Comprehensive Volume C5-1 Chapter 5 Gross Income: Exclusions Copyright ©2010 Cengage Learning Comprehensive Volume

C5-2 Exclusions Defined Items of income that are specifically designated as not included in gross income Exclusions are generally found in Sections 101 through 150 Items of income that are specifically designated as not included in gross income Exclusions are generally found in Sections 101 through 150

Comprehensive Volume C5-3 Gifts and Inheritances (slide 1 of 5) Gifts are nontaxable to donee if: –Transfer is voluntary without adequate consideration, and –Made out of affection, respect, admiration, charity, or donative intent Gifts are nontaxable to donee if: –Transfer is voluntary without adequate consideration, and –Made out of affection, respect, admiration, charity, or donative intent

Comprehensive Volume C5-4 Gifts and Inheritances (slide 2 of 5) Inheritances are nontaxable to beneficiary Income earned on gifts or inheritances is taxable under normal rules –Example: Father gifts corporate bond to daughter. Gift is excluded from daughter’s gross income, but interest income earned after gift date is taxable to her. Inheritances are nontaxable to beneficiary Income earned on gifts or inheritances is taxable under normal rules –Example: Father gifts corporate bond to daughter. Gift is excluded from daughter’s gross income, but interest income earned after gift date is taxable to her.

Comprehensive Volume C5-5 Gifts and Inheritances (slide 3 of 5) Transfers by employers to employees do not qualify as excludible gifts –May be excludible under other provisions, e.g., employee achievement awards –Victims of a qualified disaster who are reimbursed by their employers for living expenses, funeral expenses, and property damage can exclude the payments from gross income Transfers by employers to employees do not qualify as excludible gifts –May be excludible under other provisions, e.g., employee achievement awards –Victims of a qualified disaster who are reimbursed by their employers for living expenses, funeral expenses, and property damage can exclude the payments from gross income

Comprehensive Volume C5-6 Gifts and Inheritances (slide 4 of 5) Employee death benefits: amount paid by employer to deceased employee’s spouse, child, or others –If decedent had a nonforfeitable right to payments (e.g., accrued salary), amounts are taxable to employee Employee death benefits: amount paid by employer to deceased employee’s spouse, child, or others –If decedent had a nonforfeitable right to payments (e.g., accrued salary), amounts are taxable to employee

Comprehensive Volume C5-7 Gifts and Inheritances (slide 5 of 5) Employee death benefits may be excludible as a gift if: Paid to surviving spouse or children (not employee’s estate) Employer derived no benefit from payments Surviving spouse and children performed no services for employer Decedent had been fully compensated for services rendered, and Payments made pursuant to board of director’s resolution under a general company policy Employee death benefits may be excludible as a gift if: Paid to surviving spouse or children (not employee’s estate) Employer derived no benefit from payments Surviving spouse and children performed no services for employer Decedent had been fully compensated for services rendered, and Payments made pursuant to board of director’s resolution under a general company policy

Comprehensive Volume C5-8 Life Insurance Proceeds (slide 1 of 5) Exempt income to beneficiary if paid solely due to death of insured –Relationship to decedent not determinative Exempt income to beneficiary if paid solely due to death of insured –Relationship to decedent not determinative

Comprehensive Volume C5-9 Life Insurance Proceeds (slide 2 of 5) If owner of life insurance policy cancels the policy and receives the cash surrender value –Gain must be recognized to extent amount received exceeds premiums paid on policy –Loss is not recognized If owner of life insurance policy cancels the policy and receives the cash surrender value –Gain must be recognized to extent amount received exceeds premiums paid on policy –Loss is not recognized

Comprehensive Volume C5-10 Life Insurance Proceeds (slide 3 of 5) Accelerated death benefits –Gain on cash surrender or transfer of life insurance policy by terminally or chronically ill individual is excludible Exclusion for chronically ill is limited to amounts used for long-term care Accelerated death benefits –Gain on cash surrender or transfer of life insurance policy by terminally or chronically ill individual is excludible Exclusion for chronically ill is limited to amounts used for long-term care

Comprehensive Volume C5-11 Life Insurance Proceeds (slide 4 of 5) Transfers for valuable consideration –If policy is transferred for valuable consideration, proceeds are taxable to extent they exceed amount paid for policy plus subsequent premiums paid –Exceptions exist for policy transfers: To facilitate funding of buy-sell agreements, Pursuant to a tax-free exchange, and For receipt of a policy by gift Transfers for valuable consideration –If policy is transferred for valuable consideration, proceeds are taxable to extent they exceed amount paid for policy plus subsequent premiums paid –Exceptions exist for policy transfers: To facilitate funding of buy-sell agreements, Pursuant to a tax-free exchange, and For receipt of a policy by gift

Comprehensive Volume C5-12 Life Insurance Proceeds (slide 5 of 5) Investment earnings arising from the reinvestment of life insurance proceeds are generally subject to income tax –The beneficiary may elect to collect the insurance proceeds in installments The annuity rules are used to apportion the installment payment between the principal element (excludible) and the interest element (includible) Investment earnings arising from the reinvestment of life insurance proceeds are generally subject to income tax –The beneficiary may elect to collect the insurance proceeds in installments The annuity rules are used to apportion the installment payment between the principal element (excludible) and the interest element (includible)

Comprehensive Volume C5-13 Scholarships and Fellowships (slide 1 of 2) An amount paid to or for the benefit of a student to aid in pursuing a degree at an educational institution –Nontaxable to extent of tuition and related expenses (e.g., fees, books, supplies, and equipment required for courses) Amounts received for room and board are taxable An amount paid to or for the benefit of a student to aid in pursuing a degree at an educational institution –Nontaxable to extent of tuition and related expenses (e.g., fees, books, supplies, and equipment required for courses) Amounts received for room and board are taxable

Comprehensive Volume C5-14 Scholarships and Fellowships (slide 2 of 2) Qualified tuition waivers or reductions by nonprofit educational institutions are excluded from income –Generally limited to undergraduate tuition waivers –Exception for graduate teaching or research assistants Qualified tuition waivers or reductions by nonprofit educational institutions are excluded from income –Generally limited to undergraduate tuition waivers –Exception for graduate teaching or research assistants

Comprehensive Volume C5-15 Damages (slide 1 of 3) Tax consequences of receipt of damages –Depends on type of harm taxpayer experienced –The taxpayer may seek damages for: Loss of income Expenses incurred Property destroyed Personal injury Tax consequences of receipt of damages –Depends on type of harm taxpayer experienced –The taxpayer may seek damages for: Loss of income Expenses incurred Property destroyed Personal injury

Comprehensive Volume C5-16 Damages (slide 2 of 3) Tax treatment of damages received for: –Loss of income Generally, taxed the same as the income replaced –Exceptions exist related to personal injury –Reimbursement for expenses incurred Not income, unless the expense was deducted –Damages that are a recovery of the taxpayer’s previously deducted expenses are generally taxable under the tax benefit rule Tax treatment of damages received for: –Loss of income Generally, taxed the same as the income replaced –Exceptions exist related to personal injury –Reimbursement for expenses incurred Not income, unless the expense was deducted –Damages that are a recovery of the taxpayer’s previously deducted expenses are generally taxable under the tax benefit rule

Comprehensive Volume C5-17 Damages (slide 3 of 3) Tax treatment of damages received for: –Property damaged or destroyed Treated as an amount received in a sale or exchange of the property – Thus, taxpayer has realized gain if damage payments exceed property’s basis –Personal injury Receives special treatment Tax treatment of damages received for: –Property damaged or destroyed Treated as an amount received in a sale or exchange of the property – Thus, taxpayer has realized gain if damage payments exceed property’s basis –Personal injury Receives special treatment

Comprehensive Volume C5-18 Compensation for Injuries and Sickness (slide 1 of 3) Personal injury damages –Compensatory damages received on account of physical personal injury or physical illness are excludible Includes amounts received for loss of income associated with the physical personal injury or physical sickness –All other personal injury damages are taxable Compensatory damages for nonphysical injury All punitive damages Personal injury damages –Compensatory damages received on account of physical personal injury or physical illness are excludible Includes amounts received for loss of income associated with the physical personal injury or physical sickness –All other personal injury damages are taxable Compensatory damages for nonphysical injury All punitive damages

Comprehensive Volume C5-19 Compensation for Injuries and Sickness (slide 2 of 3) Workers’ compensation –Although may be payment for loss of wages, workers’ compensation is specifically excluded from gross income Workers’ compensation –Although may be payment for loss of wages, workers’ compensation is specifically excluded from gross income

Comprehensive Volume C5-20 Compensation for Injuries and Sickness (slide 3 of 3) Accident and health insurance benefits –Benefits received under policy purchased by taxpayer are excludible Even if benefits are substitute for income –Different rules apply if the accident and health insurance protection was purchased by the individual’s employer Accident and health insurance benefits –Benefits received under policy purchased by taxpayer are excludible Even if benefits are substitute for income –Different rules apply if the accident and health insurance protection was purchased by the individual’s employer

Comprehensive Volume C5-21 Employer-Sponsored Accident and Health Plans (slide 1 of 3) Premiums paid by employer for insurance coverage of employee, spouse, and dependents are not taxable to employee Amounts received from insurance are not taxable when received for medical care or for permanent loss of body part or function Premiums paid by employer for insurance coverage of employee, spouse, and dependents are not taxable to employee Amounts received from insurance are not taxable when received for medical care or for permanent loss of body part or function

Comprehensive Volume C5-22 Employer-Sponsored Accident and Health Plans (slide 2 of 3) Payments for expenses that do not meet the Code’s definition of medical care must be included in gross income Amounts received for medical expenses deducted on a prior return must be included in gross income Payments for expenses that do not meet the Code’s definition of medical care must be included in gross income Amounts received for medical expenses deducted on a prior return must be included in gross income

Comprehensive Volume C5-23 Employer-Sponsored Accident and Health Plans (slide 3 of 3) Health Savings Accounts (high deductible insurance plans) –Employer contribution to HSA and earnings on funds in the account are excludible Contributions limited to 100% of deductible amount for individual or family coverage –Monthly deductible amount is limited to the lesser of: One twelfth of the annual deductible under a high deductible plan or $3,000 for self-only ($5,950 for family coverage) –Withdrawals from HSA are excludible to the extent used for qualified medical expenses Health Savings Accounts (high deductible insurance plans) –Employer contribution to HSA and earnings on funds in the account are excludible Contributions limited to 100% of deductible amount for individual or family coverage –Monthly deductible amount is limited to the lesser of: One twelfth of the annual deductible under a high deductible plan or $3,000 for self-only ($5,950 for family coverage) –Withdrawals from HSA are excludible to the extent used for qualified medical expenses

Comprehensive Volume C5-24 Long-Term Care Insurance (slide 1 of 2) Employer paid insurance premiums for employee’s long- term care are excludible subject to annual limits as follows: Insured’s Age before Close of Tax Year or less $ 310$ to to 60 1,150 1, to 70 3,080 3,180 More than 70 3,850 3,980 Employer paid insurance premiums for employee’s long- term care are excludible subject to annual limits as follows: Insured’s Age before Close of Tax Year or less $ 310$ to to 60 1,150 1, to 70 3,080 3,180 More than 70 3,850 3,980

Comprehensive Volume C5-25 Long-Term Care Insurance (slide 2 of 2) Exclusion of benefits received from policy is limited to the greater of: $280 in 2009 for each day patient receives long-term care (indexed amount for 2008 is $270) The actual cost of the care –Reduced by any amounts received from other third parties (e.g., damages received) Exclusion of benefits received from policy is limited to the greater of: $280 in 2009 for each day patient receives long-term care (indexed amount for 2008 is $270) The actual cost of the care –Reduced by any amounts received from other third parties (e.g., damages received)

Comprehensive Volume C5-26 Meals and Lodging Not taxable to employee if: –Furnished by employer On employer’s business premises For convenience of employer –In the case of lodging, employee is required to accept lodging as a condition of employment Not taxable to employee if: –Furnished by employer On employer’s business premises For convenience of employer –In the case of lodging, employee is required to accept lodging as a condition of employment

Comprehensive Volume C5-27 Other Fringe Benefits (slide 1 of 3) Dependent care –Up to $5,000 of care costs paid for by employer can be excluded Athletic facilities –Value of use of athletic facilities located on employer premises can be excluded Dependent care –Up to $5,000 of care costs paid for by employer can be excluded Athletic facilities –Value of use of athletic facilities located on employer premises can be excluded

Comprehensive Volume C5-28 Other Fringe Benefits (slide 2 of 3) Educational assistance programs –Employer-provided educational assistance for undergraduate and graduate education is excludible Exclusion limited to $5,250 per year Includes tuition, fees, books, and supplies Educational assistance programs –Employer-provided educational assistance for undergraduate and graduate education is excludible Exclusion limited to $5,250 per year Includes tuition, fees, books, and supplies

Comprehensive Volume C5-29 Other Fringe Benefits (slide 3 of 3) Adoption assistance programs –Employee adoption expenses paid or reimbursed by employer are excludible Exclusion limited to $12,150 Exclusion phases-out as AGI increases from $182,180 to $222,180 Adoption assistance programs –Employee adoption expenses paid or reimbursed by employer are excludible Exclusion limited to $12,150 Exclusion phases-out as AGI increases from $182,180 to $222,180

Comprehensive Volume C5-30 Cafeteria Plans Allow employees to choose between cash and certain nontaxable benefits –If cash is chosen, the amount received is taxable –If a nontaxable benefit is chosen, the benefit remains nontaxable Provide tremendous flexibility in tailoring the employee pay package to fit individual needs Allow employees to choose between cash and certain nontaxable benefits –If cash is chosen, the amount received is taxable –If a nontaxable benefit is chosen, the benefit remains nontaxable Provide tremendous flexibility in tailoring the employee pay package to fit individual needs

Comprehensive Volume C5-31 Flexible Spending Plans Allow employees to accept lower cash compensation in return for employer agreeing to pay certain costs without the employee recognizing income –Called a use or lose plan since reduction in pay cannot be recovered if covered expenses are less than expected Recently issued IRS rules allow a 2 ½ month grace period (until the 15 th day of the 3 rd month after the end of the plan year) to use the funds for qualified expenses Allow employees to accept lower cash compensation in return for employer agreeing to pay certain costs without the employee recognizing income –Called a use or lose plan since reduction in pay cannot be recovered if covered expenses are less than expected Recently issued IRS rules allow a 2 ½ month grace period (until the 15 th day of the 3 rd month after the end of the plan year) to use the funds for qualified expenses

Comprehensive Volume C5-32 Classes of Nontaxable Employee Benefits No-additional-cost services Qualified employee discounts Working condition fringes De minimis fringes Qualified transportation fringes Qualified moving expense reimbursements Qualified retirement planning services No-additional-cost services Qualified employee discounts Working condition fringes De minimis fringes Qualified transportation fringes Qualified moving expense reimbursements Qualified retirement planning services

Comprehensive Volume C5-33 No Additional Cost Services Are nontaxable if: –Employee receives services (not property) –Employer incurs no substantial additional cost in providing the services –Services offered are within line of business in which employee works –Benefit is offered on nondiscriminatory basis Are nontaxable if: –Employee receives services (not property) –Employer incurs no substantial additional cost in providing the services –Services offered are within line of business in which employee works –Benefit is offered on nondiscriminatory basis

Comprehensive Volume C5-34 Qualified Employee Discounts Are nontaxable if: –Discount is not on realty or investment property –Item discounted is from same line of business in which employee works –Discount cannot exceed gross profit on property or 20% of the customer price on services –Benefit is offered on nondiscriminatory basis Are nontaxable if: –Discount is not on realty or investment property –Item discounted is from same line of business in which employee works –Discount cannot exceed gross profit on property or 20% of the customer price on services –Benefit is offered on nondiscriminatory basis

Comprehensive Volume C5-35 Working Condition Fringes Not taxable if employee could have deducted cost of item if they had actually paid for them –Includes personal use of auto by full-time auto salespeople and employee business expenses that would be eliminated by the 2% floor on miscellaneous deductions Not taxable if employee could have deducted cost of item if they had actually paid for them –Includes personal use of auto by full-time auto salespeople and employee business expenses that would be eliminated by the 2% floor on miscellaneous deductions

Comprehensive Volume C5-36 De Minimis Fringes (slide 1 of 2) These benefits are so small that accounting for them is impractical –Examples include: Supper money Occasional personal use of company copying machine Company cocktail parties Picnics for employees These benefits are so small that accounting for them is impractical –Examples include: Supper money Occasional personal use of company copying machine Company cocktail parties Picnics for employees

Comprehensive Volume C5-37 De Minimis Fringes (slide 2 of 2) Subsidized eating facilities operated by employer are excluded if: –Located on or near employer’s premises –Revenue equals or exceeds direct operating costs –Nondiscrimination requirements are met Subsidized eating facilities operated by employer are excluded if: –Located on or near employer’s premises –Revenue equals or exceeds direct operating costs –Nondiscrimination requirements are met

Comprehensive Volume C5-38 Qualified Transportation Fringes This fringe benefit is designed to encourage the use of mass transit for commuting to work –Includes: Transportation in commuter highway vehicle and transit passes –Limit on the exclusion for 2009 was originally set at $120 per month ($115 in 2008) –However, ARRTA of 2009 increased this amount to $230 a month (starting in March 2009) and carries it through 2010 Qualified parking (limited to $230 per month) –May be provided directly by the employer or may be in the form of cash reimbursements This fringe benefit is designed to encourage the use of mass transit for commuting to work –Includes: Transportation in commuter highway vehicle and transit passes –Limit on the exclusion for 2009 was originally set at $120 per month ($115 in 2008) –However, ARRTA of 2009 increased this amount to $230 a month (starting in March 2009) and carries it through 2010 Qualified parking (limited to $230 per month) –May be provided directly by the employer or may be in the form of cash reimbursements

Comprehensive Volume C5-39 Moving Expenses Employer payment or reimbursement of employee’s qualified moving expenses is excludible –No deduction by employee is allowed for reimbursed moving expenses Employer payment or reimbursement of employee’s qualified moving expenses is excludible –No deduction by employee is allowed for reimbursed moving expenses

Comprehensive Volume C5-40 Qualified Retirement Planning Services Value of any retirement planning advice or information provided by employer who maintains a qualified retirement plan is excluded from income –Designed to motivate more employers to provide retirement planning services Value of any retirement planning advice or information provided by employer who maintains a qualified retirement plan is excluded from income –Designed to motivate more employers to provide retirement planning services

Comprehensive Volume C5-41 Nondiscrimination Provisions For no-additional-cost services, qualified employee discounts, and qualified retirement planning services –If the plan is discriminatory in favor of highly compensated employees, these key employees are denied exclusion treatment –Non-highly compensated employees can still exclude these benefits from income For no-additional-cost services, qualified employee discounts, and qualified retirement planning services –If the plan is discriminatory in favor of highly compensated employees, these key employees are denied exclusion treatment –Non-highly compensated employees can still exclude these benefits from income

Comprehensive Volume C5-42 Foreign Earned Income (slide 1 of 2) Income from personal services in a foreign country can be excluded from income To qualify for the exclusion, must be either: –A bona fide resident of foreign country, or –Present in foreign country at least 330 days during any 12 consecutive months Income from personal services in a foreign country can be excluded from income To qualify for the exclusion, must be either: –A bona fide resident of foreign country, or –Present in foreign country at least 330 days during any 12 consecutive months

Comprehensive Volume C5-43 Foreign Earned Income (slide 2 of 2) Exclusion amount is limited to $91,400 –For married persons, both of whom have foreign earned income, the exclusion is computed separately for each spouse In addition, reasonable housing costs in excess of a base amount may be excluded from gross income –The base amount is 16% of the statutory amount ($91,400 for 2009) assuming all days are qualifying days for the foreign earned income exclusion –The housing costs exclusion is limited to 30% of the statutory amount (as indexed) for the foreign earned income exclusion Exclusion amount is limited to $91,400 –For married persons, both of whom have foreign earned income, the exclusion is computed separately for each spouse In addition, reasonable housing costs in excess of a base amount may be excluded from gross income –The base amount is 16% of the statutory amount ($91,400 for 2009) assuming all days are qualifying days for the foreign earned income exclusion –The housing costs exclusion is limited to 30% of the statutory amount (as indexed) for the foreign earned income exclusion

Comprehensive Volume C5-44 Interest on State and Local Government Obligations Interest from municipal bonds is tax exempt –Reduces borrowing costs of state and local governments –High-income taxpayers can increase after-tax yields with municipal bonds –Municipal interest is considered for Social Security benefits inclusion and may be considered for alternative minimum tax calculation Interest from municipal bonds is tax exempt –Reduces borrowing costs of state and local governments –High-income taxpayers can increase after-tax yields with municipal bonds –Municipal interest is considered for Social Security benefits inclusion and may be considered for alternative minimum tax calculation

Comprehensive Volume C5-45 Dividends Taxable to extent paid out of either current or accumulated earnings and profits (E&P) Dividends in excess of E&P are treated: –As nontaxable return of capital to extent of stock basis (which is reduced) –As capital gain to extent in excess of basis Taxable to extent paid out of either current or accumulated earnings and profits (E&P) Dividends in excess of E&P are treated: –As nontaxable return of capital to extent of stock basis (which is reduced) –As capital gain to extent in excess of basis

Comprehensive Volume C5-46 Stock Dividends Stock dividends (e.g., common stock issued to common shareholders) are not taxable –If shareholder has the option to receive stock or cash, the dividend is taxable whether the shareholder receives cash or stock Stock dividends (e.g., common stock issued to common shareholders) are not taxable –If shareholder has the option to receive stock or cash, the dividend is taxable whether the shareholder receives cash or stock

Comprehensive Volume C5-47 Educational Savings Bonds Interest on Series EE U.S. Savings Bonds may be excluded from income if: –Proceeds used to pay for qualified higher educational expenses –Bonds issued after 12/31/89, and –Bonds issued to person at least 24 years old Exclusion is phased-out once modified AGI exceeds threshold amount Interest on Series EE U.S. Savings Bonds may be excluded from income if: –Proceeds used to pay for qualified higher educational expenses –Bonds issued after 12/31/89, and –Bonds issued to person at least 24 years old Exclusion is phased-out once modified AGI exceeds threshold amount

Comprehensive Volume C5-48 Qualified Tuition Programs (slide 1 of 2) Amounts contributed must be used to pay qualified higher education expenses –Includes tuition, fees, books, supplies, room and board, and equipment –ARRTA of 2009 extends the definition to include computers and computer technology, including software that provides access to the Internet Amounts contributed must be used to pay qualified higher education expenses –Includes tuition, fees, books, supplies, room and board, and equipment –ARRTA of 2009 extends the definition to include computers and computer technology, including software that provides access to the Internet

Comprehensive Volume C5-49 Qualified Tuition Programs (slide 2 of 2) Earnings on contributions, including discounted tuition for plan participants, are not taxable if used for qualified higher education expenses –Refunds from program are taxable to the extent they exceed contributions Earnings on contributions, including discounted tuition for plan participants, are not taxable if used for qualified higher education expenses –Refunds from program are taxable to the extent they exceed contributions

Comprehensive Volume C5-50 Tax Benefit Rule If taxpayer claims a deduction for an item in one year and in a later year recovers all or a portion of the prior deduction, the recovery is included in gross income –Amount included in income is limited to the amount for which a tax benefit was received If taxpayer claims a deduction for an item in one year and in a later year recovers all or a portion of the prior deduction, the recovery is included in gross income –Amount included in income is limited to the amount for which a tax benefit was received

Comprehensive Volume C5-51 Discharge from Indebtedness Income from the forgiveness of debt is taxable –Certain discharge of indebtedness situations get special treatment: Creditors’ gifts Discharges in bankruptcy and when debtor is insolvent Discharge of farm debt Discharge of qualified real property business indebtedness Seller’s cancellation of buyer’s debt Shareholder’s cancellation of corporation’s debt Forgiveness of certain student loans Discharge of indebtedness on taxpayer’s principal residence that occurs between Jan. 1, 2007 and Jan. 1, 2013, and is the result of the financial condition of the debtor Income from the forgiveness of debt is taxable –Certain discharge of indebtedness situations get special treatment: Creditors’ gifts Discharges in bankruptcy and when debtor is insolvent Discharge of farm debt Discharge of qualified real property business indebtedness Seller’s cancellation of buyer’s debt Shareholder’s cancellation of corporation’s debt Forgiveness of certain student loans Discharge of indebtedness on taxpayer’s principal residence that occurs between Jan. 1, 2007 and Jan. 1, 2013, and is the result of the financial condition of the debtor

Comprehensive Volume C5-52 If you have any comments or suggestions concerning this PowerPoint Presentation for South-Western Federal Taxation, please contact: Dr. Donald R. Trippeer, CPA SUNY Oneonta If you have any comments or suggestions concerning this PowerPoint Presentation for South-Western Federal Taxation, please contact: Dr. Donald R. Trippeer, CPA SUNY Oneonta