Hurricane Wilma!

Due to Hurricane Wilma and extended power outages, we have not been able to do our regular blog posting. We hope to get things back to normal sometime this week. To those of you in South Florida, we wish you a speedy recovery from the storm.

Applicable Federal Rates - Update for November 2005

November 2005 Applicable Federal Rates Summary (Rev.Rul. 2005-71):

-Short Term AFR - Semi-annual Compounding - 4% - (3.89%/Oct. -- 3.9%/Sept.)

-Mid Term AFR - Semi-annual Compounding - 4.19% - (4.08%/Oct. -- 4.19%/Sept.)

-Long Term AFR - Semi-annual Compounding - 4.52% - (4.40%/Oct. -- 4.52%/Sept.)

IRS Guidance for Private Foundations

Does your family operate a private foundation? Are you the CPA or attorney for a private foundation? Are you curious about private foundations? The IRS now has a website on the life cycle of a private foundation, with lots of information regarding setting up, operating, and terminating one.

The link is http://www.irs.gov/charities/charitable
/article/0,,id=127912,00.html.