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Alpha-Mail 
The Tax Professional's Guide to Georgia Tax Credits, Courtesy of Alpharesults
Vol. II No. 1 January 2008
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Hello!
Welcome to Alpha-Mail, the monthly newsletter about Georgia tax credits for Georgia tax
professionals.
Why should you read Alpha-Mail? You will learn to recognize Georgia tax credit opportunities for your clients. You will have another reason to be proactive in your clients' tax planning. You will be able to answer more of your clients' questions about Georgia tax credits. And you will learn another way to add real value $$ to your client relationships.
In this month's issue, learn how to use Georgia's tax credits to build your client relationships. And, learn how the physicians in one practice saved a bunch of money on their state taxes! Also, we have Quick Updates about the new Job Tax Credit tier rankings and the newly-approved Job Tax Credit regulation. So thank you for reading Alpha-Mail -- please click reply to tell us what you think.
All the best, 
Dale Stapler Jim Tinsley
Alpharesults, LLC
P.S. You've received this email because you have a prior relationship with Jim, Dale, or Alpharesults (or all three!). Please accept our apologies if we've sent this to you in error. Click the "Safe Unsubscribe" link at the bottom of this email to be permanently removed from the list.
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Building Client Relationships With Tax Credits
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I make many presentations to CPA firms and GSCPA chapter meetings throughout Georgia about tax credits for Georgia businesses, and each time I make sure to encourage the CPAs to look at potential state tax credits from the client's perspective. I've found that when CPAs do that, they create added value in each client relationship.
Too often, tax credits get overlooked. And while one always gets in trouble for ignoring taxes, one almost never gets in trouble for ignoring tax credits.
Doing nothing seems like the rule. Yes, tax credits have been around for a long time, and they are easy to ignore, especially when it is so hard to get any information from the client in a timely manner. It's a wonder the returns get filed on time at all, and investigating the state's obscure and arcane tax credits could add to the confusion and delays.
But there is a great, often-overlooked opportunity hidden in these tax credits. It is the opportunity the CPA has to dig in and help the client. This opportunity can often result in large financial benefits to the client, and it almost always results in a strengthened client relationship for the CPA.
Think about all of the information you already have that could help! You have access to tax returns and financial statements. You also see changes in your client's business, such as building expansions, more cars in the parking lot, advertising for jobs in the local newspaper, new computer systems, and many other "clues." These are all signs of potential tax credits.
Some of the most obvious tax credit potential indicators include:
· Consulting fees or training expenses - Retraining Tax Credit
· Payroll expense increases - Job Tax Credit
· Fixed asset increases - Investment Tax Credit
With tax season approaching, now is the time to dig a little deeper. Don't just sit at your desk and wait for the client to give you their bare-minimum tax information! Step back and really look at how you can help your client be successful. Let them know that there may be "found money" in the activities they are already doing.
You can take the initiative -- pursue tax credits for your clients and build your relationships with them. They will always thank you for it.
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Physicians Save "A Bunch of Money" On Their State Taxes!
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Douglas Medical Specialists, in Douglas, Georgia, provides internal medicine and cardiology healthcare services. The three-physician practice strives to utilize the latest technological advances to help their 24 employees provide the highest quality care.
The practice was not aware of the potential to obtain the GA Retraining Tax Credit, even though they had recently implemented a new electronic medical records system and other new technologies that would potentially qualify for the credit.
"I was a little leery in the beginning," said Cindy McNeill, Practice Administrator, "and I was afraid it would take up too much of my time and require too much work."
After Alpharesults made her aware of the potential, Cindy checked with her CPA, and he was very supportive of the idea. After Steve Cowart, Alpharesults project manager, delivered the approved tax credit certificate from the state for over $18,000, Cindy said, "Now I know that the results were worth the effort."
"We're ready to do it again," said Cindy recently. In 2007, the practice purchased several new pieces of equipment and implemented a new software interface.
Good luck, Cindy, we hope your physicians can save a bunch of money on their state taxes again this year!
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Quick Updates
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The 2008 Job Tax Credit (JTC) tier rankings have been posted on the DCA website, and you can access them here.
The New JTC regulation has finally been adopted. The DCA board voted during a special meeting on 1/9/08, and we now officially have a new JTC regulation. Brian Williamson, Assistant Commissioner of the Department of Community Affairs (DCA), explained that the main issue was the definition of Business Enterprise. After nearly two years of public hearings, meetings, and extensive public comments, a new definition has been established. Also, instead of the previous joint DOR/DCA arrangement, the new rule assigns all eligibility and dispute determination to DCA. A small group of taxpayers who want more changes have agreed to wait until the legislature can address the issue, according to Brian. You can view the new rule here.
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Upcoming Alpharesults Events
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January 22, 2008 - GSCPA Valdosta Chapter presentation February 27, 2008 - GSCPA DeKalb Chapter presentation
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About Us
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Alpharesults has assembled a team with the specialized knowledge and approach required to obtain Georgia income tax credits. We are not a public accounting firm. Rather, our services complement those of public accounting firms and do not create conflicted loyalties, because our professionals do not perform attestation work or other external audit functions.
We focus on small to medium-sized businesses and work exclusively in Georgia with a wide variety of in-state and out-of-state accounting firms. For more information on our services, follow this link.
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