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Are you really able to use the term CPA?

Blogging

By Beth A. Berk, CPA, CGMA This article originally appeared in CPA Insider. ©2019 Association of International Certified Professional Accountants. All rights reserved. Used by permission. Warning: If your CPA license is inactive, expired, or was issued in a state other than the one where you live or work, you may not be able to […]

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Member Spotlight – James T. Elliott, Jr.

Member Spotlight

As a tax lawyer and CPA, James T. Elliott practices income tax and estate tax law, representing business owners, corporate executives, and wealthy individuals and their families. Jim’s practice focuses on succession planning, effective use of insurance in estate planning, income tax and gift tax planning, and litigation support. James T. Elliott began working as […]

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Federal Tax Update – March 2019

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INDIVIDUALS In Gaylor v. Mnuchin, 123 AFTR2d 2019-1056, the Seventh Circuit Court of Appeals reversed a decision of a Wisconsin Federal District Court and determined that the housing allowance for the clergy is constitutional and does not violate the First Amendment as endorsing religion, the Court concluding that the law was to offer religious leaders […]

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Federal Tax Update – February 2019

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INDIVIDUALS In Doyle v. Commissioner, TC Memo 2019-8, the Tax Court determined that a settlement received by an individual who was fired for “whistleblowing” which allegedly caused stress bringing on multiple physical problems was taxable; the complaint said nothing about emotional or physical injuries (the CPA reported the settlement payments over two years on a […]

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Federal Tax Update – January 2019

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INDIVIDUALS In 2590 Associates LLC v. Commissioner, TC Memo 2019-3, the Tax Court allowed an entity owned in part by Alabama football coach, Nick Saban, to claim a bad debt deduction as assignee of a loan made by Saban to a developer, the Court finding that Saban expected repayment on advancing the funds as did […]

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Dually-licensed Attorney-CPAs Offer Best Of Both Worlds

Both

There are myriad options available when it comes to selecting the professionals you will utilize in your business and personal life, but the two most common are likely a CPA and an attorney. The skillsets required for both of these specialists are unique; the attorney must be able to devise creative and persuasive solutions within […]

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Federal Tax Update – December 2018

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INDIVIDUALS In Connell v. Commissioner, TC Memo 2018-213, the Tax Court determined that forgiveness of a broker’s debt to Merrill Lynch, as ordered by the Financial Industry Regulatory Authority (FINRA) gave rise to ordinary income and could not be tied back to the sale of a business. Hassan v. Commissioner, TC Summary Opinion 2018-56, and […]

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Avoiding Ethical Issues When Using Social Media

Social media can be a powerful tool to build brand awareness for your firm and help elevate your status as an expert in your respective field. Yet attorneys and CPAs always need to keep in mind when it comes to web interactions of possible breaches of ethics rules. Due to the rapid growth of social […]

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Due Diligence Activities in Merger and Acquisition Transactions

Why Not Hire

Due Diligence Activities in Merger and Acquisition Transactions When is Due Diligence conducted? Due diligence in a merger and acquisition transaction may begin during the negotiation of a letter of intent/term sheet – typically this part of the due diligence process will be undertaken without the assistance of the target (the “Target”, which term includes […]

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Leverage Effective Counsel to Influence Changes and Impact Business Performance

Both

Leverage Effective Counsel to Influence Changes and Impact Business Performance Learning Objectives: Importance of involving counsel to be proactive in establishing controls that reduce risk and influence change to increase business results  Definition of Corporate Governance  “Corporate Governance refers to the way in which companies are governed and to what purpose. It identifies who has power […]

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