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RUBINO & McGEEHIN IS FIRM OF THE YEAR!
The Greater Washington Society of CPAs (GWSCPA) named Rubino & McGeehin the Firm of the the Year for 2010 at the Annual Meeting held on June 15, 2010.
Rubino & McGeehin received the award for strong support of GWSCPA over the last year but has been involved for much of its history. Three individuals from the Rubino & McGeehin personnel have served as President of the Board, and we have maintained a consistent presence on the Board of Governors. Rubino & McGeehin personnel have also served as chairs of the Membership Committee, served on the Scholarship Fund, and help to establish the Christmas in April/Rebuilding Together effort.
In addition, we have been heavily involved in the Not-for-Profit Organizations (NFPO) Committee and the NFPO Symposium. The Symposium has grown during recent years and now attracts over 500 participants a year. We have also been pivotal in the creation of www.nonprofitaccountingbasics.org through the Nonprofit Financial Accountability Task Force. The website is an educational portal to help smaller nonprofits properly manage all aspects of their finances.
GWSCPA is the state CPA society for the Washington, DC area with approximately 2,000 members from firms and industry. For more information about the GWSCPA, visit www.gwscpa.org.
Year-End Tax Strategies
The economic turmoil over the past year
has been painful, to say the least. The federal income tax
environment, however, is very favorable but not likely to stay
that way for long. Now is a good time to focus on last minute
tax strategies that might save you some money in the long run.
The ABCs of Deferred Compensation
A deferred compensation agreement is any plan or agreement in
which an employer promises to pay an amount to an employee at
some point in the future for past, present, or future services.
As a result, the compensation is generally paid after the
services are performed. This arrangement can provide an
additional incentive to attract or retain key employees.
Kiddie Tax Update
Now is a good time to
review the "kiddie tax" rules. We received surprised reactions
from several individuals when we informed them of the amount of
tax their "children" owed, and we realized that not everyone
were up-to-date on changes to the law. Several people still
believed that children over age 14 were exempt from "kiddie
tax." Not so.
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