AZ CPA December 2017

AZ CPA December 2017

Economic Nexus for Income Tax The New Revenue Recognition Standard Accounting Advisory Services

The Arizona Society of Certified Public Accountants y www.ascpa.com

Are you utilizing Arizona’s foster care tax credit?

This dollar-for-dollar credit now stands alone.

Reduce your state taxes while helping Arizona's children in care.

To take advantage of this credit, please visit TaxCreditForKids.org/cpa

“To ensure that every child has someone who cares”

2

AZ CPA DECEMBER 2017

An Arizona 501(c)(3) Qualifying Foster Care Organization tax ID # 86-0611935; United Way ID # 0023

Arizona Society of Certified Public Accountants

DECEMBER 2017 AZ CPA

3

AZ CPA The Arizona Society of Certified Public Accountants

Accounting and Assurance Conference January 10, 2018 Black Canyon Conference Center Also offered as a webcast Are You Ready for the New Revenue Recognition Standards?

Peter R. Alfele, CPA, CliftonLarsonAllen LLP Data Analytics – The New Art of Winning Roger Wahman, Intersys West Region

President & CEO

Cindie Hubiak

Editor

Patricia Gannon

Advertising

Heidi Frei

Board of Directors Chair Chair-Elect Secretary/Treasurer Directors

Immediate Past Chair Greg Nelson AICPA Council Members

SOC Auditing: What Risk is There to My Organization of Not

Monitoring My Vendors?

Chapter Presidents Southern Chapter Northern Chapter

Michael S. Nyman, CPA, CliftonLarsonAllen LLP Arizona State Board of Accountancy: Its Mission and Functions LeRoy M. Gaintner, CPA, President of the Arizona State Board of Accountancy Leading With Emotional Intelligence Brittney Williams, CPA, Heinfeld, Meech & Co., P.C. Do’s and Don’ts for Expanding Your Practice Into New Areas Joe Epps, CPA, Epps Forensic Consulting PLLC IT Security and Cyber Frauds Dr. Robert K. Minniti, CPA, Minniti CPA LLC

Learn more and register at www.ascpa.com/AAC2018 4

AZ CPA DECEMBER 2017

Molly Montgomery Mike Allen Jared Van Arsdale Michael Chesin Virginia DeSanto Tom Duensing Marcus Feder Kristen French Alan Gold Aaron Grant Julia Miessner Alice Pope Jeffrey Quick Nikki Vogt Char Woodall

Karen Abraham Armando Roman

Cathy Poore Bethany de Alva Southwest Chapter Helen Greenwell North-Central Chapter Ellen Carpenter AZ CPA is published by the Arizona Society of Certified Public Accountants (ASCPA) to provide information, news and trends in the profession of accounting. It is distributed 10 times a year as a regular service to members of the Society. The ASCPA, its members, board of directors and administrative staff assume no responsibility for advertisements herein. The ASCPA and the above people also assume no liability for business decisions made by readers in reference to statements and/or claims in articles or advertisements within this publication.

Opinions expressed by contributors are not necessarily those of the ASCPA. Arizona Society of CPAs 4801 E. Washington St., Suite 180 Phoenix, AZ 85034-2040 Telephone (602) 252-4144 AZ Toll-Free (888) 237-0700 www.ascpa.com

AZ CPA Volume 33 Number 10

December 2017

Features

11

In Good Company Ryan Nicholas Patterson, CPA, CGMA, director and CFO of Apache County Finance and mayor of the city of St. Johns is profiled.

by Patty Gannon

13

Former Scholarship Recipient Earns CPA — Kathryn Cheney, CPA

Cheney begins her journey as a CPA with the help of the foundation.

14

Time Is Ticking — Are You Ready for the New Revenue Recognition Standard?

The new standard affects more than accounting and financial reporting, and implementation can be a significant undertaking.

Columns & Departments Chair’s Message by Molly E. Montgomery, CPA 6 Member News

7

A Dash of SALT by James G. Busby, Jr., CPA

9

ASCPA Board Highlights

22

Quick Quiz

25

Classifieds 26

Arizona Society of Certified Public Accountants 4801 E. Washington St., Suite 180 Phoenix, Arizona 85034-2040 www.ascpa.com

17

Economic Nexus for Income Tax Nexus criteria vary by state — a review of the states where individual provisions are noted.

by Laura Robichaud

21

Demand for Accounting Advisory Services Is on the Rise Opportunities for specialized advisory services are projected to increase in the near future.

DECEMBER 2017 AZ CPA

5

ASCPA Chair’s Message

Shifting the Unconscious Bias

by Molly E. Montgomery, CPA

We have made incredible progress with women’s initiatives in our profession. And, we cannot allow ourselves to become resigned or complacent with our efforts.

6

AZ CPA DECEMBER 2017

Several weeks ago while scrolling through my Facebook news feed, I came across an event posting that grabbed my attention. The event topic was intriguing, so I followed the link to a landing page that provided the event details. The first thing I noticed was the impressive panel of leaders who would be leading a valuable discussion. I paused in disappointment when I quickly noted the five-person all-male panel painfully lacked any element of gender diversity. Thankfully, I was not the only one who noticed. Another gentleman spoke up by commenting on the post, encouraging the coordinator of the event to redo the format to include women leaders on the panel. The discussion that ensued was nothing more than an acknowledgment of how the all-male panel would be portrayed in the media. I cringed as I read the interaction until I finally chimed in to point out that including women on a panel of leaders has nothing to do with optics. I was grateful the issue was being addressed but equally disappointed by how far they were missing the mark on addressing the real issue.

This disturbing interaction on Facebook caused me to reflect on my own professional journey. I vividly remember the first time I was told I had to choose between having a successful career or having a family. I was sitting in a management class my senior year of college when the professor asked the women in the class to raise their hand if they aspired to have a successful career. He then asked anyone who wanted a family to take their hand down. He was attempting to prove a statistical point, but the underlying message stuck with me. I ventured into the professional world with a preconceived notion that, at some point, I was going to have to choose. This belief was validated over the years as I saw colleagues delay sharing the exciting news of a new pregnancy as long as they could, fearing the news would negatively impact their upcoming performance review, and knowing they would be treated differently once the news was shared. Their concerns were quickly confirmed as the announcement was made. The congratulatory cheers were lessened by the mumbling amongst colleagues, “well, there goes her career.”

A lack of women in high levels of leadership is a well-known issue. Roughly 6% of companies in the Fortune 500 are led by female CEOs. About 20% of the U.S. Congress is comprised of women. Female entrepreneurs receive only 2% of all venture funding that is awarded in our country. And, women make up only 19% of partners in accounting firms nationwide. More than half of accounting graduates entering the profession are women, which has been the case for the last 20 years. And, when looking at the senior manager level within public accounting firms, roughly 46% are women. The lack of women reaching high levels of leadership is not caused by a lack of interest or a pipeline issue.

I know how frustrating this topic can be due to the significant time, money and effort we continually put toward improving gender diversity among leadership. One of the best pieces of content I have come across that addresses the issue as it pertains to the accounting profession was recently published by the Accounting and Financial Women’s Alliance. When you have a moment, I encourage you to read the valuable insights shared in this report. You can find it by searching online for “Pipeline to Finish Line: A Challenge to the Industry.” We have made incredible progress with women’s initiatives in our profession. And, we cannot allow ourselves to become resigned or complacent with our efforts. The greatest challenge of all is in shifting the unconscious bias that can be so difficult to recognize when it exists.n

Member News

Bill Reeb, AICPA vice chair, Mike Allen, CPA, ASCPA chair elect, Cindie Hubiak, CPA, ASCPA president and CEO and Barry Melancon, AICPA president, at the 2017 AICPA/CPA-SEA Leadership Conference.

REDW Principal Stephen Theodore Harris, CPA, has been elected to the board of directors for the Cancer Support Community of Arizona (CSCAZ).

Cindie Hubiak, CPA, CGMA, was appointed to the CPA/SEA board.

Morrison, Clark & Company has been selected as one of the Phoenix Business Journal’s 2017 Best Places to Work for the second year in a row. Justin Jensen, MBA, CPA, has joined the firm as senior tax manager.

Adela E. Jiménez, CPA, CGMA, recently presented the Road to the CPA program to the Xavier Preparatory School accounting class taught by Barbara Marie Bond, CPA. Xavier is the only school in Arizona teaching this accounting curriculum, which is sponsored and endorsed by the AICPA.

More than 80 Henry+Horne employees, family and friends stepped out at the Phoenix Zoo for the UMOM New Day Centers’ Walk for Homeless Families and Youth. The firm also donated $2,100 to help UMOM New Day Centers provide safe shelter and support services for over 170 homeless families. Henry+Horne was recently named as one of the 2017 Accounting Today’s Best Accounting Firms to Work. Only 100 accounting firms in the U.S. make the list.

In Memoriam Louis “Lou” Jacobo, CPA

DECEMBER 2017 AZ CPA

7

azhope.com azhope.com

Join me in making a differenc e in the lives ofAsArizona’s a board 19,000 foster member children of Hope & A with theI Future, Arizona Foster encourage youCare and Tax yourCredit. clients to join me and make a differenc e in the lives of Donations Arizona’sby December 17,500 foster 31st to Hope & A children.

Future qualify for the tax credit up to $1,000 (married Donations couples) or

by December $500 (singles) 31st to Hope & A. Future qualify for an Arizona Tax Credit: Three ways to help today: 1) Donate at Up to $800 azhope.co m couples for married 2) Share the Up to $400 taxfor credit wit h your clients single taxpayers 3) Download and share brochure at azhope.co Take m/taxcre advantag dit.pdf e of this opportuni ty and inform your clients how they can give Arizona's REAL HOPE foster children are to Arizona’s counting foster on us! children

by December 31st. na D on a te fo r th e A ri zoO P E H d it eC re G iv ,Ta ow n te a on D x re a F os te r C h il d . com st er foop aa zh to c e. t a

Arizona’s 22nd Governor Jan Brewer Arizona’s 22nd Governor Hope & A Future Board Member

Hope & A Future 909 W. McDowell Rd. Phoenix, AZ 85007 602-258-5860

8

AZ CPA DECEMBER 2017

A Dash of SALT

Arizona is Re-examining the Taxation of Digital Goods and Services In this month’s state and local tax (SALT) column, Busby explains why an Arizona legislative committee is re-examining the application of state and local sales taxes to proceeds from digital goods and services, the scope of its review, and where the panel seems to be leaning after its first few meetings.

Arizona’s Joint Legislative Ad Hoc Study Committee on the Tax Treatment of Digital Goods and Services has been meeting roughly once a month since the end of July. When the next legislative session begins in January, it is likely to recommend legislation that will clarify whether digital goods and services are subject to Arizona sales tax.

The Need for Transparency The committee was formed at the request of the business community, which is concerned by aggressive positions that the Department of Revenue has quietly advanced in audits and in private taxpayer rulings based on sales tax laws enacted long before digital goods and services were even contemplated.

For instance, given the DOR’s expansive view of Arizona’s definition of tangible personal property and of what constitutes a lease, it has taken the position that proceeds from online research databases, online computer backup services, cloud storage services, and online website building and hosting businesses are subject to sales tax as proceeds from renting tangible personal property.

Likewise, given its expansive view of Arizona’s definition of tangible personal property, the DOR believes that many companies worldwide receiving income from digital goods licensed to customers with billing addresses in Arizona are subject to both state and municipal sales taxes, even though the companies do not have a physical presence in the state.

According to a legislative staffer’s presentation, Arizona is one of just nine states that impose tax on digital goods based merely on its revenue agency’s interpretation of the law. By contrast, 17 states opt not to tax digital goods based on their interpretations of the law, 18 impose tax on digital goods via statute, and two have statutes that specifically exempt digital goods.

by James G. Busby, Jr., CPA

James G. Busby, Jr., CPA, is a state and local tax attorney at The Cavanagh Law Firm. Busby previously worked in the SALT departments at Arthur Andersen and Deloitte & Touche. Before entering private practice, Busby was in charge of all transaction privilege (sales) tax audits at the Arizona Department of Revenue.

If you have any questions, please contact the author. He can be reached at (602) 322-4146 or JBusby@CavanaghLaw.com.

The Committee’s Charge The committee is expected to review: • The DOR’s positions and its efforts to disseminate those positions; • Legal issues regarding the taxation of digital goods and services in Arizona and other states; • The administrative implications of taxing digital goods and services, including the impact on both taxpayer compliance and tax administration; • The tax treatment of digital goods and services in other states, including

DECEMBER 2017 AZ CPA

9

•

•

the economic impact; The potential Arizona tax impact of taxing digital goods and services; and, Recent legislative and regulatory actions designed to address the tax treatment of digital goods and services in Arizona and other states.

Initial Leanings During the committee’s first meeting, Rep. Michelle Ugenti-Rita (R), its co-chair, interrupted a legislative staffer during his overview presentation to clarify that, while some states have responded to the advent of digital goods and services by expanding their tax bases to specifically tax such goods and services, Arizona may not go in that direction. That point was consistent with her statement upon the committee’s formation that “as people’s behavior changes with advancements in technology, government too must not hinder technological innovations or growth in our economy.”

Before the first meeting, the committee’s other co-chair, Sen. David Farnsworth (R), said that it “is designed to examine Arizona’s tax structure to assure it is keeping pace with the rapid development and expansion of digital technologies, while at the same time guaranteeing that Arizona retains its competitive business climate.”

During the committee’s initial meeting: • Both co-chairs inquired about the state’s potential exposure for refund claims if one or more taxpayers successfully challenge the DOR’s positions in this area; • DOR Deputy Director and committee member Grant Nülle argued that an exemption for digital goods and services could have a substantial fiscal impact; and, • Arizona Tax Research Association President Kevin McCarthy, a committee member, questioned whether an exemption that merely clarifies that digital

goods and services never should have been taxed in the first place should be considered to have a fiscal impact.

As of the first week in November, after three committee meetings and with the next legislative session only two months away, only one thing is certain: this issue is likely to keep many lobbyists busy next year! n

Join James Busby and your peers at the next ADOR Luncheon at the ASCPA offices on Dec. 12 from noon-1:00 p.m.

T:7.5”

Make your year-end less taxing.

Access ADP’s digital year-end payroll guide full of resources like handy checklists, calendars, and valuable best practices. Plus, webcasts with critical tax updates and strategies.

Get access now at adp.com/ascpa ADP, the ADP logo and ADP A more human resource are registered trademarks of ADP, LLC. All other marks are the property of their respective owners. Copyright © 2017 ADP, LLC. All rights reserved.

10

AZ CPA DECEMBER 2017

T:4.5”

Essential tools right at your fingertips.

In Good Company — Profile Ryan Nicholas Patterson, CPA, CGMA Director and CFO of Apache County Finance and mayor, city of St. Johns Ryan Patterson serves as director and CFO of Apache County Finance, a position he has held for more than 10 years. Patterson spent four years in the public accounting profession, conducting financial statement audits of a variety of national and international entities. The majority of his public accounting experience was spent with Ernst & Young.

Patterson holds a Master of Business Administration and a bachelors’ degree in accounting from W.P. Carey School of Business, Arizona State University. He serves as a member of the Government Performance and Accountability Committee for the American Institute of Certified Public Accountants. He is vice-chairman of White Mountain Regional Medical Center and mayor of the city of St. Johns for more than three years and has been on the City Council for five years.

What is your biggest challenge as mayor of St. Johns?

We are a community that has been less diverse. We have a lot of power plants and utilities that provide jobs, and we would like to diversify that job pool. Our biggest challenge is trying to get the youth to return to our area once they are done with their schooling.

We want them to have places to work once they come back. This is our biggest struggle.

What made you decide to run for Mayor?

I became mayor because I had the desire to help. I grew up in this community. I was born and raised there, and I’m fifth generation. So when that opportunity came up – I was humbled to accept it.

I think any time you see the benefits of your service in the lives of others, it becomes rewarding. We recently did a project with Arizona Game and Fish, and they stocked a pond, and you can watch families come out and fish. It has been a really fun project. Previously we

had to drive 15 minutes to an hour away to fish — now it is in their backyard.

How much time do you spend on your duties as mayor of St. Johns?

I spend about 15 hours a week on “mayor stuff.”

Does being a CPA help you in that position?

Certainly, the ability to be able to use my CPA background helps me look at the numbers and see how things will play out. It helps us be practical.

What are the challenges of your job as CFO of Apache County Finance?

Keeping and being able to recruit talent is also one of the biggest challenges in my finance director position.

We try to find people who can come in and contribute to the organization.

Government and schools are important to us, but still, the power plants are our biggest employer. As the coal plants get squeezed out, we need to diversify and find work for those in the community that need it.

How large is your staff at Apache County Finance?

We have a staff of six in the finance department, and they do a fabulous job.

It really is almost impossible to replace people when they leave. I hear that from across the state of Arizona; CPAs are in big demand and we can’t afford to pay what the Phoenix firms offer.

What do you do in your spare time?

I coach high school basketball for fun.

Being able to work with those young students and watching them grow and see them having families and careers, it’s neat – and that brings me excitement.

I also have six kids – three girls and three boys – ages one to 15. They are awesome! It is a challenge raising six kids, but my spouse is amazing! All of the kids help each other, and they do it so gracefully. n — Patty Gannon

DECEMBER 2017 AZ CPA

11

LEAD. DELIVER. TRANSFORM. 1-877-475-4779 | Or, call your broker. | azblue.com/group Blue Cross Blue Shield of Arizona is an independent licensee of the Blue Cross and Blue Shield Association.

D13591B 05/16

12

AZ CPA DECEMBER 2017

346078-17

Fearless Means Business. Experience, trust and results matter to the health of your business. With Blue Cross Blue Shield of Arizona, you can count on us to provide innovative solutions that keep your business and Arizonans moving ahead.

What has surprised you most about accounting?

What surprised me most was learning about the number of different career paths that are available to accountants. Also, I was surprised that accounting concepts have different effects on different industries.

What do you enjoy most about your job?

I enjoy the daily challenges of projects and learning new roles in the accounting department. I have had the opportunity to have different roles and learn how various areas of accounting function with our company.

How can CPAs support accounting students and graduates on their path to the CPA?

Former Scholarship Recipient Earns CPA — Kathryn Cheney, CPA Your donations to the Arizona CPA Foundation for Education & Innovation are making a difference. Kathryn Cheney received a scholarship from the foundation for the 2010-11 school year, when she was a student at Glendale Community College. She continued on to receive her bachelor’s and master’s in accounting and recently earned her CPA. Let’s hear more from Cheney about her journey to becoming a CPA. Q&A With Kathryn Cheney, CPA – Senior Accounting Analyst, FreeportMcMoRan, Inc. How did you decide you wanted to be a CPA? When I was a senior in high school I took an accounting class and was involved in Future Business Leaders of America (FBLA). I enjoyed the challenge of my classes and FBLA accounting competitions, as well as the problem-solving skills I was able to develop through these experiences. By the end of my senior year, I knew I wanted to be accountant; I decided to complete both a bachelor’s and master’s in accounting and obtain my Certified Public Accountant license.

How did you motivate yourself to stay on track to earn your CPA designation?

My friends, family, and co-workers were a great support system that kept me on track as I worked toward completing my CPA. It took me the full 18 months to complete the exams. Even when I failed to pass an exam, I did not give up because I knew I could obtain my certification. My perseverance, dedication, and hard work paid off, and I earned my CPA.

While working toward my certification, I inquired with CPA professionals about their experiences throughout their careers. I found these conversations both helpful and encouraging; I gained a better understanding of accounting and the variety of career paths that were available to me. When fellow professionals continue to mentor accounting students, we are helping develop the next generation of CPAs.

What new personal or professional goals are you working toward?

The company I work for is large enough that I can learn new roles of accounting on a regular basis. My goal is to continue to learn and understand new aspects of accounting and how they impact our company and industry. In addition, we are an international company with operations in South America, so I would like to learn Spanish in the coming year to be able to speak to coworkers overseas in their own language when discussing business.

Assist students on their path to becoming a CPA by donating to the CPA Foundation for Education & Innovation. Make a donation of $50 or more by Dec. 31, and your name will be listed in a future issue of the AZ CPA magazine.

Go to www.ascpa.com/foundation. n

DECEMBER 2017 AZ CPA

13

Time Is Ticking — Are You Ready for the New Revenue Recognition Standard?

The new revenue recognition standard, ASU 2014-09 (Topic 606), will take effect as early as January 1, 2018, for public entities and January 1, 2019, for other organizations. These dates are quickly approaching.

Read More Articles About the New Revenue Recognition Standard It is important to confirm which effective date applies to each entity. The definition of a “public entity” includes more than just public businesses.

For example, nonprofit entities that have issued, or are conduit bond obligors for securities that are traded, listed or quoted on an exchange or an over-the-counter market are included. Employee benefit plans that file or furnish financial statements with the SEC are also included in the definition of public entity. These organizations may have to adopt the new standard sooner than they may have originally thought.

New Standard May Affect Functional Areas Many companies have not started an implementation plan. But because the standard affects more than accounting and financial reporting, implementation can be a significant undertaking. Even if no major changes are anticipated to existing revenue recognition policies, the new

14

AZ CPA DECEMBER 2017

rule may still affect functional areas such as marketing, human resources, pricing and legal. The standard could potentially impact every company’s accounting process and the way customer contracts are executed, so controllers and CFOs should take action now to understand how it may affect internal controls, systems and financial reporting processes, and to evaluate transition options.

The standard could potentially impact every company’s accounting process and the way customer contracts are executed ...

Get Started With Assessment and Implementation This principles-based standard replaces all existing guidance under current U.S. Generally Accepted Accounting Principles (GAAP) and requires different judgments and estimates, along with a significant amount of additional financial statement disclosures. The new framework is based on the core principle that revenue should only be recorded when goods or services have been transferred to a customer at the agreed-upon price and when the customer can use or benefit from the goods or services provided.

There are five steps that must be used in evaluating contracts to apply this core principle: 1. Identify contracts 2. Identify performance obligations 3. Determine transaction prices 4. Allocate transaction prices to performance obligations 5. Recognize revenue obligations Accountants should get familiar with the new five-step approach and the new definitions. Read the standard and discuss it with your peers and members of industry associations. As the changes are evaluated, consider how your accounting judgments compare to the judgments of peers and competitors — it is important to be consistent.

Conduct an Overall Impact Assessment One of the first steps in this new environment is to evaluate whether a client’s revenues are likely to change based on specific contract language, products and services offered and

industry accounting practices. Also, it is important to consider customer incentives, rebates, financing or warranties, and whether the contract pricing includes variable or contingent consideration — all of which could impact revenue recognition.

Management should be involved in a preliminary assessment of high-level impacts, such as required changes to contracts and pricing, information technology, and personnel. Leaders should evaluate the company’s culture and tone at the top for managing change. Then, the focus should move to functional areas other than accounting and finance that are part of the sales process. Document the impact assessment along the way, including significant judgments and estimates.

Begin an Implementation Project Plan Existing processes and systems for revenue (and cost) data may need to be modified to accommodate new accounting and disclosure requirements, which could require substantial time prior to the adoption date. In addition, internal controls will likely need to be designed, documented and tested.

The amount of time required to successfully implement will vary for each organization. Variables include the products and services offered, existing revenue streams, the number and complexity of customer contracts, processes and systems used to gather sales data and report it across the

organization and the resources (internal and outside) available.

This standard will result in more changes for certain industries than others. It may affect operational and performance metrics and key company stakeholders (i.e., boards, investors and lenders) may need to be informed of the changes. Once an implementation plan is developed, it will need to be modified and monitored over time.

How to Get Started As the effective date approaches, preparation is imperative. Working with these changes will take time and resources. Management, consultants and CPAs will all have to work together to understand the impact on each organization as these changes ripple through the industry. n A version of this article was originally published by CliftonLarsonAllen LLP. Contact Peter Alfele at (602) 604-3513 or peter.alfele@claconnect.com for more information on revenue recognition.

See Peter R. Alfele, CPA, present this topic at the Accounting and Assurance Conference on Jan. 10, 2018.

Go to www.ascpa.com/aac2018 DECEMBER 2017 AZ CPA

15

HELP STOP HUNGER IN ARIZONA Thanks to SB 1216 and SB 1217, St. Mary’s Food Bank is able to greatly help Arizonans in need.

800

EACH

$

DONATION PROVIDES

MEALS

5,600 TO HUNGRY

FAMILIES & CHILDREN

IN ARIZONA

EVERY

1

$=

DONATED

ARIZONA CHARITABLE

TAX

CREDIT

HELP FEED

ARIZONA

StMarysFoodBank.org (602) 753-0960

2831 N. 31st Ave Phoenix, AZ 85009

*You do not need to itemize your state taxes to qualify. Please consult a qualified tax advisor for personal tax advice.

SMFBA_CPA_EOY_2017.indd 1

16

AZ CPA DECEMBER 2017

10/26/17 1:24 PM

Economic Nexus for Income Tax

by Laura Robichaud Historically, the term “nexus� has been used to describe a connection, and a connection is extremely important in determining nexus state reporting requirements for a non-domiciled business. Physical presence in a state will trigger nexus for an out-of-state business resulting in a transactional tax reporting requirement for that business. However, over the past 10 years, tying nexus to economic presence, rather than physical presence, has become increasingly more popular with states.

And, with the growing changes in technology and business solutions, businesses of all types can now reach customers or perform services without ever going into another state.

DECEMBER 2017 AZ CPA

17

While the ability to perform services or transactional business via the internet is remarkably efficient for multi-state activities, some states believe these services and business activities also can create economic nexus connections, thereby allowing those states to apply income tax and other similar type taxes to a non-domiciled business.

Economic nexus is hinged on the concept of substantial nexus, which is part of what is referred to as factor presence standards.

Factor Presence Standards Nine states consider non-domiciled businesses to have a nexus connection based on factor presence standards.

Essentially, these nine states have quantified what it means to have economic nexus.

Based on the framework of standards adopted by the Multistate Tax Commission (MTC) in 2002, nexus criteria vary by state. Consistently, however, nexus involves a measurement of

property, payroll and sales in a state, with the fundamental element of factor presence being the sales factor. The nine states currently utilizing a factor presence standard are: Ohio, Alabama, California, Colorado, Connecticut, Michigan, New York, Tennessee and Washington.

Certain Individualistic Provisions There are certain individualistic provisions in some of these states that need to be noted.

Colorado What causes a degree of confusion for many tax preparers is that Colorado, in addition to the factor presence, also uses the cost-of-performance sourcing for sales of services when determining apportionment. Costof-performance is apportioning the services performed based on where the actual service activity was performed, not where it was received.

Colorado also adopted the MTC proposed market-based sourcing for sales of services. That means that a business could have to source its Colorado sales under both methods. Therefore, a non-domiciled business could end up exceeding the sales factor threshold for nexus and filing purposes but have a zero apportionment factor for income tax calculation purposes.

Michigan The State of Michigan adopted a $350,000 sales threshold for the Michigan Business Tax (MBT), which is now also used for determining income tax reporting requirements. This is viewed as a relatively easy measurement, and when paired with adoption of market-based sourcing of services, provides a bright-line test for economic nexus. Public Law 86-272, which does not allow states to impose an income tax on non-domiciled business activities related to the solicitation of sales orders of tangible personal property

Every child in Arizona deserves high-quality education.

By donating to IBE, you provide scholarship funds with a dollar-for-dollar tax credit.

Less than 5% of Arizona tax payers utilize

this credit. Every student deserves the best, so make your taxes matter to the children of Arizona.

ibescholarships.org Notice (A.R.S 43-1603): A school tuition organization cannot award, restrict, or reserve scholarships based soley on a donor’s recommendation.

A taxpayer may not claim a tax credit if the taxpayer agrees to swap donations with another taxpayer to benefit either taxpayer’s own dependent.

18

AZ CPA DECEMBER 2017

and delivery of the property related to those orders overrides Michigan’s factor presence standards which state that a nexus connection is established if the $350,000 sales threshold is met and the out-of-state company actively solicits in Michigan.

It is also important to note that Michigan is one of the few states that has published information on their interpretation of what it means to “actively solicit” in their state (Michigan Department of Treasury Revenue Administrative Bulletin 2013-9).

Ohio Ohio has enacted a commercial activity tax (CAT). This is a franchise tax on the privilege of doing business based on the gross receipts of a business. Public Law 86-272 is not an issue, as Ohio uses a market-based sourcing for services. Only nondomicile companies that have met the bright-line presence test are required to register, file and pay the CAT tax.

California California’s factor presence thresholds are earmarked and are adjusted annually for inflation. Plus, they use market-based sourcing of services for apportionment. California’s Franchise Tax Board has also published Notice No. 2011-06, to address a non-domiciled business related to the factor presence standards, when determining whether such business was actively engaging in transaction(s) for the purpose of profit. And, like many other states, California adopted the ambiguous “doing business” language in their revenue and taxation code. The California factor presence thresholds still do not have certainty because there is no safe harbor under which nexus is not created. Rather, these thresholds can be seen as an alternative test over which nexus is established.

revenue sources to achieve their budgeting goals. As a result, states have enacted, and will continue to enact, different types of taxes as a way to create a nexus connection and filing requirement. It is also clear that as states look for more ways to increase their tax base, the movement to an economic nexus will become more standardized in the next few years. We accounting professionals, charged with advising and serving businesses involved with multi-state activities, will be required to spend more time keeping current with the changes taking place. But, the satisfaction of a client well-served is a fitting reward. n Laura M. Robichaud, DBA, MBA is state and local tax senior manager for Eide Bailly LLP in Phoenix. Robichaud is a member of the ASCPA.

Outlook Most states are having budget problems. They are on the lookout for new

BROPHY COMMUNITY FOUNDATION

Student Tuition through Tax Credits

Tuition aid for students who qualify solely by financial need who attend Brophy College Preparatory, Loyola Academy & an additional 32 Catholic and Private K-8 schools

Dollar-for-Dollar Tax Credits Make Your Donation Today www.brophyfoundation.org

Arizona’s #1 rated School Tuition Organization

Genny Matteucci - Executive Director Dawn Kennedy - Director, Corporate Tax Credits

DECEMBER 2017 AZ CPA

19

So You Want to Buy or Sell an Accounting Practice?

Here are the Keys!

If your 2017-18 goals include selling your practice to begin to enjoy your well-deserved retirement plans or you’re confident that now is the time for you to grow and prosper by acquisition. Now is the time to talk!

Arizona Practices Currently Available Through Able Tax and Accounting Practice Sales Location Prescott Phoenix Flagstaff Cochise Co.

License EA CPA CPA CPA

Gross Revenue $ 200,000 400,000 260,000 90,000

Tax % Acct% Ref # Goal Achieved AZ1091 Goal Achieved AZ1119 60% 40% AZ1120 70% 30% AZ1102

Visit our web site at www.ableta.com Gary W. Hankins, CPA* hankins@ableta.com (817) 738-3287 *Licensed in Texas

(… and more are currently in negotiations)

Visit our web site at www.ableta.com for further discussion of the process of buying and selling accounting and tax practices plus review our success story, principles of operation and how our customers appreciated our services.

THIS IS ONE OF THE MOST IMPORTANT DECISIONS OF YOUR CAREER! We can answer all your questions.

Where can an AICPA C redential take your career next?

If you have a specialized interest, you can build on the value you offer clients by adding an AICPA advisory service credential: Personal Financial Specialist (PFS ), Accredited in Business Valuation (ABV ), Certified in Financial Forensics (CFF ) or Certified Information Technology Professional (CITP ). These credentials were developed for the profession by the profession. They set you apart, make a statement and get you noticed. ®

™

®

®

And, they can seriously boost your career.

© 2017 Association of International Certified Professional Accountants. All rights reserved.

AICPA and American Institute of CPAs are trademarks of the American Institute of Certified Public Accountants and are registered in the United States, European Union and other countries.

The Globe Design is a trademark owned by the Association of International Certified Professional Accountants and licensed to the AICPA. 23438B-326

Explore your opportunities at aicpa.org/aicpacredentials.

20

AZ CPA DECEMBER 2017

Information Management and Technology Assurance in an Increasingly Complex World Today, many corporate executives and operational managers expect immediate, on-demand financial information, advice and services. As a result, accounting operations and information management systems are becoming increasingly interdependent.

As technology evolves and advances, ensuring the integrity and transparency of financial data and business reporting information becomes a more complex process and more critical than ever.

Qualified financial professionals who hold the Certified Information Technology Professional (CITP®) credential are equipped to provide assurance for, or business insight into, financial-related data, processing or reporting in an everchanging business environment

Demand for Accounting Advisory Services Is on the Rise It may not be surprising that the accounting services industry is projected to grow at 1.8% overall between 2012 and 2017. But it may come as a surprise that specialized advisory services are projected to grow the most aggressively — at a 5.7% clip during that same time period. There also is an increasing international demand for expertise in emerging A&A areas.

Accounting organizations around the globe are addressing this with specialized resources and advisory service credentials. Here are a few highlights for specific advisory service areas: Forensic & Valuation Service Professionals — Trusted Experts Around the Globe In response to increased market demand for specialized services and a recognition of the rapidly growing forensic accounting and business valuation disciplines, the Accredited in Business Valuation (ABV®) credential was created in 1997, and the Certified in Financial Forensics (CFF®) credential in 2008.

The global demand for qualified forensic and valuation specialists continues to grow as courts and other triers of facts not only seek out, but recognize CFF and ABV credential holders as experts in their respective fields.

In the 2013 “Top 100 Firms” issue of Accounting Today magazine, it was noted that more than 77% of firms offering business valuation services reported significant growth. In addition, 74% reported growth in litigation support (fifth-largest population), and 65% reported growth in forensic accounting (seventh-largest population).

The Aging Population & Personal Financial Planning As baby boomers age and retire in record numbers, they are increasingly looking for objective financial guidance and advice to help prepare them for the next stage of their lives. This is triggering a great demand for personal financial planning services and resources.

Other factors driving this growth are tax law complexities and an uncertain regulatory, political and economic environment.

The Personal Financial Specialist (PFS™) credential was created in response to the increased market demand from this growing population segment and rapid growth in the number of financial professionals providing personal financial planning.

Building on your expertise with an AICPA advisory service credential makes a strong statement. It sets you apart and gets you noticed. Credentials boost your career potential and credibility. Most of all, an AICPA credential establishes you as an expert. And that can be an invaluable addition to your résumé and practice.

Learn more at www.aicpa.org/credentials. n

DECEMBER 2017 AZ CPA

21

Highlights of October Board of Directors Meeting Among other actions at its October 18, 2017 meeting, the ASCPA Board of Directors reviewed the following: Consent Agenda The consent agenda, which included the board minutes, financial statements and investment policy, was approved.

Report from the Life and Honorary Committee Greg Nelson chaired the committee which included Rufus Glasper, Mark Landy, Bruce Nordstrom, Peggy Ullmann and Cindie Hubiak. Layne Simmons was approved as life member by the board.

Strategic Planning Meeting Preparation Cindie led a discussion on how to improve the value offered to CPAs by the Society over the next three to five

years. The board divided into groups to assess how the Society can provide value to CPAs based on their area of work, number of years licensed and explored ways to assist accounting graduates who are not following the path to CPA licensure.

Conduct and Professional Standards among other changes.

A Day in the Life Kristen French, Armando Roman and Nikki Vogt each shared a view of the challenges and joys they experience in their life and job.

Strategic Plan Update Cindie provided an update on the progress to achieve the Society’s strategic measurements, and Mike Allen gave an update on the nominating committee progress. The board approved submission of a letter from the Society to the Governor in support of the rule packet put forward by the Accountancy Board related to incorporation of the AICPA’s Code of

Other Business No other business was conducted.

If you have questions or would like additional information, please contact Cindie Hubiak at (602) 324-2888; AZ toll free at (888) 237-0700, Ext. 203; or chubiak@ascpa.com. n

arizona charitable tax credit Please Share This Info With Your Clients!

It’s easy. It’s not just a deduction. It’s a tax credit that comes right off your total taxable income for the State of Arizona. BHHS Legacy Foundation will match your Arizona Charitable Tax Credit donation dollar-for-dollar.

This doubles your gift for children in need!

ADDED OPPORTUNITY: Taking advantage of school tax credit is a win-win for you and public school students.Your gift assists the schools in accomplishing the critical work that lies ahead in educating the whole child. Plus donating to BTSCD and a public school helps that school two-fold, as 25,000 students helped by BTSCD are from Arizona public schools.

*Please, direct clients to: www.btscd.com/taxcredit

22

AZ CPA DECEMBER 2017

2018 Arizona Tax Guide Order the only comprehensive guide on Arizona taxes Authors: Pat Derdenger, Steve Rodis and Ed Zollars New in the 2018 Arizona Tax Guide: Sales Tax Simplification, with a single portal for filing and paying state, county and all city sales tax (both program and non-program cities), went into full effect on January 1, 2017.

The Arizona Tax Guide includes the following guides: • The Arizona Income Tax Guide is a comprehensive reference that highlights the differences between Arizona and Federal income tax law and provides references to the Arizona Revised Statutes for a more in-depth analysis. It highlights the differences between individual, corporate, partnership and trust taxes, includes tax tables, and is arranged in a way that facilitates research on any topic.

• The Arizona Sales and Use Tax Guide is a resource for anyone preparing or filing city sales and use tax returns. The guide details the various sales and use tax rates that apply to each type of sale or product as well as the many exceptions, administrative provisions and Model Cities Tax Code provisions.

• The Arizona Personal Property Tax Guide outlines the nature of the tax, reporting requirements, analysis of forms, audit and appeal procedures and small business exemptions.

• The Arizona Unclaimed Property Guide covers Arizona rules that apply to unclaimed property, how to report and pay, and how to file your claim.

Pre-order by Dec. 15, 2017 and save Guides will be available for delivery mid-January 2018.

Spiral-Bound Book: Pre-Order by Dec. 15, 2017 ❒ Members of ASCPA, Phoenix Tax Workshop, State Bar of Arizona or Enrolled Agents: $85

❒ Nonmembers: $105 After Dec. 15, 2017 ❒ Members of ASCPA, Phoenix Tax Workshop, State Bar of Arizona or Enrolled Agents: $95

❒ Nonmembers: $115 Electronic PDF:

❒ Members of ASCPA, Phoenix Tax Workshop, State Bar of Arizona or Enrolled Agents: $79

❒ Nonmembers: $99 *Call (602) 252-4144, ext. 200, for special pricing on orders of five or more.

Order and learn more about the guides at www.ascpa.com

Name ___________________________________________ Company ________________________________________ Address ________________________________________ City ___________________State _____ Zip ___________ Phone __________________ Fax ____________________ Email ____________________________________________

❒ CPA ❒ Attorney ❒ EA ❒ Other: ________________

Method of Payment: ❒ Check ❒ VISA ❒ MasterCard ❒ American Express Name on Card ___________________________________ Card Number ____________________________________ Exp. Date ____________ Amount $ ________________ Signature of Cardholder__________________________

Please return this form and payment to:

Arizona Society of CPAs 4801 E. Washington St., Ste. 180 Phoenix, AZ 85034-2040 Fax credit card orders to: (602) 252-1511

Sales tax, standard shipping and handling prices are included.

*The ASCPA will be processing checks submitted in payment as an Electronic Funds Transfer (EFT) transaction. Funds may be withdrawn from your account as soon as the same day we receive your payment.

DECEMBER 2017 AZ CPA

23

Where many see obstacles, Resolute sees outcomes. > > > > >

Partnership Disputes Receivership Special Master/Purpose Interim & Crisis Management Securing and Managing Assets

> > > > >

Business Valuation Asset Recoveries Liquidating Trustee Financial Restructuring Franchise Management & Compliance

Full service financial advisory firm with expertise in partnership disputes.

Download the Partnership Dispute Fact Sheet now: resolutecommercial.com/ASCPA

RESOLUTE

resolutecommercial.com 7201 E. Camelback Road, Ste. 250 Scottsdale, AZ 85251

problems solved.

ASCPA’s Mentor Match Feedback makes all the difference! We heard you, and we have simplified the registration process for the Mentor Match program.

Enroll today and become a mentor and/or a mentee.

Becoming a mentor and/or mentee allows you to: • Connect with other CPA members • Share experiences • Gain knowledge to develop you career • Find guidance on career changes or in the undertaking of new responsibilities Become a mentor or mentee today at connect.ascpa.com. Click on Engage in Mentoring in the navigation bar and choose “About Mentoring.” Follow the steps to sign up as a mentor and/or mentee.

If you have questions, email Cynthia at cquinonez@ascpa.com

24

AZ CPA DECEMBER 2017

AZ CPA Quick Quiz You’ve Read It, Now Get Credit Take this quiz online or submit this hard copy on AZ CPA content.

Receive a score of 70 percent or more and earn one hour of CPE credit in specialized knowledge. It’s that easy!

Fees: Members: $25 Nonmembers: $40 Online Access Go to www.ascpa.com/QuickQuiz to access links to all active quizzes. Purchase quiz and the quiz link and password will be emailed to you. Your results will be sent immediately after completing, and certificates are emailed within two business days.

Hard Copy Please select one answer for each question. Fill out registration/payment information below and mail or fax to the Society office. Quiz results and certificates will be emailed to the address provided on the registration form. *This quiz will be available until December 2018. Please note that users have three attempts to pass the quiz with at least a 70 percent score.

December 2017 Issue of AZ CPA* 1. In the Chair’s message, women make up what percentage of partners in accounting firms nationwide? m 6% m 19% m 26% 2. Busby mentions that Arizona is just one of how many states that impose tax on digital goods based merely on its revenue agency’s interpretation of the law. m 9 m 17 m 18 3. What are the challenges Patterson faces as CFO of Apache County Finance? m Keeping and recruiting talent m Diversifying work opportunities m All of the above 4. Cheney suggests CPAs should support accounting students and graduates on their path to the CPA by: m Advertising jobs m Mentoring m Attending graduations

5. The new Revenue Recognition Standard replaces all existing guidance under current U.S. Generally Accepted Accounting Principles (GAAP). m True m False 6. The core principle of the new Revenue Recognition Standard is that revenue should be recorded when goods and services have been transferred, at an agreed upon

price: m To the benefit of the customer m To the benefit of the seller m With no benefit to anyone 7. States in recent years are trying to tie nexus to this type of presence to generate new revenue sources to meet budgeting goals: m Physical m Economic m Spiritual 8. Economic nexus is hinged on the concept of substantial nexus, which is a part of: m Public Law 86-272 m Commercial Activity Tax m Factor Presence Standards

9. Specialized advisory services within the accounting industry are expected to grow: m The most aggressively m At 1.8% between 2012 and 2017 m At a clip of 5.7% annually 10. Specific advisory service areas highlighted in this article include all but: m Certified Financial Forensics m Entity and Intangible Valuations m Personal Financial Planning

Quick Quiz Registration Name: ____________________________________________________ Email:_____________________________________________________ Telephone: _________________________________________________

Payment

m Member: $25 m Nonmember: $40 Checks: Please make payable to: The Arizona Society of CPAs Credit Card:

m Visa m MasterCard m American Express

Credit Card #: _______________________________________________ Expiration Date: _____________________________________________ Name on Card. _____________________________________________ Mail to: ASCPA, 4801 E. Washington St. Suite 180, Phoenix, AZ 85034-2040; fax to (602) 324-6045 scan and send to ASCPACPE@ascpa.com.

DECEMBER 2017 AZ CPA

25

Classifieds Business Opportunities/ Practices for Sale BUSINESS ACQUISITION — Our North Scottsdale CPA firm is seeking to expand and is looking to purchase small to mid-sized practices. We can be flexible during the transition and open to the needs of the seller. Our firm has been practicing in the valley for over 30 years with an emphasis on business taxes and accounting. Our office culture is relaxed and supportive; while always placing our client’s needs first. We are active in our community and received a top semi-finalist 2017 Governors Arts Award for supporting the arts as cofounder of the Scottsdale Philharmonic.

Contact us today at larry@partridgecpas. com or call (480) 990-2727.

FOUNTAIN HILLS CPA TAX PRACTICE — For sale: Sole practitioner looking to retire 6/1/18 solid long term tax clients w/ $430k in annual tax billings. No audits or reviews. Contact Al at alhutch99@aol.com.

Employment CPA WITH OWNERSHIP AMBITION — CPA Financial Advantage, P.C. — Upper-level account management duties such as review of accounting, recording and analyzing financial activity, and tax interviews. • 10+ years’ public accounting experience with CPA certificate required, with emphasis on tax preparation and review. • Bachelor’s degree in accounting preferred; Arizona CPA license required. • Possess strong problem solving and analytical skills and have in-depth understanding of GAAP and special purpose framework reporting. • Excellent interpersonal skills, communication, and attention to detail a must. • Ability to perform tax and accounting research and work overtime as needed. • QuickBooks knowledge required. • Knowledge of Intuit Lacerte, Adobe, Microsoft Office, and CS Pro Suite desirable. Submit resumes to Jayne.Wright@cpafapc.com.

CFO/VP OF FINANCE — United Way of Tucson and Southern Arizona - Bachelor’s Degree in Accounting or Finance with 10+ years of not-for-profit experience or equivalent combination

Tax Software Roundtables Software roundtables are back again this year. This is a valuable opportunity to meet with other tax professionals who use the same software. We will talk about recent updates, as well as share tips and tricks. Bring your questions and insights to this lively discussion in preparation for the new tax season.

All events start at 8 a.m. with breakfast and networking, roundtable from 8:30 – 10 a.m.

Lacerte - January 5 - www.ascpa.com/lacerte

Drake - January 9 - www.ascpa.com/drake

Ultra Tax - January 16 - www.ascpa.com/ultratax

CCH Pro Systems - January 26 - www.ascpa.com/cc

26

AZ CPA DECEMBER 2017

of education and experience. Preferably a Master’s Degree and CPA. A qualified candidate will be an energetic, forwardthinking and creative individual with high ethical standards and an appropriate professional image; a strategic visionary with sound technical skills, analytical ability, good judgment and strong operational focus with a demonstrated capacity to establish and promote productive partnerships and collaborative efforts with a diverse group of constituents. Salary range $100K-$110K DOE plus benefits. Email resume and cover letter to: jdenigris@ unitedwaytucson.org.

PARTRIDGE & ASSOCIATES, CPAS — Our North Scottsdale CPA firm seeks a highly motivated person for our rapidly growing firm. They must have prepared business and personal tax returns in the last four years and have working knowledge of Quickbooks. We specialize in business taxes and accounting. We are offering a rapid growth and advancement program to an individual who would like to quickly develop into our dynamic management team. Send your resume with salary request to larry@partridgecpas.com.

SENIOR TAX ACCOUNTANT, STAFF ACCOUNTANT— CPA Global Tax & Accounting PLLC — Fast growing and highly reputed CPA firm in North Scottsdale specializing in international tax matters is seeking applications from hardworking CPAs/ accountants with strong accounting/ tax background; combination of foreign and US qualifications/accreditations and bilingual skills preferred. We can consider applications from persons of strong academic background ; 2-5 years of experience in a CPA firm will be of an advantage. We offer excellent training, working conditions, growth opportunities and salary structure. Please send your Resume to: cpaglobaltax@gmail. com. No phone calls please.

TAX MANAGER AND TAX STAFF CPA — Eight-person Tucson CPA firm, has Tax Manager and Tax Staff positions open for CPAs with a minimum of five years of recent CPA firm experience with partnership potential. Proven sales and marketing skills are highly desirable. We offer highly competitive salaries and comprehensive benefits, including group health insurance, 401(k) with company 4% contribution, eight paid holidays, paid sick time and vacation, and complete reimbursement of all CPA related expenses. Please apply for the Tax Manager or Tax Staff opportunity today, by sending your resume and salary requirements to cpafirm3@ gmail.com.

Office Space TUCSON CPA OFFICE SHARE OR EXECUTIVE SUITES — Full service CPA office has 1-3 offices available for an office share arrangement or executive suites. Full service includes utilities ,office support, telephone, copier, printer and fax. Lease rates depend on number of offices and services provided. Email: garecpa@aol.com.

TUCSON OFFICE SPACE AVAILABLE — Fort Lowell, Dodge, 4,500 SF remodeled building, 7 offices available. Gated parking with 25 parking spaces. Three conference rooms, three bathrooms. Kitchen with dining area.

Two patios. Share space with long established CPA firm. Fred@fcscpa.net.

For information about classified or display ads, go to www.ascpa.com

Governmental Accounting Conference February 2, 2018 Hyatt Regency – Phoenix Update on State Budget — Richard Stavneak, Joint Legislative Budget Committee GASB Update – What Lies Behind and Beyond the Blue Covers — David R. Bean, Governmental Accounting Standards Board Resolving Ethical Dilemmas – You Make the Call — David L. Cotton, Cotton & Company, LLP Lunch Presentation — Current State of the American Municipalities — Scott Smith, Valley Metro Concurrent Sessions 1: Reporting Fiduciary Activities and Leases – A Closer Look — David R. Bean, Governmental Accounting Standards Board Municipal Bankruptcy 101: What the CFO and Auditor Need to Know — Kenneth Pun & Vanessa Burke, The Pun Group Anatomy of a Cyberattack — Michael Cocanower, itSynergy Concurrent Sessions 2: Déjà vu: GASB’s Revised OPEB Standards – Haven’t We Done This Before? — Donna Miller & Michael Stelpstra, State Auditor General’s Office, and Erin Higbee, Arizona State Retirement System Managing vs. Leading — David L. Cotton, Cotton & Company, LLP From Risk Assessment to Analyzing Data – Key Fraud Detection Tools — Karin Smith, Heinfeld, Meech & Co., P.C.

Special Thanks to Platinum Sponsor: Henry+Horne

Learn more and register online at www.ascpa.com/gac2018 DECEMBER 2017 AZ CPA

27

Arizona Society of CPAs 4801 E. Washington St., Suite 180 Phoenix, AZ 85034-2040

PRSRT STD U.S. Postage PAID Phoenix, Arizona Permit No. 952 ADDRESS SERVICE REQUESTED

28

AZ CPA DECEMBER 2017