Presidents Message
January 1, 2010
By Susan Jacobson, CPA
 As the 2010 filing season gets under way, let’s not forget about the following new tax credits.
First-time Homebuyer Tax Credit
The American Recovery and Reinvestment Act of 2009 expands the $7,500 credit in effect for 2008 for taxpayers buying their first home. The amount of the credit increases to $8,000 for primary residences purchased between Jan. 1, 2009, and Nov. 30, 2009. Under the legislation, the previous requirement that the credit be repaid is waived after 36 months in the home. The credit starts to phase out for taxpayers with AGI above $75,000 for single filers and $150,000 for joint filers.
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Chapter News
Join us as James Kennedy, CPA discusses the new peer review standards—and how they affect you and your firm.
Date: Wednesday, Jan. 27
RSVP: Online
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The chapter’s Nominating Committee (Susan Jacobson, Patricia Krout and Tom Letus) nominated the following individuals to serve as 2010–11 officers and directors:
President: Patricia Krout
First Vice President: Gail Anikouchine
Second Vice President: Jeff Dottl
Secretary: Raj Acharya
Treasurer: Jason Janzen
Director: Yusuf Balogun
Director: Darcia Stebbens
Director: Jessica Johnson
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CalCPA News
Join your colleagues Jan. 20 for a visit to Sacramento to speak with your representatives about issues important to CPAs statewide.
Register or learn more about CPA Day at the Capitol online.
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This compliance assistance program will increase awareness and understanding about basic fiduciary responsibilities when operating a retirement plan. Among the topics covered: Understanding your plan and your responsibilities; avoiding prohibited transactions; common mistakes and IRS correction programs; and DOL Voluntary Correction Program.
Date: Thursday, Jan. 28
Time: 9:15 a.m.–4:30 p.m.
Location: Pasadena Public Library Auditorium; 285 E. Walnut St.; Pasadena
RSVP: By Jan. 18: Pat Humphlett (202) 693-8660 or humphlett.patricia@dol.gov
Info: Online
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Serving on a state committee gives you the opportunity to work with other professionals on projects that increase members’ technical knowledge; enhance the profession’s image; influence regulations and legislation; draw the best and brightest into accounting; and study the CPA’s role in local, national and global economies. Join a state committee and experience the many benefits, while building leadership skills and making valuable personal and business contacts.
Complete an application today. Committee assignments will be finalized in May.
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Submit a short video in one of six categories regarding CalCPA, client services, member benefits and financial literacy, and become eligible for awards of eight hours of free CPE. Student entries are eligible for a $250 scholarship. Complete rules and entry form are online.
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