A Different Approach


The Ins and Outs of SERP Swaps(JofA, Oct.00, page 44) indicates that income and estate taxes consume 83% of assets and future growth. This high taxation computation is achieved by applying the 31% income tax rate twice, once for accumulating the assets and again for earnings on the investments. However, the increase in wealth to descendants is only the original accumulation and does not include the subsequent earnings on investments.

I suggest that the pie chart show the following:

Recommended assets and future growth

Victor G. Trivett, CPA


6 key areas of change for accountants and auditors

New accounting standards on revenue recognition, leases, and credit losses present implementation challenges. This independently-written report identifies the hurdles that accounting professionals face and provides tips for overcoming the challenges.


How tax reform will impact individual taxpayers

Amy Wang, a CPA who is a senior technical manager for tax advocacy at the AICPA, answers to some of the most common questions on how the new tax reform law will impact individual taxpayers.