Historically, CPAs have dissuaded estate planning clients from funding family limited partnerships with personal use property, such as a primary or secondary residence. In the past the IRS has attacked the transfer of such property to a family limited partnership on the grounds that the entity lacked a valid or
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Government
Treasury to garnish delinquent borrowers’ SSA benefits ( www.ssa.gov/enews/debtpayment.htm ). Bush plan to invest SSA funds gives SEC commissioner pause ( www.sec.gov/news/speech/spch459.htm ).
Line Items
Tax Matters LINE ITEMS Some Plane Overhauls Can Be Expensed A commercial airline, in order to conform to strict government safety standards, adopted a maintenance policy that required each of its airplanes to undergo a complete overhaul every eight years. Typically, each plane was out of commission
Jump Between Worksheets Without A Mouse
Q. Is there an easy way to move between worksheets in an Excel workbook without having to aim the mouse at those tiny tags on the bottom of the page? A. You can move worksheets with the keyboard by using Ctrl+PgUp and Ctrl+PgDown. Ctrl+PgUp moves toward the first worksheet in
Mergers And Acquisitions
FASB decides to end pooling-of-interests accounting method ( www.rutgers.edu/accounting/raw/fasb/news/nr012401.html ).
IRS Weighs in on Day Traders
I am the technical reviewer for many of the forms and instructions issued by the IRS, including schedules C, D and SE (form 1040) and form 4797. There appear to be many inconsistencies and incorrect statements [ in the January JofA article on page 80 ] regarding traders (including day
sied_ex3
Exhibit 3 Carlin, Charron & Rosen’s site ( www.ccrweb.com ) takes you right to an excellent links section. The feature is a free-standing category on CCR’s home page. Notice its health, auction and life-style links.
Customize Headers And Footers
Q. I work on large documents that are divided into many sections, similar to book chapters. I want to place different identifying headers on the pages of each section so readers know which one they’re in. For some reason I can’t get it to work. Every time I add a
Be a Standout on the Web
EXECUTIVE SUMMARY A WEB SITE IS A VALUABLE DIRECT MARKETING TOOL when it has action-oriented copy and graphics, reader involvement devices and promotional offers that prompt readers to respond. FOCUS ON WHAT CLEARLY SEPARATES YOUR FIRM from the competition and can be locked into the minds of your prospective clients.
More on Day Trading
I believe I can offer a very clear and concise method the courts could take in the day trading arena ( “Day Trading and Self-Employment Taxes” [ JofA , Jan.01, page 80] ). Since the primary question is what constitutes a trade or business, that determination could be made based
sied_ex2
Exhibit 2 This is what you see if you select Services from the Grant Thornton ( www.gt.com ) home page, which has a scrolling highlights feature. The site loads quickly and is interactive.
Technology
Privacy advocates petition legislators for their support on tough standards ( www.epic.org/privacycoalition/coalition_press_release.html ).
Tax Court Has Low Tolerance for Frivolous Arguments
A family trust the IRS determined was a sham received a deficiency notice that disallowed charitable deductions, attorney and fiduciary fees, an S corporation loss and various other expenses, thereby increasing its gross income by nearly $500,000. The taxpayer responded by raising only frivolous arguments, which lacked merit and seemed
You Read About It First in the JofA
The recently issued SAS no. 93, Omnibus Statement on Auditing Standards—2000 ( JofA , Jan.01, pages 14 and 116), specifies the auditor’s report should indicate which country’s accounting principles and auditing standards were used to prepare the financial statements and audit them. This reference to the country of origin will
Auditing Employment Benefit Plans—Another Factor.
“ERISA Liability for CPAs” ( JofA , Dec.00, page 39) pointed out the delicate issues surrounding employee benefit plans. However, the article did not mention one potential problem area our firm has encountered in auditing such plans—companies’ use of third-party administrators (TPAs). TPAs handle the day-to-day transactions and final plan-year
The Straight Story On Screen Savers
Q. I remember reading somewhere that screen savers are unnecessary. But my tech support person insists I’m wrong, citing as proof the fact that screen savers are so popular. Who’s right? A. Well, you’re both right—although his argument that screen savers’ popularity proves his claim is specious, at best. Screen
Fraud
Money launderers duping banks, says Senate report ( www.senate.gov/~gov_affairs/020501_psi_minority_report.htm ).
Facing the Future
EXECUTIVE SUMMARY DON’T BE QUICK TO upgrade to the hot new technology. Those who rush to be at the forefront often pay a high price because the newest and hottest technology is usually the most expensive and the most vulnerable to initial design errors. AVOID GETTING LURED into buying the
Doing Business Internationally
As the business world goes global, CPAs are advising clients more frequently on how to take advantage of opportunities to market their products and services abroad. Here are some steps a company should take before entering the international market. CONDUCT PRELIMINARY MARKET RESEARCH Obtain information about foreign markets from the
rose_ex4
Exhibit 4
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How to find the right CAS clients
The key to success with CAS is selecting the best clients. Tools like ideal client profiles (ICPs), buyer personas, and even artificial intelligence can help identify the businesses that best fit each CAS practice.
From The Tax Adviser
March 31, 2026
Current developments in taxation of individuals: Part 1
March 31, 2026
Current Developments in Taxation of Individuals: Part 1
March 6, 2026
