Chamber to hold tax workshop

The Saipan Chamber of Commerce will be holding its annual tax workshop on March 6 at the Aqua Resort Club from 8:00am to 12noon.

The Board of Directors is extending an invitation to all members of the community to attend this very important and informative seminar.

Cost for attending is $20 for Chamber members and $25 for non-chamber members. The cost includes handouts and continental breakfast. The price does not include lunch. However, the Aqua Resort Hotel has extended a special $10 buffet lunch price for all participants of the tax workshop at the Costa Restaurant.

“Once again the Chamber is providing an essential public service and has pulled together an outstanding panel of professional accountants and tax specialists from within our own Chamber membership” said Events Committee Chairman and Chamber Director Alex Sablan whose committee is organizing the event.

“This is one opportunity to have all our accounting firms come together to provide much needed tax assistance and guidance to chamber members and to the CNMI community. We are very grateful that they are all volunteering their time to us, especially during this extremely busy tax preparation season,” said Mr. Sablan.

This year’s panel of experts include Dave Burger of Burger & Comer P.C., Jim Gittleson from Deloitte Touche Tohmatsu, Tony Muna of Sine & Muna, Edmund Brobesong or Ernst & Young, and experts from the CNMI Division of Revenue and Taxation Dora Taitingfong and Pauline Kapileo.

The CNMI Division of Revenue and Taxation will alert filers to new tax information that will be of great interest to participants this year. They will also provide insight on how to properly submit tax returns.

This year’s workshop will include instructions on how to file individual and corporate tax returns, earned income credit computations, managing income that is sourced “within” and “without” the CNMI and how to properly enter those numbers in your tax return.

Participants will also learn and understand the nuances to preparing Schedule A Itemized Deductions and Schedule C Self-Employment Tax. Proper tax planning also includes looking to the future.

There will also be special attention to understanding retirement planning vehicles and their limitations of deductibility.