June 2013 ASCPA Magazine

ALABAMA CPA MAGAZINE I JUNE 2013

Strategic Plan Update See Pages 4-5

The Alabama CPA MAGAZINE Alabama Society of Certified Public Accountants P.O. Box 242987 Montgomery, Alabama 36124-2987 1-800-227-1711 334-834-7650 www.ascpa.org Officers Renee B. Hubbard, Chair Don McCleod, Chair-Elect Dr. Lowell S. Broom, Vice-Chair James R. L. Carroll, Secretary-Treasurer Steven A. Shelton, Past Chair Board of Directors James Adam Causey Allison H. Guice Paul Marcus Hamilton Kate J. Ham Sharon S. Jackson Robert Rush Letson III Bradford A. Lynch Jason L. Miller Amanda N. Paul Michael C. Reibling Matthew T. Roeder Lewis T. Shreve Chasity L. Sweatmon Daniel K. Tew Alison Nicole Cunningham, Young CPA Lindsey S. Weems, Young CPA AICPA Council Members William H. Carr Renee B. Hubbard E. Lamar Reeves Jimmy L. Williamson,

Message from the Chair...

Like many of you in public accounting, I have just finished my busy season and am looking forward to some time “away from the office” over the next few months. And while “away from the office” will definitely include some much needed family time and packing up my youngest for college, it will also include meetings and conferences to acquire new ideas.

In May, I had the opportunity to attend the annual ASCPA Women’s Summit. This was the 5th Summit and Jennifer Oleksa organized another wonderful event. The Summit not only includes excellent speakers, but is also an awesome opportunity for women in our profession to network and learn from each other. This year, the agenda included a panel discussion on mentoring. This topic was of particular interest to me because I lead our firm’s recruiting efforts and I truly believe that mentoring is the key to success for any new CPA - whether they have chosen public accounting, industry or government. While a formal mentoring program may be helpful in a larger organization to ensure success, it is not necessary. Really, all that is required is a mentor and a mentee who want to work and learn together. So I would like to encourage you to make a difference and find a young CPA that you can mentor this year.

The month of May also provided me the opportunity to participate in the ASCPA Board Retreat and graduation of the ASCPA Leadership Academy Class II. If you have not had the opportunity to send a young CPA to the LEADERSHIP ACADEMY, you are truly missing out on a great opportunity. The academy is led by Rainmaker Companies of Nashville and includes personal coaching from experienced consultants.

A dear friend and I started off this year by choosing a focus word for 2013. I chose the word THANKFUL. All of us can find something each day for which we are thankful and I would like to close with that in mind. Thanks to Steve Shelton for his guidance over the past year and to the team we have in place at the ASCPA under Jeannine’s leadership. Thanks to all of you for placing your confidence in me. And last, but not least, thanks to my family and everyone at Jackson Thornton for their support – I am always quick to remind all of them “it takes a village.” I look forward to serving you this next year as the Chair of the ASCPA.

Renee

Past Chair, AICPA The Alabama CPA Magazine is published by Alabama Society of Certified Public Accountants as a membership service to Society members.

Views and opinions appearing in this publication are not necessarily endorsed by the ASCPA. The deadline for submitting materials for publication is the first of the month preceding issue date.

Jeannine P. Birmingham, CPA, CAE, CGMA President and CEO Diane L. Christy, Editor Annual Board of Directors Leadership Retreat

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Peer Review

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The Alabama CPA MAGAZINE

Renee Hubbard

Meet the Chair...

The Alabama CPA MAGAZINE

few years my senior, who provided great leadership and direction – both professionally and personally. While my female mentors were very important, I cannot begin to name the other partners at the firm (retired and current) who have meant so very much to me.”

Initially, Renee worked in both tax and audit, with a focus in the construction industry. In the

mid-1990s, she was asked to manage the firm’s tax practice, and still fills that role today.

Hubbard was named a partner in 1997. With Jim Pope’s retirement, she is now directing the firm’s campus recruiting efforts.

“While I have enjoyed all my roles at JT, I must say that recruiting and employee Continued on page 4

GR WTH It’s what CGMA stands for.

A new designation representing accomplished professionals that drive and deliver business success, worldwide.

Find out more at cgma.org

Copyright © 2012 American Institute of CPAs. All rights reserved.

R

enee Hubbard grew up in Marion, Alabama, on the family dairy farm where hard work and long hours as a family was the norm.

According to Renee, “Well, actually it wasn’t IN Marion, but that was the closest town. It was definitely the country.”

She and her younger brother were required to help out from an early age. Renee was active in 4H, entering district and state competitions with calves, horses, sewing and baking projects. She figures keeping all those records for 4H really prepared her for timesheets!

Once she was 16, she asked to be removed from the weekend and holiday 3:00 am/5:00 pm milking rotation and began her first parttime job at a local clothing store - where the hours were much more reasonable. She looked forward to following in the family path and after high school graduation, off to Auburn University she went. While her dad didn’t specifically suggest she major in accounting, he did want Renee to be independent and be able to make her own way in the world. While leaving for college was very exciting, Renee and Kenny Hubbard (her high school sweetheart) quickly found themselves on different sides of the state; he was attending the University of Alabama. Needless to say, long drives up and down U.S. Hwy 82 were the norm for much of their college careers.

While attending an Auburn vs. Georgia football game, Renee met the wife of Jim Pope, who was a partner and recruiter for Jackson Thornton until his retirement last year.

Renee shared that she was soon graduating with an accounting degree and Mrs. Pope introduced her to Jim. With an offer from Jackson Thornton in hand, Renee and Kenny decided that Montgomery would be where they would begin both their careers and married lives together.

“The firm was a perfect fit for me. It was large enough to provide many opportunities, across many areas of expertise, but small enough to have the family atmosphere I desired. The last 28 years have flown by and Jackson Thornton has provided me many chances to develop both professionally and personally.”

If there was one characteristic of the firm culture at Jackson Thornton which stood out to Renee, it was their approach towards the female professionals and the importance of family.

“I had many female role models, just a

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Meet the Chair – Renee Hubbard Continued from page 3 development may be my favorites. They’re not the easiest to perform, but the results are so fulfilling.”

In 28 years, Renee says that she’s seen significant changes in how she works every day.

• In the 1980s, she had a Compaq computer with an 8”x8” screen. It weighted about 30 pounds. Now it’s a laptop and several monitors.

• Client files were carried around in large trunks and now they are stored on flash drives the size of a finger.

• Tax returns were prepared on “input sheets” and then sent off to a data center for processing. Today, documents are scanned directly into tax software.

• Mail came via the US Postal Service so clients thought a week’s turnaround was really good. These days, clients want an immediate email response, even if you are out of the office!

Leadership Retreat

A

s the ASCPA’s fiscal year drew to a close, the Society’s Board of Directors gathered for its quarterly meeting and annual Leadership Retreat. Joining the current board for two days were incoming board members, along with invited guests who represented committees, task forces, or specific segments of the ASCPA membership. Leading the group for the second year was Gary Bolinger, CAE, President and CEO of the Indiana CPA Society. Bolinger likes to challenge traditional thinking about organizational structure within non-profits, making him a great choice to direct the discussion.

“Why? Why do it that way? Where’s the benefit to your members?”

His consistent questioning forced the board and staff to look impartially at current practices and to consider other possibilities. Creating discomfort within the status quo, entertaining the use of new technology, and determining new priorities were the goals.

There was a good mix of young and not-so-young, experienced and novice board members. They represented public accounting firms,

• Pencils and Pentels are now laptops and tablets. “ We used to pack a briefcase to take work elsewhere but technology allows us to access information from anywhere, at any time. Our internal IT department is the best.”

Renee commented that changes are happening at such a fast pace that she hardly has time to get comfortable with a new rule or regulation before she has to adopt a newer one. The roller coaster economy, the demands of clients and remaining ahead of the compliance curve are all stressful. In spite of that stress, she felt compelled to take on involvement in the Society as a way to give back to the profession.

“I really enjoy working with other CPAs on projects that will benefit all of us. I have volunteered to serve on both the federal and state tax committees (it’s hard to say “NO” to Jeannine), and I’ve enjoyed meeting CPAs from around the state.”

And her involvement outside of work does not begin and end with the ASCPA. “I enjoy working with people, especially children, and have volunteered with the River Region United Way and Brantwood Children’s Home. For the last few years, I’ve focused my time with the Youth Ministry at Frazer United Methodist Church. It’s been a natural outreach as a mom of two boys, to work with other young people. Now that my boys are out of high school, I want to concentrate on programs which benefit single, working mothers.”

With her son Daniel attending the University of Alabama and son David entering UA as a freshman this fall (Dad obviously has the upper hand here - Renee says they do not sit together at UA-AU football games if possible), there are some new challenges which she wants to tackle.

“I golf a little (thanks to the firm’s golfer influence) and would like to take some lessons, so I can be part of a foursome from the office on occasion. Kenny golfs too, so that will be something we can enjoy together. I’m excited about moving into a new phase of our lives, and this year as Chair is part of that.”

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The Alabama CPA MAGAZINE

Focuses on Future of the Alabama Society resources to chapters; with few tangible or long-lasting results. Will there still be some kind of link between members in their geographic areas?

Of course, it’s vital to keep those networks humming. But they may not end up being “chapters”. They might be interest-based groups instead.

Members, please provide feedback to the Society on what would appeal to you and promote your professional growth.

The second initiative will take more time to fully implement, but speaks to a core purpose of the Society: to give members multiple platforms for networking and learning.

BUILD A KNOWLEDGE NETWORK

Nicole Cunningham, Mauldin & Jenkins and Don McCleod, sole proprietor. government, industry, education and two were sole practitioners. There were Young CPA representatives from their board and several had either been through the ASCPA Leadership Academy already, or were starting Class III the next day. At one point, the conversation was about MOOCs – a term which brought the group to a standstill. The acronym stands for massive online open course and was discussed in the context of education offerings. No suggestion was shouted down, lots of unfamiliar territory was explored.

Bolinger gave the group a ton of exercises. “What are the two or three most crucial issues facing the Society in the near term?” Each table group talked about the topic, made some notes, elected a spokesperson and inevitably got mired in deep conversation. Alliances were created, sort of like on those survival reality shows!

More discussions took place at the picnic supper at the end of day one. Everyone ate dinner, and then played musical chairs, moving around to spend time with someone they wanted to meet or to discuss a point from earlier in the day.

So, what’s the end result of two days of deep thinking, excellent facilitating; truly examining the mission and values of the ASCPA? The consensus was that there were two primary concerns the Society must study in order to remain relevant to members, and especially to those younger members who will assume leadership in the next five to ten years.

If you’re in public accounting, does your firm belong to a consortium or alliance of firms? Do they act as a databank for information which you need, but don’t have within your own organization? But what if you’re a member of a smaller firm or in industry or government? Where can you brainstorm or obtain resources? That seems like a gap the ASCPA could fill. Can the Society create niche groups who meet periodically via webinar or in person? Maybe. Are there options for education, for sharing of best practices, for using the power of bulk purchase to help sole proprietors (and others) obtain resources beyond their budgets?

Possibly. There are so many options to explore and this project will be rolled out in increments. The same process will be set in motion – a task force of members and staff will look at short and long-term options, present regular reports to the board and begin implementation by end of calendar year.

WHERE DO YOU FIT IN? This work is not just for the board of directors, officers or ASCPA staff. It is work which is most successful using the direct feedback and participation of members. Would YOU like to be involved in moving the Society into the future? Contact Jeannine Birmingham to volunteer, jbirmingham@ascpa.org, 334.834.7650.

EXAMINE GOVERNANCE AND RECOMMEND CHANGES Not what you were expecting, perhaps? It’s definitely a departure from “Revamping CPE”, ”Improving communication”, which tended to be on the list each year. And what does “governance” even mean?

Governance pertains to all aspects of the ASCPA’s structure: board of directors, chapters, standing committees, task forces and Young CPA board. In short, everything. The board will create a task force, present reports at quarterly meetings, and implement changes by end of fiscal 2013.

What was the catalyst behind this? It was the chapter system, slowly dying as an essential part of CPA professional life. A lot of energy had been spent in discussing why chapters were no longer lively, in training chapter officers, in attempting to pump up the chapters, offering

The Alabama CPA MAGAZINE

Luke Kinzer (left) and Leah DellaCalce (center) were in town for Leadership Academy Class III and joined Anglin Reichman colleague Jason Miller (Class II) at dinner.

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Matthew Lazenby and Nick D’Alessandro work on an exercise

LEADERSHIP ACADEMY CLASS III Tim Adams, Crow Shields Bailey, Mobile Mary Kathryn Allen, Horne LLP, Ridgeland, MS Matthew Bailey, BKD Jackson, MS Patrick Barker, Dent Baker & Co., Birmingham John Barrow, Horne LLP Lucedale, MS Brad Benson, Anglin Reichmann, Huntsville Tuan Blank, Jackson Thornton, Dothan Mallory Bradley, Sellers Richardson, Birmingham Cindy Bryan, Moses, Phillips, Young, Brannon & Henninger, Birmingham Catherine (Kitty) Croom, Culotta Scroggins Hendricks & Gillespie, Birmingham Nicole Cunningham, Mauldin & Jenkins, Birmingham Nick D’Alessandro, BMSS, Birmingham Monica Davis, University of Alabama, Tuscaloosa Leah Della, Calce Anglin Reichmann, Huntsville Edward Foster, Sellers Richardson, Birmingham Lucy Gates, Joseph DeCosimo & Company, Chattanooga, TN Brian Grainger, Horton Lee, Birmingham Allison Guice, Jackson Thornton, Montgomery Luke Kinzer, Anglin Reichmann, Huntsville Matthew Lazenby, ALFA, Montgomery Sarah Malcom, Forensic Strategic Solutions, Inc., Birmingham Heather Melson, Pearce Bevill Leesburg Moore, Birmingham Carlton Melton, McNorton, Ishee & Jones, Mobile Kyle Melvin, Culotta Scroggins Hendricks & Gillespie, Vestavia Hills Richard Mendelsohn, Stern Cohen LLP, Toronto, Canada Ryan Miller, Mauldin & Jenkins, Birmingham Jerry Murdick, Brown CPA Group, Northbrook, IL Greg Pepin, Reynolds & Rowella, Ridgefield, CT Chris Perry, Regions Bank, Birmingham Kimberly (Kim) Perry, Joseph DeCosimo & Company, Chattanooga, TN Jeff Sims, Dent Baker & Co., Birmingham Jenna Sticklen, Pearce Bevill Leesburg Moore, Birmingham Erin Sylvia, Wilkins Miller, Mobile Will Thistle, Bradley Arant, Birmingham

Sarah Malcom

CLASS II AWARDS

Richard Mendelsohn

Jennifer Taylor and Rachel Taylor received Spirit Awards

Ryan Damrich received the Firm Project Award.

Keina Houser and Renee Hubbard of Jackson Thorton.

Keina received the Class II Foresight Award.

Grant Williams, BMSS, Birmingham 6

THE ALABAMA CPA MAGAZINE

Zoebelein on Tax

The Tangible Property and Repair Regulations –

Dark Clouds on the Horizon Now is the time to start developing strategies for your clients before the 2014 effective date.

T

By Tom Zoebelein, CPA

he Internal Revenue Service issued the proposed regulations on December 23, 2011 with an unbelievable effective date nine days later, on January 1, 2012. Needless to say, the effective date was quickly delayed until January 1, 2014. The regulations are presently in proposed form but the final version is scheduled to be released this year.

The property regulations are pretty pervasive, impacting most, if not all, of our clients. Which is why we need to take some time now to develop strategies for implementation, rather than waiting until January 2014.

The regulations focus on a myriad of issues related to acquisition, maintenance, and disposition of tangible property. The regulations set new policies for the treatment of materials and supplies, traditional capitalization floors (expensing assets which are under a certain dollar amount) and finally, the treatment of repairs and maintenance. The repairs and maintenance policies will resurrect the old familiar battle over capital verses expense. The proposed regulations have been criticized, including by the AICPA, for their lack of an ascertainable standard in the area of maintenance and repairs. The repair section of the regulation will result in more repairs being capitalized that had previously been expensed.

This brings me back to my industry days of the mid-to-late 1970s, fighting this very same issue with the IRS on examination. To quote NY Yankee player/manager Yogi Berra, “This is deja vu all over again”.

The regulations slice and dice fixed assets into what the regulation refers to as a unit of property. The breakdown to this level is solely to measure whether a cost incurred is expensed or capitalized. This applies to both real and personal property. The unit of property is a functional unit, comprised of many parts which are all interconnected and work together as a single unit. The best example is a computer; once the outer case is removed all parts inside are required for the computer to function. The printer is not a necessary part for the computer to function, so it is a separate unit of property. Components of a single asset can have multiple units when one component has a different MACRS life and method to The Alabama CPA MAGAZINE

overall main property unit. The best example of such a situation is with the tractor trailer assets in the trucking business. The tires can have a different method of depreciation than that of the tractor and the trailer.

The multiple units of property can also be applied to buildings; under the regulation there are two basic groups the first is building structure and the second is the building’s systems. The building structure can further be broken down in its components, with the help of a cost segregation study. The advantage to a cost segregation of the building is first potential shorter lives on some components and second when a major repairs is required the new regulations allow the retirement of that component and an immediate write off of remain net tax value of that component (also requires the general asset account election). The cost segregation will also provide the value of each component. The building system components under the eegulation are as follows: 1. Heating, ventilation, and air conditioning, (HVAC) 2. Plumbing system 3. Electrical system 4. All escalators/elevators 5. Fire protection and alarms 6. Security systems 7. Gas distribution The new regulations take a new look at non-inventoried material and supplies by classifying them as either incidental currently deductible or non-incidental deductible when used. Thus non-incidental materials and supplies may be required to be capitalized. There are three possible treatments of material and supplies: it is expensed, deducted when used or capitalized and depreciated.

The regulations introduce a de minimis rule for expensing both certain materials and supplies as well as those assets acquired under a certain dollar amount, pursuant to the taxpayers capitalization policy. The pool of cost, subject to expensing for both materials and equipment, is limited to the greater of .1% of the taxpayer’s taxable gross receipts or 2% of total depreciation and amortization. The

regulation requires for the application of the de minimis rule that: 1. A written policy is in place at the beginning of the year.

2. Have an applicable financial statement (audited, filed with the SEC, or filed with the federal, state and local government entities.

3.

The expense deducted by this rule must also be expensed in the financial statements above.

Repairs and maintenance are now in three groups. The first is routine repairs and maintenance, which are defined in the safe harbor as recurring activities that a taxpayer expects to perform as a result of the use of the property; such as inspection, cleaning, testing and replacement of component parts. The second is a betterment or restoration which cures a material defect, is a material addition to the property or increases its capacity, productivity, efficiency, output, strength or quality of the unit. The last is the adaption of the property to a different use.

The first group is currently deductible while the next two require capitalization. Buildings also have a classification called restoration which require careful review of the Regulation especially if there are defects know at the time of acquisition.

One important thing to note leasehold improvements are included in the category of building for application of the repair rules.

Most of the provisions in the new regulations will require a change in accounting and the filing of Form 3115 which is another reason to look at the New Regulations today.

Planning ideas: • Consider putting into place all the policies necessary to elect the de minimis rule •C onsider a cost segregation to take advantage of both the shorter depreciable lives as well as establishing the components if major repairs are required. Look at the general account election.

• Consider segregating future additions or major repairs to real property into separate components. ______ Tom Zoebelein serves as tax manager at Pearce, Bevill, Leesburg, Moore, P.C. performing tax research and planning.

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The Alabama CPA MAGAZINE

DOING IT BETTER

Income Tax Planning With Life Insurance

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By: Howard W. Neiswender

oday, more than ever, people are concerned about reducing their overall income tax liability. It does not matter how well you do in terms of an investment return if you are losing a substantial portion of that return to income taxes. One planning tool that is often overlooked is investing inside of a life insurance policy, which can eliminate taxes on investment earnings.

Howard Neiswender Historically, life insurance has been used to generate a death benefit for replacement of income or the creation of an estate. However, most people are unaware that there are specifically designed life insurance policies that maximize an investor’s choice of investments and provide a tax-free investment return.

This type of policy is typically called a private placement life insurance policy (PPLI). PPLI is a policy that creates tax-free appreciation while typically providing the minimum amount of death benefit necessary to qualify as a life insurance policy under the Internal Revenue Code. A PPLI is better than a retail life insurance policy for three reasons. First, a PPLI allows the premiums to be invested in a wide number of investments including hedge funds, private equity, real estate, foreign currencies, etc.

There is no choice in the investments with a whole life or universal life policy, and the limited choice of the 30-40 retail mutual funds in the average variable policy.

Secondly, a PPLI issued by an international life insurance company generally allows the owner to appoint a specific investment advisory firm approved by the insurance company to manage the policy’s investments. PPLI also gives you the ability to invest in insurance dedicated funds (IDFs) which are investment funds that can only be sold to and held by a PPLI. Finally, the actual costs relating to a PPLI are generally much lower than the cost of a traditional life insurance policy due to the lower overhead of the life insurance company. A PPLI typically does not pay a huge up-front commission to the insurance agent. PPLIs usually have a 1%-2% charge that is taken out of each premium payment, and most life The Alabama CPA MAGAZINE

insurance companies offering PPLI purchase re-insurance on a wholesale basis to cover the majority of the death risk. Therefore, the PPLI keeps a lot more of the premium invested, creating faster appreciation and greater cash values.

PPLI can only be acquired by an accredited investor or qualified purchaser under applicable securities laws. Policy premiums can range anywhere from $1,000,000 to $100 million or more. Under the Internal Revenue Code, if you fund a life insurance policy with too much premium, it becomes a modified endowment contract and all withdrawals from that contract become ordinary income subject to income tax and a potential penalty tax. If the PPLI is structured as a non-modified endowment contract, then the policy owner can take withdrawals up to the amount of premiums paid into the policy and can borrow from the cash value without incurring any income taxes. The ability to both invest on a tax-free compounding basis and to access the cash value through tax-free loans is a powerful combination.

A PPLI must have at least five different investments for diversification purposes, or must invest in a IDF that holds at least five different investments in its fund. While the policy owner cannot directly instruct the policy’s investment advisory firm to make specific investments, the policy owner can select the investment advisory firm (if the PPLI is issued by an international life insurance company) and can make general investment suggestions.

PPLI is available both insurance companies located here in the United States and internationally. Domestic PPLIs typically do not allow the policy to invest in specific stocks, private equity, or the like, but only IDFs and mutual funds, and does not let the policy owner select the investment advisory firm. For these reasons, most PPLIs are purchased from international companies. Because of state insurance laws and securities laws, these international companies will not run specific illustrations, perform medical examinations, or do any-thing else relating to the acquisition of a PPLI here in the United States. However, it is possible for the international company to interface with the policy owner’s advisors regarding the general aspects of the PPLI, and all aspects of the acquisition of a PPLI can take place anywhere outside the United

States, including Mexico or Canada, without the policy owner having to travel to the home country of the international company.

The tax treatment of a domestic PPLI and an international PPLI are identical. Because of the benefits available with an international PPLI, most find the international PPLI to be the superior product. In that the segregated account for the PPLI is completely insulated from the creditors of the international company and the international company typically retains only a small portion of the death risk, there is typically more risk with a traditional life insurance company than an international company.

PPLI can be owned in the same manner as any other life insurance policy. This includes ownership by the policy owner outright; in an irrevocable life insurance trust; in a spousal access trust; and (at least in a few states and foreign countries) in a self-settled trust where the policy owner is a potential beneficiary.

Significant estate planning can be therefore be accomplished using a PPLI while simultaneously eliminating income taxability. Currently,

compliance for a PPLI includes complying with the reporting rules applicable to foreign bank and financial accounts (the FBAR rules) and with the Foreign Account Tax Compliance Act (FACTA).

While PPLI is obviously not for everyone, they do bear serious consideration where there is a desire to have investment flexibility, and eliminate all future income taxes. _____ Howard Neiswender is an attorney at Sirote & Permutt, P.C. His legal practice focuses on estate, asset protection, tax and business succession planning for individuals and business owners.

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DOING IT BETTER Validate How You Market Your Services with Google Trends

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By Roy Keely, Xcentric

silver bullet marketing idea is a farce.

There is always more behind the scenes of any successful marketing campaign than a mere ‘idea’. In addition, success of a campaign depends largely on your firm’s makeup, goals, and demographics and cannot be reduced to a single initiative. It takes hitting on all cylinders to really make a difference from one year to the next.

A favorite marketing quote that I tend to come back to is “small hinges swing big doors.” The small hinge in this example is speaking the language of your target market across all media. This includes websites, presentations, mail pieces, etc. It’s not easy to drill down to the language which would be effective to the market at large, but it’s made easier given technology tools like Google Trends.

Many marketers use their ‘gut’ to make decisions - which can get us in trouble as many times as it can aid us. Google Trends allows us to test our ‘gut’ with TONS of data (the catchy term these days is ‘Big Data’) that is free and readily available.

is reflective of all searches, not necessarily your target market. This is more relevant of an exercise for a tax shop focused on individuals of all kinds versus the shop that goes after SEC audits. Either way, the results can still provide you with helpful data.

In the real-life example, Google Trends shows that your clients want ‘help’ more than ‘advice’ or ’strategy’. You can then take that information and start using the word ‘help’ across all media, since it is striking more of a chord with your audience.

Real-Life Example: Here is an example of how to use Google Trends if you are thinking about refreshing your website or embarking on other marketing campaigns:

HARD SHOES TO FILL? Where filling someone’s shoes is concerned, we get it.

Fit goes beyond the shoe’s size to the style and comfort of the wearer.

Otherwise, wouldn’t everyone walk around in the same shoes?

You are starting a blog or section on your website, whereby you hope to give advice to your personal tax clients. You plan to notify them via email and mail regarding this new section, in order to get traction on the site quicker than by way of pure organic growth.

We believe that when you connect the right person to the right job and the right individual to the right company, the shoes will be just right.

We’re here to help you find the person to step into these shoes, And to make sure they can HIT THE GROUND RUNNING.

Question: What wording should you use to reflect the language used in the market at large? Is using “tax advice” better than “tax strategy” or “tax help”? What about “tax tips”?

Solution: Use Google Trends to see how people pair the word ‘tax’ with what they are searching for: advice, strategy, help or tips.

Google Trends analysis tips: • Make sure you narrow your search geographically. Otherwise, Google Trends will analyze the entire world wide web, which could skew your results. You can even narrow down to a region or state.

• Keep in mind that the Google Trends analysis 10

www.itacsolutions.com TECHNOLOGY | CORPORATE PROFESSIONAL/CLERICAL GOVERNMENT/ENGINEERING | ACCOUNTING/FINANCE

Providing temporary/contract, contract-to-hire, and direct hire staffing solutions.

SOLUTIONS

Birmingham | Mobile | Huntsville | Nashville The Alabama CPA MAGAZINE

Full Report: Rising/Related Terms The above chart is only a fraction of the value gained via Google Trends. The real gold is in the rising/ related terms found in the full report.

In the lower right of the full report, you will see a few terms as it relates to the ‘master’ term as well as things to have on your radar. The ‘rising’ search terms are the types of things you can blog about because they are rising topics of interest. _____ Roy Keely is the VP of Market Strategy at Xcentric, he can be reached at info@xcentric.com or 678.297.0066 ext. 525.

The Alabama CPA MAGAZINE

• In Memoriam • Ronald E. Burkett Nov. 24, 1942 – Sept. 26, 2012 Clanton, Alabama Certificate #727

Quintus J. Fuller April 28, 1930 – April 9, 2013 Pell City, Alabama Certificate #1265

George L. Russell June 29, 1950 – January 13, 2013 McCalla, Alabama Certificate #1467

Donald R. Roberson April 14, 1939 – April 14, 2013 Hoover, Alabama Certificate #936 Jimmy Arnold Tucker May 13, 1936 - April 28, 2013 Decatur, Alabama Certificate #770R

John P. Jones January 20, 1930 – March 28, 2013 Montgomery, Alabama Certificate #490 Chandler F. Cox February 6, 1929 – April 4, 2013 Geneva, Alabama Certificate #511

Christopher Trent Colquett December 12, 1978 - May 18, 2013 Enterprise, Alabama Certificate #11449

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1

4:02 PM The Alabama CPA 3/5/13 MAGAZINE

FINANCIAL EDUCATION UPDATE Campus Coalition Secures $11.7 Million in Refunds and Saves Families over $1.9 Million in Tax Prep Fees – A Report from SaveFirst

T

he Alabama Society of CPAs was an early supporter of SaveFirst through its relationship with university accounting programs.

During the first two years, the Society provided financial education materials for SaveFirst clients in Montgomery. For the next three years, the ASCPA gave 3000 Financial Fitness calendars to SaveFirst clients statewide. In 2011, the ASCPA was a sponsor of the SaveFirst Fellows Program, which provides stipends for team leaders.

SaveFirst Accomplishments The seventh year of SaveFirst (2013) saw tremendous success in terms of student involvement and community members served. Over 450 trained students from more than sixteen campuses prepared tax returns for more than 6,200 families at sixteen sites statewide. In just six weeks, our statewide campus collaboration helped these working families secure $11.7 million in tax refunds, saving them $1.9 million in commercial tax preparation fees.

SaveFirst targets those who qualify for the Earned Income Tax Credit, the federal government’s largest anti-poverty program supporting lowto moderate-income working individuals and families.

SaveFirst Community Partners In just seven years, SaveFirst has grown into the largest and most successful volunteer tax preparation program in the state! SaveFirst is a collaborative effort among Impact Alabama, fifteen Alabama universities and colleges, cities across Alabama, the Internal Revenue Service, and hundreds of businesses, nonprofits, and community organizations throughout the state of Alabama. We are grateful to all of our community partners for the success of this effort. We are particularly excited about our major sponsor relationships with Regions Bank and FOX 6, both of which have been critical to our success.

Program Components Free Tax Preparation – Students attend a six-hour tax training session in early January during which they learn tax law concepts such as determining filing status and dependency exemptions, how to report sources of income, and figuring the eligibility of tax credits. Students also become proficient in using a web-based tax software tool during the training. Following the training, all students must pass an IRS certification test. Once certified, students prepare taxes at community-based sites across the state beginning in mid-January.

Poverty Course Development – Students enrolled in poverty service-learning courses discuss and reflect on issues such as perceptions and misperceptions of those living in poverty and current policies affecting working families. Through their service at SaveFirst sites located directly in communities of need, students then gain firsthand experience and the ability to think more critically about those issues introduced in the classroom.

The vast majority of working families live paycheck to paycheck with little or no savings to shield against unforeseen emergencies or to plan for future needs. Savings plays a critical role in insulating families from financial shocks. At a time when jobs have been disappearing and workers’ hours are being cut, families’ needs for savings are even more The Alabama CPA MAGAZINE

SaveFirst trains college accounting and law students to provide free tax preparation services and opportunities for savings and economic improvement to low-income, working families—especially targeting those eligible for an Earned Income Tax Credit refund. pronounced. SaveNow WinLater tackles this problem by focusing on two critical elements: utilizing the best possible savings product and creating the strongest possible incentive to save.

For every $50 eligible taxpayers invest in a federal savings bond, they earn a chance to win a grand prize jackpot as well as two smaller monthly prizes awarded in February and March. Families making less than $50,000/year with one or more children in the home or $25,000/ year without children are eligible to participate.

This innovative initiative attracts taxpayers and positively impacts their saving levels. Taxpayers can enter without risking any principal or interest. Moreover, they can participate with the knowledge that they are building important financial assets for themselves and their families.

The Need for SaveFirst Many low-income households are eligible for the EIC and other tax credits, but are unaware of their existence and thus do not apply for the annual refunds. The IRS estimates that 15% or more of EIC refunds are unclaimed by low-income families, which amounts to approximately $2.7 billion each year (The 2004 Just Money Project). Moreover, many who do not have the resources or knowledge to file their own taxes instead rely on costly commercial tax preparers. Additionally, many consumers are convinced to take out a Refund Anticipation Loan (RAL) – a predatory one-to-two week loan secured by, and repaid directly from the proceeds of, a consumer’s tax refund, offered at exorbitantly high interest rates, ranging from about 50% to over 800% APR. In Alabama, more than 500,000 families annually claim an estimated $1 billion through the federal EIC. However, with more than 75% of EIC recipients in Alabama paying a commercial preparer to complete their taxes, Alabama families lose more than $78 million annually to tax preparation and refund anticipation loan costs – a figure which places us at 48th in the nation. That extra $78 million could have made a tremendous contribution to helping lower-income families secure health insurance, pay down debts or put food on the table. ______ SaveFirst is an AmeriCorps program and is funded, in part, through Serve Alabama, the Governor’s Office of Faith-Based and Volunteer Service.

13

Risk Assessment

REMEMBER WHEN YOU FIRST WANTED TO BE A CPA? Maybe it was when you realized how good you are with numbers. Or when you developed a passion for order and accuracy. Or when you recognized that you excel at solving problems.

You’re now an accounting professional. Ethical. Objective. Committed. Competent. Joining the AICPA will put ®

you in the company of nearly 386,000 like-minded professionals — sharing knowledge, connecting to critical information and using exclusive discounts on everything from CPE to personal and professional insurance.

For details, or to join, visit aicpa.org/iamcpa or call 888.777.7077.

13103-326

14

The Alabama CPA MAGAZINE

EDUCATION Express

Melissa WEllander Joins Education Staff

W

HEW! You heard a huge sigh of relief at the ASCPA world headquarters when staff reached its full complement of 10 on Monday, May 13. Melissa Wellander joined the education department as conference coordinator, becoming the primary contact and planner for all ASCPA conferences.

Wellander came to the Society after 7 years at State Farm, where she was office manager for the Agency Field Office of the southeastern Alabama zone. She worked with 40 agents from towns large and small, developed some more efficient ways of tracking expenses which were adopted nationally and created such an attractive website that it was used as the beta for other offices. Smart lady!

Her biggest challenge during week one at the ASCPA has been learning all the acronyms that are shorthand within the Society and accounting profession.

“We had the same thing going on in insurance, lots of jargon to know. But once I get that down, I’ll buzz right along. The professionalism is the same, the commitment to clients (members) is the same, and I already feel at home in the office”, she shared.

Wellander is from Slapout in Elmore County and attended Holtville High School.

She went to college at Auburn Montgomery and, when her husband was transferred to a job in Atmore, attended classes at Jefferson Davis Community College in Brewton.

Her family was in the boat-building business in Wetumpka, and a return to the area meant she went to work for her brother at what is now Bonner Boats. They specialize in rather large boats; for example, they built the Sea Screamer tour boat in Panama City and an entire fleet of charter fishing boats. She was office manager and bookkeeper for the firm for 15 years. When boat-building slowed

You didn’t start your business to handle paperwork and regulations, but Charter HR did!

New This Year!

Employee Benefits Workshop

Monday, July 29 - Wednesday, July 31 The Wynfrey Hotel, Birmingham Earn up to 24 hours of education credit while learning about advanced employee benefits topics. Choose one, two, or three days to attend. Receive a $50 discount when you register for 2 days and a $100 discount when registering for 3 days.

July 29 Advanced Employee Benefit Plan Topics July 30 Employee Benefit Plans: Audit & Accounting Essentials July 31 Audits of 401(k) Plans

Visit www.ascpa.org for more details and to register.

The Alabama CPA MAGAZINE

in the early 2000s, she moved into education.

Wellander was a teacher’s aide for a middle school math class at Holtville Middle School, helped at-risk children and those for whom English was a second language.

She and husband Mark have a large blended family which includes her son Jared, 24, and daughter Ashton, 20.

Tired of losing valuable time dealing with the ever increasing wave of paperwork and regulations?

Charter HR enables its clients to cost-effectively outsource the management of: • Human Resources • Employee Benefits • Payroll • Workers’ Compensation • State and federal regulations • I mplementation of Healthcare Reform Charter HR clients focus on their core competencies to maintain and grow their bottom line.

Running a successful business is what you do best! Let Charter HR take care of the details!

P.O. Box 759 Alexander City, AL 35011 855-234-6234 info@mycharterhr.com www.mycharterhr.com 15

Check out the NEW Paychex Accountant Knowledge Center!

Our newly redesigned online Accountant Knowledge Center is loaded with FREE, convenient, user-friendly tools and resources, including: • Daily News – Stay current on the latest federal and state tax, payroll, HR and benefits topics.

• Mobile News – Check in when you are on the road for industry updates fed to your mobile device.

• CCH Tax Briefings – Find overviews on major tax legislation.

• HR Compliance Library – Quickly research practical answers on a wide range of HR topics.

• Interactive Financial Calculators – Choose from over 150 different calculators.

• U.S. Master Tax Guide – Conveniently access the authoritative tax guide for accounting professionals online.

Ask your Paychex representative for more information, or visit www.paychex.com/accounting-professionals to get started today!

Aaron Clark 205-991-3990, ext. 56308 jaclark@paychex.com

Paychex is proud to be the preferred provider of payroll services for the ASCPA.

16

The Alabama CPA MAGAZINE

EDUCATION Express

Join us in a ship full of fun and education!

37th Annual Sandestin Conference July 21 - July 25, 2013 Total 16 Hours CPE Credit / (8AA, 4TX, 4 Technology) Sunday, July 21 3-5pm Registration 6-8pm PNC Bank partnering with ASCPA to bring you the Opening Reception Monday, July 22 7-8am Continental Breakfast 8-12noon Practical Guidance for Impairment Accounting Standards James D. Martin, CPA 1pm

Golf Tournament

Tuesday, July 23 5:45am Fishing Tournament Harborwalk Marina 7-8am

Continental Breakfast

8-12noon T op State and Federal Tax Case Law Topics Jeff Patterson, Esq.

1 - 4pm Beach Party with water slide, sponsored by Southeastern Financial Wednesday, July 24 7-8am Continental Breakfast 8-12noon The Tech Savvy CPA Carlton Collins Thursday, July 25 7-8am Continental Breakfast 8-12noon Accounting & Auditing Update Bruce Nunnally, CPA Prizes Awarded for Golf and Fishing Tournaments after morning break!

11am Hotel Check out time Front Desk

Save $50

Standard Fee: $575 for Members $575 for Non-Members Save $50 with an Early Bird Discount when registered by July 11

Hilton Sandestin Beach Golf Resort & Spa

4000 Sandestin Boulevard South Miramar Beach, Florida 32550 1-800-559-1805 | (850) 267-9500 Fax: (850) 267-3076

Members of the Florida Society of CPAs will receive the Member rate

Rates $269 and up per night with group code ASC. Reservations must be made before June 23 for special rate.

For reservations, book online at www.sandestinbeachhilton.com.

The Alabama CPA MAGAZINE

17

EDUCATION Express

Alabama Technology Conference 8:00 to 8:30

July 11th and 12th, 2013 Day One Sessions On Site Registration

General Session – Tech Update 2013

8:30 to 10:15 Tommy Stephens

10:15 to 10:25 10:25 to 12:00

12:00 to 1:00 1:00 to 2:35 Bob Spencer

2:35 to 2:45

Bob Refreshment Break

Excel's PowerPivot and Power View: A Dynamic Duo!

CPA Firm Tech: Maximizing Partner Income

Cloud Document Management 101

Tommy

Bob

Will

Lunch

Dashboard Reporting Tools and Techniques

The Very Best QuickBooks Features

Backup, Business Continuity, and Disaster Recovery: Why All Three?

Bob

Tommy

Will

Refreshment Break

General Session – Our Favorite Apps

2:45 to 4:30

8:00 to 8:30 8:30 to 10:15 William Fleenor

Day Two Sessions

On Site Registration

General Session – Mobile Strategies for Success Bob

10:15 to 10:25 10:25 to 12:00 12:00 to 1:00

1:00 to 2:35

2:35 to 2:45 2:45 to 4:30

18

Tommy

Refreshment Break

Office 2013: What's in it for Me?

How to Create the Virtual Office

PDF Forms: Retire the Typewriter!

Tommy

Bob

Will

Lunch

Excel Guru's Toolbox

Collaborative Bookkeeping and Cloud Accounting Solutions

Tech 101: Don't Get Left Behind

Tommy

Bob

Will

Refreshment Break

General Session – Excel 2013: Best New Features Will The Alabama CPA MAGAZINE

ASCPA Technology and Productivity Conference Registration Form Mail form to : ASCPA P.O. Box 242987 Montgomery, AL 36124-2987

Fax form to: Sherry Russ (334) 834-7310

Register online at: www.ascpa.org

Pelham Civic Complex • July 11th and July 12th

500 Amphitheater Road, Pelham, AL 35124 • Phone: (205) 620-6448 On site check-in begins at 8 a.m., Conference starts at 8:30 a.m. and ends at 4:30 p.m.

16 Hours of Other CPE Credit Member Fee $450 | Non-member Fee $500 An Early Bird Discount of $50 is available until July 1st BREAKOUT SESSIONS (SELECT ONE FROM EACH TIME PERIOD) Thursday, July 11th Morning 10:25 a.m.–12:00 p.m. p A p B p C Afternoon 1:00 p.m.–2:35 p.m. p D p E pF

The Alabama CPA MAGAZINE

Friday, July 12th

Morning 10:25 a.m.–12:00 p.m. p G p H p I Afternoon 1:00 p.m.–2:35 p.m. p J p K p L

19

EDUCATION Express

No. Date(s) Location

auburn 039 7/18/13 040 7/18/13 044 7/26/13 108* 8/30/13 109 8/30/13

Auburn Auburn Auburn Auburn Auburn

Field of Study Title

AA Tech Tax Other Tech

Early Bird Member Fee

*Registration Non-Member Fee Add-On

#REF! $250 #REF! $250 Shortcuts to Tax Cuts: Individual Tax, Social Security, and Retirement Planning Tools and Strategies $250 Expanding the Role and Influence of CPAs in Organizations $250 Excel PivotTables for Accountants $250

$275 $275 $275 $275 $275

$50 $50 $50 $50 $50

Now I Oversee: Advanced OMB A-133 Issues QuickBooks 2013 for CPAs Advanced Business Law for CPAs Excel 2013 for CPAs FASB Industry Review Expanding the CPA Role Public Company Update Advanced Partnership/LLC Workshop: How to Do Optional Step-up In Basis Under 754 and Related Provisions 2013 Community Banking Update Sage 50/Peachtree Accounting Software - Managing Businesses More Effectively International vs. U.S. Accounting: What in the World is the Difference?

Business Law Update Alabama Sales and Use Tax Guide for CPAs by Ely, Long, and Thistle Advanced Audits of HUD-Assisted Projects 2013 Hot Tax Topics FRF-SME: Financial Reporting Framework for Small and Medium Sized Entities The Bankruptcy Process: What Every CPA Must Know 2013 FASB Update for the Real World Advanced Excel 2013 Compilation and Review Update The Mobile Office

$250 $250 $250 $250 $250 $250 $250

$275 $275 $275 $275 $275 $275 $275

$50 $50 $50 $50 $50 $50 $50

$250 $250 $250 $250 $250 $250 $250 $250 $250 $250 $250 $250 $250 $250

$275 $275 $275 $275 $275 $275 $275 $275 $275 $275 $275 $275 $275 $275

$50 $50 $50 $50 $50 $50 $50 $50 $50 $50 $50 $50 $50 $50

Birmingham (Pelham) 035* 7/17/13 Birmingham AA 036 7/17/13 Birmingham Tech 078* 8/16/13 Birmingham Other 079 8/16/13 Birmingham Tech 083* 8/19/13 Birmingham AA 085* 8/19/13 Birmingham Other 091* 8/20/13 Birmingham AA 092 8/20/13 Birmingham Tax

104 8/29/13 Birmingham AA 105 8/29/13 Birmingham Tech 114* 9/6/13 Birmingham AA 115 9/6/13 Birmingham Other 183 9/6/13 Birmingham TX 116* 9/9/13 Birmingham AA 117 9/9/13 Birmingham TX 160* 9/23/13 Birmingham AA 161* 9/23/13 Birmingham Other 171 9/26/13 Birmingham AA 172 9/26/13 Birmingham 4AA/4Other 173 9/27/13 Birmingham AA 174 9/27/13 Birmingham Tech

Birmingham Clusters (Pelham) 146 9/18/13 Birmingham (AM) AA 147 9/18/13 Birmingham (AM) TX 148 9/18/13 Birmingham (AM) Other 149 9/18/13 Birmingham (PM) AA 150 9/18/13 Birmingham (PM) TX 151 9/18/13 Birmingham (PM) Other 152 9/19/13 Birmingham (AM) AA 153 9/19/13 Birmingham (AM) TX 154 9/19/13 Birmingham (AM) Other 155 9/19/13 Birmingham (PM) AA 156 9/19/13 Birmingham (PM) TX 157 9/19/13 Birmingham (PM) Other

Compilation and Review Guide and Update Individual Income Tax Update Controller/CFO Update: Hot Topics Facing Today’s Financial Professional Financial Statement Disclosures: Guide to Current Requirements and Developing Issues Maximizing Your Social Security Benefits Gaining a Competitive Advantage: Critical Skills for CFOs and Controllers The Statement of Cash Flows: Preparation, Guidance and Presentation Illustrations S Corp and Partnership and LLC Tax Update Innovative Forecasting and Budgeting: Moving Beyond the Traditional Techniques Fair Value Accounting: Guidance for Practitioners and CPAs in Business and Industry Partnerships and LLCs: Avoiding Common Pitfalls Facing Practitioners Thriving in a Chaotic Economic Environment: Plannning and Strategy Formulation for Your Organization

$155 $155 $155 $155 $155 $155 $155 $155 $155 $155 $155

$180 $180 $180 $180 $180 $180 $180 $180 $180 $180 $180

$50 $50 $50 $50 $50 $50 $50 $50 $50 $50 $50

$155

$180

$50

Employee Benefits Workshop Yellow Book Workshop 2013 Accounting & Auditing Update for the Real World Estate and Tax Planning for the Baby Boomer Workshop Farmer/Nunnallee 2013 Federal Tax Update The Best Federal Tax Update Course by Surgent McCoy

See website for fees See website for fees $199 $224 See website for fees $250 $275 $199 $224

$50 $50

$155 $155 $155

$180 $180 $180

$50 $50 $50

$155 $155 $155 $155 $155 $155 $155 $155

$180 $180 $180 $180 $180 $180 $180 $180

$50 $50 $50 $50 $50 $50 $50 $50

$250 $155 $155 $250

$275 $180 $180 $275

$50 $50 $50 $50

Birmingham (Wynfrey) 045 071 084 101 159 178

7/29-7/31 8/13-8/14 8/19/13 8/26-8/28 9/20/13 12/4/13

Birmingham WYN Birmingham WYN Birmingham WYN Birmingham WYN Birmingham WYN Birmingham WYN

AA AA AA TX TX TX

$50

Birmingham Clusters (Wynfrey) 047 8/5/13 Birmingham (AM) AA 048* 8/5/13 Birmingham (AM) Tax 049 8/5/13 Birmingham (AM) Other 050 8/5/13 Birmingham (PM) AA

051* 8/5/13 Birmingham (PM) Tax 052 8/5/13 Birmingham (PM) Other 054* 8/6/13 Birmingham (AM) Tax 055 8/6/13 Birmingham (AM) Other 056* 8/6/13 Birmingham (PM) Tax 057 8/6/13 Birmingham (PM) Other 058 8/6/13 Birmingham (PM) Other

Forensic Accounting: Critical Phases of an Effective Fraud Investigation Tax Challenges for Older Americans Benchmarking and Effective Partner Compensation Systems Financial Reporting: The Top 25 Tips on How to Prevent and Detect Executives and Managers from Manipulating Financial Statements Social Security and Medicare: Advanced Analysis of the Tactics, Taxes, and the Truth Disciplined Marketing in Building a Niche Practice Taxation for Foreign Nationals Loyalty Effect and Building a Sales Culture in a CPA Firm Taxation for Expatriates Succession Planning and the Future of the Accounting Profession The GO System

DECATUR 098 120* 121* 122*

20

8/22/13 9/10/13 9/10/13 9/10/13

Decatur Decatur Decatur Decatur

TX Hot IRS Tax Examination Issues for Individuals and Businesses AA Audit Workpapers: Documenting Field Work AA Audit Workpapers: Reviewing Field Work Documentation TX Delving into the Top Twelve Issues for Partnerships, LLCs and S Corps

The Alabama CPA MAGAZINE

No. Date(s) Location

Field of Study Title

Early Bird Member Fee

*Registration Fee

Non-Member Add-On

dothan 100 8/23/13 Dothan TX 113 9/6/13 Dothan AA 135* 9/12/13 Dothan AA 136 9/12/13 Dothan TX

141* 9/17/13 Dothan AA 142 9/17/13 Dothan 4AA/4Other

The Complete Guide to Payroll Taxes and 1099 Issues 2013 Compilation and Review Update AICPA Clarified Auditing Standards: The More You Know The Complete Guide to Preparing Limited Liability Company, Partnership, and S Corporation Federal Income Tax Returns Fraud in Small Business Excel-Based Dashboards

$250 $250 $250

$275 $275 $275

$50 $50 $50

$250 $250 $250

$275 $275 $275

$50 $50 $50

$150 $150 $150 $150 $150 $150

$175 $175 $175 $175 $175 $175

$50 $50 $50 $50 $50 $50

$150 $150 $150

$175 $175 $175

$50 $50 $50

Gulf Shores 003 6/24/13 Gulf Shores (AM) AA Annual FASB Update and Review 004 6/24/13 Gulf Shores (AM) Tax Select Estate and Life Planning Issues for the Middle-Income Client 005 6/24/13 Gulf Shores (AM) Other Controller/CFO Update: Hot Topics Facing Today’s Financial Professional 006 6/24/13 Gulf Shores (PM) AA Accounting and Reporting for Not-for-Profits: Avoiding the Headaches and Heartaches 007 6/24/13 Gulf Shores (PM) Tax Individual Income Tax Return Mistakes and How to Fix Them 008 6/24/13 Gulf Shores (PM) Other Gaining a Competitive Advantage: Critical Skills for CFOs and Controllers 009 6/25/13 Gulf Shores (AM) AA Financial Reporting Fraud: The Top 25 Tips on How to Prevent and Detect Executives

and Managers from Manipulating Financial Statements 010 6/25/13 Gulf Shores (AM) Tax Federal Tax Update 011 6/25/13 Gulf Shores (AM) Other Innovative Forecasting and Budgeting: Moving Beyond the Traditional Techniques 012 6/25/13 Gulf Shores (PM) AA Preparing OCBOA Financial Statements: Cash, Modified Cash and Tax Basis `Financial Statements 013 6/25/13 Gulf Shores (PM) Tax Mastering Basis Issues for S Corporations, Partnerships, and LLCs 014 6/25/13 Gulf Shores (PM) Other Thriving in a Chaotic Economic Environment: Plannning and Strategy Formulation

for Your Organization 015* 6/26/13 Gulf Shores (AM) AA Fraud in Purchasing and Cash Disbursement Cycles 016* 6/26/13 Gulf Shores (AM) Tax Maximizing Your Social Security Benefits 017 6/26/13 Gulf Shores (AM) Tech Technology Update 018* 6/26/13 Gulf Shores (PM) AA COSO Internal Control: One Size Does Fit All 019* 6/26/13 Gulf Shores (PM) Tax Estate Planning: What to Do in 2013 020 6/26/13 Gulf Shores (PM) Tech Excel Macros - Part 1 021* 6/27/13 Gulf Shores (AM) AA Compilation Engagements 022* 6/27/13 Gulf Shores (AM) Tax Key Partnership and S Corporation Tax Planning Strategies 023 6/27/13 Gulf Shores (AM) Tech iPad - An Effective Business Tool 024* 6/27/13 Gulf Shores (PM) AA Efficient Small Business Audit 025* 6/27/13 Gulf Shores (PM) Tax Critical Tax Issues in Buying and Selling a Business 026 6/27/13 Gulf Shores (PM) Tech Excel Reporting - Best Practices, Tools and Techniques

$150 $175 $50 $150 $175 $50 $150 $150 $150 $150 $150 $150 $150 $150 $150 $150 $150 $150 $150

$175 $175 $175 $175 $175 $175 $175 $175 $175 $175 $175 $175 $175

$50 $50 $50 $50 $50 $50 $50 $50 $50 $50 $50 $50 $50

huntsville 029* 030* 068 069 093 111* 123* 124* 177

7/9/13 Huntsville 7/9/13 Huntsville 8/9/13 Huntsville 8/9/13 Huntsville 8/21/13 Huntsville 8/30/13 Huntsville 9/10/13 Huntsville 9/10/13 Huntsville 12/3/13 Huntsville

AA AA TX TX AA Tax AA TX TX

Governmental Accounting and Reporting Detecting Misstatements:Integrating SAS 99 and the Risk Assessment Standards Alabama Sales and Use Tax Guide for CPAs by Ely, Long, and Thistle The Best Income Tax, Estate Tax, and Financial Planning Ideas of 2013 2013 Accounting & Auditing Update for the Real World Delving into the Top Twelve Issues for Partnerships, LLCs and S Corps Internal Control: Understanding, Designing, and Evaluating Internal Controls Form 990: AICPA’s Answer to Unlocking the Tax Complexities The Best Federal Tax Update Course by Surgent McCoy

$250 $250 $155 $250 $199 $250 $250 $250 $199

$275 $275 $180 $275 $224 $275 $275 $275 $224

$50 $50 $50 $50 $50 $50 $50 $50 $50

AA Tech

Excel Reporting - Best Practices, Tools and Techniques iPad - An Effective Business Tool

$155 $155

$180 $180

$50 $50

$250 $250 $250 $250 $250 $250 $250 $250 $250 $199 $250 $250 $250 $250 $199

$275 $275 $275 $275 $275 $275 $275 $275 $275 $224 $275 $275 $275 $275 $224

$50 $50 $50 $50 $50 $50 $50 $50 $50 $50 $50 $50 $50 $50 $50

Huntsville Clusters 169 9/25/13 Huntsville (AM) 170 9/25/13 Huntsville (PM)

mobile 037* 038* 041* 042* 076 077 081 118* 119* 138 139* 140 163* 164* 180

7/17/13 7/17/13 7/18/13 7/18/13 8/15/13 8/15/13 8/16/13 9/9/13 9/9/13 9/16/13 9/17/13 9/17/13 9/24/13 9/24/13 12/6/13

Mobile Mobile Mobile Mobile Mobile Mobile Mobile Mobile Mobile Mobile Mobile Mobile Mobile Mobile Mobile

AA New GASB Reporting Requirements: GASB Statements 67 & 68 Tax Handling IRS Disputes AA Studies on Audit Deficiencies Tax Fundamentals of a Trust Tax Hot IRS Tax Examination Issues for Individuals and Businesses Tech Top Accounting Solutions Tech Excel Budgeting and Forecasting Techniques AA FRF-SME: Financial Reporting Framework for Small and Medium Sized Entities AA Audits of Banks AA 2013 Accounting & Auditing Update for the Real World AA Revenue Recognition: Getting the New Standards Right AA Real Life Auditing Situations Integrating the Clarified Statements of Auditing AA Introduction to Business Valuation TX AICPA’s Hottest Tax Topics for 2013 TX The Best Federal Tax Update Course by Surgent McCoy

The Alabama CPA MAGAZINE

21

EDUCATION Express

No. Date(s) Location

Field of Study Title

Early Bird *Registration Non-Member Member Fee Fee Add-On

MOBILE CLUSTERS 059 8/7/13 Mobile (AM) AA 060 8/7/13 Mobile (AM) Tax 061 8/7/13 Mobile (PM) AA 062 8/7/13 Mobile (PM) Tax 063 8/8/13 Mobile (AM) AA 064 8/8/13 Mobile (AM) Tax 065 8/8/13 Mobile (PM) AA

066 8/8/13 Mobile (PM) Tax

Financial Statement Disclosures: Guide to Current Requirements and Developing Issues Federal Tax Update Current Issues in Accounting and Auditing: An Annual Update Critical Tax Issues in Buying and Selling a Business Fraud and Financial Reporting: Don’t Be the Next Victim!

Maximizing Your Social Security Benefits Preparing OCBOA Financial Statements: Cash, Modified Cash and Tax Basis Financial Statements Individual Income Tax Return Mistakes and How to Fix Them

$155 $155 $155 $155 $155 $155

$180 $180 $180 $180 $180 $180

$50 $50 $50 $50 $50 $50

$155 $155

$180 $180

$50 $50

002* 6/18/13 Montgomery Other Trusted Business Advisor Workshop 2 027* 7/8/13 Montgomery AA Governmental and Nonprofit Update 028* 7/8/13 Montgomery Other AICPA’s Annual Update for Controllers 031* 7/10/13 Montgomery AA Understanding the Clarified Auditing Standards: The Changes You Need to Know 6AA/1Tax/ Construction Accounting, Auditing, Tax 032* 7/10/13 Montgomery

1Other 033 7/16/13 Montgomery AA Automobile Dealerships: An In-Depth Perspective 034 7/16/13 Montgomery Tech Top 50 Security Measures for CPAs 046 8/5 - 8/7/13 Montgomery AA Basic Staff Training for Auditors 067 8/8 - 8/9/13 Montgomery AA Semi-Senior Staff Training for Auditors AA Beginning In-Charge Staff Training for Auditors 070 8/12 - 8/13/13 Montgomery 072 8/14/13 Montgomery Tax Advanced Tax Structures: Using Tiered Parnerships, Multiple Corporations, Series LLCs

and Disregarded Entities 073 8/14/13 Montgomery Tech Microsoft Office 2013 including Windows 8 and Skydrive 074 8/15/13 Montgomery AA Religious Organizations: Accounting, Auditing & Tax Issues 075 8/15/13 Montgomery Tech QuickBooks for Beginners 089* 8/20/13 Montgomery AA Revenue Recognition: Getting the New Standards Right 094* 8/21/13 Montgomery AA Real Estate Accounting and Auditing 095 8/21/13 Montgomery Tax Advanced Critical Issues for LLCs and Partnerships Other The Franklin Covey 7 Habits of Highly Effective People Workshop 096 8/22 - 8/23/13 Montgomery 106 8/29/13 Montgomery Other Leadership Development from the Expert Colonel 107* 8/29/13 Montgomery Other Thirty-Plus Practical Tools and Techniques for Making Your Key Financial Decisions 143* 9/18/13 Montgomery AA Identifying Fraudulent Financial Transactions: Practical Tips to Identify Fraud 144 9/18/13 Montgomery AA Small Business Internal Controls, Security, and Fraud Prevention and Detection 167* 9/25/13 Montgomery AA Identity Theft: Preventing, Detecting, and Investigating Identity Theft 168* 9/25/13 Montgomery TX AICPA’s Hottest Tax Topics for 2013 179 12/5/13 Montgomery TX The Best Federal Tax Update Course by Surgent McCoy 181* 1/6-1/7/14 Montgomery TX 1040 Tax Return Update 182* 1/9-1/10/14 Montgomery TX 2012 Corporate Income Tax Boot Camp

$250 $250 $250 $250 $250

$275 $275 $275 $275 $275

$50 $50 $50 $50 $50

$250 $250 $525 $375 $375

$275 $275 $550 $400 $400

$50 $50 $50 $50 $50

$250 $250 $250 $250 $250 $250 $250 $825 $250 $250 $250 $250 $250 $250 $199 $250 $250

$275 $275 $275 $275 $275 $275 $275 $850 $275 $275 $275 $275 $275 $275 $224 $275 $275

$50 $50 $50 $50 $50 $50 $50 $50 $50 $50 $50 $50 $50 $50 $50 $50 $50

Annual FASB Update and Review Individual Income Tax Update Corruption and Asset Misappropriation Schemes: The Top 25 Tips on How to Prevent and Detect Illegal Acts by Employees and Third Parties Mastering Basis Issues for S Corporations, Partnerships, and LLCs Compilation and Review Guide and Update Select Estate and Life Planning Issues for the Middle-Income Client Financial Statement Disclosures: Guide to Current Requirements and Developing Issues Key Partnership and S Corporation Tax Planning Strategies

$155 $155

$180 $180

$50 $50

$155 $155 $155 $155 $155 $155

$180 $180 $180 $180 $180 $180

$50 $50 $50 $50 $50 $50

2013 Accounting & Auditing Update for the Real World Farmer/Nunnallee 2013 Federal Tax Update

$199 $250

$224 $275

$50 $50

Condos & HOAs: Advanced Accounting, Auditing and Other Issues Surgent McCoy’s Limited Liability Company and Partnership Tax Return Preparation Workshop 2013 Compilation and Review Update Common Frauds and Internal Controls for Revenue, Purchasing and Cash Receipts

$250 $250 $250 $250

$275 $275 $275 $275

$50 $50 $50 $50

Practical Guidebook to Impairment Accounting Standards Revenue Recognition and Lease Accounting: The New Perspectives Closely Held Business Taxation: Smart Strategies to Slash Taxes Excel Best Practices Fraud in Small Business Advanced Critical Issues for S Corporations Advanced Estate Planning Strategies: Accumulating Wealth and Minimizing Taxes

$155 $155 $250 $250 $250 $250 $250

$180 $180 $275 $275 $275 $275 $275

$50 $50 $50 $50 $50 $50 $50

montgomery

montgomery clusters 125 9/10/13 Montgomery (AM) AA 126 9/10/13 Montgomery (AM) TX 127 9/10/13 Montgomery (PM) AA

128 9/10/13 Montgomery (PM) TX 129 9/11/13 Montgomery (AM) AA 130 9/11/13 Montgomery (AM) TX 131 9/11/13 Montgomery (PM) AA 132 9/11/13 Montgomery (PM) TX

montgomery Wynlakes 112 9/5/13 158 9/19/13

Montgomery Wynlakes AA Montgomery Wynlakes TX

Orange Beach 082 137 145 162*

8/16/13 9/13/13 9/18/13 9/23/13

Orange Beach Orange Beach Orange Beach Orange Beach

AA TX AA AA

tuscaloosa .

086 087 102* 103 133* 134 166*

8/20/13 8/20/13 8/28/13 8/28/13 9/11/13 9/11/13 9/24/13

Tuscaloosa-AM Tuscaloosa-PM Tuscaloosa Tuscaloosa Tuscaloosa Tuscaloosa Tuscaloosa

AA AA Tax Tech AA TX Tax

ASCPA CONFERENCES 2013 • visit www.ascpa.org 22

The Alabama CPA MAGAZINE

ASCPA Education Registration Form

ASCPA Continuing Professional Education Registration Form Mail form to : ASCPA P.O. Box 242987 Montgomery, AL 36124-2987

Fax form to : Sherry Russ 334.834.7310 Scan/email to: sruss@ascpa.org

Register online at:

www.ascpa.org

REGISTRANT INFORMATION Last Name

M.I.

First Name

ASCPA Member Number

Firm / Employer State Certificate Number Address City

State

Zip

Business Phone

Business Fax

Please visit www.ascpa.org to view all registration policies, including information about cancellations and refunds.

Please attach a description of special requests or contact us at (334) 386-5764.

Email Address (for registration confirmation)

Vegetarian ADA Request

Check if information has recently changed and needs to be updated in your member record Are you a member of the AICPA? Yes How did you hear about this class?

Course Date

No

Email

Course Title

Member Number: ____________________ (Required for discount; subject to verification) Newsletter

Website

Course Number

Postcard/Special Mailing Course Fee ASCPA Member

NonMember

Other

AICPA Discount *see note (where applicable)

Book Fee ($20 per course)

Subtotal

Total: *CPAs who are members of the ASCPA may register at the member rate. CPAs who are not a member of the ASCPA or other State Society may register at the Non-Member rate. Please include the appropriate discount(s) when registering for events. ÃCPAs who are members of the AICPA may deduct $30 from AICPA seminars ONLY (8 hrs classes). (These are identified in the CPE Schedule online or in the ASCPA newsletter). *Electronic course materials are included in the registration fee and will be emailed at least two weeks before the course date. You can choose to purchase a paper copy of the course materials for an additional fee of $20 per course.

I acknowledge that I will receive course materials electronically (included in course fee).

I would like to purchase my manual for $20 per class Check: I have enclosed a check payable to ASCPA in the amount of $ ___________ I authorize the ASCPA to charge $ __________ to my credit card.

Credit Card:  MC Card Number

Company Credit Card

 Visa

 Discover  AMEX Month Year Expiration Date

Personal Credit Card

________________________________________ Print Cardholder’s Name

________________________________________________ Cardholder’s Signature

Address of cardholder

City, State, Zip of cardholder

The Alabama CPA MAGAZINE

3/11/13

23

Presorted Std US Postage PAID Permit No. 131 Montgomery, AL JUNE 2013

The Alabama Society of Certified Public Accountants 1041 Longfield Court P.O. Box 242987 Montgomery, AL 36124

It’s a great time to be a member of the ASCPA!

T

his is the time to renew your membership. You received your dues notice via email in April and more than 60% responded quickly. Update your personal profile on the website, send in your dues if you haven’t already; give serious consideration to support of the Educational Foundation.

Now that you’ve got all that taken care of, do you know a CPA who is NOT a member of the Alabama Society? It’s time

to do for them what someone else did for you – encourage them to join. Show them the website, www.ascpa.org, describe the benefits of membership over lunch (you will need a long one). Talk to them about both the obvious and less tangible reasons that YOU became – and remained – a member.

FUN FACTS: Oldest member of the ASCPA? That would be Charles Moses, certificate #355, who joined in 1956 and

will celebrate his 96th birthday in October.

Youngest member? 18 year old Kali Martin, an accounting student at Huntingdon College.

That’s quite a range – 78 years between the Society’s past and its future.

2019 is the 100th anniversary of both the Alabama Society of CPAs and the certification of Alabama accounting professionals – huge milestones for you and the profession you’ve chosen. Make sure you have a seat at the party!

Classified Patterson, Prince and Associates, P.C., in Florence, Alabama is seeking a CPA with 3 or more years of public accounting experience in tax and auditing. Competitive salary and benefits package with room for future advancement. Please send resume to Lisa Patterson at lpatt@pattersonprince.com.

Tax Senior Manager Wanted: The successful candidate will be a member of a leadership team at Sellers Richardson Holman & West, providing both tax compliance and consulting services to assigned clients and the lead person in maintaining relationships with clients on recurring tax matters. The Tax Senior Manager will gain valuable experience by working with multiple tax partners who will share their years of knowledge and experience gained from working with significant companies with complex tax issues. SRHW offers a local firm experience with access to large firm resources as a result of an alliance with McGladrey. We offer opportunities to participate in the development and leadership of multiple tax specialties. Our managers have excellent prospects for career advancement. We are interested in individuals who want a longterm career opportunity with potential for partner track. 8+ years CPA firm experience. http://www.srhwcpa.com/positions.html

PANGEATWO successfully matches clients with talented professionals. Our seasoned understanding of human potential, including individual strengths, lets us design far-reaching and personalized workforce solutions for employers. Our experience

With offices in Birmingham, AL and now in Mobile, AL

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Birmingham, AL 205.444.0080 Mobile, AL 251.732.3000 www.pangeatwo.com

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