DOR-IPT One-Day Tax Seminar Overview 2009
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We attended the annual Institute for Professionals in Taxation (IPT) DOR one day session on November 20. Here are some highlights.
DOR is implementing a new integrated tax system called the "Georgia Tax Center" (GTC) which will connect the disparate systems, provide greater taxpayer service and aid in analyzing tax cheaters. Plans are to have the system rolled out in a year or so. They mentioned they already have over 90,000 leads for sales tax "review."
Tax credits discussed:
Job - eliminated one year wait/maintenance period
Retraining - $1,250 cap per employee per year. Eliminated credits for MS Office-type software such as Word, Excel, Access, and other similar "off-the-shelf" products.
Headquarters - has been re-defined as the new Quality Jobs Tax Credit, which applies to any company adding 50 or more "quality" (i.e., higher paying) jobs in a year.
Research - eliminated the positive net income requirement for the prior 3 years.
DOR has a good summary of 2009 legislation here.
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Give Your Clients a Process Attitude -- Part IV
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Last time we talked about Steps 2 and 3 of the Process Attitude, when we analyzed the impacts of planned process changes and evaluated all of the options. Now for Step 4.
You now have a finalized list of business process changes as well as implementation plans.
Step 4 is to train all affected employees and implement the process changes. First -- who should get trained? Everyone who could be affected or potentially affected. Remember in Step 3 when we analyzed impacts upstream, downstream, and cross-stream? Well, everyone who is involved in these processes should be trained at least from an overview perspective.
What kind of training? How can we do it? Depends on the role, of course. For in-depth, detailed training, the most likely method is in-person, hands-on, and extensive. On the other hand, if you are informing those cross-stream who are affected in smaller ways, then why not try video? The latest video technologies are surprisingly cheap and effective. Internet-based, short-duration, targeted training is often the most cost-effective method, and it can be produced in-house without very many technical skills!
So now everyone is trained. What now? Implement the process changes, coupled with a good system for measuring results. But don't stop there! Almost immediately we must get ready for Step 5 - Evaluate, and then Step 6 - Standardize and Search for New Opportunities.
We'll wrap up the Process Attitude steps next time. When we're through, you will have been introduced to a new methodology for maximizing the impact of most, if not all, new technology and process changes. Using the Process Attitude with your clientswill help forge an even better partnership between you, and could also help them get retraining or other tax credits!
Next time -- Give Your Clients a Process Attitude -- Part V.
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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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