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The IRS advises teachers and other educators to save their receipts for books and other classroom supplies. They will be able to deduct up to $250 of such expenses again this year, following recently-enacted legislation. The Working Families Tax Relief Act of 2004 reinstated the educator expense deduction for both 2004 and 2005. Expenses incurred any time this year may qualify for the deduction, not just those since the Act was signed on October 4.
Tax Speech and PowerPoint Available - Market your tax expertise with a tax speech and PowerPoint presentation, entitled Tax Training Tips for 2004. The materials include tax-planning considerations such as Health Savings Accounts; family, homeowner, and education related tax strategies; investment strategies; and tax breaks for small business owners. For a free copy, contact Jamie Etzbach.
Keep current on tax issues. Join the GSCPA Taxation Section
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American Jobs Creation Act:
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| The GSCPA is offering several opportunities for you to get up-to-date information on the new American Jobs Creation Act. Check the CPE information in this issue. |
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PCAOB Guidance on Auditing of Internal Control:
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The PCAOB published additional guidance regarding the auditing of internal control over financial reporting. The guidance can be found on the PCAOB’s web site. In addition, the SEC has updated their FAQs on the same subject. |
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Check Clearing Act for the 21st Century:
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The Check Clearing for the 21st Century Act (Check 21 Act), enacted on October 28, 2003, becomes effective on October 28, 2004. The intent of the Act is to streamline check processing by enabling the electronic processing of checks. The Act provides for voluntary check truncation in the clearing process and authorizes that a "substitute check," or a paper reproduction that contains an image of the front and back of the original check, can be processed just like the original check and is the legal equivalent of the original check.
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The GSCPA is offering several opportunities for you to get information on the Working Families Tax Relief Act of 2004 and the American Jobs Creations Act of 2004 through the Tax Forums, Don Farmer, and webcasts.
| The 2004 Tax Forum - A New Perspective
16.5 hours CPE (including 3 hours A&A); optional 2 hours early morning CPE credit (including 1 hour A&A on Day Two) 7-7:50 a.m. NEW - Select breakout sessions that are designed for your level of experience, on practical or theoretical topics. General Sessions on Day One: Tom Ochsenschlager – Current Federal Tax Developments, including information regarding the Working Families Tax Relief Act of 2004 and the American Jobs Creation Act of 2004. Colin Blalock - Getting You and Your Client OUT of Penalties. |
Atlanta Forum: November 3-4 - Early Registration Ends October 27
Savannah Forum: December 2-3 - Early Registration Ends November 11.
To register, click here and choose the Tax Forum.
Don Farmer 2004 Tax Update; Macon – Nov. 11 (course no. 11033), Albany – Nov. 12 SOLD OUT; Duluth – Dec. 2 (course no. 12027); Atlanta - December 13 (course no. 12054). All seminars will provide a complete outline of the changes made by the Working Families Tax Relief Act of 2004 and the American Jobs Creation Act of 2004. All relevant provisions will be covered. For details regarding these two tax acts click here.Prepare for tax season with Don Farmer as he presents 2004 Tax Season Review for Individuals (course no. 12064) on December 14. Walter Nunnallee presents 2004 Tax Season Review for Corporations/Businesses (course no. 12068) on December 15. Both courses will be held at the Cobb Galleria. 
Featured Web Casts- Presented By Society Insight
Working Families Tax Relief Act of 2004 & American Job Creation Act of 2004; November 2, 2004;
3-5 p.m. (EST); cost - $79.95; 2 hrs. CPE. This course will cover the significant provision of these new tax acts. The Working Families Tax Relief Act of 2004 was signed into law on October 4, 2004. The American Jobs Creation Act of 2004 is expected to be signed in the coming weeks. |
| 2004 Governmental A&A Conference- Take the Leap
(course no. 13070) qualifies for 8 hours credit under GAO guidelines; December 6; Cobb Galleria Centre. Karl Johnson, with GASB, will present an extensive update on government issues. Myra Byrd with the Carl Vinson Institute in Athens will give tips to plan the interview in a government audit to include questions regarding SAS 99. Other topics include: detecting fraud in government; workpaper documentation, materiality and independence; and risk assessment. Early registration ends November 15.
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For a complete program schedule/registration, visit the conference page and choose the Governmental A&A Conference.
Want to plan ahead?Click here for a quick view of courses offered over the next three weeks.
Credits is now available online. To view the most recent issue, please click here. |
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October 22, 2004
