May/June 2013 - Florida CPA Today | Volume 29, Number 3 by Florida Institute of CPAs

F L O R I D A

florida C P A

TODAY

contents M AY / J U N E 2 0 1 3

VOLUME 29, NUMBER 3

A P U B L I C AT I O N O F T H E F LO R I DA I N S T I T U T E O F C E R T I F I E D P U B L I C A C C O U N TA N T S

cover story

departments CPA Legislators Take the Lead in 2013

Photos and cover photo provided by the Florida House of Representatives

Dealing With a Qualified Domestic Trust Practical Tips

From Office to Outdoors FICPA Chief Operating Officer Retiring in June

President’s message

26 DOR update

Chair’s message

20 News briefs

features

Make the Most of Your Mega CPE Conference Foreign Pensions and Florida Practitioners Oops….

32 Staff reports 34 Marketplace 36 On the move

CPE Attendees Choose Outstanding Discussion Leaders

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www.ficpa.org

F L O R I D A

PRESIDENT/CEO Deborah L. Curry, CPA, CGMA SR. DIRECTOR OF MARKETING & COMMUNICATIONS Jan Dobson, CAE, IOM EDITOR Suellen D. Wilkins

Think BIG Savings Save BIG on your vacation to Walt Disney World® with Mega CPE Conference. The FICPA Room Rate for this event saves you over $200/night while Mega gets you CPE as low as $11.25/hour!

GRAPHIC DESIGNER Loleta K. Bolden PUBLICATIONS COORDINATOR Dianne Dearduff EDITORIAL COMMITTEE Walter C. Copeland, CPA, chair Michael S. Kridel, CPA, vice chair Matthew P. Behnke, CPA • Douglas E. Day, CPA Lynda M. Dennis, CPA • David J. Hochsprung, CPA Troy Y. Manning, CPA • Vicki H. Meyer, CPA William C. Quilliam, CPA, Ph. D. All articles submitted to Florida CPA Today are subject to technical review, Editorial Committee review, space availability and editing requirements and restrictions. Please contact the editor before submitting unsolicited manuscripts. Florida CPA Today publishes letters to the editor in its Members’ Forum. For information about the guidelines, visit www.ficpa.org/letterstoeditor. Statements expressed herein are those of the identified authors and not necessarily those of the Florida Institute of Certified Public Accountants, Inc., nor should statements be considered endorsements of products, procedures or otherwise. The FICPA reserves the right to reject any editorial material or paid advertising that does not meet Florida CPA Today criteria or detracts from its ethical and professional standards. Florida CPA Today is published bimonthly by the Florida Institute of Certified Public Accountants, Inc., P.O. Box 5437, Tallahassee, FL 32314. Telephone: (850) 224-2727 or (800) 342-3197. (Street address: 325 West College Ave., Tallahassee, FL 32301.) Visit our website at www.ficpa.org. This magazine is provided to members of the FICPA. No specific amount of your dues, either expressed or implied, is for this publication. This magazine is not available for purchase by either FICPA members or nonmembers. For display advertising information, contact the FICPA Marketing Department at (850) 224-2727, Ext. 270. © 2013 by the Florida Institute of Certified Public Accountants, Inc. All rights reserved. Reproduction in whole or part is prohibited without the express written consent of the FICPA.

MAY/JUNE 2013

chair’s M E S S A G E

Closing the Books on Rewarding Work admit it. I’m looking forward to allocating time back to my son Brooks, daughter Adriana and fiancée Kristin (Happy June Birthday!) once I become the first FICPA past chair. You can bet that in July, we’ll be spending some well-deserved, lazy days on the gulf beaches or flying for a quick getaway.

been the very sound voice of reason on Scott Price, CPA which we’ve depended – always focused on what’s best for members. He’s a man of few words but when Glenn speaks, you listen. I wish Glenn happy fishing, hunting, gardening, traveling and whatever else he dreams up during retirement.

Brooks (Happy Birthday, buddy!) recently asked me, “Dad, what are you going to do for a job once you quit working for the FICPA?” I jokingly responded, “Don’t worry. I’m going to find something that pays better!” However, I don’t think I’ll find anything that is as rewarding.

It has been my privilege to work with the insightful members of the BOG. Thanks to Glenn and Past President Stam Stathis for their work with our nominations process, making BOG succession more fluid and cohesive. Chair-Elect Ken Strauss and his strong Executive Committee are wellprepared to lead. I also thank Marshall Gunn for helping to ensure that we had the right financial resources to fund and achieve strategic goals this year.

Well done this year are our outreach to young CPAs and our efforts to attract more student members. To date, 1,200 Florida accounting students have responded positively to the FICPA’s free student-membership initiative. While visiting recently with business students from Florida Southern College, I was inspired by their eagerness and energy. You can tap that youthful energy by participating in the FICPA’s new Internship Opportunity Engine. Post your internship online today at www. ficpa.org. Look no further than the 2013 Mega CPE Conference for evidence that the FICPA is putting a fresh, fun face on CPE for FICPA members. Are you joining my family on June 12-15 for all the fun at Walt Disney World®? On page 16 are tips for making the most of your Mega CPE Conference experience. Don’t wait to register – the early bird price ends June 3 and hotel rooms are filling up fast. See you on Space Mountain with Brooks and Adriana after a morning of CPE. On the topic of hard work and change, Glenn Thomas is top of mind. After 31 years as the FICPA’s chief operating officer, Glenn is retiring. Read more about Glenn and his accomplishments on page 12. Since I’ve been involved with the Institute, Glenn has FLORIDA CPA TODAY

I am grateful to and inspired by our professional staff. For the past several years, I’ve experienced the inner workings of the FICPA and witnessed how staff members dedicate themselves to serving the diverse and growing needs of more than 18,000 members. We have a great staff of which we should be proud. Most important, I send my heartfelt thanks to you for your membership and support. The FICPA is built by CPAs, for CPAs. You are the sole reason for our existence; your voice is vital. The nominating committee soon will call for BOG nominations. Won’t you consider applying for a leadership position? Our organization needs your involvement to remain the relevant, vibrant and dynamic voice of Florida CPAs. Please reach out to me if you ever have a suggestion or thought for the FICPA. You can email me at chair@ficpa.org until June 30. After that, call up to Tallahassee – they can track me down! It has been my honor to serve you.

FCT

www.ficpa.org

PRESIDENT’S

message

The Look of Membership And the opportunity to grow

hat does our membership look like? Not in terms of physical characteristics, but in age, gender or years of membership? Have you ever pondered who the FICPA’s future members might be, and how they might differ from current or past members?

Every Florida CPA benefits from the

In the March/April issue of Florida CPA Today, we announced the FICPA 26 Under 36. What a thrill it was to highlight the wonderful achievements of our young, dynamic CPAs who are the Institute’s future. I thank the employers who supported our efforts to recognize these young leaders who have so much to contribute to our profession.

need your help to get the message out to

With the future in mind, I thought you might find it interesting to understand how our association membership is changing, and how that might affect our ability to serve you in the future. These graphs highlight some of our membership characteristics. Graph 1 shows about 55 percent of our members are in the 46-65 age categories, whereas members in the 26-45 age categories constitute only 29 percent of membership. What’s the message? We should enthusiastically promote the FICPA’s successes and the value of joining the organization that represents CPAs’ professional interests. 6

Deborah L. Curry, CPA, CGMA

MAY/JUNE 2013

legislative and professional representation the FICPA provides. Events affecting our profession have a profound effect on our licenses and on the conditions under which we operate. Keeping our members informed is the key to their success. We non-member CPAs. Graph 2 shows a variance between male and female members. However, statistics I’ve seen reflect a closer relationship between the genders in terms of licensees and accounting graduates. The upcoming Women’s Leadership Summit at the 2013 Mega CPE Conference provides invaluable networking opportunities for female CPAs. We invite all female CPAs to join us for an exciting lineup of speakers and fun events on June 13. During the next five years, about 950 members will be eligible for Lifetime membership. With 40 years of membership to their credit, we congratulate them on their service to the FICPA and the accounting profession. They’ve seen the profession evolve during their lifetimes, and they have so much to share with the generations following in their footsteps.

“If you could change one thing about the FICPA, what would it be?”

Consider this: The revenue associated with those 950 members is about $250,000, which will phase out as the members reach complimentary Lifetimemember status. To continue operating at a robust level, we need not only to replace those 950 memberships, but to exceed that number. We want strengthen the FICPA’s presence throughout the state of Florida.

Graph 1: FICPA Membership by Age

Many association CEOs are pondering how best to guide their organizations to accommodate changes in membership. In closing, I seek your input to these questions: • What can I do to increase our membership in the 26-45 year age category? • What do you, as a member, value most about the FICPA? What can I do to better provide that value? • What could you do to help me convince non-member Florida CPAs of the value of belonging to our professional organization? • If you could change one thing about the FICPA, what would it be?

Graph 2: FICPA Membership by Gender

I am interested in your thoughts. Please let me know by contacting me at curryd@ ficpa.org Thank you for your continued support of the FICPA. FCT FLORIDA CPA TODAY

Graph 3: FICPA Members Eligible for Lifetime Membership www.ficpa.org

MAY/JUNE 2013

By Michael Rosenberg, Esq.

ll section (§) references are to the Internal Revenue Code of 1986 as amended, and the regulations issued thereunder, except references to Florida statutes, which are cited as Fla.

Stat. §.

This article consists of tips for practitioners who are assisting clients in obtaining the benefits of the U.S. estate tax marital deduction when the surviving spouse is not a U.S. citizen (hereafter “surviving spouse”).1 This analysis is excerpted from Michael Rosenberg’s more extensive article published in the November 2012 issue of Estate Planning (a monthly journal of Thomson Reuters). Readers should take into account any changes that may result from the American Taxpayer Relief Act of 2012, or any other legislation. This article may reference certain fact patterns when discussing an issue, but such fact patterns may not be the exclusive manner in which the issue may arise. 1) Protecting the income in respect of a decedent deduction

3) Planning for life insurance Any U.S. citizen or RAD, and any NRAD owning U.S. situs property, should make certain that any life insurance is obtained through an irrevocable trust to avoid having the life insurance proceeds be required to otherwise pass to a QDT. 4) Using an individually owned limited liability company to own foreign real estate while simultaneously satisfying the U.S. trustee requirement and avoiding a future foreign real estate transfer tax This tip can help if the facts otherwise allow an individual trustee to serve as the QDT trustee, but foreign counsel advises that a local transfer tax will arise should a trustee change be needed if such individual resigns, dies or becomes disabled. 5) Consider filing an amended estate tax return, or an arm’slength loan from the QDT to the surviving spouse.

When a surviving spouse receives §691 income in respect of a decedent (IRD), the surviving spouse must consider the §691(c) income tax deduction with respect to the estate tax attributable to such IRD. Because of the deferred nature of the §2056A(b) qualified domestic trust (QDT) tax, this potentially valuable income tax deduction can be missed. Even when it is recognized, how and when to match or make the appropriate connection is not an easy task.

When, prior to a determination that a QDT is required, the surviving spouse has been receiving the full monthly pension payment previously received by the decedent spouse, rather than only the “income” portion as determined under the QDT regulations, consider amending the Form 706 or entering into an arm’s-length loan.

2) The potential surprise impact of §684

If the surviving spouse inherits foreign real estate in a civil law country that cannot be owned by a trust such as the QDT, but can be owned by a corporation that can be owned by the QDT, must the trustee file a private letter ruling to obtain approval of an alternative plan or arrangement to validate such a transfer to the QDT by the surviving spouse?

In certain “older” situations, a Nonresident Alien (NRA)/Nonresident Alien Domiciliary (NRAD) then contemplating conversion to Resident Alien (RA)/Resident Alien Domiciliary (RAD) status may have created a foreign trust on or before Sept. 19, 1995. Such a trust may have grantor status pursuant to a grandfather exception, but with no U.S. estate tax inclusion and no date of death fair market value basis step-up. If the decedent’s death terminates the grantor trust status, thus resulting in the §684 tax as if appreciated property were transferred to a foreign trust, such income tax is attributable to the decedent. If the decedent is Florida domiciled, the tax should be an expense of the decedent’s probate assets, thus reducing those assets that might otherwise be transferred to a QDT.2 This can be a surprise when the surviving spouse was expecting more assets to be available for funding the QDT. FLORIDA CPA TODAY

6) Consider using a private letter ruling in unique situations

7) Using the $600,000 or less personal residence exclusion to keep the QDT corpus at $2 million or less In determining the more than $2 million threshold and whether or not the more complex bank trustee, bond or letter of credit requirements must be met, the decedent’s estate can elect to exclude up to $600,000 in value of domestic or foreign “personal residence” real property. ➡ www.ficpa.org

Access Florida CPA Today Archives Online For your convenience, Florida CPA Today articles from 1997-present are posted on the FICPA’s website at www.ficpa.org/ Content/Members/ Tools/Publications/ FCT/Archives.aspx. The archives provide a variety of previously published information, including technical articles written by member CPAs, legislative updates, DOR and IRS updates and much more.

8) Using a protective QDT election to avoid a catastrophe If uncertainty exists as to the value or situs of assets, or as to the decedent’s domicile status, consider a protective QDT election. 9) Using common sense Aside from the technical tax issues associated with a QDT, many other reasons dictate the use of common sense. 10) Paying some U.S. estate tax may be beneficial if other U.S. tax provisions dictate doing so If an asset is likely to appreciate substantially, then in the right circumstances, it might be wise to pay some estate tax up front and avoid the QDT. 11) Using traditional domestic valuation discounting techniques The fair market value of the QDT assets at the date of death of the surviving spouse will result in the deferred estate tax with respect to the estate of the first decedent spouse. Noting this, the impact of postmortem tax planning with respect to the QDT can be significant. 12) Planning to benefit from hardship distributions Illiquidity versus “reasonably available other sources” might provide an opportunity for U.S. estate tax-free hardship exemption distributions. 13) Using a unitrust to enhance the QDT return When the QDT is not generating sufficient income for the surviving spouse, consider conversion to a unitrust. 14) Consider reimbursing the surviving spouse for any foreign income tax on foreign source pension payments rolled over to the QDT If the QDT regulations permit the surviving spouse to receive only the income but not corpus portion of a pension payment, all of which payment constitutes IRD for U.S.

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income tax purposes, reimbursement from the QDT for some income tax (possibly including foreign income tax) may be in order. 15) Reasons for using multiple QDTs and a designated filer When the decedent spouse and the surviving spouse have different dispositive objectives or different trustee choices, multiple QDTs can work. 16) Consider paying some U.S. estate tax now to avoid the more than $2 million asset value QDT complex bank trustee, bond or letter of credit requirements In situations where the federal estate tax value of the assets going into the QDT exceeds $2 million, it may be wise to pay some estate tax currently and avoid the otherwise expensive restrictive trustee requirements. 17) Negotiating for a reduced bank trustee, bond or letter of credit cost Use leverage with the asset portfolio manager to serve as the QDT trustee for a reduced fee when the asset values exceed $2 million. 18) Consider the effects of community property law Regardless of how assets may be titled, community property rules may present tax savings or surprise complexities! 19) Always consider the effects of possible tax treaty overrides Tax treaties often present tax savings opportunities, and this also may prove true in the QDT arena. 20) If the facts fit, the surviving spouse should consider becoming a U.S. citizen Satisfying and monitoring the QDT requirements and surprise consequences can be extremely tedious, challenging and costly. When the surviving spouse is likely to become or remain domiciled in the U.S., the surviving spouse should give serious consideration to becoming a U.S. citizen.

21) Using a split-gift can yield phenomenal benefits The spouse owning potentially U.S. estate taxable assets is limited when making gifts to a non-U.S. citizen spouse to the inflation-adjusted $100,000 annual spousal exclusion. However, when the spouse owning the assets is a U.S. citizen or an RAD and the non-U.S. citizen spouse also is an RAD, split-gifting can be very beneficial. 22) Considering the impact, if any, in states that have not decoupled When a state like Florida has not decoupled from the federal estate tax, the deferred nature of the QDT tax combined with the eventual U.S. estate tax, if any, of the surviving spouse can result in some very unusual consequences. Assume the first decedent died in a year in which a partial credit for the state death tax was allowed, and during which time Florida used that credit as its estate tax. Could the Florida Department of Revenue (DOR) later claim Florida estate tax after the federal statute of limitations had expired, thus resulting in potential double taxation? If that scenario were to arise, would the IRS turn over any “creditable” amount to DOR? Should equitable recoupment be available if need be?

25) Protecting the potential benefit for foreign tax attributable to assets funding a QDT To benefit from the credit for any estate, inheritance, legacy or succession taxes actually paid to a foreign country with respect to property situated within such foreign country and included in the gross estate of a U.S. citizen or RAD, practitioners should consider filing some type of protective claim with the IRS in the year in which such foreign country tax is paid. FCT

Michael Rosenberg, Esq. is a shareholder with Packman, Neuwahl & Rosenberg, PA. In addition to his general tax and estate-planning practice, he has a substantial international taxation practice concentrating on foreign citizens investing in, doing business in, and immigrating to the U.S.; and on U.S. citizens investing in,

doing business in, or expatriating to foreign countries. The FICPA published a book co-authored by Rosenberg and Bruce B. Packman, Foreign Invest ment in the United States – Tax and Related Matters. Rosenberg also authored an FICPA book, Estate & Gift Taxation of Nonresident Aliens in the United States. Both books are used for FICPA CPE courses, for which Michael generally serves as a discus sion leader. He was named FICPA Discussion Leader of the Year in 2008 and 2010. The author thanks Shawn P. Wolf, Esq. for his technical review of this article. Endnotes 1 IRC §2056A. 2 Fla. Stat. §733.707(1).

23) Planning through the use of an arm’slength loan If the appropriate situation arises, the surviving spouse enters into an arm’slength loan with the QDT and the requisite terms of such loan are complied with, the regulations do not seem to preclude this as an alternative to avoid a taxable event. 24) If the surviving spouse erroneously files a Form 1040 as an RA instead of a Form 1040NR as an NRA, some unique issues may arise If a surviving spouse who erroneously filed as an RA had received QDT U.S. estate taxfree distributions equal to any U.S. income tax paid by such surviving spouse on what the QDT rules deemed “corpus,” if such surviving spouse later timely amends and files NRA returns and receives tax refunds, some interesting issues must be dealt with. FLORIDA CPA TODAY

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From Office to Outdoors

FICPA Chief Operating Officer Retiring in June By Suellen Wilkins, Florida CPA Today editor

n June 30, Glenn Thomas will retire as the FICPA’s Chief Operating Officer after 31 years of service. He began working with the Institute in April 1982 as director of administration and finance. In December 1998 he became senior director of operations and in July 2002, chief operating officer. He served as the Institute’s interim executive director from March through September 2011. “It’s hard to envision the FICPA family without Glenn’s presence,” said FICPA President/CEO Deborah Curry. “He has played a significant role in building our organization, and his perseverance and thoughtful guidance are the reason for many of our successes. There is no way to measure his many contributions or the positive impact he has had on our employees, members and community. Although we will miss him, we know he has earned his time to enjoy and relax!” “Glenn hired me in 1988 and has been a wonderful boss, mentor and friend,” said FICPA Chief Financial Officer Donna Son. “He’s a great listener and his responses are thoughtful and thorough. He’s also good at processing information and thinking through the best course of action before responding. Glenn is a dear friend and confidant and I’ll miss him very much.”

Thomas’ youngest daughter, Anna, was married Nov. 10, 2012. Pictured left to right: Thomas his wife, Gwenn; Anna and her husband, Scott; and Thomas’ daughter Lani and grandsons, Barrett and Trenton. 12 MAY/JUNE 2013

“I can honestly say that in the 31 years I’ve been with the FICPA, I’ve never been bored with the job,” Thomas said. “There have always been challenges and new things to learn, and the chance to learn them. When you work for an

association like the FICPA, and with professionals such as CPAs, the opportunities are endless and life is good. “If I had to do my entire career over again, I wouldn’t do much differently,” he said, “except find more time to spend with family.” Family time is of the essence Thomas ties to the accounting profession run deep. His wife, Gwenn; brother, John Perry Thomas of Thomas Howell Ferguson, PA in Tallahassee; sister, Bonnie Gandy of Law, Redd, Crona & Munroe, PA in Tallahassee; and Gwenn’s “As the FICPA’s sister, Nan Stowell, all are chief operating CPAs. Gwenn’s father was an auditor in the Air Force, officer, I had and Thomas’ grandfather was an accountant for Yon’s great mentors Hardware in Tallahassee.

in CEOs Buddy Turman and Kathy Anderson,” Thomas said. “I cannot say enough about staff and leadership, and the advice and support they’ve given me.”

“My parents were my primary role models,” Thomas said. “I learned my work ethic and my ‘handyman’ skills from my father. I also got my love of landscaping and being outdoors from him. I got my love of the arts from my mother, who was a talented painter. Much of her work decorates our house and the homes of my brother and sister.”

In Thomas’ head-down, working office are organized stacks of various project documents, a desk calculator and a large-screen computer monitor. But displayed among them are the many photos that represent his love of family. Thomas and his wife have been married for 33 years. They have two daughters – Lani, who works in banking, and Anna, who works in insurance; two sons-in-law, Kendall and Scott; and two grandsons, Barrett, who is 10 and Trenton, who is 5. Thomas’ family also includes a black Labrador retriever, Coal and a tabby cat, Simon. FLORIDA CPA TODAY

Thomas met Lou Holtz at the FICPA FABExpo in Orlando in 2008.

Gwenn retired in 2010 as the chief operating officer for the Florida State Board of Administration. She serves as treasurer and on the Executive Committee of Refuge House, a non-profit shelter in Tallahassee, and plays golf with the Lady Links group. “She’s the busiest ‘retiree’ I’ve ever seen,” Glenn said. “She and I are very involved in many of our family’s activities. We all love spending time at the beach and in the mountains and we’ve taken several family vacations out west to snow ski. “The best thing about having children is the love that comes instantly at their birth, and the fullness they bring to our lives,” he said. “The best thing about having grandchildren is having a second chance to get things right! When we were raising our daughters, we were so involved with our careers that time flew by. We spent quality time with them, but now we’re so pleased to be able to spend more time with our grandsons. Outside of family vacations, Thomas said the trips he and Gwenn have taken to New York and Alaska are among their favorites. ‘We went to New York for an AICPA meeting, and we got to experience the city in a magical way,” he said. “On our Alaska vacation, we sailed on a 70-foot ship with four friends and took a tour around Baranof Island. Everything we ate that week was caught from the Alaskan waters.” Because he’s been gearing up to retire, Thomas’ only vacation so far this year was to his mountain house in North Carolina. ➡ www.ficpa.org

“We went up for New Year’s week and enjoyed hiking and playing in the snow. While I was there, I reconnected with FICPA Past President John Rowe, who now lives there,” Thomas said. Like his wife, Thomas will hardly be an idle retiree. In addition to completing several landscaping projects at home, he plans to go to Saskatchewan in late October to hunt ducks, geese, partridge and grouse. He, Gwenn and their grandson Barrett also will spend two weeks in Saratoga, Wyo. and may take a side trip to the Badlands of South Dakota.

Thomas catches a brown trout while fishing on the North Platte River in Wyoming.

Thomas thanks staff, leadership and mentors One of the highlights of Thomas’ FICPA employment was his involvement with the FICPA Health Benefit Trust (HBT). Established in November 1984 and closed in May 1997, the HBT was managed by a Board of Trustees, along with staff support. Thomas was responsible for financial projections and reporting. “It was a very interesting time,” he said, “and I learned a great deal about the health industry as I worked with our consultants and the trustees.” “As the FICPA’s chief operating officer, I had great mentors in CEOs Buddy Turman and Kathy Anderson,” Thomas said. “They always supported and encouraged me. I cannot say enough about staff and leadership, and the advice and support they’ve given me as well. I’ve also enjoyed the opportunity to travel throughout the country and network with my peers.”

Thomas hunts partridge and grouse in Saskatchewan, Canada with a gun he received as a gift from the FICPA Board of Governors.

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“I met Glenn shortly after we relocated the FICPA from Gainesville to Tallahassee, around 1980,” said retired FICPA CEO-Executive Director Buddy Turman. “One spring weekend in 1982, Glenn invited me to go fishing on Lake Monkey Business. He thought we were just monkeying around, passing the day talking, but I was conducting an interview. He caught a big bass and I landed a super employee!”

The FICPA in Review Thomas has had many experiences – challenging, funny and otherwise – with FICPA staff and leadership during the years. He shared these favorites with us. “I had the pleasure of working with Glenn for more than 20 years at the FICPA,” said former FICPA CEO-Executive Director Kathy Anderson. “His drive, dedication and determination were instrumental in keeping the FICPA technologically up to date. He also kept a careful eye on the Institute’s financial interests and helped ensure the members’ resources were invested wisely. When Glenn spoke at a meeting, people listened.” “Glenn is a great guy, a great friend and an outstanding association management professional,” said FICPA Past President Jim Lane. “I’ll always cherish the many good times we had together over the many years. My wife, Anne, and I wish Glenn the very best in retirement and many, many years of it.”

• “Years ago, management staff used to put on skits for leadership to help get points across about association management. Somewhere in the file room is a video of me dressed up like Robin Williams’ Mork from “Mork and Mindy,” standing on the conference table, delivering words of wisdom.” (Editor’s note: Luckily for Glenn, we were unable to unearth this video relic.) • “I worked with the Finance and Office Advisory Committee, architect and builder during the construction of the FICPA headquarters on College Avenue and the move from the Koger Center. It was challenging, but educational and interesting.” • “Gwenn and I attended the AICPA annual conventions and hosted the FICPA leaders and members who attended. The conventions were a great way to spend time with and get to know the leadership, and travel to some neat places.”

As a seasoned accounting and association professional, Thomas knows the FICPA faces many important challenges. He offered this insight about the direction staff and leadership should take to ensure the Institute thrives and successfully serves its members, now and in the years to come.

“The balances in our Political Action Committees (PACs) are lower than ever and contributions continue to decline. If we are to be players in the political arena, we must have well-funded PACs,” Thomas said. “During the 2013 Legislative Session, a total of 1,765 bills, resolutions, local bills and memorials were filed. We introduced six bills and are tracking 165 bills that could have some impact on the profession, good or bad. Making meaningful contributions to our legislators’ campaigns is a critical component to having a successful governmental affairs program. “Regulatory oversight, economic globalization, aging population, rapid technology changes and generational differences in the work force all are issues the profession faces,” Thomas said. “To be relevant, the FICPA must help members address these areas. We also must provide programs and services that are pertinent not only to established members, but to young professionals. There are five generations in our membership, and all approach work and life differently.” In late May, FICPA staff members and friends will wish Thomas a fond farewell in the low-key way he likes best – at an old-fashioned barbecue luncheon on the deck at the FICPA headquarters office in Tallahassee. FCT Suellen Wilkins is editor of Florida CPA Today. She can be reached at (850) 224-2727, Ext. 383, or wilkinss@ficpa.org FLORIDA CPA TODAY

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Make the Most of Your Y

ou could say we’re out to become your Mega CPA Conference co-pilot.

To make it easy to plan your bizcation with the Mega CPE Conference, here’s an overview of the education, networking and fun activities you can choose. For more information or to register, visit www.ficpa.org/MegaCPE. Register before June 4, 2013 to take advantage of the Early Bird Price.

Enjoy Disney’s Keys to the Kingdom Tour 9 a.m.-2 p.m. ($79 per person; includes lunch. Requires a Magic Kingdom Park Pass, sold separately. Limited to the first 18 registrants.) This outdoor walking tour explores the stories behind the remarkable creation and growth of the Magic Kingdom® Park. Hear Walt Disney’s intriguing story and learn how his innovative ideas, revolutionary visions, creative philosophies and amazing accomplishments brought the theme park to life.

TUESDAY, JUNE 11

Dine Around Orlando 6-9 p.m. (Guests are responsible for their transportation and dining expenses.)

Network

From five-diamond restaurants with celebrity chefs to themed dining experiences for the whole family, Orlando suits your taste palate. Wine connoisseurs won’t be disappointed. Choose a restaurant from our suggested dining list and we’ll make your reservation the easy way.

Early Bird Welcome Reception 6-7 p.m. Meet fellow conference attendees at the Early Bird Welcome Reception.

WEDNESDAY, JUNE 12 Learn Wednesday’s CPE includes the Employee Benefits Plans Conference and sessions from the State Tax Conference, plus four hours of Ethics.

Network Mega Welcome Reception 4-6 p.m. Take advantage of this opportunity to network with Mega CPE Conference speakers and attendees before heading to the Dine Around for dinner.

16 MAY/JUNE 2013

THURSDAY, JUNE 13 Learn Start your day by attending the Opening Session from Keynote Karl Ahlrichs. Take your pick of diverse breakouts throughout the day, including State Tax Conference sessions. End the day with a General Session on the importance of asking the right questions from AuditSense Instructor George Heyman, CPA, CGMA, MAS, MBA. Women who work in all industries can opt for the Women’s Leadership Summit, providing CPE and helpful, enjoyable excursions.

CPE Conference Network Meet Your Mentoring Match 3-4:30 p.m. You’ve wanted the advice of a mentor since you got out of school, but just don’t have the time to search. This event, part of the Women’s Leadership Summit, is your chance to meet the perfect mentoring match for your CPA career. Vendor Reception 5-6:30 p.m. Network with your peers and Mega’s diverse vendors as you enjoy drinks and hors d’oeuvres. Learn what products and services can help streamline your work, or provide feedback to vendors you already use.

Enjoy Golf Tournament 1-5 p.m. ($135 per person; includes box lunch) This 18-hole championship course features shimmering lakes, tropical sands, palm trees and sloping greens. Disney’s Palm Golf Course, rated 4 stars by Golf Digest, includes nine water hazards and 94 bunkers – providing plenty of challenges for novices and seasoned pros alike. Soar Above Walt Disney World® Resort Helicopter Tour 1-5 p.m. ($85 per adult; $70 per child ages 12 and under) Get your cameras ready! This tour lets you soar high above Walt Disney World® Resort; Lake Buena Vista; the Orlando World Center Resort by Marriot®; and Sea World® Adventure Parks. BASS Fishing 1:30-3:30 p.m. ($80 per person) Enjoy great freshwater catch-and-release BASS fishing with professional guides on Walt Disney World® Resort sparkling lakes. Fishing equipment and non-alcoholic beverages are available. ➡ FLORIDA CPA TODAY

Plan from the Palm of Your Hand Mega CPE This free app is available for iPhone®, iPad®, Android™ and other mobile devices. See conference details; read speaker bios; view a vendor list and exhibit map; explore with a local attraction map; connect with Twitter; and create your session agenda for easy reference. Apple® Devices: bit.ly/MegaApple Android™ Devices: bit.ly/MegaAndroid Other Devices: megaapp.ficpa.org/

My Disney Experience This free app is available for iPhone®, iPad® and Android™ devices. This official app features Walt Disney World® Resort maps; attraction wait times; FASTPASS® return times; dining menus and reservation-booking; itinerary-sharing; park schedules; and more! Apple® Devices: bit.ly/Yrt0jV Android™ Devices: bit.ly/11ox341 iPhone and iPad are registered trademarks of Apple Inc. Android is a trademark of Google Inc.

www.ficpa.org

Business Casual with Style Fashion Show and Shopping Spree 2:30-6 p.m. ($15 per person) Join us for the “Business Casual with Style Fashion Show” provided by Dillard’s. You’ll also get to shop at The Florida Mall®, the largest shopping venue in Central Florida. Dine Around Orlando 6-9 p.m. (Guests are responsible for their transportation and dining expenses.) From celebrity chef-backed, five-diamond restaurants to themed dining experiences for the whole family, Orlando suits your taste palate. Wine connoisseurs won’t be disappointed. Choose a restaurant from our suggested dining list and we’ll make your reservation the easy way.

FRIDAY, JUNE 14 Learn You won’t want to miss The Hon. David Walker’s “Comeback America!” Keynote and Opening Session in the morning, followed by an association update at the FICPA Annual Meeting. Choose four of 16 concurrent breakouts throughout the day; enjoy food for thought with the Financial Reporting Framework lunch presentation; and finish up with a General Session on fraud from featured speaker Bruce A. Nunnally, CPA and partner at Carr, Riggs & Ingram, LLC.

Network FICPA Magical Evening! 5:30-10:30 p.m. ($75 per person) Honor outgoing FICPA Chairman Scott G. Price and welcome incoming leadership with an exquisite dinner party at Epcot®. Afterward, watch the true magic unfold with the IllumiNations: Reflections of Earth fireworks, laser and water show!

Enjoy Fantasy of Flight 1-5 p.m. ($65 per adult; $45 per child ages 6-12) See rare and vintage aircraft up close and in flight from the world’s largest private collection. Experience interactive displays 18 MAY/JUNE 2013

and climb into the flight simulator. Get your heart racing with the Wing WalkAir challenge course and zip line. Kids will love the Fun with Flight center! Richard Petty Experience® 1-5 p.m. ($125 per person age 14 or older; $80 per person ages 6-13) Ride in a 600-horsepower racecar at speeds of up to 140 mph while your friends and family cheer you on from pit road! The Richard Petty Driving Experience® at Walt Disney World® Speedway is where grown-up dreams come true. Junior Ride-Alongs are available for kids (ages 6-13).

SATURDAY, JUNE 15 Learn Wake up and be productive before you head home! Choose four of eight concurrent breakouts on various topics, including one that covers social-media marketing for your business.

NEWS

briefs

In Memoriam Friend of the profession, Rep. Clay Ford, passes away It is with great sadness that we inform our members that Rep. Clay Ford Jr., 74, of Gulf Breeze passed away on March 18. “Rep. Ford’s passing is a great loss to all,” said FICPA President/CEO Deborah Curry, CPA, CGMA. “He was a wonderful man and a staunch supporter of the FICPA. We were the better for having him in our lives.” Rep. Ford sponsored FICPAsupported legislation during the 2011, 2012 and 2013 legislative sessions. He had served in the Florida House of Representatives since 2007 and previously served in the Arkansas House of Representatives in 1975 and 1976. Rep. Ford was an attorney and a member of the Arkansas and Florida bars. He had a long military career that spanned 1955 to 1988 in

Rep. Clay Ford, R-Gulf Breeze active duty, the Army Reserve and the National Guard. He retired as a colonel. A graveside service was held in Little Rock, Ark. Arrangements were handled by Rose Lawn Funeral Home of Gulf Breeze. To offer condolences, share memories or sign the guestbook, visit www.roselawn-fh.com. Condolences also may be expressed in the Pensacola News Journal guestbook at pnj.com/obits. FCT

Jeffrey Alan Bolton FICPA member Jeffrey Alan Bolton, CPA, died in a tragic swimming accident in the Bahamas on April 19. He was a co-founder, partner and Executive Committee member of Daszkal Bolton LLP. Bolton co-founded the firm in 1992 with Michael Daszkal. Bolton focused on helping business owners achieve success by increasing cash flow, expanding revenue streams, reducing expenses, protecting assets and implementing business processes. A frequent public speaker on this topic, Bolton was passionate about educating the business community. This earned him national recognition as a Pathfinder by the AICPA and as the Small Business Leader of the Year by the Greater Boca Raton Chamber of Commerce.

Jeffrey Alan Bolton, CPA Bolton was instrumental in creating several Daszkal Bolton divisions, such as Strategic Business Solutions, Benchmark Financial, White Knight and Family Office. He also turned his fascination with sports and professional athletes into a division called Game Plan. Bolton is survived by his wife, Mirka; children, Jason and Lexi; brother, Brian Bolton; and parents, Joel and Barbara Bolton. FCT

FICPA congratulates Elijah Watt Sells Award winners The FICPA congratulates Brian Krogol from the University of Florida and Veronika Krasteva from the University of Miami, who recently received the AICPA’s 2012 Elijah Watt Sells Award. “We’re thrilled that two Florida CPAs have been named as winners of this prestigious award,” said FICPA President/ CEO Deborah Curry, CPA, CGMA. “This speaks to the quality of education that Florida accounting students are receiving. Brian and Veronika are valuable members of our profession and we wish them much success in their future endeavors.” The award, which is based on candidates’ top performance on the Uniform CPA Examination, is recognized as a remarkable achievement in the CPA profession. Of the more than 92,000 candidates tested last year, only 39 received the award. Winners must receive a cumulative average score of 95.5 or higher on all four sections of the exam and pass all four sections on their first attempt. FCT 20 MAY/JUNE 2013

From FICPA staff reports

Atwater appoints FICPA member to Citizens Board Jeff Atwater, Florida’s chief financial officer, recently selected FICPA member Juan Cocuy, managing shareholder of Cocuy, Burns & Co. in Wellington, to fill a vacant seat on the Citizens Property Insurance Corp. Board of Governors. Cocuy’s term began in April and will run through July 31, 2014. With more than 1.3 million policies, Citizens is Florida’s largest property insurer. FCT

FLORIDA CPA TODAY

FAF names Vaudt GASB chair

Gov. Scott appoints Riggs for second term

The Board of Trustees of the Financial Accounting Foundation – which oversees the Governmental Accounting Standards Board (GASB) and the Financial Accounting Standards Board (FASB) – recently named Iowa Auditor of State David A. Vaudt the next chairman of GASB. The Board appointed Vaudt to a single, seven-year term effective July 1, 2013. This is a change from the practice of appointing GASB chairs to an initial five-year term with the possibility of serving a second five-year term. Vaudt will succeed GASB Chairman Robert H. Attmore, who is retiring June 30.

Gov. Rick Scott announced the reappointment of Stephen Riggs to the Board of Accountancy (BOA). Riggs, of Destin, is a partner and CPA with Carr, Riggs & Ingram. He is reappointed for a term that began March 8, 2013 and will end Oct. 31, 2016. The appointment is subject to confirmation by the Florida Senate.

FCT

The full Senate has confirmed these reappointed members of the BOA.

Cynthia Borders-Byrd of Lauderhill, term ends Oct. 31, 2015. Maria E. Caldwell of Miami, term ends Oct. 31, 2015. David L. Dennis of Longwood, term ends Oct. 31, 2014. Martin G. Fennema of Tallahassee, term ends Oct. 31, 2014. Harold Steve Vogel, Esq. of Key Biscayne, term ends Oct. 31, 2014. The FICPA congratulates these appointees. FCT

www.ficpa.org

Foreign Pensions and Florida Practitioners

Oops….

By Lawrence J. Chastang, CPA and Steve Yeager, CPA

he issue of foreign pension plans came to light for many Florida CPAs for the first time during the 2012 filing season with the new Form 8938, Statement of Specified Foreign Financial Assets. The form required U.S. taxpayers to report the value of an interest in a foreign pension plan, among other things. This often resulted in heated exchanges between clients and CPAs: “Why do they want to know?” “I have no idea what the value is!” “Why now, what’s changed?” “Do I have to pay tax on this

now?” “Should I have been paying taxes on this before?” “Why didn’t you tell me about this before?” These all are good and understandable questions, but they’re an emotional response to a complex issue. This article addresses the technical aspects of foreign pension plans and gives practitioners relevant information with which to answer clients’ questions.

FOREIGN PENSIONS Tax Implications / Filing Requirements

EXHIBIT A

Qualiﬁed Plan Under IRC §401(a)

"Private" Pension – i.e., Not an Employees' Trust **

Employees' Trust Non-Discriminatory

Employees' Trust Discriminatory and Taxpayer is Highly Compensated

WITHOUT TREATY BENEFITS: Event: Contribution - Employer Contribution - Employee Distribution Accretion

Tax-Deferred Tax-Deferred Taxable (Note A) Tax-Deferred

N/A Non-Deductible Non-Taxable Taxable

Taxable Non-Deductible Taxable (Note A) Tax-Deferred

Taxable Non-Deductible Taxable (Note A) Taxable

Filing Requirement: TD F 90-22.1 ("FBAR") 3520 / 3520-A 8621 8938

No No No Yes

Yes Yes (Note C) Yes (if applicable) Yes

No No No Yes

WITH TREATY BENEFITS: Event: Contribution - Employer Contribution - Employee Distribution Accretion

Tax-Deferred Tax-Deferred Taxable (Note A) Tax-Deferred

N/A Varies (Note B) Taxable (Note A) Varies (Note B)

Varies (Note B) Varies (Note B) Taxable (Note A) Varies (Note B)

Filing Requirement: TD F 90-22.1 ("FBAR") No Yes No 3520 / 3520-A No Yes (Note C) No 8621 No Yes (if applicable / Note C) No 8938 Yes Yes Yes Note A: Distributions are taxed under annuity rules of IRC §72 Note B: Tax treatment of event (e.g., contribution, distribution, and accretion) is dependent on specific income tax treaty Note C: Form 8891 filed in lieu of 3520 series / Form 8621 for certain Canadian plans (RRSPs and RRIFs) ** : Taxation and reporting requirements (especially when treaty benefits available) are unclear. Suggested outcomes are based on most conservative approach. 22 MAY/JUNE 2013

No No No Yes

In order not to be a reportable foreign pension plan, a plan must be a qualified plan; must not be a private pension scheme treated as a foreign grantor trust; and must not discriminate. Foreign treaties, where applicable, may have some impact on the treatment of the plan. Lastly, the characterization of the plan may impact the participant’s foreign earned-income exclusion. Is a foreign pension plan a qualified plan? Almost never. A foreign pension plan is treated as a “qualified plan” only if it meets all the qualification requirements of U.S. plans (Internal Revenue Code (IRC) §401). Typically, almost no foreign pensions satisfy the U.S. qualification requirements. The exceptions to this general rule are not limited to plans that were formed specifically with U.S. citizens/residents in mind (e.g. certain multi-national corporations). It is unlikely that a foreign pension plan, organized in a country where the U.S. participant received employer contributions, will be treated for U.S. tax purposes just like a U.S. pension plan organized by a U.S. employer. What are private pension schemes? CPAs now are confronting a related issue often referred to as private pension plans or schemes (using the U.K. vernacular). Whether a foreign pension is classified as a foreign grantor trust (private pension plan) or a nonexempt employee trust taxed under IRC §402(b) is not always clear. Certain foreign pension schemes clearly fall into one category or the other, while the proper classification often is difficult to determine. The IRC does not specifically define the term “employee trust.” However, it’s clear from the language in IRC §401 and IRC §402 the term “employee trust” is intended to include employers’ stock-bonus, pension or profit-sharing plans for the exclusive benefit of the subject company’s employees. So, a foreign pension plan structured as a defined-benefit plan or a defined-contribution plan (where the employer makes all or most of the plan contributions, and where a third-party trustee administers the plan) clearly would be classified as an “employees’ trust” and would not be classified as a foreign grantor trust for U.S tax purposes. Alternatively, foreign pension schemes similar to domestic individual retirement accounts (e.g. Canadian RRSPs and RRIF, U.K. Individual Savings Accounts and certain Australian superannuation funds) consisting of elective deferrals and controlled by individual contributors almost certainly would be classified as foreign grantor trusts, absent any favorable treaty benefits or elections available to modify the classification (e.g. IRS Form 8891 for Canadian RRSPs and RRIFs). The foreign grantor trusts then FLORIDA CPA TODAY

would, of course, be subject to reporting on Forms 3520/3520A and Foreign Bank Report (TDF 90-22.1). Is the foreign pension plan discriminatory? Is the taxpayer highly compensated? The U.S. IRC does not provide for different treatment of foreign pension plans, so one has to look to domestic regulations for guidance. The results often are unfortunate and likely unintended by Congress. Here are two examples. A plan is considered discriminatory if it fails to meet the minimum participation/coverage tests under IRC §401(1) (26) and IRC §410(b) (1). When conducting these tests, certain employees are excluded from consideration, even though they participate in and benefit from the plan. Excluded employees include non-resident aliens who have no U.S. source earned income from the employer. As a result, the number of employees considered for testing purposes of a foreign pension plan may be very small, and may be limited to the U.S. taxpayer the practitioner represents. As a result, if the taxpayer is highly compensated, the plan is discriminatory. Generally, a plan participant is treated as highly compensated if: 1) the employee was a five percent owner at any time during the year, or 2) the employee had compensation in excess of $80,000 (currently $110,000 for 2012) for the year, absent a special election by the employer known as the “top-paid group election.” Pursuant to IRC §414(q)(8), non-resident alien employees without U.S. source ➡

earned income from the employer are not treated as employees for purposes of IRC §414(q). As a result, it is almost certain that a U.S. citizen or resident alien participating in a foreign pension plan, and who had compensation in excess of $110,000 in 2012, will be classified as a highly compensated employee. This is because the foreign employer likely is not aware of the “top-paid group election.” Because all non-resident alien workers would be excluded from the testing pool, only the U.S. citizens would be treated as plan participants. So it is reasonable to conclude that, based on the available authority, a U.S. person who earned more than $110,000 in 2012 was participating in a discriminatory plan. How is foreign pension income taxed if the plan is not discriminatory, or if the plan is discriminatory, but the taxpayer is not highly compensated? • Contributions: Assuming the taxpayer is fully vested, the amount contributed to the plan is included in the gross income for U.S. income tax purposes (IRC §402(b)(1)). • Plan earnings/accretion: Plan earnings are not taxed until they are distributed or made available to the taxpayer (IRC §402(b)(2)). • Distributions: Distributions are taxed in the year

24 MAY/JUNE 2013

distributed or made available to the taxpayer in accordance with the rules for taxation of annuities (IRC §72). How is foreign pension income taxed if the plan is discriminatory and the taxpayer is highly compensated? • Contributions: Assuming the taxpayer is fully vested, the amount contributed to the plan is included in gross income to the extent the contributions are included in the taxpayer’s vested accrued benefit (IRC §402(b)(4)(A)). • Plan earnings/accretion: Assuming the taxpayer is fully vested, the current earnings effectively are included in the taxable income because they would factor into the taxpayer’s vested accrued benefit. • Distributions: Distributions are taxable in the year distributed or made available to the taxpayer in accordance with the rules for taxation of annuities (IRC §72). Will an income-tax treaty save me from this madness? A few may. A limited number of income-tax treaties contain favorable provisions with respect to pension plan taxation. Generally, such provisions are available to U.S. citizens/ residents under exceptions to the savings clause of the applicable treaty. Here is a summary of the various treaty provisions: • Almost all treaties contain a provision that limits the ability to tax pension distributions to the country where the taxpayer is resident. • A few treaties contain provisions that defer taxation of pension earnings until distributions are paid to, or for the benefit of, the participant. These treaties contain such provisions: Belgium Iceland Bulgaria Malta Canada Netherlands Germany United Kingdom Hungary (proposed) • These treaties contain provisions that allow U.S. citizens/residents making contributions to pension plans organized in these countries to deduct the contributions for U.S. tax purposes while resident in these countries, working for resident employers with permanent establishments in the countries. These treaties contain such provisions: Belgium Netherlands Canada United Kingdom Germany • Another group of treaties contain provisions that allow a person participating in a “home” country pension plan to contribute to such a plan and

FOREIGN PENSIONS DECISION TREE – FOREIGN PENSION OF A U.S. CITIZEN/RESIDENT DOES THE CLIENT HAVE A FOREIGN PENSION?

NO FURTHER ACTION REQUIRED

Yes IS THE PENSION A "QUALIFIED PLAN" UNDER 401(a)?

SEE EXHIBIT A FOR TAX IMPLICATIONS / FILING REQUIREMENTS

Yes

No SEE EXHIBIT A FOR TAX IMPLICATIONS / FILING REQUIREMENTS

IS THE PENSION AN "EMPLOYEES' TRUST" ?

IS THE PENSION DISCRIMINATORY?

Yes

Yes IS THE PARTICIPANT "HIGHLY COMPENSATED"?

➡

No SEE EXHIBIT A FOR TAX IMPLICATIONS / FILING REQUIREMENTS

claim a tax deduction in the other country while performing services in the other country. This provision generally is limited to use by resident aliens who are not permanent residents. These treaties contain such provisions: Canada South Africa France Sweden Ireland United Kingdom Italy The most common treaty benefit applicable generally is the ability to defer income on plan earnings (accretions) until distribution. One final twist Interaction with Foreign Earned Income Exclusion (IRC §911) Employer contributions to a non-qualified employee trust are excluded from the definition of foreign earned income for purposes of calculating the foreign earned income exclusion. Absent favorable treaty ➡ Pg. 27 FLORIDA CPA TODAY

Yes SEE EXHIBIT A FOR TAX IMPLICATIONS / FILING REQUIREMENTS

OFFICIAL NOTICE

FICPA EDUCATIONAL FOUNDATION ANNUAL MEETING In compliance with Article II, Section 4 of the Bylaws of the Florida Institute of Certified Public Accountants Educational Foundation, be it known that the Annual Meeting of the Members and Board of Trustees will be held on Tuesday, June 11, 2013 at Disney’s Contemporary Resort in Lake Buena Vista, Florida immediately following the FICPA Educational Foundation Board of Trustees’ Meeting. www.ficpa.org

D O R update By Mark Zych, director, office of technical assistance and dispute resolution

indirectly bear the cost of the tax, either by reimbursing the contractor or paying an increased contract price. Materials for public works projects can be purchased tax exempt as long as these procedures are followed: 1) Direct purchase order. The governmental entity must issue its purchase order directly to the vendor supplying the materials the contractor will use, and must provide the vendor with a copy of the governmental entity’s Florida Consumer’s Certificate of Exemption. 2) Direct invoice. The vendor’s invoice must be issued to the governmental entity, rather than to the contractor.

Building Materials for Public Projects

Statutes Clarify Sales-tax Exemptions

here is some confusion about whether purchases by contractors or governmental entities of building materials for public-works projects are exempt from sales and use tax. The exemption for governmental entities is found in Section 212.08(6), Florida Statutes (F.S.). It provides that the exemption is allowed only “when payment is made directly to the dealer by the governmental entity.” It also states that a “determination of whether a particular transaction is properly characterized as an exempt sale to a government entity or a taxable sale to a contractor shall be based upon the substance of the transaction rather than the form in which the transaction is cast.” The exemption requires a direct payment by a governmental unit to the seller of the materials.

3) Direct payment. The governmental entity must directly pay, from public funds, the vendor supplying the materials. 4) Passage of title. The governmental entity must take title to the tangible personal property from the vendor at the time of purchase or vendor delivery. 5) Assumption of the risk of loss. Assumption of the risk of damage or loss by the governmental entity at the time of purchase is an important consideration. A governmental entity will be deemed to have assumed the risk of loss if it bears the economic burden of obtaining insurance covering damage or loss, or directly enjoys the economic benefit of the proceeds of such insurance. Section 212. 08(6), F.S. also requires governmental entities (excluding the federal government) to issue a Certificate of Entitlement to each vendor and contractor in order to purchase tax-exempt supplies and materials for use in public-works contracts. FCT

Contractors are required to pay tax on all materials and taxable services they purchase for incorporation into a public facility under a public-works contract. Contractors cannot purchase tax-exempt materials – regardless of the contractor’s intended use of the materials or the fact that a governmental client will 26 MAY/JUNE 2013

For more information, contact DOR’s office of technical assistance and dispute resolution at (850) 617-8346 or read DOR’s recent Taxpayer Information Publication about this issue at dor.myflorida.com/dor/tips/ tip13a01-01.html.

Continued from pg. 25

benefits, employer contributions are included in the taxpayer’s taxable income for U.S. income-tax purposes. Alternatively, elective amounts (i.e. amounts contributed at the employee’s discretion) withheld from an employee’s wages and contributed to a non-qualified employee’s trust are includible in taxable income for U.S. tax purposes. They also are included in foreign earned income for purpose of the foreign earnedincome exclusion (IRC §911 (b)(1) (B)(iii) and PMTA 2007-000173 re: Singapore Central Provident Fund). With the introduction of Form 8938, Statement of Specified Foreign Financial Assets, the IRS brought the issue of U.S. citizen participation in foreign pension plans into the spotlight. Unfortunately, the guidance on this very complex subject is severely lacking. The U.S. government needs to issue new guidance to keep taxpayers and practitioners from unwittingly falling afoul of the requirements and potentially being exposed to draconian penalties that now prevail in the underreporting of foreign assets and investments, not to mention income. FCT

Think BIG Fun On top of all the CPE, Mega 2013 introduces dozens of fun Walt Disney World® area excursions and a new way to register. Make it YOURS – customize your agenda and plan the ultimate bizcation!

Lawrence J. Chastang, CPA is the managing partner of international services for CliftonLarsonAllen and is based in Orlando. He specializes in international taxation, assisting a variety of clients ranging from small entrepreneurs to major multi-national subsidiaries with their individual and corporate work. Steve Yeager, CPA is a tax Partner in the Orlando office of CliftonLarsonAllen. He specializes in international tax services and consultation to corporations, partnerships, trusts, estates and individuals. Yeager also provides federal (domestic) tax and consulting services to a large number of closely-held business and their owners. FLORIDA CPA TODAY

www.ficpa.org

COVER

story

CPA Legislators Take the Photos provided by the Florida House of Representatives

By Rivers Buford, director of governmental affairs and Justin Thames, governmental affairs manager

Rep. Michael Bileca, R-Miami

Rep. Dan Raulerson, R-Plant City

n March 5, the opening day of the 2013 Legislative Session, the desks of the Florida House and Senate were adorned with ceremonial flowers – and 54 new legislators were ready for action. Upon the opening gavel of the Florida House, three FICPA members made history as they began their service as Florida representatives – and the first CPA caucus. Reps. Michael Bileca, R-Miami; Dan Raulerson, R-Plant City; and David Richardson, D-Miami Beach made their mark during the 2013 Session, bringing the skills of their profession to their duties as legislators. Rep. Bileca tackled the arduous role of chairing the House Choice and Innovation Subcommittee, dealing with policy decisions affecting early learning, charter schools, virtual instructional programs and pre K-12 issues. Rep. Raulerson was selected as a freshman legislator to serve in a leadership role as a House majority deputy whip. He also served on the House Finance and Tax Subcommittee; the House Regulated Affairs Committee; and three other House Subcommittees, including the Joint Legislative Audit Committee. Rep. Richardson served on the House

28 MAY/JUNE 2013

Rep. David Richardson, D-Miami Beach

Finance and Tax Subcommittee; two appropriations subcommittees; and three other committees, including the House Select Committee on Gaming. “I know my selection was directly tied to my business experience, and to having been a licensed CPA for 30 years,” Richardson said. “We need to motivate others in our profession to pursue public office and add their voice to the discussion. Having three CPAs in the Legislature makes a difference.” House Speaker Will Weatherford also asked all three CPA-legislators to serve during the budget negotiation process between the House and the Senate on Budget Conference committees. Bileca served on the Education Budget Conference Committee; Raulerson on the Finance and Tax Budget Conference Committee; and Richardson on the Health and Human Services Budget Conference Committee. Legislature remembers a champion And achieves a new Florida standard Before heading into the last two chaotic weeks of Session, the House of Representatives paused to honor a champion

Lead in 2013 of CPAs, Rep. Clay Ford, R-Gulf Breeze (see In Memoriam on page 20). In Rep. Ford’s memory, the House amended sections of Senate Bill 328/ House Bill 39 to rename the Certified Public Accountant Education Minority Assistance Program to the Clay Ford Scholarship Program. Sen. Jack Latvala, R-Clearwater, and Rep. Ford sponsored the legislation, which provides the Florida Board of Accountancy (BOA) with the authority to award monetary assistance to additional accounting students. The legislation also mandates that all accounting firms providing audits participate in a peer review program as a requirement of firm licensure. The peer review provision in the bill will go into effect Jan. 1, 2015. On Rep. Ford’s passing, Rep. Raulerson undertook the responsibility of carrying the legislation through the House of Representatives. He worked closely with Sen. Latvala to ensure it was passed and sent to Gov. Rick Scott to be signed into law. “I was honored to work with Rep. Ford and Sen. Latvala on this important legislation,” Raulerson said. “CPAs have a special relationship with the public. As trusted advisors, we must maintain a level of integrity that is unsurpassed. Peer review continues to ensure just that.” Both bills passed all committees of reference without opposition and were supported by 14 co-sponsors. The Senate passed SB328 by a unanimous vote of 38 yeas, and the House passed HB39 by a unanimous 116 yeas. The passage of the legislation marked a milestone for the certified public accounting profession as Florida joins the 48 other states that already have similar requirements. The BOA and the FICPA supported this legislation. “I applaud the Legislature for recognizing the importance of this program,” said FICPA President/CEO Deborah Curry, CPA, CGMA. “The peer review process is designed to protect the public by ensuring that the quality of auditing services provided by Florida CPAs continues to be held to the highest professional standards.” Although the peer review provision doesn’t take effect until Jan. 1, 2015, the rest of the bill will take effect July 1, 2013. ➡ FLORIDA CPA TODAY

During the 2013 Legislative Session, the FICPA was represented by its Governmental Affairs Department and contract lobbying team, led by FICPA President/CEO Deborah Curry, CPA, CGMA. “The FICPA and the CPA profession are fortunate to have a top-notch team advocating on our behalf at the Capitol. With their continued involvement, we look forward to many more years of success.” – FICPA Board Chair Scott Price Deborah L. Curry, CPA, CGMA President/CEO Florida Institute of CPAs Justin Thames Governmental Affairs Manager Florida Institute of CPAs Ken Plante President & Owner Governmental Solutions, LLC

Jennifer J. Green, CAE, DPL President & Owner Liberty Partners of Tallahassee, LLC Thomas C. Hobbs Consultant Liberty Partners of Tallahassee, LLC

Melanie Shanks Bostick Vice President Liberty Partners of Tallahassee, LLC

www.ficpa.org

COVER

story

Gov. Scott, Legislature look for common fiscal ground From the onset of the 2013 Legislative Session, Gov. Scott and the leaders of the Florida Legislature presented two visions for the state’s future. The 60-day exercise would decide how close they would come to finding common ground, and sets the stage for the next 500 years of Florida history. In his State of the State Address, Gov. Scott outlined his priorities in Florida Families First, his 2013-2014 Budget recommendations. Scott’s plan increased education funding, reduced business taxes, and introduced costsaving measures in health care. “Here in Florida, our work to reduce spending and cut taxes – along with making critical investments in priorities, like education – is working,” Scott said while addressing the joint meeting of the House and Senate on March 5. “I believe Florida will be the No. 1 place in the world for job creation; the No. 1 place in the world to get

30 MAY/JUNE 2013

a great education; and the No. 1 place in the world where families can afford to live.” In their Work Plan Florida legislative agenda, Senate President Don Gaetz and House Speaker Will Weatherford vowed to tackle some of the challenging issues Florida faces. Ethics and campaign finance reform; Florida’s public-sector pension plans, higher-education system and election laws; and the Federal Governments Affordable Care Act all were considered during the 60-day Session. Both chambers deliberated the issues outlined in the plan and incorporated their recommendations in the final budget presented to Gov. Scott. When this issue was printed, Gov. Scott had not accepted the Legislature’s proposed budget. To view the Legislature’s budget, visit floridafiscalportal.state.fl.us/. Senate confirms BOA appointees Budget includes BOA provisions During the 2012 Legislative Session, the Florida Senate did not confirm hundreds of Gov. Rick Scott’s appointments

to state agencies and local governing boards. Among

■

them were five BOA members whom Scott appointed to their first term or reappointed to a second term. In one of its earliest actions during the 2013 Session, the full Senate unanimously confirmed those BOA members (see the News Brief on page 21). As part of the FICPA’s efforts on the BOA’s behalf, the Institute supported provisions included in the 2013-2014 Budget. When this issue was printed, the budget had not been finalized. Issues being negotiated include these BOA appropriations: o Seven additional full-time BOA employees to answer technical questions and counsel practitioners on BOA issues o An additional $539,564 to pay for: ■

staffing increases.

■

increases to the Minority Scholarship program.

FLORIDA CPA TODAY

■

an increase in the unlicensed activity campaign. a travel budget for education for BOA members.

The Minority Scholarship program was created with the FICPA’s assistance in 1998 to aid fifth-year accounting students. It has provided 204 students with $1,080,000 in scholarships. The House of Representatives is considering proviso language charging the BOA with evaluating the administrative performance of the Florida Department of Business & Professional Regulation (DBPR). The language may require surveying the licensees under the BOA’s purview about the services DBPR provides. FCT For wrap-up information on the 2013 Legislative Session, see upcoming issues of NewsFlash or visit www.ficpa.org/ Content/GovernmentalAffairs/LegUpdates.aspx. Or, contact Governmental Affairs staff at (850) 224-2727, Ext. 202, or govaffairs@ficpa.org.

www.ficpa.org

STAFF

reports

Educational Foundation By Jason Zaborske, FICPA educational foundation development director and Brittany Butler, event coordinator

Giving Has Never Been So Relaxing Join us for the Ocean Reef Retreat that is home to five-star accommodations. And it’s just a 45-minute drive from Miami – an easy escape for South Florida FICPA members!

The Ocean Reef Club in Key Largo has a spa and fitness center; numerous restaurants and bars; a marina; and pools for children and adults. New for 2013 retreat are a “dive-in” movie, kayaking and a bike tour.

he FICPA Educational Foundation invites you to spend July 25-28 in Key Largo for the Fifth Annual Family Retreat at Ocean Reef. This casual event features a golf tournament, cocktail parties and a moonlight beach luau. The goals are to promote the CPA profession, increase awareness of and support for the Foundation, and bring CPAs and their families together. Located in one of the most natural settings in the U.S., the Ocean Reef Club is a 2,500 acre private-equity resort 32 MAY/JUNE 2013

Ocean Reef also boasts a spa and fitness center; numerous restaurants and bars; a marina; pools for children and adults; and many other activities we can help coordinate for you and your family. New for 2013 are plans for a “dive-in” movie, kayaking and a bike tour. At $155 per night, this is a deal you don’t want to pass up! This year’s retreat includes a reception for incoming FICPA Board Chairman Kenneth Strauss and a dinner with George Gulisano, 2013-14 president of the FICPA Educational Foundation, and a special keynote speaker. FCT For more information, contact FICPA Educational Foundation Development Director Jason Zaborske at (850) 251-7274 or edfound@ficpa.org, or visit www.ficpa.org/oceanreef.

From FICPA staff reports

New Members

Friday, May 17 and Friday, Oct. 25, 2013 Wear your jeans and help out a good cause. Any Florida accounting firm can celebrate “Jeans for Scholarships” by scheduling a casual jeans day! Suggested contributions are $5 and $10 for individuals and can be matched by the organization, institution or firm. Proceeds go to the FICPA Educational Foundation to help provide scholarships to deserving accounting students. Firms that become official “Scholarship Wranglers” are listed as official sponsors on the FICPA website. Visit www.ficpa.org/jeans to learn more about how you can help raise funds for scholarships and have a little fun, or contact Jason Zaborske at edfound@ficpa.org, or call (800) 342-3197, Ext. 417.

FLORIDA CPA TODAY

The FICPA happily welcomes many new members throughout the year. To see a list of members who have recently joined, visit the FICPA website at www.ficpa.org/ meetnewmembers.

www.ficpa.org

MARKET

place

Positions available Are you ready? Tallahassee CPA/PFS specializing in tax & accounting seeks entrepreneurial audit partner w/own book & ready for the next step in their career. All replies kept confidential & will be responded to. Reply to Reply@ficpa and reference B PA 05 06 13. Ownership opportunity – Central Florida firm with revenue of $1.5 million seeking a talented individual to join our succession team. Ideal candidates will have an entrepreneurial spirit, along with strong client-management, tax, accounting and business-consulting skills. This is an outstanding opportunity for the right person. Replies will be held in strict confidence. Reply to reply@ficpa.org and reference file number C PA 05 06 13. Senior accountant – West Palm Beach CPA firm seeking CPA or candidate w/ 2+ yrs of public accounting exp. Candidate must have a solid work ethic w/ability to learn quickly & work independently in assisting w/SEC audit clients; business consulting; research; & federal, state & local tax services. Pay commensurate w/ exp. To apply, email resume to hrpacpa@ gmail.com. Tax & small business principal – Maitland CPA firm seeks principal w/small client base for ownership possibility. Provide tax review of returns as well as preparation & tax planning. Excellent fringe benefits & working conditions. Please mail, fax or email resume to Taylor, Lombardi, Hall & Wydra, PA, Attn: Van Taylor, 875 Concourse Parkway S., Suite #100, Maitland, FL 32751. Fax (407) 539-2383. Email vtaylor@tlh-cpa.com.

Global Miami-based aviation related company seeks sr. accountant, CPA; min 4 years of related professional experience; perform monthly close processes including JEs & complex reconciliations; prepare financial reporting packages; ensure financial records are maintained in compliance w/internal controls & GAAP; accounting support for internal & external audits, including preparation & review of audit schedules & technical research as required; actively participate in process-improvement initiatives; exceptional critical thinking & quantitative & qualitative analytical skills w/the ability to use logic & reasoning to identify the strengths & weaknesses of alternative solutions, conclusions or approaches to problems. Salary commensurate w/experience. Please submit résumé to lreiss@ harvardpersonnel.com.

Positions Wanted Experienced CPA seeks senior tax manager position in CPA firm or private industry in Tampa, St. Pete or Clearwater. Reply to SnrTxMgr@aol.com.

Growing S. Florida CPA firm looking to purchase a practice from a retirement-minded CPA in Dade County. Favorable purchase terms offered w/ continuing employment opportunities available. Please contact Jeffrey Taraboulos at info@ksdt-cpa.com or (305) 670-3370. I am looking to purchase an accounting practice grossing between $75,000$400,000 in S. Florida. I have owned my own practice for 30 yrs & I am well versed in all aspects of running a practice. I am looking for the owner to stay on if they would like to. I am very flexible & understanding. FLCPA2012@ aol.com. CPA w/strong tax background wishes to purchase or buy-in/buy-out quality transferrable CPA tax/accounting practice in N. Pinellas, S.W. Pasco, Tampa or St. Pete. Reply to cpa7taxprt@gmail.com.

For sale

Office space Quality Fort Lauderdale CPA firm seeking CPA w/established or growing practice for office sharing w/eye toward future affiliation. Email inquiries to ajcpapa@aol. com or call Cary at (954) 985-1040.

Practices wanted for purchase or merger CPA looks to purchase tax through review practice in S. Florida. Revenue $150,000 to $1,000,000. Reply to info@ joegormleycpa.com.

Successful transitions require experienced, confidential, professional services you can trust. This is what Akins Professional Brokerage provides. Specializing exclusively in the brokerage of CPA firms, we have no upfront fees. List your firm w/a professional. Call David Akins, CPA at (877) 2770272. Visit our website at www. ProfessionalCPAbroker.com.

For complete classified policies, visit www.ficpa.org/Content/CPAResources/ClassifiedsJobs/Classifieds.aspx.

34 MAY/JUNE 2013

Bradenton $350,000; Orlando-Jacksonville East Coast area $1,600,000; St. Pete grossing $185,000+; Tampa-Zephyrhills area $150,000+; GainesvilleBuy-Sell-Merge-Finance

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FLORIDA CPA TODAY

FICPA OFFICIAL NOTICE In compliance with Article III of the FICPA Bylaws, be it known that the Annual Meeting of the Members and Board of Governors will be held at 9:30 a.m., on Friday, June 14, 2013 at Disney’s Contemporary Resort, Orlando, Florida.

www.ficpa.org

ON THE

move Transitions

Jennifer Glassmoyer

David Higgins

Birmingham, Ala.: Warren Averett LLC recently was ranked as the largest accounting, tax and business consulting firm in the four-state Gulf Coast region comprised of Alabama, Florida, Louisiana and Mississippi by Accounting Today. Clearwater: CBIZ Kirkland, Russ, Murphy & Tapp announces the hiring of Judy Lewis, tax senior associate; Renee Campbell, tax intern; and Tim Groth and John Lazarz, assurance interns. Coral Gables: Cherry Bekaert LLP announces the promotion of Marisol Torres-Gomez to audit partner.

Jack Pohlman

Fort Myers: Hughes, Snell & Co. PA announces that David Higgins has joined the firm. Fort Myers: Wiltshire, Whitley, Richardson & English PA announces that Jack Pohlman has been named partner/ shareholder and that Brad Shipley has been promoted to the position of tax manager.

Miami: Berkowitz Pollack Brant announces the addition of J. Stephen Nouss as chief consulting officer.

Brad Shipley

Pensacola: Bloomer, Geri & Company announces the promotion of Stephen K. Schickel to accounting manager. Sarasota: Kerkering, Barberio & Co. announces that Ashley Salter has been promoted from senior accountant to supervisor.

Dorothy Tucker

Gainesville: James Moore unveiled an updated logo and has launched a new website at www.jmco.com. Jacksonville Beach: Swindell, Bohn, Durden & Phillips announces the promotions of the following to partner â&#x20AC;&#x201C; Kevin Rhoad as director of taxation and Travis Wilson as director of accounting and auditing. Ocala: CPA firms Russell C. Lindsay, CPA, PA and Susan Crabb & Associates PA announce the merger of their organizations to form Lindsay, Crabb & Associates PLLC.

St. Petersburg: Gregory, Sharer & Stuart, PA (GSS) is the newest member of the McGladrey Alliance. Their membership is not an acquisition or a merger. GSS remains an independently owned and managed firm. Stuart: Seacoast National Bank has announced the appointment of Josh Harris as vice president, specialty finance manager. Tallahassee: James Moore announces that Kevin Warren has been promoted to senior manager. Tampa: Warren Averett Pender Newkirk announces that Dorothy Tucker has been named member of the firm.

Lori Sampson-Wilson For more news about members and other Florida CPAs, visit CPAs in the Spotlight at www.ficpa.org/Content/News/Spotlight.aspx. The space for Whoâ&#x20AC;&#x2122;s News, Transitions and other announcements published on this page is limited to news focusing on promotions and new hires for FICPA members; speeches by members at professional conferences; and other firm news, such as recognition of business achievements. We do not publish FICPA committee appointments as a part of this feature because of space limitations. Submissions for On the Move can be emailed to communications@ficpa.org. 36 MAY/JUNE 2013

Winter Haven: Adamson + Co. announces that Christopher M. Davis has joined the firm as a manager in the accounting and auditing department, and Beverly MacDerment has been promoted to senior accountant.

Who’s News John Arnold of James Moore in Tallahassee and Ryan McIntosh of James Moore in Gainesville have earned the designation of Certified Public Accountant. Gov. Rick Scott announced the appointment of David Batten of BMJ, CPA, PLC in Ormond Beach to the Early Learning Coalition of Volusia and Flagler Counties. Christopher, Smith, Leonard, Bristow, Stanell, PA (CS&L) recently was named one of the “Best Places to Work in Tampa Bay” in 2013 by the Tampa Bay Business Journal. This is the fifth consecutive year the firm has been recognized for its commitment to foster an atmosphere focused on growth and success for its employees.

James Moore announces that Jennifer Forrester and Trey Long of the firm’s Gainesville office presented to students at the University of Florida Fisher School of Accounting to address Lean Six Sigma methodology and the firm’s experience serving innovation companies. Ron Mason from the Tallahassee office presented “BP Oil Spill: Expecting a Financial Recovery Amidst the Spillage” for nonprofit organizations in the Tallahassee area hosted by Strategic Nonprofit Alliance Partnership. And, the firm is one of 92 companies selected by Microsoft® to be a member of the BusinessCritical SharePoint partner program. Jennifer Glassmoyer of Kerkering, Barberio & Co. in Sarasota completed all the requirements for Intacct Accountant Partner certification. Dan Johnson of CBIZ Kirkland, Russ, Murphy & Tapp and Mayer Hoffman McCann PC in Clearwater has been named to the Board of the Florida Division of the American Cancer Society. He also has been asked

to serve as an advisory member of the National Audit Committee for the American Cancer Society. Robert Lane of Kerkering, Barberio & Co. in Sarasota recently completed an intense, comprehensive professional training program, BEI Boot Camp for Advisors™, in Denver, Colo. Debie Leonard of Thomas Howell Ferguson in Tallahassee was one of 25 women who were honored during Women’s History Month in March. The honorees were the focus of a celebration that recognized their achievements and civic service. Markham Norton Mosteller Wright & Company PA in Fort Myers recently announced the implementation of a workplace wellness program. The firm teamed with Lee Memorial Health System for a 90-day health challenge. Rep. Patrick Murphy, D-Fla., became the youngest member of the 113th Congress at age 29. Before becoming a member of the 113th Congress, Murphy served as vice president of

Coastal Environmental Services at Coastal Construction Group. Myers, Brettholtz & Company PA in Fort Myers announces a new, $25,000 award for local nonprofits – the Uniting Nonprofits In Teaming for Excellence (Unite) Award. Information will be available at www. mbcopa.com, www. floridacommunity.com and www.unitedwaylee. org. Lori Sampson-Wilson of Myers, Brettholtz & Company PA in Fort Myers recently addressed more than 30 association board members at the Community Associations of Fort Myers Beach (CAFMB). SampsonWilson spoke to CAFMB members about hot topics in accounting for associations, including loans; collections; insurance costs; negotiations; and FDIC Transaction Account Guaranty Program expiration. Eric Santa Maria of Paul A. Garcia PA in Coral Gables recently received the AICPA’s Accredited in Business Valuations (ABV) credential. FCT

Joe Echevarria of Deloitte LLP CEO in Washington, D.C. was named to Accounting Today’s 2012 “Top 100 Most Influential People in Accounting” list. This is the second consecutive year that the firm has been on the list. FLORIDA CPA TODAY

www.ficpa.org

CPE Attendees Choose Outstanding Discussion Leaders Knowledge, and the ability to present it clearly and concisely, are the trademarks of excellent teachers. The same holds true for those who develop and present CPE seminars. Course material often is technical and requires a keen ability to communicate difficult concepts verbally and in writing. Continuing a tradition of recognizing excellence among the presenters of FICPA CPE seminars, the Institute congratulates those who received evaluation scores of 4.5 (or higher) out of 5 for knowledge, and 4.0 (or higher) out of 5 for their presentation skills. Course participants evaluate the presenters and the FICPA tabulates those scores after the CPE year is completed. Here are the highest scorers for 2012.

DISCUSSION LEADER OF THE YEAR

From FICPA staff reports

Joseph C. Moffa Moffa, Gainor & Sutton, PA Fort Lauderdale

2012 Outstanding Discussion Leaders William Blend Moore Stephens Lovelace, PA, Winter Park

Bonnie L. Mackey Levin, Silvey, Zelko & Mackey, PA, Hollywood

Ilona J. Borish Warren Averett, LLC, Pensacola

Steven S. Oscher Oscher Consulting, PA, Tampa

Michael Rosenberg Packman, Neuwahl & Rosenberg, PA, Coral Gables

Gary A. Fracassi Fracassi & Associates, Orlando

Cecil “Pat” Patterson Jr. Patterson CPA Group Inc., Ponte Vedra Beach

Martin L. Scheckner Scheckner & Hetenyi, PL, Palmetto Bay

Dominic C. Pino Southwest Ranches

Leslie A. Share Packman, Neuwahl & Rosenberg, PA, Coral Gables

J. Edward Grossman J. Edward Grossman, CPA, Lakeland Marshall D. Gunn Jr. GunnChamberlain, PL, Jacksonville Michael S. Kridel Daszkal Bolton LLP, Boca Raton

Ralph J. Poe Lutz

Thomas F. Reilly Holland & Reilly, CPAs, Orlando

F. Larry Shrewsbury Larry Shrewsbury, CPA, Land O’ Lakes F. Gordon Spoor Spoor & Associates, PA, St. Petersburg Kenneth J. Strauss Berkowitz Pollack Brant Advisors and Accountants, LLP, Fort Lauderdale Irving Uncyk Irving Uncyk, CPA, PA, Pembroke Pines

38 MAY/JUNE 2013

FLORIDA CPA TODAY

www.ficpa.org

F L O R I D A

Florida Institute of Certified Public Accountants P.O. Box 5437 Tallahassee, FL 32314-5437

Membership Saves …

i i iSaved i i Learned

Renewed

Served

Supported

FICPA Membership saves you money on CPE… • Up to $250 on conferences • Up to $125 on seminars • Up to $85 on webcasts • Up to $25 on self-study And hundreds more on: • Discounted insurance rates on life, health, auto, professional liability and long-term care • Retirement plans through CPA Pension Alliance for FICPA member firms • Preferred Savings Programs with Office Depot, UPS and many more What will you do with your savings? Renew online starting May 10, 2013. Not a member? Join now to reap the savings until June 30, 2014. To learn more about the benefits of an FICPA Membership, visit www.ficpa.org/Benefits