LogoSerotta Maddocks Evans, CPAs

701 Greene Street, Suite 200

Augusta, GA 30901

706.722.5337

www.smecpa.com

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February 2011:  Don't Miss This Deduction!
Dear ,

With tax season in full-swing, who isn't looking for a deduction?  Did you know that for 2010, there is no phase-out on itemized deductions and personal exemptions, regardless of your adjusted gross income?

Since 2006, taxpayers have been subject to a reduction in the value of itemized deductions and personal exemptions.  This means that you didn't get the full benefit of itemized deductions such as mortgage interest, state and local taxes, charitable contributions, and miscellaneous deductions if your income (before deductions) is above specified amounts. The limitation amounts varied by year. If you have high itemized deductions, this can be quite a penalty on top of the tax rates.

For 2010, the overall limit expired but under the current law, the limit on itemized deductions will resume in 2011 at pre-2006 levels.  So, the one-year repeal could mean tax savings for you.  Call an SME tax professional to discuss this and other ways you could benefit.

-Margie Ballard

Director   

 

In This Issue
Eggs & Experts
Technology Tip by Sharon Bragg
Marketing Tip by Jessica Neville
Tax Tip by Jay Sanders [Right hand column]
Upcoming Events [Right-hand Column]

    

Short, concise and valuable advice from expert professionals can boost your bottom line and help you navigate a myriad of business issues. These "over easy" style sessions are guaranteed to give you easy answers. Each session is held on the second Tuesday of the month from 7:30am-9:00am in the training room of SME CPAs.

 

On March 8th, Greg Baker, President of Computer Masters of Augusta will discuss the advantages and disadvantages of cloud computing.  Cloud computing is an internet based technology model that provides shared resources, software and information to users on an as needed basis. The model is growing in popularity with revenues from cloud services expected to exceed $68 billion in 2010. With the growing success of cloud computing, businesses are exploring opportunities to increase productivity and reduce operating expenses. During this presentation, we will discuss the many potential benefits of cloud computing. The different components of a cloud service will be described, and approaches for integrating the cloud into your business will be presented.

 

If you would like more informaiton about moving into the cloud, you do not want to miss this presentation.  Sign up by calling or emailing the Augusta Metro Chamber of Commerce:  tcarroll@augustagausa.com or 706.821.1300.

Technology Tip from Sharon Bragg

IRS on your Phone?

 

Yes, the IRS has unveiled IRS2Go.  It is a free smartphone application that lets taxpayers check on the status of their tax refund and obtain other helpful tax information from their iPhone or Android.  The app is available to iPhone users through the Apple App Store.  Android users can download the app from the Android Marketplace.  Features currently include:  Checking Refund Status, Getting Tax Updates, and Signing up to Follow the IRS on Twitter.  The IRS looks at this as a first step in using new technologies to help meet the needs of taxpayers. 

 

 

Marketing Tip from Jessica Neville
You only have one chance to make a first impression.   

 

This statement is not only true to individuals,  but to businesses and organizations as well.  It is important to take a step back and look at your business from the outside in.  Read your brochure.  Does it send the right message?  Visit your own website.  Does it make you want to pick up the phone and schedule an appointment?   These aspects are often overlooked, but they could very well be the first point of contact that someone has with your company. 

  

After your prospect has seen your marketing material and knows what you offer, hopefully they will make an appointment or visit your office.  Once you have them in the door, you want to go out of your way to make sure they are impressed and decide to do business with you.  When the prospect walks in the door, how are they greeted or approached?  That is where the more obvious source of first impressions takes place: the personal contact from your secretary or administrative staff.  Think about your experiences at other offices and assess your company's first impression by asking questions like, Is my secretary appropriately dressed at all times?  Does he or she sound cheerful on the phone and eager to help the caller?  Does my secretary approach all situations with a positive attitude? 

 

Take some time to view your company from your target clients' perspective and make sure your first impression is a good one.

 

Thanks for taking the time to read our newsletter.  Stay tuned for next month's tips and features.

Sincerely,
 
Serotta Maddocks Evans, CPAs
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Tax Tip


Jay Sanders gives some insight to the impacts of the
2010 Tax Relief Act.

Upcoming Events

 

Eggs & Experts

7:30-9:00am

Second Tuesday of every month in the

Training Room of SME CPAs

Short, concise and valuable advice from local professionals.  Sign up for
one or all sessions through the Augusta Metro Chamber of Commerce.