Retirees’ Club Minutes for November 13, 2012
The meeting was held in Room 102B of the Maverick Activity Center (MAC) at 10:30am on Tuesday, November 13, 2012. Everyone enjoyed a meet and greet with coffee and pastries.
ANNOUNCEMENTS
Club President Frank Gault opened the meeting by announcing that this was UTA Homecoming week. Volunteers are needed for the Chili cook-off and the Christkindl Market. See him if you want to volunteer. Frank introduced Eunice Currie from HR and thanked her for her help in updating the web page; he also introduced her parents who are members of the Retirees’ Club. Frank also explained that we collect a voluntary donation of one dollar at each meeting to fund our budget. The money has been used to purchase scholarship bricks and pay for transportation when needed.
If you have not been receiving the e-mail messages give your correct e-mail address to Rosanne Minyard, secretary.
Harley Courtney, Vice President for Programs, gave a rundown of the future programs for the year. The programs are listed on our newly updated web page Harley introduced our speaker, CPA Sharon Perry.
PROGRAM
Sharon Perry is a CPA with 30 years of experience. Ms. Perry has a BBA in Accounting and a Masters in Taxation from UTA. She is also a former UTA instructor. She started her presentation with a handout on Tax planning. She let us know that the Bush tax cuts will still be in place for the 2012 tax year but it is too soon to know what will happen for the 2013 tax year. She did discuss a new 3.8% Medicare tax for 2013. The Obama Social Security 2% tax reduction ends going back to 6.2%. Tax planning is highly individualized and subject to Congressional changes. Ms. Perry listed some considerations for tax strategies and urged everyone to spend a small amount of money to get questions answered by a professional CPA before making changes. She discussed how to treat oil & gas royalties using a tax schedule E. Ms. Perry answered questions and gave her phone number (817 795-1040) for future contact. She said that she can answer some questions over the phone but urged everyone to consider professional help with complex questions. A small fee may save you from making mistakes and losing a large amount of money.
Submitted by Rosanne Minyard, secretary