'Ask a CPA' scheduled Jan. 9 The South Dakota CPA Society is sponsoring "Ask a CPA," a call-in program to give people an opportunity to ask a CPA about business and personal tax matters, planning for year end, general business and accounting issues, referrals, etc. The event takes place Thursday, Jan. 9 from 6 to 10 p.m. No portion of "Ask A CPA" will be broadcast or taped in any way. Telephone lines will be tended to by certified public accountants that are members of the South Dakota CPA Society.
Congress continues to change the tax laws and continued phase ins provide additional benefits. The Tax Relief Reconciliation Act of 2001 passed the largest tax reduction in the last 20 years with 85 major provisions and 441 Internal Revenue Code changes with many of these changes taking effect for the 2002 tax year.
Some of the key provisions in the Act include: tax rate reduction, marriage penalty relief, estate and generation skipping transfer taxes, pension liberalization and reform with increased 401(k) and IRA contributions. Other changes include eventual repeal of itemized and personal exemptions, boosted child credits, and broadened tax breaks for education.
CPAs can also assist in planing, investment/financial planning and overall business planning. In addition, individuals can also benefit from education planing.
In past years, several hundred phone calls have been received.
The interstate toll free telephone numbers are 1-888-3SD-CPAS (1-888-373-2727), and 1-888-9SD-CPAS (1-888-973-2727).
The South Dakota CPA Society is a membership organization for over 700 certified public accountants, most of whom live and work in South Dakota. They are employed in all areas: CPA firms, businesses, government and education. SDCPAS offers a variety of programs and services for members and non-members. For more infor- mation about the organization or "Ask A CPA" please contact: Laura Coome, executive director, P.O. Box 1798, Sioux Falls, SD 57101-1798. Phone 605-334-3848.