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TA B L E O F C O N T E N T S
FEATURES
COLUMNS
6 Build Back Better
University of Alabama’s Karen Miller, CPA, offers insights into this new legislation and its effect on Alabama taxpayers.
Member Profile Caitlyn Grimme of Crow Shields Bailey
Special Remembrance Dr. Judy Kamnikar, CPA, CGFM, CGFO
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Alabama Department of Revenue: Looking Back and Looking Forward A brief review of 2021 is followed by an update on the ALDOR’s new website and commitment to enhanced taxpayer service from Mary Martin Miller, Acting Director of ALDOR’s Tax Policy and Governmental Affairs Division.
14 Kassouf and Company Celebrates 90 Years of Service Enjoy a conversation between two generations of the Kassouf family as they reflect on this milestone.
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SALT Update Those guys from Bradley Arant Boult & Cummings are back with their take on the upcoming legislative session.
Inside the ASCPA Message from Jeannine................... 4 Message from the Chair................... 5 Member News................................ 18 Classifieds........................................ 26
Technology in 2022 Tommy Stephens offers his annual look at the latest and greatest technology for you and your business.
Front Cover: Photograph of the Alabama State Capitol interior is from Wiki Commons
We’re @ALsocietyofCPAs on Facebook, Instagram, & Twitter— follow us to see the latest from the ASCPA.
January / February
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MESSAGE FROM JEANNINE
Relations issue, we’ll address the latest information from our experts on state and local tax from Bruce Ely, Will Thistle and their team, with federal updates from Karen Miller and an ALDOR update from Mary Martin Mitchell. In a time-honored tradition, the 2021 Legislators’ Tax Guide will be available to you at the start of the 2022 Alabama Legislative Session. We’ll send you the link for it. Thanks to Kee Ruland of Ruland and Ruland, CPAs in Mobile, for his tireless attention to the Guide’s updates for the last 20 years. Happy New Year! Our wish is for a successful and prosperous 2022, with a grateful heart for having made it through the storms and turmoil of the last 22 months. We have a major communications update. The accounting world now has its own web suffix – .cpa. The Society has adjusted all its email addresses to read (for example) jbirmingham@alabama.cpa. This transition has been so successful that our computers send all emails addressed to @ ascpa.org to “junk”! So please make that change in your own communications or with your IT team, we don’t want to miss hearing from you. With this issue, our Tax and Government
Speaking of the legislature, it’s another busy legislative season with the ASCPA actively involved in legislation to address ARPA and Build Back Better, the federal infrastructure agenda. There will be a number of ways in which our members will be affected, and our slate of advisers will give you as much clarity as possible. Don’t forget that 2022 is an election year! The Alabama CPA PAC thrives because of your support. It’s critical that we are proactive in helping legislators and other elected officials who understand the needs of Alabama’s CPAs and business community. Please contribute to the PAC on our website. Alabama CPA PAC trustees include Allen Cave, Carl Jamison, Darren
Hipps, David Kassouf, David Scott, Gary Anglin, Jim Storey, Jim Ellis, Josh Taylor, Lynne Boucher, Marty Abroms and Robert Miller each representing a specific state geographic area. The ASCPA is constantly nurturing its government relationships. We have a strong partnership with the Alabama Department of Revenue, including its commissioner and staff. Mary Martin Mitchell’s article on pages 10 and 11 will bring you up to date. The ALDOR participated in the ASCPA’s August Board Meeting to talk about issues, challenges, filing season predictions and it is this willingness to work together that benefits our members. When you get to page 12, you’ll see that we’re back in person for the ASCPA’s Annual Meeting. It will be held at The Club in Birmingham and offer the top-quality CPE experience you’ve come to expect. We always say that Annual Meeting is part family reunion and part professional development! We’re hungry to see ALL members of the family in 2022 and encourage you to attend.
Jeannine
Join us in welcoming the new ASCPA Communications Director, Megan Hughes, APR. She will be responsible for internal and external communications, will serve as editor of CONNECTIONS and manage digital content. Megan has 15 years of professional experience in the field of public relations, 12 of those years spent in higher education. She is active with the statewide public relations organization, PRCA, currently serving as its state president. She will be responsible for member news, so make note of her email address, mhughes@alabama.cpa. Megan is a graduate of Auburn University and the University of Southern Mississippi, where she earned her bachelor’s and master’s degrees, respectively, in public relations. She earned her Accreditation in Public Relations (APR) in 2015, and supports her community by serving on the Leadership Council at Aldersgate United Methodist Church, the State Committee for Distinguished Young Women of Alabama and the Montgomery Auburn Club Board of Directors. She and her husband, Joel, live in Prattville. Joel works for Troy University’s Continuing Education division doing business development and corporate training. They have two young children, and enjoy spending time with family and friends.
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MESSAGE FROM THE CHAIR
When I think about the closing of one year and beginning of the next, my mind goes straight to New Year’s Day 2021. Hindsight is 20/20, and we were all ready for 2020 to be in hindsight! I imagine many of our members feel the same way about the closing of 2021, and for good reason. As we turn the page to a new year in 2022, let us consider every day as a chance to have a fresh start. If you aren’t proud of something you said or did yesterday, apologize and change course. If you feel like you missed your opportunity for a New Year’s resolution, it isn’t too late. Today is the day. May we wake up every day in 2022 with a desire to become a better person than we were yesterday, with a renewed vision to see the opportunities ahead of us, and with the courage to make the right decisions. I am extremely proud of the work of CPAs throughout our state over the past 2 years. We’ve had opportunities to grow deeper roots with others as we help solve new problems on an almost daily basis. Many have become a “most trusted advisor” to clients and our employers, some for the first time in their career. While none of us would want our clients and employers to face these kinds of challenges every year, may we all be encouraged by our efforts over the past 2 years. We’ve helped the Alabama economy continue to operate and thrive. I am certain that thousands upon thousands of Alabamians have stayed employed as a result of our counsel to Alabama businesses. We really are making a difference. As you think back over the past year (or two), remember all of the ways you’ve gone the extra mile and what a difference
it made. Tell those stories to the next generation of young accountants, college students, and even high school and middle school students. Most of us didn’t enter the profession hoping to push paper all day for 30 or 40 years. As challenging as it has been, the past two years is exactly why we became CPAs. Your stories might be the reason a young person decides to pursue a career as a CPA. This issue of Connections focuses on tax and governmental relations. Prior to my involvement on the ASCPA board, I didn’t recognize or fully appreciate all the ways the ASCPA is involved in governmental affairs. Our society works to establish and maintain productive relationships with organizations and people of influence throughout the state, including the ADOR, ASBPA, the Governor, legislators and other elected officials, lawyers and law firms, tax and law professors, and many others. From an outsider’s perspective, we often see legislation after it passes and then we either give praise or complain about it, based on whether we like the outcome or not. There are so many times we don’t even realize all the work that was done behind to scenes to prevent legislative efforts that are bad for our members and our clients, or to prevent bad legislation from being worse. Sometimes what we don’t see and hear about is more important than what passes. While Jeannine and our ASCPA staff are well connected regarding legislative affairs, it doesn’t stop with the staff. Our ASCPA members are also involved through our State Tax, Federal Tax, and PAC committees. If you have a desire to serve
on one of these (or other) committees, please visit the Committee section of the website or contact the ASCPA office. You will find some of the best and brightest of our members are on the committees, and you can play an active role as an advocate for our profession, clients, employers, and fellow citizens. While many of our members are gearing up for the busiest work season of the year, the ASCPA staff will continue working hard to support you and to fulfil our mission to Enhance, Sustain, Educate, Advocate, and Cultivate. If you have ideas to share or suggestions on how we can better serve our members, please do not hesitate to reach out to me or the ASCPA staff.
James
January / February
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BUILD BACK BETTER LEGISLATION Potential Items of Significant Impact for Alabama Taxpayers KAREN R. MILLER, CULVERHOUSE SCHOOL OF ACCOUNTANCY
After the hectic December which we endured last year, most of us had hoped that we would not be in a similar position as we prepared for the end of 2021. Unfortunately, as of the date of publication for this issue, both the timing and the likelihood of the enactment of the federal Build Back Better legislative package (“BBB”) remain highly uncertain. Experts on Capitol Hill have differing views concerning the potential timing of a vote in the Senate and the reconciliation work by the Conference Committee, which leaves us with the difficult task of trying to anticipate what the circumstances may be in early January when you will receive this issue of Connections. The one thing that is certain is that there will be additional changes forthcoming due to the need to secure the critical votes in the Senate. Given the frequent modifications which were made to the BBB during the first three weeks of November, many taxpayers and practitioners might have missed some of the provisions in the latest version of the BBB which have not received as much attention and scrutiny in the media. Listed below are some of the individual, estate, trust, and pass-through entity provisions which could have a significant impact on Alabama taxpayers and which might have been initially overlooked. • New surcharge on high income taxpayers – lower thresholds for estates and trusts and characterization of surcharge The decision by the House leaders to remove the proposed rate increases on both ordinary taxable income and capital gains may have significantly reduced the potential impact of the individual provisions in the BBB for Alabama taxpayers. The original rate increases for ordinary and capital gain income would have likely created a negative impact for over 25,000
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Alabama taxpayers, but the newly proposed surcharge on individuals with modified adjusted gross income in excess of $10 million may impact a much smaller number of Alabama individual taxpayers, possibly as few as 1,000. While many of the individual taxpayers in the state will not be adversely impacted by this new provision, the story will be very different for the trusts and estates in Alabama. The new 5% surcharge will apply to trusts and estates with modified adjusted gross income in excess of $200,000, and the additional 3% surcharge (total of 8%) will apply to trusts and estates with modified adjusted gross income in excess of $500,000. Practitioners should be mindful of these low thresholds for estates and trusts when modeling the impact for their clients in 2022 and future tax years. Additionally, practitioners should be aware that the current version of the BBB includes a provision which indicates that this new surcharge will not be considered a tax for purposes of the calculation of many tax credits and the alternative minimum tax. If this language remains in the final version of the legislation, the impact of this provision on the Alabama federal income tax deduction will need to be considered. • Expanded scope of the net investment income tax – application to trusts and estates The version of the BBB which passed in the House includes the provision which expands the scope of the net investment income tax to include income from the ordinary course of a trade or business, and the new provision will apply to not only
individuals but also trusts and estates. Alabama trusts and estates which own an interest in a pass-through entity should consider the potential increase in the net investment income tax liability which could occur once the provision becomes effective in taxable years beginning after 12/31/2021. • Increased limitation for SALT deduction – extended duration of limitation Many Alabama taxpayers were thrilled to see the inclusion of the last-minute amendments to the BBB which incorporated a retroactive increase in the limitation on the deduction for state and local taxes for 2021. While the increase in the limitation from $10,000 to $80,000 ($40,000 for estates, trusts, and married filing separately) was welcome news, many taxpayers did not realize that there was a trade-off embedded in this new provision – the extension of the limitation period by six years. Originally, under the provisions of the Tax Cuts and Jobs Act, the limitation would have been in effect through 2025, but the new provision in the BBB extends the limitation period through 2031. If enacted, the $80,000 limit ($40,000 for estates, trusts, and married filing separately) will be in place through 2030, but practitioners and taxpayers should be cognizant of the return to the $10,000 limitation in 2031. • Significant scale-back in the originally proposed child tax credit, dependent care credit, and earned income credit provisions With the media’s focus on the revenue raisers in the BBB, many Alabama taxpayers were not aware that the version of the BBB passed by the
House did not incorporate most of the proposed tax credit enhancements and extensions which were originally included in the September version of the legislation. Of the credit enhancements and extensions which were originally proposed, the only provisions which remain in the Housepassed version of the BBB are (1) a one-year extension of the enhanced child tax credit and the continuation of the advance payments through 2022, (2) the modification to make the child tax credit fully refundable for tax years beginning after 2022, and (3) the one-year extension of the enhanced earned income credit provisions through 2022. The enhanced dependent care credit provisions were not extended beyond 2021, and therefore Alabama families who received the enhanced dependent care credits in 2021 should be aware that the credit will return to the pre2021 level in 2022. Alabama families should also continue to monitor the potential Alabama income tax consequences related to the enhanced credits received in 2021, as existing state law requires a reduction in the amount of the Alabama federal income tax deduction for the amount of credits received. It is possible that legislation may be filed early in the 2022 regular session, which begins in January, to retroactively address this issue for 2021. • Additional tax credit opportunities in the real estate sector The current version of the BBB incorporates the Neighborhood Homes Investment Act, which establishes a new federal tax credit to encourage the rehabilitation of homes in distressed communities. The new credits are designed to cover the gap between the development costs and the sales price of the homes, up to 35% of the eligible development costs. The credits will be provided to the states to administer and allocate
on a competitive basis through 2025. The tax credit ceiling for each state for each calendar year will be the greater of (a) $3 ($6 in 2025) multiplied by the state’s population, or (b) $4 million ($8 million in 2025). For Alabama taxpayers, the potential pool of available credits will thus be approximately $14.7 million annually in 2022-2024 and $29.4 million in 2025. • Change in the approach for determining the Section 163(j) limitation for partnerships and S corporations Alabama taxpayers may have missed this important provision which is buried in the voluminous proposed modifications to IRC Section 163. This provision would modify IRC Section 163(j)(4) such that the provisions of IRC Section 163(j) would apply at the partner or shareholder level, rather than to the partnership or S corporation as an entity. Taxpayers should also be aware that this modification would be effective for taxable years beginning after 12/31/22. Consistent with the earlier versions of the BBB, there are no proposed modifications to the original IRC Section 163(j) provisions which require the change from EBITDA to EBIT in calculating adjusted taxable income for purposes of the limitation in tax years beginning on or after 1/1/2022. • Restrictions on retirement account contributions and Roth IRA conversions and new required distributions for high-income taxpayers with significant account balances The House used the new retirement account provisions as the tool to fill the revenue holes in the BBB, particularly in the later years of the measurement period, and consequently the provisions may once again be modified as the Senate begins its negotiations and adjusts
the revenue targets. The need to fill the revenue holes caused the retirement account provisions which were included in the House-passed version of the BBB to have a myriad of differing effective dates which could potentially create confusion for taxpayers and practitioners. § The new restrictions on “back door” Roth conversions would be effective for tax years beginning after 12/31/21. § The new contribution limitations for high-income taxpayers with large account balances would be effective for tax years beginning after 12/31/28. § The new required minimum distribution provisions for high-income taxpayers with large account balances would also be effective for tax years beginning after 12/31/28. § The new restrictions on Roth conversions for the IRAs and employer-sponsored plans of high-income taxpayers would be effective for tax years beginning after 12/31/31. As the negotiations progress in the Senate, additional provisions could be added to the list of items shown above, given that Senator Wyden and others have already hinted at potential areas of revision. The ASCPA will continue to provide frequent updates on the status of the federal and Alabama legislative developments as they unfold in early 2022.
KAREN MILLER
ASCPA State Taxation & Legislation Committee Member and ASCPA Connections Contributor January / February
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profession FOCUS
PUBLIC ACCOUNTING • BUSINESS & INDUSTRY • TRENDING TOPICS
January 12, 2022 | Event Code: LS13055 8 hours CPE with possible 5 hours A&A Presented in partnership with Alabama, Georgia, Indiana, Michigan, Minnesota and Virginia State CPA Societies Focus on current changes, regulations and updates through a collaboration of experts and insights fusing around the topics that matter to you as you navigate the future. Cut through the fog and gain clarity on what’s happening in the profession and how you can forge a successful path forward.
Focus on…a thriving business
Gain inspiration and hear best practices related to managing change, building an engaged team, prioritizing diversity, equity and inclusion and attracting and retaining top employees.
Focus on…the technical
Hear the latest regulations, laws and planning strategies affecting individuals and businesses, such as internal controls, SSAE 10-22 and FASB updates.
Focus on…your professional development
Brush up on in-demand career competencies such as emotional intelligence, emerging technologies, ethics, business etiquette and leadership.
MATERIALS This is a paperless conference and all materials will be available electronically as PDFs. Materials will be available to download in advance and participants will receive an email when they are available.
Save your seat & register today at www.ascpa.org/ProfFocus22
program at-a-glance 9 - 9:55 a.m.
Welcome and General Session No One Can Stop You But You, Walter Bond, CPAE, CSP, Walter Bond Seminars, Inc., Boca Raton, Fla.
10:05 - 10:55 a.m. Breakout Sessions PUBLIC ACCOUNTING
Are Your Organization’s Internal Controls Sufficient to Manage Fraud Risk? (A&A) David Cotton, Cotton & Company, LLP, Alexandria Va.
BUSINESS & INDUSTRY
New Game, New Rules: Accounting in a Post-Quarantine Future Karl Ahlrichs, SHRM-SCP, SPHR, CSP, Gregory & Appel Insurance, Indianapolis, Ind.
TRENDING TOPICS
Hot Topics in Business Law Bruce H. Henderson, Esq., Phelps, Jenkins, Gibson, & Fowler, LLP, Tuscaloosa, Ala.
11:05 - 11:55 a.m. Breakout Sessions PUBLIC ACCOUNTING
Federal Tax Updates: Individuals Karen R. Miller, CPA, University of Alabama, Tuscaloosa, Ala.
BUSINESS & INDUSTRY
Ethical Considerations in Diversity, Equity and Inclusion Clare Levison, CPA, CGMA, Inspired Responsibility, Blacksburg, Va.
TRENDING TOPICS
Economic Update: Where Are We Now? Dr. Christopher Kuehl, Armada Corporate Intelligence, Kansas City, Kan.
12:05 - 12:55 p.m. Breakout Sessions PUBLIC ACCOUNTING
Federal Tax Updates: Business Karen R. Miller, CPA, University of Alabama, Tuscaloosa, Ala.
BUSINESS & INDUSTRY
How E.I. Makes You a More Effective Communicator Sarah Turner, Faurote Group, Indianapolis, Ind.
TRENDING TOPICS
Productizing Advisory Services Samantha Mansfield, Samantha Mansfield, LLC, Milford, Mich.
1:30 - 2:20 p.m. Breakout Sessions PUBLIC ACCOUNTING
Professional Skepticism (A&A) Tricia A. Van Vliet, CPA, The Wellness CPA PLLC, Grand Rapids, Mich.
BUSINESS & INDUSTRY
Inclusive Leadership: Do You Have What It Takes? Florence Holland, The Diversity Movement, Raleigh, N.C.
TRENDING TOPICS
Virtual Leadership Engaging Fully and Onboarding Effectively Kristen Schmitt, Thrive to Lead, LLC, New Albany, Ohio
2:30 - 3:20 p.m. Breakout Sessions PUBLIC ACCOUNTING
FASB Update (A&A) Michael Cheng, CPA, Frazier & Deeter, LLC, Atlanta, Ga.
BUSINESS & INDUSTRY
Analytics for the Accountant: Microsoft Excel Business Analytics Greg Creech, CEO, Techeductainment Services, Inc., Pine Lake, Ga.
TRENDING TOPICS
How to Unleash Your Employees’ Creativity Using Lessons from the Most Creative People in History Ralph Gaillard, M.Ed., The Adele Learning Lab, LLC, Chicago, Ill.
3:30 - 4:20 p.m. Breakout Sessions PUBLIC ACCOUNTING
Preparation, Compilation and Review (A&A) Kurt G. Oestriecher, Oestriecher & Company, Alexandria, La.
BUSINESS & INDUSTRY
Managing Employees in a Tight Labor Market Larry Morgan, MA, SPHR, SHRM-SCP, GPHR, Orion HR Group, LLC, Apple Valley, Minn.
TRENDING TOPICS
How a Single Cyber Attack Can Put Your Firm Out of Business and the Five Steps to Protect Yourself Tom Kirkham, IronTech Security, Fort Smith, Ark.
4:30 - 5:20 p.m. Breakout Sessions PUBLIC ACCOUNTING
SSAE 10-22: Agreed Upon Procedures (A&A) Melisa F. Galasso, CPA, CGMA, Galasso Learning Solutions LLC, Charlotte, N.C.
BUSINESS & INDUSTRY
TRENDING TOPICS
Self-Leadership in a Season of Uninvited Disruption Jonathan R. Lokhorst, CPA, PCC, Lokhorst Consulting LLC, Andover, Minn.
Practice Considerations for Adding Cannabis Industry Services to Your Firm Ronald L. Seigneur, MBA, CPA/ABV, ASA, CVA, Seigneur Gustafson LLP, Lakewood, Colo.
LOOKING FORWARD AND LOOKING BACK: A Report from the Alabama Department of Revenue MARY MARTIN MITCHELL As we embark on a new year, I am excited to share several new developments, new features, and highlights of what is on the horizon for 2022 at the Alabama Department of Revenue (ALDOR). However, it would be shortsighted not to look back on the close of 2021. A brief glimpse into last year will provide some prospective and help set the stage for the all the great things to come.
Bidding Adieu to 2021 Like in years past, the department rounded out the last year examining and providing succinct guidance concerning recent legislative changes to the tax code. ALDOR routinely posts guidance on its website as notices, memos and press releases. However, most often, the department utilizes the administrative rulemaking process to enshrine guidance and strictly detail procedure. Most taxing statutes delegate to the department rulemaking authority that is fundamental for effective tax administration. Any intended action taken to repeal, promulgate, or amend an administrative rule moves through a formal process dictated by the Administrative Procedures Act, which means that you can easily track the status and provide feedback directly
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to the department. The rulemaking process is transparent, and ALDOR posts all intended actions on its website and publishes them in the Alabama Administrative Monthly. We value feedback and invite you to engage with us in the rulemaking process. ASCPA has been integral in strengthening numerous rules by its participation in the process. ALDOR hopes you continue to share your thoughts, concerns, and support for any rules with us, either as an organization or as individuals, by submitting comment letters or attending rulemaking hearings. As noted above, legislative changes serve as the catalyst for many rule updates, and we are in the process of updating numerous rules. In the 2021 regular session, there were several big changes concerning corporate taxation as well as pandemic related relief for individuals that passed in Act 2021-1 (HB 170). For individuals, tax legislation ensured that COVID relief funds did not have unintended tax consequences. However, the more encompassing tax changes last session involved corporate taxation. More specifically, the largest changes on the corporate tax horizon deal with changing the apportionment factor for multistate entities to a single sales factor and eliminating the throwback
rule. Additionally, Act 2021-1 decouples Alabama law from certain federal provisions enacted by the federal Tax Cuts and Jobs Act (TCJA) that would impose additional tax burdens on Alabama taxpayers through the taxation of Global Intangible Low-Taxed Income (GILTI) and the taxation of contributions of capital by governmental entities to corporations. Further, this Act partially decouples Alabama from provisions of the TCJA that impose limits on the amount of business interest that corporations can deduct in a given tax year. These changes are all in the process of being incorporated into ALDOR’s administrative rules. Another part of Act 2021-1 that brought significant change was the Alabama Electing Pass-Through Entity Tax Act. This Act established an Electing Pass-through Entity (PTE) tax that allows members to elect for the income of the PTE to be taxed at the entity level to maximize the members’ benefit of deductions for taxes paid to state and local governments at the federal level. Later in the session, Act 2021-423 (HB 588) provided technical adjustments to clarify how members of an Electing Pass-through Entity (Electing PTE) should report their share of the pass-through entity’s income. Members are
required to report their pro rata or distributive share of the Electing PTE’s income as otherwise required by law. Members reporting this income will receive a credit for their pro rata share of the tax paid by the Electing PTE. The rules concerning PTEs are also moving through the rulemaking process detailed above. The rulemaking process is vital to effective tax administration. Please watch for certified rules concerning the highlighted 2021 tax legislation soon.
Looking New in 2022 The most striking transformation concerning ALDOR in 2022 is our new look. This year we will fully rollout the department’s new image and brand. If you have recently visited ALDOR’s website, then you have likely noticed some changes including the new logo. The design is a stark contrast to the state seal, which was previously used. The seal will still appear on tax forms. However, the logo is the department’s official brand. The new look is fresh, sophisticated, and reflects our innovative approach to state government. Each component of the logo is intentional and personifies ALDOR’s mission statement. Our goal is to instill confidence in ALDOR through every interaction with a taxpayer. Likewise, our brand must instill confidence. Our new look shows we are approachable and willing to help taxpayers meet their tax obligations. Every element of our brand is thoughtful in its design. Our logo is both a spark and a direction forward. It symbolizes our forward-thinking distribution of resources, which fund essential government services. The “arrow in” represents our collective contributions and the revenue we collect. The “arrows out” represent what we give back to the community through public service as well as the resources we distribute to state and local government. Together, they form rays of light that embody Alabama’s bright future. The brand rollout began with cosmetic updates to our website, followed by updated business collateral, and culminated in our year-end General Summary of State Taxes and Annual Report. In 2022, we will complete the rollout. This year all notices and other correspondence will display the logo. Thus, you and your clients should expect to receive updated notices soon. However, the changes on the horizon are not all merely cosmetic.
We are working on a structurally improved website that is being rebuilt from the ground up. We expect the new website to go live in the second quarter of 2022. Our current website is focused on ALDOR’s divisions, but the new website will be completely taxpayer-oriented. It will have filters geared toward individuals, businesses, and professionals that will quickly route a user to the information they seek and appropriate tax division. The new website will also have a convenient chatbot that taxpayers can use when they have questions or seek specific guidance. Additionally, ALDOR’s My Alabama Taxes portal, or MAT, is getting a makeover and a host of improvements aimed at making the filing and payment portal easier to use. These MAT improvements are designed to easily direct a user to important content. We have also improved the MAT experience for accountants. Features such as Favorites and access to recent taxpayers make it easier to find and manage specific tax accounts with outstanding tasks. The MAT updates are also targeted to enhance accessibility for mobile users. ALDOR’s new brand coupled with its taxpayeroriented website redesign will make it easier for taxpayers to meet their tax obligations. Please be on the lookout for these exciting changes.
Embracing E-filing ALDOR has consistently leveraged technology to provide improved services to taxpayers. In that vein, we strive to continually improve our internal processes by allowing for faster and more seamless processing of tax returns. We ask that you do your part to help ensure quick processing by filing returns electronically.
process. See § 40-30-7, Ala. Code 1975. ALDOR clearly states that returns are to be electronically filed in Ala. Admin. Code r. 810-1-6-.01. If you are unable to meet the electronic filing requirement, then you should notify the department to request that the return be approved to be filed in another manner. No paper return should ever be submitted without ALDOR’s express prior approval. Moreover, tax preparers have specific legal obligations to electronically file the returns they prepare. Ala. Admin. Code r. 810-3-28-.07 and 810-3-39-.12 both set mandates for preparers filing 25 or more returns. Additionally, these rules also explicitly mandate corporations with assets of $5 million or more, or partnerships with 50 or more partners at the end of the corporation’s/ partnership’s taxable year to e-file Alabama corporate/partnership income tax returns for that calendar year and all subsequent tax years. Failure to comply with the e-filing mandate without express approval to file a paper return may result in your return being rejected for non-compliance. ALDOR hopes that a friendly reminder concerning e-filing mandates sets the stage for increased compliance with established law resulting in faster processing times for all returns. Engaged rulemaking, taxpayer-focused design changes, and leveraged e-filing technology are only a few examples of the developments, features, and highlights you can expect to see from ALDOR in 2022. We are excited to continue our progress and better serve you. It is all part of our commitment to effectively administer the revenue laws in an equitable, courteous and professional manner.
Established Alabama law mandates that returns be e-filed. Specifically, the Electronic Tax Return Filing Act allows ALDOR to prescribe filing methods for returns to standardize the filing
Mary Martin Mitchell currently serves as acting director of the Alabama Department of Revenue’s Tax Policy and Governmental Affairs Division. Mary Martin received her bachelor’s degree in finance, magna cum laude, from the University of Georgia. She received her juris doctor degree from the University of Alabama School of Law in 2010. As Acting Director of the Alabama Department of Revenue’s Tax Policy and Governmental Affairs Division, Mitchell is responsible for overseeing the administrative rulemaking process, issuing Revenue Rulings, and serving as a liaison between the department and the Alabama Legislature.
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SAVE THE DATE! 103 Annual Meeting of the Alabama Society of CPAs rd
JUNE 14, 2022
BIRMINGHAM, ALABAMA
Keynote Speaker – Dr. Steve Robbins Dr. Steve L. Robbins is the founder and owner of S.L. Robbins and Associates, a consulting firm on issues of human behavior based in Grand Rapids, Michigan. The company serves a growing variety of local and national clients. As a keynote speaker and author, Steve has had the opportunity to assist major corporations and clients throughout the world, such as Disney, Walmart, NASA, Caterpillar, Boeing, Microsoft, Gap Inc., Michelin, Toyota, and Daimler-Benz. efore starting S.L. Robbins and Associates, Steve was a professor at Aquinas College where he shared his vision B and passion for inclusion with his students. He is a specialist in communication, socio-psychology and cognitive neuroscience. At its core, Steve’s work with individuals and organizations is about understanding human behavior and leveraging human differences in an ever-changing, fast-paced 21st century world. Steve began presenting his work to clients and was invited to be a keynote speaker at various events. Now he works with organizations and consults them on creating new solutions and conversations centered on an inclusive workplace. To accompany his ideology, Steve wrote his first book, “What If? Short Stories to Spark Diversity Dialogue,” which is now used by numerous organizations and schools to invite people into deeper conversations about diversity, inclusion and the power of caring. S teve earned his bachelor’s degree in Communications from Calvin College, and his masters and doctorate degrees in Communication Science from Michigan State University. When he is not traveling, Steve spends time rooting for the Michigan State Spartans. Robbins’ personal story of emigration from Viet Nam, racist bullying, loss of his sister and mother forms the linchpin of his work.
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ASCPA Connections
2022 ASCPA
Conferences and Workshops ProfessionFOCUS
January 12, 2022
Virtual
EBP Workshop May 20, 2022 ASCPA offices, Montgomery ASCPA Beach Clusters
June 8 – 10, 2022
Hilton Garden Inn, Orange Beach
Annual Meeting
June 14, 2022
Not-for Profit Summit
July TBD
Trinity Presbyterian Church, Montgomery
Summer Education Conference
July 18 – 22, 2022
The Lodge, Gulf Shores
FAAC
September 30, 2022
Emerging Leaders Conference
October TBD
Birmingham
GAAF
December TBD
Montgomery
The Club, Birmingham
Auburn University Montgomery
MORE INFORMATION AND REGISTRATION ARE AVAILABLE ON THE ASCPA WEBSITE.
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It’s a milestone that only a few Alabama CPA firms have achieved: 90 years of business. Even more impressive is the fact that a third generation of the Kassouf family is poised to accept firm leadership. Jonathan Kassouf, Michael Kassouf and Brad Stephen, along with others in the firm are all rising to the challenge. First, let’s go back to the beginning. Both sides of David and Gerard (Gerry) Kassouf’s family emigrated from Lebanon, with their paternal grandfather entering through Ellis Island. Their father, L. Paul Kassouf attended Birmingham Southern College and received a Julius Rosenwald Fund Scholarship for the University of Chicago to complete his master’s degree. World War II intervened and he joined the U.S. Army, rising to supply sergeant in Belgium. Even then he was conducting inventories and “accounting” for military materiel! When the war ended, he was able to attain 14
ASCPA Connections
his master’s degree at the University of Chicago, but finding a job in post-war Birmingham was another thing entirely. DAVID KASSOUF “He told me how he went from office building to office building in downtown Birmingham, searching for a job. One day on the advice of his sister-in-law, he spoke to Sam Hartman, whose office was in the Frank Nelson Building. While Mr. Hartman indicated he did not have an open position, he asked a lot of questions of dad and, on the spur of the moment, invited him to a client meeting. Hartman set a task for him and when he completed it, he was invited back to the office the next day, and each day that week. Our father received a check for $45 at the end of the week and he joined the firm of Hartman and Mitchell. Mr. Hartman died in 1960 and the firm became Kassouf and Mitchell. The family of the client our father visited on that first day is still doing business with us.” The firm relocated from the Frank Nelson Building to one which was located on 14th Street in a small commercial building
before moving to University Boulevard. That building underwent many changes as the staff grew, culminating in a major renovation before being sold three years ago, when the firm moved to spacious new quarters on Highland Avenue. When the third generation was asked why they joined the family business their answers were varied. MICHAEL KASSOUF (David’s son) “I’ve always been interested in the inner workings of business. All the cousins were employed by Kassouf during the summers, although not doing anything high level! But I think there was some kind of osmosis at work, where we soaked in the Kassouf culture. I like working with clients, we had a strong work ethic instilled in us by our grandfather and parents. And an added benefit was working with members of our family in the office each day as well as seeing them on weekends.” JONATHAN KASSOUF (Gerry’s son) “I was originally a biology major with the goal of becoming a physician. I had tested
out of a lot of undergraduate science courses and this left me time to take some business classes. In my sophomore year I changed majors. I worked for a Big Four firm after college and moved to Kassouf in January 2008, just six months before our grandfather passed away. He was the patriarch of our family and it was such a joy to see him in the office a couple of times a week during that final period of his life. My desire to be a doctor stemmed from an impulse to help people. It’s only as I reach some professional perspective or maturity that I see what we’re doing as an enormous service. It didn’t hurt that one of the largest areas of our practice has become healthcare, giving me a closeness to my original professional goal.” DAVID KASSOUF “The healthcare specialization came about when we had a physician come to us and ask for help. When he saw the expertise we offered to streamline processes, to handle many HR functions that a small practice does not have the ability to deal with, he became our biggest advocate. I always say that the doctors themselves were our best advertising, and the healthcare segment of the practice exploded. While our early clients were in private practice, having a vital regional medical community here in Birmingham was a plus.” BRAD STEPHEN (Gayle’s son) “Like Jonathan, I also thought I’d be a doctor! My mother is David and Gerry’s sister and she ended up working at the firm for 35 years. She still comes in to work for a couple of hours a month. As I attended the weekly family dinners, my grandfather would take me aside. He had a special way of dispensing advice. He wouldn’t exactly TELL you what to do, but by the end of the conversation you realized that you had bought in to his plan for you. It meant that I joined the firm.”
and helped us to develop a professional mindset.” DAVID KASSOUF “Gerry and I often talk about the fact that women were not encouraged to jump into the accounting business back when we started. Our sister Gayle became a computer analyst, travelling all over the southeast while having a young family. At one point she was rethinking her goals and how she could better manage the demands on her. We asked her to come in and help with a technology issue at the firm. She very quickly became an integral part of the firm, functioning as a high-level firm administrator. We often joke that if our other sister, a school teacher, had come into the firm early on, we’d all be working for HER!” GERRY KASSOUF “Our sister Gayle’s being in the firm also sent a message to other women professionals and we now have 70% women on our staff. We do our best to find quality talent through our relationships with colleges and universities in the state. It’s become so important for recruitment and retention to be more sensitive and open to the needs of both men and women professionals as they progress in their careers and start building their own families. If David and I have any regrets about the days when our children were young, this would be it. We’re where we are because of the effort we put into the firm, but we didn’t spend as much time with our family then as we would have liked. That alone has helped us to create a culture in the firm policies which benefit all of us.” My spouse, Nazha, has also been a part of the firm for the past few years. What about the changes and challenges the pandemic brought to your firm? GERRY KASSOUF
MICHAEL KASSOUF “I’m going to interject here and say that entering the firm did not mean any favoritism from my dad or Gerry or Gayle. In fact, I think they expected more of us and cautioned us to trust the process
“Even before COVID we saw the benefits of going paperless and of the technology which allowed remote access. The weekend before the shutdown we had a firm-wide testing of all our equipment to make sure it was functioning. Then we just jumped in. I think we have been impressed by how the
flexibility of remote working has been to our advantage. We’d see someone off-line for the hours when their children were a priority, then sign back in once the house was quiet. Giving that autonomy to our staff has paid off in tangible and intangible ways.” Who’s the visionary and who’s the “nutsand-bolts” guy? DAVID KASSOUF “There’s no question that Gerry is the visionary and I’m carrying the toolbox! He’s always thinking ahead to the next best way to build and maintain the firm. He looks at trends and sees how they will benefit us or how we can customize them to fit the firm culture. It was his idea to join CPAmerica and expand our resources through this alliance. I’m always impressed with his thoughtful and wide-ranging view of the firm’s future.” What has Kassouf done to preserve some “old school” practices? JONATHAN KASSOUF “I like to pick up the phone and talk directly to clients. It shows them that we care, that it’s not just dashing off a quick email, but voice-to-voice contact that is important to us. My grandfather never left the office without returning every phone call that had come in during the day.” MICHAEL KASSOUF “One of the practices that I’ve come to appreciate more is our year end planning meetings with clients. Those have given us a chance to check in with clients on both a professional as well as a personal basis. To see who has a new child or grandchild, a new dog, a new vacation home, or to monitor how we can better serve an ill or aging client. Not only are the staff and professionals at our firm members of our larger family, so are these long-term clients. We’ve been with them through successes and setbacks and it’s very personal. It’s a relationship that we treasure and plan on continuing for the next 90 years.”
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MEMBER PROFILE
Caitlyn Grimme
C PA A N D PA R T- T I M E P U B L I C S P E A K E R
Caitlyn Grimme, CPA, CFE at Crow Shields Bailey in Mobile did not think she’d end up doing this much public speaking. But during the University of South Alabama’s 2021 Women in Business Week she completed her second major talk to students. In 2019 she spoke to accounting students only and was able to target their specific interests.
“I talked about what I wish that I had known when I was sitting in class. There’s so much that’s intangible that never gets covered in an academic setting and yet is really important when you start your first job.” Although it’s Women in Business Week, her class audience in 2021 was equally divided, not only between men and women, but also with students from other disciplines than accounting.
“That threw me a little bit of a curve, since I had my notes from my first talk down pat. I shifted away from CPA path specifics and talked more about office culture, what to look for in the hiring/recruiting process. I did reflect on some of the statistics from the AICPA’s latest survey which showed increasing participation of women in accounting and finance. I also shared what are acceptable modes of behavior in an office and the value of hard work. For these students, many will experience more open discussions among different levels of management. I didn’t think I should utter a peep in my early days and gradually learned that my superiors were interested in what we younger associates brought to the table.” Since Grimme is a certified fraud examiner, with a passion for the field, she couldn’t help but present some case studies from the Mobile area.
“I work primarily in audit at Crow Shields Bailey and am working to build our anti-fraud practice. It’s an exciting variation on my day-to-day responsibilities and I do like sharing some of those aspects of my work. Let’s face it, finance and management professionals are faced with fraud, as well as the chance to commit it. It’s important for them to understand that a firm’s audit of a company may expose some evidence of fraud, but that is not the auditors’ primary role. Having everyone share a heightened awareness of fraud is so important.”
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ASCPA Connections
As president of the recently revitalized Gulf Coast’s chapter of the Association of Certified Fraud Examiners, Grimme is working to increase local training on fraud topics. In fact, the chapter will host their kickoff seminar in January with a case study focused on procurement fraud.
“There are not many university courses aimed towards fraud prevention and deterrence at the undergraduate level. As the criminals become more sophisticated, we’ve got to keep pace with trends and be able to head off fraud or identify it early. We all know about the slippery slope which even CPAs have fallen down when placed in a position where one poor decision leads to another and another. Having an ethics requirement is just one way for us to make sure we’re keeping on the right track.” Grimme had plenty of other information to share with her audience, her own story to tell.
“I always encourage non-traditional students since I was one myself. I had a daughter, worked and attended school full-time, and completed an unpaid internship on the side! No idea how I did that, but the determination to succeed drove me. It’s that resilience and motivation that I also bring to our career advisor program at CSB. I am a coach and a mentee at the same time. I enjoy helping new staff, advocating for them when needed, giving them encouragement, too. It’s important for them to keep their energy high and to keep a ‘looking forward’ mindset. That role is such a joy for me.”
REMEMBERING JUDY KAMNIKAR DR. KEREN DEAL, CPA
On October 7, 2021, Judy Kamnikar passed away in Colorado with her family by her side. Judy’s impact on the accounting profession in Alabama (and beyond) is legendary and she will be remembered fondly for her many contributions. After serving in faculty roles at Indiana University Fort Wayne and University of Southern Colorado, Judy joined Auburn University in Montgomery (AUM) in 1985 as Department Head of the Department of Accounting. She taught Intermediate, Governmental and Advanced Accounting courses and many of her students have gone on to be partners at local and national CPA firms, and accounting supervisors and controllers and government organizations not only in Alabama but at the national and international level. Judy’s advocacy of students was seen early in her time at AUM when she helped to develop the ASCPA’s Accounting Interview Day in the early 1990s. This program has allowed many students from smaller accounting programs in Alabama the opportunity to interview with quality employers that generally did not come to their schools directly. Schools such as Montevallo, AUM, and others have participated in this event for over 30 years. Judy spearheaded and helped guide many accounting program initiatives at AUM including the Master of Accountancy, the Government Financial Management Certificate, and separate accreditation for the accounting program under the Association to Advance Collegiate Schools of Business (AACSB) – a designation only 188 accounting programs hold worldwide. Judy served as Department Head for the AUM School of Accountancy several times, special assistant to the Chancellor, and as Lowder Weil Chair for the College of Business. She was the 2013 ASCPA Alabama Educator of the Year and she co-authored over 100 research articles that
appeared in national and international journals. In 2008, she was awarded the prestigious Cornelius T. Tierney/Ernst and Young Research Award by the Association of Government Accountants (AGA) at the international level. She was also awarded Professor Emerita upon her retirement from AUM in 2015. As to Judy’s service to our profession, her contributions are too numerous to count. Judy was instrumental in developing the Financial Accounting and Auditing Conference (FAAC), co-sponsored by the AUM School of Accountancy and ASCPA, that celebrated its 34th year in September 2021. In addition, she helped to organize the Governmental Accounting and Auditing Forum (GAAF), co-sponsored by GFOAA, AGA and ASCPA, which is held each year in December. She and her husband, Ed (Retired Accounting Professor for Troy University) were instrumental in providing training and education materials for the Certified Government Accounting Technician (GGAT) program that is sponsored by the Government Finance Officers Association of Alabama (GFOAA) as well as helping with the training related materials for the Alabama Association of School Business Officials (AASBO) Local School Financial Management Certificate Program. As a result of the many contributions made by the Kamnikars to the field of government financial management in Alabama, GFOAA created the Ed and Judith Kamnikar Award of Merit that is awarded to those who have provided outstanding service or achievement in the governmental accounting and finance field and service to GFOAA. I was one of the lucky ones to benefit not only from Judy’s teaching in the classroom but also as a colleague from 2000 – 2015
at AUM. Judy served as my mentor, my co-author, my champion, and, most importantly, my very good friend who provided love and support to me and my family for many years. My son, who is now 19, didn’t know Judy as the tough faculty member or the colleague who worked tirelessly for students and AUM – he knew Judy as “the cookie lady” who supplied him with Christmas cookies and a case of Girl Scout Thin Mints each year with a note that said, “These are for Zack only – Mom and Dad can get their own.”
As many will agree, there will never be another Judy Kamnikar and our lives were certainly richer and more beautiful for having known her. She is survived by her loving husband and partner, Ed, and her children – Lisa (Michael), Stacy (Kathy) and Tony – along with two grandchildren – Sarah (Ian) and Anne and one great-grandchild (Walter). Judy cherished her time with her immediate and extended family and friends worldwide and shared about their travels, adventures, and many accomplishments on a regular basis. She had a special passion for the arts and enjoyed attending any type of theater/music event. Her years of advocacy and support of the profession, students, and AUM alumni along with her contributions through research and service to organizations such as ASCPA, GFOAA, and AGA will be appreciated and felt for years to come. Without a doubt, she will be missed, but her legacy will continue.
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MEMBER NEWS CDG Engineers and Associates, Inc., a privately held engineering firm in Andalusia, announced today the addition of Chief Financial Officer Marc Hamilton as a stockholder in the firm. He joins 16 other employees as owners responsible for providing operational direction. Dr. Steve Grice, Director of the School of Accountancy at Troy University, was named the 2021 Sun Belt Conference Faculty Member of the Year. The annual award recognizes a faculty member from each Sun Belt institution who has a passion for teaching, engaging and inspiring students, while also separating themselves from their peers outside of the classroom by regularly supporting and displaying enthusiasm for the athletics department. As the Director of Troy University’s School of Accountancy and the Botts Professor of Accounting, Grice earned the 2018-19 Outstanding Accounting Educator by the Alabama Society of CPAs. In 2016, Grice was a gubernatorial appointment to the Alabama State Board of Public Accountancy, and he was assigned to the National Association of State Boards of Accountancy Education Committee for 2019-20. “Without exception, the personal qualities of our student-athletes that come to mind when I reflect on my experiences are integrity, dedication, discipline, strong work-ethic, courteousness, grit, and respect,” Grice continued. “It has been a joy to observe our student-athletes apply these qualities as they successfully navigate through their academic program while juggling the demands of being an NCAA athlete.” Grice holds a Bachelor of Science degree in Accounting and Business Administration from Troy University, a Master of Accountancy from the University of Alabama and a Ph.D. in Financial Accounting from the University of Alabama. “Without question, my experiences with these young student-athletes have added a flavor to my academic career that is unmatched,” Grice said. “It has been an honor to play a small role in their lives.” Effective January 1, 2022, Grice will retire from Troy University. He has served as the Director of the School of Accountancy since 2017, joining the Troy faculty as a professor in 1997. From 2007 to 2012, he served as a professor at the University of Alabama at Birmingham before electing to return home to Troy University. During his tenure at Troy, Grice has been a professor, served as Director of the Master of Accountancy program, and was the Botts Professor of Accounting. “Steve Grice will be greatly missed. He has been a great leader, mentor, and friend. He has influenced the lives of countless students in his time at Troy. His contributions to the university and the accounting profession are second to none. Steve leaves behind a legacy that will continue for many years to come.” Amanda Paul, CPA, Troy University
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ASCPA Connections
Hamilton becomes a partner of CDG after serving as an associate of the firm for three years. He joined CDG six years ago as the Chief Financial Officer responsible for overseeing the firm’s accounting and financial activities. Hamilton is licensed as a certified public accountant and brings 35 years of experience in tax and corporate accounting. Hamilton holds a bachelor’s degree in accounting from Athens State University and a master’s degree in tax accounting from the University of Alabama. Hamilton focuses his efforts on analyzing data, designing and implementing processes across the company, and incorporating emerging technology into financial activities. During his time at CDG, the firm has seen a substantial increase in company value along with considerable debt reduction. Wilkins Miller announced that Lyndsey Dixon was named a “Leading Lady” by the Girl Scouts of Southern Alabama. The award celebrates individuals who are making a positive impact in their communities, especially in directing those efforts to support the advancement of girls and women. She has taken a leadership role in launching the Wilkins Miller Women’s Initiative, where she participates in designing programming which encourages connections for women within the firm and community. Dixon holds the CVA designation. The firm also announced that Erin Jones was named to the 2021 class of Associated General Contractors’ “40 Under 40”. Jones specializes in construction, helping companies navigate complex tax, accounting and consulting issues. She has been part of the trade group for five years. Albertville High School inducted Tony Raymond Cochran into their Distinguished Alumni Hall of Fame. The selection committee cited his professional achievements as well as his involvement with community and charitable causes. Cochran was graduated from UAH and became a CPA in 1981. His many roles include chair of the Albertville Chamber of Commerce, Albertville Rotary, founder and chairman of the Albertville City Schools Foundation, treasurer of the National Acoustic Neuroma Association, board member (and lifetime member) of
the North-Central Girl Scouts, executive committee member of the Business Council of Alabama, chairman of the Alabama Small Business Commission, and a ten-year member of the Alabama Sports Hall of Fame selection committee. Huntsville Health Care Authority welcomed Roy D. Rollings of Guntersville as at-large member of the governing board. He is a partner with the Gateway Group of Guntersville and was named Citizen of the year in 2019. Walt Ellis has been promoted to Dothan City President at Troy Bank and Trust Wiregrass Region. He is a graduate of Auburn University with a degree in finance and a 2015 graduate of the Alabama Banking School. He serves as a board member of the Dothan Chamber of Commerce and a member of the boards of both the Southeast Health Foundation and the Houston County division of the Wiregrass United Way. Warren Averett CPAs and Advisors announced that the following have become members of the firm, effective January 1, 2022. Jonathan Chancey (audit, Montgomery) is the Firm’s regional industry leader for manufacturing and distribution in central and southeast Alabama. He focuses on providing clients with operational and compliance services and leading clients’ strategic planning to higher levels of effectiveness. Anna Goldman (audit, Mobile) serves a wide range of clients in the construction, manufacturing, maritime and healthcare industries as well as clients in the public sector. She serves on the Firm’s Audit Best Practice Leadership Group, which aims to improve and maintain compliance with technical, technological, and procedural matters. She began her career in the Firm’s Montgomery office and then transferred to the Mobile office. Jim Lazenby (Asset Management, Birmingham) provides corporate, partnership, estate, trust and gift tax services, including individual and estate tax planning services. He specializes in family limited partnerships and charitable planning and holds the AEP (XX designation). Michael Nix (audit, Birmingham) acts as clients’ contact throughout the financial statement audit process and manages team members within Warren Averett’s Audit Division. Michael also serves on the Firm’s Audit Best Practice Leadership Group, which aims to improve and maintain compliance with technical, technological and
procedural matters. Michael Rebarchak (audit, Birmingham) has experience serving clients across multiple industries, including healthcare facilities/hospitals, distribution, natural resources and technology. He is a member of the Firm’s healthcare client service group, manages staff on audit engagements and works with clients on implementing new accounting standards updates and their impact on financial reporting. Ryan Grauel (audit, Birmingham) has experience serving clients across multiple industries, including manufacturing, private equity, technology and nonprofits. He is also a member of the Firm’s Audit Best Practice Leadership Group, which involves ensuring the Firm’s Audit Practice is continuously improving and maintaining compliance with technical, technology and procedural matters. Jackson Thornton announced that Allison H. Guice and Daniel Tew are the firm’s newest principals. Guice is in the firm’s Montgomery office and has more than 15 years of experience providing business valuation and tax consulting/estate planning services to clients throughout the Southeast. In 2019, she joined Jackson Thornton Asset Management. Guice currently serves on the board of directors for the Alabama Society of Certified Public Accountants (ASCPA), the Montgomery Estate Planning Council, Alabama Christian Academy, and Aid to Inmate Mothers. She is a past president of the Jackson Thornton Young Professionals group, a graduate of Leadership Montgomery Legacy Class XXXIV, and a founding member of the Child Protect Junior Executive Board. Guice was selected as the 2014 AICPA/ASCPA Women to Watch – Emerging Leader. Guice holds professional membership in the American Institute of Certified Public Accountants, the ASCPA, and the National Association of Certified Valuators and Analysts. In addition to being a CPA, she holds the Personal Financial Specialist (PFS), Certified Financial Planner (CFP®), Certified Valuation Analyst (CVA) and Accredited in Business Valuation (ABV) designations. She is a graduate of Auburn University Montgomery where she received both her undergraduate and graduate degrees. Daniel K. Tew is in the firm’s Dothan office and has provided tax and consulting services to owners of small businesses and high net worth individuals for more than 10 years. In 2020, Tew joined Jackson Thornton Asset Management and advises clients on wealth management strategies and planning. In addition to being a CPA, Tew also holds the Personal Financial Specialist (PFS) and Certified Financial Planner (CFP®) designations. He holds professional membership in the American Institute of Certified Public Accountants
and the Alabama Society of Certified Public Accountants, where he is past president of the Dothan chapter. He also currently serves as an associate member of the state board of the Associated General Contractors (AGC) as well as vice chairman of the AGC - Dothan section. Tew is a past chair of the board of the Dothan Area Young Professionals as well as having served as treasurer for the Alfred Saliba Family Services Center and chairman and treasurer of the Geneva County Board of Wiregrass United Way. He is also a former board of trustee member of Wiregrass United Way and a current member of the Dothan Rotary Club. Tew is a graduate of the 2016 class of Leadership Dothan and was recently selected as one of the Top 40 Under 40 in Commercial Construction by the Alabama AGC and Business Alabama. Tew received his undergraduate degree from Auburn University and his MBA from Troy University. Aldridge Borden & Company announced the following promotions: Jessica Hudson has been promoted to assurance partner. She joined the firm upon graduating from Auburn University Montgomery in January 2006. Jessica primarily serves clients in the not-for-profit industry and governmental sector. She leads the firm’s OneSource Not-For-Profit/Governmental CFO Division. Jessica has earned the Advanced Single Audit Certification awarded by the AICPA and works extensively with clients subject to Federal Single Audits and Governmental Accounting Standards. Jessica is a member of the Alabama Society of Certified Public Accountants and the American Institute of Certified Public Accountants. She currently serves on the board of directors for The Wellness Coalition. Amanda B. Hines has been promoted to Assurance Principal. Amanda earned a bachelor’s degree from the University of Alabama at Birmingham and a master’s degree in public accounting from Clemson University. She joined the Firm in 2013 and specializes in audits of non-profit and governmental organizations including schools, churches, city governments and water authorities. Amanda is a member of the Alabama Society of Certified Public Accountants and the American Institute of Certified Public Accountants. Joe Mills has been promoted to OneSource Principal. Joe joined the Firm in 2012 upon graduating from Auburn University Montgomery with a BS degree in accounting. Joe uses his experience in audit and tax to manage OneSource clients and assist them with financial reporting, payroll and internal accounting processes. Joe is a member of the Alabama Society of Certified
Public Accountants and the American Institute of Certified Public Accountants. Shana M. MacDonald has been promoted to Manager in our Taxation and Assurance Departments. Shana earned a degree from Auburn University Montgomery and joined the Firm in 2016. Shana specializes in individual, partnership, and corporate taxation and has extensive experience in attestation. Shana is a member of the Alabama Society of Certified Public Accountants and the American Institute of Certified Public Accountants. Karen Keith was promoted to private banking loan officer at MidSouth Bancorporation in Dothan. Keith is a graduate of Troy University and joined the bank in 2017 as a commercial credit underwriter. She’s a member of the Dothan Area Chamber of Commerce board of directors and volunteer with Fostering Hope of the Wiregrass as well as Dothan City Schools. Sovereign CPA Group announced the following promotions: Jason Lybrand has been promoted to audit partner. He was graduated from UAB in 1998 with a double major in accounting and finance. He also earned his master’s degree in business administration from UAB in 2001. Lybrand has over 23 years of accounting experience including 20 years in public accounting. His areas of expertise include experience in auditing, accounting, financial reporting, and corporate tax. He has served clients in various industries including construction, manufacturing, insurance, retail, and wholesale trade. He is a member of the AICPA and ASCPA. Jennifer Vest has been promoted to senior audit manager. Vest has been with Sovereign CPA Group, LLC since 2010. She received a bachelor of business administration from the Stephens College of Business at the University of Montevallo in 2004 and has worked in public accounting since graduation. Her areas of expertise include experience in auditing, financial reporting and corporate income tax. Vest has served clients in various industries including insurance, retail, employee benefit plans, not-for-profits and construction. Andrew Austin has been promoted to Audit and IT Manager. A graduate of the University of Alabama, Andrew earned both a bachelor of science in accounting and masters of accountancy. Austin has worked in public accounting since 2004 with experience performing audits, compilations and reviews for numerous industries including construction contractors, employee benefit plans, wholesale distributors, not-for-profits and service industries.
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SALT CORNER
IMPORTANT TAX LEGISLATION TO WATCH IN THE 2022 REGULAR SESSION BRUCE ELY AND WILL THISTLE, BRADLEY ARANT BOULT CUMMINGS LLP
THEY’RE B-A-A-A-A-CK... Because 2022 is an election year, the start date for the Alabama Legislature’s regular session comes early: Tuesday, January 11. The Boss (otherwise known as Jeannine) asked us to offer some unofficial prognostications on the major items of tax legislation we can expect to see introduced in the session. This is of course a moving target and we’re offering only our personal opinions, which are not necessarily those held by our law firm, clients, or business and professional associations we are affiliated with.
response bills pushed through at the last minute. Nevertheless, there were still issues left on the table when the session adjourned. Our gratitude goes to TCJA Task Force Chairs Sen. Dan Roberts and Rep. Danny Garrett and their indefatigable technical adviser, UA accounting instructor, Karen Miller, as well as our own Jeannine Birmingham and State Tax Committee Chair Karen Poist, for working diligently with the Revenue Department and the Legislative Services Agency to attempt to whack all the moles.
More Federal Stimulus Act Conformity Legislation. Readers may recall, in a game reminding us of whack-a-mole, the Legislature constantly had to address whether to conform, decouple, or do nothing in response to three stimulus bills passed in rapid succession by Congress. Although Alabama Act # 2021-1 was this Spring’s omnibus tax conformity and de-coupling bill, there were two other stimulus-
Without knowing at this point whether President Biden’s “Build Back Better” Reconciliation Bill will pass in one form or another, the major item remaining from last session relates to our rare federal income tax (FIT) deduction. Specifically, we’re focusing on individual taxpayers who receive by year-end one of several targeted FIT credits, including the Earned Income Credit and the Child Care Credit. As a result, they’ll pay
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less FIT than they otherwise would. But that in turn translates to a correspondingly smaller FIT deduction and a larger Alabama tax liability in many cases. This bill would in essence restore to them the lost FIT deduction resulting from the receipt of any of those FIT credits. Losing part of the FIT deduction while receiving a dollar-fordollar federal tax credit may not materially harm many taxpayers, financially, but the revenue gain, absent passage of this bill, was scored last session at approximately $87 million. And many if not most of the affected individuals/families are low-income taxpayers. 30-Day Extension of Due Date for Alabama Corporate and FIET Returns Beyond Extended Federal Due Date. The AICPA, the Council On State Taxation (COST), and the Tax Executives Institute (TEI) are urging state legislatures across the country to amend their filing deadlines to give corporate taxpayers (including financial institutions but
not individuals or pass-through entities) the option of filing their state income tax return up to 30 days after the extended due date of their federal return. The influential Business Council of Alabama (BCA) recently endorsed that proposal and a majority of the other states have already passed enabling legislation. To mitigate what might otherwise be a substantial revenue deferral to the State, the extension language only relates to filing the Alabama return, not to paying the tax itself.
also don’t like the distribution formula and want more of the revenue allocated to them, either by formula or by allowing them to require out-ofstate or internet vendors to register with them and pay tax directly to them. The latter situation would be problematic on a number of levels. We would expect any changes to the existing SSUT program to either be increasing the tax rate to something between 9 and 10% and/or allocating a different portion of the new revenue to the cities.
R&D Income Tax/FIET Credit. After more than ten years of bouncing around the Legislature in one form or another, this bill may finally have “legs” in light of the recent endorsement by the Alabama Innovation Commission to the Governor. The endorsement, however, didn’t include a description of the bill nor which taxpayers could claim it (“certain targeted industries”), but most bets are on the most recent version of the bill (HB 244) that garnered the support of the business and higher-ed community and key business associations/ chambers of commerce such as the BCA and the Birmingham Business Alliance, in the past few legislative sessions. Among other things, the current version of the bill includes a supersize tax credit if the taxpayer pays an in-state university, college, or non-profit research institution to perform the qualified R&D.
Joint Audits by the ADOR and Local Taxing Authorities. The Association of County Commissions of Alabama (ACCA) lists as one of its 2022 legislative priorities “[t]o establish workable solutions between local officials and the Alabama Department of Revenue to ensure the application of efficient and effective tax administration processes and procedures at the local level.” The BCA has language in its recently adopted 2022 tax legislative agenda that sounds similar. However, we suspect that the ACCA’s interpretation of that language may be just a bit different than the BCA’s and that of the Birmingham Business Alliance, Alabama Retail Association and NFIB, but let the negotiations begin.
Grocery tax repealed or reduced. Call us crazy (or at least call Bruce crazy, because Will doesn’t think this will pass), but this may be the year the Legislature finally resolves either to repeal the state 4% sales/use tax on qualifying “food” (always a moving target) or at least to reduce the rate somewhat. The state is swimming in revenue this year, due in large part to federal government stimulus payments to the states and local governments, so the substantial loss of tax revenue from exempting food may not hit so hard. But many warn – these good times won’t last forever, plus that would leave the cities and counties to decide whether to follow suit by repealing or reducing their corresponding tax, or to increase their levies to fill the hole, or perhaps leave their levies as is. That is a politically tough situation for them. Amendments to the SSUT Program. Most readers have heard that the ADOR’s Simplified Sellers’ Use Tax Program has been an unqualified success and was a God-send during the pandemic when so many of our bricks and mortar retail stores were forced to close – at least to the taxpayers who registered and therefore avoid multiple filings, multiple tax rates, and multiple audits, and of course to the State coffers. Some local governments are not so happy. They complain that a flat 8% rate is far too low in light of the fact that the combined rate in most cities is at least 10%. Many cities
Conformity with Multistate Tax Commission (MTC) Model Partnership Audit Statute. Admittedly your authors have a vested interest in this one, since we represented the ABA Tax Section in the negotiations over the model statute a few years ago, which is now being advocated to the states by a unique coalition including the MTC, COST, AICPA and TEI. At this point, the Alabama State Bar Tax Section is taking the lead in negotiations with the ADOR. The bill would conform with the BBA 2015 “comprehensive partnership audit regime” (CPAR), while not allowing the state DORs to conduct their own audits of those partnerships (including multi-member LLCs) that either couldn’t or for some reason didn’t timely elect-out of CPAR. Those partnerships will be audited by the IRS, in effect, as if they were a C corporation. The MTC Model Statute would respect the federal elections the partnership can make, such as the election to “push out” the assessment to those who were partners during the audit period. The state would also respect the designation of the Partnership Representative. In return, the audited partnership would have 6 months from the “final determination” of the IRS audit (often called the “RAR”) or ensuing litigation to notify the states of the Bruce Ely
IRS’ findings, and send them a check for the state tax and interest if due. Of course, the IRS could also notify the states directly, through their exchange of information agreements. Decoupling or Limited Decoupling from IRC Section 163(j). Unlike most of its southeastern neighbors, Alabama didn’t de-couple from the business interest expense limitations imposed by the TCJA under IRC § 163(j), and that section automatically becomes more punitive this tax year and even more so next tax year. There is some mitigating language in the Alabama version of that section for consolidated federal filers, but there appears to be a move afoot to revisit either de-coupling entirely from 163(j), or perhaps decoupling from the automatic changes that go into effect this tax year and next, or perhaps offering the taxpayer an election to avoid 163(j) in a given tax year in return for waiving the benefit of accelerated depreciation under IRC §168(k) for all assets placed in service that same year. Increasing the Personal Exemption and Standard Deduction/Filing Thresholds. A number of legislators have announced over the past few months that they plan to introduce legislation this Spring that increases personal exemptions and/or the standard deduction. Although none of those bills have been prefiled as of December 13, we should expect to see them soon. Sales and Use Tax on Cloud Computing and SaaS? As we know, services generally are not subject to sales and use tax in Alabama. But, in the wake of the Alabama Supreme Court’s ruling in Ex parte Russell County Hospital, all software – including custom software – is now taxable. There are rumors of possible legislation to clarify that SaaS and other cloud-based products are services and not taxable tangible personal property. Keep in mind, much can change over the next several weeks. And who knows what the Spring may have in store for the Legislature, especially while Congress is still in session. But, rest assured, we’ll be watching!
William Thistle
© William T. Thistle, II / Bruce P. Ely / Bradley Arant Boult Cummings LLP / October 11, 2021. January / February
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CRITICAL TECHNOLOGIES FOR 2022
As every business professional knows, adequate planning is required to ensure success. Of course, with the ever-changing landscape of technology, appropriate planning is necessary to ensure team members can use their technology efficiently, effectively, and securely. In this article, we examine five specific technologies you should plan for to ensure success in 2022. 1. Windows 11 2. Microsoft Office 2021 and Microsoft 365 3. Robotic Process Automation 4. Communication and Collaboration Platforms 5. Payment Technologies
Windows 11 Is Here: Is Your Organization Ready? Microsoft released Windows 11 on October 5 as a free upgrade for all Windows users. The
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ASCPA Connections
THOMAS G. STEPHENS, JR., CPA, CITP, CGMA
newest version of the operating system offers improved performance and security and several new features designed to improve productivity. Microsoft will “push” Windows 11 to all Windows users through the Windows Update process. However, not all computers today can run Windows 11 in a supported environment because of enhanced hardware requirements. From a planning perspective, you should ensure that your existing hardware will run Windows 11. You also need to verify that all your applications remain supported on Windows 11. Further, you will need to train all team members to take advantage of the new productivity features in Windows 11.
Should You Upgrade To Microsoft Office 2021 Or Microsoft 365? Also on October 5, Microsoft released Office 2021. The newest version of Office adds many new features in Excel, Word, PowerPoint, and other Office applications. For Office 2019 and
prior users, the new features available in Office 2021 provide excellent options for enhancing productivity. Most organizations using older versions of Office will find the upgrade to be a sound investment. If you’re planning to upgrade to Office 2021, you should begin planning your upgrade strategy soon. As with Windows 11, ensure that your computer has the necessary resources and that appropriate training is provided so that all users can take full advantage of the new features. A critical factor when considering upgrading to a newer version of Office is to evaluate whether a license provided through a Microsoft 365 subscription would be a better option. Subscription-based versions of Office offer access to new features as often as monthly. In this environment, you do not wait two to three years for a new, “major” release of an application. Therefore, you can take advantage of new features much sooner than if you use a perpetual license.
Embrace Robotic Process Automation Though not a new technology, Robotic Process Automation (RPA) is now maturing and moving into the mainstream. RPA offers businesses the advantage of automated transaction processing, and most organizations can take advantage of RPA with very little out-of-pocket investment required. Consider the following example of applying RPA in a business environment. Suppose you would like to automate the approval process of team members’ paid time off (PTO) requests. First, you could use RPA to automatically route a team member’s PTO request form to the appropriate person for approval. Then, assuming the manager approves the request, RPA could extract the relevant details from the form and enter those into the proper database, again without any human intervention. Many of today’s RPA tools are “no-code, lowcode” solutions, meaning that no programming experience or skills are necessary to implement RPA automation. Further, tools such as Zapier and Microsoft’s Power Automate provide numerous templates you can use as-is or customize to address specific needs. From a planning perspective, now is the time to begin considering how your organization could benefit from RPA and what business processes you should plan to automate in 2022. When implemented appropriately, RPA promises reduced costs, improved efficiency, and enhanced internal accounting controls.
Consolidate Communication and Collaboration Platforms No doubt, the COVID-19 pandemic forever changed how many businesses operate, including allowing – and even encouraging – remote work environments. In these situations, we must address communication and collaboration to ensure productivity does not suffer. Unfortunately, many businesses have implemented various communication and collaboration platforms over the past eighteen months without necessarily considering which systems would serve their interests best. As a result, many organizations now have multiple communication and collaboration platforms in place. This circumstance requires team members to know how to work with all the applications and adds unnecessary expense. Take action now to identify all the communication and collaboration platforms that team members are using. As part of this task, ensure that you attempt to identify all the “shadow” systems that team members implemented independently and without involving your IT staff. Then determine which platform(s) serve your needs best and cancel the subscriptions for the other tools. Not only will your company save money, but team members will be more effective because they will have fewer platforms to master.
Upgrade Your Payment Technologies How businesses and individuals make payments has changed considerably during the past
decade. While many still use checks and cash to settle debts, the trend is undeniably moving toward electronic payments – and for good reasons! Electronic payments cut collections cycles dramatically, reduce the risk of fraud, and in many cases, eliminate the need to enter payment receipts into an accounting application manually. Companies such as Corpay, Melio, and Intuit provide payment processing platforms that allow your customers to pay their bills electronically, with no cost to the customer and little or no cost to your business. If your organization does not presently accept electronic payments, now is the time to begin planning how to implement electronic payments successfully in 2022.
Summary With so many new and emerging technologies available, it can be challenging to identify and implement those that can have an immediate, positive impact on your bottom line. Yet, if your organization falls behind in this area, reduced productivity and security, higher costs, and customer dissatisfaction can all materialize – and likely will! Therefore, now is the time to begin crafting your technology plans for 2022. As you do, consider the five technologies identified in this article, focusing on how these tools can benefit your team members. Remember, failing to do so can provide competitive advantages to your competitors – something you surely don’t want to do!
Tommy is one of the shareholders of K2 Enterprises. At K2, Tommy focuses on creating and delivering content and is responsible for many Firm management and marketing functions. You may reach him at tommy@k2e.com, and you may learn more about K2 Enterprises at www.k2e.com.
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Join the ranks of fellow ASCPA members in having a presence on the Alabama Society of CPAs’ website. There is no cost, simply click on the “Enroll your firm” button and complete the information required. This search feature is available to members of the public looking for an accounting professional in their local area or one with specific practice areas. QUESTIONS? Contact Zack Camerio, zcamerio@alabama.cpa.
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Advertising Opportunities Connections Magazine Advertising Connections is the ASCPA’s flagship printed publication covering accounting news, technology trends, professional development, and member profiles. Advertising in Connections is an effective way to reach an engaged audience and grow brand awareness. Five reasons to consider a print advertising campaign: 1. It’s tangible. According to a recent survey, more than half of our members keep their copy of Connections and reference it later. 2. It strengthens your brand. You control the images, text, colors and fonts, solidifying your brand identity. 3. It reaches a targeted audience. Connections is written specifically for and by CPAs and financial professionals. Your message will reach the right hands. 4. It engages with members. Unlike websites, which get skimmed by readers, Connections contains relevant articles enticing members to thoroughly read the entire publication. 5. It shows credibility. Driving members to your website or business through print assures them that you are a legitimate business ready to help them solve a business need. Page
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REMEMBERING WILLIAM MEADOR KELL, SR. March 4, 1965 – October 18, 2021 Daphne, AL | Certificate #5553 William “Bill” Kell was a graduate of Auburn University and worked in the Fairhope office of Carr, Riggs & Ingram.
LARRY DON “DONNIE” SMITH August 12, 1948 – November 16, 2021 Tuscaloosa, AL | Certificate #2428 Donnie Smith attended Tuscaloosa County schools and was a graduate of Holt High School, where he was active in student government and played football, basketball and baseball. He earned his bachelor’s degree at the University of Alabama in 1971 and became a CPA in 1973. Smith opened his own accounting firm in 1976, L. Donnie Smith and Associates and it was a true family business. His later wife Anne was office manager for 40 years and daughter Holly joined the firm as a CPA in 2002. He served as president of the Exchange Club of Greater Tuscaloosa and was president of the ASCPA’s Tuscaloosa Chapter. Smith enjoyed pick-up basketball games, UA football and basketball and visits from his granddaughters and granddogs. Memorial gifts may be made to the Culverhouse School of Accountancy Benefactor Scholarship Award or to the YMCA of Tuscaloosa.
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