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February 9, 2010 |
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Have you taken a look at the ASCPA Key Person Network?
Sign Up Here
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Key Person Network |
ASCPA members have a voice at the state capitol that’s heard, thanks to our members. Legislators, leaders, and opinion makers open their doors to us, trust what we say and almost always respond favorably. By joining the Key Person Network your voice will be heard and you will impact your profession.
This program offers the ASCPA the ability to quickly reach out to CPA members when grassroots assistance is needed for immediate communications with Alabama Representatives, Alabama Senators and Alabama members of Congress. Joining the network is quick and simple. Please take a minute to click on the link and select legislators that you are associated with and are willing to communicate with when the ASCPA needs your voice on important issues. There are too many issues (legislation) facing business that we cannot ignore not only as it relates to our profession but also the many clients that we serve. Your participation is encouraged and greatly appreciated.
For more information about the Key Person Network, click here
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Legislative e-Zine |
Legislative e-Zine
by Bruce P. Ely, James E. Long, Jr., William T. Thistle, II
Last week, the Alabama Senate finally tapped the brakes on the $1 billion road bill, as a cloture motion fell one vote short, and the bill was carried over. This allowed the Senate to focus on other matters, notably SB 11, which would allow the State to accept a one-time federal payment of $100.5 million in exchange for expanding the categories of unemployment benefits. Many business groups are concerned that, if passed, this bill will result in a tax increase for many employers because more of their employees (e.g., part-time employees) will qualify for unemployment benefits and others will experience an extended benefit period. Indeed, the Alabama Department of Industrial Relations estimates an annual increase of 6,000 persons qualifying for unemployment benefits under this bill. Once the federal stimulus money is exhausted, there will likely be a tax increase required in order to continue to fund the expanded benefits. Businesses also fear that they will move into higher unemployment compensation experience brackets (i.e., another tax increase) because of the increased number of persons qualifying. We expect spirited debate over this bill in the coming weeks.
Login and read the full article by clicking here
If you have any questions about a particular bill discussed in this or prior columns, you should review the full text. It will be posted on our firm’s website for your easy access, by clicking here. Also, a detailed listing of the bill’s sponsors, along with its fiscal note (i.e., whether and how much revenue the bill is projected to raise or to cost the State), and its progress through each house can be found on the Legislature’s official website, called ALISON.
The Legislators' Tax Guide is available for download via the ASCPA website and the guide will be distributed to Alabama Legislators next Wednesday February 10th at a meet and greet at the Alabama Statehouse by ASCPA staff and the Legislators.
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ASCPA Women's Summit |
Women’s Summit
May 20, 2010
6 hours Other CPE
Wynfrey Hotel—Birmingham
Click here for more details
Back by popular demand! The ASCPA is ready to kick off its heels for the
2nd Annual Women's Summit.
Shine up your magnifying glass and dust off your trunk full of disguises to "Uncover Your Hidden Potential." The spy theme will play out in decor, topics and activities. Members will see the sassy fashion secret agents are wearing this year at the lunchtime fashion show and will also engage in a networking quest. Speakers will assist you in unleashing your inner Mata Hari or Nancy Drew.
NEW! Bring your co-workers with you to this event! We are offering a firm discount for two or more from the same firm. First person pays full registration fee and each additional registrant receives $15 off. Fill out the registration form and mail or fax it in to receive the discount.
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Important Message from ADOR |
E-Filing for Partnership/LLC Income Tax Returns
Tax Year 2009 Alabama Form 65 returns which report a negative amount on Schedule K-1, Part III, Line T (Other Separately Stated Business Items) or Line AA (Separately Stated Nonbusiness Items) cannot be filed electronically and are excluded from the Tax Year 2009 filing mandate required by Alabama Rule Number 810-3-28-.07, Alabama Requirements for Mandatory E-File of Original Partnership/Limited Liability Company Income Tax Returns.
For more information, click here:
http://www.ador.state.al.us/prac.html
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Nominate Your Favorite Educator |
Everyone has a favorite college or university instructor. Who was yours? Have they made a real impact on your life? Would you like them recognized at the 91st Annual Meeting on June 10? Here’s your chance to put the spotlight on that special mentor. Make a nomination for Outstanding Accounting Educator right now.
Designed to recognize college accounting educators distinguished for excellence in teaching and for active involvement in the accounting profession. The award has the dual function of extending profession-wide recognition to the recipient as well as promoting role models in academia.
Fill out the registration form below to nominate. All nominations are due by March 20.
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ASCPA 91st Annual Meeting |
It's Never Too Early to Plan Ahead
91st Annual Meeting
June 10, 2010
Cahaba Grand Conference Center, Birmingham
The sessions are all concurrent, so read closely to decide what you'd like to choose for the morning and in the afternoon.
Morning Sessions
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A |
2010 Accounting & Auditing Update |
Liz Gantnier, CPA of AICPA |
A&A |
B |
Young CPA Conference |
Panel discussion with Ernie Almonte, past AICPA Chair |
Other |
C |
Ethics in Turbulent Times - How the world is changing for financial managers |
John L. Daly, MBA, CPA, CMA, CPIM of Executive Education |
A&A |
Afternoon Sessions
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D |
IFRS for Small to Medium Entities |
John L. Daly, MBA, CPA, CMA, CPIM of Executive Education |
A&A |
E |
Partnership and S Corporation Tax Update and Planning Topics |
Carolyn R. Turnbull, CPA, MST of Moore Stephens Tiller, LLC |
Tax |
F |
Technology Update |
Tommy Stephens, CPA of
K2 Enterprises |
A&A |
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Blue-Ribbon Panel |
Blue-Ribbon Panel May Lead U.S. to Different Accounting Standards for Private Companies
The AICPA and the Financial Accounting Foundation (FAF), with support from the National Association of State Boards of Accountancy, have formed a blue-ribbon panel to explore the future of standard setting for private companies, including whether separate, standalone accounting standards for private companies are needed. The FAF is the parent organization of the Financial Accounting Standards Board (FASB). The panel is expected to make recommendations this fall.
Most of the recent discussions concerning financial reporting standards have centered on International Financial Reporting Standards (IFRS), specifically on whether the Securities and Exchange Commission (SEC) will endorse the proposed roadmap released under the previous administration that could lead to all U.S. public companies being required to use IFRS on a phased-in basis beginning as early as 2014. Yet even if the SEC eventually mandates the use of IFRS to replace U.S. generally accepted accounting principles (GAAP), the requirement would apply only to the approximately 15,000 public companies in the United States.
But what about the 29 million private companies that will continue using U.S. GAAP?
Read the full article, by clicking here
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Getting Married? |
Creative Ideas to Save on Your Wedding
Your wedding may be a year or more away but you're probably already aware that the big day can be expensive. Use the months leading up to the big day to budget and plan. Here are some tips to help ensure that money is the last thing on your mind
when you say "I do."
• Date: If you avoid planning your wedding on a Saturday, or during the months of June and August, vendors may be more accessible, and less expensive. Also keep in mind that brunch and lunch are less expensive than dinner.
• Location: Consider free locations to host your wedding, such as your home, a friend's home or a park. Additionally, your church or synagogue will likely be less expensive than commercial venues. Having the freedom to choose your own caterer or bring your own beverages can also be a great cost saver.
• Decorations: When it comes to the flowers and decorations, keep it simple! Try your local farmer's market, where you can choose from a wide variety of flowers that are grown locally and in season. Also consider working with local florists' programs at technical colleges or high schools to make your wedding a final project for a student.
• Invitations: Discount warehouses or online stationery stores may be an inexpensive option, since you generally get the same quality in exchange for a smaller selection. Or try getting a simple printed card and adding your own creative details.
Remember that the wedding only marks the beginning of a partnership that extends to your finances!
Read more financial tips on Couples & Marriage.
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Chapter News |
Upcoming chapter events...
Montgomery Tax Hotlines |
February 9 |
Mobile Tax Hotlines |
February 9 |
Birmingham Tax Hotlines |
February 11 |
Birmingham Chapter Meeting |
February 12 |
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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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