Chartered Global Management Accountant

Chuck Heyde obtained his Charted Global ManageMent Accountant (CGMA) designation today.  Congratulations to Charles “Chuck” Heyde, Jr, CPA, CGMA

You can read more about this important new global designation at

The Chartered Global Management Accountant (CGMA) is a new global management accounting designation that recognizes the unique role played by men and women at organisations around the world who are guiding critical business decisions and driving strong business performance.

Created through a joint venture of the American Institute of Certified Public Accountants (AICPA) and the Chartered Institute of Management Accountants (CIMA), the CGMA elevates management accounting and recognises the competencies and expertise of management accountants who are leading the world’s most successful organizations and providing employers with the best professional management accounting talent to drive sustainable business success. It demonstrates management accounting expertise in such areas as leading strategically with management to make more informed decisions; helping organisations manage change, risk and uncertainty; protecting corporate assets; and promoting operational efficiency and effectiveness. In addition, the CGMA advances management accounting while supporting and growing the U.S. CPA and the global reach of CIMA.


GEMMS Celebrates 10 Years of Service

In May of 2002 while Arthur Andersen began shutting down and most Andersen employees began moving to other Big 4 firms and clients of Andersen, James Smith developed a better idea.  James believed we could offer a better service at a better rate.  With that idea James Smith opened Global Executive ManageMent Solutions in May of 2002.  A few months later Jennifer Chapman and Chuck Heyde saw the genius of James Smith’s idea and joined GEMMS.

With Jennifer providing International Payroll and Chuck providing Expatriate and Inpatriate Tax, James, who already provided International Human Resource solutions,  now had a complete one stop shop to provide all your international US tax solutions.

Over the years, GEMMS has developed and continually refines an top notch group of affiliated companies (similar to the Big 4 affiliated companies) around the world to help with all your worldwide tax services.  Today GEMMS can not only provide expatriate tax and consulting services directly to the individual expatriate, inpatriate, and missionaries around the world, GEMMS also provides the same type services (equalization, hypo, gross up, consulting, etc) provided by the Big 4 accounting firms to Corporate Client’s international assignees – but at a much better rate.

While a lot has changed over the past 10 years, our rates have not.  We started in May of 2002 with an hourly rate of $150.  Today our rate is only $200/hr which is still substantially less than the first year staff at any one of the Final 4 accounting firms.  So we continue bragging today that at GEMMS you receive an experienced Manager level associate at the Big 4 Staff level rates.

Thank you for 10 great years and we are already looking forward to the next 10.


Last Chance to Claim Home Energy Credits Expiring in 2011

Cross References
  • IRC §25C, Nonbusiness Energy Property
  • Form 5695, Residential Energy Credits
The nonbusiness energy property credit is scheduled to expire at the end of 2011 so taxpayers only have a short time to take advantage of this credit.
The 2011 credit is more limited than in past years but is still available for qualifying improvements placed in service for the taxpayer?s principal residence located in the United
States before January 1, 2012.
Principal residence. The taxpayer must own the home and use it as a principal residence.
Credit. The nonbusiness energy property credit is a credit for making qualifying energy
efficient home improvements. The tax credit is 10% of the cost (up to $500), or a specific
amount, for qualified energy efficient improvements. It must be an existing home and the
taxpayer?s principal residence. New construction and rentals do not qualify.
Eligible items include:
Item: Credit Amount:
Biomass stoves $300
Heating, ventilating, air conditioning (HVAC) Varies from $50 ? $300
10% of the cost, up to $500 (does not include installation costs)
Roof (metal and asphalt)
10% of the cost, up to $500 (does not include
installation costs)
Water heaters (non-solar) $300
Windows and doors
10% of the cost, up to $500, but windows are
capped at $200 (does not include installation
costs)?must be ENERGY STAR qualified
Energy Star. For 2011, an Energy Star label is generally sufficient proof that property is
qualifying property for the nonbusiness energy property credit.
Lifetime maximum credit. The lifetime credit for all types of property is $500. Therefore,
a taxpayer is not eligible to claim a 2011 credit if they claimed energy credits in previous
years that exceed $500. Additionally, the credit is nonrefundable and may not be carried
Basis. If a taxpayer receives a credit, the taxpayer?s basis in the qualifying property is
reduced by the amount of the credit received.

I like Herman Cain’s 9-9-9 plan but have one question.

What happens to all the people that work in the tax fields if his plan is fully implemented?

That is, what happens to the employees at the IRS, the Big 4 firms, the HR Blocks, the people that make tax programs, the Post Office (the only thing they deliver any more is the tax returns), even Auditors (why would we need audits if taxes were flat) and the other local tax firms like us?

Here is the link to his plan -
Addition – 10/19/11 – Question raised to