September Features:

The Eight Imperatives of Global Investing
By Thomas S. Hexner
    High-net-worth individuals will want to maximize their investments, and our author presents eight keys to invest successfully in the global market. With U.S. markets performing on the blah side, it is time to take a careful look.

Irrevocable Life Insurance Trusts
By Lawrence M. Lipoff
    An irrevocable life insurance trusts can keep the proceeds of a policy out of an estate--and safe from estate taxes. The author discusses incidents of ownership of policies, and covers the gift, generation-skipping transfer, and income tax ramifications of irrevocable life insurance trusts.

Transfer Tax Relief Under TRA '97
By Laurence I. Foster and Michael A. Kilgallen
    The Taxpayer Relief Act of 1997made a number of changes affecting estate, gift, and generation-skipping taxes. These changes have opened up new opportunities, and presented new challenges, for the adviser to the high-net-worth individual. This article reviews those changes and explores the opportunities they create.

More on Income in Respect of a Decedent
By Stephen D. Lassar and Mark W. McGorry
    Retirement plans are the preferred vehicles to build nest eggs, but at death, the tax deferral comes home to roost. The savings can be subject to both estate and income taxes. The authors of last September's article on avoiding this double whammy explore some additional ways to maximize the savings of high-net-worth individuals.

Answers to 20 Questions on the Use of Trusts
By Peter A. Karl III
    This primer on trusts covers their formation, benefits, filing requirements, and tax considerations. Various kinds of trusts, such as grantor trusts, testamentary trusts, and charitable remainder trusts are also covered in the answers.

The CPA as Investment Adviser
By James F. Reeves

    CPAs are uniquely positioned to take advantage of the increasing demand for financial planning and investment services. The author examines the various forms that an advisory service can take, discusses the change in relationships with clients and third-party advisers, and weighs the plusses and minuses of fees vs. commissions.


   September Departments:

Revenue recognition and the Bausch and Lomb case

The CPA in Industry
Arthur Andersen makes best practices easier

Estates and Trusts
What every CPA should know about Estate of Hubert

Federal Taxation
Tax deficiency interest not deductible--Tax Court reversed
Three steps towards improved IRS collections procedures

IRA Planning
Using trusts as IRA beneficiaries

The SEC Advisor
Subchapter S corporation going public

The CPA in Mediation and Arbitration
The CPA as arbitrator
In case you asked ...

   September New & Views:

September is High-Net-Worth Time

Reactions to the TBS Acquisition of Goldstein Golub Kessler

Salomon Smith Barney Creates Strategic Alliance With CPA Firms

New Jersey ADR Conference

New Insurance Programs Provide Protection for Tax Liabiilities

Tax Court Ruling on Penalty Calcualations Favors IRS

New Jersey Affirms Diversity

Financial Planning Guide Targets High-Met-Worth Individuals

U.S. Shoe Gives the Boot to Export Ad Valorem User Fees

The Supreme Court's Decision On Sexual Harassment Spell Trouble For Small Businesses

Wrong Effective Date For New York State Tax Item

Congress Passes IRS Reform Legislation

Melancon Enters NCCPAP Den and Wins the Lions Over

Booz-Allen Unveils IRS Restructuring Study

Independance Board Issues Invitation to Comment

FASB Gets Nods of Approval at 25th Anniversary

LLC Self-Employment Regulation to Remain on Hold

Letters to the Editor


This Month | About Us | Archives | Advertise| NYSSCPA

The CPA Journal is broadly recognized as an outstanding, technical-referred publication aimed at public practitioners, management, educators, and otheraccounting professionals. It is edited by CPAs for CPAs. Our goal is to provide CPAs and other accounting professionals with the information and news to enable them to be successful accountants, managers, and executives in today's practice environments. 

©2006 The CPA Journal.  Legal Notices

Visit the new