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October 2009
Charitable Remainder Trust Update
TAX / PERSONAL FINANCIAL PLANNING

CPA tax advisers need to keep up with the latest developments on these popular vehicles for minimizing tax on appreciated assets.

The Generation-Skipping Transfer Tax
TAX / PERSONAL FINANCIAL PLANNING

The generation-skipping transfer tax has a reputation for difficulty in planning, and it doesn’t help that its future direction, along with the estate and gift tax to which it is related, is cloudy. But in its basics, the GSTT is straightforward. Now, while the exemption amount is at an all-time high, is a good time to plan how to allocate that exemption.

PROFESSIONAL ISSUES

Partners and CFOs looking to develop their young CPAs into future leaders have to provide proper training beyond technical skills. Several emerging accountants share what they need to succeed.

ECONOMIC ANALYSIS

The authors explain the role of macroeconomic imbalances—namely excessive consumption by government and households—in the current economic crisis and discuss the tough policy choices necessary to restore the nation to long-term prosperity.

PERSONAL FINANCIAL PLANNING

The AICPA hosted a round-table event among CPAs from the personal financial planning community to discuss the recent financial crisis, its effect on client investment strategies, and the outlook for the future.

TAX / PERSONAL FINANCIAL PLANNING

A variety of tax provisions in the American Recovery and Reinvestment Act passed in February could affect your clients’ individual returns in the upcoming filing season.

ECONOMIC ANALYSIS

Take a high-level look at the results of the Business & Industry Economic Outlook Survey Q3 2009, conducted by the AICPA and the University of North Carolina’s Kenan-Flagler Business School.

FINANCIAL REPORTING / INTERNATIONAL

For CPAs concerned about how consistent interpretation and application can be achieved in the principles-based environment of IFRS, this article introduces the process of developing official interpretations of IFRS through the International Financial Reporting Interpretations Committee (IFRIC) and also explains how IFRIC differs from FASB’s Emerging Issues Task Force (EITF).

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