23dec10

23Dec10
Volume 4, Number 23December 10, 2004www.gscpa.org
 
in this issue:
GSCPA Salutes the Military ? Volunteer to help
Tax Info
Year-Long GSCPA Blood Drive Launched in January
GSCPA Annual Tax Survey
Retirement Planning Counseling Critical for Employees
2005 Annual Convention
CPE News
Items to Note
 
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E-Sources, a resource for GSCPA members, provides timely information about issues affecting the accounting profession, educational opportunities, and special events. E-Sources is sent on the second and fourth Friday of each month.

To view the online version of this newsletter, please click here.


This issue of E-Sources is sponsored by:


Business Information That Works for Distributors and
Custom Manufacturing - a range of software products, superior
support, and custom enhancements for MAS 90.
 
  GSCPA Salutes the Military - Volunteer
to Help:
 
The GSCPA, in conjunction with the Georgia National Guard, is serving as a resource for the Guard's Family Assistance Centers throughout the state. In January, 4800 troops from the Georgia National Guard will be deployed. The families left behind will need assistance with financial and tax matters during this time. Be part of this effort to show our appreciation to these soldiers and their families. Volunteer for the GSCPA Military Assistance Program.

Tax Info:

Treasury and IRS Clarify Employment Tax Treatment of Payments Made on Signing or Cancellation of an Employment Contract - The Treasury Department and the IRS today published two revenue rulings clarifying that payments by employers to employees made in connection with employment contracts are to be treated as wages for purposes of FICA, FUTA and Federal income tax withholding.

IRS Simplifies Tax Deposit Rules for Small Businesses - The IRS announced it will increase the minimum threshold for Federal Unemployment Tax Act (FUTA) deposits, a move that will reduce burden for more than 4 million small businesses. Under the new rules effective Jan. 1, 2005, employers are required to make a quarterly deposit for unemployment taxes if the accumulated tax exceeds $500.

New Law Changes Car Donation Rules at End of Year - Donors should understand the way that the American Jobs Creation Act of 2004 will alter the rules for the contribution of used motor vehicles, boats, and planes to charities after Dec. 31, 2004.

Keep current on tax issues. Join the GSCPA Taxation Section
 
GSCPA Centennial Blood Drive Launches in January:


January 1, 2005 marks the beginning of the GSCPA's Centennial Celebration. The celebration will include various community service projects on the chapter level. On the state level, the GSCPA is working with the American Red Cross to donate 100 gallons of blood during the Centennial year. The first blood drive will be Friday, January 14 at the GSCPA offices from 8 a.m. - 1 p.m. The American Red Cross is offering the chance for a great travel package for all donors. For details, click here.
 
GSCPA Annual Tax Survey:

The GSCPA Taxation Section will hold its annual meetings with officials of the Atlanta IRS and the Georgia Department of Revenue in January 2005. These meetings give us the opportunity to present questions regarding practice issues and to work in cooperation with the IRS and the state to solve problems we may encounter. In preparation for these meetings, we annually ask our members to complete a questionnaire listing some of the issues that you would like raised. To complete the survey, please click here.

Financial Counseling Critical Component of Retirement Planning for Employees:

A new study conducted by Ernst & Young LLP and ExecuNet revealed that personalized financial counseling is critical to help employees effectively manage retirement planning. The survey of human resource and employee benefits professionals found that financial education alone is not enough to influence a change in employee behavior.
 
Annual Convention Relocates to Hilton Head:
 
We're moving our beach umbrellas to the Westin Resort at Hilton Head Island for the 2005 Annual Convention. Due to the recent hurricanes that hit the Grand Caymans, the GSCPA will celebrate the Centennial with sand between their toes? in South Carolina. Mark your calendars for June 26-29 and plan to join us for sun, fun, and a great celebration.

CPE News:

Key Into the Pulse of Healthcare Issues at the 2005 Healthcare
Conference (course no. 13010); February 18, 2005; Cobb Galleria Centre, Atlanta; early registration ends February 4, 2005. This year's Healthcare conference will have two general sessions in the morning followed by afternoon breakout sessions. Glen Reed, King & Spalding, Atlanta, will be back to provide the latest developments in Healthcare in his Legal Update. Brad Benton and Bill Hanna, KPMG, Atlanta, will look at the Next Phase for Sarbanes Oxley - Controls and How You Balance Risks and Controls with Business Improvement.. For program/registration, click here and choose the Healthcare Conference.

UPCOMING COURSES:
Real World Business Ethics: How Will You React?** (course #12087); December 30; GSCPA Training Center; Instructor: T.P. Hall; Fees: Member - $209 by 12/16, $259 after 12/16; Non-member - $249 by 12/16; $299 after 12/16. **Eligible for $30 per day discount to AICPA members.

Try a Different Slice of the (CPE) Pie: The GSCPA offers a variety of ways to meet your CPE requirements without leaving your office or home and in your timeframe. We now bring you Self Study CPE through IdentiRisk, Surgent, PASSOnline, and CPE4CPAs. We have also partnered with ACPEN and Society InSight to bring you informative web casts. You attend a web cast at a scheduled time, only you do it via a web page on your computer. Web casts include video and audio of the speakers, slides, and seminar handout materials - all on your computer.

The Georgia State Board of Accountancy has amended the rules for self study - the credit hours are now based on a 50 minute hour rather than a 100 minute hour. For more information, visit the Web Interactive/SelfStudy CPE page.

Want to plan ahead? For a view of courses offered over the next three weeks, click here.

Credits is now available online. For the current issue, click here.

CPA Referral Service ? As tax season approaches, more people are looking for CPAs. Be part of the GSCPA CPA Referral Service. Consumers can find firms by location, services, and industries. Questions? Email findcpa@gscpa.org or call Julie Anderson at 404-231-8676 ext. 2942.

Marketing and Tax Presentation Materials Available: Have presentation materials at hand when you are promoting your expertise to various audiences:

1) Tax Speech and PowerPoint entitled Tax Training Tips for 2004. For a free copy, contact Jamie Etzbach.

2) CPA Marketing Tool Kit - The tool kit contains print ads, brochures, speeches, the CPA logo with the new tagline, and other helpful resources. When prompted, enter username (cpamarketing) and password (toolkit1!).

Georgia Society of CPAs ~ Atlanta Financial Center ~ North Tower ~ Suite 400 ~ 3353 Peachtree Road NE ~ Atlanta, GA 30326