Your Source for News, Tips and Strategies to Help You Make the Right Moves

Fore!

Ken Coyle, CPA, Managing Partner

The Center of Our Vision

As the new Managing Partner of McCauley, Nicolas & Company, I’d like to invite you to spend a few minutes with us via our eletter. In this issue, you’ll learn how to properly deduct tickets to the ballgame, how to fix your will quickly, and how recent tax law changes may impact you. Also included is important information on potential internet legislation that could adversely affect your business.

We are also providing more information on Capital Asset Management, the full-service investment firm founded by MNC partners in 2000: meet CAM’s newest associates and read their tips for retirement planning.

This is my favorite time of year. And not just because the golf course is calling my name! As we transition out of “crunch” time, I find that I have more hours to focus on helping my clients plan for the future. Mapping the vision, improving the bottom line, making smart investment decisions, planning for tax benefits… these are the real reasons I love what I do. Now, not only do I get to keep doing these things for our clients – I am committed to doing the same for our firm.

Our vision: To be recognized as the first resource that clients, business leaders and the community turn to for leadership and creative solutions. We have made great strides toward fully achieving that vision, and are excited about where we’re headed in 2006 and beyond. That vision centers around YOU, so please let us know how we can be your first resource.

To our many loyal clients, sincere thanks for being the most important part of our 60th “Diamond Anniversary” celebration year. We look forward to continuing to anticipate and serve your needs for CPA and advisory services.
Ken_Coyle@mnccpa.com

Tax Tips

Mike Grinnan, CPA Partner

Taking Clients Out to the Ball Game

Now that the baseball season is underway, you may treat a client or customer to a day at the ball park. What can you deduct? It depends on how the tickets are used. Specifically, the expense may qualify as either business entertainment or a business gift.

If you attend the game with the business client, the cost of the tickets can be deducted only as business entertainment. To qualify, the entertainment must be “directly related to” or “associated with” the conduct of your business.

continue reading...

Even in Good Times
Watch the Overhead

Estate Planning

Ron Barnes, CPA, PFS Partner

How to fix your will quickly

Do you have a will in place? If not, this is a matter you should take care of immediately. It is usually the first—and most critical—step in the estate-planning process.

Suppose you already have a will, but your circumstances have changed in the intervening years. In that case, you may be able to add onto or modify your existing will with a codicil. Because the cost is generally less than the fee for creating an entire new will, this may save you both time and money.

continue reading...

See the Summer
issue of DIMENSIONS
CPA Report for
the Construction
Industry

Knight Bytes

Jason Thompson, Network Assistant

Network neutrality and why it is
important to you

Imagine getting into your car to take a trip to the grocery store. You start on your way, and notice that the speed limit is now set for each make and model of car. In addition, some models are not allowed to access this road at all. Sound farfetched? It is not too far from what is being planned for the internet.

The Communications Opportunity, Promotion, and Enhancement Act of 2006 (COPE) is being debated in Congress. This bill would enable your internet service provider (ISP) to allow or disallow access to websites and services based upon the payment of a fee.

continue reading...

Retirement Planning

Advice from Capital Asset Management

1. Develop a Plan To develop a well-thought-out plan, one should first determine how much spending is realistically anticipated. Be honest with yourself and as thorough as possible. The investment plan should be integrated into an overall estate and tax plan that includes wills and financial/health care durable powers of attorney.

continue reading...

Meet CAM's Newest Managers

Eric and Jay bring enthusiam, ideas, expertise and opportunities

Eric Kyereme joined Capital Asset Management, LLC on June 1, 2005 as an Asset Manager, bringing with him a loyal clientele. A native of New York, N.Y., Eric has worked for an international insurance firm and mutual fund company, and is involved in various partnerships. He has also pursued successful real estate investments in the North Shore area of Chicago and in Mid-Manhattan, and has invested in other ventures across the country.
continue reading...

Jay Conner joined CAM in February of 2006 as an Investment Manager. A Jeffersonville native, Jay attained a BS in Financial Management from Indiana University, Bloomington, in 2002. He returned home to practice in Louisville and began his career as a Financial Planner working with a Fortune 500 firm. He soon partnered with a branch in Cocoa, Fla., for his financial planning company, and served over 1200 clients throughout Indiana, Kentucky, Florida, and Connecticut
continue reading...

The Lowdown on
What Can Bring
a Practice Down
and much more

in the Summer
issue of
Practice Strategies

Keeping Up

TIPRA 2005

On May 17, 2006, President Bush signed the Tax Increase Prevention and Reconciliation Act of 2005, calling the $70 billion tax cut package “vital legislation” that will “keep our taxes low and the economy growing.”

continue reading...

People and Events

Chesscapades

Ron Barnes was named The Sam Day, Kightlinger & Gray Professional of the Year at the SICC's 2006 Business Awards program, held in May.

More News on Events and People
SICC "Cite"...

Ownership for
Non-family Employees?

Summer issue
of Family Business
Perspectives

This is an advertisement

We at McCauley, Nicolas

are eager to assist you with your business and personal accounting and consulting needs. Give us a call at
812-288-6621 or contact Delene_Murray, 288-6621.