Next week, there will be no visiting speaker, however, Local CPA’s Jim Thompson and Al Creswell will take to the podium and discuss many of the individual and business provisions of the tax bills passed during 2010. Although Congress enacted several bills throughout 2010, the most significant tax legislation of the year was enacted in the waning days of the 111th Congress. The 2010 Tax Relief Act provided, among other things, a two-year extension of the individual tax rate structure, including the maximum tax rates on qualified dividends and long-term capital gains.

Three weeks ago, Dr. Bheki Khumalo held a captive audience as he described what it was like growing up and getting an education in South Africa.

Dr. Khumalo grew up in Johannesburg South Africa, saying, what you see at the present as far as the media coverage of the country, does not depict the way it was when he was growing up there. "South Africa had two classes of people at that time, you had the 1st world and the 3rd world class in the same country", he said. According to him it was the Dutch and the English in the 1st world, who decided to pool their resources to enjoy the country more, but unfortunately it was at the expense of the 3rd world people, who were the Zulu tribe which Dr. Khumalo is a member of. He said "Growing up in So. Africa wasn’t so bad, because I didn’t know there was anything better". However he said, "my parents knew that the only thing that could get us out of there was to try to educate us". His parents moved them several times in order to further their education, finally graduating high school and then back home to South Africa. From there he enrolled in a Catholic School where he was able to obtain a full scholarship to come to the United States.

He observed his first picture of Nelson Mandela after arriving in the United States, saying you were prohibited of speaking of the man in his home country for fear of being thrown in jail. When he arrived in the United States he said he was also amazed by seeing white people working, after growing up in such a different culture.

Dr. Khumalo is now in a school of divinity, not to take to the pulpit he said, but he sees places all over the world which are similar to what he grew up in and he wants to lend a hand to these people and be a part of a mission team, either local or global.

He ended his presentation talking about how he ended up in Union City and taking over the practice at Raine’s Foot Clinic and he had a very interesting question and answer period.

Jan. 14 - Al Creswell & Jim Thompson - New tax laws of 2010

Jan. 21 - TBA

Jan. 28 - TBA

Jan. 09 - Bill Tanner

Jan. 12 - Doug Carter

Jan. 12 - Nick Hall

Jan. 13 - Bob Sanner

Jan. 07 - Peter and Laura Katz

Jan. 07 - Steve and Sally Vaughn

Jan. 08 - Jimmy and Karen White