August 2011

President’s Message –
Cathy Lorenz
At GHD, client satisfaction is our top priority. We take your continued satisfaction and loyalty toward our firm so seriously that we closed our office for an all day workshop last month so that our entire company could focus on client service and satisfaction opportunities.
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Team News
GHD welcomes Derek Wiggins and Ryan Hatfield to our team!
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Out & About
Steve Guarini recently delivered a presentation on Current Issues in Not For Profit Accounting and Taxation both as a live event to a national audience in Chicago and as a webinar.
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Doctor Perspectives
GHD has a separate newsletter that addresses issues and news of interest to doctors and others in the medical profession.
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Look into the benefits of a solo 401(k)
Have you heard about solo 401(k) plans? The traditional type of 401(k) retirement plan is now available for self-employed individuals.
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What's New: IRS increases mileage rates
The IRS has increased the standard mileage rates to be used for computing the deductible costs of operating a vehicle for business or for driving for medical or moving reasons.
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Michigan Treasury Mails Nearly 20,000 Adjustment Letters
The Michigan Department of Treasury Projects Unit mailed 19,679 Notice of Proposed Income Tax Adjustments to taxpayers for the CP2000 (unreported income) match program for the 2007 tax year.
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IRS Releases Guidance Regarding First-Year Bonus Depreciation
The IRS has issued some much needed guidance on how the new business depreciation tax breaks work and the options available to taxpayers. (IRS Revenue Procedure 2011-26)
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Important Deadline Is Getting Closer For Qualified Small Business Stock
Gains from selling qualified small business stock (QSBS) issued between now and year end are eligible for a zero (0) percent federal income tax rate.
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Appeals Court Case Limits SOX Whistleblowers
In a recent case that surprised many legal pundits, the Ninth Circuit Court of Appeals ruled that the "whistleblower" provisions of the Sarbanes-Oxley Act (commonly called SOX) do not protect employees who leak information to the news media.
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Non-Profit News:
Is Your Organization a Beneficiary of a Perpetual Trust?

A perpetual trust is a trust created by a donor to be administered by a third party, with a non-profit organization named as an irrevocable beneficiary of the trust’s income in perpetuity.
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