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Alpha-Mail 
The Tax Professional's Guide to Georgia Tax Credits, Courtesy of Alpharesults
Vol. IV No. 8 August 2010
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Hello!
Welcome to Alpha-Mail, the monthly newsletter about Georgia tax credits for Georgia tax professionals.
This month, you'll learn what to do before your clients ask you about tax credits. Also, find out how the Retraining Tax Credit is helping to create jobs. And FYI, please note the remaining dates for you to attend a state tax reform public meeting. We hope you can use this information to strengthen your client relationships! Thank you for reading Alpha-Mail -- please click reply to tell us what you think. All the best,
Dale Stapler Jim Tinsley
Alpharesults, LLC
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Tell your clients about tax credits -- so they won't have to ask!
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We
got great feedback from last month's article about "Why didn't my CPA tell me
about tax credits" (click here). You sent us comments and concerns about engagement letters, law suits, being too busy
and not knowing what to look for.
How can you find out if they can utilize tax credits? With tens or hundreds of corporate clients, you have a hard time keeping up with them all. Bottom line: most of the Georgia tax credits are for companies that are
investing in themselves. This includes adding jobs, expanding, moving, implementing new software, and many other activities. One way or another, all of these investments show up on
the accounting and tax related documents that your client provides to you.
Some
CPA firms have incorporated data mining IT tools to analyze these documents
(such as flagging any clients whose capital assets increased more than $100,000
year-to-year). Others visit their
clients on site to pick up these documents and spend time talking
with their clients about their business. Still others rely on "opt in" check boxes in their client communications -- not very effective if the client doesn't already understand tax credit opportunities!
We are hearing more and more recently that clients are shopping all of their professional service providers
- including CPA services. Make sure your clients know about your value by
letting them know that you are doing more that just keeping them compliant - you are
trying to help them save money with tax credits!
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Retraining Tax Credit Helps Create Jobs
------------------------------------------------------------------------- We
recently met with Glenn Rasco, Vice President of Economic Development at Chattahoochee
Tech (click here) to ask him about the Retraining Tax Credit and its benefits in his service
area.
He
told us about a recent situation where a consultant was helping a large
employer with their Retraining Tax Credit. The consultant invited Glenn to meet
with him and his client to discuss the tax credit as well as offerings provided
by the technical college.
During the meeting, an
executive mentioned his difficulty in finding qualified
technical candidates for job openings that were planned as part of a large
customer order. He was concerned that this difficulty could impact their ability
to meet customer demand and limit the number of jobs his facility could
create.
Glenn
jumped right in, describing the school's ability to design a customized
candidate training program for the employer. It was a no-brainer! The executive agreed to move forward with Glenn's
ideas.
To
make a long story short - Glenn's team designed the candidate training program, marshaled
the school's resources, and recently started the training. The employer is now assured of a ready pool of qualified technical candidates and can confidently take on the new customer order -- all because they met with Glenn about the Retraining Tax Credit. This is what economic development incentives are supposed to do!
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Quick Update -- Legislation
------------------------------------------------------------------------- Special Council on Tax Reform and Fairness for Georgians to
Host Series of Fact Finding Sessions
This group is hosting a series of Fact Finding Sessions so
that Georgians can voice their opinions concerning the state's tax system. Sessions have already been held in Atlanta and Augusta. We
attended the Atlanta session and heard many opinions expressed.
REMAINING FACT FINDING SESSION SCHEDULE:
(All meetings from 4:00 PM to 7:00 PM)
August 31 - Savannah - Coastal Georgia Center, Auditorium
305 Fahm Street, Savannah, GA 31401 (912)651-2005
September 1 -Valdosta - Wiregrass Georgia Technical College,
Brooks Hall Conference Center
4089 Val Tech Road, Valdosta, GA 31602 (229)333-2100
September 2 - Macon - Macon State College, Professional
Sciences Conference Center, Banquet Hall
100 College Station Drive, Macon, GA 31206 (478)471-2700
September 7 -Rome - Forum Civic Center, Riverwalk Ballroom
2 Government Plaza, Rome, Georgia 30162 (706)291-5281; (800)858-7601
September 9 -Gainesville - Gainesville State College,
Gainesville Campus, Continuing Education, Business Division and Performing Arts
Building Auditorium
3820 Mundy Mill Road, Oakwood, GA 30566 (678)717-3639
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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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