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STRATEGIC ISSUES...ONLINE 
For week of June 12, 2006, Issue #265
 
Featured Articles:
1.  Why You May Want to Think About Prepaid College Tuition
2.  Tech Tip Weekly:  Copying Just the Format in MS Excel
3.  Compliance Calendar
 
 
If you would like to have further information on any of these articles, let us know.  We would appreciate receiving your comments and/or suggestions, anytime!
acarroll@pmcpa.com
1.  Why You May Want to Think About Prepaid College Tuition
 
If you're wondering how best to save for your child's future education costs, prepaid tuition plans are now a little more attractive.  That's because the Deficit Reduction act, signed in February, removed one of the drawbacks of these plans.
 
You can choose between two types of so-called Section 529 plans, which offer tax-advantaged savings for college costs.  In an investment-type college savings plan, you set aside money to grow tax-free until you use it for college expenses.  In a prepaid tuition plan, you lock in future tuition costs at or near today's prices.  Because tuition costs have risen much faster than inflation in recent years, the prepaid plan can be a good deal.
 
Until now, though, prepaid tuition plans had a disadvantage when it came to financial aid.  That's because college savings plans were considered part of the parents' funds, while prepaid tuition plans were treated as the student's assets.  And all of a student's funds are considered to be available to meet his financial needs, while only a percentage of the parents' funds are counted that way. So a student with a prepaid tuition plan might receive less financial aid than a student with the other type of plan.
 
The recent law eliminated this difference, so both types of plans receive equal treatment.  However, prepaid tuition plans still have some drawbacks, mainly because they're limited to specific groups of colleges.  You should examine all the pros and cons carefully before you choose which type of plan to use.
 
If you're facing future education costs, please contact our office.  We can explain all your tax-favored options for funding your child's college education.
 
2.  Tech Tip Weekly:  Copying Just the Format in MS Excel
 
In MS Excel, you can copy just the formatting applied to a cell or cell range and -- leaving behind the contents -- paste that formatting into a new range.
 
The range into which you copy the formatting can be blank or can contain cell entries.  If the range is blank, all cell entries that you make there take on the copied formatting.  If the range already contains cell entries, the copied formatting is immediately applied to them, replacing any existing formatting.
 
To copy just the formatting from a cell or cell range to a new place in the worksheet, follow these steps:
 
1.  Select the cell or range that contains the formatting you want to copy.
 
2.  Choose Edit, Copy or press Ctrl+C to copy the cells to the Clipboard.

    MS Excel copies both the cell contents and the formatting in the selected cells.
 
3.  Select the cell or cell range into which you want to copy the formatting.
 
4.  Choose Edit, Paste Special to open the Paste Special dialog box.
 
Be sure you don't choose Edit, Paste instead.  Otherwise, MS Excel will plunk down not only the formatting but the contents of the cells as well.
 
5.  Click the Formats option button in the Paste area of the Paste Special dialog box, and click OK.
 
3.  Compliance Calendar
 
June 14
-Employers deposit Social Security, Medicare and withheld income tax for June 7, 8, and 9.
 
June 15
-Monthly depositors deposit Social Security, Medicare and withheld income tax for May.
 
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