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Tax Info :
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The Department of Revenue has recently proposed two new regulations. One is in relation to with Withholding and the other deals with Electronic Funds Transfer.
The IRS and Treasury Department issued a notice to advise taxpayers that the IRS intends to disallow improper deductions for charitable contributions of patents and other intellectual property. Taxpayers claiming improper deductions may be subject to penalties. Promoters and appraisers also may be subject to penalties. For details, please visit the IRS web site.
The IRS reminds tax-exempt organizations that their public advocacy activity must adhere to tax rules as well as campaign-finance laws. In this election year, the IRS has issued Revenue Ruling 2004-6 concerning certain public advocacy activities conducted by social welfare organizations, unions and trade associations.
Keep current on tax issues by joining the GSCPA Taxation Section.
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Business Valuation Workshop:
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Nationally recognized valuation authority James R. Hitchner, CPA/ABV, ASA, of The Financial Valuation Group in Atlanta, will present a full-day workshop centered on a case study valuing a closely held business on Jan. 28 at the GSCPA Training Center (course no. 01702). He will present the steps necessary to perform a credible business valuation. Topics will include: Whether to tax affect S-Corps; Recent success of IRS attacks on discounts; Use and misuse of Ibbotson data; Methods to separate personal and practice goodwill in divorce; and more. For beginners or advanced practitioners, this workshop will enhance your understanding of business valuation. |
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Volunteers Needed for Special Olympics Georgia:
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The CPAs in Industry Section and Young CPAs Committee will be teaming up with Special Olympics Georgia to assist with the 2004 Special Olympics Georgia Winter Games. The Games will be held Jan. 23-25, 2004 in Cobb County. This annual competition will include 1,400 Special Olympics athletes from across the state. Join us and other volunteers to assist with the Opening Ceremony and competition venues. | Technology Update: | |
"Call Attention" Milwaukee Journal Sentinel (12/21/03), p. 1D; Jason Gertzen. Voice over Internet protocol, or VoIP, is an inexpensive technology that allows businesses to make phone calls over the Internet and save money on phone service, equipment, and maintenance. With VoIP, users can even make video conference calls through their laptops. The ability to forward non-priority voice mails to email inboxes and transfer priority calls to cell phones and other locations enhances productivity. This update is sponsored by Information, Inc.
Keep current on IT issues and developments by joining the GSCPA Information Technology Section. |
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High School Students Get a Taste of Accounting:
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The GSCPA is hosting two High School Residency Programs (HSRP): June 27-30 at Georgia Southern University and July 25-28 at the University of Georgia. This is a three-day residency program that introduces students to the accounting profession. If you know any rising juniors, rising seniors, or 2004 high school graduates who would be interested in applying for the program, please submit their name(s) to Julie Anderson or call 404-504-2942 for an application. The program is FREE. |
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Email Guidelines :
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New email marketing legislation went into effect January 1, 2004, which details what businesses need to include in their e-marketing to stay within the law, and not have their messages misunderstood as SPAM. By April 30, 2004, all businesses that send out e-marketing campaigns must include the following in each marketing email:
> Include an “unsubscribe” mechanism
> Include a valid postal mailing address
> Remove all unsubscribed email addresses from your list within 10 days of the unsubscribe request
> Send a message to any email lists you have that may not have given you express consent to send them messages |
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January 9, 2004
