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STRATEGIC ISSUES...ONLINE 
For week of September 25, 2006, Issue #278
Featured Articles:
1.  Retirement Tax Breaks Included From Recent Pension Law
2.  Tech Tip Weekly:   Format Fonts on an MS Excel Chart
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.  Retirement Tax Breaks Included From Recent Pension Law
 
On August 17, 2006, President Bush signed a major new law on pension plans.  The law includes some provisions that will affect the rules for retirement savings.  You may feel the impact of these changes in the months and years ahead.
 
The changes  include:
 
-Making permanent the higher contribution limits for IRAs, 401(k) and SIMPLE plans, as well as the concept of catch-up contributions for older workers.  These higher limits were introduced in 2001 but were due to expire at the end of 2010.
 
-Giving you the option to have next year's tax refund deposited directly into an IRA account.
 
-Allowing active-duty members of the Reserves to make penalty-free withdrawals from IRAs and other retirement plans.
 
-Extending the ability to make hardship withdrawals from 401(k) plans to cover all named beneficiaries, not just spouses.
 
-Encouraging enrollment in 401(k) plans.  For example, if you change jobs you might find yourself automatically enrolled in the new company's 401(k) plan with preset payroll deductions.  You'll have the ability to change or opt out, but if you don't, you'll automatically start participating.
 
For more details of these changes, please contact our office.  We'll be happy to provide additional information tailored to your specific situation.
 
2.  Tech Tip Weekly:  Format Fonts on an MS Excel Chart
 
In an MS Excel chart, you can easily format the font for an individual axis.  Just follow these steps to make changes to the font:
 
1.  In a chart of your choice, right-click on an axis.
 
It doesn't matter if it's the value or category axis.
 
2.  Choose Format Axis from the pop-up menu.
 
The Format Axis dialog box appears.
 
3.  If necessary, click the Font tab to bring it to the top.
4.  Select different font settings and click OK.
 
Repeat Steps 1 through 4 to try different settings.  The selected font settings are applied to just the single axis.  the other axis or axes can be formatted in the same way.
 
Note the Auto Scale check box.  When checked, the font size is enlarged or reduced as the chart is resized.  When unchecked, the font size remains unchanged as the chart is resized.
 
3.  Compliance Calendar
 
September 27
-Employers deposit Social Security, Medicare and withheld income tax for September 20, 21, and 22.
 
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Prangley Marks, LLP
Accountants & Consultants
"The Way We Figure, We Are The Only CPA Firm You Will Ever Need"
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