AAA-CPA — Article Archive

Select a Recent Article

Federal Tax Update – July 2018

Document

INDIVIDUALS In Jusino v. Commissioner, TC Memo 2018-112, the Tax Court denied the personal exemption, child credit and earned income credit to a couple who had lost parental rights to children who were adopted by their aunt. In Grainger v. Commissioner, TC Memo 2018-117, the Tax Court disallowed most of the $85,000 in charitable deductions […]

CONTINUE READING

Federal Tax Update – June 2018

Document

INDIVIDUALS In Johnson v. Commissioner, TC Summary Opinion 2018-31, the Tax Court stated that the test as to primary physical custody between divorced parents as to dependency allowances is based on comparative number of nights as opposed to comparative time with the children. In Palsgaard and Kelly v. Commissioner, TC Memo 2018-82, the Tax Court […]

CONTINUE READING

Federal Tax Update – May 2018

Document

INDIVIDUALS In Voigt v. Commissioner, TC Summary Opinion 2018-25, the Tax Court agreed with IRS that an individual who was laid off from Tulane University and received tuition waivers for his children as part of his severance package was properly taxed on the value of the benefit as the general exclusion for undergraduate education of […]

CONTINUE READING

What is an Extended Reporting Period and Why is it Important?

Why Not Hire

Many of you are already aware that your Professional Liability Policy through the American Academy of Attorney-CPAs is a Claims-Made Policy. The claims-made policy provides cost advantages but also allows you to insure the risks resulting from past services under your present policy. If we don’t see cancellations or lapses in coverage, we can approve Retroactive […]

CONTINUE READING

Federal Tax Update – April 2018

Document

INDIVIDUALS In Hatcher v. Commissioner, 121 AFTR2d 2018-1397, the Fifth Circuit Court of Appeals agreed with the Tax Court that an individual who lent her then boyfriend in excess of $582,000 was not in the business of lending and could only claim a capital loss when only $7,000 of it was repaid. In Davidson v. […]

CONTINUE READING

Member Spotlight: Michael W. Hoffman

Member Spotlight

Michael Hoffman is the founding and managing partner (member) of Hoffman & Associates, and oversees the general operations and personnel of the legal and tax sections of the Firm.  Mike works primarily in the areas of estate planning, to minimize the effect of the estate tax, insure orderly transition of generations in family businesses, and […]

CONTINUE READING

Member Spotlight: Judy Vorndran

Member Spotlight

As a dually-licensed CPA and lawyer, Judy Vorndran leads the state and local tax practice at TaxOps and is the President of the AAA-CPA Colorado Chapter. She is also a member of the Governor’s taskforce to simplify Colorado sales tax, which puts her at the table with lawmakers who, like Judy, are advocating for change […]

CONTINUE READING

Member Spotlight: Daniel J. Hoffman

Member Spotlight

Dan was born and raised in South Bend, Indiana. He earned a bachelor’s degree in accounting from Indiana University at Bloomington in 1980, attended Notre Dame Law School as a visiting student, and obtained his Juris Doctorate from DePaul University in Chicago in 1986. Dan has served as an audit and tax accountant for Price […]

CONTINUE READING

Federal Tax Update – March 2018

Document

INDIVIDUALS In Spireas v. Commissioner, 121 AFTR2d 2018-________, the Third Circuit Court of Appeals agreed with the Tax Court that royalties paid to the inventor on a technology license agreement were ordinary income and not capital gain inasmuch as the inventor had not transferred all of his rights away – as to the technology in […]

CONTINUE READING