Annual Financial Planning Issue<br />
PAPEROR PLASTIC?<br />
Financial Responsibility and Consumer Debt<br />
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Plus<br />
Tax Implications of Foreclosure<br />
Social Security Strategies<br />
Tax Planning for MinistersWatch out —<br />
that next step is risky.<br />
Are you prepared to take<br />
the next step in your career?<br />
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<br /><a title="The CPA Journal - September 2008 page 1" href="http://viewer.zmags.com/publication/9c5986ae?page=1">Annual Financial Planning IssuePAPEROR PLASTIC?</a> Annual Financial Planning IssuePAPEROR PLASTIC?<a title="The CPA Journal - September 2008 page 2" href="http://viewer.zmags.com/publication/9c5986ae?page=2">Watch out —that next step is risky.Are you pre</a> Watch out —that next step is risky.Are you pre<a title="The CPA Journal - September 2008 page 3" href="http://viewer.zmags.com/publication/9c5986ae?page=3"></a> <a title="The CPA Journal - September 2008 page 4" href="http://viewer.zmags.com/publication/9c5986ae?page=4">C ONTENTSseptember 200822 Accounting & A</a> C ONTENTSseptember 200822 Accounting & A<a title="The CPA Journal - September 2008 page 5" href="http://viewer.zmags.com/publication/9c5986ae?page=5">vol. LXXVIII/no. 9</a> vol. LXXVIII/no. 9<a title="The CPA Journal - September 2008 page 6" href="http://viewer.zmags.com/publication/9c5986ae?page=6"> PublisherLOUIS GRUMETAssociate P</a> PublisherLOUIS GRUMETAssociate P<a title="The CPA Journal - September 2008 page 7" href="http://viewer.zmags.com/publication/9c5986ae?page=7"></a> <a title="The CPA Journal - September 2008 page 8" href="http://viewer.zmags.com/publication/9c5986ae?page=8">P ERSPECTIVESemployee benefit plans</a> P ERSPECTIVESemployee benefit plans<a title="The CPA Journal - September 2008 page 9" href="http://viewer.zmags.com/publication/9c5986ae?page=9">publisher's columnLet's Learn to Walk</a> publisher's columnLet's Learn to Walk<a title="The CPA Journal - September 2008 page 10" href="http://viewer.zmags.com/publication/9c5986ae?page=10">(Continued from page 6) </a> (Continued from page 6) <a title="The CPA Journal - September 2008 page 11" href="http://viewer.zmags.com/publication/9c5986ae?page=11">deals with an individual's right to sue, thevery</a> deals with an individual's right to sue, thevery<a title="The CPA Journal - September 2008 page 12" href="http://viewer.zmags.com/publication/9c5986ae?page=12">announcementCPE ON THE GO!StJaurlt</a> announcementCPE ON THE GO!StJaurlt<a title="The CPA Journal - September 2008 page 13" href="http://viewer.zmags.com/publication/9c5986ae?page=13">When Accounting Finally Becomes Glo</a> When Accounting Finally Becomes Glo<a title="The CPA Journal - September 2008 page 14" href="http://viewer.zmags.com/publication/9c5986ae?page=14">be helpful in reducing the complexity offinancia</a> be helpful in reducing the complexity offinancia<a title="The CPA Journal - September 2008 page 15" href="http://viewer.zmags.com/publication/9c5986ae?page=15">SAVE THE DATE!Investment CompaniesConferen</a> SAVE THE DATE!Investment CompaniesConferen<a title="The CPA Journal - September 2008 page 16" href="http://viewer.zmags.com/publication/9c5986ae?page=16">book reviewThe Complete Idiot's Guide t</a> book reviewThe Complete Idiot's Guide t<a title="The CPA Journal - September 2008 page 17" href="http://viewer.zmags.com/publication/9c5986ae?page=17"></a> <a title="The CPA Journal - September 2008 page 18" href="http://viewer.zmags.com/publication/9c5986ae?page=18">FocusIn</a> FocusIn<a title="The CPA Journal - September 2008 page 19" href="http://viewer.zmags.com/publication/9c5986ae?page=19">Paperor Plastic?CPAs Can Educate College Stude</a> Paperor Plastic?CPAs Can Educate College Stude<a title="The CPA Journal - September 2008 page 20" href="http://viewer.zmags.com/publication/9c5986ae?page=20">with a large debt burden is an obviousproblem. F</a> with a large debt burden is an obviousproblem. F<a title="The CPA Journal - September 2008 page 21" href="http://viewer.zmags.com/publication/9c5986ae?page=21">lucrative contracts have been used to fundfinanc</a> lucrative contracts have been used to fundfinanc<a title="The CPA Journal - September 2008 page 22" href="http://viewer.zmags.com/publication/9c5986ae?page=22">web-based information, as well as a widevariety </a> web-based information, as well as a widevariety <a title="The CPA Journal - September 2008 page 23" href="http://viewer.zmags.com/publication/9c5986ae?page=23">The Pace MS in Taxation. On your schedule.</a> The Pace MS in Taxation. On your schedule.<a title="The CPA Journal - September 2008 page 24" href="http://viewer.zmags.com/publication/9c5986ae?page=24">A CCOUNTING & AUDITINGaccounting</a> A CCOUNTING & AUDITINGaccounting<a title="The CPA Journal - September 2008 page 25" href="http://viewer.zmags.com/publication/9c5986ae?page=25">Issues Task Force (EITF) has issued guid-ance ov</a> Issues Task Force (EITF) has issued guid-ance ov<a title="The CPA Journal - September 2008 page 26" href="http://viewer.zmags.com/publication/9c5986ae?page=26"> EXHIBIT 2Illustrative</a> EXHIBIT 2Illustrative<a title="The CPA Journal - September 2008 page 27" href="http://viewer.zmags.com/publication/9c5986ae?page=27">is either cash or “other than cash” is flawedbec</a> is either cash or “other than cash” is flawedbec<a title="The CPA Journal - September 2008 page 28" href="http://viewer.zmags.com/publication/9c5986ae?page=28">A CCOUNTING & AUDITINGaccounting</a> A CCOUNTING & AUDITINGaccounting<a title="The CPA Journal - September 2008 page 29" href="http://viewer.zmags.com/publication/9c5986ae?page=29">different investment styles or strategies anddif</a> different investment styles or strategies anddif<a title="The CPA Journal - September 2008 page 30" href="http://viewer.zmags.com/publication/9c5986ae?page=30">third-party vendor pricing services to valuecomp</a> third-party vendor pricing services to valuecomp<a title="The CPA Journal - September 2008 page 31" href="http://viewer.zmags.com/publication/9c5986ae?page=31">funds pursue and the inherent difficulty invalui</a> funds pursue and the inherent difficulty invalui<a title="The CPA Journal - September 2008 page 32" href="http://viewer.zmags.com/publication/9c5986ae?page=32">A CCOUNTING & AUDITINGsec practice</a> A CCOUNTING & AUDITINGsec practice<a title="The CPA Journal - September 2008 page 33" href="http://viewer.zmags.com/publication/9c5986ae?page=33">■ Include discussions about how one ele-ment o</a> ■ Include discussions about how one ele-ment o<a title="The CPA Journal - September 2008 page 34" href="http://viewer.zmags.com/publication/9c5986ae?page=34">be adjusted up or down to reflect addi-tional qu</a> be adjusted up or down to reflect addi-tional qu<a title="The CPA Journal - September 2008 page 35" href="http://viewer.zmags.com/publication/9c5986ae?page=35"></a> <a title="The CPA Journal - September 2008 page 36" href="http://viewer.zmags.com/publication/9c5986ae?page=36">T AXATIONtax planningTax Conseque</a> T AXATIONtax planningTax Conseque<a title="The CPA Journal - September 2008 page 37" href="http://viewer.zmags.com/publication/9c5986ae?page=37">the last five years. It is not necessary forthe </a> the last five years. It is not necessary forthe <a title="The CPA Journal - September 2008 page 38" href="http://viewer.zmags.com/publication/9c5986ae?page=38">ferred to another city by his employer, andthe S</a> ferred to another city by his employer, andthe S<a title="The CPA Journal - September 2008 page 39" href="http://viewer.zmags.com/publication/9c5986ae?page=39">`Project Lifeline' Recently, the U.S. Departme</a> `Project Lifeline' Recently, the U.S. Departme<a title="The CPA Journal - September 2008 page 40" href="http://viewer.zmags.com/publication/9c5986ae?page=40">property is successful, the taxpayer's expens-es</a> property is successful, the taxpayer's expens-es<a title="The CPA Journal - September 2008 page 41" href="http://viewer.zmags.com/publication/9c5986ae?page=41">WHEN YOUR CREDITS OUTWEIGH YOUR DEBITS,GOOD THIN</a> WHEN YOUR CREDITS OUTWEIGH YOUR DEBITS,GOOD THIN<a title="The CPA Journal - September 2008 page 42" href="http://viewer.zmags.com/publication/9c5986ae?page=42">T AXATIONfederal taxationTax Planning</a> T AXATIONfederal taxationTax Planning<a title="The CPA Journal - September 2008 page 43" href="http://viewer.zmags.com/publication/9c5986ae?page=43">1. The court's decision was in conflictwith the </a> 1. The court's decision was in conflictwith the <a title="The CPA Journal - September 2008 page 44" href="http://viewer.zmags.com/publication/9c5986ae?page=44">long as the proper procedures discussed aboveare</a> long as the proper procedures discussed aboveare<a title="The CPA Journal - September 2008 page 45" href="http://viewer.zmags.com/publication/9c5986ae?page=45">the full-time requirement, and the right ofthe e</a> the full-time requirement, and the right ofthe e<a title="The CPA Journal - September 2008 page 46" href="http://viewer.zmags.com/publication/9c5986ae?page=46">■ The expenses must have a business con-nectio</a> ■ The expenses must have a business con-nectio<a title="The CPA Journal - September 2008 page 47" href="http://viewer.zmags.com/publication/9c5986ae?page=47">by the IRS. Bennett's 2002 ministerialincome was</a> by the IRS. Bennett's 2002 ministerialincome was<a title="The CPA Journal - September 2008 page 48" href="http://viewer.zmags.com/publication/9c5986ae?page=48">T AXATIONestate planningLife Insura</a> T AXATIONestate planningLife Insura<a title="The CPA Journal - September 2008 page 49" href="http://viewer.zmags.com/publication/9c5986ae?page=49"> director, a highly compensated employ- ee,</a> director, a highly compensated employ- ee,<a title="The CPA Journal - September 2008 page 50" href="http://viewer.zmags.com/publication/9c5986ae?page=50">F INANCEpersonal financial planning</a> F INANCEpersonal financial planning<a title="The CPA Journal - September 2008 page 51" href="http://viewer.zmags.com/publication/9c5986ae?page=51">receiving benefits and that he will wait untilhe</a> receiving benefits and that he will wait untilhe<a title="The CPA Journal - September 2008 page 52" href="http://viewer.zmags.com/publication/9c5986ae?page=52">der. As a general rule, because the averagewoman</a> der. As a general rule, because the averagewoman<a title="The CPA Journal - September 2008 page 53" href="http://viewer.zmags.com/publication/9c5986ae?page=53">added to the amount that must be returned,howeve</a> added to the amount that must be returned,howeve<a title="The CPA Journal - September 2008 page 54" href="http://viewer.zmags.com/publication/9c5986ae?page=54">M ANAGEMENTpractice managementInte</a> M ANAGEMENTpractice managementInte<a title="The CPA Journal - September 2008 page 55" href="http://viewer.zmags.com/publication/9c5986ae?page=55">ket seemed to applaud those companiesthat were “</a> ket seemed to applaud those companiesthat were “<a title="The CPA Journal - September 2008 page 56" href="http://viewer.zmags.com/publication/9c5986ae?page=56">ing. With the implementation of SASs104–111 (com</a> ing. With the implementation of SASs104–111 (com<a title="The CPA Journal - September 2008 page 57" href="http://viewer.zmags.com/publication/9c5986ae?page=57">AIG Elite Global PlusSM and AIG Elite Global Survi</a> AIG Elite Global PlusSM and AIG Elite Global Survi<a title="The CPA Journal - September 2008 page 58" href="http://viewer.zmags.com/publication/9c5986ae?page=58">M ANAGEMENTmanagement toolsThe Imp</a> M ANAGEMENTmanagement toolsThe Imp<a title="The CPA Journal - September 2008 page 59" href="http://viewer.zmags.com/publication/9c5986ae?page=59">Discussion Recognition of these factors is th</a> Discussion Recognition of these factors is th<a title="The CPA Journal - September 2008 page 60" href="http://viewer.zmags.com/publication/9c5986ae?page=60">determine whether they have been accu-rately und</a> determine whether they have been accu-rately und<a title="The CPA Journal - September 2008 page 61" href="http://viewer.zmags.com/publication/9c5986ae?page=61">the recipients to determine if pertinentdata wer</a> the recipients to determine if pertinentdata wer<a title="The CPA Journal - September 2008 page 62" href="http://viewer.zmags.com/publication/9c5986ae?page=62">R ESPONSIBILITIES & LEADERSHIPeducation</a> R ESPONSIBILITIES & LEADERSHIPeducation<a title="The CPA Journal - September 2008 page 63" href="http://viewer.zmags.com/publication/9c5986ae?page=63">cult to implement, because courses arealready pa</a> cult to implement, because courses arealready pa<a title="The CPA Journal - September 2008 page 64" href="http://viewer.zmags.com/publication/9c5986ae?page=64">in international accounting courses. MostU.S. un</a> in international accounting courses. MostU.S. un<a title="The CPA Journal - September 2008 page 65" href="http://viewer.zmags.com/publication/9c5986ae?page=65">causes of international differences, where42% of</a> causes of international differences, where42% of<a title="The CPA Journal - September 2008 page 66" href="http://viewer.zmags.com/publication/9c5986ae?page=66">information systems, international treasury ca</a> information systems, international treasury ca<a title="The CPA Journal - September 2008 page 67" href="http://viewer.zmags.com/publication/9c5986ae?page=67">ing of international accounting were a lackof em</a> ing of international accounting were a lackof em<a title="The CPA Journal - September 2008 page 68" href="http://viewer.zmags.com/publication/9c5986ae?page=68">T ECHNOLOGYthe cpa and the computer</a> T ECHNOLOGYthe cpa and the computer<a title="The CPA Journal - September 2008 page 69" href="http://viewer.zmags.com/publication/9c5986ae?page=69"> Automating business process controls,includin</a> Automating business process controls,includin<a title="The CPA Journal - September 2008 page 70" href="http://viewer.zmags.com/publication/9c5986ae?page=70">tion and cutting-edge physical security con-trol</a> tion and cutting-edge physical security con-trol<a title="The CPA Journal - September 2008 page 71" href="http://viewer.zmags.com/publication/9c5986ae?page=71">Gramm-Leach-Bliley Act (GLBA) for finan-cial ins</a> Gramm-Leach-Bliley Act (GLBA) for finan-cial ins<a title="The CPA Journal - September 2008 page 72" href="http://viewer.zmags.com/publication/9c5986ae?page=72">mated link between the centralized HRsystem and </a> mated link between the centralized HRsystem and <a title="The CPA Journal - September 2008 page 73" href="http://viewer.zmags.com/publication/9c5986ae?page=73"> One strategy is to only apply auto-mated IAM </a> One strategy is to only apply auto-mated IAM <a title="The CPA Journal - September 2008 page 74" href="http://viewer.zmags.com/publication/9c5986ae?page=74">T ECHNOLOGYwhat to bookmarkWebsit</a> T ECHNOLOGYwhat to bookmarkWebsit<a title="The CPA Journal - September 2008 page 75" href="http://viewer.zmags.com/publication/9c5986ae?page=75">tages and disadvantages. A substantialsection on</a> tages and disadvantages. A substantialsection on<a title="The CPA Journal - September 2008 page 76" href="http://viewer.zmags.com/publication/9c5986ae?page=76">Classified PROFESSIONAL OPPORTUNITY l BUSINESS l </a> Classified PROFESSIONAL OPPORTUNITY l BUSINESS l <a title="The CPA Journal - September 2008 page 77" href="http://viewer.zmags.com/publication/9c5986ae?page=77"> CPA PRACTICESSales · Mergers · Va</a> CPA PRACTICESSales · Mergers · Va<a title="The CPA Journal - September 2008 page 78" href="http://viewer.zmags.com/publication/9c5986ae?page=78"> SALES TAX CONSULTANTSStewart Buxbaum, CPA,</a> SALES TAX CONSULTANTSStewart Buxbaum, CPA,<a title="The CPA Journal - September 2008 page 79" href="http://viewer.zmags.com/publication/9c5986ae?page=79"> CUSTOMIZED QUICKBOOKS SOLUTIONSFULL SERVIC</a> CUSTOMIZED QUICKBOOKS SOLUTIONSFULL SERVIC<a title="The CPA Journal - September 2008 page 80" href="http://viewer.zmags.com/publication/9c5986ae?page=80"> </a> <a title="The CPA Journal - September 2008 page 81" href="http://viewer.zmags.com/publication/9c5986ae?page=81">E CONOMIC & MARKET D ATAmonthly updat</a> E CONOMIC & MARKET D ATAmonthly updat<a title="The CPA Journal - September 2008 page 82" href="http://viewer.zmags.com/publication/9c5986ae?page=82">E DITORIALa message from the editor-in-chie</a> E DITORIALa message from the editor-in-chie<a title="The CPA Journal - September 2008 page 83" href="http://viewer.zmags.com/publication/9c5986ae?page=83"></a>