November 4, 2011 – Georgia Medical Group Management Association (MGMA) 2011 Governmental/Third Party Payer Forum. Stop by our booth (Click here).
November 18, 2011 – Institute for Professionals in Taxation (IPT) Georgia One-Day Tax Seminar. This will be a great session to hear the new DOR commissioner and talk with DOR policy folks. Hope to see you there. (to download brochure click here).
I recently spoke with Guy Griswold, President of Blue Ridge Strategies, a Georgia-based public affairs firm (check them out here). We are working with his firm on legislative areas that impact tax credits, and he gave me a great synopsis of the GCI and progress to date:
Governor Deal chartered the Georgia Competitiveness Initiative (GCI) as a joint effort of the Georgia Department of Economic Development and the Georgia Chamber of Commerce.
GCI’s mission is to bring state and local governments and the business community together to develop a long-term strategy for economic development and business prosperity for our state.
GCI has completed its circuit of 12 listening sessions across the state, with its last meeting held on August 31st in West Point.
We have worked throughout the process to ensure preservation of Retraining and Jobs Tax Credits, and we will continue to promote the benefits that these credits have brought Georgia companies.
The Carl Vinson Institute of Government (part of UGA) is compiling all of the input and feedback from the 12 listening sessions for use by the Initiative Committee members as they begin developing their recommendations, which are expected to be released by the beginning of 2012 in concert with the start of Georgia’s legislative session.
If you have specific examples of how tax credits have helped your business or the business of your clients grow, we would like to include those in our discussions with committee members.
Thanks, Guy!
We are almost done with the 12 GA Competitive Initiative (GCI) meetings around the state! At most sessions there are 200 or more attendees, but most of them are from education, government and economic development (not many from private businesses). Lots of ideas have surfaced, but so far they need more specific solutions.
A reminder — the GCI is NOT a legislative mandate like it was for last year’s Tax Reform study, but recently Chris Clark, CEO Georgia Chamber of Commerce, said during his speech – “the goal of GCI is to create a jobs agenda for legislation. We will push this through the General Assembly in 2012.”
We will keep you posted as the sessions wind up and specifics begin to be developed. Don’t hesitate to contact your representative or senator as the 2012 session approaches. They can’t address your needs if you don’t let them know what those needs are!!
We have now attended the first 5 of 12 GA Competitive Initiative (GCI) meetings around the state. The sessions are averaging around 200+ attendees, but so far continue to be attended by mainly education, government and economic development people (not many from private businesses). Some specific policy ideas are getting through, although it is pretty hard for the GCI organizers to herd the cats!
The five-hour meeting format with facilitated sessions around 6 topical areas is okay in theory, but it is pretty hard for any of our clients to find that much time away from business. We are looking for ways to get their opinions heard anyway, either remotely or electronically, and will let you know specifics when we know more.
To participate in any of the remaining sessions, registration is required (click here). Hopefully we will see you at one of the sessions!
| We attended the first of 12 GA Competitive Initiative (GCI) meetings in Albany. There were 200+ attendees, but most of them were education, government and economic development representatives (not many from private businesses). The main needs identified centered on workforce development (that is, having a capable and ready workforce and strengthening the existing workforce).
The five-hour meeting format includes facilitated sessions around the 6 topical areas that the Initiative has identified: business climate, education & workforce development, innovation, infrastructure, international opportunity and growth, and government efficiency and effectiveness. Session leaders collect input from attendees, and real-time reports are generated for review. You and your clients need to participate if you want to be a part of this initiative – OR – accept what the legislators decide during the next session. Registration is required (click here). We hope to see you at one of the sessions! |
The state’s new Competitiveness Initiative team wants input from you for future economic development plans and related legislation. They will be holding 12 meetings throughout the state, from June 23 in Albany to August 31 in West Point (click here for locations and dates). The format for these meetings will be a facilitated session around the 6 topical areas that the Initiative has identified: business climate, education & workforce development, innovation, infrastructure, international opportunity and growth, and government efficiency and effectiveness. It is requested that presenters utilize these areas in their presentations. If you are interested in helping with Georgia’s economic development future, attend and participate in the meeting nearest you!
We recently attended the annual IPT Institute for Professionals in Taxation (click here) One-Day Georgia Tax Seminar.
Appearing most likely for the last time as Commissioner, Bart Graham welcomed attendees and also honored Deputy Commissioner Ed Many on his retirement. We learned about current tax cases from Warren Calvert of the Attorney General’s office and also heard presentations on property taxes, income taxes, and the new Streamlined Sales Tax program.
A.D. Frazier, chairman of The Special Council on Tax Reform and Fairness for Georgians, discussed his group’s efforts and plans to present their recommendations to the 2011 legislature in January. He was entertaining but basically didn’t reveal anything new.
Since there were not many tax law changes in 2010, the seminar was fairy ho-hum. But with the looming budget crisis, the Special Council fallout, and who-knows-what-else from the 2011 legislative session, next year’s IPT seminar could be a different story!
What is the best way to utilize 100 hours of your time over the next 2 months: billable hours – OR – business development?
Scott Bradbary, of The Rainmaker Academy (click here) posed this question to the audience at the recent GSCPA – Firm Practice Management Conference at the Ritz Carlton Reynolds Plantation. Alpharesults helped sponsor the event, attended by 34 partners from CPA firms across Georgia.
Scott’s audience survey found an average billable rate of $200/hour and average new client revenue of $30,000 in the first year. Based on CPA industry averages, he said that a new client will provide 50% of revenue in subsequent years and stay with the firm 6 more years = $120,000 ($30,000 + ($30,000 x 50% x 6 years)).
And, each new client should provide an additional 4 new referral clients. For that 100 hours of business development, you could get $600,000 (5 clients x $120,000)!
Which had you rather have, $20,000 now ($200/hr x 100 hours) or $600,000 over the next seven years?
Scott challenged the audience to take this 100-Hour Challenge, and I think it’s a great challenge for you! So get out there and spend 100 hours over the next two months developing business. Network with bankers, lawyers, insurance agents, economic developers, and even tax credit consultants 
.
Another thing — go ahead and make plans to attend the conference next November! It’s a great conference in a beautiful, relaxing setting. Hope to see you there!
Notice for 5th Meeting of Special Council on Tax Reform and Fairness for Georgians
This group continues its work on the state’s tax system. Sessions have already been held around the state. They are getting closer to formulating concrete recommendations.
When: Wednesday, December 1, 2010
1:00 PM
(The Council will not meet in November)
Where: Cecil B. Day Hall
Mercer University’s Atlanta Campus
3001 Mercer University Drive
Atlanta, Georgia 30341
Directions click here.
April 29 is supposed to be the last day of the 2010 Georgia legislative session, and so far, we have not seen any significant tax credit changes.
Some items of interest include:
HB 1405 (click here) — Creates a “Special Council on Tax Reform and Fairness for Georgians” and the “Special Joint Committee on Georgia Revenue Structure” to study the state’s current revenue structure (including tax credits) and make recommendations for changes starting in 2011.
SB 374 (click here) — Creates a “Legislative Economic Development Council” and a “Citizens Advisory Committee” to review all state economic development programs, incentives and related activities on a regular basis and recommend changes.
It looks like a lot of councils, committees and meetings to analyze, study, review and recommend changes that could affect tax credits. Neither of these bills has been signed by Governor Purdue yet. It will be interesting to see what happens in 2011, especially with a new governor leading our state. Stay tuned!
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