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December 15, 2009 |
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We wish you
happy holidays
from our
house to yours
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Year-End Tax Tips |
Year-End Tax Tips
As the end of the year approaches, take some time to consider strategies that may help reduce your tax bill. Dust off last year’s tax return, put on your thinking cap and follow these tips to save on your year-end taxes:
• This year, Congress passed the Making Work Pay credit, which gave every worker a $290 tax credit. The IRS changed the withholding tables to accommodate this new credit so your actual tax liability may not match your withholdings, especially for a married couple. When you check if your withholdings are adequate, make sure you are not underwithholding an amount that could trigger the penalty.
• Check your potential alternative minimum tax (AMT) liability, as the AMT minimums don’t keep pace with inflation. Certain items, such as large medical expenses and large incentive stock options, can be triggers. Consult a tax professional if you think you’ll be subject to an AMT liability. If you've been close to being subject to the AMT in the past, it is critical that you review this before year end as there still may be time to take action.
• If you think you will be in a lower tax bracket in the future, consider delaying deductions. You can delay income by deferring compensation or bonuses and accelerate deductions by paying alimony or medical expenses early, or by pre-paying state income, real estate taxes or making charitable donations.
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ASCPA CPE |
ASCPA CPE 10,000 attendees strong this year!
Thanks to all our ASCPA members and associates who choose the ASCPA as your number one source for Continuing Professional Education.
We appreciate your support!
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January Tax Prep |
Ready for Tax Season? Register before the year ends.
Don’t forget relevant tax prep tips and timely guidelines, changes in current tax laws as you head into Tax Season!
1/5 |
Surgent McCoy's 2010 Top Tax Topics |
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1/6 |
Preparing Individual Tax Returns for New Staff and Para-Professionals |
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1/7 |
Complete Guide to Preparing LLC, Partnership,and S Corporation Federal Income Tax Returns |
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1/7 |
Surgent McCoy's 1040 Tax Season Survival Guide |
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1/12 |
Surgent McCoy's Limited Liability Company and Partnership Tax Return Preparation Workshop |
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1/12 |
Advanced Technical Tax Forms Training – Form 1040 Issues |
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1/13 |
Surgent McCoy's Guide to Understanding the Key Issues and Preparing S Corporation Tax Returns |
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1/13 |
Advanced Technical Tax Forms Training-LLCs, S Corporations, and Partnerships |
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To see our complete schedule for January 2010, visit our online catalog.
Click here
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CPA Firm Guide |
Wouldn’t it be great if there was a resource that helped unite eager job seekers with interested firms? The Alabama Society of CPAs is creating such a tool.
For the third year the Alabama Society of CPAs is publishing the Guide to Accounting Firms in Alabama. Inclusion in the guide is open to all firms in Alabama and we invite you to list your company. This book is used at all college-level student programs and is sent directly to all student and associate members as well as to university accounting departments. It is a smart, cost-effective way to market your firm.
The listing fee is $100; your firm will receive a full page in the guide. For $500 you can place a full page display ad opposite your firm listing page. Advertising opportunities are also available, see the advertising form enclosed.
Interested in participating? Contact Communications Coordinator Rachel Barwick at 800-227-1711 or rbarwick@ascpa.org.
View the 2009 Guide as a pdf through the website’s student resource page, www.ascpa.org.
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Volunteer Opportunity |
Self-Employment Tax Initiative Workshops
Back by Popular Demand!
In late summer the Alabama Society was approached about a new financial education program to assist small business owners and sole proprietor in preparing Schedule C documents for filing with the IRS. You volunteered in November and early December to be a part of this program in Birmingham, and now other communities are asking for your help! We have more opportunities available now, so sign up today.
Here is a link for some background on Self-Employment Tax Initiative (SETI), and a list of the scheduled dates coming up.
More information
Organization |
Address |
Session Dates |
Session Time |
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200 Vaughan Lane
Pell City, AL 35125 |
December 16 |
11:00am-1:00pm |
Childcare Resources |
1904 1st Ave. N #300
Birmingham, AL 35203
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December 18 |
9:00am-11:00am |
South Shelby Chamber of Commerce |
208 E College Street
Columbiana, AL 35051
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December 17 |
10:00am-12:00pm |
If you would like to volunteer, contact Judy Allen
phone: 205.458.2088
email: jallen@uwca.org
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2010 CPE Conferences |
Save the date for your favorite CPE events
Women's Summit |
May 20 |
91st Annual Meeting |
June 10 |
Sandestin Conference |
July 25 - 29 |
Technology & Productivity Conference for Accountants |
August 26 - 27 |
Financial Accounting & Auditing Conference |
September 24 |
Annual Federal Tax Clinic |
November 18 - 19 |
Governmental Accounting & Auditing Forum |
December 1 - 2 |
Also, stay tuned for more information on the updated
Industry Conference and the new Young CPA Conference
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Chapter News |
Upcoming chapter events...
| North Alabama Holiday Dinner Party |
December 15 |
| Southeast Chapter Christmas Party |
December 16 |
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About the ASCPA
The Alabama Society of Certified Public Accountants [ASCPA] is the statewide, professional membership organization representing over 6,500 Alabama CPAs in public practice, industry, government and education. Eleven chapters, various committees and task force groups made up of CPA volunteers develop programs and address issues to help all members be successful professionals. Visit www.ascpa.org
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© 2009 Alabama Society of CPAs | PO Box 242987 | Montgomery, AL 36124 |
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