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Have practice questions, need some advice, or need a referral? The AAA-CPA proprietary listserv helps solve and identify problems for scores of members every day. The AAA-CPA Google Group listserv is a member benefit. Not a current member of the listserv? JOIN TODAY.

"The listserv alone makes membership in the AAA-CPA a bargain. Members of the AAA-CPA are a savvy group. When you have a question that you just cannot answer -- post it to the listserv. You will receive correct, thoughtful, and prompt responses from members, who in many instances were involved in the relevant case or advised Congress when the applicable law was passed.

One member commented, "If the answer to one question a year saves me one hour of unbillable research, I have paid for my AAA-CPA membership. And I ask many more questions than one a year."

One recent question posted to the listserv: "Same members have formed another LLC to buy $2 million worth of equipment before year end which will be financed and leased to operating LLC. New LLC is set up for liability protection. Client wants to take 179 deduction and bonus depreciation to generate large deduction to offset income from operating company. Issues: In order for new LLC to take 179 deduction, they must have income. What is operating LLC pays them up front rent for use of machinery? Non-corporate taxpayer can't take 179 deduction is it is just leasing equipment. We could have new LLC make S-election but then members do not get basis for loans. Therefore, they will have basis up to income but can't generate loss. Any thoughts?"

Within 24 hours this member had several responses back from members nationwide.

Disclaimer: This list is provided as a service of the American Association of Attorney-Certified Public Accountants. AAA-CPA accepts no responsibility for the opinions and information posted on this site by others. more

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