Showing posts with label North Carolina CPA CPE. Show all posts
Showing posts with label North Carolina CPA CPE. Show all posts

8/5/15

The following is a culmination of more than 13 years of ongoing research that has provided a way to discover how to navigate what “is”, and offers a vehicle for others to find answers to questions they may or may not have thought of.

Insights have been accumulated while working as a financial advisor
and portfolio manager through The Asian Currency Crisis, Y2K, The Dot.com Bubble,
9/11, The Financial Crisis of 2008-9, and continue
as subsequent geopolitical, military, economic, fiscal and monetary events occur.

What you may think I'm thinking isn’t necessarily what I'm thinking.



George Hartzman

If most were to comprehend the “realities” of what may actually be,
as opposed to what most currently think is,
an entirely different set of counterintuitive circumstances could emerge.

Effectiveness through understanding could be exponential,
as long as most continue to not know what they could.

The quotes provide context to increase comprehension,
with the fewest words in the shortest time.

Format originally conceived
to conform to financial institution marketing compliance guidelines
to teach CPAs, attorneys and investors
economics, investment planning, philosophy and business ethics.

Writing style is kind of like poetry, only enigma cocooned in inquiry
surrounded by the random chaos of Socratic thought,
which is not supposed to be easy.

The end of all our exploring will be to arrive where we started
and know the place for the first time.



T. S. Eliot

If the present embodies the past and future,
rational analysis maximizes present accomplishment, and chances of success are better
for those who more accurately prognosticate the farthest into the future,
the who and why to find first is you,
before the when and how to achieve what for the longest time with the least risk.

The questions are puzzle pieces designed to initiate debate,
encourage independent verification and promote self examination.

People are usually more convinced by reasons they discovered themselves
than by those found by others.



Blaise Pascal

If what others think is true may not be what you do,
interpretations should differ.

12/17/12

Robert S. Keebler on "Charitable Remainder Trust and the 3.8% Medicare Surtax"

"The 3.8% Medicare surtax on net investment income is set to take effect on Jan. 1, 2013.

Charitable Remainder Trust and the 3.8% Medicare Surtax

Surtax etc... Chart/Table

On November 30, 2012, the US Treasury issued treasury regulations
addressing...the new 3.8% healthcare surtax.

...there are two urgent planning opportunities that are important to CPAs and their clients.

First, to the extent that income can be accelerated in 2012, this will save 3.8%.

For example, harvesting gains, triggering accrued interest, income and dividends,
accelerated rents and other royalties will all save on the surtax.

Likewise, deferring investment expenses into 2013
will provide an income tax deduction against the surtax, saving an extra 3.8%.

This savings does not include any savings that would occur
by virtue of any increase in the base tax rate.

...there is an urgent and immediate planning opportunity
for existing charitable remainder trusts.

A CRT is not taxed directly, but distributions from a CRT are taxed to beneficiaries
under ...section 664, often called the WIFO, W-I-F-O, worst-in, first-out method of accounting.

Distributions from charitable remainder trusts will be subject to a 3.8% surtax.

...distributions of net investment income from a CRT will be taxable to the beneficiaries.

...income that was realized and recognized prior to December 31, 2012
will be grandfathered from the surtax.

Deferring loss and expenses into 2013 will also reduce the tax burden on future distributions.

The action steps needed for a charitable remainder trust
are to harvest long-term capital gains in 2012,
accelerate interest, dividends and other income in 2012, defer harvesting losses into 2013,
and defer expenses into 2013.

By taking these important steps
you will likely reduce your clients’ future exposure to the 3.8% healthcare surtax.

On behalf of the PFP Division of the American Institute of Certified Public Accountants,
this has been Bob Keebler."

Robert S. Keebler, CPA, MST, DEP, Partner, Keebler & Associates, LLP

8/9/12

James T. Ahler - Registered Lobbyist, Matthew Eisley - Registered Lobbyist and B. Davis Horne, Jr. - Registered Lobbyist


Mr. James T. Ahler, CAE
NCACPA, Raleigh, NC

Jim Ahler, CAE,
is the CEO of the North Carolina Association of Certified Public Accountants.

Prior to joining NCACPA in 1988,
Jim served as executive director of the State Board of Accountancy
in Louisville, Kentucky.

While in Kentucky, Jim was active on various national committees
of the National Association of State Boards of Accountancy (NASBA).

He was also a consultant to NASBA
for strategic planning and committee management.

Jim is an active member of the Association Executives of North Carolina (AENC).

He is also active in the CPA Society Executives Association (CPA/SEA),
a national association of state CPA association executives.

Lobbyist Information...
Name: James T. Ahler 
Raleigh, NC 27623
Registered with these Principals...
Filings Term Status Firm Principal
2012 Active  North Carolina Association of CPAs 
2011 Active  North Carolina Association of CPAs
2010 Active North Carolina Association of CPAs
2009 Active North Carolina Association of CPAs
2008 Active  North Carolina Association of CPAs
2007 Active  North Carolina Association of CPAs
2005-2006 Active NC Assocaition of CPAs
2003-2004 Active NC Assocaition of CPAs
2001-2002 Active NC Assocaition of CPAs
1997-1998 Active NC Assocaition of CPAs ACPA, NC
1995-1996 Active NC Assocaition of CPAs
1993-1994 Active NC Assocaition of CPAs

http://www.secretary.state.nc.us/Lobbyists/Lobbyist.aspx?PId=8143885
.
.
.
Lobbyist Information...
Name: Matthew Eisley 
Raleigh, NC 27601-2611
Registered with these Principals...

2012 Active Nationwide Insurance & Affiliates
2012 Active North Carolina Association of CPAs 
2012 Active North Carolina Economic Development Group
2012 Active North Carolina Medical Society
2012 Active Waste Management Carolinas
2011 Active FMR LLC (Fidelity Investments)
2011 Active North Carolina Association of CPAs
2011 Active North Carolina Economic Development Group
2011 Active North Carolina Medical Society
2011 Active North Carolina Travel and Tourism Coalition
2010 Active Abbott Laboratories
.
.
.
Lobbyist Information...
Name: B. Davis Horne, Jr.
Raleigh, NC 27601-2611
Registered with these Principals...

2012 Active American International Group, Inc. 
2012 Active FMR LLC
2012 Active North Carolina Association of CPAs 
2012 Active North Carolina Economic Development Group
2012 Active North Carolina Financial Services Association 
2012 Active North Carolina Medical Society
2012 Active Waste Management Carolinas
2011 Active Abbott Laboratories
2011 Active American International Group, Inc. 
2011 Active Nationwide Insurance & Affiliates
2011 Active North Carolina Association of CPAs
2011 Active North Carolina Financial Services Association
2010 Active American International Group, Inc.

8/5/12

A few North Carolina CPA Rules

A CPA shall not knowingly violate any state or federal tax laws or regulations
in handling the ...business affairs of an employer or client...


A CPA shall not express an opinion that financial statements
are presented in conformity with generally accepted accounting principles
if such statements contain any departure from an accounting principle
which has a material effect on the statements taken as a whole...

21 NCAC 08N .0209 ACCOUNTING PRINCIPLES

A CPA shall not engage in deceptive conduct.

Deception includes fraud or misrepresentation and representations or omissions
which a CPA either knows or should know have a capacity or tendency to deceive.

Deceptive conduct is prohibited whether or not anyone has been actually deceived.

Prohibited conduct under this Section includes but is not limited to deception in:

...creating false or unjustified expectations of favorable results;

...falsifying a review, report, or any required program or checklist of any peer review program.

21 ncac 08n .0202 DECEPTIVE CONDUCT PROHIBITED

A CPA shall not engage in conduct discreditable to the accounting profession.

Discreditable conduct includes but is not limited to:

acts that reflect adversely on the CPA's honesty,
integrity, trustworthiness, good moral character, or fitness as a CPA in other respects;

21 ncac 08n .0203 DISCREDITABLE CONDUCT PROHIBITED

A CPA and CPA firm shall be responsible for assuring compliance with the rules
...by anyone who is the CPA's partner, fellow shareholder, member, officer, director,
licensed employee, unlicensed employee or agent or unlicensed principal,
or by anyone whom the CPA supervises.

A CPA or CPA firm shall not permit others
(including affiliated entities) to carry out on the CPA's behalf,
with or without compensation,
acts which if carried out by the CPA would be a violation of these Rules.

21 NCAC 08N .0103 RESPONSIBILITY FOR COMPLIANCE BY OTHERS