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A MESSAGE FROM THE NCSA PRESIDENTMARGIE STRIDER
The month of June is here as well as is the time of year for NCSA’s 68th Annual Convention. Chetola Resorts in Blowing Rock will be the location for the 2014-2015 Convention. I trust all of you have made plans to attend this event. Lots of fun things have been scheduled along with good food, fellowship, continuing education, our annual business session, luncheons, banquets, installation of new officers and board members as well as other activities. I would like for all of you to join me at this event. Rooms have sold out but there are lots of other places very close to Chetola Resorts’ property that have vacancies. If you need information on those, please call one of the convention committee members or Candace, and they can assist you with some places close to our convention site location. I want to see you all there. This year NSA’s President Marilyn M. Niwao and her husband John from Hawaii and District IV Governor Dave Rancourt and his wife Diana from Florida will join us. Come make our National guests feel welcomed. President Niwao will be installing our new officers and board of directors. I appreciate the warm welcome from each of the chapter officers and its membership that I have visited. We have a great group of people, and we all should pull together to keep NCSA active and prosperous. I have relied on some of you more than others and those special folks have made yourself available to me with your advice and wisdom. To those special people, I want to say thank you so very much for taking your time to talk with me, listen to me, and let me know you were there to support me no matter what. It takes us all, and we most certainly need everyone working together to have the best State Society possible. Forget about personal gain; it’s not all about you, it’s about “US”. It has been an honor and privilege to serve as President of NCSA 2014-2015. I appreciate all the support and trust our line officers, board members, and membership have given me. I know I could not have performed the duties of President without the strength and help from my Lord. I have asked Him for guidance in every decision I have made and will continue to do so in decisions in my future. I rely on the scripture Philippians 4:13 - “I can do all things through Christ who strengthens me.”... Without Jesus, nothing of value is possible! Every decision I have made has been based on my Christian convictions. I am the one that is responsible for what I do, no other, and I only have one to answer to for what I have done. I heard this on the radio just in the last few days and it made me stop and think, - “It’s not what I don’t understand when I read the Bible that bothers me, but, what I do understand and fail to do or heed.” WOW! It will soon be my time to step aside and let a new group of members take over the reins and hold our State society together and see that we continue long into the future as one of the best Organizations in our state. Best of luck to our new line officers, board members, committee chairs, and our total membership. It truly is up to each of us to do our very best no matter what, and it depends on every member not just our committee chairs, officers, or board members. Let’s move forward—! Margie H. Strider |
As another NCSA year comes to a close, your chapters are electing new officers and will be conducting installations soon. What are you doing to spread the word about your society? When you attend CPE classes or other events do you share your positive experiences with NCSA? Do you take time to attend your chapter meeting? If not, why not start now; our chapters are the roots of the society and where the most interaction among members takes place. Read on to see what our chapters have been doing recently.
Burlington
The Burlington Chapter met on Thursday, May 28th at Kimbers in Gibsonville. Seven chapter members and two guests were present for a roundtable discussion led by chapter president James L. Holmes. Items discussed included the recent IRS Data Breach in the Get Transcript application. The Burlington chapter normally meets on the 4th Thursday of each month. For more information about the Burlington chapter contact Jim Holmes atjholmes.acct@yahoo.com
Cape Fear
The Cape Fear chapter met on Monday, May 18th at The Brass Lantern in Dunn with 19 in attendance. NCSA’s NSA State Director Curt Lee discussed our right to practice as Accountants in North Carolina. The chapter will meet next on June 22nd in Fayetteville with James Upton as the speaker. The chapter normally meets the 1st Monday after the 15th each month. For more information contact Merry Arnett atmparnett@embarqmail.com
Central
The Central Chapter held their monthly meeting on Monday, May 18th at Sagebrush Steakhouse with 18 in attendance. The meeting topic was part 2 of Technology for Today’s Accountant led by NCSA President Elect Ron Powell. The next meeting will be on June 22, 2015 with topic and speak-er to be announced. Central Chapter meets on the 4th Monday of each month. For more information contact Kevin Robinson atkevrob@triad.rr.com
Charlotte
The Charlotte Chapter met on Thursday, May 28th at Captains Galley in Matthews. The chapter welcomed IRS Tax Specialist Evette Davis who presented some IRS General Tax Updates, including Identity Theft, Offers in Compromise, and Employment Tax issues. The Charlotte Chapter normally meets on the 4th Thursday of each month. For more information contact Louise Pistole atpistole9@windstream.net
Eastern
The Eastern Chapter met on Tuesday, May 26th at H & R Block in Greenville. NCSA President Elect Ron Powell presented Part II of Technology for Today’s Accountant. The Eastern chapter meets on the 4th Tuesday each month. For more information contact Ronald Powell atron@powellaccounting.com
Hickory
The Hickory Chapter met on Wednesday, May 27th at Abingdon Glen Village Clubhouse in Hickory. The speaker for this meeting was NSA and NCSA Past President Paul Bumgarner who led a presentation on How ACA affects Employers. The Hickory Chapter normally meets the last Mon-day of each month. For more information contact Susan Dale Moore atsusan@dalesaccounting.com
Piedmont
The Piedmont Chapter met on Thursday, May 28th for their annual Scholarship Fundraiser and Picnic at Fourth of July Park in Kernersville. NCSA President Elect Ron Powell was on hand to install new officers. The next meeting will be on June 25th at Sagebrush in Kernersville. Piedmont Chapter normally meets on the last Thursday of each month. For more information contact Carol Smith atclstaxes@bellsouth.net
Raleigh
The Raleigh Chapter met on Tuesday, May 26th at Manchesters on Leesville Rd in North Raleigh. NCSA Past President and Raleigh Chapter President Stephen Metelits, spoke on Tangible Property Regulations for Small Business to the 12 in attendance. The next meeting will be on July 28th with topic to be announced. The Raleigh Chapter meets on the 4th Tuesday of each month. For more information contact Stephen Metelits atmetelits@usa.net
Sandhills-Sanford
The Sandhills-Sanford Chapter met on Thursday, May 28th at Table on the Green in Pinehurst. James Upton spoke on Installment Payment Greements and Form 9465 to the seven members in attendance. The next meeting will be announced. For more information contact Mark Bouchier atmbouchier@mabaccounting.net
Western
The Western Chapter met on Tuesday, May 26th at the Gondolier Italian Restaurant. NCSA Past President J. R. Lawson spoke on Business Valuation and Dispositions. The next meeting will be on July 28th and include an installation of officers and a Form 1040-Schedule A presentation. For more information contact John McKinney atjohnm@accuraaccounting.com.
Wilmington
The Wilmington Chapter met on Thursday, May 28th at McAlister’s Deli with chapter President Marie Izzo speaking on Bookkeeping Essen-tials-Part I to the ten in attendance. The next meeting will be Monday, June 22nd when Marie Izzo will share part II of Bookkeeping Essentials-The Things Accountants need to teach their clients. Contact Chapter President Marie Izzo for more information atmarie@johnizzocpa.com
We cannot compile this report without your information. If you have news of your chapter or its members including pho-tos or interesting things that happened at your chapter meeting please email James Upton atjamesupton@rtmc.netor call (336) 873-7690.
In Notice 2015-38, the IRS listed the designated delivery services other than the postal service effective May 6. Only the specific delivery services can be used; FedEx and UPS are not designated with respect to any type of delivery ser-vice not enumerated in the following lists. Taxpayers are cautioned that merely because a delivery service is provided by FedEx or UPS, it does not mean that the service is designated for purposes of the timely filing/paying rules. BACK TO TOP OF PAGE
Rev. Proc. 2015-30 provides the inflation adjusted amounts for Health Savings Accounts (HSAs). For calendar 2016, the annual limitation on deductions for an individual with self-only coverage under a high deductible health plan is $3,350 and with family coverage is $6,750.
For calendar 2016, a "high deductible health plan" is defined as a health plan with an annual deductible that is not less than $1,300 for self-only coverage or $2,600 for family coverage, and the annual out-of-pocket expenses do not exceed $6,550 for self-only coverage or $13,100 for family coverage. BACK TO TOP OF PAGE
The IRS announced that it is returning all of the $116 test fees to those who took the RTRP examination. They are not doing this out of the goodness of their hearts, but because they lost the Loving suits and were found not to have the au-thority to test tax return preparers or require annual training.
Letter 5475, RTRP Notification Letter, is being sent to all of the test takers explaining the reasons for the refunds. Checks are being sent separately in June and July.
If you passed the test, you can keep the RTRP title, but it won't get you anywhere with the IRS. Beginning January 1, 2016, you need to participate in the Annual Filing Season Program. However, anyone who passed the RTRP test only needs to meet their original 15 hour continuing education requirement each year to obtain an Annual Filing Season Program-Record of Completion. BACK TO TOP OF PAGE
The NC Department of Revenue issued a notice about a privilege tax imposed on a white goods retailer at a flat rate for each new white good that is sold by the retailer at retail other than for a sale a state cannot tax constitutionally, a sale to the US government, and a sale for resale.. An excise tax is imposed on a new white good purchased outside the state for storage, use, or consumption in this state. The rate of the privilege tax and the excise tax is $3, which is in addition to all other taxes, for each new white good. White good is defined as including refrigerators, ranges, water heaters, freezers, unit air conditioners, washing machines, dishwashers, clothes driers, and other similar domestic and commercial large applianc-es. The word "sale" does not include lease or rental.
A real property contractor is the consumer of new white goods that the real property contractor installs or applies for others that become part of real property. As such, the real property contractor must pay the $3 White Goods Disposal Tax at the time of purchase.
The IRS announced that it will be notifying taxpayers after third parties gained unauthorized access to information on about 100,000 accounts though the "Get Transcript" on-line application. The IRS determined that unusual activity had taken place on the application, which indicates that unauthorized third parties had access to some accounts on the transcript application.
In this sophisticated effort, third parties succeeded in clearing a multi-step authentication process that required prior personal knowledge about the taxpayer, including Social Security information, date of birth, tax filing status, and street ad-dress before accessing IRS systems. The multi-layer process also requires an additional step where applicants must answer several personal identity verification questions that typically only are known only to the taxpayer.
The IRS temporarily shut down the Get Transcript application after an initial assessment identified questionable attempts were detected on the system in mid-May. The on-line application remains disabled until the IRS makes modifica-tions and further strengthens security for it. The matter is under continuing review by the Treasury Inspector General for Tax Administration and IRS offices including Criminal Investigation.
Carolinas Tax Professionals Forum By Eugenia Tabon
You need to register for the Carolinas Tax Professionals Forum. See the announcement attached to this issue of The Accountant. The cost is $100 for 16 hours of IRS approved CE. The forum is at the Hilton University at Charlotte where it was last year. The big difference is that it starts at 11 am on August 5, an earlier start that in previous years. It ends at noon on August 7. The Group Code is CTPF to get you the $110 room rate at the hotel. No meals are included. Seating is limited. BACK TO TOP OF PAGE
Where interesting facts and overheard stories are told.
Be careful what you say it might just show up here!
Recently I asked some of our members to share:
Do you have a good joke or story to share? What do you do in your spare time (that we all have plenty of....lol!)? Favorite place you have traveled and why? Favorite song/book/or movie and why? Do you have an interesting fact about yourself that no one knows? How long have you been a member of NCSA? What have you gotten out of your membership either at your local chapter or state level?
Mary Fuller has recently taken a trip to Myrtle Beach with her 2 daughters and their 2 daughters, ages 21 and 23, on the weekend that Tropical Storm Ana came in at Myrtle Beach. It rained most of the weekend, so they went Bridal Dress shopping (the 23 year old has recently gotten engaged and her cousin, the 21 year old, is her Maid of Honor). Mary said, “I thought she would never find the perfect dress she was looking for and the bridal party dresses at the beach, but she did. Needless to say, she ordered the dress and now has a reason to make another 'girls trip' to the beach. After all, she has to have it fitted, right!!” Good luck and congratulations to the Fuller family on the upcoming wedding!
James Upton has been traveling up and down the east coast recently with stops made at Blowing Rock to put final touches on the upcoming NCSA Convention. He also traveled to Southport with his girlfriend Laura Danford of High Point and the McNeill family to Carolina Beach for some fun in the sun!
Ron Powell shared that he enjoys researching his family ancestry in his spare time. His favorite place he has been is the Caribbean with its lovely weather and places to see. We all know he loves Star Trek but did you know his favorite book is Star Trek: Into Darkness as it provides a good story line for the re-booted movie series and great humor. Kirk and Spock are a team once again! An interesting fact that he shared was that he was Leonard Nimoy’s (Spock) body guard for two days at a Star Trek Convention in St Louis, MO. “It was great fun, no one ever found out where his room was, and I was able to get to know him a little. It was sad to hear of his passing recently.” He has been a member of NCSA for 19 years and counting! Best benefit he says has been the networking with members who have helped him grow as an accountant and provided assistance when needed and to know that they are all just a phone call away.
BACK TO TOP OF PAGEMail To Candace Cansler NCSA Executive Director Post Office Box 1126 Conover, North Carolina 28613 |
