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By Michael Gray

Happy Holidays!

Have a safe and joyous holiday season. May all your options be up during 2002!

No tax relief for option holders passed during 2001

Congress will recess for 2001 without passing an economic stimulus package or tax relief for option holders. As time passes from 2000, the chances for retroactive relief seem more remote.

However, Congress will be reopening economic stimulus negotiations when it returns for work in 2002. You must be persistent in your communication efforts about how urgently relief is needed.

So, during your holiday vacations, take time to write to your representatives in Congress. Right now, faxes and emails have a better chance of getting through than letters to Washington. As an alternative, write to your representatives' community offices - not to Washington.

Announcing First Graduates of 2-Day Seminar On Options Planning For Professionals

I (Michael Gray, CPA) taught the ESOAA two-day seminar for professionals, Secrets of Tax Planning For Employee Stock Options on November 29 and 30 at the South San Francisco Conference Center.

It was an intimate meeting at which I "spilled the beans" about all I know about the subject, with the intention of preparing the participants to be successful at attracting and serving option holder clients.

All of the participants have signed up to be included in the directory of professionals on our website. Before being listed, they will pass a comprehensive examination.

The participants were CPAs Pamela S. Hedblad, Pascuzzi, Hedblad & Co., San Jose, California (408-287-4793); John Branton, Branton, de Jong & Associates Accountancy Corp, San Jose, California (408-997-9212); and financial planner Gordon J. Bernhardt, CPA, PFS, CFP of Falls Church, Virginia (703-560-9295).

Audio cassettes and video tapes of the seminar, together with a comprehensive manual are available.

IRS Circular 230 Disclosure:

As required by U.S. Treasury Regulations, you are hereby advised that any written tax advice contained in this communication was not written or intended to be used (and cannot be used) by any taxpayer for the purpose of avoiding penalties that may be imposed under the U.S. Internal Revenue Code.

Consult with a tax advisor

For our readers who aren’t tax advisors, this newsletter is intended to alert you about tax issues that could affect you. It is not a substitute for advice from a professional tax advisor. You will find that getting advice from a qualified advisor is a worthwhile investment. We intend to eventually publish a directory of ESOAA members who are committed to helping clients with employee stock option issues.

Tax advisors should view the newsletter as an alert to become aware of issues relating to employee stock options for further research and study.

(Michael Gray is the co-author of Employee Stock Options – A Strategic Planning Guide for the 21st Century Optionaire. You can order the book at http://www.amazon.com or http://www.barnesandnoble.com/ or buy it at Stacey’s Books.)

P.S.

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