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NCCPAP Releases Its January 2020 IRS NPL Update

Immediate Past President and current Tax Chair, Stephen Mankowski, CPA, recently attended the January 2020 IRS NPL and Taxpayer First Act meetings. Highlighted topics include: Enterprise Risk Management, Electronic Signatures, New Director for the Office of Professional Responsibility, and Taxpayer First Act Meetings.

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Emerson Products, Complementary Brands, & Operations Software From Proconex

Proconex has recently updated their Line Card, which includes a wide range of Control, Isolation, and Safety/Pressure Relief Valves, as well as Regulators, Actuators, Process Control Systems, Operations Software, and Wireless Networks. Proconex is your ‘go to’ source for a multitude of industries: Refining, Pulp & Paper, Chemical, Power Generation, Oil & Gas (Onshore/Midstream/Storage), Life Sciences, and HVAC. Plus, many of their frequently requested products are in stock and ready for delivery.

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Fairman Group Explains How the SECURE Act May Affect You

The Setting Every Community Up for Retirement Enhancement (SECURE) Act is one of the biggest pieces of legislation regarding retirement plans in recent memory. As with any update to the tax and retirement planning landscape, it’s important to review your particular situation to understand the potential effects of these changes. Among the provisions of the SECURE Act, there are a few that deserve special attention.

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NCCPAP President Included in Accounting Today Most Influential People

Congratulations to Neil H. Fishman, CPA, CFE, FCPA, CAMS, and NCCPAP President, who follows in the footsteps of other esteemed NCCPAP Presidents acknowledged by Accounting Today in previous years. This prestigious honor is by no means automatic—there’s an extensive questionnaire and years of dedication and credentials that are required for consideration.

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Proconex Introduces DataJaguar, Production Analytics for Batch Manufacturers

Increase visibility of real-time batch status in operation terms, while providing analytics tools for improvement.

With DataJaguar™, manufacturing companies can: solve batch process challenges related to resource utilization, maximize production assets (both equipment and people), and provide insights into the reasons why a batch may be behind or ahead of schedule, or whether there are anomalies in a particular batch. Furthermore, with DataJaguar you can now make informed decisions, such as justifying capital expenditures, with real data to back up your intuitions.

Gain Insights to:

  • Accurate Cause of Delays
  • Future Batch Status
  • Precise Areas for Improvement

Advantages:

  • Increase Operational Awareness: Provides actionable views in operational, not automation, terminology.
  • Make Informed Decisions: Move error prone retrospective anecdotal date to concise data, collected in real time.
  • Decrease Lost Production Time, Significantly: Allow operators to respond to delays immediately.
  • Pinpoint Opportunities for Improvement: Includes dashboards, drilldowns, and other detailed analytics needed to improve asset utilization.

NCCPAP Releases Its November 2019 IRS NPL Update

NCCPAP Immediate Past President, Stephen Mankowski, CPA, recently attended the November 2019 IRS NPL meeting. Highlights of this month’s meeting include: Disaster Assistance Relief, Identity Protection Program, IRSAC Briefing Book, and the new 2020 W-4.

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NCCPAP Selects 40th Anniversary Gold Award Winners

NCCPAP Gold Awards are not to be taken lightly. In fact, they are only given out every five years. In addition, the previous winner has the responsibility and honor of selecting the new winner or winners. As NCCPAP (the National Conference of CPA Practitioners) continues to celebrate its 40th Anniversary as an organization of ‘CPA practitioners helping CPA practitioners’, two individuals have been recognized for their lifetime achievements not only as CPAs, but also as contributors, advocates, and selfless volunteers to the entire organization. Congratulations to Karen P. Giunta, CPA from Melville, NY and Sanford (Sandy) E. Zinman, CPA in Tarrytown, NY for being recognized as Gold Award Winners for 2019.

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NCCPAP Speaks at Various IRS Tax Security Week Press Conferences

The IRS and its Security Summit partners held a series of press conferences on December 2 to urge taxpayers, business and tax professionals to take precautions to better protect their personal and financial data. Neil H. Fishman, CPA, CFE, FCPA, CAMS and Steve Mankowski, CPA represented NCCPAP at the Miami and Philadelphia conferences respectively. This press event was part of National Tax Security Awareness Week, which is taking place from December 2-6, 2019.

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Fairman Group Provides 12 Tax Planning Ideas for 2019

There is still time to implement some great tax planning ideas for 2019. While many planning tools remain similar to last year, the IRS has issued new guidance that could affect your tax situation.

Idea 1: Charitable Contributions

  • Consider a Donor Advised Fund (DAF). If you want to take advantage of itemized deductions, but do not want all the money to go to the charity in a single year, a DAF is the perfect vehicle to accomplish this goal.
  • Consider a Qualified Charitable Distribution (QCD). Instead of taking a distribution from an Individual Retirement Account (IRA), taxpayers age 70 ½ and over may directly transfer up to $100,000 to public charities. The income tax benefit is not a charitable deduction, but rather, the exclusion of the donation amount from your income.
  • Charitable contributions in exchange for state or local tax credits are now limited. The IRS issued final regulations that require taxpayers to reduce their Federal charitable deduction by state or local tax credits received in return for their contribution. For PA residents, this has a direct impact on charitable contributions made through Pennsylvania’s Educational Improvement Tax Credit and Opportunity Scholarship Tax Credit programs.

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