HLB Gross Collins Blog - Atlanta CPA | Atlanta Taxes | Atlanta Accountant

HLB Gross Collins Blog Moved to www.hlbgrosscollins.com

noreply@blogger.com (HLB Gross Collins) — Tue, 23 Nov 2010 19:36:00 +0000

As part of our website redesign, we at HLB Gross Collins have moved our blog from Blogger to an internal blog at http://www.hlbgrosscollins.com/.

Please see our Resources Center for the Latest News & Updates, including tips, articles, Gross Reality Radio Show broadcasts & notes, and Business Builders Team videos.

Also, you can find us on Twitter at @HLBGrossCollins and on Facebook.

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Tom Breedlove Elected to BOD for British American Business Group

noreply@blogger.com (HLB Gross Collins) — Thu, 03 Jun 2010 20:57:00 +0000

Tom Breedlove, HLB Gross Collins, P.C. Principal and International Expert, was elected to serve on the Board of Directors for the British American Business Group.

Tom actively participates in this organization as well as many other international groups such as The Global Commerce Council of the Metro Atlanta Chamber of Commerce, The Netherlands-American Chamber of Commerce, The German American Chamber of Commerce, and the Georgia Hispanic Chamber of Commerce, as part of his commitment to maximizing opportunities and connections for his international client base.

Gross Reality's April 21 Show w/ Sen. Saxby Chambliss, Rep. Tom Price, & Rep. Paul Broun: Health Care & Washington Politics

noreply@blogger.com (HLB Gross Collins) — Thu, 03 Jun 2010 20:44:00 +0000

On the April 21st broadcast, we had a different format for Gross Reality. We assembled a group of leading local politicians to share perspectives and reactions regarding health care.

Gross Reality is delighted and honored to have guests who represent the State of Georgia, Senator Saxby Chambliss, Representatives Paul Broun, M.D. and Tom Price, M.D.. The entire show will be Steve Gross' interview with each of these local politicians. We will forego our weekly feature of The Good, The Bad and The Ugly to give all of our hour to our esteemed guests. Discussions focus on perspectives on the healthcare bill, what the challenges are and the next move.

With Senator Chambliss we discussed:

Health Care Reform passed by the House

* Constitutional or not?
* Affordable – if so, how?
* Senate likelihood of passing (as is or fix it plan)
* Can it be fixed or should it be repealed?
* State’s attorney’s general – can they effectively change the bill

Job Creation Bill

* Will it create jobs in private sector?
* How to incent private business vs. government power and jobs
* Progressives in power - our future
* Conservatives opportunity to retake America for future opportunity

With Congressman Tom Price and Congressman Paul Broun we discussed:

Healthcare Bill passed by the U.S. Senate

* What do you think the next step will be going forward?
* Repeal, fix or live with it?
* Immigration back door?
* Get services / no pay?
* Talk about the public reaction. Will it remain a factor through November?
* Conservatives/independents up in arms
* What is your vision of self reliance? Have we reached a tipping point?
* What will be the clear message of the Republican Party to be a compelling choice for the next election?
* What are your goals and action items to achieve them?
* What can your constituents do to help work toward those goals?
* No budget; out of control spending – no accountability?
* Tax system – any hope to simplify?

Click here to listen to Gross Reality:

Click here to find show notes and more information on Gross Reality. Podcasts of Gross Reality are available for download at iTunes...listen to Gross Reality on your iPhone, iPod, or desktop!

Listen live to "Gross Reality" every Wednesday at 5 pm ET on America's Web Radio!

HLB Gross Collins P.C. in Joint Venture with Canadian Afflliate

noreply@blogger.com (HLB Gross Collins) — Thu, 03 Jun 2010 20:41:00 +0000

HLB Gross Collins, P.C. and Schwartz Levitsky Feldman, LLP (Toronto, Canada) have established a new joint venture combining United States Certified Public Accountants with Canadian Chartered Accountants to provide a broad skill set and base of experience. HLB Gross Goldberg, LLP is a United States CPA firm located in Atlanta, Georgia.

The new firm provides extensive audit and assurance services to public companies. In addition to working with US based public companies, HLB Gross Goldberg, LLP specializes in serving foreign companies based outside the US and Canada that are listed on public stock exchanges.

HLB Gross Goldberg, LLP was created to address increasing regulatory and financial reporting requirements for public companies imposed by the Sarbanes-Oxley Act of 2002. HLB Gross Goldberg, LLP offers guidance and expertise to help minimize the burden of keeping up with the strict regulatory demands.

Gross Reality's April 14 Show w/ Stephan Strothenke: German vs. US Operations; International Business

noreply@blogger.com (HLB Gross Collins) — Thu, 03 Jun 2010 20:25:00 +0000

On the April 14th broadcast (below) of "Gross Reality," Steve Gross discussed doing international business with Stephan Strothenke, an international tax advisor from Bielefeld, Germany.

We discussed with Stephan a variety of business issues that differentiate U.S. business with German and European Union business practices and explored similarities, differences, the current state of the two economies, and business momentum in the U.S. vs. the E.U.

Steve Gross is the executive director of Business Builders Team and a founding partner of HLB Gross Collins. His radio show is dedicated to helping businesses and individuals survive and prosper in good & bad economic times. Steve opens every show with the theme of "the Good, the Bad, & the Ugly," a platform for the latest economic news.

Listen live to "Gross Reality" every Wednesday at 5 pm ET on America's Web Radio!

Click here to listen to Gross Reality:

Click here to find show notes and more information on Gross Reality. Podcasts of Gross Reality are available for download at iTunes...listen to Gross Reality on your iPhone, iPod, or desktop!

Gross Reality's April 7 Show w/ John Melonakas: Technology and Creating a Plan For Success

noreply@blogger.com (HLB Gross Collins) — Thu, 03 Jun 2010 20:06:00 +0000

On the April 7th broadcast (below) of "Gross Reality," Steve Gross explored the world of high technology start ups with one of Atlanta’s most promising technology entrepreneurs, John Melonakos.

John co-founded DivEyes, an innovation generator (Mothership) for digital imaging and vision technologies. This parent has developed two companies: AccelerEyes, a program code accelerator that uses a graphic processor instead of a motherboard CPU, and CellularEyes, a set of software imaging tools for pathologists.

Our introduction to John and his company came through our firm’s involvement in The Georgia Tech Business Plan Competition. This competition is a tradition in Atlanta that pits business, management and technology major together in a competition that leads to winners locally who win services and support, plus cash and recognition to give their ideas power. Winners continue on to national competitions and result in high visibility for the contestants and their plans.

HLBGC is a sponsor of the Georgia Tech Competition and provides financial, planning and tax support for the winners each year.

Steve Gross is the executive director of Business Builders Team and a founding partner of HLB Gross Collins. His radio show is dedicated to helping businesses and individuals survive and prosper in good & bad economic times. Steve opens every show with the theme of "the Good, the Bad, & the Ugly," a platform for the latest economic news.

Listen live to "Gross Reality" every Wednesday at 5 pm ET on America's Web Radio!

Click here to listen to Gross Reality:

Click here to find show notes and more information on Gross Reality. Podcasts of Gross Reality are available for download at iTunes...listen to Gross Reality on your iPhone, iPod, or desktop!

John Melonakos comes to us with a B.S. in electrical engineering from Brigham Young University, and both an M.S. & PhD in Electrical & Computer Engineering from Georgia Tech. He is the winner of both 2008 Georgia Tech & Georgia Bowl Business Plan Competitions and 2009 GRA/TAG Business Launch Competition.

Gross Reality's March 31 Show w/ Carlos Quintero: Define & Document the Sales Process

noreply@blogger.com (HLB Gross Collins) — Thu, 03 Jun 2010 19:36:00 +0000

On the March 31st broadcast (below) of "Gross Reality," Steve Gross discussed how to drive excellence and accelerate growth in sales forces with Carlos Quintero, President of Sales Effectiveness, Inc.

This is the third installment of our Sales and Marketing series. Our goal is to give you a 360 degree perspective of the different facets of an informed, organized, and effective sales and marketing effort company-wide.

Today we focus on enhancing growth by defining and documenting the sales process. As your company organically grows, so does the need to have distributed processes. A corresponding measurement and reporting function allows managers to see what is happening as it happens – over departments, geography and multiple sales teams.

Carlos is a recurrent guest, providing listeners with insights around the essential topics of sales effectiveness to help them conquer similar issues at their companies.

Steve Gross is the executive director of Business Builders Team and a founding partner of HLB Gross Collins. His radio show is dedicated to helping businesses and individuals survive and prosper in good & bad economic times. Steve opens every show with the theme of "the Good, the Bad, & the Ugly," a platform for the latest economic news.

Listen live to "Gross Reality" every Wednesday at 5 pm ET on America's Web Radio!

Click here to listen to Gross Reality:

Click here to find show notes and more information on Gross Reality. Podcasts of Gross Reality are available for download at iTunes...listen to Gross Reality on your iPhone, iPod, or desktop!

Reminders for Last Minute Tax Filers

noreply@blogger.com (HLB Gross Collins) — Thu, 15 Apr 2010 10:55:00 +0000

If you are one of the many Americans who waited until the last minute to file your tax return, you may be in for some long lines at the post office. April 15th is reportedly the single busiest day of the year for the post office. If you must brave the lines on April 15th, a few local post offices will remain open late. To find out about hours of operation for a post office near you visit the USPS Services locator. Tax returns must be postmarked by April 15, 2010.

Keep in mind that you can file your return electronically through April 15, 2010. If you extend the return, you will have up until October 15, 2010 to file the return. However, even if you extend the return you will still need to make any payments due by April 15. Failure to pay at least 90% of federal taxes due will result in interest and penalties.

Gross Reality's Mar 23 Show w/ Jim McManus & Judy Fortin: Adapting to the Changing Media Industry

noreply@blogger.com (HLB Gross Collins) — Wed, 31 Mar 2010 18:18:00 +0000

On the March 23rd broadcast (below) of "Gross Reality," Steve Gross discussed the changing Media industry by technology and digital communication with Jim McManus, Executive VP & Judy Fortin, VP of NewsCertified Exchange.

Steve Gross is the executive director of Business Builders Team and a founding partner of HLB Member HLB Gross Collins. His radio show is dedicated to helping businesses and individuals survive and prosper in good & bad economic times. Steve opens every show with the theme of "the Good, the Bad, & the Ugly," a platform for the latest economic news.

Listen live to "Gross Reality" every Wednesday at 5 pm ET on America's Web Radio!

Click here to listen to Gross Reality:

Click here to go to the Show Notes page for this broadcast. Click here to find show notes and more information on Gross Reality. Podcasts of Gross Reality are available for download at iTunes...listen to Gross Reality on your iPhone, iPod, or desktop!

Jim McManus is a founder and Executive Vice President at NewsCertified, where his business strategy experience has helped him build the original NewsCertified concept into a formidable venture over the past two years. Prior to NewsCertified, Jim launched and led the strategy practice at a 110-person consulting firm. He also co-founded Business Strategy Partners, a consultancy that served Fortune 500 clients, including Microsoft, and launched Enviromedix, a marketer of environmentally-safe products. As a management consultant at Deloitte & Touche, Jim’s activities included turnaround and post-acquisition projects, culminating in the launch of WorldCrest, an online exchange funded by KKR. He holds an MBA with honors from Columbia University.

Following a 19-year career as an award-winning anchor and correspondent for the CNN network group, Judy Fortin joined NewsCertified in April 2009 as a Vice President, helping to drive senior-level business development activities and organizing journalist outreach. Most recently, she reported for CNN's Medical Unit, filing daily television and Internet stories on consumer-related health news. Prior to that, she served as an anchor for Headline News, where she covered some of the biggest domestic and international news events of the past two decades. A proven team leader, Judy brings to NewsCertified an excellent reputation, a superb knowledge of the broadcast network industry, and a passion for helping link well-prepared experts with journalists from around the world. She earned a Bachelor of Arts degree in government and French from Bowdoin College in Brunswick, Maine.

Charitable Deductions On Your Tax Return - Substantiation Required

noreply@blogger.com (HLB Gross Collins) — Tue, 23 Mar 2010 17:03:00 +0000

A recent Tax Court case reaffirms the need to substantiate donations. Taxpayers indisputably wrote checks to a church as contributions and provided the canceled checks. However, they had not received the contemporaneous acknowledgment from the church, and the court held that the IRS had no latitude to allow the deduction.

Substantiation is required. No deduction is allowed for any cash contribution unless the taxpayer maintains a bank record or a written communication from the receiving organization showing its name, the date, and the amount of the contribution.

There is no exception for substantiating small cash donations. Therefore, if you put cash in the Salvation Army kettles or in a church offering plate and do not receive an acknowledgment, no deduction will be allowed.

For contributions of $250 or more, no deduction is allowed unless the taxpayer receives written acknowledgment from the recipient, including the amount of cash and a description of any non-cash property contributed, and a statement of whether the recipient provided goods or services in consideration for the contribution.

Generally, for non-cash contributions in excess of $5,000, the taxpayer must obtain a “qualified appraisal” and attach Section B of Form 8283 to the tax return. This requirement does not apply to publicly traded stock. In some cases the taxpayer may be required to also attach a copy of the appraisal to his/her tax return.

At HLB Gross Collins, P.C. we are committed to helping our clients minimize the tax bite each year by identifying all eligible deductions and planning opportunities. Contact your HLB Gross Collins, P.C. representative to assist you with your tax planning and preparation needs.

Don't Make These Mistakes at Tax Time

noreply@blogger.com (HLB Gross Collins) — Mon, 22 Mar 2010 17:28:00 +0000

If you are eager to get your tax refund check in hand, there are some common errors to avoid that might delay processing. If you pay attention to the details and avoid common mistakes, you can avoid unnecessary delays to get your check a little sooner. Here are a few tips:

Double check social security numbers. Believe it or not, taxpayers commonly make mistakes in entering social security numbers or event forget to include them. Be sure your number is entered, and that it is entered correctly.
Make sure names are spelled correctly. It may be hard to believe it, but misspelling a dependent's name delays many returns.
Choose the correct filing status. There are five filing statuses (Single, Married Filing Jointly, Married Filing Separately, Head of Household, and Qualifying Widow(er) With Dependent Child) and you must be sure to choose the correct filing status for your situation.
Use a calculator and check your math. Accuracy in math is critical for a speedy return.
Use correct bank account numbers for direct deposit. Make sure the routing and account numbers are correct if you are due a refund and requesting direct deposit.
Avoid computation errors. Take your time when figuring things like taxable income, estimated tax payments, and credits.
Sign the return. Without a signature, the return will not be processed. Don't forget to sign it and have your spouse sign as well if applicable.

At HLB Gross Collins, P.C. we are committed to helping our clients minimize the tax bite each year by identifying all eligible deductions and planning opportunities. Contact your HLB Gross Collins, P.C. representative to assist you with your tax planning and preparation needs.

Are Municipal Bonds Safe?

noreply@blogger.com (HLB Gross Collins) — Mon, 22 Mar 2010 17:22:00 +0000

By Richard Taylor

Bonds, especially municipal bonds, have always been considered the safe haven for investments with stable but small returns. Is it possible for municipal bonds to decline in value?

The answer is yes.

Here is a real life example, very likely in today’s world. You purchase a $100,000 municipal bond in the City of Rockville general revenue bonds. A few months later you discover that the city is having difficulty collecting its tax revenues. The city makes its quarterly interest payments on the bonds but makes the payments late because of the slow down in revenue. Now all of a sudden a ratings agency down grades the bonds from AAA to BBB. The bonds immediately begin trading at a 10% discount or $90,000. You have effectively lost $10,000 in current value.

At this point, you have a decision to make. Do you hold the bonds and hope that the city recovers and re-establishes its AAA credit rating? The city might recover and be fine. On the other hand it could get into deeper trouble and totally default on the bonds and their value becomes even lower. You can hold the bond until maturity and continue to collect your interest, assuming that the city can make the payments and at maturity you will collect the $100,000.

The above scenario is very real in today’s market. An area that you considered a safe haven, all of a sudden has risks that you thought you were avoiding. An alternative is to buy bond mutual funds or bond exchange traded funds (ETF’s). These funds invest in many different bonds and you invest in the fund. This way you are spreading your risk over a large number of municipalities rather than just one.

The point is very simple; if you are an individual investor, know well what you are investing in or have a professional manage your investments for you. It is very important when investing in bonds to do your homework and know the stability of the entity in which you are investing. Otherwise, stick with Mutual Funds or ETF’s.

For additional information or questions regarding your investment needs, contact Richard Taylor.

PAST PERFORMANCE IS NOT A GUARANTEE OF FUTURE RESULTS. Investing in stocks, bonds, mutual funds and other investments involves risk. These instruments may decline in value and are not insured by the FDIC or any other Federal government agency.

Gross Reality's Mar 17 Show w/ Ric Reitz: Film Tax Credits in Georgia

noreply@blogger.com (HLB Gross Collins) — Mon, 22 Mar 2010 16:52:00 +0000

On the March 17th broadcast (below) of "Gross Reality," Steve Gross discussed Film Tax Credits in Georgia with Ric Reitz, managing partner of Georgia Film Credit Consultants, LLC.

Steve Gross is the executive director of Business Builders Team and a founding partner of HLB Member HLB Gross Collins. His radio show is dedicated to helping businesses and individuals survive and prosper in good & bad economic times. Steve opens every show with the theme of "the Good, the Bad, & the Ugly," a platform for the latest economic news.

Listen live to "Gross Reality" every Wednesday at 5 pm ET on America's Web Radio!

Click here to listen to Gross Reality:

Click here to go to the Show Notes page for this broadcast. Click here to find show notes and more information on Gross Reality. Podcasts of Gross Reality are available for download at iTunes...listen to Gross Reality on your iPhone, iPod, or desktop!

Ric Reitz is a past president of the Georgia Production Partnership as well as one of the key architects in the development of Georgia’s current entertainment tax incentive law. This law directly affects both the Georgia Department of Economic Development and Georgia Film, Music & Digital Entertainment Office’s business plan through the year 2020.

Ric is also a professional actor, writer, composer, director and producer who has been active in show business for 32 years. He has appeared in over 100 national television shows, feature films and stage productions, plus more than 1000 commercials and corporate presentations. He is also president of Ric Reitz Writers, Inc., a 27-time international award-winning writing company, and Sir Fir Books & Music, an award-winning children's book and music entertainment publishing company.

Entertainment Tax Credits in Georgia

noreply@blogger.com (HLB Gross Collins) — Tue, 16 Mar 2010 16:25:00 +0000

Georgia has recently expanded the entertainment credit that was enacted a few years ago. Georgia now has a 30% credit for production costs incurred in Georgia. Many of the production companies do not need the credits because they don’t have Georgia taxable income. They can elect to make a one-time transfer of the credit.

How does this work? The production company submits the budget and gets pre-approved by the state. Once the production is complete, there is no verification by Georgia as to the amount of the credit. Therefore, a CPA firm must perform some testing and issue a comfort letter on the credits.

You may use the credits to offset 100% of your Georgia tax liability; the source of the income does not matter. Any credits not used may carry forward 5 years. If you wanted to buy 2009 credits to pay your Georgia liability you can do so and get a refund of the amounts already paid in.

The amount of tax satisfied is treated as a state tax payment in the year you file the return. You do have to pick up capital gain income for the difference between the amount paid for the credits and the amount of tax paid. For example, if a taxpayer has a $10,000 state tax liability, he could pay $9,000 for the credit (the credits typically sell for 89–90 cents on the dollar). The taxpayer would deduct the $10,000 on Schedule A and record a capital gain of $1,000.

At HLB Gross Collins, P.C. we are committed to helping our clients minimize the tax bite each year by identifying all eligible deductions and planning opportunities. Contact your HLB Gross Collins, P.C. representative to assist you with your tax planning and preparation needs.

Principals Enjoy British American Business Group's James Bond Gala

noreply@blogger.com (HLB Gross Collins) — Tue, 16 Mar 2010 15:48:00 +0000

Tom Breedlove and Richard Taylor attended the British American Business Group's James Bond Gala on March 6. Other attendees included the Consulate General from the United Kingdom, the international executive team from the Metro Atlanta Chamber of Commerce, members of the Georgia Economic Development office, as well as several state and local politicians. In all, there were over 155 representatives from the United Kingdom and the United States at the Black Tie event.

Tom and Richard serve many international clients and both are active in many different international organizations including HLB Gross Goldberg, an international joint venture with our Canadian affiliate.

Tom Breedlove sits on the trade committee for the British American Business Group (BABG) and for this event he hosted two of his clients from the United Kingdom in the service and manufacturing industries. Richard Taylor is our firm's liaison with HLB International and is also a director of the French-American Chamber of Commerce. By actively participating in many international organizations, our firm is able to maximize international market opportunities for clients who are doing business on a global scale.

Proceeds raised from the event will help fund scholarships at Oxford University in the UK as well as the University of Georgia, both Tom and Richard's alma mater. Click here and here to see photos.

Richard Taylor's 10 Rules of Trading

noreply@blogger.com (HLB Gross Collins) — Fri, 12 Mar 2010 17:01:00 +0000

Rules of trading are different than rules of investing but there are many similarities. If you are a trader, be careful and be sure to maintain discipline. Here are my 10 rules that you should never violate:

1. Define how much you are willing to lose before making a trade. Set a defined dollar and percentage stop before you make the purchase.
2. Know what you are buying and why you are buying it.
3. Never buy something just because someone else said to buy it. Do your own research.
4. Define where you want to sell.
5. Don’t place all of your bets in one day. Phase into a position.
6. Keep reasonable expectations. Don’t be too greedy. Remember, pigs get fat and hogs get slaughtered.
7. Never buy a stock that has made strong advances on two consecutive days.
8. Never short a stock that has made strong declines on two consecutive days.
9. Be aware of established support for a stock and buy as close to that point as possible.
10. Know why you are breaking any of the above rules.

Richard Taylor is a client services principal who joined HLB Gross Collins, P.C. in 1973. He serves as the firm's liaison with a worldwide organization of accounting firms, HLB International. A cum laude graduate of Andrew College, Richard received his BBA from the University of Georgia.

Richard specializes in providing business consulting, financial planning and tax services to privately owned businesses. He focuses on planning to help companies address issues and business challenges to enhance profitability and maximize financial success. He also provides auditing, financial reporting and tax services to his clients.

Richard works in a broad range of industries with concentrations of clients in the construction, manufacturing, wholesale distribution, and service industries. He works closely with clients to formulate tax planning strategies that will maximize profits and defer tax liabilities. He has extensive experience in business acquisitions, business sales and related financing, planning and tax strategies for these transactions.

In addition to his involvement with HLB International, Richard works with clients in international markets. He represents many international companies operating in the United States -- primarily in the manufacturing and distribution industries.

Richard is a member of the American Institute of CPAs and the Georgia Society of CPAs. He is certified in Georgia and Florida. Richard is a former president and director of Pinetree Country Club and a former director of the North Cobb Christian School. He is a director of the French-American Chamber of Commerce and HLB-USA.

Gross Reality's Mar 10 Show w/ Peter Frost: Going Global in Business

noreply@blogger.com (HLB Gross Collins) — Thu, 11 Mar 2010 23:14:00 +0000

On the March 10th broadcast (below) of "Gross Reality," Steve Gross discussed doing business internationally with Peter Frost, former Chief Executive Officer of HLB International, a world-wide network of independent professional accounting firms and business advisers.

Steve Gross is the executive director of Business Builders Team and a founding partner of HLB Member HLB Gross Collins. His radio show is dedicated to helping businesses and individuals survive and prosper in good & bad economic times. Steve opens every show with the theme of "the Good, the Bad, & the Ugly," a platform for the latest economic news.

Listen live to "Gross Reality" every Wednesday at 5 pm ET on America's Web Radio!

Click here to listen to Gross Reality:

Click here to go to the Show Notes page for this broadcast. Click here to find show notes and more information on Gross Reality. Podcasts of Gross Reality are available for download at iTunes...listen to Gross Reality on your iPhone, iPod, or desktop!

Peter Frost has spent the last 30 years working on the international scene. A UK chartered accountant by training, with a university degree in economics, he has been advising clients on their international expansion as well as traveling extensively, gaining a unique understanding of the different ways of doing business across the world, including how greatly varying cultures, social and even religious attitudes affect the way people do business.

In his time as CEO of HLB International he has interfaced not only with a wide range of business leaders in different industries but has dealt with a multitude of professional and financial institutions, learning how important it is to obtain the right professional advice when expanding into a new territory. He has also met with senior national officials across the world and experienced how the political climate in a country can affect how business is conducted by foreign investors and enterprises.

Gross Reality's Mar 3 Show w/ Ricky Novak and James Freeman: Real Estate 1031 Exchanges

noreply@blogger.com (HLB Gross Collins) — Wed, 10 Mar 2010 00:11:00 +0000

On the March 3rd broadcast (below) of "Gross Reality," Steve Gross discussed real estate 1031 Exchanges with Ricky Novak, and James Freeman, President and CFO, respectively, of Strategic 1031 Exchange Advisors, an Atlanta-based consulting firm and qualified intermediary that provides real estate and tax consulting services for clients structuring complex real estate transactions.

Steve Gross is the executive director of Business Builders Team and a founding partner of HLB Gross Collins. His radio show is dedicated to helping businesses and individuals survive and prosper in good & bad economic times. Steve opens every show with the theme of "the Good, the Bad, & the Ugly," a platform for the latest economic news.

Listen live to "Gross Reality" every Wednesday at 5 pm ET on America's Web Radio!

Click here to listen to Gross Reality:

Click here to go to the Show Notes page for this broadcast. Click here to find show notes and more information on Gross Reality. Podcasts of Gross Reality are available for download at iTunes...listen to Gross Reality on your iPhone, iPod, or desktop!

Ricky Novak has an undergraduate degree from the Georgia Institute of Technology, and his Juris Doctor from Emory University’s School of Law. After law school, Ricky joined Arthur Andersen’s Atlanta International Tax practice and later joined Deloitte & Touche’s Atlanta Real Estate Tax practice. Ricky assists his clients in structuring reverse exchanges, construction exchanges, leasehold exchanges, non-safe harbor exchanges, personal property exchanges, and multi-asset business sales, and other such complex 1031 transactions. Ricky was honored by his legal peers for his real estate and tax expertise by his selection as a 2009 Georgia Super Lawyer® Rising Star.

James Freeman is a graduate from the University of North Carolina at Chapel Hill and received a Master of Accounting from the University of North Carolina at Chapel Hill’s Kenan-Flagler Business School with a concentration in tax and real estate. He later received an MBA from Duke University’s Fuqua School of Business with a concentration in International Economics. Mr. Freeman has worked with Arthur Andersen’s Global Tax practice where he assisted multinational clients with global tax strategy, corporate restructuring and mergers and acquisitions. He took a three-year expatriate assignment in the Brussels, Belgium office where he continued this work. Later he joined Deloitte & Touche’s Brussels Tax practice where he furthered his tax expertise.

Gross Reality's Feb 24 Show w/ John Hamilton: Risk Management and Insurance Needs in Challenging Times

noreply@blogger.com (HLB Gross Collins) — Mon, 08 Mar 2010 04:32:00 +0000

On the February 24th broadcast (below) of "Gross Reality," Steve Gross discussed risk management in business and insurance needs, particularly with contractors, with John Hamilton, managing director of Rutherfoord's Atlanta office.

Steve Gross is the executive director of Business Builders Team and a founding partner of HLB Gross Collins. His radio show is dedicated to helping businesses and individuals survive and prosper in good & bad economic times. Steve opens every show with the theme of "the Good, the Bad, & the Ugly," a platform for the latest economic news.

Listen live to "Gross Reality" every Wednesday at 5 pm ET on America's Web Radio!

Click here to listen to Gross Reality:

Click here to find show notes and more information on Gross

Reality. Podcasts of Gross Reality are available for download at iTunes...listen to Gross Reality on your iPhone, iPod, or desktop!

John Hamilton currently serves as the managing director for the Atlanta office of Rutherfoord and works as the primary client executive for a select group of their clients. He attended the University of North Carolina where he was a Morehead Scholar before beginning his professional career in 1984 at Hamilton Dorsey Alston Company, serving in various capacities including chairman and CEO. When the company merged with Wachovia Insurance Services (WIS), John served as managing director and chairman of WIS, Georgia, and remained in that position until spring 2008, when he retired from the company.

In July 2008, he assumed his present duties with Rutherfoord. John currently serves on the executive committee of the Buckhead Coalition and the Atlanta Youth Academies board of directors. Along the way John was awarded an AAI designation in 1986 and his CPCU in 1988, both significant professional credentials in the insurance field.

Gross Reality's Feb 17 Show w/ Doug MacGinnitie: The Role of Government in Business

noreply@blogger.com (HLB Gross Collins) — Sun, 07 Mar 2010 20:16:00 +0000

On the February 17th broadcast (below) of "Gross Reality," Steve Gross discussed the role of government in business with Doug MacGinnitie, businessman-turned-politican and candidate for Secretary of State in Georgia.

Steve Gross is the executive director of Business Builders Team and a founding partner of HLB Gross Collins. His radio show is dedicated to helping businesses and individuals survive and prosper in good & bad economic times. Steve opens every show with the theme of "the Good, the Bad, & the Ugly," a platform for the latest economic news.

Listen live to "Gross Reality" every Wednesday at 5 pm ET on America's Web Radio!

Click here to listen to Gross Reality:

Click here to find show notes and more information on Gross Reality. Podcasts of Gross Reality are available for download at iTunes...listen to Gross Reality on your iPhone, iPod, or desktop!

Doug MacGinnitie is a businessman-turned-candidate for Secretary of State of Georgia. Doug has lived most of his life in metro Atlanta, attending elementary and high school in DeKalb County. He graduated Magna Cum Laude from Dartmouth College with a B.A. in History and Emory Law School. Following law school, Doug worked as an associate at Alston & Bird, was Chief Counsel for Georgia Pacific, and served as General Counsel for Hobbs Group. He co-founded and served as Chief Operating Officer for Beecher Carlson, a commercial insurance brokerage firm based in Atlanta.

Doug and his wife Missy live in Sandy Springs where they are raising their three children; Doug currently serves on the Sandy Springs City Council. Doug is active in several civic organizations including the Truancy Intervention Project and the Sandy Springs Rotary. With the goal of applying his conservative principles and private sector experience to state government, in February 2009 Doug officially became a candidate for Georgia’s Secretary of State. Find out more about Doug MacGinnitie's plans and activites by following him at these URL's:

Can I Deduct Taxes Paid for A New Car?

noreply@blogger.com (HLB Gross Collins) — Mon, 22 Feb 2010 23:01:00 +0000

If you purchased a new car between February 17, 2009 and December 31, 2009, you may be able to deduct the state and local sales or excise taxes paid. The deduction is available for the purchase of a new car, light truck, or motorcycle with a gross vehicle weight rating up to 8,500 pounds, as well as motor homes of any weight. Taxpayers who purchased more than one vehicle can deduct taxes for all qualifying vehicles, subject to the price limit and phaseout rules.

The deduction is only available for taxes paid on purchases up to $49,500. If the purchase amount exceeds this, then only the amount of taxes paid on the first $49,500 can be deducted. As usual there are income limitations and phase-out rules. For taxpayers whose modified adjusted gross income exceeds $125,000 ($250,000 for married taxpayers filing jointly) the deduction begins to phase out over a $10,000 range. There is no deduction available for taxpayers with a modified adjusted gross income exceeding $135,00 ($260,000 for married taxpayers filing jointly).

At HLB Gross Collins, P.C. we are committed to helping our clients minimize the tax bite each year by identifying all eligible deductions and planning opportunities. Contact your HLB Gross Collins, P.C. representative to assist you with your tax planning and preparation needs.

Georgia One of First States to Offer Rebate for Energy Efficient Appliances

noreply@blogger.com (HLB Gross Collins) — Mon, 22 Feb 2010 22:40:00 +0000

Last year, many taxpayers took advantage of the Cash for Clunkers program which encouraged trade in of gas guzzlers for a new fuel-efficient vehicle. Thanks to a similar effort, also part part of the American Recovery and Reinvestment Act of 2009, Georgians can now earn rebates from $25 to $199 for the purchase of new energy efficient appliances. Georgia is one of the first states to roll out this program, which will continue until the money runs out. Nationwide, $300 million is available for this program which is allocated to each state based on population. Georgia was allotted about $8.6 million toward this program.

To follow is a summary of the appliances eligible for the rebate and the amount of the corresponding rebate:

$30 for a qualifying room air conditioner
$50 for a refrigerator
$50-$99 for a washer, dishwasher or gas storage water heater, depending on the unit's efficiency
$99 for a gas condensing water heater, central air conditioner or oil furnace
$199 for an electric heat pump water heater, gas tank-less water heater, solar water heater, air source heat pump, gas furnace, oil burner or gas boiler

Consumers can get only one rebate per appliance category, per household. The maximum rebate total per household is $1,200.

To apply for the rebate, go to www.GeorgiaRebate.com or call 866-296-1633. Many appliance retailers will also have information about the program and may be able to assist with your application.

Gross Reality Growing Audience - 2482 iTunes Downloads in January

noreply@blogger.com (HLB Gross Collins) — Wed, 17 Feb 2010 15:44:00 +0000

The buzz about Gross Reality is growing.

In January, Steve Gross' Gross Reality web radio show was downloaded 2482 times in iTunes. Since the show first aired in June 2009, it has gained tremendous momentum and listenership by sharing business advice on surviving and prospering in both good and bad times.

The show airs on America’s Web Radio every Wednesday at 5pm. Each week, host Steve Gross invites an expert guest to share insights, perspective and expertise from his or her particular field. The show is designed to be a straight-forward, eye-opening discussion of the challenges and opportunities facing business owners and individuals today. Steve also discusses how the latest economic news from Capitol Hill and Wall Street affects businesses and ultimately, individuals, in his regular segment, "The Good, the Bad, & the Ugly."

Tune in to today's show, featuring Doug MacGinnitie, candidate for Secretary of State in Georgia. This will be a candid discussion on Doug's perspectives as a business man turned politician on the role of government in business.

Donate to Haiti by February 28 In Order to Deduct on 2009 Return

noreply@blogger.com (HLB Gross Collins) — Wed, 17 Feb 2010 15:25:00 +0000

As we previously reported, Congress passed legislation making a special and temporary exception for Haiti relief. Due to this legislation, taxpayers have the option to deduct qualified Haiti disaster relief contributions made after January 11 and before March 1, 2010 on their 2009 or 2010 federal tax return. Donations made on or after March 1, 2010 will still be deductible when you file your 2010 tax return. However, if you would like to take advantage of the tax deduction on your 2009 return, be sure to make your qualified deduction prior to March 1, 2010.

To read more about this planning opportunity, Click Here.

Richard Taylor & International Joint Venture Featured in Global Atlanta

noreply@blogger.com (HLB Gross Collins) — Tue, 16 Feb 2010 22:20:00 +0000

In order to meet the demanding needs of public companies doing international business, HLB Gross Collins, P.C. (Atlanta, Georgia) and Schwartz Levitsky Feldman LLP (Toronto, Canada) established a joint venture combining United States Certified Public Accountants with Canadian Chartered Accountants to provide a broad skill set and base of experience.

HLB Gross Goldberg, LLP is independent of the two existing firms and provides extensive audit and assurance services to public companies. In addition to working with US based public companies, HLB Gross Goldberg, LLP specializes in serving foreign companies based outside of the US and Canada that are listed on public stock exchanges.

Visit Global Atlanta online to read the full article and interview with Richard Taylor.