SEPTEMBER • OCTOBER 2022 ACCOUNTING PIPELINE ISSUE
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2022-23 ASCPA BOARD OF DIRECTORS S. Jon Heath, Chair James White, Jr., Chair Elect Mandy Barksdale Stacy MichaelMatthewKearyCummingsFosterHilburnKendraJamesKassoufAmandaPaulPaulPerrySarahPropperJosephWynn Dennis Sherrin, AICPA Council Rep Jamey Carroll, AICPA Council Rep James Moody, Past Chair CHIEF EXECUTIVE OFFICER Jeannine Birmingham, CPA, CAE, CGMA CONTRIBUTING WRITERS Karen Miller, CPA Bruce Ely, CPA Will Thistle, CPA EDITOR Megan G. Hughes, APR 12 2022 Scholarships Announced The ASCPA Educational Foundation has awarded 38 scholarships. Meet the recipients!TABLE OF CONTENTS F E A T U R E S Inside the ASCPA Message from ASCPA CEO, Jeannine Birmingham ......... 4 Message from ASCPA Chair, Jon Heath ...................................... 5 Member News .......................................................................................................... 28 Classifieds .................................................................................................................... 30 Honoring a Legend The University of Alabama celebrates the career of Dr. Edward Schnee 8 @ALsocietyofCPAs Advertisers in this issue CPA Charge ........... 2 BMSS ............................................................................. 7 Control Alt Protect ..................................... 20 Corvee ....................................................................... 24 Accounting Practice Sales .................. 32 Member Spotlight: Meet Brianne Smith From CPA, to PhD, to LLC - hear from ASCPA member Brianne Smith on her pathway to CPA and how she is serving the Accounting profession today. 10 Salt Corner With IRS partnership audits ramping up, will more states enact the MTC model statute? 18 50 Years Worth Celebrating Warren Averett CPAs and Advisors turns 50 this year. See how they’re celebrating! 16 Cornhold Returns In 2022 Make sure to sign up your team for the ASCPA’s Cornhole Tournament, coming back to Birmingham Nov. 5. 27 September / October 3
4 ASCPA Connections
The ASCPA Board recently held the August Board meeting which included quarterly reports and program updates, but more importantly focused on the future. It is most obvious with the amount of discussion the Board, committees, YCPA, and strategic groups have all had around student pipeline — that the organization has a lot to do to help you find the talent you need to be successful. For example, have you considered ESG services in your firm or organization? The profession believes, as does the educator community, that ESG has potential to be a interest factor for current and future accounting students. In fact, the ASCPA Education Committee has planned its fall conference, and ESG will be one of the sessions offered. If you are interested in learning more about what is happening with Alabama accounting educators, please stay tuned for information about the upcoming Finally,conference.Iwould like to thank the ASCPA Tax Committee for its incredible involvement with the Alabama Department of Revenue (ALDOR). Before the pandemic, the committee met yearly with ALDOR leaders to discuss tax filing and legislative issues. Our conversations with them over the past two years have been handled more like the firehose process. We were fortunate to be able to sit down with ALDOR leaders in mid-August with a committee-prepared agenda. It is everyone’s hope that we can strengthen our relationship with ALDOR such that we can help each other and ensure that Alabama returns are accurately completed with all resources necessary. To aid in that process, ALDOR has launched a new website with a couple of features that should help CPAs. There is a practitioner community, soon to be launched, as well as a help section complete with FAQs and DORa, a real-time chat feature. For more information about our committee’s recent work, please find the committee minutes on the website at alabama.cpa/committees.
The ASCPA recently completed its annual audit. Aldridge, Borden & Company, P.C. performed the audit for the year ending April 30, 2022, which is managed by the ASCPA Audit Committee, an operating committee of the ASCPA Board charged with oversight of the annual audit. The audited financials are consolidated: ASCPA, Educational Foundation, and Alabama CPA Political Action Committee. The Auditor’s Report indicates an Unmodified Opinion. There was an adoption of a new accounting standard as illustrated in Note 1 to the financial statements, and all proposed adjustments were agreed upon by management. You can see related graphs as well as a condensed Schedule of Activities on page six. The ASCPA is a membership dues driven organization. Annual dues make up approximately 50% of the annual revenue which allows the organization to launch and maintain programs and services such as pipeline and legislative initiatives. If you have any questions about the financial health of the ASCPA, please reach out to me or current ASCPA Board Chair Jon Heath.
Has your summer been busy? I hope that it has been a great one. The ASCPA has definitely had a busy summer, which is a good thing. Your membership organization has been swimming with programs and events since June. The Summer Education Conference was a blast, we’ve held multiple chapter events, staff has been leading high school education sessions, the board has been actively working on our strategic plan, and the annual audit has been completed. There is a lot of work that goes into planning and managing the variety of programs we offer Alabama CPAs, but it is worth it. We thrive on your energy as well as the feedback you share, both positive and constructive. Please continue to share your thoughts, ideas and questions with ASCPA staff and leaders.
welcoming Kristi Gates, APR. With nearly 20 years of experience in public relations and strategic communication in the private, non-profit and public sectors, Kristi joined the Alabama Society in July as Member Communications and Events Manager. She holds both bachelor’s and master’s degrees from Auburn University at Montgomery in marketing and public administration, respectively. She has volunteered for Hospice of Montgomery, is a former board member for Montgomery based nonprofit Child Protect, and has served in several board positions with Public Relations Council of Alabama’s Montgomery Chapter, including President. She currently serves as Secretary on the board of the Southern Public Relations Federation. She lives in Wetumpka and is an avid lover of animals, playing pool and traveling.
MESSAGE FROM JEANNINEJoinusin
The “Pipeline” seems to be the number one topic of conversation inside the profession, as it affects all member categories: public practice, government, business and industry, and academia. As you can imagine, this complex subject will take some time to address. In May, the ASCPA Board decided to invest our efforts and resources into an area that would result in the greatest positive change for the profession. In June and July, we convened a task force, engaged outside consultants, consulted with the AICPA, and began networking with our counterparts in other states to accelerate and facilitate solutions. In mid-August, we held a strategic session to formulate our objectives and purpose. Please stay tuned, as we’ll provide updates as we proceed with this initiative.
In 2019, more college students were enrolling in accounting majors than ever. In 2022, the enrollment in college, business schools, and accounting majors has reduced. What remains the same is the dedication of our colleagues in education and the outstanding programs that their universities offer. The AICPA and ASCPA are determining the best way to attract students to the profession.
The technologies and skill sets needed to deliver value is rapidly changing. Our profession is agile. The AICPA, NASBA, state regulators, and societies employed our change management super powers to modernize the CPA Exam to meet the changing landscape. The new exam will go into effect in January 2024. For more, visit Onevolutionofcpa.orgtoafewthingsthat haven’t changed. First, the great work of the ASCPA Educational Foundation and their Scholarships for Student (S4S) continues. We sincerely thank you for your generous donations that supported $123,500 in scholarships last year. For a cost lower than your Netflix and Hulu subscriptions, you can join us in ensuring a strong and diverse pipeline of talent that will support the future of the profession! For more, visit
attractcontinueThehonorofTheenrollASCPAencouragedrawingNext,alabama.cpa/educational-foundation.theSeptember30thCPEdeadlineisnear.IfyouneedCPEhours,thenIyoutotakeadvantageoftheofferings.Seealltheofferingsandatalabama.cpa/catalog/events.finalunwaveringitemisourappreciationandforyou–ourmembers.It’ssuchanandprivilegetoserveyou.futureisbrightforourprofession.WewilltofocusonthePipelineinordertoandretainthebrightestandtoserve. MESSAGE FROM THE CHAIR September / October 5
My goodness, how times can change. When I was growing up, we called August the “Dog Days of Summer” and started school closer to Labor Day. It’s mid-August; I have one daughter attending her junior year in high school, and one registering for her junior year in college. By the time you read this, football season will be in full swing!! But you’ve probably heard, the more things change… the more they stay the same. This time of year brings a renewed sense of optimism and opportunity. I would be surprised if the class of 2023 didn’t believe that they were going to be the most amazing class to have graduated from their respective school(s). Of course as Dr. Tom Ratcliffe would say, “they would simply be in error”; the class of 1989 holds that title in Newperpetuity.opportunities abound in the form of new educators, students, coaches, conference alignments, seasons, etc. Yet, they are built on familiar foundations that give us a sense of understanding, purpose, and comfort. Life’s cycles seem to provide that. For the first time since 2019, we seem to be returning to a more familiar cycle. I hope and pray that this blessing continues. This Connections issue focuses on the Accounting Pipeline – the talented, new people entering our beloved and wellestablished profession. Connecting this new talent to our organizations allows us to continue to serve our clients, customers, and stakeholders with a renewed sense of purpose and fresh perspectives, while providing exciting and rewarding career possibilities to the next generation.
Part of the solution will consist of articulating our “why”, “purpose”, or “cause.” Serving others and the public interest IS our purpose – e.g. providing assurance, assisting with tax and compliance needs, offering financial advice, and helping people grow their businesses and dreams. For those students reading this, notice that I didn’t mention “doing math”; the profession is much more about building relationships and providing solutions than anything math-related. The profession needs you to get back into junior colleges, high schools, and even junior high schools to share your stories and successes with young people of diverse backgrounds and skill sets. If college football coaches are offering scholarships to junior high players, then shouldn’t we consider similar strategies?
Membership38% Other Program Charges 6% Newsletter2%Investment Income 3% Quality16%Review CPE 30%Seminars Conferences & Meetings 3% Contributions2% Selected Financial Information Revenues 2022 Alabama Society of CPAsASCPA Selected Financial Information - Revenues 2022 Membership6% Other Program Costs 8% AdministrationNewsletter2%PublicRelations10%26%Quality18%Review CPE 27%Seminars Conferences & Meetings 3% Selected Financial Information Expenses 2022 Alabama Society of CPAsASCPA Selected Financial Information - Expenses 2022 Alabama Society of CPA's Condensed Statement of Position For the Year Ended April 30 Compiled from consolidated audited financial statements 2022 2021 AssetsCash equivalents and certificates of deposit $486,250 $1,158,367 Other current assets 134,730 71,382 Property and equipment, net 1,426,679 1,475,688 Investments in stocks and bonds, fair value 5,772,128 5,558,226 Total Assets $7,819,787 $8,263,663 LiabilitiesDeferred revenues $79,913 $124,404 Other current liabilities 238,454 140,820 Deferred compensation - Long-term portion 241,566 210,626 Debt - Long-term portion 295,536 Total Liabilities $559,933 $771,386 Net Assets $7,259,854 $7,492,277 See the Society website at www.ascpa.org for a full set of consolidated audited financial statements.Alabama Society of CPA's Condensed Schedule of Activities For the Years Ended April 30 Compiled from consolidated audited financial statements Charges for 2022 2021 Services, Dues, Net Revenues Over Net Revenues Over Expenditures and Contributions (Under) Expenditures (Under) Expenditures Programs : Professional Development Seminars $708,818 $814,358 $105,540 $188,042 Membership 151,901 1,053,643 901,742 782,612 Quality Review 477,371 432,865 (44,506) 24,898 Public Relations 256,891 (256,891) (194,581) Scholarships and awards 134,634 62,731 (71,903) (71,449) Newsletter 64,256 47,638 (16,618) (35,767) Conferences & committees 112,610 83,391 (29,219) (32,485) Chapter activities 4,033 (4,033) (8,050) Political Contributions 15,250 (15,250) Total Program Services $1,925,764 $2,494,626 $568,862 $653,220 Management and general expenses $(675,728) $(502,867) Net realized/unrealized gain on investments (371,772) 958,891 Other revenues 246,215 123,825 Net Revenues Over Expenditures $(232,423) $1,233,069 ASCPA FINANCIAL UPDATE 6 ASCPA Connections
Dr. Rich Houston, director of the Culverhouse School of Accountancy, noted that Dr. Schnee “taught others how to teach and find the answers themselves, and communicate them effectively to others.”
Dr. Schnee’s commitmentconsistenttoexcellence and teaching others is also evident in the numerous articles that he has published in leading practitioner journals such as the Journal of Accountancy and the Tax Adviser.
FACULTY SPOTLIGHT
Dr. Edward Schnee with University of Alabama President Stuart Bell.
Dr. Schnee recently retired from the Culverhouse School of Accountancy after providing forty years of dedicated service to students in the undergraduate and graduate level tax courses and to tax professionals throughout the Dr.state.Schnee joined the faculty at the University in 1982 and served as the director of the nationally recognized Master of Tax Accounting (MTA) program for the majority of his tenure at the University. Dr. Schnee’s significant contributions to the University were highlighted in his selection as the recipient of the 2019 National Alumni Association Outstanding Commitment to Teaching Award.
Recent MTA graduates praised Dr. Schnee’s commitment to teaching his students the critical thinking skills which are necessary for a successful career in the tax profession. Danielle DuBose, a 2016 graduate of the MTA program, commented that, “Dr. Schnee’s unique teaching style taught me how to be a critical thinker and pushed me in a way that prepared me for my future endeavors. Dr. Schnee uses a socratic teaching method that is typically reserved for law school classes. This method prompted me to think critically about what I was learning and also learn the tax law in a way that stuck with me for the long run. His lectures were laced with references to events that shaped the law – cases, business practices, regulations, and policies from Congress.”
The University of Alabama is known as the place “where legends are made,” and in the Alabama tax community, there is no greater legend than Dr. Edward Schnee.
The University of Alabama Celebrates the Career of Dr. Edward Schnee
Under his direction, the University’s MTA program became nationally renowned, and its graduates have gone on to have extremely successful careers in all aspects of taxation. In addition to his role as Director of the MTA program, Dr.
HONORING LEGENDA
Dr. Houston further noted that Dr. Schnee is “unparalleled in his ability to interpret and provide guidance on the most complex tax issues, and does so despite the fact that laws and regulations change constantly.”
By Karen Miller
8 ASCPA Connections
Schnee also served as chairman of the Culverhouse College of Business Faculty Executive Board, which oversees all curriculumrelated issues in the College. Dr. Schnee’s commitment to teaching was also greatly evident in this role, as he unfailingly upheld academic standards and proper curriculum design.
Daniellemyunique“Dr.Schnee’steachingstyletaughtmehowtobeacriticalthinkerandpushedmeinawaythatpreparedmeforfuture,”saidDuBose,MTA‘16 September / October 9
Dr. Schnee at his retirement celebration with 2022 MTA students.
Dr. Schnee’s impact is also apparent in the current full-time teaching roles that fourteen of his former students now hold at various universities. This legacy, as well as his many achievements and commitment to educating others, will continue to inspire future generations of tax professionals throughout the country.
On a national level, he was a co-founder of the American Taxation Association, the first editor of the Journal of Legal Tax Research, and he has won several awards for teaching and his articles on tax topics. Most notably, in 2011 he received the Outstanding Tax Educator Award, which recognizes outstanding contributions by a faculty member teaching taxation. He also chaired national committees that directly impacted tax policy, and he provided outstanding leadership and direction to the Federal Tax Clinic, which supports continuing education for tax practitioners in the state and also provides scholarships for students. Roger Boatner, a 1990 graduate of the MTA program, noted that Dr. Schnee is “always working to advance the professional education for his students, for his former students, and for all the tax accountants in the state and surrounding area.”
The goal of this committee is to help provide resources (Figure 1.11) to practitioners interested in expanding their practice, but also to educate students that this pathway is an option.
GIVING BACK TO THE PROFESSION Smith currently serves on the AICPA Personal Financial Planning Executive Committee, and is in year one of her three-year term.
After taking Principles of Accounting her sophomore year in college, Brianne Smith fell in love with accounting. More specifically, she discovered her passion for individual finances and specialty tax. “I didn’t even know it was a thing,” she joked. Which is exactly why, according to Smith, getting students introduced to the profession early is Smith’skey. career as a CPA began in public accounting, doing specialized lowincome housing tax credit audits. After a few years, an opportunity in the state trust department presented itself - and that’s when the wheels really began to turn. Fourteen years later the assistant provost from a local college asked her if she knew anyone that was interested in “I’veteaching.always, in the back of my mind, thought, ‘I would love to teach. I’d love to go get my PhD.’ So, that actually started the conversation,” said Smith. And with that, she stumbled upon her second passion - teaching.
PATHWAY TO CPA
Meet Brianne Smith
“I’ve been interested in serving on this committee for quite some time, because it really does make all the things I do makes sense,” said Smith. “I teach in an accounting program, but my PhD is in financial planning.”
“I started my practice in 2016, just to do some big projects,” she said. “Financial planning projects, and then also business valuations.”
“At the time I had three little kids and it was the best ‘mommy schedule’ you could possibly think of,” said Smith. “But when I got into it, I was really surprised that I didn’t feel like I was busy enough. I was teaching two hours a day, and I had all summer off.” Cue third passionBrianne C. Smith, CPA, LLC.
MEMBER SPOTLIGHT
you could say I’m not chasing a billable hour for a particular pay, and the hours in my day are not capping the possibilities,” said Smith.
As much as the profession, and the world around the profession, is changing, Smith says the students give her energy and keep her and her research “Practicingcurrent.feeds the teaching,” said Smith. “It gives me the stories, the case “Istudies.”feellike I can’t do one without the Toother.”read more about Brianne Smith, visit alabama.cpa/CPA-Brianne-Smith.
A list of reference materials relevant to the TCP section of the Exam is included under References at the conclusion of this introduction.
Content allocation
THE PIPELINE “One myth is that if you pick the accounting track, you’ll be expected to sit behind a desk,” said Smith. When it comes to discussing the traditional idea of pipeline, Smith thinks long term. “This is why I think the CPA exam is changing, too, because we’re moving away from being either audit or tax. Instead, we’re really moving more towards solutions.”
The following table summarizes the content areas and the allocation of content tested in the TCP section of the Exam:
The assessment of federal tax compliance will focus on an nlCPA's role in both the preparation and review of tax returns. The assessment of federal tax planning will focus on an nlCPA's role in determining the tax implications of proposed transactions, available tax alternatives or business structures. The assessment of personal financial planning will focus on planning strategies and opportunities that an nlCPA typically identifies in connection with the preparation and review of individual tax returns.
Area Ill Entity Tax Planning 10-20%
“I always ask, ‘Who likes money?’”said Smith. “And when you say, ‘You get to be a trusted advisor. I shut these doors and people spill their guts. They tell me everything. And you have to keep it to yourself and help people through their problems. A lot of these are related to their financial decisions, but not all of them.’ They really like that trusted advisor piece.”
As Smith points out, people have left the workforce recently because they have figured out how to make their own money being entrepreneurs. “I think it’s really motivating to students to say, ‘Hey, accounting is a really great way to learn how to be an entrepreneur, and then advise other entrepreneurs,’” said Smith. “They also really like that it’s going to show them how to grow their own wealth and build their own net worth.”
As a college professor, Smith is always surprised at the number of students who stumble upon accounting through an elective, or a required course late in their curriculum, and then think to themselves, “Ah! I like this! I wish I had known.”
Area II Entity Tax Compliance 30-40%
Personal financial planning
The Tax Compliance and Planning (TCP) section of the Uniform CPA Examination (the Exam) tests the knowledge and skills that new CPAs must demonstrate with respect to: U.S. federal tax compliance for individuals and entities with a focus on nonroutine and higher complexity transactions U.S. federal tax planning for individuals and entities
The assessments described above will also incorporate: Data and technology concepts including the verification of the completeness and accuracy of source data used to prepare returns and supporting schedules.
Figure 1.11 September / October 11
Areal Tax Compliance and Planning for Individuals and Personal 30-40% Financial Planning
Tax Compliance and Planning
Area IV Property Transactions (disposition of assets) 10-20%
The tasks in the blueprint are representative. They are not intended to be (nor should they be viewed as) an all-inclusive list of tasks that may be tested in the TCP section of the Exam. Lists or examples included within the text of a representative task beginning with the word "including· are not intended to be exhaustive. Within some representative tasks are parenthetical lists. If a parenthetical list begins with •e.g.·, this is not intended to be an exhaustive list but rather examples of the types of content that could be assessed. Parenthetical lists that do not include "e.g.• are intended to be an exhaustive list of the content to be assessed with respect to that representative task. Additionally, the number of tasks associated with a particular content group or topic is not indicative of the extent such content group, topic or related skill level will be assessed on the Exam.
“We also believe it is a draw to people being interested in being CPAs, because a lot of people would like to work with individuals in a different way - other than preparing tax Forreturns.”Smith, the existence of an actual section in the AICPA that’s dedicated to CPA financial planners means they are preparing for CPA Evolution. The Tax Compliance and Planning (TCP) section of the Uniform CPA Examination tests the knowledge and skills that new CPAs must demonstrate. “I’m part of this group of amazing leaders who’ve been doing this for a long time,” said Smith. “Pushing through and trying to grow awareness of this pathway, and also making wonderful resources for people like me who want to expand their tax practice into adding financial planning into an existing tax practice.”
Applied research with a focus on reviewing and using excerpts of source materials (e.g., Internal Revenue Code, Treasury Regulations) to complete a range of tasks including identifying issues, analyzing facts and determining appropriate responses.
The TCP section blueprint is organized by content AREA, content GROUP and content TOPIC. Each topic includes one or more representative TASKS that an nlCPA may be expected to complete when performing tax preparation services, tax planning services or personal financial planning services.
Content area Allocation
“If we have a client who’s really struggling with something, and they’re calling us constantly about one particular problem,” she said, “instead of spending more time helping them fix the problem, we try to find a technology solution to fix the problem and integrate it into what they already “Ihave.”guess
Content organization and tasks
Pearlie Aaron AthensUniversityState Raegan Ballinger AthensUniversityState Brandon Bonvillian Spring Hill College Noah Bryant UniversityAlabamaof Landry Bussey JacksonvilleUniversityState Matthew Carroll Auburn University Xun Chen JacksonvilleUniversityState Chelsea Cole University Montevalloof Catherine Couch Auburn University Natasha Drain AthensUniversityState Molly Drouge Samford University Gabriella Felkins University of AlabamaWest Marissa Fletcher University Montevalloof Emily Gilbert Faulkner University Haley Heard AlabamaUniversityState Ansley Hicks SouthernBirmingham-College Sarah Hicks SouthernBirmingham-College Carley Hood Auburn University Victoria Johnston AthensUniversityState Jonathan Langston University Montevalloof 2022 RECIPIENTS 12 ASCPA Connections
Congratulations also goes to the following scholarship recipients: Lauren Dumar, Samford University; Teressa Nicosia, Spring Hill College; Jameson Chandler, University of Alabama at Birmingham.
Bentley Rice Auburn University Dylan Stallworth AlabamaUniversityState Jayda Stinnett University of Mobile Anna Tanner Samford University
Brock McNeely University Montevalloof William Nguyen University of AlabamaSouth Lucas Pennington JacksonvilleUniversityState Christy Pickett University of Alabama Birminghamat Madeline Pugh University of AlabamaNorth
Alexis Rennhack SouthernBirmingham-College
Elijah Taylor AthensUniversityState Kaeri Ward University Montevalloof Abigail Williams Auburn University at Montgomery Stewart Wilson Troy University Madeline Zimmerman Spring Hill College
Since 1967, the ASCPA’s Educational Foundation has been providing support to students majoring in accounting at Alabama colleges and universities. Over time the scholarship amounts have grown from $500 to $2,500. In 2021 Foundation scholarships were expanded to included CPA exam scholarships. The $500 scholarships provide financial assistance to students taking the CPA exam. These were a natural extension of the commitment to encourage students to become a CPA. The process of selecting scholarship recipients each year is the Foundation’s most visible activity. Each Spring our college and university contacts are asked to share our online application with their students so they can then apply. The application covers all four of our scholarships: (1) $2,500 general scholarships, one per accredited accounting program; (2) $2,500 diversity scholarships, 5 are awarded to students who meet the diversity requirement; (3) $2,500 financial need scholarships, 2 are awarded based on demonstration of financial hardship and (4) $500 CPA exam scholarships, 5 are awarded. Please know that the scholarship selection process is very difficult! However, the application requires the student write an essay and share their journey. And, quite frankly, it is usually what the students share in these essays that help us most with our selections. This past Spring we awarded over $100,000 in scholarships to deserving students across Alabama. Our Educational Foundation and its mission to promote CPA careers through educational scholarships is just as vital now as it was in 1967. Thank you for your continuing support of that mission and in the nurturing of future Alabama CPAs.
ASCPA EDUCATOR CONFERENCE 10.28.22 I 9AM-3PM Free for educators 4-hour CPE with lunch provided Attend in-person at the ASCPA office or via Zoom. Plan to discuss the Future of the Accounting Profession, Update from the State Board of Public Accountancy, Partnerships with ALSDE, High School Pipeline initiatives, CPA Evolution (PFP), and much more. For more information or to register visit: www.alabama.cpa/edu22.
You will be challenged to understand the importance in developing holistically as a leader. It’s our goal to assist you in becoming better at the art of working with others, all while helping you plan your next steps as a leader. Register today at alabama.cpa/els. NOVEMBER 4, 2022
The History Since 1972 (and in some parts of the firm’s footprint, even earlier), the firm has provided services to help clients accomplish what’s most important to them. In the 1950s and 1960s, many of the firm’s predecessor CPA practices began serving clients, and in 1972, several Birmingham entrepreneurs opened a small firm named Pearce & Summerford, PC, which would eventually become Warren Averett. During the 1980s, Warren Averett saw a series of reorganizations before becoming Warren, Averett, Kimbrough & Marino, PC in 1986. By the end of the 1990s, the firm was the country’s 71st largest accounting firm. In 2012, three regional accounting firms across the Southeast joined forces to create today’s Warren Averett CPAs and Advisors. The firm continued to increase in size and gained offices in Tampa, Atlanta, Mobile and Panama City.
Not only does the team care about their clients, they also care about each other. In 2017, the Warren Averett Foundation, an internal employee benevolence foundation, was established so that team members can give back to each other - to help other firm employees in need. Whether it’s an employee dealing with an illness in the family, an employee personally dealing with cancer, or a natural weather disaster, the foundation has proven helpful.
The Community To honor 50 years of helping local communities, Warren Averett introduced a “50 Acts of Service” challenge, where team members will complete 50 community service projects throughout the Southeast this year.
“We are so proud of all that the firm has accomplished over the past 50 years,” said Mary Elliott, the firm’s Chief Executive Officer. “As we look forward to the firm’s future and continue to provide the best service to our clients, it’s been nice to look back and reflect on how far the firm has come through the work of our team members who have helped propel Warren Averett to new heights.”
The Team One thing that transcends city and state lines, evident in no matter which office you visit, is the spirit of the Warren Averett Team. You might even say their spirit is awardwinning. Throughout Warren Averett’s long history, the firm has been named as a Best Place to Work in multiple locations, and in many places for multiple years. And if you’re looking for Warren Averett on Instagram, it shouldn’t surprise you how you can find them - @WATeam.
Number six on Warren Averett’s list of “50 Acts of Service” took place in Montgomery. The Warren Averett Team held a dog and cat food drive, benefiting the Montgomery Humane Society in March.
Warren Averett CPAs and Advisors, one of the largest accounting and advisory firms in the Southeast, is celebrating its 50th anniversary during 2022. Team members throughout Warren Averett’s 15 offices are reflecting on the accomplishments of the past and looking forward to growth in the future.
16 ASCPA Connections
“We have lots of animal lovers at Warren Averett,” said Sandy Coaker,
“I would say the team concept is a big part of our clientservice mentality,” said Tommy Sisson, who currently serves as the Birmingham Office Managing Member. “When I bring in a client, it’s not my client; it’s a firm client. We don’t operate in silos. So, when Jim brings a client in, when Mary brings a client, when I bring a client in - it’s a firm client.”
“Our tagline is helping our clients thrive - that’s what attracted me to the firm initially more than 40 years ago,” said Sisson. “Helping (our clients) be successful in whatever it is that’s important to them.”
September / October 17
The Brand Promise Whether they are serving a public company, a nonprofit, a private company or a governmental entity, Warren Averett has proven they have the expertise to help anyone thrive.
“When you think in terms of what keeps a client up at night, or what they are most worried about,” said Elliott. “I want our clients to come to us and ask that question, and if we don’t have the answer, we can help them find it.”
has been accounting and help expandedThroughmostourandways,haveseeingcultivatingandofmadeourwonderful TH ANNIVERSARY1972 2022 2011 20132012 2015 20172016 TECHNOLOGY GROUP formerly formerly White, Fleming Jinks & Moody, P.A. 2000 20042001 Banking Practice of Schauer Taylor, PC STAFFING & RECRUITING 2008Burleson/Kirkland & Co. Member of Rödl & Partner International Rödl BENEFIT CONSULTANTS 19991998 1995 1993 1988 Powell & Company Burton, Canaday & Moore Joseph Decosimo & Co. Birmingham Office Tuck & Raymond Alabama | Florida | Georgia | www.warrenaverett.com 1986 James A. Stroud & Associates, P.C. CELEBRATING 50 YEARS 2011 20132012 2015 20172016 TECHNOLOGY GROUP formerly formerly White, Fleming Jinks & Moody, P.A. 2000 20042001 Banking Practice of Schauer Taylor, PC STAFFING & RECRUITING 2008Goodgame Burleson/Kirkland & Co. Member of Rödl & Partner International Rödl BENEFIT CONSULTANTS FOUNDED1972 19991998 1995 1993 1988 Powell & Company Burton, Canaday & Moore Joseph Decosimo & Co. Birmingham Office Lapidus, Tuck & Raymond 1986 James A. Stroud & Associates, P.C.
Montgomery Office Managing Member. “It was something that most everybody could engage in and be supportive Teamof.” members turned the event into fun for the whole staff, adding an in-person puppy visit from the Montgomery Humane Society. “It was a great event for us because we all got to socialize with the representatives from the Humane Society,” said Coaker. “And we collected over 500 pounds of dog food to provide to this worthy cause.”
As the year comes to a close you can keep up with all 50 acts by visiting warrenaverett.com/50-acts-of-service/.
“I think what makes us unique is what’s in our brand promise — help our clients thrive and accomplish what’s important to them,” said Ray White, Huntsville Office Managing Member. “Our goal is to be your Trusted Advisor.”
“I hope the public and our clients see us as a strong, innovative, aggressive firm who is always looking ahead, and looking into what our clients and our business community are facing,” said Coaker. “Because we are very intentional in that our name includes Warren Averett CPAs and Advisors. And we really embrace that advisory role.”
The laws of most states don’t allow for the direct assessment of partnerships because these entities are not considered taxpayers under state law; they are pass-throughs with the tax liability resting at the owner level. With the CPAR, states now have a choice: (1) enact legislation that allows them to separately audit and assess certain partnerships; (2) substantially conform with the new federal CPAR and simply wait for the IRS to provide revenue agent report (RAR) information about recent audits of partnerships with connections to that state; or (3) do nothing and let what could be substantial amounts of state tax revenue go uncollected.
Critically, the Model Statute addresses reporting federal audit changes for all taxpayers – not just partnerships – although several states have enacted a version that’s limited only to partnerships. The model is designed to provide states with a uniform, simplified method to apply the results of IRS partnership audits, which may increase substantially with the hiring of more revenue agents as a result of the Inflation Reduction Act of 2022. On the other hand, the Model Statute gives taxpayers and their partnership representatives certain state-level
Landmark changes in the federal income tax treatment of partnerships (including multi-member LLCs) became effective in 2018 for many more partnerships than first anticipated. As a result of the Bipartisan Budget Act of 2015, the IRS can now audit certain “large” partnerships, instead of each of their partners, and assess income tax, interest and penalties against the partnership itself. IRS partnership audits have begun and a group of “super auditors” are completing their training. We also learned from IRS officials that a surprising number of not-so-large partnerships didn’t exercise their annual right to opt-out of the comprehensive partnership audit regime (CPAR), and are therefore subject to the new audit rules – whether they like it or not.
With IRS Partnership Audits Ramping Up, Will More States Enact the MTC Model Statute?
By Bruce P. Ely and William T. Thistle, II
SALT CORNER 18 ASCPA Connections
Because of concerns by professional and business trade associations that their partnership clients/ members might be subjected to multiple state audits, as well as a comprehensive IRS audit, a number of these groups agreed to negotiate a model statute that could be enacted by every state that levies a net income tax. Representatives of the Multistate Tax Commission (MTC), in conjunction with the AICPA, the Council on State Taxation (COST), the ABA Tax Section*, the Tax Executives Institute, the Institute for Professionals in Taxation, and other groups, met for approximately 2 years to develop this model. The MTC Model Statute was approved by the MTC in January 2019 and soon endorsed by each of the other organizations. Thankfully, the gist of the model statute endorses option (2), allowing only the IRS to conduct partnership audits and then passing along the audit information to the states to proceed with their own assessments. So far 21 states have enacted all or large portions of the Model Statute (although at least 3 need revisions to more closely follow the MTC Model Statute).
elections that may vary from their federal election.
The Alabama Department of Revenue (ALDOR) has been working with the Alabama State Bar Tax Section to draft its own version of the Model Statute, but the project was shelved over a year ago. However, ALDOR indicated recently that it intends to restart the project, in cooperation with the State Bar Tax Section, and hopefully the Alabama Society of CPAs, and fine-tune its draft for possible introduction in the Spring 2023 legislative session.
negotiations*TheauthorschairedanABATaxSectiontaskforceintheearlythateventuallyleduptothefinalversionoftheMTCModelStatute,butnotethatanyopinionsexpressedinthiscolumnaretheirownandnotnecessarilythoseoftheirlawfirm,clients,orprofessionalassociationswithwhichtheyareaffiliated.©August15,2022.Allrightsreserved. 1 States That Need to Enact Legislation to Adopt the MTC Model, Or Need Improvements to More Closely Follow the MTC Model (As
August 1, 2022) AK HI ME RI VTNH MA NY CT PA DCNJDEWV SCNC GA FL IL OHINMIWI KY TNALMSARLATX OK MOKS MNIANDSDNE NMAZ CO UT MTWY WA OR ID NV CA VA MD States that have enacted legislation, but need improvement to more closely follow MTC Model States that have enacted legislation States that potentially need legislation Disclaimer: This information should be used for general guidance and not relied upon for compliance. Source: Council On State Taxation Bruce P. Ely William T. Thistle, II BradleyArantBoultCummingsSeptember/October 19
For the AICPA’s perspective on the Model Statute, visit alabama.cpa/CONNECTIONS/ModelStatute.
With the expected increase in IRS partnership audits, especially with President Biden’s approval of the Inflation Reduction Act of 2022, and a near majority of the states with individual income taxes now having enacted all or substantial portions of the Model Statute, we expect several more states – including Alabama – to consider the idea in their next legislative session. Now is also the time for all partnerships (including multi-member LLCs) to have their tax advisers review their organizational documents and make the necessary changes to conform with the CPAR and corollary state laws.
A good example would be electing for federal tax purposes to “push out” the liability for the assessment to those who were partners during the audit period, while electing on a state-by-state basis whether to have the partnership itself pay the apportioned amount of the assessment.
For a comprehensive history of the Model Statute together with several helpful articles written about it, visit alabama.cpa/CONNECTIONS/pip. of
consults a wide spectrum of industries across the globe and provides the technology, framework, and education to help protect business from Cyber Crime We have helped corporations across the world recover from Cyber Attacks, and plenty of them are based in Alabama Because Alabama has seen growth in key industries, our businesses are primary targets Financial, medical, and public accountants have suffered the brunt of attacks
LEARN MORE AT CONTROLALTPROTECT.COM OR
ALABAMA CPAS UNDER ATTACK FROM CYBER CRIME
HANS LEMONS CTO, CONTROLALTPROTECT
Many businesses see information security as a risk unique to their Information Technology group or “IT guy,” and in response, don't give it the proper attention or budget. Many “check the box” for compliance or insurance reasons but lack the appropriate understanding of the field and often rely on IT resources to handle it. Because of this, businesses often suffer significant losses. Businesses must shift their mindset if they are to be equal or better than these threats. We encourage CEOs to become an active part in securing their enterprise, and make sure that third party vendors do their part. Sophisticated Cyber criminals navigate around traditional Cyber defenses in days, if not minutes. Unless you hire an experienced Cyber Security professional, you are vulnerable. The onus of action remains with leadership, and a proactive approach to information security is very often the litmus of whether a company survives a breach. CALL 1-877-CYBER911
The critical questions emerge, what are the root causes of the failures in information security, and what moves can CPAs make to lower the probability of a disastrous breach?
Nationally, billions of dollars are lost to insider threats, ransomware, business email compromise, and espionage. Customer information is regularly exfiltrated from inside corporate electronic perimeters and posted for sale to identity thieves on the dark web.
The Southeast United States is heavily targeted, as the vast majority of regional CPAs simply do not invest in data security Alabama was one of the last states to create a Breach Notification Act, which requires businesses to report known data security breaches to law enforcement
Cyber Crime has been rising for decades and accelerated during the pandemic. The accounting industry is facing an unprecedented challenge to the security of operations and protecting consumer data.
ControlAltProtect
Register at alabama.cpa/FAAC Audit & Attest Standards Update Presented by Mike Glynn, CPA, CGMA American Institute of Certified Public Accountants Risk Based IT Audits Presented by Paul Perry, THFMA, CISM, CITP, CPA, CDPSE Warren Averett Preparation, Comp and Review Standards Presented by Michael Brand, CPA, CGMA BMSS Advisors & CPAs Fraud in the Workplace Presented by Kelly J. Todd, CPA, ABV, CFF, CFE Forensic Strategic Solutions andLindsay Gill, CFE Forensic Strategic Solutions IN-PERSON EVENT FAAC Speaker Line Up
Member Appreciation Series: AON Virtual 9/15/2022 (12:00PM-12:50PM) TBD | 1 CommonOtherYellow Book & Uniform Guidance Deficiencies | Virtual 9/20/2022 (12:30PM-4:00 PM) Galasso, Melisa | 4 AA What’s Going on at the GASB Virtual 9/20/2022 (8:30 AM-12:00PM) Galasso, Melisa | 4 AA ASCPA’s 2022 Sales and Use Tax Workshop | Virtual 9/22/2022 (8:30 AM-12:00PM) Thistle II, William T. | 4 TX Maximizing Your Social Security Benefits | Virtual 9/22/2022 (8:30 AM-12:00PM) Frost, Michael A. | 4 TX Required Minimum Distributions: Compliance and Planning | Virtual 9/22/2022 (12:30PM-4:00 PM) Frost, Michael A. | 4 TX Advanced Trust Issues: A Roadmap for Success in an Increasingly Complex Area Virtual 9/23/2022 (12:30PM-4:00 PM) Frost, Michael A. | 4 TX Controller/CFO Update: Hot Topics Facing Today’s Financial Professional Virtual 9/23/2022 (8:30 AM-12:00PM) Hamilton, Marc | 4 Other Planning and Strategy Formulation for Your Organization’s Financial Success Virtual 9/23/2022 (12:30PM-4:00 PM) Hamilton, Marc | 4 Other S Corporation Taxation: Advanced Issues Virtual 9/23/2022 (8:30 AM-12:00PM) Frost, Michael A. | 4 TX 2022 Preparation, Compilation & Review (SSARS) Update for the Local Firm | Virtual 9/28/2022 (12:30PM-4:00 PM) Martin, Jim D. | 4 AA Accounting & Auditing for Tax People Who Absolutely Detest Accounting & Auditing | Virtual 9/28/2022 (8:30 AM-12:00PM) Martin, Jim D. | 4 AA Peer Review Team Captain Part 1 Virtual 9/28/2022 (8:30 AM-12:00PM) Brand, Michael L. | 4 AA 2022 Real World Ethics Update for All Practitioners | Virtual 9/29/2022 (10:30AM-12:10PM) Martin, Jim D. | 2 AA Peer Review Team Captain Part 2 Virtual 9/29/2022 (8:30 AM-12:00PM) Brand, Michael L. | 4 AA The New Auditing Standards Virtual 9/29/2022 (8:30 AM-10:10AM) Martin, Jim D. | 2 AA ASCPA’s Financial Accounting & Auditing Conference (FAAC) Hybrid | Montgomery 9/30/2022 (8:00AM-3:30PM) Various | 8 AA Member Appreciation Series: October Virtual 10/14/2022 (12:00PM-12:50PM) TBD | 1 Other Member Appreciation Series: Paychex Virtual 11/17/2022 (12:00PM-12:50PM) TBD | 1 ASCPA’sOtherGovernmental Accounting and Auditing Forum ATTENDING BOTH DAYS (GAAF) Hybrid | Montgomery 12/8/2022 (1:00PM-4:00PM) & 12/9/2022 (8:30AM-12:00PM) Various | 8 AA ASCPA’s Governmental Accounting and Auditing Forum DAY ONE ONLY (GAAF1) Hybrid | Montgomery 12/8/2022 (1:00PM-4:00PM) Various | 4 AA ASCPA’s Governmental Accounting and Auditing Forum DAY TWO ONLY (GAAF2) Hybrid | Montgomery 12/9/2022 (8:30AM-12:00PM) Various | 4 AA Member Appreciation Series: CTA Virtual 12/6/2022 (12:00PM-12:50PM) TBD | 1 MemberOtherAppreciation Series: AON Virtual 1/19/2023 (12:00PM-12:50PM) TBD | 1 MemberOtherAppreciation Series: February Virtual 2/15/2023 (12:00PM-12:50PM) TBD | 1 MemberOtherAppreciation Series: March Virtual 3/15/2023 (12:00PM-12:50PM) TBD | 1 MemberOtherAppreciation Series: April Virtual 4/17/2023 (12:00PM-12:50PM) TBD | 1 Other GENERAL CPE SCHEDULE GO TO ALABAMA.CPA FOR NEW CLASSES AND MOST CURRENT INFORMATION. 22 ASCPA Connections
Register at alabama.cpa/GAAF Join us for this in-person event
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Marcos Neftali Franco, Montgomery Tyler Lanier Garner, Hoover
Cathy Joann Clarke, Minneapolis, MN
Jackson Thomas Pope, Vestavia Hills
Jeffrey Mark Travis, Jr, Birmingham
Joseph Luke Curtis, Montgomery Charna Cymone, Montgomery
following
! September / October 25
Austin David Eck, Birmingham
Katherine Ann Miller, Atlanta, GA
NEW CPAS
exam
Bridget Dione Luckey, Mobile
Jillian Michelle Facella, Hoover
Rebecca Lynn Crain, Hoover
Congratulations to CPA
Mary Frances Brown, Demopolis Benson Jeffrey Bryant, Guntersville
Jillian Rae Gasser, Auburn
Kelsey Lauren Ching, Coppell, TX
Colin Daniel Harper, Irondale
Cooper Kenneth Reynolds, Birmingham
Robert James Allan, Montgomery
Kolby Lee Benford, Florence Davis Henry Bowyer, Smyrna, GA
Jacob Flynt Schuhmann, Birmingham
Alabama’s newest
Sydney Nicole Engels, Dallas, TX
Shenandoah Rhodes Terry, Ivoryton, CT
Collins Ann Mills, Birmingham
Paxton Grace Desimone, Trussville
Brett Osman Murray, Montgomery
Stephen Andrew Jernigan, Brentwood, TN
Sarah Elizabeth McDaniel, Helena
Licensees
The individuals have successfully passed all four parts of the CPA - Congratulations
Hannah Nichole Williams, Auburn Molly Grace Womack, Trussville
These individuals completed all four parts within the May 1, 2022-June 30, 2022 time frame.
Montgomery-Lee Todd, Nashville, TN
Michael Alton Thomas, Knoxville, TN
Jennifer Hope Cone, Steele
Leslie Beech Chambers, Auburn
ASCPA CHAPTER ConnectEVENTSwith other professionals Stay plugged in to your community by attending a local chapter event. Connect with the CPAs who live and work near you. Register at alabama.cpa/catalog/events. 2022SEP21 Mobile Chapter Update with Lisa McKinney The Admiral Hotel • 8 - 5 • 8.0 CPE (Tax) 202223SEP Birmingham Chapter A&A Update with Jim Martin The Harbert Center • 8 - 5 • 8.0 CPE (A&A) 2022OCT20 Montgomery Chapter Rooftop Social Ravello Ristorante • 4 - 6 2022NOV4 Birmingham Chapter SALT Update with Bruce Ely The Harbert Center • 8 - 12 • 4.0 CPE (Tax) 2022NOV4 Tuscaloosa Chapter Luncheon with Mayor Maddox The District Room • 11:30 - 1 2023JAN12 Birmingham Chapter Tax Update with Lisa McKinney The Harbert Center • 8 - 5 • 8.0 CPE (Tax) 2023JAN12 Tuscaloosa Chapter Bankers & Attorney Luncheon Indian Hills Country Club • 11:30 - 1 For more information contact Zack Camerio at zcamerio@alabama.cpa. 2023JAN19 Montgomery Chapter Bankers & Attorney Luncheon The Montgomery Country Club • 11:30 - 1 26 ASCPA Connections
ASCPA CornholeCharityTournamenT Saturday, November 5, 2022 Avondale Brewing Company 201 41st Street South Birmingham, Alabama 35222 Presenting Sponsor: This social tournament will be using a Double Elimination Format, so all teams are guaranteed at least 2 matches. Details + $100/team + BYOPartner + All teams will use the supplied tournament boards & bags + Cash & prizes awarded to top teams Need to register? Register your team online! www.alabamacornhole.com/ascpa or contact Zack Camerio zcamerio@alabama.cpa. Registration from 11:30 AM-12:30 PM. Tournament will begin promptly at 1:00 PM. Other Sponsors:
Eric was also recently chosen to be part of the Opelika Chamber of Commerce 20 Under 40 program, which comprises 20 outstanding people under the age of 40 who live in Opelika, love Opelika, and have a vested interest in shaping the direction of this city’s future. The program is designed to help create future leaders.
The following have been promoted to Manager: Dalton Bradshaw, CPA (remote) Drew Nichols, CPA (Birmingham) Emily Riles, CPA (Birmingham) Jennifer Mayfield, CPA (Birmingham) Ryan Carter, CPA (Birmingham) Tyler Roberts, CPA (Birmingham) Cassandra Sanders, CPA (Huntsville) Kelly Love, CPA (Huntsville)
Machen McChesney announces the promotion of Emma Farris, CPA to Supervisor, Lance Meacham, CPA to Senior Accountant, and Eric Perry, CPA to Senior Accountant.
King
Watkins 28 ASCPA Connections
The following have been promoted to Senior Accountant: Bentley King, CPA (Birmingham) Caleb Yarborough, CPA (Huntsville) Caroline Gilmer, CPA (Birmingham) Cooper Melvin, CPA (Birmingham Eliza Capps, CPA (Huntsville) Olivia Vincent, CPA (Birmingham)
MEMBER NEWS Houston Bechert Phillips Arnett
Lance has been employed with Machen McChesney since 2020. Lance’s principal areas of practice include individual and business tax and auditing. He received his Bachelor of Science Degree in Accountancy from Auburn University and holds a minor in Business-Engineering Technology.
Carter Bunn
Yarborough Gilmer Melvin Capps
Vincent Chappelle
The following have been promoted to Supervisor: Hannah Winborn, CPA (Birmingham) Mason Murphy, CPA (Birmingham) Nathan Bunn, CPA (Gadsden)
Roberts Sanders Love Winborn Murphy
Wilkins Miller LLC, an accounting and advisory firm with offices in Mobile and Fairhope, is pleased to announce Logan Etheridge has successfully completed and passed the Uniform Certified Public Accountant (CPA) examination. Etheridge joined Wilkins Miller as a student administrative assistant in 2019. He became an intern and joined the firm full time in 2021 after graduating magna cum laude and earning a Bachelor of Science in Business Administration with a concentration in accounting from the University of South Alabama. Ethridge was recently promoted to Senior Associate.
Bradshaw
The following have been promoted to Senior Manager: Amanda Houston, CPA (Gadsden) Jake Bechert, CPA (Birmingham) Kayla Phillips, CPA (Gadsden) Luke Arnett, CPA (Gadsden)
Emma has been employed with Machen McChesney since 2018. Emma’s principal areas of practice include business taxation and accounting and auditing governmental entities. She received her BSBA in Accountancy from Auburn University, and holds minors in Economics and Spanish from Auburn University.
Riles
Also, Heather Chappelle has been promoted to Director of Human Resources and Laura Watkins has been promoted to Director of Audience Development.
Eric has been employed with Machen McChesney since 2020. Eric’s principal areas of practice include individual and business tax and auditing. He received his Bachelor of Science degree in Accountancy from Auburn University and holds a minor in Finance.
Nichols
BMSS Advisors & CPAs is proud to share our newly promoted employees:
Mayfield
Revenue Radio gives practice managers the tools they need to run a successful and profitable medical practice. Revenue Radio’s host, Kassouf Healthcare Solutions Executive Director Jeff Dance, discusses the opportunities and challenges related to the business side of medicine along with engaging guests. The Kassouf Podcast Network is available on all major listening platforms. It is also available as a vodcast via Vimeo. (Top left) In June, BMSS advisory experts represented the firm at the 145th Alabama State Bar Annual Meeting.; (Top right) BMSS team members hit it off at NAWIC’s (National Association of Women in Construction) recent Top Golf event! (Bottom left) BMSS Advisors & CPAs was honored to host Birmingham’s Women in Manufacturing Alabama event in July at Key Circle Commons. (Bottom right) We are thrilled to be named a 2022 IPA 200 Firm by INSIDE Public Accounting!
Brunson Byrne Welch Wolfe Kintz
Kassouf’s trusted advisors are offering their expertise in a new format: the Kassouf Podcast Network.
“Podcasts continue to be a popular and easy way to consume content. We’re excited to offer tips in a new and accessible way for our clients and colleagues, truly meeting them where they are,” said Director Gerry TheKassouf.channel is comprised of two shows, the Kassouf Podcast Network and Kassouf Healthcare Solutions’ Revenue Radio. Both shows release monthly.
KPN uses Kassouf’s team of certified public accountants, information technology experts, business advisors, healthcare consultants, and financial planners to offer tips to help business owners and individuals make smart financial decisions.
The firm recently welcomed two new employees: Kaden Kramer and Katelyn Thigpen, CPA. Kramer joined the firm as an intern in 2022, and is a student member of the ASCPA. After graduating with a Bachelor of Science in Business Administration in accounting from Auburn University, he was brought on as an associate. Thigpen earned a Bachelor of Science in Commerce and Business Administration and Master of Accountancy from the University of Alabama. She began her career in public accounting in 2013 before joining the firm as a manager in 2022.
Wilkins Miller LLC is also pleased to announce the following promotions: Lucas Brunson to Senior Associate, Mallory Byrne to Senior Associate, Kate Welch to Supervisor, Mitchell Wolfe to Supervisor, and Jeffrey Kintz to Manager. Each of these team members have demonstrated expertise in their roles, professionalism, leadership and stellar attitudes.
UAB Collat School of Business students recently honored four professors with the inaugural CSOB Teaching Excellence Awards. ASCPA Member Marena Messina, Visiting Instructor of Accounting at the Collat School of Business, was one of those four. The new teaching awards honor one professor in each academic department and in the graduate program and are voted on by Collat students. The award recipients were honored at the school’s 50th Anniversary reception celebration in April. Each receives a $1,500 cash award. Messina was awarded the Loudell Robinson Excellence in Accounting Teaching for the 20212022 academic year. Messina serves as the co-advisor of both Beta Alpha Psi and the Janet Herring Mentoring Program. Messina is currently pursuing a Ph.D. in Business Administration with a concentration in accounting at Kennesaw State University. She is also a UAB and University of Alabama alumna. She teaches AC 200 (Principles of Accounting), AC 402 (Income Taxation I) and AC 452 (Income Taxation II).
FIRM NEWS
CLASSIFIEDS SELLING YOUR FIRM IS COMPLEX. LET US MAKE IT SIMPLE. Accounting Biz Brokers has been selling CPA firms for over 17 years and we know your market. We have a large database of buyers ready to purchase. Our “Six Steps to Success” process for selling your firm includes a personalized, confidential approach to bring you the win-win deal you are seeking. Our brokers are Certified Business Intermediaries (CBI) specializing in the sale of CPA firms. We are here to help you navigate through the entire sales process – from marketing to negotiating, to closing and successfully transitioning the firm. Contact us TODAY to receive a free market analysis. Listings include: • NEW: East Memphis Suburb $950k • W Middle TN $318k • East Memphis Area $520k-Sale Pending • Knoxville 600k-SOLD • Memphis Gross $708k-SOLD • Bartlett, TN Gross $550k-SOLD • Huntsville Gross $200k-SOLD • NE MS Tax & Bookkeeping Firm Gross $850k-SOLD Kathy Brents, CPA, CBI Kathy@AccountingBizBrokers.com Cell 501.514.4928, Office 866.260.2793 Visit us at www.AccountingBizBrokers.com YOUR PRACTICE WANTED Thinking about selling your practice? Accounting Practice Sales delivers results, bringing you the best price, optimal terms and a buyer who represents an ideal fit for your clientele. Contact us today for a confidential discussion. Our current listings include: • North of Birmingham CPA grossing $540K * New * • Near Tuscaloosa & Birmingham CPA grossing $55K * New * • Biloxi, MS area CPA grossing $200K * New * • 30 Miles North of Florence, AL tax practice grossing $205K * New * • South of Birmingham (Shelby County) CPA grossing $150K * Available After 10/15 * • Northwest of Birmingham CPA grossing $315K * Sold * • Cullman County CPA grossing $340K * Sold * • Baldwin County CPA grossing $245K * Sold * • Knoxville area CPA grossing $385K * New * • Nashville area accounting and tax practice grossing $180K * Available * • Nashville area audit and review practice grossing $30K *Available * • Southwest TN / Northeast MS tax and accounting practice grossing $160K * New * For more information on these listings or to sell your practice, contact Lori Newcomer, CPA and Tim Price, CPA at (888) 553-1040 or PNgroup@APS.net, or visit www.APS.net. TAX ACCOUNTANT WANTED D. Bruce Logan, LLC is seeking a tax professional with 5+ years experience in individual, partnership, corporate, and/or fiduciary taxation that is looking for more of a home life/work life balance. This position can be full time or part time with flexible hours. The heaviest workload is from January through mid-May, but never requires more than 40 hours per week. From mid May to early August the workload would be approximately 10 hours per week. The remainder of the year would have a workload of approximately 20 hours per week. Preference given to applicants with active CPA license, multistate tax experience, bookkeeping and financial statement preparation, and proficiency with QuickBooks and ProSeries. Corporate experience is also a plus. For more information email bruce@brucelogan.net 30 ASCPA Connections
Have you ever noticed a CPA postage stamp hanging on the wall in the Society’s office?
On September 21, 1987, the United States Commemorative 22 cent stamp registered “Plate” was issued to commemorate the 100th Anniversary of the CPA profession in America.
James L. Hart, CPA #1378, gifted the ASCPA with a framed sheet of this commemorative stamp 35 years ago.
The Alabama Society of Certified Public Accountants 1041 Longfield Court P.O. Box Montgomery,242987AL 36124 Presort Std US Montgomery,PermitPostagePAIDNo131AL Delivering Results - One Practice At a time ASCPAwww.APS.net888-553-1040Member $1 Billion+ in Practice Sales RecognizedMost BrandGreatestNumberof Buyers Most Successful Brokers When YOU are surrounded by results… Success FOLLOWS! We’ll sell YOUR practice for the highest price and best terms. Scan Here Lori Newcomer, CPA & Tim Price, PNgroup@aps.netCPA
