Month: November 2016

Guest Speaker: Southern Tier CA$H Program (VITA)

Guest speakers from the Southern Tier CA$H (Creating Assets, Savings and Hope) spoke today about their IRS sponsored Volunteer Income Tax Assistance (VITA) program.  Ther program is led by Arbor Housing and Development, offering free tax help for low-to-moderate income families and individuals, persons with disabilities, the elderly, and limited English speaking taxpayers who need assistance in preparing their own tax returns. IRS-certified volunteers provide free basic income tax return preparation with electronic filing to qualified individuals.

CA$H volunteers prepare both your federal and state tax returns, and help taxpayers find tax credits for eligible taxpayers.

  • FREE – Using a paid preparer can cost $250 or more per person; the CA$H program costs nothing.
  • FAST – By e-filing and having your refund direct-deposited, you will receive your money quicker.
  • CONVENIENT – CA$H appointments are available at sites across the Southern Tier, and at times that work for you.
  • ACCURATE – CA$H volunteers are trained by IRS-approved specialists and must complete certification tests before completing any returns.

Guest Speaker: Allegany County United Way VITA Program

Shawn M. Currier, coordinator of the Allegany County United Way Volunteer Income Tax Assistance (VITA) program spoke to our students today about volunteering for the VITA program works and all the good that program does in Allegany County.

VITA assists taxpayers who make $54,000 or less, people with disabilities, and limited English speaking taxpayers who need help preparing their own tax returns. Our IRS-certified volunteers provide basic federal and state income tax return preparation with electronic filing to qualified individuals.

This past year, 512 families have been served, with total income tax refunds of $800,573. In addition, we estimate that this program has saved these families approximately $175 each in preparation costs for a total of $88,550.

Allegany County United Way supports over 25 nonprofit programs in our community that impact one in every three local residents. For the full list of programs supported, go to our website at www.acuw.com and like us on Facebook.

The 6th Annual Alfred Clay Collective Live & Silent Auction

Tonight, AU Business Students supported their fellow students at the Alfred Clay Collective auction.  Business students gained a new appreciation of their colleague’s art as they saw first hand how the sale of art ties into the Law of Contracts (LAW241), and the Uniform Commercial Code (LAW442).

Guest Speaker from the Department of Justice: Richard A. Resnick

Mr. Richard A. Resnick spoke to LAW241 students today on the topic of white collar crime, and of his experiences as a prosecutor for the U.S. Department of Justice in the Western District of New York.  He explained that while on his way to obtaining his CPA, he instead chose to go to law school and use his accounting skills with the Internal Revenue Service where he honed his legal and investigatory skills.

Richard A. Resnick, Assistant U.S. Attorney in Charge of the Rochester Office, U.S. Attorney’s Office for the Western District of New York.  He obtained his law degree from the State University at Buffalo Faculty of Law and Jurisprudence, and his undergraduate Accounting degree from Alfred University.

Equine Business and Tax Guest Speaker: Larry Rosenblum

Larry Rosenblum, President of The Equine Tax Group, spoke to Alfred University students on select topics in Equine Business and Taxation.

Larry Rosenblum

In the morning session, Larry’s presentation enabled the audience to understand the importance of having a business plan for business and tax purposes in farming or related agricultural businesses.   The presentation walked the audience through each step of the process.

In the evening session Larry focused on select equine tax and tax audit issues.

Larry’s firm partners with taxpayers, C.P.A. firms, and Attorneys to resolve disputes with the Internal Revenue Service (IRS) and State Tax Departments, with a special focus on resolving section 183 (hobby loss) and section 469 (passive loss) issues in the equine industry.

Larry’s practice also includes IRS dispute resolution and general taxation issues, and Agriculture and Excise taxes. He possesses expertise in IRS Examination, Collection and Appeals procedures, and is an experienced witness in court cases and income reconstruction cases.

Democratizing Investments in Clean Energy and Carbon Offsets: Opportunities for Small Investors

The Greentech Investors Forum (GIF) had a new format for November 11’s meeting. Alfred students heard from four companies (and one Sector Expert) that are creating similar opportunities—raising and employing capital from smaller investors to combat climate change.

The International Energy Association has calculated that investments in clean energy of at least $1 trillion a year are needed to “prevent climate catastrophes”. In 2015, only $330 billion was invested globally and $52 billion in the US. Where will that additional money come from? The big players, eg pension funds, sovereign wealth funds, wealthy family offices and corporation must lead the way. But they can’t do it alone. It is urgent to develop ways to facilitate clean investments from everyone—even small investors.

Representatives from the following companies are developing investments for “the little guy”, and spoke that day:

  • CoPower, which streamlines up-front financing for clean energy projects
  • Carbon Capital Credit, which allows people and families to offset their footprints by investing in climate friendly changes in developing countries;

Representatives from the following startup companies will speak today:

  • Carbon XPrint, which allows people to offset their carbon footprint ton-by-ton of CO2 with minimum or zero risk; and
  • Climate-IT, a new crowd-funding equity platform for clean energy companies.

Hillary McMahon, Managing Director of Hazel, will also speak.  Hillary has worked as Director of Intelligence at Richard Branson’s Carbon War Room, and previously as an expert and as a thought leader at the World Resources Institute, the UN, the European Commission and others.