801</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=801</link>
			<description><![CDATA[C'mon, be honest... Hauling yourself to the bank to make your deposit every day is a pain in the shorts, isn't it? As long as your business takes payment by check (and not by coin or currency), you can stop making that daily trip to the bank. How could that be?]]></description>
			<pubDate>Wed, 10 Mar 2010 14:14:36 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Estate and Capital Gain Taxes in 2010]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=797</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=797</link>
			<description><![CDATA[A look at the temporary elimination of estate taxes in 2010 and how this ultimately may leave many more hiers facing higher capital gain taxes in 2010.]]></description>
			<pubDate>Fri, 05 Mar 2010 10:14:37 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Swiss Court Rules Against IRS, Gives Hope to US Taxpayers]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=796</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=796</link>
			<description><![CDATA[In a recent decision the Swiss Federal Administrative Court held against the IRS and ruled that information will not be shared by UBS with respect to bank accounts of American clients.]]></description>
			<pubDate>Tue, 02 Mar 2010 08:18:33 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Tax Amnesty Deadline Passes; UBS Sends Warning Letters to Clients]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=790</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=790</link>
			<description><![CDATA[As the tax amnesty passed, UBS has continued sending letters to their US clients warning of possible disclosure of information to the IRS.]]></description>
			<pubDate>Mon, 19 Oct 2009 08:54:13 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[IRS Extends Amnesty Deadline]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=782</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=782</link>
			<description><![CDATA[IRS has extended the FBAR amnesty deadline to October 15, 2009.&nbsp; Taxpayers with undisclosed foreign bank accounts should carefully weigh their options.]]></description>
			<pubDate>Tue, 22 Sep 2009 11:59:55 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[TO DEFER OR POSTPONE, THAT IS THE QUESTION "EXCHANGES OVER TWO TAX YEARS MAY BE TREATED AS AN INSTALLMENT SALE"]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=779</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=779</link>
			<description><![CDATA[In a delayed exchange transaction structured to satisfy the requirements of &sect;1031, an exchanger has up to 180 calendar days to acquire like-kind replacement property measured from the day the relinquished property is sold. Once initiated, the delayed exchange may be successfully completed (resulting in complete tax deferral), partially completed (resulting in recognition of some capital gain) or it may fail&nbsp;if no like-kind replacement property is acquired (resulting in the recognition of all capital gain generated by the sale). If the exchange begins in one tax year and extends into the subsequent tax year, the question arises whether the gain&nbsp;realized on the sale is recognized in the year in which the relinquished property was sold or&nbsp;in the subsequent year in which the exchanger received&nbsp;the cash&nbsp;sale proceeds from the qualified intermediary.&nbsp;&nbsp;In a perfect world, gain would be recognized in the&nbsp;subsequent year when the&nbsp;proceeds were actually received by the exchanger. In many cases, this turns out to be&nbsp;wholly or partially true.]]></description>
			<pubDate>Mon, 14 Sep 2009 14:23:01 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Power of Appointment:  General or Limited?]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=777</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=777</link>
			<description><![CDATA[It is unequivocally imperative that language used to create either a general power of appointment or limited power of appointment&nbsp;be unambiguous and clearly stated to give effect to a general power of appointment as contrasted with a limited power of appointment.]]></description>
			<pubDate>Wed, 02 Sep 2009 13:08:15 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Why It is Critical to Verify Your QuickBooks Data]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=770</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=770</link>
			<description><![CDATA[Want to ensure that your QuickBooks company file works as efficiently as possible and avoid possible data corruption problems? Make sure you verify the data within the file on a regular basis.]]></description>
			<pubDate>Wed, 02 Sep 2009 12:39:06 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Tax Effects of Settlements and Judgments of Employment Claims]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=771</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=771</link>
			<description><![CDATA[In a dispute between an employee and his or her employer, the economic benefits of a settlement or judgment may be importantly affected by the ultimate after-tax results of any payment.&nbsp; This may, in turn, affect how the claim is framed and whether or how a settlement is negotiated.&nbsp; The tax analysis of such matters can thus be of real dollar value to the parties to the dispute.&nbsp; Such analysis starts with some general principles and then moves to more particularized issues.&nbsp; Let's look first at the most important general principles which will affect the analysis.]]></description>
			<pubDate>Fri, 28 Aug 2009 08:32:15 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[QuickBooks and CRM: Using CRM to Gain and Maintain a Competitive Edge]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=760</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=760</link>
			<description><![CDATA[I recently came across an article that was published by Naseem Saab, the president and Founder of Results Software. His article provides excellent insight into some of the "high level" benefits of having a CRM system for businesses today as well as the critical needs of having the CRM system integrate with QuickBooks and Outlook.]]></description>
			<pubDate>Thu, 27 Aug 2009 06:56:16 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Details of UBS Deal Revealed]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=757</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=757</link>
			<description><![CDATA[Today, the IRS has announced that UBS will reveal names of 4,450 Americans with undisclosed accounts.&nbsp; What should these people do now?]]></description>
			<pubDate>Wed, 19 Aug 2009 12:31:14 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Ninth Circuit Offers New Guidance on Private Retirement Plans]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=742</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=742</link>
			<description><![CDATA[In a recent opinion, the Ninth Circuit has limited the protection offered to debtors by the use of private retirement plans.]]></description>
			<pubDate>Mon, 03 Aug 2009 12:00:18 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Congress Looks to Shut Down Valuation Discounts]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=739</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=739</link>
			<description><![CDATA[As Congress is looking for ways to pay for big spending, gift and estate taxes become the likely target of rate increases.]]></description>
			<pubDate>Thu, 30 Jul 2009 00:00:00 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[QuickBooks Registration: More Hassle Than it Should Be?]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=741</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=741</link>
			<description><![CDATA[It took just a bit more than 10 minutes to register a copy of QuickBooks during a recent client visit because I was forced to use the phone option and wasn't able to register online. The time before that it took me 15 minutes and a call back as I was disconnected. How long did it take you?]]></description>
			<pubDate>Wed, 29 Jul 2009 00:00:00 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Is Your Bookkeeper a Good Fit]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=715</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=715</link>
			<description><![CDATA[As you explore ways to improve your business and make it more efficient (and profitable), consider taking a closer look at the financial side of your business. This review would include the systems and staff that are in place handling accounting and bookkeeping tasks each day. They may be costing you more than you think!In this installment, let's explore several trouble spots where the wrong bookkeeper in a small business can get it into BIG trouble...]]></description>
			<pubDate>Wed, 17 Jun 2009 12:37:38 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Nevada Introduces Restricted LLCs]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=711</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=711</link>
			<description><![CDATA[Nevada has figured out a way to get even more LLCs and LPs formed by practitioners nationwide.&nbsp; They have introduced a new type of LLC and LP that is aimed squarely at the estate planning market.]]></description>
			<pubDate>Thu, 04 Jun 2009 12:44:42 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Minimize Problems With Employee Terminations]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=702</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=702</link>
			<description><![CDATA[Many of our clients have found it necessary to reduce staff (or even staff pay or benefits) to weather this rocky 2009.&nbsp; While they are no doubt doing this to reduce expenses, in my experience, there is one thing well worth spending money on as part of this plan, namely, a competent employment attorney.&nbsp; Why is this?]]></description>
			<pubDate>Wed, 20 May 2009 07:29:40 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[The FBAR Form: The Government's Big Hammer]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=681</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=681</link>
			<description><![CDATA[The FBAR form is far reaching and the penalties for failure to comply are confiscatory.&nbsp; The following is a concise summary of the filing requirements and the penalties.]]></description>
			<pubDate>Mon, 18 May 2009 00:00:00 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Some Tax Elections and Actions for Consideration by the Personal Representative]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=685</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=685</link>
			<description><![CDATA[The Personal Representative of a decedent's estate (including the trustee of a revocable trust where the trustee serves the same function) should consider some planning moves, including making or not making certain available tax elections.&nbsp; In addition to the matters described in this outline, the personal representative occasionally may be requested by beneficiaries to cooperate in their separate planning strategies; this can be done so long as the personal representative is careful to meet applicable fiduciary duties.&nbsp; Naturally, such duties are always of concern, as well, where a choice is in the discretion of the personal representative alone.&nbsp; Some choices will be relatively easy, others will be quite the opposite. &nbsp;]]></description>
			<pubDate>Wed, 13 May 2009 10:36:07 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Gift or Income?]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=679</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=679</link>
			<description><![CDATA[Whether money given to a person constitutes a "gift" or "income" depends on the transferor&rsquo;s intention.&nbsp; A&nbsp;transfer amounting to a "gift" is one that must be reached on consideration of all the factors and one that is left to the trier of facts.]]></description>
			<pubDate>Tue, 05 May 2009 11:42:30 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Exchange Expenses: How to Find the Hidden Boot in a 1031 Exchange]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=640</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=640</link>
			<description><![CDATA[Many investors know that in order to have a completely tax deferred 1031 exchange, they need to acquire replacement property that is equal or greater in value compared to what was sold, and they need to use up all of their cash.&nbsp; What is not understood as well is that using exchange money to pay for certain expenses at a closing can result in the transaction being partially taxable.&nbsp;]]></description>
			<pubDate>Tue, 07 Apr 2009 10:02:27 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[IRS Extends Its Hand to Taxpayers and Once Again Reaches Deep into Our Pockets]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=632</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=632</link>
			<description><![CDATA[IRS has released guidance on voluntarily compliance program for American taxpayers with undisclosed offshore bank accounts.]]></description>
			<pubDate>Tue, 07 Apr 2009 00:00:00 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[An Update on Swiss Banking]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=629</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=629</link>
			<description><![CDATA[Recent scandal at UBS has made Swiss banking a lot more difficult for US investors.&nbsp; But few private banks remain who are happy to bank US clients.]]></description>
			<pubDate>Tue, 31 Mar 2009 16:26:09 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Gathering Intelligence In Cross-Border M&A]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=621</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=621</link>
			<description><![CDATA[While the U.S. deal &#64258;ow has slowed for many reasons, transactions that cross bor&shy;ders have increased over the last several years. As the world economy struggles and the dollar has regained a fair amount of its lost value, the opportunity for strong U.S. companies to gain a foothold in emerging markets has increased. International busi&shy;ness has been facilitated by strong interna&shy;tional conventions to include financial reporting standards, anti-corruption, fair labor, intellectual property, antitrust, envi&shy;ronmental and many others. The goal has been to increase predictability and drive international trade. As a result, the merg&shy;ing of businesses located in different coun&shy;tries has been on the increase.]]></description>
			<pubDate>Mon, 09 Mar 2009 12:41:56 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Like Kind Exchanges Involving Vacation Homes - Updated]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=598</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=598</link>
			<description><![CDATA[In July, 2007, I wrote a brief article regarding the ability of the owner of a vacation home to dispose of the property by means of a like kind exchange of properties under Section 1031 of the Internal Revenue Code.&nbsp; The article concluded that in order to qualify for exchange, a property must not have been occupied for personal use by the owner and his family for more than the greater of fourteen days or ten percent of the days during which the property was rented to persons other than family members for a fair market rental. In February, 2008, the Internal Revenue Service issued Rev. Proc. 2008-16, 2008 IRB 547, which provides a safe harbor that, when satisfied, assures a party to an exchange that the requirement in Section 1031(a)(1) that the an exchange property be held for productive use in a trade or business or for investment has been satisfied. Now...]]></description>
			<pubDate>Tue, 17 Feb 2009 10:30:41 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[SEC Takes "No Action" to TIC Request]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=589</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=589</link>
			<description><![CDATA[On January 14, 2009, the U.S. Securities and Exchange Commission (SEC) published its response to a request for a "no action" letter. The request described certain tenant in common (TIC) transactions which involve the transfer of undivided tenant in common interests pursuant to a master lease or a property management agreement, and urged that such transactions should not be considered securities under Section 2 (a)(1) of the Securities Act of 1933. The SEC disagreed with that view and refused to issue the "no action" letter.]]></description>
			<pubDate>Tue, 10 Feb 2009 09:35:07 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Employee or Independent Contractor]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=588</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=588</link>
			<description><![CDATA[Reclassification of employees can create devastating tax liabilities, major employee benefit problems, and other collateral consequences.&nbsp; Care in making a proper classification for various purposes is very important.]]></description>
			<pubDate>Tue, 10 Feb 2009 09:26:15 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Protecting Madoff Investors]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=563</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=563</link>
			<description><![CDATA[It is bad enough that most of the people who invested with Madoff will lose a significant amount of their wealth. It is also possible, in fact, likely, that many of the investors who received distributions from Madoff or pulled their money out in time may have to return the money.]]></description>
			<pubDate>Mon, 05 Jan 2009 00:00:00 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[How Does Someone Know If They need A Bankruptcy Lawyer?]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=564</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=564</link>
			<description><![CDATA[How does someone know if&nbsp;they need to see a bankruptcy lawyer?&nbsp;If you&nbsp;or someone you know would answer "yes" to&nbsp;just a&nbsp;few&nbsp;revealing, eye opening questions, and you will realize how far gone your finances have become!]]></description>
			<pubDate>Mon, 05 Jan 2009 00:00:00 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Bankruptcy: Are You High risk?]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=562</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=562</link>
			<description><![CDATA[There are three drastic, life altering events that seem to put people at a higher risk of bankruptcy than anything else that normally happens in life. These factors are: unemployment, serious illness, divorce. If you suffer just one of these events, there is a higher than normal likihood that you will file bankruptcy. This can happen to anyone!]]></description>
			<pubDate>Mon, 22 Dec 2008 13:58:26 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[FORECLOSURE HAVOC - Tips on Surviving the Storm if Your Lender Won't Work With You  ]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=556</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=556</link>
			<description><![CDATA[Tsunomi warning: For every ten houses on your block, one of them may soon be empty. More than 9% of all homeowners are now in foreclosure or late on their house payments. If you are behind on payments, you may be able to save your home if you are back to a position where you can resume regular payments, even if you don't have all the money needed to catch up. If you simply can't afford your payments, be prepared to lose your house. There are no programs to help you stay in a home you can't afford. Stop waiting for Santa Claus and make plans to move on. Foreclosure counselors may offer you suggestions. They usually tell you to take stock of your finances, make a budget, and then approach your lender for a loan modification.]]></description>
			<pubDate>Tue, 09 Dec 2008 14:45:25 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[IRS Expands Compensation Reporting Requirements for Non-Profits]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=546</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=546</link>
			<description><![CDATA[The Internal Revenue Service has revised and expanded Form 990, the form which is completed and filed annually by tax-exempt organizations.&nbsp; The expanded form must be used for calendar year 2008 reporting (to be filed in early 2009). &nbsp;It requires extensive disclosure of details about management compensation that were not previously reported to the IRS.&nbsp; The form also now asks for an explanation of the process by which compensation amounts were determined. The IRS has focused on compensation amounts paid by tax-exempt organizations for years, and these new disclosure requirements are intended to help them quickly identify organizations which may have the most potential for abuse.&nbsp;&nbsp;]]></description>
			<pubDate>Wed, 03 Dec 2008 12:28:56 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Anticipating a Change in Capital Gain Rates]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=543</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=543</link>
			<description><![CDATA[The new administration and the new Congress may bring an end to low capital gain tax rates.&nbsp; If you are thinking of selling a capital asset, do so today. There is a lot of excitement in Washington coming on the heels of the election. Change is in the air, and with this change comes the promise of higher income taxes. None of us can predict how the new administration and the new Congress will change the tax Code. We can be fairly certain that they will increase the marginal tax rates. Specifically, there is an expectation of an increase in the capital gains tax rate. How can we plan for that?]]></description>
			<pubDate>Tue, 25 Nov 2008 16:04:50 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Compensating Domestic Employees]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=513</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=513</link>
			<description><![CDATA[A domestic (household) worker such as a maid, sitter, health care provider, or gardener is generally considered an employee of the homeowner if the homeowner can control how the work is done. Whether the worker is full or part-time and how the worker is paid have little determination on whether the worker is an employee or independent contractor. Domestic employers are required to withhold and pay FICA tax on wages of $1,600 or more per year per employee ($1,700 in 2009).&nbsp; However, they are not required to withhold federal income tax unless the employee requests that taxes be withheld.&nbsp; If the employee does request withholding, the employee must complete Form W-4 so that the employer can determine how much tax to withhold.]]></description>
			<pubDate>Sun, 23 Nov 2008 00:00:00 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Sale of Charitable Remainder Trust Interests]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=532</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=532</link>
			<description><![CDATA[The IRS and Treasury Department have identified what they believe may be a tax avoidance transaction involving charitable remainder trusts ("CRT"). In one variation of the transaction, Grantor creates a CRT and contributes appreciated assets ("Appreciated Assets") to the CRT. Grantor retains an annuity or unitrust interest ("term interest") in the CRT and designates a charitable organization described in IRC Sections 170(c), 2055(a) and 2522(a) ("Charity") as the remainder beneficiary. Charity may, but need not, be controlled by Grantor; Grantor may, but need not, reserve the right to change the Charity designated as the remainder beneficiary.]]></description>
			<pubDate>Thu, 06 Nov 2008 07:55:20 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Reasons to Have a Company Legal Compliance Plan]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=531</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=531</link>
			<description><![CDATA[Protection from creditors may involve the use of trusts, limited liability companies, and similar structures.&nbsp; However, avoiding liability in the firs place is a major leg on which any solid protection plan stands.&nbsp; The best planning thus involves planning to assure compliance with various rules the violation of which could create devastating liability, either criminal or civil.&nbsp; Sometimes clients are reluctant to do such planning.&nbsp; Here are some solid reasons why such planning is worthwhile and some ideas to make such planning more likely to succeed.]]></description>
			<pubDate>Thu, 06 Nov 2008 07:53:13 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Problems with Unpaid Owner Debt in Pass Through Entities]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=522</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=522</link>
			<description><![CDATA[Owners of pass through entities should be careful about the use of shareholder debt to capitalize a business because the failure of the company to repay or service the indebtedness can cause problems for both the owners and the company.&nbsp; If the company is a pass through entity, one of these problems is cancellation of indebtedness (C.O.D.) income attributed to the company if the is debt forgiven or the company is dissolved without repaying the debt in accordance with section 61(a)(12) of the Internal Revenue Code of 1986 as amended (the "Code"). &nbsp;Section 108(a) of the Code provides an exemption from recognition of C.O.D. income to bankrupt debtors and to insolvent debtors to the extent of their insolvency; however, as described below, it does not provide complete protection, and there is a price to be paid for the protection that is provided.]]></description>
			<pubDate>Fri, 31 Oct 2008 12:28:33 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Disaster Relief]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=521</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=521</link>
			<description><![CDATA[In 2005, the IRS issued Revenue Procedure 2005-27 allowing for the possibility of extending your 1031 Exchange deadlines when affected by Presidentially Declared Disaster areas.&nbsp;A taxpayer can benefit if:]]></description>
			<pubDate>Mon, 27 Oct 2008 16:59:27 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Keep Your Personal Creditors at Bay]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=509</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=509</link>
			<description><![CDATA[It's no secret many of us are currently experiencing a rough financial ride.Some protective steps taken now may go a long way toward covering your downside.&nbsp; The best time to engage in protecting your business and personal assets is long before you have problems.&nbsp; The closer you are to trouble, the more likely it is that your protective tactics will be undone.]]></description>
			<pubDate>Wed, 08 Oct 2008 15:53:33 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Estate Tax Reduced for Terrorist Victims]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=508</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=508</link>
			<description><![CDATA[Section 2201 of the Internal Revenue Code provides that the maximum federal estate tax rate for a decedent who is any specified terrorist victim is 20 percent, as compared with a maximum rate of 45 percent for all other decedents.]]></description>
			<pubDate>Tue, 07 Oct 2008 13:33:27 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Economic Downturn a Boon for Asset Protection]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=506</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=506</link>
			<description><![CDATA[In a down economic market many real estate investors and business owners will face calls on personal guarantees.&nbsp; With some prudent planning, most of their personal assets can be safeguarded.]]></description>
			<pubDate>Tue, 07 Oct 2008 00:00:00 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Should Congress Limit Executive Compensation?]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=486</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=486</link>
			<description><![CDATA[Compensation of executives is one of the most controversial topics in American business today.&nbsp; It is also one of the most complicated issues due to the broad nature of executive responsibilities and the difficulties involved in measuring one person's achievements.&nbsp; Congress has created numerous limits on tax deductions for executive pay and the SEC has asked companies to disclose&nbsp;how their pay amounts are determined.&nbsp; Should the government now establish a maximum wage?]]></description>
			<pubDate>Tue, 02 Sep 2008 07:12:26 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[QuickBooks Chart of Accounts - Liability and Equity]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=474</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=474</link>
			<description><![CDATA[Keep that CPA visor on for just a while longer! In my previous post, I explained the difference between the various types of accounts withing the asset section of the QuickBooks chart of accounts. This post will give you some additional insight on the liabilities and equity section.Let's begin...]]></description>
			<pubDate>Tue, 02 Sep 2008 07:11:38 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[QuickBooks Chart of Accounts - Asset Section]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=473</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=473</link>
			<description><![CDATA[Ok, put your bean counter hat on for just a microsecond and get a better understanding of the asset section of the QuickBooks chart of accounts. Remember: assets are things your business owns. The chart of accounts is nothing more than a big digital filing cabinet that is used to store copies of your QuickBooks transactions (checks, invoices, etc.) When you create a financial report such as the profit and loss in QuickBooks, it rifles through the filing cabinet to put together the appropriate transactions for the report from the filing cabinet. Click Lists in your menu bar, then Chart of Accounts to access it. When you click the "Account" box in the lower left hand corner and then "New", and you can choose from:]]></description>
			<pubDate>Tue, 26 Aug 2008 08:33:04 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Tips for QuickBooks Merchant Services (and others too!)]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=471</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=471</link>
			<description><![CDATA[Do you find that the process of reconciling your bank account with your credit card deposits in QuickBooks is a pain in the rear because your credit card merchat takes the fees out of each transaction? You know the drill - this deposit looks "close to" the right one, but not quite, etc.Here's a little tip that can simplify your bookkeeping life...]]></description>
			<pubDate>Fri, 22 Aug 2008 13:31:53 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Helping Our Clients Weather The Storm]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=459</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=459</link>
			<description><![CDATA[Even though economic downturns are a normal part of the economic cycle they present significant challenges to all of our business clients. &nbsp;Here are some thoughts on how you can help your clients weather the storm and engage in practices that make sense even in the best of times.&nbsp; To me, it is essential for us to be equipped to advise our clients how to: &nbsp;1) run their businesses to better protect themselves from the harsh effects of defaulting and failing customers and suppliers (Smart Business Tactics); 2) protect their own assets from debts or problems arising from their own businesses (the Corporate Veil); and 3) how to protect their assets from their own creditor problems (Personal Creditor Protection).&nbsp; This article covers only the first point, as I would like to follow up on the others at a later date.]]></description>
			<pubDate>Mon, 11 Aug 2008 12:26:52 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[The Top Ten Largest Banks in the World]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=456</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=456</link>
			<description><![CDATA[It surprises many Americans that their favorite U.S. banks are not necessarily the largest in teh world.]]></description>
			<pubDate>Mon, 11 Aug 2008 12:16:10 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[New York's Battle Over eCommerce Sales Tax]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=450</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=450</link>
			<description><![CDATA[The world of e-commerce sales tax has been active of late, complete with high profile legislation that could in the end impact the way sales tax is applied to online retailers across the country. Well, the situation continues to evolve. On May 8, 2008, The New York Department of Taxation and Finance issued TSB-M-08(3)S, which further explains the legislation enacted effective April 23, 2008, which provides a presumption that certain sellers of taxable tangible personal property or services are sales tax vendors and are required to register and collect sales tax.]]></description>
			<pubDate>Wed, 30 Jul 2008 08:22:28 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Opinion Letters on Compensation Paid by Charities]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=381</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=381</link>
			<description><![CDATA[The Internal Revenue Service now keeps a close eye on charities and social welfare organizations to ensure that their tax-exempt status is not abused.&nbsp; One of the primary factors the IRS examines is the amounts of compensation and benefits provided by these tax-exempt organizations to their key employees. The IRS believes that some officers and other employees may be taking advantage of their influential positions by setting their own compensation at above-market levels.&nbsp; The IRS has begun a wide-spread initiative to find those overpaid individuals.]]></description>
			<pubDate>Wed, 30 Jul 2008 00:00:00 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[S Corporations in Estate Planning]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=444</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=444</link>
			<description><![CDATA[S-corporations are very popular for operating businesses, and planning for them or with them can produce significant benefits for the client.&nbsp; However, their use either as a closely-held business vehicle or as a family estate planning tool needs to be evaluated in light of the other available alternatives for such a company.&nbsp; Special attention needs to be paid to S-corporation stock on the death of the owner. S-corporations are domestic corporations with a valid S-election in place under IRC &sect; 1361.&nbsp;]]></description>
			<pubDate>Fri, 18 Jul 2008 08:29:43 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Addressing Reasonable Compensation]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=443</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=443</link>
			<description><![CDATA[Executive compensation is one of the most controversial and commonly-raised issues in IRS audits of closely-held businesses and charities. Executives tend to be well paid in corporate America.&nbsp; In response, the media is debating whether these executives are really worth the amounts they are taking home.&nbsp; And, since the answer to that question has dramatic tax consequences, the Internal Revenue Service is paying close attention to this debate. The income tax laws allow corporations to deduct "ordinary and necessary" expenses incurred in carrying on their businesses.&nbsp; This includes compensation for services performed by stockholders and their family members, but only if the amounts paid are "reasonable" for the services performed.]]></description>
			<pubDate>Fri, 18 Jul 2008 07:36:19 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[What is a Qualified Intermediary (QI) in a Section 1031 Exchange?]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=433</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=433</link>
			<description><![CDATA[What exactly is a Qualified Intermediary in a Section 1031 Exchange and why do you need one?&nbsp;As replacement property specialists, the most common question we are asked is, "What is a Qualified Intermediary and why do I need one?" A Qualified Intermediary (QI) is required to successfully complete a Section 1031 Exchange.&nbsp; According to IRS code, a qualified intermediary is a person or entity that facilitates a Code Section 1031 exchange and is defined as follows.]]></description>
			<pubDate>Tue, 15 Jul 2008 11:25:38 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Alternative Lending]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=428</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=428</link>
			<description><![CDATA[Traditional lenders are denier or limiting loans very severely for some small business right now. While this seems to be an overreaction to the economy, until it corrects itself, our clients need some options since waiting 6 or more months for needed financing can shut a business down or cause the loss of a key opportunity.&nbsp; Here are some thoughts about some alternative lending options and how to get creative when using them.]]></description>
			<pubDate>Mon, 14 Jul 2008 12:47:43 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Triple-Net (NNN) Leased Real Estate: Ideal for Section 1031 Exchanges?]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=408</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=408</link>
			<description><![CDATA[So you have a client that wants to do a Section 1031 Exchange and is considering a more passive replacement property?Here are are a couple of thoughts on the increasingly popular Triple Net Leased properties.&nbsp;]]></description>
			<pubDate>Mon, 07 Jul 2008 14:43:20 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[UBS Expected to Cooperate with IRS's John Doe Summons]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=409</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=409</link>
			<description><![CDATA[The Justice Department has request the District Court to approve the Service's John Doe summons to UBS AG.&nbsp; The summons were approved and UBS has indicated that it will comply.&nbsp; This has sent a wave of panic through U.S. taxpayer with unreported foreign bank accounts.]]></description>
			<pubDate>Mon, 07 Jul 2008 14:43:11 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[1031 Exchanges May Benefit Investors Facing Foreclosure]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=398</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=398</link>
			<description><![CDATA[Given the challenging conditions in the real estate market, some taxpayers may be faced with the prospect of foreclosure or a short sale arrangement with their lender. Taxpayers in this situation have a multitude of concerns ranging from a deteriorating credit rating to loss of their equity. Unfortunately, the taxpayer may have a significant tax liability that arises out of foreclosure or short sale.]]></description>
			<pubDate>Fri, 27 Jun 2008 12:00:56 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Country Club Gifts]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=397</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=397</link>
			<description><![CDATA[When a taxpayer contemplates making gifts to a private country club, if the donor wants such gifts to qualify as present interest gifts to each member of the Club, reference to the Club&rsquo;s by-laws should be made to determine the "ownership" status of the Club members.]]></description>
			<pubDate>Fri, 27 Jun 2008 11:27:59 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Running the Numbers]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=382</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=382</link>
			<description><![CDATA[Running the numbers to minimize or eliminate federal estate tax, generation-skipping transfer tax and/or state death tax&nbsp;is important in designing and creating a practicable estate plan. But just running the numbers without consideration of how the estate owner holds legal title to his or her property is an errant waste of time and money.]]></description>
			<pubDate>Wed, 18 Jun 2008 10:31:47 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[New York Targets Internet Retailers]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=374</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=374</link>
			<description><![CDATA[The State of New York has passed a new law scheduled to go into effect June 1, 2008, requiring internet retailers to collect sales taxes.&nbsp; The new law is expected to generate an additional $78 million of revenue per year for the state.&nbsp; Several other states, including California, are considering similar laws.For any state to impose a tax on interstate commerce, the state must establish the taxpayer&rsquo;s connection to the state (the so-called nexus requirement).&nbsp; In the case of this new law (dubbed the &ldquo;Amazon&rdquo; law as it primarily targets amazon.com), the presence of Amazon&rsquo;s affiliates within the state of New York is the nexus that New York is relying on.]]></description>
			<pubDate>Thu, 05 Jun 2008 08:17:58 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Business Survival in Tough Times]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=365</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=365</link>
			<description><![CDATA[I hear a lot of people question whether it is possible to make money in tough economic times.&nbsp; It is especially hard here in Michigan with jobs leaving the state, a down housing market, gas prices climbing, and negative media about it all.&nbsp; Many of my clients question whether to proceed with marketing plans, business expansions, etc.&nbsp; Although the exact plans each business should and should not make will differ based on their circumstances, the common theme throughout all of this is that you can make money, even expand (and should certainly continue to market) in tough times.]]></description>
			<pubDate>Tue, 03 Jun 2008 07:47:02 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Depreciation Recapture Applies When GO Zone Property is Exchanged for Non-GO Zone Property]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=359</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=359</link>
			<description><![CDATA[In general, GO Zone property is property substantially all of the use of which is in the active conduct of a trade or business in the GO Zone.&nbsp; The GO Zone, or Gulf Opportunity Zone, is certain counties and parishes in Alabama, Louisiana, and Mississippi that were affected by Hurricanes Katrina, Rita, and Wilma in 2005.&nbsp; In order to encourage development in the GO Zone, the Gulf Opportunity Zone Act of 2005 provides for 50% additional first year depreciation for GO Zone property first placed in service by taxpayers on or after August 28, 2005.]]></description>
			<pubDate>Wed, 28 May 2008 07:39:31 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[IRS Issues Fact Sheet on Section 1031 Exchanges]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=358</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=358</link>
			<description><![CDATA[IRS Issues Fact Sheet in Response to Treasury's Criticism of Section 1031 Exchanges]]></description>
			<pubDate>Wed, 28 May 2008 07:38:49 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Alternative Lending Options For Entrepreneurs]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=347</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=347</link>
			<description><![CDATA[It is common knowledge that tight credit markets are causing traditional lenders to deny or restrict loans that they would have done in the past.&nbsp; While this may be a short term problem, if you are a business in need of a loan, a wait of 6 months to a year can put you right out of business or cause you to lose a business opportunity.]]></description>
			<pubDate>Wed, 21 May 2008 16:08:15 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Tax Treatment of Interest Incurred to Purchase S Corporation Stock]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=336</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=336</link>
			<description><![CDATA[Section 163(d) of the Internal Revenue Code of 1986 as amended limits the deduction of interest incurred to purchase property held for investment to an amount not to exceed the investment income of the taxpayer for the year in which the interest is paid.&nbsp; This provision can provide an unpleasant result in connection with the acquisition of the business of an S corporation by means of a stock purchase.]]></description>
			<pubDate>Thu, 08 May 2008 11:38:55 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Alternative Valuation Discount]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=328</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=328</link>
			<description><![CDATA[The value of a decedent&rsquo;s gross estate may be determined either as of the date of death or the alternate valuation date. It is important to understand that the date of death and the alternate valuation date determine when the decedent&rsquo;s property is to be valued for federal estate tax purposes&mdash;not how it is to be valued. In general, IRC Section 2032 provides for the valuation of a decedent&rsquo;s gross estate at a date other than the decedent&rsquo;s date of death.]]></description>
			<pubDate>Mon, 05 May 2008 10:44:20 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Real estate markets: Not necessarily created equal]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=327</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=327</link>
			<description><![CDATA[Struggling. Sluggish. Damaged. A bust. These are just a few words to describe the real estate market these days. But, which real estate market? Aren't they all the same? Yes and no. While related, there is a difference between residential and commercial real estate. One can't disconnect them completely, but they can and do move in distinct and separate cycles.]]></description>
			<pubDate>Fri, 02 May 2008 08:40:36 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Tax Pandering or Tax Incentive?]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=324</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=324</link>
			<description><![CDATA[In response to Sen. McCain's proposed tax plan an article in today's Washington Post (McCain's Plan for Working Class Offers Plenty for Corporate World) blasted the tax plan as pandering to corporations and businesses.&nbsp; The cry was picked up by several other publications as well.&nbsp; What is the proposed plan and does it amount to pandering?McCain's plan includes "a cut in the corporate income tax rate, from 35 percent to 25 percent, a proposal to allow businesses to write off the cost of new equipment and technology from their taxes, a ban on Internet and new cellphone taxes, and a permanent tax credit for research and development."]]></description>
			<pubDate>Wed, 30 Apr 2008 11:59:59 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Simple Strategic Planning]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=302</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=302</link>
			<description><![CDATA[Strategic planning is an ongoing process that does not end and, if used properly, is a great resource to grow and sustain your and your clients' companies. In our law firm we have found it very useful to adopt a very straight forward type of strategic planning.&nbsp; I thought it might be useful to share the primary components of our type of strategic planning with you.]]></description>
			<pubDate>Wed, 23 Apr 2008 08:15:37 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Commonalities Between Litigation Economics and Public Policy Studies]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=264</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=264</link>
			<description><![CDATA[Economic analysis enters into a wide range of business and legal issues. Practicing economists often work in different forums.&nbsp; This includes both the courtroom as well as the public policy arena.&nbsp; What is often not recognized is that the analytical tools and expertise applied in litigation economics is well suited to questions concerning public policy and vice versa.]]></description>
			<pubDate>Fri, 18 Apr 2008 08:35:13 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Section 1031 Exchanges - Shots Fired Across the Bow]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=263</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=263</link>
			<description><![CDATA[&nbsp;Section 1031 Exchanges, long considered one of the most powerful tax advantages in real estate investing, allow real estate investors to sell their investment properties and "exchange" them for a "like-kind" investment and defer the tax on the accumulated capital gains.&nbsp; This can be repeated over time until the final property is eventually sold and taxes paid.]]></description>
			<pubDate>Fri, 18 Apr 2008 08:28:30 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Beware Unknowledgeable Bank Personnel]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=252</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=252</link>
			<description><![CDATA[Never assume that a bank representative behind the desk understands the operation of a revocable living trust or how bank accounts should be titled in the name of the trustee. The trustors experience in accomplishing this objective will be directly related to the trustors own level of knowledge and the manner in which the trustor presents himself or herself to bank personnel.]]></description>
			<pubDate>Mon, 14 Apr 2008 09:13:35 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Employee Compensation in Tight Times]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=250</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=250</link>
			<description><![CDATA[I have found that many of my business owner clients feel guilty and worried because they cannot afford to pay their employees as well as they have in the past.  Others just want to retain and motivate key employees, but do not know how to do it cost effectively. Ive found, through personal and client use, that certain plans and incentives work well, yet are cost effective.  Some are simple, others are more complex.]]></description>
			<pubDate>Mon, 14 Apr 2008 09:13:19 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Forecasting Capital Gains Rates]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=246</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=246</link>
			<description><![CDATA[Anticipating a change in the administration and an increasingly Democratic Congress, real estate investors are concerned about a possible hike in capital gain rates.? The Wall Street Journal noted an increasing rate of investors moving away from 1031 exchanges and implementing taxable sales.]]></description>
			<pubDate>Mon, 07 Apr 2008 09:36:32 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Secure Shredding??? My Stuff's for sale on eBay! Help!]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=241</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=241</link>
			<description><![CDATA[Identify theft, documents damaging to your client or things you dont want others to see.  Imagine your surprise when you see those documents for sale on e-bay.  How did it happen?  You lost the chain of ownership to the documents.  Scenario one you hire a company to bring bins to your site.  The bins are not locked.  The bins are not picked up till the end of the day; the bins are moved from the floor to a warehouse to be shredded.  The bins sit at the warehouse.   All of the above open you up to non secure shredding.]]></description>
			<pubDate>Mon, 07 Apr 2008 09:36:20 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Section 6166 Security]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=234</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=234</link>
			<description><![CDATA[As a result of Estate of Roski, the Treasury Department and the IRS are in the process of establishing standards to be applied on a case-by-case basis in the future to identify those estates making an election under Section 6166. Under IRC Section 6166 (?Section 6166?), an estate that meets all of the requirements of the statute may elect to pay the estate tax attributable to the decedents interest in a closely-held business in up to ten equal annual installments.
]]></description>
			<pubDate>Wed, 26 Mar 2008 08:15:05 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Creditor Protection Issues]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=230</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=230</link>
			<description><![CDATA[It is no secret that many clients are in financial difficulty.  The best time to address creditor protection issues for either a business or an individual is as far in advance of an actual problem as is conceivably possible.  Here are a few brief thoughts on some actions to consider.  NOTE:  All of these must be analyzed and implemented by CPAs and attorneys.  This is an overview of options sometimes overlooked and NOT a do it yourself guide.  The penalties involved in doing incorrect creditor protection can be significant, so competent counsel is crucial.]]></description>
			<pubDate>Fri, 21 Mar 2008 10:07:09 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Should an eDiscovery Checkup Be in Your Future? Timely Tips to Protect Your Electronic Data Infrastructure]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=228</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=228</link>
			<description><![CDATA[Electronically Stored Information (ESI) is pervasive in the business world today. Hundreds of thousands of electronic documents are produced and stored by your company that once were stored on paper in filing cabinets or conveyed only verbally. Your secrets, valuable financial information, private corporate communications, and even your private thoughts with a colleague are now electronically recorded in e-mails, Instant Messages, voice recordings, and Word docs on CDs, Thumb Drives, Laptops, Blackberries, home computers, and dozens of other places.]]></description>
			<pubDate>Thu, 20 Mar 2008 12:03:14 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Consider SIMPLE Strategic Planning]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=223</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=223</link>
			<description><![CDATA[Many business owners purposefully decide not to engage in strategic planning.  If this includes you or your clients, I bet its because you have seen others who have spent a great deal of time, energy and money developing a plan so complex that it is never implemented or you feel it is just a waste of time.]]></description>
			<pubDate>Thu, 13 Mar 2008 08:45:58 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Prevention and Deterrence Measures for Occupational Fraud]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=213</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=213</link>
			<description><![CDATA[The final component of our discussions on the occupational fraud centers on measures that can be taken to prevent and deter future violations.  Terms ?fraud prevention? and ?fraud deterrence? are often used interchangeably. The Handbook of Fraud Deterrence provides the following definition for fraud deterrence]]></description>
			<pubDate>Tue, 26 Feb 2008 14:37:21 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Wesley Snipes vs. The Justice Department]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=209</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=209</link>
			<description><![CDATA[The big tax news this month was the Justice Departments loss in the Wesley Snipes case.  Snipes has been cleared of federal tax-fraud and conspiracy charges, but was convicted on three misdemeanor counts of failing to file a tax return.  He now faces up-to three years in a prison for the misdemeanor convictions.]]></description>
			<pubDate>Tue, 19 Feb 2008 08:21:43 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Estates and Trusts: 2 Percent Floor]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=205</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=205</link>
			<description><![CDATA[U.S. Supreme Court holds that estates and trusts are subject to the 2 percent floor for investment-advice deductions. So ends the judicial debate among the circuit courts of appeal on the subject, the Courts of Appeals were divided on the issue.]]></description>
			<pubDate>Mon, 18 Feb 2008 07:45:49 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Use Tax Corporate and State Revenue Dept. Insights & Trends]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=203</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=203</link>
			<description><![CDATA[Companies are placing a greater than ever emphasis on the effective use of resources and in most cases this means a reduction in personnel.  One person is doing the job of two, three, or even more employees.  Over the years we are seeing more companies gravitating to a ?shared services? concept.  For those of you who are unfamiliar with this concept what we mean is that companies that would have multiple internal service groups for example in the way of accounting, finance, purchasing, personnel, or legal would consolidate these individual groups.]]></description>
			<pubDate>Mon, 11 Feb 2008 11:17:05 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[The Fraud Diamond]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=202</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=202</link>
			<description><![CDATA[Explained in ?The Fraud Diamond:  Considering the Four Elements of Fraud,?  David Wolfe and Dana Hermanson have incorporated the human element, capability, into the fraud triangle.  An individuals personality traits and capability have a direct impact on the probability of fraud.]]></description>
			<pubDate>Mon, 11 Feb 2008 09:24:01 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Trust Beneficiary of Qualified Plan Benefit]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=193</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=193</link>
			<description><![CDATA[Can a stretch IRA be accomplished if the trustee of a revocable living trust is named beneficiary of the IRA?]]></description>
			<pubDate>Tue, 29 Jan 2008 12:38:21 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Taxpayer Identification Number: Revocable Living Trust ]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=178</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=178</link>
			<description><![CDATA[The IRS will issue an EIN for a revocable living trust and will accept such EIN in lieu of the trustors Social Security Number, even though the trust is no longer a revocable living trust.  ]]></description>
			<pubDate>Mon, 28 Jan 2008 10:17:48 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Can you stretch a 401(k)?]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=191</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=191</link>
			<description><![CDATA[A 401(k) or an IRA can help you leverage your savings and defer a lot of income tax in your lifetime.  But what happens to 401(k) or IRA money when someone dies?  Does it matter if you inherit a 401(k) instead of an IRA?]]></description>
			<pubDate>Mon, 28 Jan 2008 10:16:12 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Successor Liability - Collision of Tort and Corporate Law]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=186</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=186</link>
			<description><![CDATA[What new liabilities will my company face now? This question can haunt buyers of new businesses and keep them up nights.  Understanding the legal theory of successor liability may help answer this question.]]></description>
			<pubDate>Tue, 15 Jan 2008 08:24:31 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Exit Planning: Who Needs It, Who Wants It and Why]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=184</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=184</link>
			<description><![CDATA[If you own all or any part of a closely held business, you likely know that you need some kind of a contingency plan in case the unexpected occurs.  Do you know if you also need a plan to help you sell or gift your business if you do not die or become disabled?]]></description>
			<pubDate>Fri, 11 Jan 2008 13:48:53 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Downturn in the Real Estate Market Leads to More Asset Protection Planning]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=180</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=180</link>
			<description><![CDATA[Following the credit crunch of August 2007, the real estate market has experienced a significant decline.  Many of our clients are heavily invested in real estate or are involved in various development projects.  For them, the reality of the declining market means a lot more than an interesting headline.  It means that their entire estate may be facing a risk of loss.  Here is a real life example.]]></description>
			<pubDate>Thu, 10 Jan 2008 12:54:07 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Kiddie Tax Revisited]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=177</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=177</link>
			<description><![CDATA[How interesting the semantics used to mask a ?tax increase? with tax legislation that is supposed to be ?Tax Increase Prevention....?]]></description>
			<pubDate>Wed, 09 Jan 2008 07:57:41 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Sales and Use Tax Nexus]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=175</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=175</link>
			<description><![CDATA[In todays world of global economies, business has no boundaries. Technology is making the world a smaller place, with interstate commerce inevitable for healthy, growing companies. Whether a transaction involves physical goods, services, or electronic bits, issues still arise concerning sales and use taxes.]]></description>
			<pubDate>Tue, 08 Jan 2008 14:46:04 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Exit Planning: An Overview]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=173</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=173</link>
			<description><![CDATA[Do you own all or a part of a closely-held business?  If so, you will leave your business at some point, whether voluntarily or otherwise, and you need to think ahead.  If you want to be in command of the situation, you need to formulate a clear idea of your future needs and goals and develop a strategy to satisfy them.  That means creating a business Exit Plan.]]></description>
			<pubDate>Fri, 28 Dec 2007 15:57:32 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[This Way To The Egress: Exit Planning for Business Owners]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=165</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=165</link>
			<description><![CDATA[If you own a business, you will leave it at some point, voluntarily or otherwise.  In fact, statistics say that approximately 60% of business owners in the United States intend to leave their business within the next 5-10 years.  Do you have a plan detailing how this will be accomplished?]]></description>
			<pubDate>Mon, 17 Dec 2007 13:18:11 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[As the Year Winds Down, Clients Finally Look to "Plan"]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=162</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=162</link>
			<description><![CDATA[There is a commonality shared by all tax practitioners - procrastinating clients.  If we are fortunate, the client call will come in at 3 p.m. on the day a transaction is set to close.  In many cases, the call comes in after the transaction has been completed, some time next tax year.  What is a tax practitioner to do?]]></description>
			<pubDate>Thu, 13 Dec 2007 13:01:18 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Occupational Fraud]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=160</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=160</link>
			<description><![CDATA[Most of us are aware of the business scandals and failures in recent years and how occupational fraud and abuse were common themes to these failures.  At any given time, you can review case studies and allegations of fraudulent activity on government websites, such as the SEC and IRS...]]></description>
			<pubDate>Fri, 07 Dec 2007 10:06:53 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Year-End Charitable Donations]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=156</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=156</link>
			<description><![CDATA[Individuals and businesses making contributions to charity should keep in mind several important tax law changes made by the Pension Protection Act [Pension Protection Act of 2006, Pub. L. No. 109-280, 109 Cong., th 2d Sess. (17 August 2006)].]]></description>
			<pubDate>Thu, 06 Dec 2007 14:44:24 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Like Kind Exchanges Involving Vacation Homes]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=157</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=157</link>
			<description><![CDATA[We receive frequent inquiries from clients who hope to avoid recognition of gain on the sale of a vacation home by participating in a like kind exchange of properties under Section 1031 of the Internal Revenue Code. There are a number of hoops that must be passed through...]]></description>
			<pubDate>Wed, 05 Dec 2007 09:52:47 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Stock or Asset Purchase?]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=152</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=152</link>
			<description><![CDATA[Both stock and asset sales bring with them the potential for successor liability being imposed on the buyer in the future. A buyer should have a qualified attorney review the potential for successor liability in order to structure any sale to avoid it.  Successor liability is a matter of state law.]]></description>
			<pubDate>Mon, 03 Dec 2007 15:36:06 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Opportunities for Accountants in Estate Planning]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=150</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=150</link>
			<description><![CDATA[Historically, estate planning has been a neglected area in accounting and tax preparation services. Yet, it offers unlimited financial and professional opportunities for the accountant to earn an excellent living by providing an important and valuable service to existing and new clients.]]></description>
			<pubDate>Fri, 30 Nov 2007 11:03:39 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Gaining Confidence with Tax on Your Purchases]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=147</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=147</link>
			<description><![CDATA[When administering sales and use tax from the corporate perspective there are inherent problems within the process that create inefficiencies and errors. These inefficiencies and errors can cause over and/or under payments of tax. Like corporate America, the revenue departments of the various states have also been forced to change the way they do business.]]></description>
			<pubDate>Thu, 29 Nov 2007 16:33:53 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Retain Valuable Employees with "Handcuffs"]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=136</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=136</link>
			<description><![CDATA[Can you imagine your most valuable employee leaving your company; especially to work for a competitor?  It would be quite difficult and expensive for both you and your business.  Golden Handcuff plans can help minimize this risk.

Golden Handcuffs are designed to retain and incentivize employees who:  are critical to your daily operations, could affect the value of your business if you sold it, or would be key leaders if you decided to retire and hand over management.]]></description>
			<pubDate>Thu, 29 Nov 2007 15:33:46 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Tax Consequences of Cheating]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=141</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=141</link>
			<description><![CDATA[A bit over a month ago, Bill Belichick, the head coach of the New England Patriots, was fined $500,000 by the NFL.  The cause of the fine?  Videotaping defensive signals used by the coaches of the New York Jets.  While Belichick wallows in the pride of setting a new NFL record (for a fine), he has gone on to receive a contract extension through 2013.  His fine raises an interesting tax questions, is his fine tax deductible?]]></description>
			<pubDate>Thu, 29 Nov 2007 15:32:01 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[3 C's of Investigative Managment]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=129</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=129</link>
			<description><![CDATA[The complexity of fraud investigations mandates that a thorough and methodical approach is implemented throughout the inquiry.  Availability of technology can facilitate elaborate financial schemes and make the process of planning the investigation extremely important.  Ever changing environments require that a financial investigator must continually hone his or her skills to be on top of their game.]]></description>
			<pubDate>Thu, 29 Nov 2007 15:31:13 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Developing the Investigative Plan]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=146</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=146</link>
			<description><![CDATA[The complexity of fraud investigations oftentimes fuels emotions and makes the investigative process increasingly difficult for the investigator. The ever changing flow of information causes frequent direction changes in the inquiry and the multiple objectives to be accomplished.]]></description>
			<pubDate>Fri, 16 Nov 2007 13:16:10 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[New Regulations Governing Employer Identification Numbers for Disregarded Entities]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=145</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=145</link>
			<description><![CDATA[Recently, the Internal Revenue Service issued amended regulations governing required employer identification numbers for qualified S corporation subsidiaries (?Qsubs?) and other single owner entities that are disregarded as separate from their owners for federal tax purposes, commonly referred to as disregarded entities. Presently, under Notice 99-6, 99-1 C.B. 321, disregarded entities may satisfy their employment tax obligations in either of two ways...]]></description>
			<pubDate>Fri, 16 Nov 2007 08:46:34 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Roth 401(k) is Retirement Tool for Business Owners]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=144</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=144</link>
			<description><![CDATA[An important part of many business owners' exit strategy is to accumulate investments outside of their companies on a tax deferred basis.  The Roth 401(k) may be a very valuable tool to assist owners in achieving this goal.

Since 2006, Roth 401(k) programs have been a new retirement plan option.  Under a Roth 401(k), an employee can elect to have all or part of his or her 401(k) salary deferrals contributed on an after tax basis.]]></description>
			<pubDate>Fri, 09 Nov 2007 09:46:14 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Simplifying Your Sales and Use Tax Decisions Through Outsourcing]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=142</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=142</link>
			<description><![CDATA[Sales and use tax processing can be a costly and administrative burden that is not a corporate value-added function. With so much to keep up with, it can consume too much money and too much time. Compliance is a time sensitive function with state mandated filing requirements and deadlines. On top of that, the process of accurate and timely filing of return information is dependent on accurate information.]]></description>
			<pubDate>Tue, 06 Nov 2007 15:20:37 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[New Regulations Governing S Corp Open Account Indebtedness]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=137</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=137</link>
			<description><![CDATA[Historically, under Treasury Regulations, S corporation indebtedness held by shareholders that is not evidenced by an instrument (open account indebtedness) has been treated as a single indebtedness for tax purposes, although the result of separate advances and repayments.  This has allowed taxpayers to net advances and repayments thereby avoiding recognition of income on repayment of earlier advances that have reduced bases as the result of the pass through of losses.]]></description>
			<pubDate>Fri, 02 Nov 2007 13:28:33 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Life Insurance: It Can Create a Windfall]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=128</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=128</link>
			<description><![CDATA[People usually purchase life insurance (and especially term life insurance) only to provide a benefit to the family at death.  In the past, if you had insurance and no longer needed the death benefit, you would cash in the policy for its surrender value or in the case of term insurance, just stop paying premiums and let the policy lapse. If you do this today, especially if you are over age 60 or have had poor health since purchasing the policy, you may be missing out on a windfall of money.]]></description>
			<pubDate>Wed, 17 Oct 2007 15:26:55 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[What Can O.J. Teach Us About Asset Protection?]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=126</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=126</link>
			<description><![CDATA[O.J. Simpson has done more to promote asset protection planning than all the promoters put together.  Was his planning intentional or did he simply get lucky?

Of the approximately $30 million judgment that the Goldmans received, they collected a small percentage.  They foreclosed on Simpsons Brentwood mansion and sold some of his memorabilia.  Why are they unable to seize anything else?]]></description>
			<pubDate>Thu, 11 Oct 2007 07:56:52 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[The 2 P's of Disaster Planning- Part 2: Preparing for Business Continuation and Business Interruption Claims]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=124</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=124</link>
			<description><![CDATA[The crisis response plan should continue with the development of policies and procedures for business continuation and restoration of each department in the event of a disaster. A determination should also be made for the records that are needed to submit a claim for business interruption insurance, procedures for obtaining this information, and designation of persons responsible for retaining this information off-site and contacting the appropriate parties in the event of a disaster.]]></description>
			<pubDate>Tue, 09 Oct 2007 07:31:01 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Achieving Tax Savings by Forming an "IS-DISC"]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=123</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=123</link>
			<description><![CDATA[If you export U.S. made products to any foreign countries (including Canada and Mexico), you may be able to save as much as 20% on your federal income taxes by forming an ?IC-DISC,? the IRS permitted way of achieving this tax savings.

Heres a summary of how its done...]]></description>
			<pubDate>Fri, 05 Oct 2007 13:08:06 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[The Tax Consequences of Playing Baseball]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=118</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=118</link>
			<description><![CDATA[Here is a question that every tax accountant salivates over: What are the tax consequences of catching Barry Bonds recording breaking home run ball?

The choices are as follows: 
1. The fan who catches the ball does not owe income tax until he sells it.  This is the choice that most non-tax experts would pick.

2. The ball represents taxable income to the fan when caught because it is ?accession to wealth.?  If you are walking down the street and find a diamond, you are taxed on your find at its fair market value.

3. The ball is a gift from the baseball team to the fan.  The baseball team can require fans to return fly balls back to the team, but they dont...]]></description>
			<pubDate>Mon, 17 Sep 2007 09:57:14 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[The 2 P's of Disaster Planning: When You Can't Prevent, You Must Prepare]]></title>
			<guid>http://www.cpa-resource.com/blog/view.php?blog_id=117</guid>
			<link>http://www.cpa-resource.com/blog/view.php?blog_id=117</link>
			<description><![CDATA[Corporations are continually reassessing their incident response preparedness for the purpose of mitigating risks and improving protection of their employees, visitors, customers, assets and facilities. Thus, it is imperative that every company, no matter what size, have in place a plan to respond to a corporate disaster.  A corporate disaster is any event which threatens the continued viability of a company.  It can result in death or significant injuries to employees, customers or the public; shut down your business, disrupt operations; cause physical or environmental damage; or threaten the facility's financial standings or public image. 

U.S. enterprises, business leaders, and accounting professionals must be concerned about the following critical risks:]]></description>
			<pubDate>Mon, 17 Sep 2007 09:57:07 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[New Blog Author Ben Holmen]]></title>
			<guid>http://www.cpa-resource.com/blog/benholmen/</guid>
			<link>http://www.cpa-resource.com/blog/benholmen/</link>
			<description><![CDATA[Whole]]></description>
			<pubDate>Thu, 21 Jan 2010 16:35:46 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[New Blog Author derek meissner]]></title>
			<guid>http://www.cpa-resource.com/blog/derekmeissner/</guid>
			<link>http://www.cpa-resource.com/blog/derekmeissner/</link>
			<description><![CDATA[]]></description>
			<pubDate>Mon, 28 Dec 2009 11:02:20 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[New Blog Author Jacob Hopper]]></title>
			<guid>http://www.cpa-resource.com/blog/jacobhopper/</guid>
			<link>http://www.cpa-resource.com/blog/jacobhopper/</link>
			<description><![CDATA[Jacob D. Hopper is vice president of strategic development with Bedford Capital Consulting. Mr. Hopper has more than 10 years of marketing and business development experience within the professional services arena. He oversees all marketing and communications initiatives for Bedford Capital Consulting and is also responsible for identifying and developing strategic corporate relationships and new markets for the firm. Prior to joining Bedford, Mr. Hopper co-founded a software development firm dedicated to cost segregation and technological advancements in the commercial real estate industry. His hands-on experience with research and product development provides him with a unique and comprehensive understanding of the intricacies of cost segregation and the industry as a whole. Mr. Hopper is a graduate of Syracuse University with a degree in consumer studies. He has written numerous articles on cost segregation and frequently speaks to local, regional and national organizations about this valuable tax planning strategy. Mr. Hopper is a member of the American Marketing Association, the U.S. Green Building Councils New York Chapter and the International Council of Shopping Centers, where he sits on the associations Next Generation Committee in New York. He can be reached at jhopper@bedfordcap.com.]]></description>
			<pubDate>Mon, 16 Nov 2009 10:47:02 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[New Blog Author Leon Bayer]]></title>
			<guid>http://www.cpa-resource.com/blog/leonbayer/</guid>
			<link>http://www.cpa-resource.com/blog/leonbayer/</link>
			<description><![CDATA[A practicing attorney since 1979, Mr. Bayer is a founding partner in the law firm of Bayer, Wishman & Leotta (1989) and is a Certified Specialist, Consumer & Small Business Bankruptcy Law, by the State Bar of California Board of Legal Specialization. 

He has served as President, 1995-1996 of the Los Angeles Bankruptcy Forum; Member - Los Angeles County Bar Association Committee on Commercial Law & Bankruptcy, 1988; Law Advisory Commission-Personal & Small Business Bankruptcy Law of the State Bar of California, 1996-2000. 

His publications include ?The Essentials Of Chapter 13,? Daily Journal Report, December 18, 1987; Contributing Editor, Basic Bankruptcy, California Practice Handbook, Matthew Bender 1992, 1993; and as Reviewer and Contributing Author for the new CEB bankruptcy practice guide, Personal and Small Business Practice in California, 2003.

Mr. Bayer has been a frequent law lecturer for numerous programs, including the semi-annual Bridging the Gap program for the Los Angles Lawyers Club and the Daily Journal Corporation, 1999, 2000, 01, 02, 03 and ?04, State Bar of California Annual Meetings, 1984, 1986, 1987, 1988, 1989; California Bankruptcy Forum, and numerous educational programs presented by the United States Trustee.

Media presentations include TV: KCAL9-Various interviews as Bankruptcy expert for 2 part series with Reporter Alan Mendelson,  How to Survive the Recession, 3/02; also  Unmasking a Debt Negotiation Scam, 5/02; 11/03, EXTRA - various interviews as legal expert regarding celebrity bankruptcy cases including Burt Reynolds, Anna Nicole Smith; RADIO: Frequent guest-bankruptcy expert on the Benjamin Dover Show, KFI;  SundayEdition, public affairs program-1/03, 97.1 FM, and Your Legal Rights (2/04, 07/04) on KALW-FM Public Radio (91.7), San Francisco, California; Morning Edition KGIL AM Radio.]]></description>
			<pubDate>Tue, 09 Dec 2008 13:31:19 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[New Blog Author Michael Maehl]]></title>
			<guid>http://www.cpa-resource.com/blog/michaelmaehl/</guid>
			<link>http://www.cpa-resource.com/blog/michaelmaehl/</link>
			<description><![CDATA[Following his graduation from Northern Illinois University and subsequent service as an infantry officer in the Marine Corps, Mike began his investment career in New York City in 1973.  

Subsequently, Mike worked as a financial advisor in Chicago and Anchorage.  He was selected to be a branch manager for a member firm of the New York Stock Exchange in 1984.  He relocated to Washington State in 1993, continuing to serve as a branch manager until March, 2008.  At that time, Mike decided to become an independent advisor based in Spokane.

Mike holds the Certified Wealth Manager (CWM), Certified Senior Advisor (CSA) and Certified Retirement Financial Advisor (CRFA) designations, in addition to his Certificate in Personal Financial Planning.  He has been awarded the Five Star quality designation by the Paladin Registry.  To be admitted to the Registry, advisors must rank within the top10% of their profession nationwide.  Mike is a member of the Financial Planning Association.

Mike has a web site at www.mywallstreetguy.com  On the site is a link to his blog.  He uses the blog to provide daily commentary on the markets, the economy and other broad investment topics.  His blog was selected by Forbes magazine to be part of their national blog network.  In addition, he also writes a bi-monthly newsletter specifically for women investors.

Mike provides strategic wealth management counsel to small to medium businesses and professional practices, women investors and pre and post retirees.  

He and his wife of 27 years, Diane ? a professional photographer ? live in Spokane.]]></description>
			<pubDate>Mon, 08 Dec 2008 14:51:30 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[New Blog Author Scott Gregory]]></title>
			<guid>http://www.cpa-resource.com/blog/scottgregory/</guid>
			<link>http://www.cpa-resource.com/blog/scottgregory/</link>
			<description><![CDATA[Scott Gregory is a QuickBooks Specialist, QuickBooks Enterprise Specialist and CPA. He has been helping businesses gain a better understanding of QuickBooks software and improve their accounting systems for over twenty years. Scott has trained hundreds of QuickBooks users as an instructor at his local community college. Prior to forming Bottom Line Accounting Solutions, Scott was the CFO for a manufacturing company, with direct oversight of the accounting, IT, inventory control, purchasing and HR departments. Contact Scott today at www.BetterBottomLine.com.]]></description>
			<pubDate>Fri, 22 Aug 2008 07:43:30 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[New Blog Author Rosanna DiFilippo]]></title>
			<guid>http://www.cpa-resource.com/blog/rosannadifilippo/</guid>
			<link>http://www.cpa-resource.com/blog/rosannadifilippo/</link>
			<description><![CDATA[Ms. DiFilippo provides MFA's publicly-held and private clients with winning solutions to their increasingly complex business issues. Rosanna delivers tax compliance and consulting services to a broad range of multi-state entity types, such as corporations, partnerships and limited liability companies. She is experienced in a wide variety of industries including manufacturing, software development, high-tech, biotechnology, pharmaceuticals, wholesale/distribution, retail and service.

Rosanna has significant expertise in FAS 109 Accounting for Income Taxes, FIN 48 Accounting for Uncertainty in Income Taxes analysis, multi-jurisdictional tax planning and IRC Section 382 consulting. Additionally, she assists companies in making the appropriate tax elections and establishing a structure that will minimize income tax expense.

Prior to MFA, Rosanna worked five years with PricewaterhouseCoopers focusing on the Boston middle market and high technology fields.]]></description>
			<pubDate>Tue, 24 Jun 2008 10:24:03 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[New Blog Author Stephen Kirkland]]></title>
			<guid>http://www.cpa-resource.com/blog/stephenkirkland/</guid>
			<link>http://www.cpa-resource.com/blog/stephenkirkland/</link>
			<description><![CDATA[Stephen D. Kirkland, CPA, CMC, CFC is a compensation consultant with Atlantic Executive Consulting Group, LLC, based in Columbia, South Carolina.  He helps businesses and tax-exempt organizations structure compensation plans for their executives.  He also serves as an expert witness in U.S. Tax Court cases involving the reasonableness of executive compensation across the United States.  He can be reached through www.ReasonableComp.biz .]]></description>
			<pubDate>Thu, 05 Jun 2008 07:45:12 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[New Blog Author Janna Shearman]]></title>
			<guid>http://www.cpa-resource.com/blog/jannashearman/</guid>
			<link>http://www.cpa-resource.com/blog/jannashearman/</link>
			<description><![CDATA[Janna Shearman is vice president and manager of the Louisiana office of First American Exchange Company, a division of The First American Corporation (NYSE: FAF), Americas largest provider of business information.  She has worked in the exchange industry since 2004 and has attained the designation of Certified Exchange Specialist?.  As a frequent lecturer on 1031 exchanges, she provides continuing education credit courses for attorneys, accountants, title insurance agents, and Realtors?.  Ms. Shearman facilitates all types of 1031 tax-deferred exchanges, including simultaneous, delayed, reverse, and construction exchanges of both real and personal property.  She has had articles published in several trade journals.  Before joining First American Exchange, she worked as a commercial real estate paralegal and licensed title insurance agent.  She is a member of the New Orleans chapter of Commercial Real Estate Women and currently serves on the Programs Committee and is also a member of the Federation of Exchange Accommodators.  Janna delights in delivering personalized service to clients, backed by the financial security and strength of a Fortune 500? parent company.  She can be reached at 800-247-4035 or jashearman@firstam.com.]]></description>
			<pubDate>Fri, 16 May 2008 08:54:05 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[New Blog Author Eric Odum]]></title>
			<guid>http://www.cpa-resource.com/blog/ericodum/</guid>
			<link>http://www.cpa-resource.com/blog/ericodum/</link>
			<description><![CDATA[Eric Odum is a veteran in the real estate and financial services industry with over 13 years of experience.  Mr. Odum holds a Masters in International Business in Finance from the University of South Carolina (consistently ranked as one of the top International Business Schools by US News and World report).

He is a real estate agent in the State of Florida, focusing on cash flow income property investments, IRS Code Section 1031 real estate exchanges and other tax-advantaged real estate strategies.  Mr. Odum is an active participant in several real estate trade associations, such as the International Association of Shopping Centers (ICSC), Tenants in Common Association (TICA), and the National Association of Realtors.]]></description>
			<pubDate>Wed, 16 Apr 2008 11:43:53 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[New Blog Author Charlotte Kuhn]]></title>
			<guid>http://www.cpa-resource.com/blog/charlottekuhn/</guid>
			<link>http://www.cpa-resource.com/blog/charlottekuhn/</link>
			<description><![CDATA[Charlotte Kuhn is a RIM specialist, presenter and educator in the area of Records Management for Inactive Records Storage.   Her expertises are in, archival records, vital records, inactive record storage, personnel and medical files and secure shredding.  She is a Lorman presenter on writing a records retention program for small businesses.  Charlotte has a B.S. in education from the University of Missouri St. Louis with teacher certification and a CPS certification from IAAP.  She is a member of ASLAA, SAA, IAAP, and ARMA.  She is currently working on her certification for CRM.  She earned the SELECT award from her company for excellence in her roll as records coordinator.   She has dealt with mergers, acquisitions, and spin-offs in relation to records and their ownership and storage.   She also writes retention schedules for insertion into web interfaces.   Charlotte currently works for a fortune 500 company and covers the records retention for inactive storage for all of North America.]]></description>
			<pubDate>Wed, 02 Apr 2008 08:11:46 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[New Blog Author Langdon Owen]]></title>
			<guid>http://www.cpa-resource.com/blog/langdonowen/</guid>
			<link>http://www.cpa-resource.com/blog/langdonowen/</link>
			<description><![CDATA[Langdon T. Owen, Jr. is a member of the law firm of Parsons Kinghorn Harris, p.c. in Salt Lake City, Utah. Mr. Owen is a transactional lawyer who practices in the areas of estate and tax planning, business and commercial transactions involving both corporate and partnership taxed enterprises (including tax, employment, and benefit issues relating to such transactions),  loans and creditors' workouts, pension and profit sharing plans, health care law, probate, and real estate. He has practiced law since 1977.  He has published articles and spoken to a variety of bar, accounting, and business and professional groups on a number of tax and estate planning issues.  He holds a Juris Doctor degree from the University of Utah (1977) and a Bachelor of Arts degree from the University of California, Berkeley (1973, with great distinction).  He was a Comment Editor of the Utah Law Review (1975-1977).   Mr. Owen has served as an arbitrator for the Utah State Bar Fee Arbitration Committee, FINRA (formerly the National Association of Securities Dealers and New York Stock Exchange), the American Health Lawyers Association, the American Arbitration Association, and the National Arbitration Forum.]]></description>
			<pubDate>Thu, 27 Mar 2008 14:03:59 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[New Blog Author Scott Saunders]]></title>
			<guid>http://www.cpa-resource.com/blog/scottsaunders/</guid>
			<link>http://www.cpa-resource.com/blog/scottsaunders/</link>
			<description><![CDATA[Scott R. Saunders, Senior Vice President with Asset Preservation, Inc. Scott has an extensive background in Internal Revenue Code ?1031 tax deferred exchanges, having been involved in structuring and overseeing over 50,000 transactions during his sixteen years in the exchange industry. Asset Preservation, a subsidiary of Stewart Title Company, is a leading national IRC ?1031 ?Qualified Intermediary? and has successfully completed over 130,000 1031 exchanges throughout the nation.

Scott dedicates a significant portion of his time speaking to accountants, attorneys, real estate brokers and principals nationwide. He has spoken at the annual National Bar Association conference, Colorado Association of Realtors, GMAC Real Estates Annual Convention, Ohio Bar Association, Washington D.C. Bar Association and many other state and local associations. In addition, he is a regular presenter of 8-hour C.L.E. approved classes to attorneys and CPAs arranged by Lorman Education.

In addition to being an accredited speaker in numerous states, Scott has been on the Board of Directors for the Federation of Exchange Accommodators, the national trade association, and was a contributing author to the book Real Estate Exchanges: Using the Tax Deferred Exchange in Real Estate Investment Management.

Scott received his bachelor degree in Business Economics from the University of California at Santa Barbara.]]></description>
			<pubDate>Thu, 27 Mar 2008 14:00:25 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[New Blog Author Monica Williams]]></title>
			<guid>http://www.cpa-resource.com/blog/monicawilliams/</guid>
			<link>http://www.cpa-resource.com/blog/monicawilliams/</link>
			<description><![CDATA[Monica Williams is principal in Monica B. Williams Co. LPA, a firm focusing on business transactions for privately held companies. She works with business owners who want to avoid the legal potholes involved in buying/selling a business. Her experience ranges from a $100,000 sale of a steel service companys assets to a $44M acquisition of a tool manufacturer. She advises on legal aspects of company restructurings, mergers and acquisitions and works with tax and accounting professionals to structure transactions to protect and benefit clients. 

Before forming her own firm, Ms. Williams served as an in-house counsel for nine years for a major financial services holding company, where she concentrated on mergers and acquisitions, with related work in securities and corporate law. She has taught as an adjunct professor at Cleveland Marshall College of Law, where she developed and taught a course on small business enterprises. Ms. Williams is the author of four texts and numerous monographs on limited liability companies, partnerships and corporations. She has 20+ years of experience. She is legal counsel to the Cleveland Chapter of American Women in the Metal Industries and is a member of the Ohio Bar Association. She received her B.S. degree summa cum laude from Ohio University and her J.D. with cum laude from Cleveland Marshall College of Law, Cleveland State University.]]></description>
			<pubDate>Mon, 03 Dec 2007 14:32:35 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[New Blog Author Dru Beguelin]]></title>
			<guid>http://www.cpa-resource.com/blog/drubeguelin/</guid>
			<link>http://www.cpa-resource.com/blog/drubeguelin/</link>
			<description><![CDATA[Dru Beguelin is a Partner at A-SALT Group, LLC where he is a member of a growing practice in the state and local tax arena. A-SALT Group is a dynamic company comprised of professional individuals who bring over 38 years of combined state and local tax experience to bear on your tax needs. His company offers a variety of services focused in the area of Sales and Use Tax, Canadian Sales Tax, and Property Tax. He is confident that their service, experience, passion, and understanding make them superior in the state and local tax consulting field. Dru does not service clients in a cookie cutter fashion. Instead, he tailors services to fit their needs. His focus is to listen to our clients issues and concerns, getting to know their business and how it operates, recommending solutions that are cost effective and make sound business sense. His group acts as an extension of their department. Dru has been in the state and local tax area for over twenty-five years. His professional experience started in the corporate sector where he worked for British Petroleum of North America, Inc. (BP). He served as company representative on the Trans Alaskan Pipeline System Tax Subcommittee. He also gained experience managing the tax planning, research, audits and compliance for The BOC Group, Inc. He then switched sides of the table to be a consultant working with such companies as DuCharme, McMillen & Associates, Inc., as Northeast Regional Director of the State and Local Tax Division, and Burr Wolff as Northeast Vice President of Sales & Use Tax Services, where he worked closely with clients to develop and implement tax-planning strategies that resulted in future savings, and in the review of sales & use tax matters including automated compliance software, compliance agreements and managed audits. Dru's tax consulting experience includes manufacturing, retail, wholesale, leasing, telecommunications, oil and gas, and transportation. Dru holds a Bachelor of Arts in Accounting from Thomas Edison State College. Dru is a Vertex Certified TDM Specialist and has had formal Taxware training. Dru is a member of the Institute for professionals in Taxation (IPT).]]></description>
			<pubDate>Fri, 02 Nov 2007 12:41:43 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[New Blog Author Stuart Freeland]]></title>
			<guid>http://www.cpa-resource.com/blog/stuartfreeland/</guid>
			<link>http://www.cpa-resource.com/blog/stuartfreeland/</link>
			<description><![CDATA[Mr. Freeland represents businesses and institutions both as outside general counsel and in a broad range of transactions, particularly real estate related activities.  His clients include a major Boston area university, real estate development firms and organizations involved in a variety of business activities. Mr. Freeland assists clients to organize and operate their businesses in a tax efficient manner.  

Notable Experience
Represents clients in the formation of all types of business enterprises, including corporations, limited liability companies, joint ventures and partnerships, including advice regarding selection of the appropriate business entity; 

Advises individuals and organizations regarding federal and state income tax consequences of business transactions and investments, including tax free exchanges; 
Represents clients in the purchase and sale of businesses, including asset and stock transactions, leasing and problems of ownership; 

Represents clients in commercial real estate transactions including purchase and sale, leasing and financing arrangements; 
Prepares shareholder and stock redemption agreements; 

Represents clients regarding corporate reorganizations; 

Represents clients regarding private offerings of securities; 

Represents clients in debt financing transactions, including asset based loans and mortgage loans; 

Counsels clients in employment and consulting arrangements, including confidentiality and non competition agreements.]]></description>
			<pubDate>Fri, 02 Nov 2007 11:15:51 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[New Blog Author Doug H. Moy]]></title>
			<guid>http://www.cpa-resource.com/blog/doug h.moy/</guid>
			<link>http://www.cpa-resource.com/blog/doug h.moy/</link>
			<description><![CDATA[Doug H. Moy is a nationally recognized author, consulting specialist, seminar instructor and educator. He has an undergraduate degree from Willamette University and a Masters degree from Washington State University. Since 1979, Mr. Moy has consulted to attorneys, tax practitioners and their clients, as well as assisted practitioners representing clients before the IRS Conference of Right and Appeals Division and Settlement Conference Negotiations. He is noted for his ability to communicate his unparalleled knowledge and experience to practitioners at all levels in his field of expertise; namely, estate/gift taxation and planning, with special expertise in living trusts; community property; lottery prize winnings; structured settlement trusts; extricating clients from abusive trust tax shelters; designing effective estate plans; and preparation of Form 706 Estate Tax Returns and 709 Gift Tax Returns. He offers particular assistance and exceptional skill designing creative, practical solutions to challenging and difficult estate planning situations.

Mr. Moy was instrumental in obtaining from the Oregon Department of Revenue the first declaratory rulings favorably issued in regard to Oregon lottery prize winners, involving the transfer of payments to a revocable living trust. A highly sought after educator, having been keynote speaker at thirteen consecutive annual national estate and gift tax conferences for the National Society of Accountants (NSA), Mr. Moy also designed and coordinated twelve of those conferences. He has taught at many tax conferences for the National Association of Tax Professionals (NATP) and teaches continuing professional education courses at Portland Community College to CPAs, accountants, Enrolled Agents and insurance producers.

A former member of NSAs prestigious Federal Taxation Committee, Mr. Moy has been the recipient of the ?Golden Quill Award,? presented by the NSA in recognition of his outstanding contributions to the education offerings of the Society. He has also been recipient of the ?Speaker of the Year Award,? presented by NSA in recognition of having attained the highest rating as a speaker at any educational conference during the year. To date, Mr. Moy remains the only person to have ever been honored with both awards in the same year and the only person to have been awarded the ?Golden Quill Award? within two consecutive years. Further, he designed and taught the most successful ?Seminar at Sea? ever offered by NSA. 

Author of the NSAs position paper Proposed Repeal of the Federal Estate, Gift and Generation-Skipping Transfer Tax, which was prepared for presentation to Congress and adopted by the NSA as its official position on the subject, Mr. Moy also authored the NSAs position paper Income Taxation of Trusts and Estates, which was additionally adopted by NSAs Board of Governors as its official position.

An author for both Aspen Publishers and John Wiley & Sons, having authored nine books to date, including Living Trusts; and Wealth Preservation: How to Start and Develop an Estate Planning Practice, he has also been published frequently in Tax Management Estates, Gifts and Trusts Journal; National Public Accountant; The Monthly Digest of Tax Articles; and TAXPRO Journal. Mr. Moy is a former faculty member for the College for Financial Planning and served on its Curriculum Advisory Board. He is an active member of NATP and an instructor on the Lorman Education Services faculty. He has served on several community-affiliated boards of trustees, including the Meridian Park Hospital Medical Foundation; Loaves & Fishes, Inc.; and the Lake Oswego Public Library.]]></description>
			<pubDate>Fri, 19 Oct 2007 14:23:13 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[New Blog Author Cynthia Umphrey]]></title>
			<guid>http://www.cpa-resource.com/blog/cynthiaumphrey/</guid>
			<link>http://www.cpa-resource.com/blog/cynthiaumphrey/</link>
			<description><![CDATA[Cynthia Umphrey helps families and business owners make significant personal and professional life decisions. Ms. Umphrey calls upon over 10 years of experience in estate planning, probate administration, business structuring and business exit planning to guide you though lifes most important choices.

Estate Planning & Post-death Administration: Ms. Umphrey walks her clients through the entire estate planning process with care. Some concerns she will help you resolve include: how to set aside money and assets for your family, who should make decisions for you if you are incapacitated, and who should care for your children if you are unable to do so. She will ensure your future plans are followed as much as possible without court interference.

Business Planning: Ms. Umphrey understands that business owners are faced with day-to-day questions as well as major quandaries. She handles everything from troubleshooting on employee or collections issues to engaging in strategic planning and protecting your family and business in the event of a death. Ms. Umphrey works proactively to create a plan that puts you in the best possible legal and financial position now and in the future.

Exit Planning: As an exit planning strategist, Ms. Umphrey helps owners of closely held businesses scale back their involvement, retire or transition their companies to new owners. Her transition plans allow owners to leave their businesses on their own terms and maximize the value received, or to keep their businesses as a source of income even as they retire. Techniques involved in this process can include: mediation of family issues; creation of incentives to key employees; tax advantaged sale or purchase of businesses; sophisticated gifting strategies; legal audit; and solving legal and tax problems before they become critical.

PRACTICE AREAS:
Business Law, Exit Planning, Estate Planning and Probate

EDUCATION:
B.A., Oakland University, magna cum laude J.D., University of Michigan, cum laude
BAR ADMISSIONS:
State Bar of Michigan

MEMBERSHIPS:
State Bar of Michigan (Council Member, Business Law Section) Oakland County Bar Association Member of The Institute of Continuing Legal Educations Business Law Advisory Board

OTHER ACTIVITIES:
Ms. Umphrey is a frequent lecturer for The Institute of Continuing Legal Education, Lorman Education Services, the National Business Institute and other organizations. The Detroit Legal News, the Oakland Legal Press and Bottom Line Business Publications have published or quoted her articles and she has appeared on the Business Reality Network.]]></description>
			<pubDate>Fri, 05 Oct 2007 09:53:34 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[New Blog Author David Dorfman]]></title>
			<guid>http://www.cpa-resource.com/blog/daviddorfman/</guid>
			<link>http://www.cpa-resource.com/blog/daviddorfman/</link>
			<description><![CDATA[David Alan Dorfman is a founding member of the New York Chapter of the National Academy of Elder Law Attorneys.  He has a dynamic, growing office practicing Elder Law including Medicaid and Medicare, Trusts, Estate Planning and Administration, Guardianships and Advanced Directives.  A holistic approach assures meeting the legal needs of our clients.  Committed to the highest standards of professional performance since its inception, our reputation for excellence is earned.

David Alan Dorfman received his B.A. with honors from Boston University in May 1988 and his J.D. from Boston University School of Law in May 1991 and participated in an L.L.M. program concentrating in Health Law at New York University School of Law in 1993. 

He has held leadership positions as the Chair of the Young Lawyers Sections of the New York County Lawyers Association and the Brooklyn Bar Association. He serves on the Public Relations Committee of the National Academy of Elder Law Attorneys and is a member of the National Association of Long-Term Care Professionals, the Elder Law Section of the New York State Bar Association and serves on the Committee on Legal Problems of the Aging at the Association of the Bar of the City of New York.

Publications include articles that have appeared in the National Academy of Elder Law Attorneys News, The Elder Law Attorney, the Brooklyn Barrister and Lawyers Cooperative Publishing's Serving Elderly Clients.]]></description>
			<pubDate>Thu, 13 Sep 2007 16:29:00 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[New Blog Author Jacob Stein]]></title>
			<guid>http://www.cpa-resource.com/blog/jacobstein/</guid>
			<link>http://www.cpa-resource.com/blog/jacobstein/</link>
			<description><![CDATA[Mr. Stein is a partner with the law firm Boldra, Klueger and Stein, LLP, in Los Angeles, California.  The firms practice is limited to asset protection, domestic and international tax planning, and structuring complex business transactions.  The firms goal is to provide the highest quality legal work that is usually associated with only the biggest law firms, in a boutique firm setting.

Jacob received his law degree from the University of Southern California, and his Masters of Law in Taxation from Georgetown University.  Mr. Stein has been accredited by the State Bar of California as a Certified Tax Law Specialist and is AV-rated (highest possible rating) by Martindale-Hubbell.

In the arena of asset protection, Mr. Stein assists high net-worth individuals and successful businesses in protecting their assets from plaintiffs and creditors by focusing on properly structuring asset ownership and business structures and operations. 

In the arena of tax planning, Mr. Stein structures complex domestic and offshore income and estate tax planning transactions.

Mr. Stein is an author of numerous tax and asset protection articles and a frequent lecturer to various attorney, CPA and other professional groups on topics ranging from asset protection to choice of entity planning, and offshore tax planning to advanced real estate exit strategies.  Jacob is an instructor with the California CPA Education Foundation, National Business Institute and Lorman Education Services, teaching courses on advanced tax planning, asset protection and trust law.  He is an adjunct professor oftaxation at the CSU, Northridge Graduate Tax Program.  He is the past-chair of the Tax Section of the San Fernando Valley Bar Association, and a member of the tax sections of the American, California and Los Angeles County Bar Associations. ]]></description>
			<pubDate>Wed, 12 Sep 2007 16:37:07 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[New Blog Author Frank Rudewicz]]></title>
			<guid>http://www.cpa-resource.com/blog/frankrudewicz/</guid>
			<link>http://www.cpa-resource.com/blog/frankrudewicz/</link>
			<description><![CDATA[Frank Rudewicz is a Managing Director in the Boston office of BDO Consulting.  He is an attorney, as well as a licensed private investigator and holds Certified Anti-Money Laundering Specialist and Certified Protection Professional designations. He has more than twenty-six years of experience providing litigation support services including investigating fraud, workplace incidents and employee misconduct. He has also been appointed a Compliance & Ethics Monitor for a number of organizations within the construction, government and environmental industries. Mr. Rudewicz manages BDO Consultings Boston office.

 

Expertise & Career Highlights - 
Mr. Rudewicz has been featured on Forensic Files for his investigation and subsequent conviction of an individual responsible for a $6 million dollar international insurance fraud. 
In addition to investigating employee misconduct for a variety of entities, Mr. Rudewicz has conducted independent investigations of numerous law enforcement agencies concerning allegations of racial profiling, officer misconduct and departmental practices.  
Mr. Rudewicz has testified in local, state and federal courts as to the reasonableness of protection measures for trade secrets, workplace violence, security and investigative matters. 
As a recognized expert on security, investigations and workplace violence prevention, he has been retained to design and conduct training and compliance programs throughout the country.  
Prior to BDO Consulting, Mr. Rudewicz was a Practice Leader of a national forensic and litigation support firm, a Senior Managing Director of an international investigative consulting firm, a Director of Corporate Security and Emergency Management for a large financial institution, and had a lengthy career in law enforcement. 

Professional Affiliations - 
Association of Corporate Counsel America, CT, Board of Directors
Turnaround Management Association
American Bar Association
Association of Certified Anti-Money Laundering Specialists
Association of Certified Fraud Examiners
American Society for Industrial Security]]></description>
			<pubDate>Tue, 21 Aug 2007 16:32:22 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Related Party Issues in 1031 Exchanges: A Look at Teruya Brothers v. Comm.]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1778</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1778</link>
			<description><![CDATA[The related party rules in a 1031 exchange say that if someone exchanges with a related party, and the related party sells the property within two years, the transaction is disqualified from the tax deferral benefits of &sect;1031. This article look at the related party rules in light of Teruya Brother v. Comm.]]></description>
			<pubDate>Fri, 05 Mar 2010 10:13:23 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[TO HAVE AND HOLD FOR INVESTMENT UNDER SECTION 1031]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1777</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1777</link>
			<description><![CDATA[A discussion of Partnership/LLC issues in a 1031 exchange along with an analysis of the Oregon Department of Revenue v. Marks, Or Tax (2009). Co-authored by Jonathan Christianson, Esq., Counsel for Asset Preservation.]]></description>
			<pubDate>Fri, 05 Mar 2010 10:09:11 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Cautious Optimism as Ninth Circuit Withdraws "Xilinx" Decision]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1760</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1760</link>
			<description><![CDATA[On January 13, the U.S. Court of Appeals for the Ninth Circuit withdrew the
opinion and dissent filed on May 27, 2009 in Xilinx, Inc. v.
Commissioner. The Xilinx decision has far-ranging
implications for cost-sharing structures under Section 482 of the Internal
Revenue Code (IRC), and transfer pricing in general. Today&rsquo;s news is
met with cautious optimism, as it is not yet clear what the court intends
to do. Nonetheless, the withdrawal is welcomed at this point based on the
fact that the Ninth Circuit&rsquo;s priordecision was the target of
widespread criticism by taxpayers and the tax bar.]]></description>
			<pubDate>Tue, 09 Feb 2010 08:05:35 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[IRS Announces It Will Require the Disclosure of Uncertain Tax Positions]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1763</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1763</link>
			<description><![CDATA[In a speech&nbsp;January 26, 2010&nbsp;before the New York State Bar
Association, IRS Commissioner Douglas Shulman announced that, for certain
corporations and other business taxpayers, it will require disclosure of
uncertain tax positions on tax returns, but that it is otherwise retaining
its policy of restraint on requesting tax accrual workpapers.]]></description>
			<pubDate>Tue, 09 Feb 2010 08:05:30 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Ready, Set, Convert...to a Roth IRA]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1762</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1762</link>
			<description><![CDATA[Taxpayers who convert a traditional IRA into a Roth IRA can enjoy a
number of tax advantages, which are described below.&nbsp; However,
there's always been a problem for higher-income folks. You couldn't
convert a traditional IRA into a Roth in a year when your modified
adjusted gross income (MAGI) exceeded $100,000. The good news is the
$100,000 restriction has disappeared. You can now convert a traditional
IRA into a Roth no matter how high your income (assuming Congress doesn't
change the law).]]></description>
			<pubDate>Tue, 09 Feb 2010 08:05:23 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[New Obligations to Self-Report Excise Taxes for Group Health Plan Failures]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1761</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1761</link>
			<description><![CDATA[Until now, no mandate or procedure has existed for employers to self-report
excise taxes due under the Internal Revenue Code for violations of the
duties imposed by COBRA, HIPAA and other laws relating to group health
plans.&nbsp; The IRS has seldom assessed these excise taxes on audit. ]]></description>
			<pubDate>Tue, 09 Feb 2010 08:05:14 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Estate Tax Repealed - But for How Long?]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1712</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1712</link>
			<description><![CDATA[Literally, barring a late eleventh-hour passage of a critical extension by
the U.S. Senate, the federal estate tax is repealed for decedents whose
deaths occur in 2010. On December 16, 2009, the U.S. Senate failed to
extend the federal estate and generation-skipping transfer taxes to 2011. ]]></description>
			<pubDate>Mon, 01 Feb 2010 16:35:24 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Tax Legislation Fills End-of-year Congressional Agenda]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1725</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1725</link>
			<description><![CDATA[Several major tax bills are set for consideration as the congressional
calendar winds down for 2009. Some of these items could slip into 2010,
while others are likely to be wrapped up before the end of the year.]]></description>
			<pubDate>Mon, 01 Feb 2010 16:35:13 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Gift Card Management - When Income Tax and State Unclaimed Property Laws Converge]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1730</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1730</link>
			<description><![CDATA[When Income Tax and State Unclaimed Property Laws ConvergeAs we head
into the 2009 holiday shopping season, the popularity of gift card
programs for retailers, restaurants and other hospitality businesses and
their customers becomes apparent. &quot;Breakage,&quot; that portion of
gift card balances that are not redeemed for food, beverage or
merchandise, also can be an important short-term cash flow benefit for the
card issuer. Yet, a number of States will treat unredeemed gift card
balances as unclaimed property.]]></description>
			<pubDate>Mon, 01 Feb 2010 16:35:04 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[The Three Categories of Meal and Entertainment Expenses]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1729</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1729</link>
			<description><![CDATA[As you record and document the expenses in your business, a common sticking
point occurs when trying to determine meal and entertainment expenses that
are nondeductible, 50 percent deductible and 100 percent deductible. To
help ease recordkeeping for both you and your employees, consider
establishing these three separate expense categories within your company's
expense report.]]></description>
			<pubDate>Mon, 01 Feb 2010 16:34:54 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Tax-Planning Strategies for Stock Market Gains]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1728</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1728</link>
			<description><![CDATA[Few can be pleased with the stock market's performance over the last year
or so. However, the market's recent rebound has raised the question of
whether now is the time to capitalize on some of those newly realized
gains on stocks purchased during the downturn. While taxes should not be
the main factor in this decision, they should be considered, given that
taxes can significantly impact the investment return.]]></description>
			<pubDate>Mon, 01 Feb 2010 16:34:48 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[IRS Will Audit 6,000 Companies - Make Sure Your Employment Taxes Are In Order]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1727</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1727</link>
			<description><![CDATA[An employment tax audit may be in your very near future. In an interview
given to Bloomberg by John Tuzynski, IRS Chief of Employment Tax
Operations, on September 18, 2009, Tuzynski said that the IRS will spend
three years auditing 6,000 companies beginning in February 2010. The
companies will be selected at random and will include large and small
companies. They will be selected from across many different industries.
This marks the first comprehensive examination of employment tax issues by
the IRS since 1984.]]></description>
			<pubDate>Mon, 01 Feb 2010 16:34:37 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[10 Tips to Ensure Year-End Charitable Contributions Can Be Deducted]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1726</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1726</link>
			<description><![CDATA[The year-end charitable giving season is upon us, and Grant Thornton LLPwants to make sure Americans don't miss out on the federal tax rewardsavailable for their charitable contributions.&nbsp; "Generosity isits own reward, but that doesn't mean you should miss out on the taxbenefits of your gifts," said Justin Ransome, a partner in GrantThornton's National Tax Office. "Many people don't realize howdetailed the charitable giving rules actually are."]]></description>
			<pubDate>Mon, 01 Feb 2010 16:33:48 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[IRS Removes Roadblock to Modifying Securitized Loans]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1734</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1734</link>
			<description><![CDATA[On September 16, 2009, the Internal Revenue Service (IRS) attempted to
remove one of the many roadblocks to modifying securitized loans that are
not yet in default but are likely to be in default at or prior to
maturity. Revenue Procedure 2009-45 provides a safe harbor allowing real
estate mortgage investment conduits (REMIC) to modify certain mortgage
loans without triggering certain negative tax consequences to the REMIC.]]></description>
			<pubDate>Mon, 01 Feb 2010 16:33:21 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[What's Ahead for International Accounting Standards?]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1733</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1733</link>
			<description><![CDATA[The Securities and Exchange Commission has established a"roadmap" with 2014 as the year when companies that currentlyissue 10-K reports must convert to International Financial ReportingStandards (IFRS).]]></description>
			<pubDate>Mon, 01 Feb 2010 16:33:12 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Family Entities Continue as Viable Planning Tool]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1732</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1732</link>
			<description><![CDATA[Two recently-litigated taxpayer victories underscore the continuing
viability of family entities (family limited partnerships or LLCs, or
FLPs) as an estate planning tool. These entities serve the purpose of
organizing management and control of family assets, and at the same time
typically generate estate and gift tax discounts on transferred shares of
the entity. Although the Obama Administration proposed earlier this year
that the discounts generated by family entities should be reduced or
eliminated, these cases indicate that current law still respects the
advantages, both tax and non-tax, that can be achieved through these
entities.]]></description>
			<pubDate>Mon, 01 Feb 2010 16:32:02 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[To Defer or Postpone, That is the Question "Exchanges Over Two Tax Years May Be Treated as an Installment Sale"]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1731</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1731</link>
			<description><![CDATA[In a delayed exchange transaction structured to satisfy the requirements of
&sect;1031, an exchanger has up to 180 calendar days to acquire like-kind
replacement property measured from the day the relinquished property is
sold. Once initiated, the delayed exchange may be successfully completed
(resulting in complete tax deferral), partially completed (resulting in
recognition of some capital gain) or it may fail if no like-kind
replacement property is acquired (resulting in the recognition of all
capital gain generated by the sale).]]></description>
			<pubDate>Mon, 01 Feb 2010 16:31:54 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Proposed Legislation Would Subject Offshore Investments and Foreign Entities to Significant New Reporting and Withholding Requirements]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1714</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1714</link>
			<description><![CDATA[The Foreign Account Tax Compliance Act of 2009 (H.R. 3933 and S. 1934) was
introduced on October 27 by Senate Finance Committee Chair Max Baucus
(D-Mont.) and Ways and Means Committee Chair Charles B. Rangel (D-NY). The
proposed legislation, which is projected to raise $8.5 billion over 10
years, revitalizes previously introduced anti-tax haven legislation that
aims to prevent the use of offshore entities to avoid U.S. taxation of
income and assets. President Obama and Treasury Secretary Geithner have
already endorsed the proposal.]]></description>
			<pubDate>Tue, 12 Jan 2010 11:55:27 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Have a Small Business? Access Up to $35,000 Interest-Free from SBA]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1713</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1713</link>
			<description><![CDATA[Since September, the Small Business Administration has been offering the
America's Recovery Capital loan program, or ARC, as part of its economic
recovery efforts. ARC loans provide an immediate infusion of capital to
small businesses to assist with making payments of principal and interest
on existing debt. These loans allow borrowers to redirect cash flow from
making loan payments to investing in their businesses, to help sustain the
business and retain jobs. For example, making loan payments on existing
loans with proceeds from an ARC loan can allow a business to focus more
funds on core operations, such as buying inventory or making payroll.
Loans for up to $35,000 are available.]]></description>
			<pubDate>Tue, 12 Jan 2010 11:55:26 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Estate Tax Repealed--But for How Long?]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1703</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1703</link>
			<description><![CDATA[Barring a late 11th-hour passage of a critical extension by the U.S. Senate, the federal estate tax is repealed for decedents whose deaths occur in 2010.]]></description>
			<pubDate>Mon, 21 Dec 2009 12:31:58 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Deferring Gain on Condemned Property - 1033 Exchanges]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1701</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1701</link>
			<description><![CDATA[Sometimes an owner of property can lose that property through a casualty, theft or condemnation, and realize gain because the insurance or condemnation proceeds exceed the owner&rsquo;s tax basis in the property.&nbsp; In these cases, even though the owner did not want to dispose of the property, a tax liability is created.&nbsp; It is possible, however, to defer paying tax on the gain by doing a 1033 exchange.]]></description>
			<pubDate>Tue, 15 Dec 2009 12:47:38 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Seller Financing... Useful Strategies in a 1031 Exchange]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1467</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1467</link>
			<description><![CDATA[In the current lending environment seller financing may be an option that benefits both the buyer and the seller. When an Exchangor sells property and wants to provide seller carryback financing to the buyer and also take advantage of the tax deferral of a 1031 exchange, the Exchangor has several options.]]></description>
			<pubDate>Tue, 15 Dec 2009 12:47:14 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Expatriation to Avoid Taxation]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1678</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1678</link>
			<description><![CDATA[We've noticed an interesting trend lately: more and more clients are asking
about EXPATRIATION options. They feel that they are paying too much in
taxes, their taxes will keep increasing, and the benefits of U.S.
citizenship or a green card just aren't worth the burden of taxes.
Cognizant that many foreign countries are excellent places to live, and
don't have tax regimes as onerous as that of the U.S., clients envision a
low-tax lifestyle in Europe, the Caribbean or elsewhere.]]></description>
			<pubDate>Mon, 30 Nov 2009 11:21:08 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Update on Proposed Changes to Federal Estate Tax Law]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1677</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1677</link>
			<description><![CDATA[Summer has given way to fall, and Congress has returned from its August
recess. In addition to facing other substantial initiatives, it has less
than three months to address federal estate tax law. Current federal
estate tax law provides each individual dying in 2009 with a $3.5 million
federal estate tax exemption and establishes a maximum federal estate tax
rate of 45 percent. If Congress does not act prior to January 1, 2010, the
federal estate tax temporarily would expire for 2010&mdash;each individual
dying in 2010 would have an unlimited federal estate tax exemption for
that year.]]></description>
			<pubDate>Mon, 30 Nov 2009 11:20:56 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Retirement Plans for Small Businesses - Penalty Assessments Causing Unintended Fear]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1679</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1679</link>
			<description><![CDATA[In light of recent penalties imposed relating to retirement plan
deductions, is it prudent for a business to adopt a retirement plan?&nbsp;
To an experienced tax practitioner, this may seem like a ridiculous
question.&nbsp; We recognize the benefit of getting current tax deductions
combined with tax deferred growth in the funds (assuming positive
investment returns).&nbsp; Additionally, we realize that a deferred
benefit plan for an older employee-owner can legally defer almost $200,000
of income for that individual. So why did one of my clients recently come
to me, expressing discomfort with even considering this strategy?]]></description>
			<pubDate>Mon, 30 Nov 2009 11:20:38 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Speed Up Payment on Receivables]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1676</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1676</link>
			<description><![CDATA[Receivables don't have much value if they aren't turned into cash.&nbsp;
Your company really needs to keep tight control on its invoices
outstanding so you can get an accurate picture of the receivables
situation and take steps to improve the turnover of those accounts.]]></description>
			<pubDate>Mon, 30 Nov 2009 11:20:11 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Expatriation to Avoid Taxation]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1668</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1668</link>
			<description><![CDATA[We've noticed an interesting trend lately: more and more clients are asking about EXPATRIATION options. They feel that they are paying too much in taxes, their taxes will keep increasing, and the benefits of U.S. citizenship or a green card just aren't worth the burden of taxes. Cognizant that many foreign countries are excellent places to live, and don't have tax regimes as onerous as that of the U.S., clients envision a low-tax lifestyle in Europe, the Caribbean or elsewhere.]]></description>
			<pubDate>Tue, 29 Sep 2009 11:21:51 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Is Sarbanes-Oxley Really Having An Effect On Fraud?]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1667</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1667</link>
			<description><![CDATA[When Sarbanes-Oxley regulations were created, their sole purpose was to restore the integrity and faith back with corporations and executives that were caught up in the many fraud scandals brought on by Tyco, Enron, and such. Yet, surprisingly to learn, many companies have done little to change their prevention and monitoring of fraudulent acts. This makes many wonder, "Is Sarbanes-Oxley an effective tool where fraud prevention is concerned?"]]></description>
			<pubDate>Tue, 29 Sep 2009 11:18:32 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Employers Paying Severance Have Opportunity to Reduce FICA Taxes]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1646</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1646</link>
			<description><![CDATA[The current economic climate has caused many employers to institute
reductions in force. In doing so, employers often provide their former
employees with severance pay in an effort to soften the impact of
unemployment. Normally, both the employer and the employee recipient incur
taxes imposed by the Federal Insurance Contributions Act
(&quot;FICA&quot;)1 on these payments. However, it is possible
for both employers and employees to reduce FICA taxes by structuring some
or all of these severance payments as supplemental unemployment benefit
payments (&quot;SUB-Pay&quot;).]]></description>
			<pubDate>Mon, 21 Sep 2009 12:27:23 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Can You Shield Work Papers From the IRS?  Understanding the Boundaries of the "Work Product Doctrine"]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1647</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1647</link>
			<description><![CDATA[A controversial new court case has led to anxiety at some corporations
around the country. The decision, by the First Circuit U.S. Court of
Appeals, stated that the IRS can peruse a company's internal tax accrual
work papers created to determine if it could withstand an IRS audit.]]></description>
			<pubDate>Mon, 21 Sep 2009 12:27:18 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Waiting For a Tax Garnishment - Ouch That Hurts!]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1538</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1538</link>
			<description><![CDATA[One of the worst things that can happen if you are a tax debtor is an IRS garnishment or tax levy. Tax debtors can go for
years before IRS collection activities finally catch up to them. It seems
the sluggish bureaucracy lulls one into a false sense of security. While
the delay from tax due to tax levy may be sluggish, the action of a tax
garnishment is not. In fact, it may be the harshest financial event you
ever experience and should be avoided if at all possible.]]></description>
			<pubDate>Thu, 17 Sep 2009 13:30:04 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Justify Salaries with Facts and Data]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1541</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1541</link>
			<description><![CDATA[The IRS sometimes challenges the compensation of corporate
shareholder-employees and decides the amounts are too high or too low. If
auditors determine your salary is unreasonable, you company could be hit
with back taxes and penalties. Here are two cases of taxpayers who
contested IRS salary determinations in court, along with some ways to
justify a reasonable salary.]]></description>
			<pubDate>Tue, 08 Sep 2009 12:00:15 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Be Aware of the New Tax Laws for 2009]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1542</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1542</link>
			<description><![CDATA[Each year, the IRS releases changes in the US Federal income tax laws. Much hasn't changed for the past years but the recession during the last quarter of 2008 has been a great deal of influence to the new changes in tax laws. Tough economic conditions such as a recession mean that the taxpayer should pay special attention to those changes because this change may greatly affect your finances. Now let's take a look at those new tax laws for 2009...]]></description>
			<pubDate>Tue, 08 Sep 2009 11:59:37 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Top 7 Small Business Tax Mistakes]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1615</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1615</link>
			<description><![CDATA[Making a mistake on a business tax return can result in thousands of dollars in unnecessary fees and penalties. However, by following a few simple instructions you can easily avoid the most common business tax mistakes.]]></description>
			<pubDate>Thu, 27 Aug 2009 07:14:27 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Applications Open for Tribal Economic Development Bonds]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1599</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1599</link>
			<description><![CDATA[On June 23, 2009, the Internal Revenue Service released Notice 2009-51 to solicit applications for allocations
of the $2 billion national bond volume limitation for issuance of Tribal
Economic Development Bonds (TEDBs) pursuant to the newly created Section
7871(f) of the Internal Revenue Code of 1986, as amended. TEDBs create new
economic development opportunities for tribes by expanding the types of
projects they can finance with tax-exempt bonds. ]]></description>
			<pubDate>Thu, 20 Aug 2009 08:14:26 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[IRS Rules that Developer Can Deduct Payments in Lieu of Taxes (PILOTs)]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1598</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1598</link>
			<description><![CDATA[Local governments frequently encourage economic development by acquiring
property with public bonds, then leasing the property to real estate
developers. Because the local government owns the property, it is exempt
from real property taxes. The local government can preserve its tax base
by requiring the real estate developer to make payments in lieu of taxes,
called PILOTs, to the local government. What has not been clear is whether
the federal income tax deduction for real property taxes applies to PILOTs.
]]></description>
			<pubDate>Thu, 20 Aug 2009 08:14:20 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Taxes and Gambling]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1601</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1601</link>
			<description><![CDATA[Imagine you just struck it rich at the casino... now you have all of this "easy" money that you can waste on anything. Just remember that the IRS is not going to let you get away without paying taxes on those funds. So before you head to the casino, or sign up for a poker tournament, take a minute to reflect on the tax implications of gambling and the proper way to report the income to the IRS.]]></description>
			<pubDate>Mon, 17 Aug 2009 12:44:43 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[IRS Completes Process of Declaring Selected Pre-2007 § 403(b) Guidance Obsolete]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1597</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1597</link>
			<description><![CDATA[In Revenue Ruling 2009-18, to be published in the July 6,
2009, Internal Revenue Bulletin, the Internal Revenue Service (IRS)
completed the process of declaring obsolete certain guidance under &sect;
403(b) issued prior to the 2007 promulgation of new regulations under that
provision. The preamble to the 2007 regulations listed various guidance
documents, issued since the prior &sect; 403(b) regulations were
promulgated in 1964, that the IRS proposed either (i) to declare obsolete
in light of intervening statutory changes or (ii) to preserve following
the 2007 regulations. Having received no comments on the proposal, the IRS
acted in Rev. Rul. 2009-18 on the basis proposed.]]></description>
			<pubDate>Mon, 17 Aug 2009 12:42:40 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Prioritze Fraud Dectection and Prevention]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1596</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1596</link>
			<description><![CDATA[Hardly a day goes by without dire recession news hitting the airwaves.
Consumer confidence is down and unemployment is up. Homes and retirement
plans are generally worth less than they were a couple years
ago.&quot;Intense financial pressure during the economic crisis has
led to an increase of fraud,&quot; according to a survey done earlier this
year by the Association of Certified Fraud Examiners. Survey respondents
expect fraud to continue to rise in coming months - especially cases of
employee embezzlement.]]></description>
			<pubDate>Mon, 17 Aug 2009 12:42:32 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Understanding the Amazon Tax]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1581</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1581</link>
			<description><![CDATA[States across the US are dealing with budget shortfalls and a popular new law that seems to be spreading is what the&nbsp;New York Post has called the "Amazon Tax". To help understand the concept, let's start with Max who lives in California and wants to buy a new flat screen television. Max goes down to Walmart, finds the perfect TV and pulls out his credit card. Included in the purchase prices of Max's new TV is sales tax which Walmart collects and sends on to the state of California. In fact in 2008 just over 26% of California's total state revenue came from sales tax. Suppose Max thinks better about the purchase and instead goes back home to search for televisions online. Max in fact finds the exact same TV online at Bob's television and pet emporium in El Paso Texas. Since Bob is in Texas and Max is in California, Bob does not charge Max sales tax, because Texas, like every other state, does not require companies to collect sales tax on items that are sold outside of the state.]]></description>
			<pubDate>Mon, 10 Aug 2009 11:12:41 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Proration of Expenses in an Offer in Compromise]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1577</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1577</link>
			<description><![CDATA[Before the Internal Revenue Service (IRS) accepts a taxpayer's Offer in Compromise, or places his balances in Currently Not Collectible status, or agrees to an Installment Agreement, they will first request a Collection Information Statement (CIS). The CIS is the taxpayer's financial information statement attesting to his income, expenses, and assets.]]></description>
			<pubDate>Thu, 06 Aug 2009 09:56:51 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[How Offshore Tax Evasion Affects All American Taxpayers]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1562</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1562</link>
			<description><![CDATA[There has been a lot of talk about offshore tax evasion in the news lately. Especially in regards to UBS and new offshore tax evasion enforcement efforts between the U.S. and Switzerland. Unfortunately, many taxpayers do not pay much attention to these issues, as they do not think that offshore tax issues have anything to do with them personally.]]></description>
			<pubDate>Wed, 29 Jul 2009 11:46:58 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Top Five Tips on Setting Up an LLC]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1551</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1551</link>
			<description><![CDATA[An LLC, or Limited Liability Company, is emerging as an alternative way of doing things for people who want to set up in business and avoid some of the legal and fiscal hassles inherent in the other ways of doing it. It has become more popular in recent years due to the protection is gives to partners in the business and to the business itself. If this is something that interests you, then it is worth reading the following tips on successfully and effectively using the terms of an LLC to get your own business off the ground.]]></description>
			<pubDate>Fri, 24 Jul 2009 08:45:36 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Foreign Account Disclosure]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1539</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1539</link>
			<description><![CDATA[Recent informal guidance from the IRS suggests that certain venture capital
and private equity funds&mdash;and certain fund LPs and GPs&mdash;may be
required to file Treasury Department Form TD F 90-22.1 (Report of Foreign
Bank and Financial Accounts) with respect to their ownership interests in
such funds. Affected funds may wish to notify their U.S. LPs about this
potential filing obligation (although funds are not legally obligated to
notify LPs). The filing deadline for the 2008 calendar year is June 30,
2009.]]></description>
			<pubDate>Thu, 16 Jul 2009 11:20:08 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Challenging Times: Rethinking and Reshaping Estate Plans in New Tax and Economic Environments]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1540</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1540</link>
			<description><![CDATA[Recent changes to the estate, gift and generation-skipping transfer (GST)
tax systems, along with historically low interest rates and depressed
asset values, may have a significant impact on carefully crafted estate
plans. However, these challenging economic times may provide unprecedented
planning opportunities. Now is the time for individuals to review their
current estate plans and contemplated transactions to ensure that their
goals and needs are achieved.]]></description>
			<pubDate>Thu, 16 Jul 2009 11:20:05 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Real estate lawyers stay busy in uncertain economy]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1523</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1523</link>
			<description><![CDATA[In today's economy, with financial meltdown news dominating the headlines, one may wonder: Is there any money available to complete a deal? Of course there is.&nbsp; After all, institutions that are in the business of providing loans still needed to move money.&nbsp; That's their business. There's not a hotter real estate issue today than the funding and collateralization of loans.&nbsp; Before we analyze from a legal perspective, we need to talk briefly about the business environment.&nbsp; After all, law is driven by business.&nbsp; Business doesn't drive law.]]></description>
			<pubDate>Wed, 15 Jul 2009 09:38:51 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[IRS Audit - Don't Panic]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1498</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1498</link>
			<description><![CDATA[IRS audit. Are there two words in the English language that can instill
fear such as those? If the idea of an audit doesn't scare you there is
something wrong with you. The phrase literally conjures up thoughts of
going broke and years in prison. We have been conditioned to think that
the IRS audit is the end of the world. In reality, you chances of being
audited by the IRS are pretty slim. The statistics state that 80% of all
tax payers will be audited so even though it is unlikely it will be you,
understanding audits is important.]]></description>
			<pubDate>Wed, 01 Jul 2009 16:53:57 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Like Kind Exchanges Involving Vacation Homes - Updated]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1502</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1502</link>
			<description><![CDATA[In February, 2008, the Internal Revenue Service issued Rev. Proc. 2008-16,
2008 IRB 547, which provides a safe harbor that, when satisfied, assures a
party to an exchange that the requirement in Section 1031(a)(1) that the an
exchange property be held for productive use in a trade or business or for
investment has been satisfied.]]></description>
			<pubDate>Wed, 01 Jul 2009 16:53:55 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Waiting For a Tax Garnishment - Ouch That Hurts!]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1480</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1480</link>
			<description><![CDATA[One of the worst things that can happen if you are a tax debtor is an IRS garnishment or tax levy. Tax debtors can go for years before IRS collection activities finally catch up to them. It seems the sluggish bureaucracy lulls one into a false sense of security. While the delay from tax due to tax levy may be sluggish, the action of a tax garnishment is not. In fact, it may be the harshest financial event you ever experience and should be avoided if at all possible.]]></description>
			<pubDate>Tue, 30 Jun 2009 08:30:50 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Top 7 FAQs About IRS Tax Liens]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1479</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1479</link>
			<description><![CDATA[Finding a notice of an IRS tax lien in the mail can be a scary and intimidating thing. However, there are several steps you can take to overcome the situation and prevent the IRS from taking any further action against your property. Unfortunately though, many taxpayers do not even understand exactly what a tax lien is, let alone how to deal with it.]]></description>
			<pubDate>Tue, 30 Jun 2009 08:29:39 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[What's the Difference Between a Tax Lien and Levy?]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1478</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1478</link>
			<description><![CDATA[The tax world is full of jargon and enough acronyms to make your eyes cross. Its no wonder so many people are confused about the difference between a tax lien and a levy. The term "levy" is used to describe a number of collection methods the IRS employs. Levies actually redirect funds to the IRS as a repayment of a debt. Following are a few different types of levies: Wage garnishments actually fall under the levy heading. Wage garnishments redirect a portion of your income directly to the IRS. A garnishment continues until either the debt is repaid, expires, or you successfully negotiate a release. Wages can be a paycheck from your employer, federal payments like Social Security, or if you are an independent contractor, accounts receivable.]]></description>
			<pubDate>Tue, 30 Jun 2009 08:29:05 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Does a Tax Extension Increase Your Chances of an Audit? ]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1477</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1477</link>
			<description><![CDATA[When someone says the words "tax extension" to you, do you automatically think "audit?" Maybe it's time to think again. No one outside the IRS knows for sure how the audit system really works (our money is on trained hamsters), but many CPAs believe that tax extensions actually decrease your chances of getting an audit. Why, you ask? Many believe IRS officers have an audit quota, and they start on it around tax time. Many accountants hypothesize that the quotas get filled well before the tax extension deadline of October 15 (September 15 for business taxes), and IRS agents have less incentive to put returns in the audit pile.]]></description>
			<pubDate>Tue, 30 Jun 2009 08:06:52 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[M&A deal structures and the value of NOLs]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1465</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1465</link>
			<description><![CDATA[Interesting focus lately on a couple of areas that relate to M&amp;A in this environment; companies are getting more creative about deals and thereby run the risk of triggering tax issues that weren't as prevalent in the bull market days. We wrote about this last week in TheDeal.com, and it seems to be top of mind in other areas as well.]]></description>
			<pubDate>Wed, 17 Jun 2009 12:31:29 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[The Largest Tax Protests in American History]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1460</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1460</link>
			<description><![CDATA[There have been many instances throughout United States history where citizens and taxpayers have stood up to revolt against taxes they felt were being unfairly imposed. Recently, we saw the libertarian and conservative inspired "Tea Party" rallies on tax day, but this was neither the first nor the last time we will hear about tax protests. As long as governments are levying taxes, there are always going to be people who do not want to pay them.]]></description>
			<pubDate>Tue, 16 Jun 2009 08:33:41 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Making Money Off Government Tax Liens]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1459</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1459</link>
			<description><![CDATA[There isn't anybody with a mind functioning properly that doesn't like the sound of the word "taxes". Hearing somebody mention it only stirs up negative and sometimes blasphemous conversations, knowing that the government takes a part of every single income that flows into our pockets. In some areas, income taxes are so high that it almost feels like the government acts like a tyrant, pillaging us citizens. But there are some that actually love taxes, why? Because these individuals have found the brighter side to taxes, and use the problem in such a way, that it benefits them by making money.]]></description>
			<pubDate>Tue, 16 Jun 2009 08:32:33 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[IRS Back Tax Prevention Tips for Senior Citizens]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1453</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1453</link>
			<description><![CDATA[The country's poor economy is making life hard for people of all ages, but for some senior citizens living in this country it may feel like things have gotten especially difficult. Many are finding themselves behind on their taxes, leading to penalties and unnecessarily high tax debts. Once these liabilities begin to accumulate, it can lead to bank levies, and endless calls to the IRS, making life especially difficult.]]></description>
			<pubDate>Fri, 12 Jun 2009 09:50:55 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Progressive Taxation: Why The System Went Wrong]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1452</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1452</link>
			<description><![CDATA[The basic concept of charging taxes on an individual's source of income is for the purpose of funding the government's projects and other related improvements. You've probably heard that taxes can come in different forms, unless you haven't reached the age of paying taxes, or you're really that ignorant. One variation of "the government's share of your income" is known as progressive taxation. Hopefully you've heard of this and know how it works, coz if not, I'll be forced to give you a boring yet simple explanation. But since it's impossible for me to get any feedback from the readers, I'll have to explain it anyway, so here goes: progressive taxation basically works by charging a larger percentage of the incomes belonging to the larger income bracket.]]></description>
			<pubDate>Fri, 12 Jun 2009 09:31:11 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Use Independent Contractor or Employee?]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1451</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1451</link>
			<description><![CDATA[If I had to identify the single most important decision a business must make regarding how an individual is to be paid for the services he or she provides it would be classification of the individual as an employee or as an independent contractor. Improperly classifying employees as independent contractors can create serious long-term liabilities for a business. If an individual that the business treated as an independent contractor is later determined to have been an employee by the IRS or the state of Florida, the employer can be held responsible for the payroll taxes that should have been withheld from the individual along with the employer taxes that would have been due, and the penalties for failure to pay these taxes.]]></description>
			<pubDate>Fri, 12 Jun 2009 08:32:50 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[The Differences Between Partnerships and Limited Liability Companies (LLC)]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1435</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1435</link>
			<description><![CDATA[To assist with the creation of a business, some entrepreneurs might choose to create a partnership or a limited liability company rather than a corporation. The partnership can also be referred to as a firm, and implies as association of several individuals (more than one) who are working mutually in a business or as part of a professional practice. Because corporations are known to have complex and intricate rules about how they are organised, a partnership as well as a limited liability company can provide flexible divisions of management authority, as well as profit sharing and ownership rights between the registered owners.]]></description>
			<pubDate>Tue, 26 May 2009 09:40:51 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[IRA on Death, IRD, Taxes and Stretch IRA]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1416</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1416</link>
			<description><![CDATA[Roth IRA is a non-traditional form of Individual Retirement Account created in 1998 (Public Law 105-34) sponsored by US Senator William Roth of Delaware. The main advantage of a Roth IRA is its tax structure:1) Contributions are not tax-deductible.2) Withdrawals are tax-free.3) Transactions within the Roth IRA (interest, dividends, capital gains) are not-taxable.]]></description>
			<pubDate>Fri, 15 May 2009 09:58:53 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Roth IRA Retirement Planning for the Wealthy & Rich]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1415</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1415</link>
			<description><![CDATA[Ever wonder if there is a Roth IRA retirement plan for the wealthy &amp; rich? What is the most important fact that you need to know about a Roth IRA if you are making an Adjusted Gross Income (AGI) of over $101,000 a year (if single or $169,000/year filing jointly)? You do not even qualify for a Roth IRA! "Why is that?" you say. Well, the answer to that is debatable. My take is that the government has created a truly powerful wealth creation tool in the Roth IRA, but don't really want to share it with the well-to-do. They figure, if you make under $100,000 per year there is a good chance you will be a burden, financial drain, on the government in your twilight years. So to help avoid this future financial burden they allow for a small amount of your wages (Roth IRA contribution limits are $5,000 per year or 6,000 if you are over 50) to be invested tax deferred and income tax free.]]></description>
			<pubDate>Fri, 15 May 2009 09:56:26 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Tax Tips for Senior Citizens]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1414</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1414</link>
			<description><![CDATA[In today's economy, people of all ages and walks of life are experiencing new unforeseen struggles, and retired Americans are no exception. Luckily, there are several things a retiree can do to lower their tax liability and save a little bit of cash. Increased standard deduction If you are over the age of 65, or have gone blind before the end of the year, then you are entitled to a higher standard deduction. But remember, if you take the standard deduction you will not be able to itemize your return.]]></description>
			<pubDate>Fri, 15 May 2009 09:54:53 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[8 Athletes that had Problems with IRS Tax Debts]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1413</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1413</link>
			<description><![CDATA[Politicians are not the only ones with tax problems - dozens of athletes and celebrities often feel they are above the law, and do not pay proper taxes on their fortunes. In honor of angry, taxpaying sports fans everywhere, please enjoy the following list of 8 professional athletes that had IRS tax problems.]]></description>
			<pubDate>Fri, 15 May 2009 09:53:45 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[REITs Are Not Takeover Proof - The Public Storage/Shurgard Case Study]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=337</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=337</link>
			<description><![CDATA[REITs are not takeover proof, myth and legend notwithstanding. The closing of Public Storage&rsquo;s successful takeover of Shurgard makes the case more eloquently - and decisively - and should finally put to rest any&nbsp; lingering misconceptions about whether it is possible to acquire a REIT on an unsolicited basis. A popular misconception is that REITs are by their nature &ldquo;takeover proof.&rdquo; This is simply not the case. Although REITs have a number of defenses at their disposal, as we have long pointed out there is nothing inherent in the REIT structure that makes REITs any less vulnerable to unsolicited offers than other public companies. As with publicly traded corporations generally, REITs and their boards of directors must be well-briefed on the M&amp;A market, plan carefully for the possibility of an unsolicited takeover approach, and be prepared to respond with flexibility, realism and creativity to the unexpected.]]></description>
			<pubDate>Wed, 06 May 2009 12:25:17 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Is It Still Worth Making A Will During A Recession]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1387</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1387</link>
			<description><![CDATA[In these days of credit crunch, everyone is having to bite the bullet. We're careful how we spend our money, we are shopping around for everything from groceries to electronic products to get a bargain. Car sales haves slumped due to a lack of spending and don't even think about a holiday! So, we are all feeling the pinch. Many people are just hoping they can hang on to their jobs and homes while we ride out the latest economic storm. It may seem a strange thing to think about during such times but we should all consider our wills and whether or not they are up to date or, indeed, if we have even made one.]]></description>
			<pubDate>Wed, 29 Apr 2009 10:19:18 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[4 Steps to Driving Value through Documentation  "One-Catch", One-Pass", One-Touch"]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1378</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1378</link>
			<description><![CDATA[ According to the Securities and Exchange Commission (SEC) Chief Accountant, 99% of deficiencies related to Internal Controls over Financial Reporting are due to a lack of or inefficiencies within required documentation. Companies are required to establish and integrate their documentation and operational strategies and may comply with the letter of the law by "going through the motions".&nbsp;]]></description>
			<pubDate>Fri, 24 Apr 2009 11:54:43 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[On Guard! 5 Accounting Missteps to Watch For]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1379</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1379</link>
			<description><![CDATA[ Whether you call it creative accounting, accounting irregularities or accounting missteps, you need to be on guard!&nbsp; "On guard!" as in finding out about the things that you don't know.&nbsp; When all's said and done, it's those things that you don't know you need to know about which can harm your business.]]></description>
			<pubDate>Fri, 24 Apr 2009 11:54:41 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Economic Indicator: Look to the Length of the Lady's Skirt]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1380</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1380</link>
			<description><![CDATA[ Old adage:&nbsp; "A length of a lady's skirt rises during healthy economic times, and conversely lengthens during bad economic times."&nbsp;&nbsp; It makes for interesting fashion as well as for allowing for a diversity of economic strategies.&nbsp; There is hope and reassurance and confidence that for every fall there will be a corresponding a rise.&nbsp;]]></description>
			<pubDate>Fri, 24 Apr 2009 08:38:52 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[A Deeper Look at Tax Issues for Domestic Partners and Same Sex Couples   ]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1300</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1300</link>
			<description><![CDATA[As Benjamin Franklin famously said, "nothing in this  world is sure but death and taxes". Unfortunately, this is more than true for  domestic parents and same-sex couples all across the country. What many people  do not realize is that there are significant tax disadvantages for non-married  couples that nearly all gay couples face every year. Even though dozens of  states and over 50% of Fortune 500 companies offer domestic couple benefits, the  federal government does not offer any.]]></description>
			<pubDate>Mon, 30 Mar 2009 11:42:54 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[The IRS & Madoff Investors: "Theft Losses" Ponzi Schemes]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1299</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1299</link>
			<description><![CDATA[On 3/17/09, IRS Commissioner Doug Shulman told the  Senate Finance Committee: ". . . Thousands of Taxpayers have been victimized by  dozens of fraudulent investment schemes. These too-good-to-be-true investment  uses have often taken the form of so-called "Ponzi schemes" (i.e., the fraud  perpetrator promises investments returns, some or all of which are fictitious) .  . . The Madoff scandal has affected a very large and diverse pool of Investors,  some of whom are reported to have lost most of their life savings . . . To help  provide clarity and to assist Taxpayers the IRS is today issuing guidance  articulating the tax rules that apply and providing "safe harbor" procedures for  Taxpayers who sustained losses in certain investment arrangements discovered to  be criminally fraudulent."]]></description>
			<pubDate>Mon, 30 Mar 2009 11:40:30 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Inheritance Tax Planning]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1298</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1298</link>
			<description><![CDATA[Inheritance tax planning is very essential if you really  want that your estate goes in the hands of whom you want to. This demands a very  strong and calculated financial planning and if all ends meet in a proper way,  your family will be free from any further finance problems in future. Now, isn't  that what you want? Inheritance tax planning starts with formulating the will and put in the  accurate details regarding how your estate would be shared post you and making  sure this way that your desired calculations are put in to practise. However, if  you fail to do this, than your property might just go according to the law in  the hands of someone whom you do not wish to share your property with at all.]]></description>
			<pubDate>Mon, 30 Mar 2009 11:34:53 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Popular IRS Credits and Deductions you Might be Missing]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1278</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1278</link>
			<description><![CDATA[When it comes time to prepare your tax returns, there are so many credits and deductions to consider that it can be easy to forget a few. To quickly solve this problem, you could hire a tax professional, but even so, it is always a good idea to know exactly what you qualify for.]]></description>
			<pubDate>Wed, 11 Mar 2009 11:00:34 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[The 5 Most Overlooked Tax Deductions]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1277</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1277</link>
			<description><![CDATA[In order to minimize your tax bill and maximize your tax refund, you need to make sure to take advantage of every deduction and credit you're entitled to. To make this a little easier for you, we've highlighted 5 deductions that most taxpayers are entitled to take, but often overlook when filing their tax returns.]]></description>
			<pubDate>Wed, 11 Mar 2009 10:58:19 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Simple Simon Says: Form an LLC]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1271</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1271</link>
			<description><![CDATA[For the sole proprietor who wants to work at what she enjoys and keep things simple, setting up an LLC is the way to go. The only thing simpler is to remain a sole-proprietorship. But doing so offers no protection for your personal assets. Operating as an LLC offers protection and simplicity.]]></description>
			<pubDate>Mon, 09 Mar 2009 16:14:16 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Avoiding The Death Tax]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1270</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1270</link>
			<description><![CDATA[We all have heard that there are two things certain in life: death and taxes. In fact, even death is taxed so the government has a built in redundancy. I am about to suggest a way to help you avoid the associated probate and income tax at the time of your death. This method does not apply to everyone so please consult with your tax advisor/attorney/CPA BEFORE you jump into this IRS approved method. I say it doesn't apply to everyone because the very rich and the very poor will probably use a tax structured device for their personal estate. Middle class America should seriously consider this device.]]></description>
			<pubDate>Mon, 09 Mar 2009 16:12:31 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[IRS Audit - Don't Panic]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1269</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1269</link>
			<description><![CDATA[IRS audit. Are there two words in the English language that can instill fear such as those? If the idea of an audit doesn't scare you there is something wrong with you. The phrase literally conjures up thoughts of going broke and years in prison. We have been conditioned to think that the IRS audit is the end of the world. In reality, you chances of being audited by the IRS are pretty slim. The statistics state that 80% of all tax payers will be audited so even though it is unlikely it will be you, understanding audits is important.]]></description>
			<pubDate>Mon, 09 Mar 2009 16:08:34 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[401(K) Rollover: To Which Form of IRA?]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1267</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1267</link>
			<description><![CDATA[Although 401(K) plans are a great idea for the average lay-worker, but they still have their downsides. If a person has a choice in planning for their retirement future, then why not take a much better approach. Another alternative is to have a self-directed 401(K) plan. With this choice investment options are more diversified than with the regular 401(K) plan but they still have their downsides. Some employer plans may impose limits as to how much of the account can go into the self-directed portion.]]></description>
			<pubDate>Fri, 06 Mar 2009 15:09:56 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Most Common Tax Deductions and Credits for Homeowners]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1258</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1258</link>
			<description><![CDATA[From an outsider's perspective, owning a home may look like it comes with all kinds of expenses. But when you look at all the tax incentives homeownership has to offer, you may see things differently. Local taxes every homeowner pays an annual real estate tax on his or her home based on its value. However, what every homeowner does not know is that this tax is fully deductible. The federal government allows you to deduct the amount you spent on local taxes--this includes local property taxes.]]></description>
			<pubDate>Wed, 04 Mar 2009 11:15:54 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[5 IRS Red Flags That Could Get You Audited]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1257</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1257</link>
			<description><![CDATA[In these times of a struggling economy, massive Government spending, and a skyrocketing national deficit, you can be sure that the IRS will work hard to collect every penny they're owed. The IRS estimates that the gap between what is owed by taxpayers, and what the IRS collects each year, is in the neighborhood of $400 billion. This could lead to higher scrutiny of individual tax returns, and an increasing number of IRS audits.]]></description>
			<pubDate>Wed, 04 Mar 2009 11:14:04 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Owe Back Taxes? How to Start the Restitution Process]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1252</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1252</link>
			<description><![CDATA[So, you owe back taxes and are seriously stressed about what to do about it. Don't worry it's really not as bad as it seems. Sure, it's scary and the IRS is no one to tangle with, but it's not all gloom and doom. Millions of people owe back taxes and are in exactly the same situation you are. Luckily, there is tax help available and you won't have to go financially destitute to take advantage of it. The thing to remember is you should start the restitution process as soon as possible. By initiating the process you will save yourself a lot of money and a lot of grief.]]></description>
			<pubDate>Fri, 27 Feb 2009 12:04:22 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Important Things to Know about IRS Appeals]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1251</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1251</link>
			<description><![CDATA[The IRS provides appeal procedures for a variety of situations. The focus of this article is IRS appeals as they relate to collection procedures and the resolution of an IRS tax debt. An appeal is simply the reconsideration of a lower authority's decision by a higher authority.]]></description>
			<pubDate>Fri, 27 Feb 2009 12:02:37 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[High Risk Tax Audit Targets]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1250</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1250</link>
			<description><![CDATA[IRS tax audits may be random or may be triggered by the information you declare on your tax returns. Your chances of being audited depend on: (1) What type of income you report. (2) The amount of income your report. (3) The type of business you're in. (4) The tax deductions you report. (5) Your past history with the IRS.]]></description>
			<pubDate>Fri, 27 Feb 2009 12:00:22 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[New Tax Laws for 2009]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1236</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1236</link>
			<description><![CDATA[Even though they are being levied by all forms of government since many centuries, taxes have hardly been popular. The very idea of taking a portion of something you legitimately earn or own may make you rebellious. However, all of us know that we have to pay taxes in order to have the infrastructures built, which are so necessary for our livelihood. Also, governments need money for a lot of other investments into areas such as scientific researches, defense, old age pension and care for the poor and disabled.]]></description>
			<pubDate>Fri, 20 Feb 2009 15:47:25 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Impairment of Assets - GAAP v. IFRS]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1235</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1235</link>
			<description><![CDATA[One cannot open a newspaper or watch the evening news without hearing about "globalization of the world's economies". Simply stated, it is the process by which local or regional economic customs and traditions become one and meld into a single functioning society. It comes as no surprise to those who follow worldwide accounting standards that US Generally Accepted Accounting Principles (GAAP) as promulgated by the Financial Accounting Standards Board (FASB) and the International Financial Reporting Standards (IFRS) as promulgated by the International Accounting Standards Board (IASB) are beginning the process of melding into a single functioning set of accounting rules. Although the convergence of these rules is not expect to take place until 2011 (at the earliest) awareness of the differences is important for accounting professionals.]]></description>
			<pubDate>Fri, 20 Feb 2009 15:45:50 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Tax Planning Techniques]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1229</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1229</link>
			<description><![CDATA[Many more of you find yourselves in this predicament. What can you do? Who can you call? Well, those dashingly handsome financial super heroes are here to serve. If you are using un-reimbursed employee business expenses on your itemized deduction schedule, get reimbursed. These expenses will cause the alternative minimum tax (amt) to rear its evil head.]]></description>
			<pubDate>Tue, 17 Feb 2009 10:20:27 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Stimulus Tax Bill Advances in House and Senate]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1227</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1227</link>
			<description><![CDATA[The House has voted 244 to 188 to approve a stimulus bill (H.R. 1) with a
$275 billion tax package, and the Senate Finance Committee has passed its
own slightly larger tax title that will soon move to the Senate
floor.&nbsp; The House did not modify the tax title passed by the House
Ways and Means Committee before its vote. Senate tax writers, however,
made several changes to their original tax package during markup,
including the addition of alternative minimum tax relief for 2009.]]></description>
			<pubDate>Tue, 17 Feb 2009 10:17:12 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Market Volatility and Your 401(k)]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1226</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1226</link>
			<description><![CDATA[It is easy to get caught up in all of the headlines lately regarding the
economy and the stock market. But it is important to remember that during
market volatility, you may need to remain steadfast in your investment
strategy. Don't make 401(k) decisions based on short-term trends or
emotions. Don't abandon your investment strategy. If you try to play
catch-up later, it can result in even greater risk. The best approach is
to maintain a long-term disciplined investment approach. Here are some
principles to investing in your 401(k) in a volatile market.]]></description>
			<pubDate>Tue, 17 Feb 2009 10:17:09 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Having Trouble Staying Current  With Payroll Taxes?]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1225</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1225</link>
			<description><![CDATA[Do you process your own payroll? If so, do you ever find it challenging to
stay current on the filing and payment of your payroll taxes? If so, you
are not alone. The Government Accountability Office recently estimated
that 1.6 million businesses are behind on paying their payroll taxes. It
estimates that, collectively, these businesses owe approximately $58
billion in payroll taxes.]]></description>
			<pubDate>Tue, 17 Feb 2009 10:17:06 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[ Protecting Madoff Investors]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1228</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1228</link>
			<description><![CDATA[It is bad enough that most of the people who invested with Madoff will lose
a significant amount of their wealth. It is also possible, in fact, likely,
that many of the investors who received distributions from Madoff or pulled
their money out in time may have to return the money.&nbsp; When the
inevitable bankruptcy engulfs Bernard L. Madoff Investment Securities, the
bankruptcy trustee will have the ability to require a return of previously
paid distributions to share them with other victims of the Ponzi
scheme.]]></description>
			<pubDate>Tue, 17 Feb 2009 10:17:02 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Aligning Stock Option Valuation With The Market]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1221</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1221</link>
			<description><![CDATA[As we continue to adapt to the downturn, there are a number of factors around the valuation of companies that are coming into play and, in the end, motivating leaders to re-value options.&nbsp; We're seeing this trend develop in real time, and it prompted us to put pen to paper for our most recent Perspectives article, "Giving Stock Options A Second Look: The benefits of new grants at low values."]]></description>
			<pubDate>Wed, 11 Feb 2009 12:46:29 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[9 Tax Tips for Navigating the Credit Crunch and Slow Economy]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1181</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1181</link>
			<description><![CDATA[The down economy and credit crunch will force many businesses to look
for stategies that reduce expenses and raise cash.&nbsp;Managing your tax
burden is one area where appropriate planning and action can put
much-needed cash back in your pocket.&nbsp;Your best approach depends on
your industry and the structure of your business.&nbsp;The following tax
tips are intended to be general observations and to highlight ideas that
may be helpful.&nbsp;Facts and circumstances vary, so check with Grant
Thornton for help in determining how these planning opportunities may
apply in your situation.]]></description>
			<pubDate>Mon, 19 Jan 2009 15:17:51 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[FASB Updates Key Accounting Standard]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1179</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1179</link>
			<description><![CDATA[Revisions to a key U.S. accounting standard governing business combinations
have great potential to affect deal making, deal flow and overall strategy
in 2009. In an effort to improve financial reporting and harmonize U.S.
and international accounting standards, the Financial Accounting Standards
Board recently updated Statement of Financial Accounting Standards No. 141
to emphasize fair value accounting. This is the first significant product
of converging FASB and International Accounting Standards Board agendas
for the benefit of global business.]]></description>
			<pubDate>Mon, 19 Jan 2009 15:17:42 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[The Upside of Charitable Giving in a Downturned Economy]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1177</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1177</link>
			<description><![CDATA[Defying gravity, some charitable giving plans can levitate or even sky
rocket in a low interest rate environment or sluggish economy. With a
little creativity, donors can achieve their philanthropic, economic and
tax goals, even in times of economic uncertainty. Among the star
performers are Charitable Gift Annuities, Charitable Remainder Trusts,
Personal Residence Remainder Gifts, Charitable Lead Trusts and IRA
Charitable Rollovers.]]></description>
			<pubDate>Mon, 19 Jan 2009 15:17:39 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Problems with Unpaid Owner Debt in Pass Through Entities]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1180</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1180</link>
			<description><![CDATA[Owners of pass through entities should be careful about the use of
shareholder debt to capitalize a business because the failure of the
company to repay or service the indebtedness can cause problems for both
the owners and the company. If the company is a pass through entity, one
of these problems is cancellation of indebtedness income attributed to the
company if the debt is forgiven or the company is dissolved without
repaying the debt in accordance with section 61(a)(12) of the Internal
Revenue Code of 1986 as amended. Section 108(a) of the code provides an
exemption from recognition of C.O.D. income to bankrupt debtors and to
insolvent debtors to the extent of their insolvency; however, as described
below, it does not provide complete protection, and there is a price to be
paid for the protection that is provided.]]></description>
			<pubDate>Mon, 19 Jan 2009 15:17:29 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Surviving the Perfect Financial Storm]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1178</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1178</link>
			<description><![CDATA[The credit crunch has affected all retail industry and consumer
discretionary spending. Franchisors need to take bold steps to survive,
much less prosper, during this storm. Banks are reducing their
customers&rsquo; borrowing capacity because of the need for banks to have
sufficient capital to support the potential draws on their credit lines.
Here are some strategies that can make a difference for both franchisors
and franchisees.]]></description>
			<pubDate>Mon, 19 Jan 2009 15:17:16 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[A New Business Entity May Give Charitable Ventures Access to More Financing Opportunities]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1184</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1184</link>
			<description><![CDATA[In this time of financial crisis, charitable ventures may want to consider
utilizing a new business structure &mdash; a Low-Profit Limited Liability
Company&nbsp;to access additional financing opportunities. An L3C is a new
type of limited liability company that is a for-profit entity formed to
engage in socially beneficial activities.]]></description>
			<pubDate>Mon, 19 Jan 2009 15:17:08 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[SEC Revises the Cross-Border Tender and Exchange Offer Rules]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1183</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1183</link>
			<description><![CDATA[The Securities and Exchange Commission recently voted to amend its rules
that govern cross-border business combinations. In an effort to encourage
bidders to include U.S. stockholders in cross-border transactions, the
commission, in 1999, adopted exemptive rules in connection with tender
offers and registrations under the Securities Act of 1933, as amended, for
cross-border tender and exchange offers, business combinations and rights
offerings relating to the securities of foreign companies. The purpose of
the exemptions is to address conflicts between U.S. and foreign
regulation, thereby facilitating the inclusion of U.S. investors in
cross-border transactions.]]></description>
			<pubDate>Mon, 19 Jan 2009 15:16:54 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Barack Obama Won the Election: Tax Planning to Consider Now]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1182</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1182</link>
			<description><![CDATA[History was made in the 2008 presidential election. Congratulations to
President-elect Barack Obama on this momentous occasion, whose campaign
was focused upon the need for change. However, not to be lost among these
congratulatory remarks is the fact that the Obama administration will push
Congress during 2009 for changes in our federal tax system consistent with
his Comprehensive Tax Plan. Whether all or just parts of the plan are
enacted is too early to forecast. However, there certainly will be both
winners and losers from any combination of these changes.]]></description>
			<pubDate>Mon, 19 Jan 2009 15:16:51 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Market Volatility and Your 401k]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1164</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1164</link>
			<description><![CDATA[It is easy to get caught up in all of the headlines lately regarding the economy and the stock market. But it is important to remember that during market volatility you may need to remain steadfast in your investment strategy. Don't make 401k decisions based on short-term trends or emotions. Don't abandon your investment strategy. If you try to play catch-up later it can result in even greater risk. The best approach is to maintain a long-term disciplined investment approach. Here are some principles to investing in your 401k in a volatile market.]]></description>
			<pubDate>Fri, 16 Jan 2009 14:12:22 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[The Importance Of Estate Planning]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1163</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1163</link>
			<description><![CDATA[When it's time for you to say goodbye to your loved ones, and say hello to your maker in person, what's gonna happen to everything you've worked so hard to achieve? I'm not talking about the medals and other "feel-good" rewards you've earned, but the material commodities you have with real financial value. Another thing to take into consideration is what's going to happen to your family you will be leaving behind? There's no way you're going to take them with you, same goes for the all of your material goods. The best thing for you to do is to try estate planning, which basically makes sure that your entire estate is distributed amongst each member of the family.]]></description>
			<pubDate>Fri, 16 Jan 2009 14:10:50 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Considerations with IRS Back Taxes]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1162</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1162</link>
			<description><![CDATA[If you owe back taxes with the IRS it is very important to get them paid off. There are many ways you can pay IRS back taxes or you work with the IRS for a solution that works best for you. The IRS will get their money from you in one way or another. If you owe IRS back taxes you don't want the IRS coming to you to get them. The first thing you need to do is contact them regarding what you owe. Tell them what you are planning on doing and work with them entirely. You do have many options and the IRS will work with you if they know you are willing to pay what you owe. Owing back taxes to the IRS is not a good thing. If you do not remain in touch with the IRS and try to evade the taxes, eventually they will catch up to you. They have the power to seize assets in your name and any possessions in your home worth the amount of money you owe. The last thing you want to happen is for the IRS to arrive at your front doorstep and begin hauling your furniture and other belongings away.]]></description>
			<pubDate>Fri, 16 Jan 2009 12:33:30 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Unpaid Taxes. What Options Do You Have?]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1161</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1161</link>
			<description><![CDATA[Do you have a problem with unpaid taxes? Be assured that you are not alone. There are thousands upon thousands of individuals who owe the IRS taxes. This means you can be assured there are solutions. No matter why or how you got into the situation of owing the IRS, you should start to deal with them as soon as possible. Even if you haven't received any phone calls or notices from the IRS, taking the initiative will help your situation now and in the future. There are so many reasons not to deal with tax liabilities, money problems, fear of the unknown or just plain laziness. Everyone has been in any one of these situations and understands how it can affect your life. And, in these economic times it's tougher than ever to part with the money to pay unpaid taxes.]]></description>
			<pubDate>Fri, 16 Jan 2009 12:32:23 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Rev. Proc. Provides Temporary Guidance for REIT Distributions of Stock]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1153</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1153</link>
			<description><![CDATA[New guidance issued by the IRS (Rev. Proc. 2008-68) provides that a real
estate investment trust may in certain circumstances treat distributions
of its stock to its shareholders as a distribution pursuant to Section
301.]]></description>
			<pubDate>Mon, 12 Jan 2009 12:41:14 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Speed Up Payment on Receivables]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1154</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1154</link>
			<description><![CDATA[Receivables don't have much value if they aren't turned into cash.&nbsp;Your company really needs to keep tight control on its
invoices outstanding so you can get an accurate picture of the receivables
situation and take steps to improve the turnover of those accounts.]]></description>
			<pubDate>Mon, 12 Jan 2009 12:41:12 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Foreclosure Trends]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1151</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1151</link>
			<description><![CDATA[Many people are worried given the aftermaths that the economic crisis could produce. They have every reason to be worried about their jobs and also about the possibility to pay their mortgages. Specialists have started to analyze foreclosure trends on a monthly basis, making lists of top cities and states.]]></description>
			<pubDate>Wed, 07 Jan 2009 12:39:32 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Wall Street Crash Changes Companies]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1133</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1133</link>
			<description><![CDATA[We change, society changes, and business changes. From night to day and from spring to fall the world keeps changing around us. Those who fail to change soon have the please of seeing the back of the head of the new leader. After the recent sub prime mortgage crisis and volatile swings in global stock markets due to the defaulting investment firms the business environment has drastically changed. We don't know how the business environment will change or what the business world will be like but we do know that change management and risk analysis will become more important topics over the next five years.]]></description>
			<pubDate>Mon, 22 Dec 2008 15:02:48 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Living Trusts: A Valuable Estate Planning Device]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1118</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1118</link>
			<description><![CDATA[A revocable living trust is a legal instrument which holds title to the personal assets of a person or married couple, including bank accounts, real estate, LLC and stock interests, etc. Like a will, a living trust contains your instructions for the distribution of all your assets after you pass away. A primary distinction between a will and a trust is that a trust avoids probate, whereas a will does not. Probate of a will requires filing of a costly probate proceeding in the county where property is located, newspaper publication notices, letters to all heirs even if disinherited and statutory waiting periods under California law. Also, the records of the probate are public information.]]></description>
			<pubDate>Thu, 18 Dec 2008 11:58:56 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Do I need an Estate Plan?]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1116</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1116</link>
			<description><![CDATA[Generally a person's estate consists of all of the property that they own, including but not limited to vehicles, boats, stocks, and personal property. The idea of estate planning for many people is difficult to deal with, because it brings with it some very unpleasant thoughts. However, it is also a good way to ensure that your property is distributed in the manner consistent with your wishes and that the people you care about are provided for in the event of your death.]]></description>
			<pubDate>Thu, 18 Dec 2008 11:51:04 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Answering the "LLC vs S Corporation" Question]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1115</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1115</link>
			<description><![CDATA[Entrepreneurs and small business owners sometimes struggle with the "limited liability company versus an S corporation" question. But that's unfortunate. The question is (sometimes) very straight-forward to answer...The Answer is...]]></description>
			<pubDate>Thu, 18 Dec 2008 11:44:36 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Small Business Taxes -- How to Avoid the Dreaded Double Taxation of Business Profit]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1112</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1112</link>
			<description><![CDATA[The advantages are incorporating your small business are many. For starters, you'll be protecting yourself and your family from the possibility of a business ending lawsuit. Forming a corporation is Step One on the path known as "Asset Protection" -- you are moving from the world of unlimited liability to the world of limited liability. From a tax standpoint, there are both advantages and disadvantages to incorporating. Yes, forming a corporation can either reduce your taxes or increase your taxes, depending on what type of corporation you create. There are two main types of corporations: "C" Corporations and "S" Corporations -- and which type you choose can make all the difference in the world of taxes.]]></description>
			<pubDate>Thu, 18 Dec 2008 11:27:40 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[ICOFR - more than a Risk Approach]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1111</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1111</link>
			<description><![CDATA[Using a risk based approach to determine what and where to test internal controls may be standard practice and a requirement to demonstrate Internal Control over Financial Reporting (ICOFR); however don't be fooled, that's not all you need. &nbsp;ICOFR must be more than just testing that reviews have been completed and authorization has been given prior to the event taking place.&nbsp; By the way, what do YOU think review means?]]></description>
			<pubDate>Wed, 17 Dec 2008 15:25:18 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Policyguru to the Rescue - Small Changes Big Results]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1110</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1110</link>
			<description><![CDATA[Q:&nbsp; How does a policy differ from a procedure and why do I need both? Policy is defined as wisdom in the management of affairs. In accounting and finance terms, a policy establishes a standard or sets the direction and intent of the Company. Policy sets the tone from the top and is worded so that a consistent approach may be developed, monitored and maintained within each of the geographic or regional areas and still be valid. Generally based on external regulations, industry standards and cultural preferences a policy statement describes the 'concepts' and 'principles' which must be implemented throughout the company. Procedure refers to a specific way to implement the policy, it is the 'who, what, where, when, why, how-to' of the policy. It is often easier to define the procedure and let the policy statement fall out. To define the procedure, look for input, actions and activities to be performed and outputs. Procedures and processes are represented in a hierarchy and can have sub processes providing increasing levels of detail until desk instructions are produced.]]></description>
			<pubDate>Wed, 17 Dec 2008 15:22:47 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Variable annuities in retirement accounts]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1109</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1109</link>
			<description><![CDATA[There has been quite a bit of talk about how VAs aren't suitable for retirement accounts.&nbsp; Perhaps this will change your thinking...Our current and prospective clients and their other advisors have sometimes wondered why we recommend using variable annuities as an investment vehicle for portions of their qualified (retirement) assets.&nbsp; &nbsp;Many who read or listen to the popular financial media have been &ldquo;taught&rdquo; that it makes no sense to invest &ldquo;tax-deferred money into a tax-deferred vehicle.&rdquo; &nbsp;Some ask why we don&rsquo;t simply use the variable annuity structure with non-qualified (taxable) money to take advantage of the tax deferral. &nbsp;Others question the fees associated with variable annuities.Let&rsquo;s consider some of these issues.]]></description>
			<pubDate>Tue, 16 Dec 2008 16:10:11 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Can Modern Portfolio Theory Survive in the 21st Century?]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1106</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1106</link>
			<description><![CDATA[It appears to many that Modern Portfolio Theory, (MPT), may have met its match in today's market place. Two of the most basic underpinnings of MPT are diversification and asset allocation.&nbsp; Why then is it that so many experts - financial, academic and economic - have consistently made the case over the years for these two methods as the primary ways to be protected if (when) the markets drop?&nbsp; This, in spite of the dot.coms having gone upside down and other prior examples of the process having offered little protection to the investor.]]></description>
			<pubDate>Mon, 08 Dec 2008 16:04:55 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[8 Benefits of a Living Trust]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1105</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1105</link>
			<description><![CDATA[A Living Trust does not affect your ability to manage and control your own property and does NOT require management fees to be paid to anyone unless you wish to appoint an outside Manager. Living Trusts may not be for everyone, but for many, many people, a bit of extra planning now in setting up a living trust can save a lot of time, money and frustration for your loved ones in the future.]]></description>
			<pubDate>Wed, 03 Dec 2008 07:23:43 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Annuity Taxation]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1104</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1104</link>
			<description><![CDATA[Like any other investments, annuities too are taxable. The annuity taxation depends upon the type of funds employed in purchasing the annuity and whether it was purchased on a prescribed tax deferred basis. Given below are few different methods that are commonly employed in annuity taxation.]]></description>
			<pubDate>Tue, 02 Dec 2008 09:51:34 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[7 Ways President Elect Barack Obama Can Fix the Economy]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1102</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1102</link>
			<description><![CDATA[It is no secret that the American economy is under pressure, and politicians are scrambling to present every solution possible. Since there are long and short term goals involved, many people are concerned with what Barack Obama can do to fix the economy. To help Americans make their own educated decisions, please enjoy the following list of ways the next president can fix the economy.]]></description>
			<pubDate>Tue, 02 Dec 2008 09:25:45 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[IRS Proposes Regulations on Discharges of Partnership Debt]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1101</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1101</link>
			<description><![CDATA[On October 30, the IRS released proposed regulations implementing a 2004
statutory change to the federal income tax treatment of discharges of
partnership debt. Under the statutory provision, Internal Revenue Code
&sect; 108(e)(8), partnerships that issue equity interests to their
creditors in exchange for release of liabilities are deemed to satisfy the
discharged debt with an amount equal to the fair market value of the
interests issued. The remaining portion of the discharged debt is
recognized as ordinary income by the partnership and allocated among its
partners in accordance with the percentage interests that they held
immediately before the debt was discharged. The term fair market value is
undefined in the code and regulatory guidance on its determination would
be helpful to partnerships engaged in negotiating workout arrangements
with their creditors in the current financial crisis.]]></description>
			<pubDate>Tue, 02 Dec 2008 09:21:03 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[A Higher Standard: Complying With 'FIN 48']]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1100</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1100</link>
			<description><![CDATA[Since the implementation of FIN 48 &mdash; an accounting standard
dealing with uncertain tax positions &mdash; numerous questions and issues
have arisen. We'll answer some of them but first, here is a little
background information.]]></description>
			<pubDate>Tue, 02 Dec 2008 09:21:00 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Government To Make Billions From The Mortgage Crisis]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1092</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1092</link>
			<description><![CDATA[The mortgage crisis has had a negative impact on everyone, not just homeowners. Elected officials are working hard to pass legislation that is designed to prevent future banking debacles. Unfortunately, history has proven that when legislators over-regulate banks that it tightens the reins on lending. This is done by raising the bar on what it takes to qualify for a mortgage or installment loan. Predictably, it&rsquo;s the middle class that will feel the pinch more than anyone. Specifically, it&rsquo;s the middle-class, self employed small business owner that be injured the worst.]]></description>
			<pubDate>Tue, 25 Nov 2008 11:42:59 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[New Business Depreciation Rules of 2008]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1088</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1088</link>
			<description><![CDATA[As we come to the close of 2008, this economy has caused a volatile year for many. Many Americans have had to scramble to make a living and adjust to changing times. With higher gas prices and costs of living escalating to new levels, many businesses are on the brink of extinction. For the lucky few, that have had a profitable year, it is time to maximize the situation and plan to minimize the tax burden. The government has made some substantial changes in 2008 for investing in the U.S and we are going to look at the depreciation area for qualified acquisitions.]]></description>
			<pubDate>Mon, 24 Nov 2008 09:49:06 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[7 Things Small Business Owners Should Know About Payroll Tax Problems]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1086</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1086</link>
			<description><![CDATA[Past due payroll taxes can cause you to lose your business and in some cases, your freedom. The IRS is focusing increased tax compliance efforts on small businesses so it is important to know the common payroll tax audit triggers and learn how to avoid severe IRS penalties, huge tax debt and federal criminal investigation.]]></description>
			<pubDate>Fri, 21 Nov 2008 11:47:37 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Sarbanes-Oxley Act And Other Measures Against Accounting Scandals]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1083</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1083</link>
			<description><![CDATA[In the wake of the corporate scandals like those at Enron, Tyco International and WorldCom that ripped apart the financial interests of thousands of shareholders and retirement plan investors, lawmakers and professional bodies decided to tighten the grip on financial reporting norms. Sarbanes-Oxley Act is the response to the malicious accounting practices that had been going on before. It seeks to restore the public's confidence in the corporate governance ethics and financial reporting guidelines.]]></description>
			<pubDate>Tue, 18 Nov 2008 09:16:52 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Dissolving An LLC]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1078</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1078</link>
			<description><![CDATA[In these troubled economic times, I receive as many queries regarding dissolution of LLCs as initial organization. It comes as something of a shock to some business owners when presented with the steps necessary to legally dissolve their US based LLC. First, the basic steps to LLC dissolution: Member vote to dissolve, Adoption of plan of dissolution, Actual winding up of business, Obtaining a tax clearance letter from the state taxing authority and&nbsp;Filing certificate of dissolution with Secretary of State's office (for state where your LLC was organized).]]></description>
			<pubDate>Mon, 17 Nov 2008 10:35:35 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[The Simple Way of Communication: Wealth Creation Is In Your Words]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1077</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1077</link>
			<description><![CDATA[Last week, one of my clients called me "Focahontas", because our work together has provided him clarity and focus to his vision. However, what I find that I really do is provide simple ways for us to focus and operate in business (and life). Today's article is one of my simple way methods that you can use to leverage your time with more effective ways to communicate with your clients. How are YOU communicating effectively? Not just in your marketing, branding and documentation, but in all ways that you use your words and the energy behind your words.]]></description>
			<pubDate>Mon, 17 Nov 2008 10:20:57 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Dynamic Asset Allocation Strategy of Portfolio Management]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1076</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1076</link>
			<description><![CDATA[Different persons have different portfolio management needs, some want to maximize the return, some want to minimize risks with steady investment growth, some want constant earnings, and some others want to earn more spending least time. Dynamic asset allocation is one such portfolio management strategy which aims at maximizing the portfolio return by active management of portfolio components. Dynamic asset allocation is one of the most active portfolio management strategies which involve frequent/constant and quick adjustments of investments inline with the performance of investments over time and with the market trends. Because of this active management dynamic asset allocation is considered as a risky strategy and is not at all advocated for persons with less investment knowledge, low capital and who have not time to monitor their investments.]]></description>
			<pubDate>Mon, 17 Nov 2008 10:17:27 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Smart Business Tax Planning for an Obama Presidency]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1069</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1069</link>
			<description><![CDATA[Whether or not you agree with Barack Obama, if you're a successful business owner, you need to plan now to minimize the tax increases an Obama administration seems sure to implement. Why? A bit of upfront planning could easily save you tens of thousands a dollars a year--in some cases, for decades: Recognize Capital Gains Now, Delay Capital Losses Until Later, Extract Earnings and Profits Now, Reconsider the Roth Option...]]></description>
			<pubDate>Fri, 14 Nov 2008 10:42:06 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Why should small businesses go for Tax Return Outsourcing? ]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1068</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1068</link>
			<description><![CDATA[A tax is a compulsory payment to the government on income earned by Individuals/entity with out any "QUID-PRO-QUO". It is not a voluntary payment, but a compulsory contribution forced by government authority. In a modern day economy everything, starting from individual, businesses to big corporate need to pay their taxes. Paying taxes in time is something that every business has to do. The affair becomes complicated for businesses since, to arrive on the figures they need to keep a tab of their income and expenditures for the entire year. As such accounting and bookkeeping help, for proper record of financial transactions, reconciliations, financial statements preparation and then help from tax preparers who assist in the preparation of returns and confirm that the tax have been updated as required by various legislations have become quite important to the entire process.]]></description>
			<pubDate>Fri, 14 Nov 2008 10:39:43 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Tax Planning for Business Losses in 2008]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1067</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1067</link>
			<description><![CDATA[At we come to the conclusion of 2008, many businesses have lost money in this year. The economy for 2009 looks very volatile and some industries may start to recover in 2009, while others may take a little longer. One positive area to bring to the table is that the price of oil has decreased significantly and regular gas prices have come down to $2.00 or so per gallon depending upon your location. The question through this difficult year where losses have mounted up, why do you have to tax plan? If you were profitable in year 2006 and/or 2007 and paid business taxes in those years, you may be entitled due a tax refund in 2008 to recover part or all of these monies paid in previous years. This tax recovery is called a net operating loss carryback claim...This situation applies to proprietorships, corporations, limited liability corporations, and so forth.]]></description>
			<pubDate>Fri, 14 Nov 2008 10:38:17 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Building Wealth in a Sagging Economy]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1054</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1054</link>
			<description><![CDATA[By now we all know that our economy is in the dumper. We are facing an economic recession the likes of which have not been seen since the 1930's. The Washington politicians keep telling us that they are going to solve the problem, but the fact is, they cannot. Washington caused this problem and they are the last ones that can fix it. And throwing a trillion dollars of the American people's money at it will only serve to further enrich the people and institutions that are responsible for the whole mess. The reality of the situation is that the economy will get worse before it gets better. Leading financial industry authority Kip Herriage stated on October 24, 2008, ". . . the recession will reduce corporate earnings by as much as 30-50% over the next couple to three years. This is why I continue to believe that the Dow will drop to 6000 - 7000 before this is all over." These are dire predictions for everyone who works in corporate America.]]></description>
			<pubDate>Tue, 04 Nov 2008 14:24:06 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Make a Financial Plan With These 7 Steps]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1053</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1053</link>
			<description><![CDATA[You may have a good investment plan or estate plan or retirement plan but without coordination of these plans, you are most likely to lose out on making money. The reason why is that all of the 7 steps in a financial plan will get you the goals that you want, in the time that you want and with tax advantages and with a comfortable amount of risk. Most people target just the investment plan or retirement plan and lose focus of the big picture. Here are the 7 steps that you will need for success in creating financial independence...]]></description>
			<pubDate>Tue, 04 Nov 2008 14:23:23 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Save Money With Tax Planning in the Fourth Quarter ]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1052</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1052</link>
			<description><![CDATA[As we work through the fourth quarter of the calendar year, many people put thoughts of taxes on the back burner. After all, you really don't have any major tax filing deadlines coming up until returns are due the next year. Such an approach is easy to take, but it is a mistake. The fourth quarter is one of the most important tax planning periods of the year. This is the quarter when you do two critical things. First, you look back at the passing year and make any adjustments to your taxes that are needed to avoid a big tax liability at the end of the year. Second, you start forecasting and planning for the next year.]]></description>
			<pubDate>Tue, 04 Nov 2008 14:21:54 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Why Have You Lost So Much Money in the Stock Market?]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1051</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1051</link>
			<description><![CDATA[It's a fair question. Why have you lost money in 2008 in the stock market? I am now great stock market predictor but what I do know for a fact is the major trend on the stock market turned down in February 2008. And I have rules about what to do in such circumstances that will at the VERY LEAST STOP YOU LOSING MONEY! I do not care if you invest in Mutual Funds, 401k's, pensions, saving plans etc....the fact is they will all lose money in bear markets. UNLESS you set them up so they can go into cash or short stocks during bear markets. This is one of the biggest reasons I tell people to manage their own money. You are in control of it and YOU take complete responsibility for it. No-one cares more about your money than you.]]></description>
			<pubDate>Tue, 04 Nov 2008 14:20:15 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Tax Preparation: Employee or Contractor? ]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1038</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1038</link>
			<description><![CDATA[If you are engaged with a company you will either receive a W-2 form or a 1099 depending whether you are an employee of the company or a contractor. You should take notice of this because the tax you pay as an employee or as a contractor are different. If you are an employee, your employer pays a percentage of your tax. But as a contractor, you will have to foot the bill totally by yourself. Be aware that some business mis-classifies employees as contractors to escape the tax burden. This is crucial factor to take into account when making your tax preparations. The term ETC (Exclusivity, Tools and Control) can help you determine your status. Knowing the difference will enable you to contact your employer if you have been misclassified, to point out the problem. If you fail to get cooperation, contact the IRS to report the misclassification as they will be able to remedy the situation.]]></description>
			<pubDate>Thu, 30 Oct 2008 12:44:57 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Considering an IRA Rollover? Know What Your Options Are First ]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1027</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1027</link>
			<description><![CDATA[Have you been contributing to a 401(k) plan but are no longer working for the employer due to job change, downsizing or retirement? If so, you should strongly consider moving those assets to an IRA rollover account. Here are the options to be aware of so you can make a well-informed decision. The IRA rollover is an account designed to receive retirement assets rolled over from an ex-employer's retirement plan such as a 401(k). The IRA rollover allows funds to be transferred tax free and penalty free from other retirement plans and allows those assets to continue to grow tax deferred until retirement.]]></description>
			<pubDate>Tue, 28 Oct 2008 11:39:06 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Use Self Managed IRAs To Gain Tax Benefits And Generate Bigger Retirement Profits]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1026</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1026</link>
			<description><![CDATA[Millions of people are seriously concerned about the worldwide financial meltdown happening right now, What do they do with their existing retirement money, and how do they wisely invest to generate a comfortable retirement income in the future. The bankers and supposed experts don't seem to have too many good ideas and are grasping at straws! One minute America and the rest of the world is in recession and the financial institutions are running out of funds, the next minute some expert gets on TV and says everything will be okay? So where does that leave the average worker who has no real idea of what is going on in the economy and what is likely to happen.]]></description>
			<pubDate>Tue, 28 Oct 2008 11:38:02 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[New Limit on Excluding Gain When Converting Investment Property to Primary Residence]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1020</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1020</link>
			<description><![CDATA[The Housing Assistance Tax Act of 2008 signed by the President on July 30, 2008 includes a provision which limits the amount of gain that can be excluded when you sell a house used as a primary residence if you also used the house for another purpose, such as a rental.&nbsp;Under the rules of Section 121 of the Internal Revenue Code, you will not owe...&nbsp;]]></description>
			<pubDate>Mon, 27 Oct 2008 16:32:59 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Ready or Not, Here Comes IFRS ]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1011</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1011</link>
			<description><![CDATA[The move away from U.S. Generally Accepted Accounting Principles to
International Financial Reporting Standards is becoming a reality more
quickly than once anticipated. CFOs should start thinking now about how
IFRS will affect their companies so they'll be ready when it comes.]]></description>
			<pubDate>Fri, 24 Oct 2008 12:04:56 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[IRS Letter Ruling Says GST Exemption Allocation to Trust is Invalid]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1010</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1010</link>
			<description><![CDATA[The IRS has ruled in a newly released letter ruling (PLR 2008-38-022) that
an allocation of the generation skipping transfer exemption to a trust was
invalid. Section 2631 grants every individual a GST exemption of $2 million
(for 2008) to be allocated to transfers that may have GST tax potential.
Section 2632 provides methods by which an individual's GST exemption may
be allocated. Pursuant to Reg. Sec. 26.2632-1(b)(4)(i) (if an allocation
is made during life) and Reg. Sec. 26.2632-1(d)(1) (if an allocation is
made at death), the allocation of a GST exemption to a trust is void if
the trust has no GST potential with respect to the transferor for whom the
allocation is being made. The new ruling highlights a situation in which a
GST exemption was allocated to a trust that had no GST tax potential (and
therefore void) and was then reallocated to other trusts that may have GST
tax potential.]]></description>
			<pubDate>Fri, 24 Oct 2008 12:04:54 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Emergency Economic Act Implements Major Tax Changes and Tax Relief ]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1009</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1009</link>
			<description><![CDATA[On October 3, 2008, the President signed The Emergency Economic
Stabilization Act of 2008 into law. The act contains three distinct
divisions: Division A, which addresses the current economic crisis,
provides for a troubled assets relief program to stabilize the economy,
and contains tax reform and relief provisions; Division B, which provides
for energy improvements, extensions and modifications of energy tax
credits; and Division C, which contains alternative minimum tax relief,
extensions of expiring individual and business tax provisions, disaster
tax relief and other miscellaneous tax provisions.]]></description>
			<pubDate>Fri, 24 Oct 2008 12:04:50 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Economic Downturn a Boon for Asset Protection]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=1012</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=1012</link>
			<description><![CDATA[The economic woes that have already impacted so many businesses are a boon
for those of us who practice in the area of asset protection.&nbsp;About
one year ago the flood gates opened and mortgage bankers, mortgage brokers
and real estate developers poured in. There is still a steady flow of real
estate developers and investors who have signed personal guarantees on
bank loans. Now that their properties are upside-down and they are looking
to default on the loans, the personal guarantees are becoming a major
problem.]]></description>
			<pubDate>Fri, 24 Oct 2008 12:04:47 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Outsourcing SOX - Best Options]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=995</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=995</link>
			<description><![CDATA[It is mandatory for all US public companies to adhere to the Sarbanes-Oxley Act (SOX) introduced in the country in July 2002. The primary objective of the Act is to regulate financial practice and corporate governance and restore investor confidence in response to major financial scandals involving Enron, WorldCom and others. But public companies are already grumbling about the costs of abiding with the Act's requirements. The Japanese government similarly, promulgated a law in June 2006, known as J-SOX in order to prevent accounting frauds by public companies and to safeguard investor interest. This will be in force for all fiscal years starting from April 1, 2008. Drawn up on the same lines as the US-SOX, companies listed in Japan and operating in other countries as subsidiary companies have to adhere to J-SOX compliance.]]></description>
			<pubDate>Mon, 20 Oct 2008 11:53:14 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[1031 Exchange: A Section Contained in the Internal Revenue Code]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=994</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=994</link>
			<description><![CDATA[A 1031 exchange is often referred to as a starker exchange. It is a section contained in the internal revenue code providing for the sale of a investment property such a real estate into the purchase of one or more other "like kind" properties. At closing the sale, the proceeds there from are transferred to a third person called a facilitator or a qualified intermediary. He then holds the proceeds till they are used for acquisition of the new property.]]></description>
			<pubDate>Mon, 20 Oct 2008 11:50:11 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Understanding The Difference Between C Corporations And S Corporations]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=990</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=990</link>
			<description><![CDATA[Based on many financial and technical factors, corporations are categorized into different types. Of these categories, two key types of organizations are 'C Corporations' and 'S Corporations.' A 'C Corporation' or a 'C-Corp' is a corporation that qualifies for the taxes under the Sub chapter C of the Internal Revenue Code of the&nbsp;Internal Revenue Service&nbsp;(IRS).&nbsp;&nbsp;]]></description>
			<pubDate>Fri, 17 Oct 2008 12:21:12 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[RUS Amends Accounting Requirements; Defers Rulemaking on Accounting for Renewable Energy Credits]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=969</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=969</link>
			<description><![CDATA[On May 27, 2008, the Rural Utilities Service (&ldquo;RUS&rdquo;) adopted a
final rule amending its Accounting Requirements for Rural Development
Electric Program Borrowers, as set forth in 7 CFR Part 1767.1
These amendments were in large part based on the proposed rule entitled
&ldquo;Accounting Requirements for RUS Electric Program Borrowers,&rdquo;
published on July 13, 2007.2]]></description>
			<pubDate>Wed, 08 Oct 2008 14:46:53 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[IRS Spotlights Abusive Uses of Section 529 Qualified Tuition Programs]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=968</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=968</link>
			<description><![CDATA[The IRS and Treasury recently issued an advance notice of proposed
rulemaking in response to reports of abusive transactions involving
Section 529 qualified tuition programaccounts. The notice announced that
forthcoming proposed regulations would include both a general anti-abuse
rule and specific rules to address perceived inconsistencies between
Section 529 and certain income and transfer tax provisions.]]></description>
			<pubDate>Wed, 08 Oct 2008 14:46:38 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Lack of Planning Can Result in Poor Settlements]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=971</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=971</link>
			<description><![CDATA[The federal tax treatment of litigation settlements or judgments and
related legal fees can have a significant impact on the net value of a
settlement or award. Ideally, tax consequences should be considered from
day one of the litigation process. While proper planning can make a good
settlement better, failure to adequately plan can transform an otherwise
good settlement into a bad one or make a bad settlement even worse.]]></description>
			<pubDate>Wed, 08 Oct 2008 14:46:24 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Tax Court Rules on Value of FLP Interests for Gift Tax Purposes]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=970</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=970</link>
			<description><![CDATA[The Tax Court in the latest of a long line of valuation cases has ruled on
the transfer tax value of an interest in a closely held business. In the
case, Astleford v. Commissioner, the interests were limited interests in a
family limited partnership (FLP). Its significance lies in the size of the
discounts and the determination of the gift tax value of an interest in an
FLP when the FLP owns interests in other partnerships.]]></description>
			<pubDate>Wed, 08 Oct 2008 14:46:08 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[A Business Owner's Guide to Asset Protection from Creditors]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=973</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=973</link>
			<description><![CDATA[A goal of many business owners is to obtain some protection from creditors
for the business owner and his or her family.&nbsp; Planning years before
problems arise is crucial; if you already have creditor problems, it is
mostly too late.&nbsp; As a general rule of thumb, planning action should
be taken four or more years before any expected problems are on the
horizon; more than 10 years is best, given recent changes to the
Bankruptcy Code.]]></description>
			<pubDate>Wed, 08 Oct 2008 14:45:52 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Exchanging Property You Didn't Know You Had: Transferable Development Rights]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=972</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=972</link>
			<description><![CDATA[As vacant land becomes scarce in many parts of the United States and as
states and municipalities have acted to restrict and regulate new
construction, the value of development rights has skyrocketed. As used in
this article, development rights means unused rights to develop a property
to the extent permitted under state or local law. In recent years, some
states and local governments have adopted rules permitting unused
development rights to be transferred to another parcel within the
regulated area that may be used to construct improvements, such as a
building with greater floor space or height than would be permitted in the
absence of those development rights. As a result of the rules permitting
development rights to be transferred to other parcels, an owner of excess
development rights may reap a substantial financial windfall by selling
the transferable development rights to the owner of another parcel who
desires to develop the other parcel.]]></description>
			<pubDate>Wed, 08 Oct 2008 14:45:37 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Common Small Business Bookkeeping Blunders]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=963</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=963</link>
			<description><![CDATA[As the end of year approaches, many small business CPAs and bookkeepers find their stress levels rising. In only a few short weeks, these accountants know they'll see silly bookkeeping errors in many of their small business clients' books--errors that have meant the business owners have paid too little or too much in taxes. Errors that mean the business owner hasn't really been able to effectively manage the finances of the business. Fortunately, these common bookkeeping blunders are easy enough to fix--if you know what they are and if you know the simple steps you can take to avoid making them.]]></description>
			<pubDate>Wed, 08 Oct 2008 09:35:38 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Use Debt Consolidation to Aviod Bankruptcy]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=962</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=962</link>
			<description><![CDATA[Debt is part of our everyday lives; the challenge is to get ahead financially and still avoid bankruptcy. Buying a home, car, and using credit cards instantly puts us all in debt. With worldwide economic difficulties affecting us everywhere interest rates are on the rise. And they keep rising. Have you noticed how much more you pay out each moth? Are the accounts piling up and the pile gets bigger every month, not smaller? Thoughts of how to avoid bankruptcy become more frequent. And when financial institutions put the rates up again it is just another blow. Time to consolidate your debts, and lower the repayments. We all calculate the financial risks we take, but avoid bankruptcy right from the start, if you can. The best way to avoid bankruptcy is not to over spend. Put off buying things you don't really need until you have reduced some of the debt you already have. Make sure your bookwork is always in order, whether you are a business or an individual. This helps to avoid bankruptcy as you have control of the situation and an early warning trouble may be ahead. Good bookwork can help you put strategies in place to avoid bankruptcy earlier. If you neglect your accounting you are asking for trouble, and by the time you catch up it may be too late to avoid bankruptcy.]]></description>
			<pubDate>Wed, 08 Oct 2008 09:32:08 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[How To Choose Accounting Software for Big Business]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=961</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=961</link>
			<description><![CDATA[When deciding to go for accounting software, it must be understood that the best accounting software is the one that performs the entire core accounting functions quickly and accurately. All additional features are secondary to the basic functions. Never forget, it is the rigid rules of accounting that makes the software so consistent throughout. The most comprehensive financial accounting packages incorporate in-depth financial reporting information and are managed by teams of qualified accountants supported by accounts clerks, bookkeepers, and substantial input from automated data sources. At the other end of the scale a self employed sole trader might use accounting software themselves and produce a set of financial accounts for the year in an afternoon.]]></description>
			<pubDate>Wed, 08 Oct 2008 07:49:23 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Accounting Outsourcing - What It Is All About]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=960</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=960</link>
			<description><![CDATA[If you are running a business you must have faced the ever increasing burden of accounts books. In this modern age a solution has become very popular that helps you take care of your accounts properly without taking too much pressure. The solution is known as accounting outsourcing. Accounting outsourcing is basically a process in which you outsource your firm&acirc;&euro;TMs bookkeeping and accounting task to a third party. This third party is contacted through an outsourcing firm. It is a very simple way to take care of your heavy accounting work load at the time of the peak tax season.]]></description>
			<pubDate>Wed, 08 Oct 2008 07:38:44 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Individual Retirement Account Rollovers]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=907</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=907</link>
			<description><![CDATA[IRA's (Individual Retirement Account) are very popular these days, but there is often some confusion as to what a person can and cannot do in terms of rolling the account over. This article will examine a few of the common issues associated with IRA rollovers. It is important to understand that IRA rules change often, so the reader is encouraged to check with current sources before making any final decisions concerning his or her IRA.&nbsp;]]></description>
			<pubDate>Fri, 03 Oct 2008 15:29:46 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Changing Accounting Software: Ingredients For Success]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=908</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=908</link>
			<description><![CDATA[If you are ready to switch accounting software for your business, you know there are hundreds of publishers ready to take your money, as well as thousands of system implementers. There are hosted solutions, web-based solutions, pc-based solutions, MAC solutions - the choices are overwhelming. Here are some things to consider as you begin this process.&nbsp;]]></description>
			<pubDate>Fri, 03 Oct 2008 15:28:39 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Sale Leasebacks May Be Returning]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=955</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=955</link>
			<description><![CDATA[In a sale-leaseback, a business can sell real estate they own and then rent the property back from the investor/buyer under a long-term net lease, which term usually runs for 15 or 20 years plus extensions and options.&nbsp;&nbsp; Sale-leasebacks can be as short as a 5 year term, as well.&nbsp; Real estate can make up a large portion of a company's asset base, which is particularly true in small businesses.&nbsp; The economic climate right now is such that traditional sources of capital have become more difficult and expensive to obtain now.&nbsp; Many private and public companies are focusing on their asset base and cost of capital trying to figure out the best strategy for their growth and expansion.]]></description>
			<pubDate>Mon, 29 Sep 2008 11:37:09 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[IRS Publishes Revised Procedure for Automatic Consent of Accounting Method Changes]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=883</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=883</link>
			<description><![CDATA[The IRS has published sweeping guidance (Rev. Proc. 2008-52) providing new
procedures by which a taxpayer may obtain automatic consent to change to a
different method of accounting. The revenue procedure clarifies, modifies,
amplifies and supersedes Rev. Proc. 2002-9. However, under transition
relief offered in Announcement 2008-84, taxpayers can generally use Rev.
Proc. 2002-9 through Sept. 15, 2008.]]></description>
			<pubDate>Tue, 23 Sep 2008 06:59:03 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[New Housing Recovery Act Provides Major Tax Incentives to Aid Real Estate Market and Businesses ]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=884</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=884</link>
			<description><![CDATA[On July 30, 2008, the president signed The Housing and Economic Recovery
Act of 2008 into law. The Housing Act contains three distinct divisions:
Division A, which addresses housing finance reform and the rescue of FNMA
and FHLMC; Division B, which provides for foreclosure prevention; and
Division C, which contains tax incentives, reforms and revenue offsets.]]></description>
			<pubDate>Tue, 23 Sep 2008 06:58:49 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[The Scope of FDIC Coverage]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=882</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=882</link>
			<description><![CDATA[The Federal Deposit Insurance Corporation&nbsp;insures deposit accounts
up to a standard maximum deposit insurance amount. In order to qualify for
FDIC coverage, however, an account must meet three main
criteria:First, an account must be held by an FDIC-insured bank in
order to be protected by the FDIC. The FDIC only insures deposit accounts
at FDIC member banks. 12 U.S.C. 1811 outlines the requirements a bank must
meet to become FDIC-insured. To determine whether a particular bank is
FDIC-insured, however, investors can search for FDIC member banks in their
area directly through the FDIC.]]></description>
			<pubDate>Fri, 19 Sep 2008 09:04:24 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[FDIC Insurance]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=881</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=881</link>
			<description><![CDATA[As the federal government has taken over more than ten failed banks this year, panicked consumers are wondering how to ensure their bank deposits are adequately protected by Federal Deposit Insurance Corporation ("FDIC") insurance.&nbsp; This article briefly outlines the level of insurance protection provided to various types of deposit accounts.]]></description>
			<pubDate>Fri, 19 Sep 2008 09:04:01 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Don't Give Up On Valuation Cases]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=869</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=869</link>
			<description><![CDATA[There's no all-purpose way to value a closely held business.
Professional appraisers look at a variety of factors such as the company's
revenue, assets, competition and key executives. If the IRS rejects the
valuation of an inherited business, you may be able to successfully fight
a higher tax bill. Read the story of one family that took on the IRS in
Tax Court &mdash; and eventually won.]]></description>
			<pubDate>Tue, 02 Sep 2008 07:13:07 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[1031 Exchanges of Residential Property IRS Issues New Safe-Harbor Guidelines]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=870</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=870</link>
			<description><![CDATA[Rev Proc 2008-16, 2008-10 IRB.A new IRS Revenue
Procedure provides a safe harbor under which the IRS will not challenge
whether a dwelling unit qualifies as property held for productive use in a
trade or business or for investment under Code Sec. 1031.&nbsp; Rev. Proc.
2008-16 sets rental standards, establishes a qualifying use period, and
concludes that limited personal use will not prevent a dwelling unit from
qualifying under the holding purpose test of the tax-free exchange
rules.&nbsp; This Revenue Procedure comes on the heels of Moore v.
Commissioner, T.C. Memo. 2007-134 (the recent vacation home case).]]></description>
			<pubDate>Tue, 02 Sep 2008 07:12:55 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Schools, Churches and Other Non-Profits Get Ready: New Rules for Section 403(b) Plans Require Substantial Changes]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=862</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=862</link>
			<description><![CDATA[January 1, 2009, is the deadline by which employers maintaining Internal
Revenue Code &sect;403(b) plans must have formal plan documents in place
and satisfy new compliance rules. Participation in &sect;403(b) plans is
limited to employees of public schools and charitable organizations, as
well as select ministers and employees of churches. Plan assets are held
in either annuity contracts issued by an insurance company or in custodial
accounts invested solely in mutual funds.]]></description>
			<pubDate>Tue, 26 Aug 2008 08:34:00 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Four Questions Online Sellers Need to Ask About E-Commerce Sales Tax]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=863</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=863</link>
			<description><![CDATA[Over the course of two decades, online sales went from fad to fortune to
bust, and have now settled in as part of everyday business for a wide
variety of small to medium sized companies. In fact, if you&rsquo;re
selling something then you most likely have an online component &ndash;
and if you don&rsquo;t, you&rsquo;re thinking about it. The wide net that
can be cast brings in more buyers from more places, giving sellers the
ability to leapfrog to a new level of success.]]></description>
			<pubDate>Tue, 26 Aug 2008 08:33:39 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Sales Tax is NOT an Expense on the Profit and Loss Statement]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=859</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=859</link>
			<description><![CDATA[We need to take a moment and review a very important point that will make your profit and loss statement a much more meaningful report very quickly. That point is - sales tax that you collect from your customers is not considered an expense of your business and sales tax should not be listed as an expense item on your profit and loss report. Your business is simply acting as a "collection agent" for the state sales tax. You charge it to your customers where applicable, they pay it to you, and you turn around and pay it to the state. In some states (Ohio is a good example), they allow you to keep a fraction of the collections by giving a discount for paying the tax on time. This discount is actually income to your business if you deduct it from your sales tax return.]]></description>
			<pubDate>Fri, 22 Aug 2008 13:29:52 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Three Dozen Ways To Reduce Your Carbon Footprint]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=857</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=857</link>
			<description><![CDATA[Toyota plans to offer solar-powered air conditioning on its Prius cars in
the future ... Whole Foods bans plastic bags in its stores nationwide ...
Bayer is working on eco-commercial buildings that produce zero emissions
... A Colorado brewing company switches from electricity to wind power ...
Mohawk recycles nearly three billion plastic bottles into carpet each year
... DoubleTree Guest Suites in New York's Times Square has green rooms
with features like energy-efficient light bulbs, water-saving shower
heads, refillable shampoo containers in the shower and optional daily
sheet changing ... Wal-Mart announces it will dramatically increase the
amount of local produce sold in its stores -- a move that will save
millions in fuel costs.]]></description>
			<pubDate>Thu, 21 Aug 2008 09:33:52 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Congress Passes Housing Relief Tax Bill]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=858</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=858</link>
			<description><![CDATA[Congress has passed and the president is expected to sign a housing relief
bill with over $15 billion in tax incentives and several important revenue
offsets. The bill's tax provisions are aimed at both businesses and
individuals, and will have a significant impact on a large number of
taxpayers. The changes will affect real estate investment trusts, provide
incentives for first-time homebuyers, change tax rules for housing bonds
and credits, allow some taxpayers to accelerate AMT and R&amp;D credits
and, beginning in 2010, impose new payment card reporting requirements. A
detailed description of the bill's tax provisions follows.]]></description>
			<pubDate>Thu, 21 Aug 2008 09:33:27 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[SEC Proposes Interactive Data to Improve Financial Reporting ]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=851</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=851</link>
			<description><![CDATA[The Securities and Exchange Commission&nbsp;has proposed new rules which
would require companies to provide financial statement information in an
interactive data format using eXtensible Business Reporting Language. XBRL
is an electronic format, similar to HTML, that tags or labels financial
data using a standard set of definitions. The proposed rules would apply
to domestic and foreign public companies that prepare financial statements
in accordance with U.S. generally accepted accounting principles and to
foreign private issuers that prepare their financial statements in
accordance with international financial reporting standards.]]></description>
			<pubDate>Tue, 12 Aug 2008 07:14:22 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Opinion Letters on Compensation Paid by Charities]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=852</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=852</link>
			<description><![CDATA[The Internal Revenue Service now keeps a close eye on charities and social
welfare organizations to ensure that their tax-exempt status is not
abused.&nbsp;One of the primary factors the IRS examines is the amounts of
compensation and benefits provided by these tax-exempt organizations to
their key employees.]]></description>
			<pubDate>Tue, 12 Aug 2008 07:14:04 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Know the Ins and Outs of 'Reasonable Compensation']]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=838</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=838</link>
			<description><![CDATA[The IRS sometimes challenges the compensation of corporate shareholder
employees and decides the amounts are too high or too low. If auditors
determine your salary is unreasonable, you company could be hit with back
taxes and penalties. Here are two cases of taxpayers who contested IRS
salary determinations in court, along with some ways to justify a
reasonable salary.]]></description>
			<pubDate>Wed, 30 Jul 2008 08:14:57 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Ruling Offers Flexibility For Irrevocable Life Insurance Trust Setup]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=837</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=837</link>
			<description><![CDATA[For years, tax advisors and their clients have been faced with a problem.
How can an individual unravel an irrevocable life insurance trust without
running afoul of Section 101(a)(2)? In Rev. Rul. 2007-13, 1 the
IRS provides tax advisors and their clients with an effective tool to cut
through the transfer for value rules of Section 101(a)(2)-the grantor
trust. Rev. Rul. 2007-13 holds that a transfer of a life insurance policy
from one grantor trust to another grantor trust, where both trusts are
wholly owned by the same grantor, is not a transfer for valuable
consideration within the meaning of Section 101(a)(2).]]></description>
			<pubDate>Wed, 30 Jul 2008 08:14:34 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Proposed Regs Regarding the Alternate Valuation Date Contradict Tax Court]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=800</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=800</link>
			<description><![CDATA[Recently proposed regs (REG-112196-07) on an estate's election for an
alternate valuation date contradict a recent Tax Court decision.In
Kohler v. Commissioner, the Tax Court held that valuation
discounts attributable to restrictions imposed on closely held stock
pursuant to a post-death reorganization of the closely held company should
be taken into consideration in valuing the stock on the AVD. The IRS chose
not to follow the holding in Kohler, citing legislative and prior
case history.]]></description>
			<pubDate>Wed, 09 Jul 2008 13:17:03 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Combine Deductions For a Real Tax-Saving Windfall]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=439</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=439</link>
			<description><![CDATA[On February 13, President Bush signed the Economic Stimulus Act of 2008,which contains the valuable rebates for individual taxpayers. In addition,the new law includes two significant business tax breaks in the form ofbigger depreciation write-offs:Bigger Section179 depreciation deductions are allowed for qualifying assetsplaced in service in tax years beginning in 2008. Under the Section 179deduction privilege, many small and medium-sized businesses can instantlydepreciate most or all of the cost of qualifying new and used assets inthe year they are first placed inservice.First-year bonus depreciationof an extra 50 percent is allowed for certain assets.]]></description>
			<pubDate>Wed, 09 Jul 2008 13:03:37 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Four Questions Online Sellers Need to Ask About E-Commerce Sales Tax]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=635</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=635</link>
			<description><![CDATA[Over the course of two decades, online sales went from fad to fortune to bust, and have now settled in as part of everyday business for a wide variety of small to medium sized companies. In fact, if you&rsquo;re selling something then you most likely have an online component &ndash; and if you don&rsquo;t, you&rsquo;re thinking about it. The wide net that can be cast brings in more buyers from more places, giving sellers the ability to leapfrog to a new level of success. But just as online sales yield higher income for companies, the states in which they do business expect to be compensated through both sales and income tax.]]></description>
			<pubDate>Thu, 26 Jun 2008 09:55:09 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Is Form 1065 Necessary for Partnerships Between Spouses?]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=438</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=438</link>
			<description><![CDATA[Where a partnership is owned entirely by a husband and wife who file ajoint return, there has been the question of whether a Form 1065 for thepartnership is necessary. In the Small Business and Work Opportunity TaxAct of 2007, signed into law in May 2007, Congress added section 761(f) toaddress joint ventures between spouses who file joint returns, effectivefor years beginning after Dec. 31, 2006.]]></description>
			<pubDate>Tue, 24 Jun 2008 08:07:00 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Opportunities and Obstacles: §1031 Like-Kind Exchanges Involving Tenant-in-Common Properties]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=437</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=437</link>
			<description><![CDATA[Like-kind exchanges allow an investor to swap property and defer the
capital gains tax. Section 1031 of the Internal Revenue Code allows an
investor to defer taxable gains on the sale of certain types of investment
property if the investor exchanges that investment property for similar or
like-kind investment property. Real property can be exchanged as like-kind
property. One type of real property may be exchanged for another. So long
as the real property is investment property only, the type of real
property swapped does not matter. A warehouse/distribution property may be
swapped for a shopping center or vacant land may be swapped for an office
building. Interests, however, in business entities, such as a partnership
interest, shares of a corporation or membership interests in an LLC do not
qualify for &sect;1031 tax-deferred exchange treatment, even if those
business entities manage or hold investment real property.1 ]]></description>
			<pubDate>Wed, 18 Jun 2008 10:26:44 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Is Your Organization Ready for the New Form 990?]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=435</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=435</link>
			<description><![CDATA[The Internal Revenue Service has updated and revised its Form 990, theannual information return required to be filed by tax-exemptorganizations. The redesigned Form 990 reorganizes many of the elements ofthe old form, so tax-exempt organizations will have to orient themselveswith the new layout. More importantly, the IRS has greatly increased thenumber of schedules to Form 990. The purpose of the new and expandedschedules is to gather increased amounts of information and allow thepublic to view the collected data.]]></description>
			<pubDate>Thu, 12 Jun 2008 09:55:19 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[U.S. Supreme Court Rejects the Concept of "Scheme Liability"]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=441</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=441</link>
			<description><![CDATA[On January 15, 2008, the U.S. Supreme Court issued a much-anticipated
decision that significantly reduces the risk that a third party &ndash;
such as a vendor or financial institution &ndash; that does business with
an issuer who files financial statements that violate the federal
securities laws, would itself be held liable for violations of Section
10(b) of the Securities and Exchange Act of 1934, as amended, and
Securities and Exchange Commission Rule 10b-5. This decision should
significantly insulate financial institutions and others who work with
issuers of publicly traded securities from federal securities law
liability based on a claim that, but for the conduct of the third party,
the issuer would not have been able to make an actionable misstatement.]]></description>
			<pubDate>Wed, 28 May 2008 07:37:58 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[ESOP Update: Section 409(p): Letter Ruling]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=434</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=434</link>
			<description><![CDATA[IRS Issues First Private Letter Ruling on Section 409(p) of the
CodeOn January 25, 2008, the IRS published the first
ruling on the S corporation ESOP antiabuse rules codified in Section
409(p) of the code since the rules became law in 2001. Because the rules
were complicated and left many questions unanswered, in 2003 the Treasury
Department issued temporary and proposed regulations to provide guidance
on the application of the provisions of Section 409(p) of the code. On
December 17, 2004, a new set of temporary and proposed regulations were
issued toclarify, expand and modify the 2003 regulations&#894; these
regulations were ultimately finalized in December 2006. Despite these
actions by the Treasury Department, it has taken the IRS more than seven
years to first interpret these complicated and draconian rules.]]></description>
			<pubDate>Wed, 28 May 2008 07:37:41 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[IRS Lays Mine Field for Some Stock Transactions]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=442</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=442</link>
			<description><![CDATA[Several years ago promoters devised a strategy to help corporations avoid
large potential tax bills that would otherwise be due upon a sale of their
business. The strategy was a so-called intermediary transaction. An
intermediary corporation with unused tax benefits, such as net operating
loss carryforwards, would acquire the stock of the corporation with the
potential tax bill and then immediately sell off its appreciated assets to
the real purchaser, using the intermediary's tax benefits to shelter the
tax that would otherwise be due.]]></description>
			<pubDate>Mon, 19 May 2008 13:02:36 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Exchanging Property You Didn't Know You Had: Transferable Development Rights]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=468</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=468</link>
			<description><![CDATA[As vacant land becomes scarce in many parts of the United States and as states and municipalities have acted to restrict and regulate new construction, the value of development rights has skyrocketed. As used in this article, &ldquo;development rights&rdquo; means unused rights to develop a property to the extent permitted under state or local law.]]></description>
			<pubDate>Wed, 14 May 2008 07:23:10 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Collaborative Arrangements - New Presentations and Disclosure Requirements]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=436</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=436</link>
			<description><![CDATA[The FASB&rsquo;s Emerging Issues Task Force recently issued new guidance
for entities that enter into collaborative arrangements. Entities
sometimes enter into these arrangements to participate in a joint
operating activity that may involve the joint development and
commercialization of intellectual property, such as a drug candidate,
motion pictures or software. However, these arrangements are not limited
to specific industries or to arrangements that involve intellectual
property. For example, an arrangement may involve the activities of a
jointly operated facility, such as a hospital.]]></description>
			<pubDate>Mon, 12 May 2008 11:22:51 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Senate Passes Bill Including Energy And Conservation Tax Benefits]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=440</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=440</link>
			<description><![CDATA[On December 14, 2007, the Senate passed its version of the Farm, Nutrition
and Bioenergy Act of 2007. Included in the bill are a variety of
provisions that could affect all taxpayers involved in energy and land
conservation efforts. As with most legislation, however, there are
continuing debates over how to pay for the tax benefits granted under the
bill.]]></description>
			<pubDate>Mon, 12 May 2008 11:22:36 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[A Business Owner's Guide to Asset Protection from Creditors]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=469</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=469</link>
			<description><![CDATA[Business owners, including professionals, worry about protecting their assets from future unknown creditors as part of prudent planning&nbsp;against unforeseen claims.&nbsp; What are the approaches that can be useful?&nbsp; A combination of three basic strategies can accomplish quite a bit for a business&nbsp;owner.&nbsp; Each strategy is like the leg of a stool: it takes all three legs for the stool to stand well.&nbsp; This article will outline some key practical approaches in a nontechnical way.]]></description>
			<pubDate>Thu, 08 May 2008 11:49:57 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[IRS Issues Interim Reporting and Withholding Guidance under Section 409A]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=443</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=443</link>
			<description><![CDATA[On November 30, 2006, the Internal Revenue Service issued Notice 2006-100(the Notice), which provides interim guidance to employers and otherpayers regarding their reporting and withholding obligations for calendaryears 2005 and 2006 with respect to deferrals of compensation and amountsincludible in gross income under Section 409A of the Internal Revenue Code(the Code). The notice also provides guidance to employees and otherservice providers regarding their income tax reporting and tax paymentobligations with respect to amounts includible in income under Section409A for 2005 and 2006.]]></description>
			<pubDate>Mon, 05 May 2008 10:54:46 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[The Economic Stimulus Act Leaves Some Things to Consider]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=428</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=428</link>
			<description><![CDATA[As you may have heard, the Economic Stimulus Act of 2008 has increased themaximum limit for Section 179 expense depreciation to $250,000 and createda 50 percent write-off bonus depreciation for qualified property placed inservice in 2008. This tax law is very tax advantageous for business ownersthat purchase new equipment before Jan. 1, 2009.]]></description>
			<pubDate>Thu, 24 Apr 2008 08:18:49 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Tax Court Respects Steps in Deferral Transaction]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=432</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=432</link>
			<description><![CDATA[In Countryside v. Commissioner, TC Memo 2008-3 (filed Jan. 2.
2008), the Tax Court ruled favorably for a partner on an economic
substance challenge by the IRS where a parent partnership incurred debt,
formed lower-tier partnerships (which purchased non-marketable securities)
and made a liquidating distribution to the partner of interests in the
lower-tier partnerships. The decision was filed in response to the
partner's partial summary judgment motion.

]]></description>
			<pubDate>Thu, 24 Apr 2008 08:18:39 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Some Planning Considerations Regarding Qualified Plans and IRAs]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=425</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=425</link>
			<description><![CDATA[In the estates of many highly compensated employees and professionals, an interest in a qualified plan or in an IRA (often a rollover from a qualified plan) may be the single largest asset and may be a very large proportion of the entire estate. For other estates, such interests will often be quite significant even if outweighed by other assets. Tax deductible contributions and tax free growth make qualified plans and IRAs a preferred form of retirement savings vehicle. For professionals in particular, but for others as well, the asset protection features of qualified plans (and to a lesser extent IRAs) can be of enormous significance.]]></description>
			<pubDate>Wed, 16 Apr 2008 16:00:09 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Supreme Court Ruling Allows Individuals to Recover Individual 401(k) Account Losses]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=424</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=424</link>
			<description><![CDATA[The U.S. Supreme&nbsp;issued its ruling in LaRue v. DeWolff, Boberg &amp; Associates, Inc. The high court disagreed with the&nbsp;4th Circuit Court of Appeals' decision that a participant in a 401(k) plan is prohibited from using Section 502(a)(2) of the Employee Retirement Income Security Act to recover losses allegedly caused by his employer's failure to carry out his investment instructions. &quot;Although [Section] 502(a)(2) does not provide a remedy for individual injuries distinct from plan injuries,&quot; the majority wrote, &quot;that provision does authorize recovery for fiduciary breaches that impair the value of plan assets in a participant's individual account.&quot; LaRue v. DeWolff, Boberg &amp; Associates, Inc., No. 06-856, U.S. Supreme Court (February 20, 2008).]]></description>
			<pubDate>Wed, 02 Apr 2008 16:40:35 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Disregarded Entities To Pay Their Own Employment And Certain Excise Taxes Under Final Regulations]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=380</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=380</link>
			<description><![CDATA[In an attempt to alleviate some of the administrative difficulties
encountered due to different reporting requirements for disregarded
entities and the employment tax reporting rules, the IRS issued final
Treasury Regulations pertaining to Internal Revenue Code Sections 34, 361
and 7701. These regulations take effect as of January 1, 2009, for
employment taxes, and as of January 1, 2008, for the applicable federal
excise taxes.]]></description>
			<pubDate>Wed, 02 Apr 2008 16:39:55 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Opportunity During Recession?]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=412</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=412</link>
			<description><![CDATA[The media is full of news about recession. The economy has become a primary topic on the campaign trail. While it's easy to get discouraged with all these challenges, tough economic times can also be a time to prepare for the future when the economy takes the next upturn.&nbsp; ]]></description>
			<pubDate>Tue, 01 Apr 2008 13:41:00 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Attorney-Client and Tax Advisors = Privileges]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=418</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=418</link>
			<description><![CDATA[The attorney-client privilege is naturally of major importance to lawyers, but with the advent of the federal tax practitioner privilege under Internal Revenue Code (IRC) Section 7525, it has also become of major importance to accountants and enrolled agents because the IRC ' 7525 privilege is, to the extent it applies, coextensive with the attorney-client privilege and has the same limitations.]]></description>
			<pubDate>Fri, 28 Mar 2008 10:16:28 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[How to do a 1031 Exchange on a Vacation Home Held for Investment]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=417</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=417</link>
			<description><![CDATA[Real estate investors are increasingly interested in acquiring properties held primary for investment in vacation or resort destinations such as mountain resorts, coastal locations, golf developments and many other recreational destinations. Do these investments in vacation area real estate qualify for the tax deferral benefits provided by the increasingly popular benefits under IRC Section 1031?]]></description>
			<pubDate>Thu, 27 Mar 2008 14:19:18 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[IRS Issues Model 403(b) Plan Language]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=379</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=379</link>
			<description><![CDATA[The Internal Revenue Service has released Revenue Procedure 2007-71,
providing guidance on certain aspects of recently finalized comprehensive
regulations under Internal Revenue Code section 403(b).[1]The revenue
procedure, which is effective on December 17, 2007, provides model plan
language that may be used by certain employers to comply with the
requirement in the new regulations that 403(b) arrangements be maintained
pursuant to a written plan. In addition, Rev. Proc. 2007-71 provides
guidance on how to apply the new regulations to certain annuity contracts
issued prior to the regulations January 1, 2009, effective date.]]></description>
			<pubDate>Wed, 26 Mar 2008 08:16:31 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Federal Income Tax Issues of Abusive Trust Tax Shelters]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=373</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=373</link>
			<description><![CDATA[Promoters of abusive trust tax shelters represent that persons can set up a system of complex trusts, including a &ldquo;business trust,&rdquo; &ldquo;a family trust,&rdquo; a &ldquo;charitable trust,&rdquo; and &ldquo;unit trusts,&rdquo; which can be legally used to hide income and assets from the IRS.]]></description>
			<pubDate>Tue, 25 Mar 2008 10:32:07 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[A Step by Step Guide to Selling Your Business]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=288</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=288</link>
			<description><![CDATA[Selling a business tends to be a surprisingly difficult and even emotional experience for most owners.&nbsp; However, the process becomes much easier when the seller knows what to expect.&nbsp; A good corporate attorney can uncover the mystery of selling a business by walking the owner through every phase of the sale.Before the business ever reaches the selling block, there are many things the corporate attorney and other advisors can do to enhance the value of the business, shorten the due diligence phase and hopefully simplify the entire process.]]></description>
			<pubDate>Tue, 25 Mar 2008 10:30:23 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[IRA's, Qualified Retirement Plans ("QRPs"), and Medicaid Planning:]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=320</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=320</link>
			<description><![CDATA[As you have no doubt learned by now, Medicaid planning (i.e., qualifying
for eligibility) and protecting retirement assets are goals that often
conflict. The first goal is to obtain financial assistance for necessary
health care, while the second goal is to accumulate and protect wealth
intended for retirement spending or to benefit heirs.]]></description>
			<pubDate>Wed, 19 Mar 2008 08:22:25 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Proposed Regulations Released on Automatic Enrollment]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=321</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=321</link>
			<description><![CDATA[On the heels of the Department of Labor&rsquo;s qualified default
investment alternative regulations, the Department of the Treasury
released last week proposed regulations on automatic contribution
arrangements, providing long-awaited guidance for plan sponsors and
fiduciaries. The Pension Protection Act of 2006 codified the Internal
Revenue Service&rsquo;s prior approval of &ldquo;automatic
enrollment&rdquo; 401(k) plans, section 457 state and local government
plans and section 403(b) tax-sheltered annuities, and added a second safe
harbor plan design for 401(k) plans that allows plan sponsors to avoid
certain nondiscrimination testing. In addition, the PPA added a limited
means by which participants may withdraw automatic contributions without
penalty. The proposed regulations are effective for plan years beginning
on or after January 1, 2008, and may be relied upon pending the
publication of final rules.]]></description>
			<pubDate>Wed, 19 Mar 2008 08:21:30 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Charitable Remainder Unitrust: Charitable Gift or Smart Retirement Planning?]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=323</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=323</link>
			<description><![CDATA[Estate planners have several tools and techniques at their disposal for
helping clients in meeting their tax and non-tax planning needs. One such
technique, the charitable remainder unitrust, also called a CRUT, combines
a client&rsquo;s charitable intentions with the opportunity to spread the
receipt and taxation of income over several years. For this reason the
CRUT is often a good choice for those who desire to maintain a stream of
income during their lifetimes, but who would also like to leave a part of
their estate to charity.]]></description>
			<pubDate>Wed, 19 Mar 2008 08:20:44 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[SOX 404 Deadline Looms]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=322</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=322</link>
			<description><![CDATA[As the clock winds down on the December 15, 2007, deadline for
managements&rsquo; internal control assessment, nonaccelerated filers are
scrambling to comprehend and utilize the SEC&rsquo;s Final Interpretive
Guidance regarding management&rsquo;s report on internal control over
financial reporting.&nbsp;This guidance has an effective date of June 27,
2007 and is intended to ease the compliance implementation requirements of
Section 404 (SOX 404) of the Sarbanes-Oxley Act.&nbsp;Nonaccelerated
filers, as smaller companies, may face disproportionate costs related to
SOX 404 compliance when compared to accelerated filers. After months of
waiting for yet another extension, the time has come for nonaccelerated
businesses to utilize the new guidance in their initial efforts to comply
with SOX 404 and hopefully reduce the expected costs.]]></description>
			<pubDate>Wed, 19 Mar 2008 08:20:27 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[The Rebirth of a Business]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=413</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=413</link>
			<description><![CDATA[Business owners are experiencing more rapid change and more complicated challenges than ever.&nbsp; As companies work to grow their businesses and expand their markets, it becomes necessary to consider acquisitions, recapitalization or merger.After decades of working with clients in this arena, we see an increasing need to dedicate tools and resources specifically to companies on the brink of growth or significant change.]]></description>
			<pubDate>Thu, 13 Mar 2008 08:49:15 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[End of the Year Tax Legislation for 2007]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=411</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=411</link>
			<description><![CDATA[At the end of 2007, Congress passed and President Bush signed several
pieces of tax legislation that affect individuals and businesses. This
legislation included the Mortgage Forgiveness Debt Relief Act of 2007, the
Tax Technical Corrections Act of 2007 and the Tax Increase Prevention Act
of 2007. The following discusses some of the important changes to the
Internal Revenue Code included in these pieces of legislation. ]]></description>
			<pubDate>Fri, 29 Feb 2008 14:22:19 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[A Plethora Of Changes In Federal And State Tax Laws]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=326</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=326</link>
			<description><![CDATA[In a virtual avalanche of legislation enacted over this past summer,
numerous changes have been made in federal, state and local tax laws,
including the federal income tax rules governing qualified retirement
plans and IRAs, that may be of significance in your personal or business
financial, retirement, tax and estate planning.]]></description>
			<pubDate>Tue, 26 Feb 2008 10:58:41 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Federal Gift Tax Issues of Abusive Trust Tax Shelters]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=410</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=410</link>
			<description><![CDATA[A federal gift tax is imposed on property transferred by gift. The gift tax applies whether the transfer is in trust or otherwise, direct or indirect, and whether the property transferred is real or personal, tangible or intangible. The transfer of trust property in which the trustee has no beneficial interest is not a gift by the trustee to the donee. However, such a transfer of property may be treated as a gift by the trustor, if, until the transfer, the trustor had the power to change the beneficiaries by amending or revoking the trust.]]></description>
			<pubDate>Fri, 22 Feb 2008 12:48:39 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Estate Planning - Reasons For Review]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=328</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=328</link>
			<description><![CDATA[We are fast approaching December 31, and this is the ideal time to review
your estate planning. As you do, we urge you to look beyond the standard
year-end tax planning. As the holidays approach, we encourage you to focus
on one of the most important gifts you can give your family: a
well-planned estate that saves them time, money, taxes and trouble in the
event of your death or incapacity.]]></description>
			<pubDate>Wed, 20 Feb 2008 12:47:57 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Negotiate a Business Loan on Your Terms]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=409</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=409</link>
			<description><![CDATA[For most small businesses, banks remain the primary source of capital.&nbsp; Because banks have something businesses want, namely money, businesses believe they have no leverage when negotiating loan agreements.&nbsp; However, this it not necessarily the case.]]></description>
			<pubDate>Wed, 20 Feb 2008 12:46:48 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[As a General Rule, Keep It Simple: Ten Tips For Tax Provision Preparation]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=327</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=327</link>
			<description><![CDATA[In theory, FAS 109, Accounting for Income Taxes, is easy. This accounting
pronouncement requires entities to record income tax expense for domestic,
foreign, state and local income. It also details how to account for
different accounting methods between what is recorded for financial
statement and income tax purposes. As a general rule, these differences
between generally accepted accounting principles (GAAP, or commonly
referred to as &ldquo;book&rdquo;) and tax are divided into two
categories, either permanent differences or temporary differences.]]></description>
			<pubDate>Thu, 14 Feb 2008 13:21:13 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Net Value Regulations Illustrate Need for Careful Planning When Forming Partnerships and LLCs]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=329</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=329</link>
			<description><![CDATA[Taxpayers holding partnership and limited liability company interests often
use special purpose entities for a number of reasons, including a desire
to specially allocate partnership liabilities so as to increase tax basis
and permit the targeted allocation of deducible losses. On October 10,
2006, the IRS and the Treasury Department issued new regulations that
restrict this type of special allocation. ]]></description>
			<pubDate>Wed, 13 Feb 2008 14:30:29 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[New Tax Shelter Reporting Requirements and Penalties Enacted by Congress]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=330</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=330</link>
			<description><![CDATA[The Tax Increase Prevention and Reconciliation Act of 2005 (TIPRA), enacted
earlier this year, may expose tax-exempt entities and their managers
&mdash; potentially including outside investment managers &mdash; to
significant new penalties for engaging in &ldquo;prohibited tax shelter
transactions.&rdquo; This term is broad and includes some transactions
that have not been deemed abusive by the IRS. TIPRA also creates new
disclosure and reporting requirements for parties to such transactions.]]></description>
			<pubDate>Wed, 13 Feb 2008 14:29:59 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Recent Rulings Address Limits of Sarbanes-Oxley Act Protections for Whistleblowers]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=331</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=331</link>
			<description><![CDATA[The U.S. Department of Labor's (DOL) appellate body, the Administrative
Review Board (the board), recently rejected an expansive view of the type
of conduct that might have an impact on shareholders sufficient to invoke
the whistleblower protections of SOX. In Platone v. Flyi,
Inc.,[i] the board specified that SOX protects only those
whistleblowers who allege fraudulent activity that involves securities
fraud or otherwise affects shareholders of publicly traded companies. The
Board overruled a DOL Administrative Law Judge (ALJ) who had held that SOX
protected an employee who had complained of alleged abuse by airline
pilots of their collective bargaining agreement's provisions for
compensation for lost flight time during union activities. The board held
that SOX does not cover &quot;employee complaints about how a public
company spends its money and pays its bills.&quot; Even with respect to
allegations of bank, mail and wire fraud&mdash;to which SOX explicitly
applies&mdash;the board limited protection to conduct &quot;at least of a
type that would be adverse to investors' interests,&quot; relying on
Congress's preamble to SOX, which explains that the law is meant
&quot;[t]o protect investors.&quot;]]></description>
			<pubDate>Tue, 05 Feb 2008 14:51:44 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[The Importance of a Fiduciary in Estate Planning]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=332</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=332</link>
			<description><![CDATA[The most commonly cited reasons for estate planning are protecting an
estate and passing on property to loved ones. Along with these goals,
estate planning can prevent family feuds. Frequently overlooked and
underemphasized, preventing infighting among heirs can be simple to
implement &ndash; yet costly if ignored. There are several ways to help
prevent these uncomfortable situations, including meeting with your heirs
and attorney before and after the estate plan is in place. At these
meetings, you should review the decisions made, the reasons behind the
decisions, the use of trusts, and the formulas to be used in the event of
a &quot;tie&quot; between heirs over an article of tangible personal
property. Another important tool in the estate planning arsenal is the
choice of fiduciary. ]]></description>
			<pubDate>Tue, 05 Feb 2008 14:50:47 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Why not convert?]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=384</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=384</link>
			<description><![CDATA[If you are starting a new business or just making a passive investment, selecting the proper legal structure is critical.&nbsp; If you already have a business or investment with others, you should review the business form you are using on a regular basis to determine whether it is still the best choice.]]></description>
			<pubDate>Tue, 05 Feb 2008 14:50:32 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Treasury Department and IRS Issue Proposed Regulations Relating to the Deduction and Capitalization of Expenditures Relating to Tangible Property]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=333</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=333</link>
			<description><![CDATA[The Treasury Department and IRS have issued proposed regulations governing
the deduction and capitalization of expenditures connected with the
acquisition, production or improvement of tangible property. The proposed
regulations clarify and expand upon rules contained in the existing final
regulations under Section 263(a).The proposed regulations create new
simplifying conventions and bright-line tests to add clarity regarding
whether certain costs should be capitalized or deducted. When finalized,
these regulations should present opportunities to change or adopt methods
of accounting to accelerate the deduction of expenses connected with the
acquisition, production or improvement of tangible property.]]></description>
			<pubDate>Tue, 05 Feb 2008 14:50:18 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Federal Estate Tax Issues of Abusive Trust Tax Shelters]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=383</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=383</link>
			<description><![CDATA[The following discussion is based on a Declaration of Trust effected in 1977 by Mary and her late husband, Roy, which they purchased from the Institute. In 1994, the author&rsquo;s services were retained to assist Mary&rsquo;s attorney in extricating her from the Declaration of Trust and to design and implement an effective estate plan for her.]]></description>
			<pubDate>Mon, 28 Jan 2008 08:32:15 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Seventh Circuit Affirms Denial of Estate's Charitable Deduction]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=381</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=381</link>
			<description><![CDATA[In general, section 2055(e)(2) disallows an estate tax charitable deduction
for the transfer of an interest in property in which part of the interest
passes to a charitable entity and part of the interest passes to a
non-charitable entity unless: (1) in the case of a remainder interest, the
interest passes to a trust that is a charitable remainder trust or a pooled
income fund, or (2) in the case of any other interest, such interest is in
the form of a guaranteed annuity or unitrust amount. ]]></description>
			<pubDate>Fri, 25 Jan 2008 11:13:59 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[SpringCM's Order to Pay Solution Drives Increased Productivity]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=334</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=334</link>
			<description><![CDATA[From delivery of a purchase order, to receipt of an invoice for processing,
through the payment and delivery of remittance &mdash; SpringCM document
management solutions help you connect, automate, and optimize critical
business processes.]]></description>
			<pubDate>Fri, 25 Jan 2008 11:13:14 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Health Savings Accounts (HSA) are Catching On]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=335</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=335</link>
			<description><![CDATA[While health care costs continue to hover somewhere in the stratosphere, a
down-to-earth strategy for reducing your personal costs is gaining a solid
footing. After nearly three years, health savings accounts (HSAs) are
catching on as a simple and sensible way to reduce health insurance costs
while taking advantage of a generous income tax deduction.]]></description>
			<pubDate>Fri, 25 Jan 2008 11:12:42 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[On-Demand Document Management: Five Tests to See if it's Right for You]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=336</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=336</link>
			<description><![CDATA[A fully-integrated approach to document capture, retention and management
is essential given your need to know &ndash; where content is located, who
has access to it, who may change, copy, or delete it? And during legal
discovery, can all of it be found and locked down? Learn how these
&ldquo;Five Tests&rdquo; can help you evaluate on-demand vs. on-premise
software in managing information assets.]]></description>
			<pubDate>Thu, 17 Jan 2008 08:53:38 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Alphabet Soup: Tax Guidelines In Choice Of Entity Decisions]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=338</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=338</link>
			<description><![CDATA[In 1997, the U.S. Treasury Department greatly simplified the rules
associated with the tax treatment of non-corporate entities by issuing the
&ldquo;check-the-box&rdquo; regulations. While the name of these
regulations suggests a simple decision process, the actual decision of
which type of entity to select for a particular business is actually
fraught with highly technical and complex issues that can significantly
impact a business. A comprehensive discussion of the tax issues involved
in such a decision are well beyond the scope of this article;
nevertheless, certain guideposts are discussed herein that will serve as
valuable guidance for business owners. ]]></description>
			<pubDate>Thu, 17 Jan 2008 08:53:07 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[The LLC Ode: Creative Planning with LLCs]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=371</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=371</link>
			<description><![CDATA[From the time limited liability companies (&ldquo;LLCs&rdquo;) came into prominence, practitioners have been lauding and working to maximize their wonderful benefits.&nbsp;&nbsp;What follows is a summary of some of the great asset protection, business flexibility and tax advantages of LLCs, and their creative uses.]]></description>
			<pubDate>Tue, 15 Jan 2008 14:10:07 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[The CPA vs. The Cost Segregation Study]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=339</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=339</link>
			<description><![CDATA[Cost segregation studies separate personal property and land improvements
that depreciate in five and 15 years from real property that depreciates,
in the case of residential rental property, in 27.5 years. Seeking out
faster write-offs through cost segregation results in greater cash flow,
since the payment of federal and state income taxes is deferred. Cost
segregation studies also let taxpayers write off obsolete components and
can even lower local realty-transfer taxes.]]></description>
			<pubDate>Tue, 15 Jan 2008 13:44:38 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Arguments and Claims Used by Promoters of Abusive Tax Shelters]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=370</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=370</link>
			<description><![CDATA[Promoters of abusive trust tax shelters use myriad arguments to hook their targets. All of these arguments are frivolous.&nbsp; Frivolous arguments are false arguments that are not supported by law. Most often the promoters rely on the socalled common law or constitutional law upon which they frame their frivolous arguments.]]></description>
			<pubDate>Tue, 15 Jan 2008 13:44:10 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Get More Out of Your Itellectual Property (Without Losing It)]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=367</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=367</link>
			<description><![CDATA[For many modern companies, their formulas, processes, techniques and custom software are among their most valuable assets.&nbsp; This &ldquo;intellectual property&rdquo; (IP) is the foundation of many companies&rsquo; profitability.]]></description>
			<pubDate>Fri, 11 Jan 2008 12:31:06 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Converting S Corporations to LLCs]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=366</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=366</link>
			<description><![CDATA[Why convert? - It is easy to grasp why one would want to convert a C corporation into an LLC.&nbsp; The ugly double tax.&nbsp; With an S corporation there is no double tax, so why convert?&nbsp; There are a couple considerations.]]></description>
			<pubDate>Tue, 08 Jan 2008 07:45:13 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Mortgage Forgiveness Debt Relief Act of 2007]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=365</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=365</link>
			<description><![CDATA[On December 18, 2007, the House of Representatives approved a bill passed by the Senate entitled &quot;Mortgage Forgiveness Debt Relief Act of 2007,&quot; clearing it for the President's signature. On December 20, 2007, the President signed this legislation.]]></description>
			<pubDate>Mon, 07 Jan 2008 09:35:11 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[How the Family Estate Trust is Promoted]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=364</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=364</link>
			<description><![CDATA[Today family estate trusts own highly appreciated farm/ranch land, other closely-held business assets, and countless other assets of the estate owners who created them.&nbsp; Family estate trusts seem to be promoted in mainly rural and agricultural areas. The primary targets of the promoters are wealthy individuals...]]></description>
			<pubDate>Fri, 04 Jan 2008 14:30:24 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Recent Rulings Increase Clarity On SOX Whistleblower Law]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=340</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=340</link>
			<description><![CDATA[During the four years since the enactment of the Sarbanes-Oxley Act, judges
have disagreed on almost every key element of the law's whistleblower
protections, including which employers are covered under the law; whether
the law applies overseas; what whistleblower conduct is protected; and
what employer conduct is prohibited. However, recent judicial and
administrative decisions have brought greater clarity to certain issues.]]></description>
			<pubDate>Fri, 04 Jan 2008 10:42:13 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Financial Executives Expect Increased Reporting Pressures & Costs Owing To New Accounting And Tax Rules In 2006]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=341</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=341</link>
			<description><![CDATA[Public and private companies of all sizes expect to face a heavier burden
in reporting their tax liabilities, both to the IRS and to their
shareholders, according to a Grant Thornton LLP survey of senior financial
executives. Significant changes aimed at increasing transparency and
disclosure are seen by these executives as being at the heart of that
increased burden.]]></description>
			<pubDate>Fri, 04 Jan 2008 10:41:51 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[ Fifth Circuit Court Decision on Intermediate Sanctions Issued in Favor of Taxpayer]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=342</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=342</link>
			<description><![CDATA[In a closely followed case, the U.S. Court of Appeals for the Fifth Circuit
recently provided important guidance on application of intermediate
sanctions on tax exempt organizations and the use of third party
appraisals when engaging in transactions with insiders. In Sta-Home
Health Agency, et al. v. Commissioner, Case No. 02-60912 (5th Cir.),
issued July 11, 2006, the appellate court reversed the earlier Tax Court
decision and held entirely in favor of the taxpayer.]]></description>
			<pubDate>Fri, 04 Jan 2008 10:41:34 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Truly Self Directed Retirement Plans]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=344</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=344</link>
			<description><![CDATA[Over the history of tax advantaged programs, qualified plans and individual
retirement accounts have consistently been at the forefront of
opportunities to defer tax. Within this context, self directed investment
opportunities have not received the attention that standard IRA and
Qualified Plan investments, such as stock, bonds, mutual funds and
certificates of deposit, have had.  Although non-standard investments in
tax deferred accounts are relatively small as a proportion of overall US
investments, such investments may be a significant part of anyone&rsquo;s
diversified portfolio.]]></description>
			<pubDate>Fri, 04 Jan 2008 10:39:58 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Financial Institutions May Be At Risk If Participating In Patented Tax Reduction Techniques]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=343</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=343</link>
			<description><![CDATA[Financial institutions now face a new risk -- patent infringement for 
suggesting or participating in a tax reduction strategy.Since a federal
appeals court ruled in 1998 that business methods can be  patented, the U.
S. Patent and Trademark Office has granted 48 patents  classified as tax
methods, techniques and strategies and 81 patent applications  are
pending. In response to this development, the House Ways and Means 
Subcommittee on Select Revenue Measures held a hearing on July 13, 2006 on
 issues relating to the patenting of tax advice.]]></description>
			<pubDate>Fri, 04 Jan 2008 10:39:18 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Understanding Tax-Free Real Estate Exchanges]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=347</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=347</link>
			<description><![CDATA[Tax-free real estate exchanges are important tools
for
investors looking to sell a property, and reinvest in other real estate.
The advantage of exchanges is that they allow taxpayers to sell income,
investment or business property and replace it with like-kind property
without having to pay Federal income taxes on the transaction. The
transaction must be a true exchange; the sale of property and subsequent
purchase of a replacement property is not legal.]]></description>
			<pubDate>Thu, 03 Jan 2008 14:15:20 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Tax Issues Arising Out of Stock Options Back-Dating Investigations]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=345</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=345</link>
			<description><![CDATA[As the news reports of back-dating of stock options continue unabated,
companies who may be facing this problem should be aware of several
potential Federal income tax issues.  There are three main areas of
concern:  (i) violations of Section 409A of the Internal Revenue Code (the
&ldquo;Code&rdquo;), (ii) failure for such options to qualify under the
rules governing incentive stock options (ISOs), and (iii) exceeding the
compensation deduction limits of Code Section 162(m).]]></description>
			<pubDate>Thu, 03 Jan 2008 14:14:37 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Like Kind Exchanges:  Capital Gains versus Ordinary Income]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=346</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=346</link>
			<description><![CDATA[When clients engage in a Section 1031 exchange, they often can defer
capital gain taxes on the sale of investment real estate at a rate of 15%
(federal tax) plus state tax.  If the client has depreciation on the
property sold, then the client&rsquo;s tax rates are higher based on the
type and amount of depreciation taken.  One recent planning technique,
which is causing commotion in real estate circles is the use of a
self-directed IRA or self-directed Roth IRA to hold real estate properties
in an attempt to defer taxes on the sale of the investment property.]]></description>
			<pubDate>Thu, 03 Jan 2008 14:12:56 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Transfers to FLP Included in Decedent's Gross Estate for Estate Tax Purposes]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=348</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=348</link>
			<description><![CDATA[In Estate of Rosen v. Commissioner, T.C. Memo. 2006-115 (6/1/06),
the Tax  Court concluded that property transferred by a decedent&rsquo;s
revocable trust to a  family limited partnership (&ldquo;FLP&rdquo;) was
includible in the decedent&rsquo;s gross estate  under Sec. 2036(a)(1). In
general, Sec. 2036(a)(1) includes in a decedent&rsquo;s  gross estate for
estate tax purposes the value of transfers made by a decedent  during his
or her lifetime when the decedent has retained certain rights with  regard
to the possession of, enjoyment of or income from the transferred 
property.]]></description>
			<pubDate>Thu, 03 Jan 2008 14:10:14 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[IRS Issues Private Letter Rulings on REIT Income Tests and Limitation on Compensation Deductions]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=349</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=349</link>
			<description><![CDATA[The IRS recently released two private letter rulings relating to real
estate investment trusts.  One private letter ruling rules that taxable
income earned from certain refundable state tax credits will be
disregarded in applying the income tests for REIT qualification, and the
other clarifies the application of the deduction limitation of Section
162(m) of the Internal Revenue Code to compensation paid for services
performed for the operating partnership of a publicly-held REIT.   ]]></description>
			<pubDate>Thu, 03 Jan 2008 14:09:21 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Roth 401(K) Offers Another Retirement Savings Vehicle]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=350</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=350</link>
			<description><![CDATA[Up until now, individuals saving for retirement could either contribute
pre-tax dollars to an IRA or after-tax dollars to a Roth IRA.  But now
they have a third choice.  Author Jaime Schiavone explains how employers
can incorporate features of the Roth IRA into their 401(k) or 403(b)
plans.  ]]></description>
			<pubDate>Thu, 03 Jan 2008 14:08:31 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Tax Control Issues]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=351</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=351</link>
			<description><![CDATA[One of the most resounding messages heard regarding the implementation of
Sarbanes-Oxley Section 404 is that accounting for income taxes is not an
easy task. In fact, for some of the country&rsquo;s largest publicly
traded corporations, accurately accounting for income taxes has proved to
be quite difficult. This review also provides all companies, both public
and private, with valuable lessons for improving corporate tax department
policies and procedures. ]]></description>
			<pubDate>Thu, 03 Jan 2008 14:08:11 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Hot Issues in 1031 Exchanges]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=352</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=352</link>
			<description><![CDATA[Many Section 1031 exchanges involve issues for which the IRS has provided
little or no guidance. The planning and execution of exchanges that will
withstand IRS scrutiny requires practical solutions. Knowledge of these
&quot;cutting-edge&quot; solutions is critical.]]></description>
			<pubDate>Thu, 03 Jan 2008 14:08:01 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[The Third Wave--The Tsunami Effect of Sarbanes-Oxley]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=353</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=353</link>
			<description><![CDATA[The &ldquo;third wave&rdquo; of SOX compliance is just now beginning to
gain visibility as regulated companies begin to extend their internal
compliance requirements, by contract, to their non-regulated trading
partners. Such extensions, especially with the increase in out-sourcing of
core functions by SOX-regulated companies, essentially capture a huge
volume of trading partners (both in the U.S. and internationally) within
the SOX regulatory environment. ]]></description>
			<pubDate>Thu, 03 Jan 2008 14:07:50 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Expense Account Fraud Can Cost More Than You Think]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=354</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=354</link>
			<description><![CDATA[It probably seems like a relatively minor infraction to many employees:
Write off the dry cleaning bill for a blouse stained during a business
trip by adding the cost to the expense account. And, in truth, one small
dry cleaning tab might not be such a big deal &ndash; if it stopped there.
Too often, however, padding the expense account turns into a cottage
industry for employees, an industry for which you may be footing a
significant bill.]]></description>
			<pubDate>Fri, 28 Dec 2007 11:29:24 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Year End Tax Planning Tips]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=319</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=319</link>
			<description><![CDATA[1. Accelerate deductions and defer income. Generally, it
is advantageous to accelerate deductions into the current year by
prepaying some of next year&rsquo;s deductible expenses and to defer
income where possible until next year. This can work particularly well if
you are self-employed or have some degree of control over when you get
paid. This planning, however, requires consideration of the alternative
minimum tax.&nbsp;Some deductions (e.g., state and local income taxes,
real estate taxes), which may be deductible for regular tax purposes, may
not be deductible for AMT purposes.]]></description>
			<pubDate>Fri, 28 Dec 2007 11:28:25 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Individual And Family Wealth Planning]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=324</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=324</link>
			<description><![CDATA[In general, Sec. 1015 provides that the adjusted basis of property that is
included in a decedent&rsquo;s gross estate for estate tax purposes is the
fair market value (&ldquo;FMV&rdquo;) of such property at the
decedent&rsquo;s date of death. Thus, regardless of the adjusted basis a
decedent may have had in property prior to his or her death, Sec. 1015
allows the heir of such property to use its FMV at the decedent&rsquo;s
date of death to measure the gain or loss the heir must recognize on the
subsequent sale of such property. In Janis v. Commissioner, Docket No.
04-4443-ag (2d Cir., Nov. 15, 2006), the Second Circuit considers what is
&ldquo;FMV&rdquo; for purposes of Sec. 1015.]]></description>
			<pubDate>Fri, 28 Dec 2007 11:28:09 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[IRS Issues Private Letter Rulings on REIT Income Tests and Limitation on Compensation Deductions]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=356</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=356</link>
			<description><![CDATA[The IRS recently released two private letter rulings relating to real
estate investment trusts (&ldquo;REITs&rdquo;).  One private letter ruling
rules that taxable income earned from certain refundable state tax credits
will be disregarded in applying the income tests for REIT qualification,
and the other clarifies the application of the deduction limitation of
Section 162(m) of the Internal Revenue Code to compensation paid for
services performed for the operating partnership of a publicly-held
REIT.]]></description>
			<pubDate>Fri, 28 Dec 2007 11:27:49 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Recognizing retirement reality]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=355</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=355</link>
			<description><![CDATA[On March 31, 2006, the FASB issued an Exposure Draft of a proposed
Statement, Employers&rsquo; Accounting for Defined Benefit Pension and
Other Postretirement Plans &ndash; an amendment of FASB Statements No. 87,
88, 106, and 132(R), in connection with the first phase of its
project to reconsider the current accounting guidance for defined benefit
postretirement plans. The provisions of the proposed Statement would apply
to entities (including not-for-profit organizations) that sponsor one or
more defined benefit postretirement plans. ]]></description>
			<pubDate>Fri, 28 Dec 2007 11:27:36 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Accounting for uncertain tax positions]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=357</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=357</link>
			<description><![CDATA[In July 2005, the Financial Accounting Standards Board (FASB) issued an
Exposure Draft of proposed Interpretation, Accounting for Uncertain
Tax Positions &ndash; an Interpretation of FASB Statement No. 109.
The proposed Interpretation would clarify Statement 109,
Accounting for Income Taxes, to indicate the criteria that would
have to be met for a tax benefit to be recognized in an enterprise&rsquo;s
financial statements. The proposed Interpretation raised concerns among
financial statement preparers because the probable threshold that
would be required before a tax position could be recognized would
negatively impact the financial statements of many companies. ]]></description>
			<pubDate>Fri, 28 Dec 2007 11:27:01 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[FAS 123(R) and SAB 107 Disclosure Checklist]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=358</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=358</link>
			<description><![CDATA[As companies move toward the required adoption of Financial Accounting
Standard 123(R) (FAS 123(R)), early thought should be given to disclosures
to be made in the Form 10-K immediately preceding the adoption of FAS
123(R) and in the first Form 10-Q following adoption.]]></description>
			<pubDate>Fri, 28 Dec 2007 11:26:37 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[The Tax Relief and Health Care Act of 2006]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=307</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=307</link>
			<description><![CDATA[On December 9, 2006, Congress passed the Tax Relief and Health Care Act of
2006, which was signed into law by the President on December 20, 2006. The
Act provides for extensions and modifications of certain previously or
soon to be expired tax relief provisions, extensions of certain expiring
energy provisions, health savings account provisions and other general tax
relief provisions. Perhaps more importantly, the Act provides a level of
certainty that taxpayers have not had since the provisions started to
expire in 2005. ]]></description>
			<pubDate>Fri, 28 Dec 2007 11:26:13 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Understanding Tax-Free Real Estate Exchanges]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=309</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=309</link>
			<description><![CDATA[Tax-free real estate exchanges are important tools for investors looking to
sell a property, and reinvest in other real estate. The advantage of
exchanges is that they allow taxpayers to sell income, investment or
business property and replace it with like-kind property without having to
pay Federal income taxes on the transaction. The transaction must be a
true exchange; the sale of property and subsequent purchase of a
replacement property is not legal.]]></description>
			<pubDate>Thu, 20 Dec 2007 08:49:10 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[ALP: I keep hearing about Sarbanes-Oxley in relation to software and don't understand the connection. Isn't Sarbanes-Oxley related to financial disclosure and fiscal reporting?]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=311</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=311</link>
			<description><![CDATA[Early in my career, I realized that a securities law practice was not for
me.&nbsp;&nbsp;I struggled with the zillion page disclosure documents that
seemed to be all boilerplate.&nbsp; The only thing to keep you awake was
the fear of going to jail if you did not adequately disclose certain facts
about a company.&nbsp; Therefore I pursued other areas of corporate
practice that now include negotiating software and systems related
agreements for businesses and providers.&nbsp;&nbsp;I have been all but
oblivious to the Sarbanes - Oxley furor that has been occupying the hearts
and minds of securities lawyers for the last four years.&nbsp; However, my
period of bliss was destined to end.&nbsp;]]></description>
			<pubDate>Thu, 20 Dec 2007 08:48:36 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Exchanges Involving Real Estate Options or Contracts]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=359</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=359</link>
			<description><![CDATA[It has become popular for taxpayers who have highly appreciated options or contracts to buy real estate and consider executing a 1031 exchange. This consideration presents several different challenges. Is this type of property qualified property for 1031 exchanges? If so, is this type of interest considered like-kind with taking title to real estate?]]></description>
			<pubDate>Thu, 20 Dec 2007 08:47:56 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Recent Private Letter Ruling Addresses Deductibility of Settlement and Litigation Costs Resulting from Corporate Acquisition]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=312</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=312</link>
			<description><![CDATA[A recent Private Letter Ruling demonstrates how the IRS will analyze
taxpayers&rsquo; deductions of litigation and settlement costs originating
in financial improprieties that are concurrent with a business
acquisition. Generally, taxpayers must capitalize legal fees and
litigation settlement amounts that facilitate or arise in business
acquisitions. In contrast, taxpayers may currently deduct legal fees and
litigation settlement amounts if the taxpayers perform the acts giving
rise to the litigation in the ordinary and necessary conduct of their
business. ]]></description>
			<pubDate>Wed, 19 Dec 2007 11:06:44 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Protecting Communications in Today's Tax and Financial Enforcement Environment]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=310</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=310</link>
			<description><![CDATA[Protecting against inadvertent and unintended disclosure of sensitive
documents has long been an issue faced by in-house corporate counsel. With
the advent of FIN 48, protecting sensitive tax materials takes on critical
importance. ]]></description>
			<pubDate>Wed, 19 Dec 2007 11:06:36 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[SEC Amends Best-Price Rule to Exempt Compensatory Arrangements]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=313</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=313</link>
			<description><![CDATA[On November 1, 2006, the SEC issued Release No.
34-54684&nbsp;in which the staff amended the tender offer best-price
rule to exempt &quot;employment compensation, severance, or other
employment benefit arrangements&quot; from the scope of the rule.&nbsp;
The new amendments are intended to permit bidders to negotiate and enter
into service-based, compensatory arrangements with security holders of a
subject company without running afoul of the best-price rule.&nbsp; The
new amendments also provide a non-exclusive safe harbor for such
arrangements if approved by an independent committee of the board of
directors of either the subject company or the bidder, if the bidder is
party to the arrangement.]]></description>
			<pubDate>Wed, 19 Dec 2007 11:05:26 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[The Family Estate Trust in Perspective]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=360</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=360</link>
			<description><![CDATA[The family estate trust is one of eight abusive trust arrangements identified by the Internal Revenue Service (IRS; the Service). Not all family trusts, such as the revocable or irrevocable living trust, the credit shelter trust or by-pass trust, commonly used in estate planning are alike. With respect to estate planning, the family estate trust is perhaps one of the most egregious and troubling.]]></description>
			<pubDate>Tue, 18 Dec 2007 13:04:50 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[All Good Things Must Come to an End - Section 409A Tax Reporting and Withholding Requirements Are Now Effective]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=314</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=314</link>
			<description><![CDATA[After an almost two-year delay, the IRS has now indicated that the tax
reporting and withholding requirements imposed by Section 409A of the
Internal Revenue Code of 1986, as amended (the &ldquo;Code&rdquo;), are
effective immediately with respect to deferred amounts that became
includible in income in 2005 or 2006. In Notice 2006-100, the IRS has not
only rescinded the reporting and withholding moratorium granted by Notice
2005-94, it has also provided useful guidance for both employers and
taxpayers regarding their new compliance responsibilities.[1]
Notice 2006-100 will not be the final word on reporting and withholding
from the IRS but is instead intended to serve as interim guidance as we
enter the 2006 tax reporting season.]]></description>
			<pubDate>Tue, 18 Dec 2007 09:38:44 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[IRS Extends Section 409A Compliance Deadline to December 31,2008]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=301</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=301</link>
			<description><![CDATA[In Notice 200786 issued on October 22 by the IRS, and already
enthusiastically applauded by employers, plan administrators, and
advisors, the IRS has fully extended&mdash;from December 31, 2007 to
December 31, 2008&mdash;the compliance due date under Section 409A of the
Internal Revenue Code of 1986, as amended (Section 409A). In most material
respects, Notice 200786 supersedes recently issued Notice 200778, which had
provided an extension only for documentary compliance.]]></description>
			<pubDate>Mon, 17 Dec 2007 09:54:53 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Insider Trading Compliance]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=318</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=318</link>
			<description><![CDATA[Corporations need to improve their corporate governance structures, especially their insider trading prevention and oversight policies.&nbsp; Insider trading compliance rules should be in place to prevent senior officers and directors from buying or selling without prior approval of a committee made up of only independent board members.&nbsp;]]></description>
			<pubDate>Fri, 14 Dec 2007 11:33:57 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[United States District Court's Decision Could Pave the Way to Thwart a Taxing Authority's Request to Produce FIN 48 Workpapers]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=302</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=302</link>
			<description><![CDATA[On August 28, 2007, in U.S. v. Textron Inc.,1 the
United States District Court for the District of Rhode Island denied an
IRS petition for enforcement of a summons requesting a taxpayer&rsquo;s
tax accrual workpapers because the workpapers were protected by the
attorney work product privilege (also commonly referred to as the
&ldquo;work product doctrine&rdquo;). The federal district court held that
the taxpayer waived the otherwise applicable attorney&ndash;client and tax
practitioner&ndash;client privileges when it provided the workpapers to
its independent auditors for examination as part of their audit. As
discussed below, Textron highlights the significant advantages that may be
obtained by utilizing legal counsel to assist in the preparation of tax
accrual workpapers.]]></description>
			<pubDate>Thu, 13 Dec 2007 16:38:27 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Section 199:  Real Estate Developers, Stake Your Claim]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=304</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=304</link>
			<description><![CDATA[There&rsquo;s been a lot of buzz in recent years about Internal Revenue
Code Section 199, the Domestic Production Activities Deduction. Thousands
of taxpayers have realized significant benefits with the deduction, from
business owners in the construction industry to those with businesses
ranging from manufacturing to filmmaking.]]></description>
			<pubDate>Mon, 10 Dec 2007 12:36:56 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Is It Time to Review Your Estate Plan?]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=284</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=284</link>
			<description><![CDATA[We would like to urge our clients and friends to consider revisiting your
existing estate plans to ensure that your plan: (i) meets your current
family objectives, (ii) conforms to ever-changing federal and state estate
tax rules, and (iii) is being properly implemented. Here are ten questions
that may help you determine if your current plan needs to be reviewed:]]></description>
			<pubDate>Thu, 06 Dec 2007 14:43:40 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Updating Your Buy-Sell Agreement]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=287</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=287</link>
			<description><![CDATA[During the formation of a closely held business, such as a Corporation,
Partnership or Limited Liability Company, attorneys frequently prepare
Buy-Sell Agreements for their clients. A Buy-Sell Agreement (also know as
a Shareholders Agreement, Limited Partnership Agreement, Limited Liability
Company Operating Agreement) is a contract among the owners that addresses
numerous issues relating to the business entity such as operations,
management, voting rights, transfer of ownership, purchase price/valuation
of the business, buyout payment terms as well as what occurs upon the
dissolution of the business entity. In the absence of a Buy-Sell
Agreement, these issues are governed by the laws of the state where the
business entity was created or, if necessary, by a judicial proceeding. ]]></description>
			<pubDate>Thu, 06 Dec 2007 14:43:33 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Legal Alert: IRS Publishes PPA Distribution Guidance]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=308</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=308</link>
			<description><![CDATA[On January 2, 2007, the IRS published Notice 2007-7 (the
&ldquo;Notice&rdquo;), containing an assortment of guidance items related
to distribution provisions in the Pension Protection Act of 2006
(&ldquo;PPA&rdquo;) (P.L. 109-280).]]></description>
			<pubDate>Mon, 03 Dec 2007 15:23:29 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[IRA's Qualified Retirement Plans and Medicaid Planning]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=315</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=315</link>
			<description><![CDATA[As you have no doubt learned by now, Medicaid planning (i.e., qualifying for eligibility) and protecting retirement assets are goals that often conflict.&nbsp; The first goal is to obtain financial assistance for necessary health care, while the second goal is to accumulate and protect wealth intended for retirement spending or to benefit heirs. When considering Medicaid planning and preservation of retirement assets, counsel must familiarize itself with the several different series of applicable regulations and statutes that address and govern both goals.]]></description>
			<pubDate>Fri, 30 Nov 2007 13:58:20 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Chinese Tax Legislation to Unify Domestic and Foreign Corporate Tax]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=305</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=305</link>
			<description><![CDATA[After many years of discussion, the National People&rsquo;s Congress
finally approved the unification of China&rsquo;s corporate income tax
system earlier this year. The new tax law (which will take effect January
1, 2008) calls for increasing the marginal income tax rate for foreign
corporations from 15% or 24% (depending on the type of company) to 25%.]]></description>
			<pubDate>Thu, 29 Nov 2007 15:25:26 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Abusive Domestic Trust Tax Shelter Arrangements]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=306</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=306</link>
			<description><![CDATA[An abusive trust arrangement may involve some or all of the trusts described below. The type of trust arrangement selected is dependent on the particular tax benefit the arrangement purports to achieve. In each of the trusts described below, the original owner of the assets that are nominally subject to the trust effectively retains authority to cause the financial benefits of the trust to be directly or indirectly returned or made available to the owner.]]></description>
			<pubDate>Tue, 27 Nov 2007 13:48:33 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Business Outlook for Fall 2007: Look Out for Revenue Offsets]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=303</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=303</link>
			<description><![CDATA[For most business taxpayers, tax legislation during the remainder of 2007
will not be about new benefits and incentives. Rather,
businesses&rsquo; attention will be focused on those revenue raisers
&mdash; provisions that offset the cost of those benefits and incentives
already under consideration or set to expire soon.]]></description>
			<pubDate>Mon, 26 Nov 2007 17:01:19 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Stock-based Compensation - Nonpublic Company Adoption of Statement 123R]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=282</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=282</link>
			<description><![CDATA[Many public companies have been reporting compensation expense under the requirements of Statement 123R, Share-Based Payment, for almost a year. However, nonpublic companies that issue only annual financial statements may just now be addressing the requirements of the new pronouncement. For nonpublic entities, the Statement is effective at the beginning of the first annual period that begins after December 15, 2005. Accordingly, a calendar year nonpublic entity would have to apply Statement 123R in its 2006 financial statements.]]></description>
			<pubDate>Mon, 19 Nov 2007 08:04:38 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Scope of Abusive Trust Tax Shelter Schemes]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=300</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=300</link>
			<description><![CDATA[Abusive tax avoidance schemes could threaten our tax system&rsquo;s integrity and fairness, if honest taxpayers believe that significant numbers of individuals are not paying their fair share of taxes.The GAO reports that abusive tax schemes encompass such distortions of the tax system as falsely describing the law (saying, for example, that the income tax is unconstitutional), misrepresenting facts (for instance, promoting thededuction for personal expenses as business expenses) or using trusts or offshore bank accounts to hide income.]]></description>
			<pubDate>Fri, 16 Nov 2007 09:38:08 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[IRS Announces Good Governance Practices for Exempt Organizations]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=283</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=283</link>
			<description><![CDATA[The Internal Revenue Service recently announced a number of governance
practices it considers important for exempt organizations in carrying out
their exempt purpose. Although the Service has no authority at this point
to impose these practices on exempt organizations, it is clear that the
Service will consider these in evaluating whether an organization is
fulfilling its charitable purpose. Many of the recommendations are already
being used by many exempt organizations, although there are some
recommendations that suggest the Service is focusing on new areas of
governance, such as codes of ethics and whistleblower policies.]]></description>
			<pubDate>Wed, 14 Nov 2007 17:08:11 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[A Step by Step Guide to Selling Your Business]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=289</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=289</link>
			<description><![CDATA[Selling a business tends to be a surprisingly difficult and even emotional experience for most owners.&nbsp; However, the process becomes much easier when the seller knows what to expect.&nbsp; A good corporate attorney can uncover the mystery of selling a business by walking the owner through every phase of the sale.Before the business ever reaches the selling block, there are many things the corporate attorney and other advisors can do to enhance the value of the business, shorten the due diligence phase and hopefully simplify the entire process.]]></description>
			<pubDate>Fri, 09 Nov 2007 09:32:35 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[IRS Continues Focus on the Governance Practices of Charities and Requests Comments on Donor-Advised Funds and Supporting Organizations]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=285</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=285</link>
			<description><![CDATA[The IRS has joined the public debate regarding the specific governance
practices of charitable organizations with the release on February 2, 2007
of its paper titled &ldquo;Good Governance Practices For 501(c)(3)
Organizations.&rdquo; The guidelines, which were distributed by Marvin
Friedlander, Manager, Exempt Organizations Technical Branch, IRS National
Office, focus on nine areas designed to help ensure that directors of
charitable organizations understand their roles and responsibilities and
actively promote good governance practices.]]></description>
			<pubDate>Tue, 06 Nov 2007 15:22:01 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[FIN 48 Effective Date Not Deferred]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=286</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=286</link>
			<description><![CDATA[The Financial Accounting Standards Board (&quot;FASB&quot;)&nbsp; met January 17, 2007 and voted not to defer the effective date of FASB Financial Interpretation No. 48, Accounting for Uncertainty in Tax Positions (&quot;FIN 48&quot;).]]></description>
			<pubDate>Tue, 06 Nov 2007 15:21:55 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Your Legacy is About Much More Than Money]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=281</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=281</link>
			<description><![CDATA[As it stands today, any assets you want to leave at death will be taxed by the government.&nbsp; Although it&rsquo;s likely the estate tax will be changed or eliminated in the near future, your &ldquo;people planning&rdquo; issues remain very important.If the estate tax is changed as we expect, many people could conclude that they don&rsquo;t need an &ldquo;estate plan.&rdquo;&nbsp; The following will help you understand that an estate plan (or, more accurately, a legacy plan) is about more than just money; it&rsquo;s about taking control of your future.]]></description>
			<pubDate>Thu, 01 Nov 2007 12:41:23 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[IRS Revives Long-Dormant Cafeteria Plan Rules With New Proposed Regulations]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=280</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=280</link>
			<description><![CDATA[The Internal Revenue Service recently withdrew numerous old proposed cafeteria plan regulations and guidance, some of which dated all the way back to 1984, and issued five new proposed regulations that update and expand the rules that govern the design, operation and nondiscrimination rules applicable to cafeteria plans under Internal Revenue Code section 125. The reproposed regulations are expected to apply to plan years beginning on or after January 1, 2009, but can be relied on in the interim.]]></description>
			<pubDate>Mon, 22 Oct 2007 17:12:26 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Relief from Joint and Several Liability on Joint Returns]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=279</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=279</link>
			<description><![CDATA[When a joint tax return is filed, both taxpayers are jointly and
individually liable for the tax and any interest or penalty due on the
return even if they later divorce. This is true even if a divorce decree
states that a former spouse will be responsible for any amounts due on a
previously filed joint return. One spouse may be held responsible for
payment of all tax due even if all of the income was earned by the other
spouse.]]></description>
			<pubDate>Thu, 18 Oct 2007 12:17:11 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[IRS Issues Additional (But Limited) Transition Relief Under 409A]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=273</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=273</link>
			<description><![CDATA[On September 10, 2007, the IRS issued Notice 2007-78, which permits
taxpayers to bring nonqualified deferred compensation plans into
documentary compliance with Section 409A of the Internal Revenue Code and
the final regulations issued thereunder.]]></description>
			<pubDate>Wed, 17 Oct 2007 14:58:30 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Private Inurement Trumps Tax Exemption]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=272</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=272</link>
			<description><![CDATA[The IRS published a private determination revoking the exemption of a
private grant-making foundation under Internal Revenue Code
(&ldquo;Code&rdquo;) section 501(c)(3). The determination is a good
example of how the private use of an organization&rsquo;s assets can
defeat its entitlement to the significant benefits of tax exemption.]]></description>
			<pubDate>Tue, 02 Oct 2007 12:42:46 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Just Cause Considerations]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=271</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=271</link>
			<description><![CDATA[Just cause for discipline is a requirement in most union-management
agreements and civil service laws.&nbsp;However, few, if any, agreements
or laws governing employment define the concept or explain what an
employer must show to justify meting out any given level of discipline. As
a result, definitions have varied and been left to the interpretation of
arbitrators and courts.]]></description>
			<pubDate>Sun, 30 Sep 2007 12:50:16 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[CA Supreme Court Issues Three Key Decisions]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=270</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=270</link>
			<description><![CDATA[California employers should be aware of three decisions in the last week
that will impact the way they do business.Gentry v.
Superior CourtPrachasaisoradej v. Ralphs
Grocery Company, Inc.Green v. State of
California]]></description>
			<pubDate>Sun, 30 Sep 2007 12:50:07 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Did You Know?  State Minimum Wage Changes Coming Jan. 1, 2008]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=269</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=269</link>
			<description><![CDATA[10 states have already announced that they will have major changes in
their state poster requirements effective Jan. 1, 2008.New Mexico
has a new minimum wage as of Jan. 1, 2008, and the minimum wage will be
adjusted for inflation every January 1 in...]]></description>
			<pubDate>Sun, 30 Sep 2007 12:49:45 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[New GAAP Accounting Rules for Income Taxes]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=268</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=268</link>
			<description><![CDATA[Enterprises that issue financial statements based on generally accepted
accounting principals (GAAP), must implement new accounting rules for
uncertain tax positions, especially those taxed as a C corporation.?
Pass-through and not-for-profit enterprises also are subject to the new
rules and could be affected in some circumstances.]]></description>
			<pubDate>Mon, 24 Sep 2007 11:50:56 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Protecting Communications in Today's Tax and Financial Enforcement Environment]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=267</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=267</link>
			<description><![CDATA[Protecting against inadvertent and unintended disclosure of sensitive
documents has long been an issue faced by in-house corporate counsel. With
the advent of FIN 48, protecting sensitive tax materials takes on critical
importance.]]></description>
			<pubDate>Fri, 21 Sep 2007 10:38:03 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Like Kind Exchange Planning is Actually Capital Gain Tax Planning]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=266</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=266</link>
			<description><![CDATA[While most individuals can correctly identify 15% as the rate for capital
gains on appreciated property, most cannot properly identify the 8 other
tax rates associated with the sale of capital assets, including 25% and
35% for depreciable investment real estate properties.]]></description>
			<pubDate>Thu, 20 Sep 2007 08:41:40 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Proposed Treasury Regulations Would Limit Shareholders' Use of Open Account Debts to Absorb S Corporation Losses]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=264</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=264</link>
			<description><![CDATA[The IRS proposed regulations on April 11, 2007, that would limit the use of
&ldquo;open account debt&rdquo; to pass through S corporation losses to
shareholders. The proposed regulations under Section 1367 of the Internal
Revenue Code address an IRS concern that S corporation shareholders are
manipulating their tax bases in so-called &ldquo;open account debts&rdquo;
(loans by shareholders to the S corporation that are not evidenced by
separate written instruments) to defer taxable income.]]></description>
			<pubDate>Wed, 19 Sep 2007 15:53:09 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Highlights From the New Franchise Rule]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=265</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=265</link>
			<description><![CDATA[On January 22, 2007, the Federal Trade Commission (the &ldquo;FTC&rdquo;)
announced its adoption of a revised Trade Regulation Rule,
&ldquo;Disclosure Requirements and Prohibitions Concerning
Franchising&rdquo; (the &ldquo;New Rule&rdquo;). The New Rule formally
adopts much of the UFOC Guidelines&rsquo; approach to franchise disclosure
and follows substantially the Notice of Proposed Rulemaking published by
the FTC in 1999, so the franchise community generally should not be
surprised by the revisions in the New Rule. Nonetheless, the New Rule
makes some significant changes to current franchise disclosure
requirements, which may not be commonly known or may require some
additional explanation.]]></description>
			<pubDate>Wed, 19 Sep 2007 15:52:58 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[IRS Issues Proposed Regulations on Administrative Expense Deductions for Estates and Trusts]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=255</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=255</link>
			<description><![CDATA[Responding to a split in circuits of the United States Courts of Appeal,
the IRS has issued proposed regulations (REG-128224-06, 72 Fed. Reg.
41243) providing guidance on which expenses incurred by a trust (or an
estate) are deductible under section 67(e). Section 67(a) allows
individuals to take miscellaneous itemized deductions only if, in the
aggregate, the deductions exceed two percent of their adjusted gross
incomes (AGI).]]></description>
			<pubDate>Wed, 19 Sep 2007 09:22:19 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Code §409A and Hidden Deferred Compensation]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=260</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=260</link>
			<description><![CDATA[By now, you are probably aware that all deferred compensation arrangements must be written to comply with &sect;409A by December 31, 2007. But you might be surprised at the many various arrangements that are considered deferred compensation arrangements requiring compliance with section &sect;409A.]]></description>
			<pubDate>Mon, 17 Sep 2007 10:25:29 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[IRS Audits]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=259</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=259</link>
			<description><![CDATA[Audit. The word strikes fear in the heart of a taxpayer,
and presents a challenge for the tax practitioner called upon to guide the
frightened client through dangerous territory. The more a practitioner
knows about different types of audits and the issues likely to arise, the
better the chance of a positive outcome.]]></description>
			<pubDate>Tue, 11 Sep 2007 11:46:10 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[SEC Proposes Simplified Reporting Requirements for Smaller Companies]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=261</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=261</link>
			<description><![CDATA[On July 5, 2007, the Securities and Exchange Commission proposed rule
amendments regarding disclosure and reporting requirements for smaller
companies under the Securities Act of 1933 and the Securities Exchange Act
of 1934. The proposed amendments would have the effect of extending the
benefits of the current scaled disclosure and reporting requirements for
smaller companies to those companies with a public float of less than $75
million (up from $25 million), while simultaneously simplifying the rules
applicable to these smaller reporting companies.]]></description>
			<pubDate>Thu, 06 Sep 2007 09:55:44 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[States Cracking Down on Employer Misclassification of Independent Contractors]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=256</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=256</link>
			<description><![CDATA[For the past several years, a number of federal agencies, notably the
Internal Revenue Service, the National Labor Relations Board and the Equal
Employment Opportunity Commission have targeted employers that misclassify
workers as independent contractors and thereby avoid the tax or employment
law consequences of a traditional employment relationship.]]></description>
			<pubDate>Tue, 28 Aug 2007 07:24:32 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[IRS Reopens the Door on Tax Credits for 80-20 Projects]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=247</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=247</link>
			<description><![CDATA[That which was lost has now been found. With careful structuring,
low-income housing tax credits under the IRC are once again viable for
developing tax-exempt bond-financed mixed-income apartment projects with
only 20% of the units affordable.]]></description>
			<pubDate>Wed, 08 Aug 2007 11:24:35 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Fraud Management: Programs to Fit Any Budget]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=245</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=245</link>
			<description><![CDATA[The fall of corporate behemoths like Enron and WorldCom demonstrates that
fraud can bring down even the mightiest of corporations. The magnitude of
the problem is staggering.]]></description>
			<pubDate>Mon, 06 Aug 2007 09:16:51 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[SEC Adopts Interpretive Guidance Regarding Management's]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=246</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=246</link>
			<description><![CDATA[On May 23, 2007, the Securities and Exchange Commission (the
&ldquo;SEC&rdquo;) unanimously adopted interpretive guidance (the
&ldquo;Guidance&rdquo;) to assist management when planning for and
performing its annual assessment of internal control over financial
reporting (&ldquo;ICFR&rdquo;) required by Section 404 of the
Sarbanes-Oxley Act of 2002 (&ldquo;SOX&rdquo;). This Guidance is intended
to serve as one way for management to evaluate and assess ICFR, and sets
forth an approach by which management can conduct a &ldquo;top-down,
risk-based&rdquo; evaluation of ICFR.]]></description>
			<pubDate>Mon, 06 Aug 2007 09:16:48 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[IRS Addresses Two Issues in Proposed Regulations Regarding Employers' Contributions to HSAs]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=234</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=234</link>
			<description><![CDATA[In 2006, the IRS issued final regulations regarding employers'
contributions to health savings accounts (see Tax Hot Topics 2006-17). The
IRS has now issued Prop. Reg. Sec. 54.4980G-4, Q&amp;A 14, 15 and 16 to
address two specific issues that were not addressed in the final
regulations.]]></description>
			<pubDate>Fri, 03 Aug 2007 13:26:13 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[IRS Releases Dramatically Redesigned Form 990 for Public Comment]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=233</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=233</link>
			<description><![CDATA[On June 14, the IRS released a substantially revised draft Form 990, Return
for Exempt Organizations, which will likely be the basis for the Form 990
used by organizations beginning with the 2008 tax year (that is, for
returns filed in 2009). The form&rsquo;s revisions reflect the IRS&rsquo;s
continued focus on issues of transparency, governance and the public
accountability of tax-exempt organizations.]]></description>
			<pubDate>Fri, 03 Aug 2007 13:26:10 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Tenancies in Common and Limited Partnerships: Is There a Difference?]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=238</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=238</link>
			<description><![CDATA[While an investment in both a tenant in common transaction and a syndicated
real estate limited partnership provide an investor with an investment in
real estate, the similarities&nbsp;end there.&nbsp;The investor profiles
are as different as the initial investment decision and the exit
strategies. While each type of transaction has its place in one&rsquo;s
overall investment portfolio, the approach will be very different for each
investor.]]></description>
			<pubDate>Fri, 03 Aug 2007 13:26:08 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[The Dual Approach: FASB Proposal on Quantifying the Effects of Misstatements]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=239</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=239</link>
			<description><![CDATA[A recently issued proposed FASB Staff Position (FSP) will change the way
privately held nongovernmental entities, including not-for-profit
organizations, analyze uncorrected financial statement misstatements. This
could result in the correction of misstatements that may not have been
corrected under an entity&rsquo;s prior approach to evaluating financial
statement misstatements.]]></description>
			<pubDate>Fri, 03 Aug 2007 13:26:05 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Third Circuit Affirms: Receipt of Money from Supplier is Income, Not a Loan]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=243</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=243</link>
			<description><![CDATA[In Karns Prime &amp; Fancy Food, Ltd. v. Commissioner (July 20,
2007), the Third Circuit affirmed the Tax Court decision (T.C. Memo
2005-233) holding that a company's receipt of $1.5 million from its
principal supplier was taxable income and not a loan.]]></description>
			<pubDate>Fri, 03 Aug 2007 13:26:03 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Public Charity Reclassification Requests by Supporting Organizations under the Pension Protection Act]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=242</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=242</link>
			<description><![CDATA[The Pension Protection Act of 2006 (the &ldquo;Act&rdquo;) contains special
provisions for individuals who receive Individual Retirement Account
(&ldquo;IRA&rdquo;) distributions in tax years 2006 and/or 2007 and who
have attained age 70&frac12; on the date of the distribution. Those
individuals are able to make contributions from their IRAs directly to
certain qualified public charities without including the
distributed amounts in their reportable income.]]></description>
			<pubDate>Fri, 03 Aug 2007 13:26:02 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[SEC Approves Interpretive Guidance Regarding Management's Evaluation of Internal Controls - Part 2]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=235</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=235</link>
			<description><![CDATA[On May 23, 2007, the Securities and Exchange Commission approved
interpretive guidance to assist management in planning and performing its
annual assessment of internal control over financial reporting required by
Section 404 of the Sarbanes-Oxley Act of 2002. This interpretive guidance
is intended to serve as one way for management to evaluate ICFR, and sets
forth the approach by which management can conduct a top-down risk based
evaluation over ICFR.]]></description>
			<pubDate>Fri, 03 Aug 2007 13:25:58 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[SEC Approves Interpretive Guidance Regarding Management's Ecaluation of Internal Controls - Part 1]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=232</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=232</link>
			<description><![CDATA[On May 23, 2007, the Securities and Exchange Commission (the
&ldquo;SEC&rdquo;) approved interpretive guidance to assist management in
planning and performing its annual assessment of internal control over
financial reporting (&ldquo;ICFR&rdquo;) required by Section 404 of the
Sarbanes-Oxley Act of 2002 (&ldquo;SOX&rdquo;).&nbsp; This interpretive
guidance is intended to serve as one way for management to evaluate ICFR,
and sets forth the approach by which management can conduct a top-down
risk based evaluation over ICFR.]]></description>
			<pubDate>Thu, 21 Jun 2007 09:40:09 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Partnership Profits and Carried Interests: Will They Survive Congressional Scrutiny?]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=231</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=231</link>
			<description><![CDATA[The number of newly formed partnerships and limited liability companies has
increased dramatically in recent years. This is evident with private equity
funds, technology ventures, real estate developers, and others. The
increase results, in part, from the expanded usage of variable equity
interests, such as profits and carried interests, preferred returns,
guaranteed payments, options, warrants, restricted equity grants, and
various catch-up and waterfall allocation and distribution rights. Used
properly, these variable equity interests allow investors and managers to
structure ventures in a highly tax efficient manner.]]></description>
			<pubDate>Thu, 21 Jun 2007 09:40:06 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Electronic Information Systems: The Evolution of Records Retention Policies]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=226</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=226</link>
			<description><![CDATA[Intel's document retention policy demonstrates a shift in records
retention and litigation. In the paper world, destruction of corporate
records usually was accompanied by some evidence of malicious
intent&mdash;like Lieutenant Colonel Oliver North and Arthur Andersen
shredding stacks of documents in apparent attempts to thwart investigation
efforts.]]></description>
			<pubDate>Thu, 21 Jun 2007 09:34:01 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[IRS Issues Interim Guidance on Use of "Negative Additional Section 263A Costs"]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=225</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=225</link>
			<description><![CDATA[The IRS released interim guidance on the use of negative additional Sec.
263A costs. The concept of &ldquo;negative additional 263A costs&rdquo; is
best explained using depreciation as an example.]]></description>
			<pubDate>Thu, 21 Jun 2007 09:33:59 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[IRS Issues Final Section 409A Regulations]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=224</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=224</link>
			<description><![CDATA[On April 10, 2007, the Treasury Department and the Internal Revenue Service
(the IRS) released the final regulations interpreting section 409A of the
Internal Revenue Code (the Code). Section 409A, which was effective
January 1, 2005, has greatly expanded and complicated the tax rules
governing nonqualified deferred compensation plans. The final regulations,
which will be published in the April 17, 2007 federal register, are the
culmination of the interim guidance that has been provided over the past
2&frac12; years, the most important of which include IRS Notice 2005-1 and
the proposed regulations at Prop. Treas. Reg. &sect; 1.409A-1, et seq.]]></description>
			<pubDate>Thu, 21 Jun 2007 09:33:57 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[ Tax and Employment Records: What Must be Kept?]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=155</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=155</link>
			<description><![CDATA[ In general, you must keep records that support items shown on your
individual tax return until the statute of limitations runs out &mdash;
generally three years from the due date of the return, or the date you
filed, whichever is later. In most cases, the IRS can audit your return
for three years. You can also file an amended return on Form 1040X during
this time period if you missed a deduction, overlooked a credit or
misreported your income.]]></description>
			<pubDate>Wed, 26 Apr 2006 13:07:03 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Value of a Will or Estate Plan]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=154</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=154</link>
			<description><![CDATA[A well-drafted Will or estate plan is a small investment that can prevent
enormous heartaches and headaches for your family. When a person dies,
everything he or she owns or controls changes hands. This process can be
smooth and easy, with a minimum of taxes, or it can be emotionally and
legally difficult for everyone involved. A good Will or estate plan can
help avoid heartaches and headaches for surviving family members. ]]></description>
			<pubDate>Wed, 26 Apr 2006 13:05:51 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Ten Estate Planning Techniques to Consider]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=153</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=153</link>
			<description><![CDATA[The possibility of repeal of the federal estate tax creates          
uncertainties regarding how and when to embark upon or alter          
tax-focused estate planning. The 2001 Tax Act increased the estate tax    
      exclusion amount for 2006-2008 to $2,000,000 and          
ultimately raises it to $3,500,000 in 2009. Although the Act purports     
     to abolish the federal estate tax in 2010, true repeal (or permanency
          of increased exclusion amounts and reduced rates) will only
happen if           Congress acts to override the &quot;sunset&quot;
provision that in           2011 automatically reinstates the law as it
was before the Act.]]></description>
			<pubDate>Thu, 30 Mar 2006 14:29:32 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Failure By Tax Division to Follow Mailing Rules Proves Fatal to Collection of Tax]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=151</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=151</link>
			<description><![CDATA[Mr. Justice Holmes stated: &ldquo;Men must turn square corners when they
deal with the Government.  The Court has also recognized &ndash; as it
should &ndash; that &ldquo;&lsquo;It is no less good morals and good law
that the Government should turn square corners in dealing with the people
than that the people should turn square corners in dealing with their
government. Recently, the New York State Tax Appeals Tribunal (the
&ldquo;Tribunal&rdquo;) held the New York State Division of Taxation (the
&ldquo;Division&rdquo;) to that doctrine, finding that a notice mailed to
the wrong address, and not received in sufficient time to file a protest,
was invalid.]]></description>
			<pubDate>Thu, 30 Mar 2006 14:25:17 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Elder Law: Not Just for the Elderly]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=152</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=152</link>
			<description><![CDATA[The aging process presents a variety of legal issues
that are becoming more complex and relevant as the nation's population
becomes more elderly. The &quot;Baby Boomer Generation&quot; is reaching
its golden years and the statistics are startling. In Pennsylvania alone,
the number of people age 75 to 84 has increased more than 20 percent in
the past decade &ndash; and those 85 and older increased by nearly 40
percent in the same period. Twenty years from now over three million
people, or 25 percent of Pennsylvania's population, will be age 60 or
older. These demographics have led forward-thinking law firms and
practitioners to create a new specialty practice area for dealing with the
legal issues of the aging population.]]></description>
			<pubDate>Wed, 29 Mar 2006 16:22:06 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Factors to Review Before Choosing A Qualifed Witness]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=150</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=150</link>
			<description><![CDATA[Federal districts, and many state courts that follow the federal rules,
generally agree on this: Although the methods of financial professionals
are generally not acknowledged as &ldquo;scientific&rdquo; (they are
considered part of the social sciences), they are still subject to the
same standards and rigors put forth in Daubert (Daubert v. Merrell Dow
Pharmaceuticals, Inc. 113 S.Ct. 2786 (1993)).  Historically, the
foundation for experts rested on Frye v. United States (D.C. Cir. 1923)
and that foundation was generally considered both broad and long. However,
in the wake of the Kumho Tire and Daubert decisions, the courtroom doors
have swiftly and loudly closed for any &ldquo;experts.&rdquo;]]></description>
			<pubDate>Mon, 27 Mar 2006 17:35:09 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Records Retention and Destruction - Some Lessons Learned]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=133</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=133</link>
			<description><![CDATA[Most organizations today have some sort of records retention and
destruction (RR&amp;D) program or are considering the development of such
a program. For the purpose of this article consider the following
definition of a record: &ldquo;Records are information created, received
and maintained by an organization or person in pursuance of legal
obligations or in the transaction of business&rdquo;. Included in this
definition would be paper records, electronic documents, transaction data
in databases, email messages, telephone voice recordings or any digital
form of information relevant to the operation of the organization.]]></description>
			<pubDate>Tue, 14 Mar 2006 17:16:22 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[A 1031 Alternative: Defer Capital Gains Without Rolling into Another Property]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=147</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=147</link>
			<description><![CDATA[Those of us who own highly appreciated assets like homes, commercial real
estate, stock portfolios, or businesses, are often reluctant to sell that
asset because of the capital gains tax and depreciation recapture costs
associated with the sale.  How many times have you heard client&rsquo;s
complain about their inability to get out from an asset because of high
taxes? We hear it all the time. A 1031 exchange
allows us to defer capital gains and depreciation recapture by rolling the
proceeds of our original property sale into another property that must be
identified with 45 days of the closing on the original (sale) property,
and closed upon with 180 days of the closing on the original (sale)
property.]]></description>
			<pubDate>Mon, 27 Feb 2006 12:11:52 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[When Do You Make Your IRA Contribution?]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=148</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=148</link>
			<description><![CDATA[Eligible taxpayers can make their 2005 Individual Retirement Account (IRA)
contributions up until April 16, 2006. Many people chose to wait up until
April 16 each year to make their prior year contribution. Are you one of
those people? You may want to reconsider&hellip;]]></description>
			<pubDate>Mon, 27 Feb 2006 11:43:56 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Big Tax Savings Now More Than Ever For Investors in Real Estate]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=142</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=142</link>
			<description><![CDATA[Significantly increasing cash flow, a cost segregation study accelerates tax deductions for real estate investors constructing, purchasing, or renovating a building throughout the United States. In a tough real estate market, a cost segregation study, the potential tax savings, and resulting cash flow increase should be taken into account when negotiating a deal. A study may just be the competitive edge the landlord or tenant needs to make the deal!]]></description>
			<pubDate>Thu, 23 Feb 2006 12:03:03 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Why Every Person Needs an Estate Plan]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=146</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=146</link>
			<description><![CDATA[What is the one thing you should never leave this world without? An estate
plan, of course!  If you are like most Americans, you think estate
planning can always be done later. However, a comprehensive estate plan is
the one thing that can protect your assets, ensure that your wishes are
carried out and support those you leave behind.]]></description>
			<pubDate>Wed, 08 Feb 2006 07:46:39 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[PCAOB Standing Advisory Group Discusses Auditor Communications and Audit Commitees]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=138</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=138</link>
			<description><![CDATA[The Public Company Accounting Oversight Board recently held its Standing
Advisory Group meeting to discuss standards-setting activities over the
past year and address proposed 2006 activities.  The SAG is composed of
approximately 30 qualified professionals representing the auditing
profession, public companies and investors.  In addition, the SAG has six
observing organizations; the Financial Accounting Standards Board, the
Government Accountability Office, the International Auditing and Assurance
Standards Board, the Securities and Exchange Commission, the Department of
Labor, and the Auditing Standards Board of the American Institute of
Certified Public Accountants. ]]></description>
			<pubDate>Wed, 01 Feb 2006 15:13:56 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[SAFE Circular 75 - The Key Provisions of Circular 75 and What They May Mean for Investors]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=131</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=131</link>
			<description><![CDATA[The dust is beginning to settle on the effect and fate of SAFE Circular 11
and Circular 29, at least for the time being.  On October 21, 2005, SAFE
issued the long awaited new circular on &ldquo;Relevant Issues Concerning
Foreign Exchange Control on Domestic Residents' Corporate Financing and
Roundtrip Investment Through Offshore Special Purpose Vehicles&quot;
(&quot;Circular 75&quot;), effective November 1, 2005.  At the same time
Circular 11 and Circular 29 will cease to be implemented.]]></description>
			<pubDate>Wed, 01 Feb 2006 15:12:36 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Federal Estate Tax Law Changes Take Effect In 2006]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=141</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=141</link>
			<description><![CDATA[The Economic Growth and Tax Relief Reconciliation Act of 2001, which was
signed into law in June of 2001, made several changes to the federal tax
law which were scheduled to take effect gradually. With the new year upon
us, here is a reminder about tax law changes that went into effect on
January 1, 2006.]]></description>
			<pubDate>Wed, 01 Feb 2006 11:37:56 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[SEC Sets Framework for Imposing Financial Penalties on Corporations]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=143</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=143</link>
			<description><![CDATA[On January 4, the U.S. Securities and Exchange
Commission articulated the factors it says it considers when weighing
financial penalties against corporations settling enforcement actions. 
The SEC issued the statement in conjunction with its announcement of two
settled enforcement actions.]]></description>
			<pubDate>Mon, 30 Jan 2006 14:29:37 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[IRS Narrows Definition of "Reportable Transactions" Subject to Mandatory Disclosure and List-Maintenance Rules]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=144</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=144</link>
			<description><![CDATA[Taxpayers that participate in a reportable transaction must disclose such 
transaction to the Internal Revenue Service. Material advisors with
respect to a  reportable transaction must also disclose such transaction
to the IRS and, in  addition, maintain a list of investors that must be
furnished to the IRS upon  request. Substantial penalties apply both to
taxpayers and material advisors for  noncompliance.]]></description>
			<pubDate>Mon, 30 Jan 2006 14:29:21 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[How Long Should You Keep Your Records]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=145</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=145</link>
			<description><![CDATA[Is your office drowning in paper? Even with all of the electronic storage
mediums available, we often get questions on record retention.  There is
no general statue of limitations for how long a business needs to hang on
to all of its records. Federal and state governments do not always agree
and the rules seem to change more often than we like.  Certain items
should be kept permanently.  ]]></description>
			<pubDate>Mon, 30 Jan 2006 14:21:38 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Accounting For Uncertain Tax Positions]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=140</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=140</link>
			<description><![CDATA[Recently, the Financial Accounting Standards Board (FASB) began
redeliberating the Exposure Draft of proposed Interpretation,
Accounting for Uncertain Tax Positions &ndash; an Interpretation of
FASB Statement No. 109, which was issued in July 2005. The proposed
Interpretation would clarify Statement 109, Accounting for Income
Taxes, to indicate the criterion an individual tax position would
have to meet for the benefit of that position to be recognized in an
enterprise&rsquo;s financial statements. ]]></description>
			<pubDate>Thu, 19 Jan 2006 16:36:45 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Dispelling Financial Statement Myths]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=139</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=139</link>
			<description><![CDATA[You may think you know how to use financial statements to manage your
business. While you may understand how key performance indicators,
percentages and benchmarking can be used when reviewing balance sheets,
income statements and cash flows to help manage a business rather than
operating it by default, there are many myths about financial statements
out there.]]></description>
			<pubDate>Thu, 05 Jan 2006 11:01:38 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Revisions May Mean More Goes to Your Heirs, Less to Uncle Sam]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=134</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=134</link>
			<description><![CDATA[In terms of changes, the federal estate rules are a complex, moving target
that will shift again on January 1, 2006. On that date, the federal estate
tax exemption will jump from $1.5 million to $2 million and the maximum
tax rate will drop from 47 percent to 46 percent. (The exemption will then
stay at $2 million until 2009, when it is scheduled to increase again to
$3.5 million, assuming Congress does not make any changes.)]]></description>
			<pubDate>Tue, 13 Dec 2005 17:07:47 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Accounting for pensions and other postretirement benefits]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=137</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=137</link>
			<description><![CDATA[At the November 10, 2005 meeting, the FASB decided to add a project to its
agenda to reconsider the current accounting guidance in Statement 87,
Employers&rsquo; Accounting for Pensions, and Statement 106,
Employers&rsquo; Accounting for Postretirement Benefits Other Than
Pensions.]]></description>
			<pubDate>Tue, 13 Dec 2005 16:52:50 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Lessen The Load of Rising Inflation]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=136</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=136</link>
			<description><![CDATA[With the broad-based inflation we&rsquo;ve experienced in 2005, now is the
time to help your clients with inventory put rising costs to work for
their businesses. While most view inflation by its clear downsides, Last
In First Out (LIFO) accounting is a tool that CPAs can use to turn this
negative into a positive. The LIFO inventory method enables businesses to
defer federal income tax based on inventory inflation.]]></description>
			<pubDate>Tue, 13 Dec 2005 16:35:30 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[IRS Delays Deferred Compensation Reporting for 2005]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=135</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=135</link>
			<description><![CDATA[In expected but welcome action, the IRS has delayed all information
reporting under the new deferred compensation rules of Code Section 409A.
Employers will not have to include any special reporting on Forms W-2 or
Forms 1099 to be issued in January for the 2005 tax year. However, it is
very likely that reporting for 2005 will be required later in 2006.]]></description>
			<pubDate>Tue, 13 Dec 2005 16:25:18 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Mending Your SOX]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=132</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=132</link>
			<description><![CDATA[Did you spend significantly more than you budgeted on your Sarbanes-Oxley
documentation and testing? Are you wondering how to reduce your costs in
the upcoming year? Have you recognized value from your investment?  Based
on our experience and based on guidance from the PCAOB May 16, 2005 Staff
Questions and Answers bulletin, there are six primary areas in which you
can reduce costs while obtaining value related to Sarbanes-Oxley
compliance.]]></description>
			<pubDate>Mon, 14 Nov 2005 10:21:27 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[IRS Announces Sweeping Settlement Initiative for Abusive Transactions]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=129</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=129</link>
			<description><![CDATA[On October 27, 2005 the IRS announced an initiative to settle twenty-one 
allegedly abusive transactions affecting more than 4,000 taxpayers. 
Taxpayers  involved in one of these twenty-one transactions have until
January 23, 2006 to  make an election to participate in the settlement
initiative.]]></description>
			<pubDate>Wed, 09 Nov 2005 11:16:36 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[FASB provides relief on grant date requirements for stock options]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=130</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=130</link>
			<description><![CDATA[On October 18, 2005, the FASB issued FASB Staff Position (FSP) FAS
123(R)-2, &ldquo;Practical Accommodation to the Application of Grant Date
as Defined in FASB Statement No. 123(R).&rdquo; The FSP addresses how a
company should determine the grant date for valuing stock options and
other stock-based compensation granted to employees.]]></description>
			<pubDate>Wed, 09 Nov 2005 06:38:41 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Reporting Deadline Changes; Extends SOX 404 Compliance Timeframe for Non-Accelerated Filers]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=128</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=128</link>
			<description><![CDATA[On September 22, 2005 the SEC proposed amendments to the &quot;accelerated
filer&quot; definition in Rule 12b-2 of the Securities Exchange Act of
1934.]]></description>
			<pubDate>Mon, 17 Oct 2005 12:52:16 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Hurricane Katrina Tax Legislation]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=125</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=125</link>
			<description><![CDATA[The Katrina Emergency Tax Relief Act of 2005 (KETRA), signed by the
President on September 23, 2005, provides immediate relief to both
individuals and businesses in the disaster-stricken areas of Louisiana,
Mississippi and Alabama.]]></description>
			<pubDate>Fri, 14 Oct 2005 09:52:13 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Family Limited Partnership Update: Strangi Decision Affirmed By Fifth Circuit]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=126</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=126</link>
			<description><![CDATA[On July 15, 2005, in a much-anticipated decision, the Fifth Circuit
delivered a victory to the Internal Revenue Service (&ldquo;IRS&rdquo;) in
the family limited partnership (&ldquo;FLP&rdquo;) area by affirming the
U.S.Tax Court&rsquo;s decision in favor of the IRS in Estate of Strangi v.
Comm&rsquo;r.1 While the decision is not surprising given that the facts
of the case were very negative from the perspective of the taxpayer and
serve as guidelines on what not to do when planning with a FLP, it was
disappointing in that it did not address a key issue that legal
practitioners were hoping it would address (this will be discussed further
below). ]]></description>
			<pubDate>Fri, 14 Oct 2005 08:23:34 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Financing A Reverse Exchange]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=124</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=124</link>
			<description><![CDATA[Beginning with the birth of deferred like-kind exchanges, taxpayers have
engaged in a wide variety of so-called &quot;parking&quot; transactions,
to facilitate reverse exchanges and construction exchanges. Such
transactions &quot;warehouse&quot; the desired replacement property with
an independent party, such as a qualified intermediary (&quot;QI&quot;),
until the taxpayer arranges for the sale of the relinquished property.]]></description>
			<pubDate>Fri, 14 Oct 2005 08:21:30 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[New Regulations On Disposal Of Consumer Report Information]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=109</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=109</link>
			<description><![CDATA[On December 4, 2003, the Fair and Accurate Credit Transactions Act of 2003,
Pub L. 108-159, 117 Stat. 1952 (&ldquo;FACT Act&rdquo;) was signed into
law. The FACT Act amends the Fair Credit Reporting Act
(&ldquo;FCRA&rdquo;), 15 U.S.C. &sect; 1681 et seq., by requiring that
&ldquo;any person that maintains or otherwise possesses consumer
information, or any compilation of consumer information, derived from
consumer reports for a business purpose to properly dispose of any such
information or compilation.&rdquo; Regulations were added, effective June
1, 2005, to assist businesses in complying with the record disposal rule
imposed by the FACT Act.]]></description>
			<pubDate>Wed, 28 Sep 2005 13:24:15 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Special Protective Measures Required: For retirement plans, real estate and accounts receivable...]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=122</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=122</link>
			<description><![CDATA[We have often stated that because we cannot always expect fair treatment
from the U.S. court system and because the system is often unpredictable,
that the key to truly effective asset protection planning is to remove the
ability of any United States court to disrupt the planning (i.e., reach
the assets). Where an offshore trust has been properly structured and
implemented, and is holding cash and marketable securities offshore (at a
time when a creditor is seeking to collect a judgment), it will be
impossible for any creditor to reach those assets (even the U.S.
government is 0-2!).]]></description>
			<pubDate>Wed, 14 Sep 2005 15:45:29 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Proposed Rules Could Affect Tax Treatment of Compensatory Partnership Interests]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=123</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=123</link>
			<description><![CDATA[The IRS and Treasury recently issued proposed regulations and a notice of a
proposed revenue procedure (Notice 2005-43) relating to the federal income
tax treatment of the receipt of partnership interests in connection with
the performance of services. Although not effective until they are
published in final form, these rules could have significant implications
for any compensatory arrangement involving partnership profits interests.]]></description>
			<pubDate>Wed, 14 Sep 2005 15:33:18 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Related Party Exchanges]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=121</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=121</link>
			<description><![CDATA[The U.S. Tax Court held that a company could not defer gain under
&sect;1031 on its exchange of properties through a Qualified Intermediary
that sold them and then later bought replacement properties from a party
related to the exchanger because the company could not demonstrate that
tax avoidance was not a principal&nbsp;purpose of the transaction.]]></description>
			<pubDate>Wed, 14 Sep 2005 08:03:15 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Tax Effect of Charging Orders Against Owners of LPs, LLCs, and LLPs]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=120</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=120</link>
			<description><![CDATA[Limited partnerships, limited liability companies, and limited liability
partnerships are becoming very popular forms of business
organization.&nbsp; One of the main benefits of such forms of organization
is that a judgment against a partner, member, or other owner of an
interest in the organization in most states results only in a charging
order, at least where there is more than one such owner.&nbsp; The result
is generally that the judgment creditor cannot satisfy its judgment
against the company&rsquo;s underlying assets until distributed to the
owner.&nbsp; However, the tax effects of a charging order are only
beginning to be seen.]]></description>
			<pubDate>Wed, 14 Sep 2005 07:54:11 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Choosing A Qualified Intermediary]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=116</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=116</link>
			<description><![CDATA[The role of the Qualified Intermediary is essential to completing a
successful and valid exchange. The Qualified Intermediary is the glue that
puts the buyer and seller of property together into the form of a 1031
Exchange. Where such an intermediary (often called an exchange
facilitator) is used, the intermediary will not be considered the agent of
the taxpayer for constructive receipt purposes.]]></description>
			<pubDate>Mon, 22 Aug 2005 11:53:00 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Better Decision Making Made Possible]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=119</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=119</link>
			<description><![CDATA[Archive storage, as an outsourced process, is a growing option for
companies burdened by government regulatory action and industry
mandates.&nbsp; As more companies turn to external storage options, your
ability to assess risk may mean the difference in winning business or
remaining competitive.&nbsp; Understanding costs, in particular in a
competitive marketplace, can direct which storage solution you should
implement in your facility.]]></description>
			<pubDate>Mon, 22 Aug 2005 09:40:37 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Server Vaults Ride Wave of Heightened Security Demands]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=117</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=117</link>
			<description><![CDATA[To the consumer, it appears that the IT community has totally lost control
of information assets with identity theft issues a daily headline. The
astute IT Manager must deal with this new threat even as executive
management comes to grips with compliance with Sarbanes Oxley Legislation
that severely punishes top management for loss or destruction of media.
Spoliation of media was a frequent occurrence&nbsp; for data processing
operations, but now it is viewed as a criminal offense with prison terms
for managers, fines for the corporation and a loss of prestige and stock
value to further compound the effect of faulty management control. ]]></description>
			<pubDate>Thu, 18 Aug 2005 08:33:15 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Revenue Procedure 2005-14: Combine IRC §121 and IRC §1031 to Save Taxes]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=118</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=118</link>
			<description><![CDATA[Until recently, a taxpayer that converted a personal residence to an
investment property or vice versa, had to choose between using IRC
&sect;121 (exclusion of gain on the sale of a principal residence) or IRC
&sect;1031 (non-recognition of gain in like-kind exchange). However, with
the issuance of Revenue Procedure 2005-14 (1/27/2005, corrected 2/3/2005),
taxpayers can combine the benefits of both code sections, as long as the
requirements of both sections can be separately met.]]></description>
			<pubDate>Wed, 17 Aug 2005 15:37:13 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Implementing Sarbanes-Oxley: Learning From Past Mistakes]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=115</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=115</link>
			<description><![CDATA[Sarbanes-Oxley Act, officially titled the Public Company Accounting Reform and Investor Protection Act of 2002, was signed into law on July 30, 2002.&nbsp; The Act is considered the most significant change to federal securities laws in decades.&nbsp; Infamous corporate financial scandals, including Enron, Arthur Andersen, and WorldCom, created the drive for reform.&nbsp; The primary impact of the act on the accounting profession was the shift from self-regulation of auditing standards to rule-setting and review by the Public Company Accounting Oversight Board (PCAOB).On April 13, 2005, the SEC held a roundtable to discuss implementation of the internal control reporting requirements.&nbsp; The PCAOB issued a policy statement on May 16 summarizing their response to the issues discussed at the roundtable.]]></description>
			<pubDate>Thu, 28 Jul 2005 14:40:23 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Eleventh Circuit Ruling on the Federal Communications Excise Tax May Mean Refund Opportunities for Businesses]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=113</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=113</link>
			<description><![CDATA[The Internal Revenue Code imposes a 3 percent communications excise tax on certain telephone services; this tax is ordinarily added to your bill by your long distance provider and then remitted to the IRS. The Eleventh Circuit U.S. Court of Appeals in American Bankers Ins. Group v. United States recently held that flatrate long distance service is not subject to the excise tax, contrary to the contentions of the IRS. Although the IRS has stated that taxpayers should continue to pay the excise tax on flat-rate long distance, telecommunications customers in the 11th Circuit (Alabama, Georgia and Florida) may wish to file protective refund claims promptly in order to preserve their rights upon a possible concession by the IRS or an eventual U.S. Supreme Court ruling.]]></description>
			<pubDate>Thu, 28 Jul 2005 12:20:26 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Tax Advisor's Privilege Under IRC § 7525]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=114</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=114</link>
			<description><![CDATA[Before we can understand the tax advisor's privilege, we must first understand the attorney-client privilege. The attorney-client privilege is naturally of major importance to lawyers, but with the advent of the federal tax practitioner privilege under Internal Revenue Code Section 7525, it has also become of major importance to accountants and enrolled agents because the IRC &sect; 7525 privilege is, to the extent it applies, coextensive with the attorney-client privilege and has the same limitations.]]></description>
			<pubDate>Thu, 28 Jul 2005 12:06:59 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Offshore Trust/Offshore LLC Combination]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=112</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=112</link>
			<description><![CDATA[The LP/TRUST PLAN works like this: A U.S. limited partnership is established by the client. The client is designated as the 1% general partner, and the offshore trust established by the client is designated as the 99% limited partner. The client transfers assets into the partnership, and, as the general partner, directly controls and manages those assets. The partnership is required to annually file Form 1065 U.S. Partnership Return of Income.]]></description>
			<pubDate>Thu, 14 Jul 2005 08:15:44 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[IRA Exemptions: Has The U.S. Supreme Court Settled The Matter?]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=111</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=111</link>
			<description><![CDATA[On April 4, 2005, the United States Supreme Court handed down its decision in Rousey v. Jacoway, a case addressing the issue of exempting individual retirement accounts (IRAs) from federal bankruptcy proceedings. The decision was widely hailed in the financial press, with such headlines as &ldquo;High Court Rules IRAs Untouchable - Unanimous Decision Means Retirement Savings Are Protected From Creditors&rdquo; (Wall Street Journal, April 5, 2005, p. D1). Unfortunately for the public, the headlines did not accurately reflect the underlying story, but this issue of APN will clarify the holding.]]></description>
			<pubDate>Thu, 23 Jun 2005 08:18:26 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Recent Cases on Section 2036 for Family Limited Partnerships and Limited Liability Companies]]></title>
			<guid>http://www.cpa-resource.com/articles/view.php?article_id=110</guid>
			<link>http://www.cpa-resource.com/articles/view.php?article_id=110</link>
			<description><![CDATA[Family limited partnerships and family limited liability companies are regularly used in estate planning. There are a number of reasons for such use, among the most important of which is obtaining substantial valuation discounts, such as marketability and lack of control discounts, for transfer tax purposes. The federal government has in the last few years mounted an attack on such discounts using Internal Revenue Code (&ldquo;IRC&rdquo;) &sect; 2036 as its weapon of choice.]]></description>
			<pubDate>Thu, 23 Jun 2005 08:12:13 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Records Retention and The Litigation Hold]]></title>
			<guid>http://www.cpa-resource.com/reports/view.php?whitepaper_id=58</guid>
			<link>http://www.cpa-resource.com/reports/view.php?whitepaper_id=58</link>
			<description><![CDATA[The goals of a records retention policy are to address the management, storage and destruction of company documents. Documents include paper (including communications, contracts, maps, etc) as well as other media, including photographs, maps, and calendars). In addition, typically the largest volume of company information is contained in electronic form, including emails, word processing documents, faxes, spreadsheets and databases. Many small to mid-size companies, however, do not have uniform procedures and policies for the retention of records. A surprising number of larger companies do not have retention policies or do not have an effective protocol for ensuring compliance with the existing policies.]]></description>
			<pubDate>Wed, 26 Aug 2009 13:50:52 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Estate Planning Update - Self Study Workbook]]></title>
			<guid>http://www.cpa-resource.com/reports/view.php?whitepaper_id=29</guid>
			<link>http://www.cpa-resource.com/reports/view.php?whitepaper_id=29</link>
			<description><![CDATA[Save time and money by earning your mandatory California CLE inside this workbook!In this workbook you will find four need-to-know articles highlighting important issues that impact your industry and the clients you serve. Each article contains a small assessment of 10 questions relating to the article. Download the workbook for free and stay current. You can earn California CLE credit for less than $40/credit hr!Earn your CLE in 4 easy steps:1. Read the articles contained in this self-study workbook.2. Take the short assessment(s) located in the back of the workbook.3. Mail or fax back your answers along with the order form and payment.4. Receive credit with a score of 80% or better &ndash; We will notify you of your score via email. See full credit information on page 40.The Estate Planning Update Self Study Workbook allows you to earn up to 4 credits by reading articles on the exciting topics:1. Asset Protection Basic Primer2. Trust Beneficiaries3. S Corporations and Estate Administration4. Conduit Trusts, Accumulation Trusts, and Trusteed IRAs
Remember - The Estate Planning Update Self Study Workbook is 100% free. You only pay if you desire CLE credit approval.
The&nbsp;quickest and easiest&nbsp;CLE you can earn!]]></description>
			<pubDate>Fri, 13 Feb 2009 11:48:39 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[The 2 P's of Disaster Planning: When You Can't Prevent, You Must Prepare]]></title>
			<guid>http://www.cpa-resource.com/reports/view.php?whitepaper_id=11</guid>
			<link>http://www.cpa-resource.com/reports/view.php?whitepaper_id=11</link>
			<description><![CDATA[Corporations are continually reassessing their incident response preparedness for the purpose of mitigating risks and improving protection of their employees, visitors, customers, assets and facilities. Thus, it is imperative that every company, no matter what size, have in place a plan to respond to a corporate disaster.]]></description>
			<pubDate>Tue, 09 Oct 2007 07:35:57 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Sarbanes-Oxley Overview]]></title>
			<guid>http://www.cpa-resource.com/reports/view.php?whitepaper_id=7</guid>
			<link>http://www.cpa-resource.com/reports/view.php?whitepaper_id=7</link>
			<description><![CDATA[Enron, WorldCom and other corporate failures focused public attention on the quality and integrity of disclosures in public companies public disclosures. Congress adopted the Sarbanes-Oxley Act of 2002, and President Bush signed it into law on July 30, 2002, creating the most radical redesign of federal securities laws since the 1930s. Some provisions were effective immediately, while others became effective when the SEC or adopts the relevant rules.

The Sarbanes-Oxley Act mandated reforms to reporting and corporate governance, and the Securities and Exchange Commission, and self-regulatory organizations, like the New York Stock Exchange and Nasdaq, have raced to keep pace...]]></description>
			<pubDate>Fri, 14 Sep 2007 11:49:40 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Overview of Asset Protection]]></title>
			<guid>http://www.cpa-resource.com/reports/view.php?whitepaper_id=10</guid>
			<link>http://www.cpa-resource.com/reports/view.php?whitepaper_id=10</link>
			<description><![CDATA[For the past several years asset protection has been one of the fastest growing areas of law. It is also one of the most controversial ? the goal of asset protection is to shield assets from the reach of creditors.

Asset protection should simply be about structuring the ownership of ones assets to safeguard them from potential future risks. Most asset protection structures are commonly used business and estate planning tools, such as limited liability companies, family limited partnerships, trusts and the like. Properly implemented asset protection planning should be legal and ethical. It should not be based on hiding assets or on secrecy. It is not a means or an excuse to avoid or evade U. S. taxes.

There is no one ?magic bullet? in asset protection. The term ?asset protection? encompasses a number of planning and structuring mechanisms that may be implemented by a practitioner to minimize a clients exposure to risk. For each client the asset protection solution will be different, depending on (i) the identity of the debtor;(ii) the nature of the claim; (iii) the identity of the creditor; and (iv) the nature of the assets. These are four threshold factors that are either expressly or implicitly analyzed in each asset protection case. The analysis of these four factors determines what planning would be possible and effective for a specific client...]]></description>
			<pubDate>Fri, 14 Sep 2007 11:49:28 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Choosing a Form of Business Entity for Your Business]]></title>
			<guid>http://www.cpa-resource.com/reports/view.php?whitepaper_id=9</guid>
			<link>http://www.cpa-resource.com/reports/view.php?whitepaper_id=9</link>
			<description><![CDATA[In the United States, there are six legal and tax formats for doing business:

1) Sole Proprietorships
2) General Partnerships
3) Limited Partnerships
4) Limited Liability Partnerships
5) Corporations taxed under Subchapter C
6) Corporations taxed under Subchapter S

The report is intended to generally describe these forms of business entity and to review in general terms the key features and issues associated with the different forms. The information contained within this report will be valuable to professionals as a handout to clients interested in forming a business...]]></description>
			<pubDate>Fri, 14 Sep 2007 11:48:43 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[Estate Planning Information]]></title>
			<guid>http://www.cpa-resource.com/reports/view.php?whitepaper_id=8</guid>
			<link>http://www.cpa-resource.com/reports/view.php?whitepaper_id=8</link>
			<description><![CDATA[Estate Planning requires an understanding of the various types of retirement vehicles, which are founded on the concept of tax deferred income growth...]]></description>
			<pubDate>Wed, 12 Sep 2007 14:23:09 CDT</pubDate>
		</item>
	</channel>
</rss>