Articles by Michael B Allmon

 

Michael B. Allmon has authored and been quoted in a number of professional articles and discussions on estate, gift, and income tax, as well as a wide variety of other financial planning topics. The title, summary, source and publishing date for these articles are listed below. Articles cited as legal authority are also noted. Mike was also featured on a podcast which can be downloaded from the “Podcasts” section of this page.

Permission is given to download these articles but not to republish them by any means or to profit from their sale.

Mike’s Published Articles:

• Risk Mitigation: What the Non-professional Fiduciary Should Know [PDF] (opens in new window) (California CPA Magazine, May 2024)
• Bucket List Estate Planning: An Accountant’s Perspective [PDF] (opens in new window) (California CPA Magazine, January/February 2024)
• Recession Protection: Strategies to Protect Small Businesses [PDF] (opens in new window) (California CPA Magazine, August 2023)
• Certain Uncertainty—Avoiding Traps for the Unwary [PDF] (opens in new window) (California CPA Magazine, August 2022)
• An Estate Planning Checklist for Clients [PDF] (opens in new window): (California CPA Magazine, April/May 2021) Experts from CalCPA’s Estate Planning Committee provide a detailed list of documents your clients need for effective estate transfer and tax planning.
• Asset Pouring [PDF] (opens in new window)—California Enacts a New Decanting Statute for Trusts (California CPA, January/February 2019)
• CPAs & Estate Planning- Should the CPA be Involved- and if so, how? [PDF] (opens in new window) (California CPA, March/April 2018)
• Tax Reform Impacts on Estate Planning [PDF] (opens in new window).
• “Preserving The Blessing of Wealth Through Estate Planning” [PDF] (opens in new window). (California CPA, November 2017)
• “Through the Green Visor” [PDF] (opens in new window) A Holistic Approach to Estate Planning. (California CPA, March/April 2017)
• “Trust Building” [PDF] (opens in new window) A CPA’s guide to serving as a client’s trustee. (California CPA, September 2016)
• “Making the Grade” [PDF] (opens in new window) Provides insight as to how CPAs can answer the common client question, “Is my money manager doing a good job?”
  (California CPA, August 2015)
• “Statement of the Future” (opens in new window) Addresses the new Statement on Standards for Accounting and Review No. 21 (SSARS 21), which clarifies and revises the existing standards for reviews, compilations and engagements by accountants in public practice who prepare financial statements for clients. (California CPA January/February 2015)
• Financing the Future: Retirement Planning Analysis: The Ultimate Financial Planning Tool [PDF] (opens in new window)Discusses and advises on various aspects of retirement planning. (Accountant [Oregon Society of CPA’s], November/December 2014 also California CPA, September 2014)
• Digital Assets- Modern, Practical Estate Planning Considerations [PDF] (opens in new window) Modern estate planning should include instructions as to digital assets.. (California CPA January/February 2014)
• Taxing Thoughts [PDF] (opens in new window) This article addresses the importance of conducting Estate Planning discussions with clients. (California CPA, March/April 2013)
• A CPAs Role in Estate Planning and Administration-A Practical ‘How To’ Guide [PDF] (opens in new window) (California CPA, August 2012)
• Interact – Social Media Guide for CPAs [PDF] (opens in new window) Evaluates techniques for utilizing the growing opportunities for CPAs and their firms in the world of social media.. (California Society of CPA’s Technology & Business Resource Guide, 2011 issue)
• Money Talks: Preparing Spouses to Deal with Financial Planning (opens in new window): Advises couples to engage in open communication about various financial matters in order to improve their relationship. (California CPA, July 2010)
• Estate Planning: Time for a Tuneup [PDF] (opens in new window) Discusses the importance of CPAs in the estate planning process. (Journal of Accountancy Magazine, January 2009 by the AICPA.)
• Changing Landscape: Are Aging Baby Boomers Ready for Retirement [PDF] (opens in new window) Discusses various methods of saving for retirement in a changing economic landscape. (California CPA, September 2008)
• Estate Planning 101: What Every CPA Should Know [PDF] (opens in new window) Outlines various caveats of estate planning and discuss helpful methods for applying federal estate tax rules. (California CPA, June 2008)
• FLP Litigation [PDF] (opens in new window): Discusses recent cases that affect Family Limited Partnerships, and guidance on how to administer an FLP. (California CPA, March 2006)
• CPA’s as Trust Protectors [PDF] (opens in new window) Describes the duties of trust protectors and how they can keep trusts up-to-date. Published in March 2007 Journal of Accountancy Magazine (opens in new window) by the AICPA.
• Rescuing Pension Rescue Plans: Dealing With the IRD Problem is More Difficult, But Still Workable [PDF] (opens in new window): Updates readers on this issue based on a February 2004 Revenue Ruling. (California CPA, August 2004)
• An 80% Tax Bracket? Beware the Hidden Tax Trap of IRD [PDF] (opens in new window): Discusses the possibility of extremely high estate and income taxes applicable to “income in respect of a decedent.” (California CPA, December 2003)
• FLP Audit Triggers: Family Limited Partnerships Raise Red Flags at IRS [PDF] (opens in new window): (California CPA, May 2002)
• Natural Fiduciaries [PDF] (opens in new window): Summarizes CPA skills and expertise that make CPAs a natural choice for fiduciary roles such as executor or trustee. (California CPA, November 2001)
• Extended Payout – IRS Eases Rules for Retirement Account Distributions [PDF] (opens in new window): Explains January 2001 tax changes to the rules regarding distributions from retirement plans (co-authored by Michael B. Allmon). (May 25, 2001 in the Los Angeles Daily Journal.
• It’s Impossible to Avoid Death, But You Might Avoid Taxes [PDF] (opens in new window): Michael discusses the proposed changes to the estate tax and suggests specific estate planning devices that should be utilized even if proposed estate tax changes become law. Published on August 2, 2000 in the San Francisco Chronicle. Published on July 28, 2000 in the East Bay Business Times (opens in new window)as Feds Should Separate Death and Taxes on Estates. Published on July 27, 2000 on Accountingweb.com (Internet site) as Separating Death and Taxes. Published in July 2000 issue of Accounting Web (opens in new window) as How Can I Avoid Estate Taxes for My Heirs?
• Should Clients Use a CUTMA Account to Save for their Children’s Education? [PDF] (opens in new window): Discusses the estate and financial implications of CUTMAs and alternatives to correct problems from the use of CUTMAs. Published in November 1999 Monthly Statement of California Society of CPAs.
• Family Limited Partnerships in Financial and Estate Planning [PDF] (opens in new window): Analyzes the use of entities in financial and estate planning. In 1999, this article was cited as legal authority by a California law book, CEB’s California Limited Liability Companies. Published on December 1994 in the California Business Law Practitioner.
• Planning for the Suddenly Wealthy [PDF] (opens in new window): Provides advice to those who acquire wealth suddenly from an advisor’s point of view. Published in the February/March 1989 edition of Practical Financial Planning.

Articles Mentioning Mike:

• Bloomberg Quote From Interview About Tax Reform (opens in new window). Published on Sep 29, 2017 in Bloomberg (opens in new window)
• Stressed Tax Preparers Find Relief in Mardi Gras, Massages (opens in new window). Published on Mar 13, 2013 in Bloomberg (opens in new window)
• When Your Tax Ship Comes In (opens in new window): Provides a summary of income tax and estate tax changes resulting from the Economic Growth and Tax Relief Reconciliation Act of 2001. Published on June 4, 2001 in the San Jose Mercury News.
• Tales of Tax Fraud Are a Hoot, but the Penalties Are No Joke (opens in new window): Includes a quote from Mike, describing an anecdote about unusual income tax deductions. Published in March 2004 issue of the Washington Post (opens in new window).
• Where There’s A Will, There Are Mistakes (opens in new window): Discusses common mistakes of estate planning. Published on January 8, 1996 in Business Week (opens in new window).
• Impact: Repeal Holds Out Little Benefit to Estates Under $4 Million (opens in new window): Estate Tax reform article for which Michael B. Allmon was interviewed. Published on July 15, 2000 in the San Jose Mercury News.
• Four Ways To Avoid Estate Planning Errors (opens in new window): Discusses practical estate planning tips. Published in December 1995 in Investor’s Business Daily.

Other:

• 2013 Tax on Net Investment Income Tips (opens in new window)
• Beach Business Bank Advertisement (opens in new window): Mike appears in a Beach Business Bank advertisement, as seen in The Daily Breeze throughout 2009 and 2010.
• 20 Common Estate Planning Mistakes to Avoid (opens in new window): Good pointers to make note of so these mistakes are not repeated.
• Breathe! (opens in new window): Mike offers insight into building strength and skill as a runner.

Podcasts:

• “Preparing for End of Life” (opens in new window)– In this audio interview with Bill Spaniel of the California Society of CPAs, Mike details his experiences with wills, living trusts, letters of instructions, and powers of attorney.
• October 2009 edition of the CalCPA Financial Empowerment podcast (opens in new window)