MACPA Statement // January 2016

STATEMENT MACPA’S

J A N U A RY 2 0 1 6

MACPA playing offense AND defense as legislative session approaches Page 6

ALSO INSIDE MACPA’s own Kimberly Ellison-Taylor takes reins as AICPA vice chair Page 14

AICPA proposes expanding its joint venture with CIMA Page 12 Proposed bill to take aim at fraudulent taxpayers Page 30

Maryland Association of Certified Public Accountants, Inc.

You’ve built your business by serving your clients’ best interests.

So have we.

Our commercial clients know the value of doing business with BB&T. We keep decision-making authority on the local level, with a deep understanding of the needs and nuances of the communities we serve. At BB&T, we will continue to build new relationships just as we have since 1872 – by creating long-lasting partnerships that extend beyond deals and transactions.

Experience the difference when one of the strongest and most respected banks in the nation is also part of your community. BBT.com

B A N K I N G

.

I N S U R A N C E

.

I N V E S T M E N T S

Member FDIC. Only deposit products are FDIC insured. © 2015, Branch Banking and Trust Company. All rights reserved.

CONTENTS JANUARY 2016 | Maryland Association of Certified Public Accountants, Inc.

CHAIR’S COLUMN . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 FEATURES MACPA playing offense and defense as legislative session approach . . . . . . . . . . . . . . . . 6 AICPA proposes expanding its joint venture with CIMA. . . . . . . . . . . . . . . . . . . . . . . . . . .12 Proposed bill to take aim at fraudulent taxpayers. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. 30

DEPARTMENTS News & Views . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12 Financial Planning . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16 Tax Corner . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 35 NYPN . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 38 Member Services . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 40

MEMBER NOTES . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 42 CLASSIFIEDS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 44 UPCOMING EVENTS & COURSES. . . . . . . . . . . . . . . . . . . . . . . . . . 46

ADMINISTRATION Becky Conley becky@macpa.org

Debbie Zizwarek debbie@macpa.org

Dee Sullivan dee@macpa.org

Kelly Jennings, CPA Brien Poffenberger

TECHNICAL SERVICES

Amy Stumme amy@macpa.org

Emily Trott emily@macpa.org

Cora Edwards cora@macpa.org

Ryan Wey ryan@macpa.org

Barrett Young, CPA

COMMUNICATIONS

MaryBeth Halpern marybeth@macpa.org

Rebecca Zimmerman becca@macpa.org

SENIOR STAFF

Amy Moran amym@macpa.org Bill Sheridan bill@macpa.org

PROFESSIONAL DEVELOPMENT

2015-2016 BOARD OF DIRECTORS

Richard L. Wolf, CPA, CFE, CGMA

MACPA EXECUTIVE DIRECTOR

OFFICERS

J. Thomas Hood III, CPA tom@macpa.org

Chris Dougherty chrisd@macpa.org

Michael Manspeaker, CPA, CGMA Chair

MACPA DEPUTY EXECUTIVE DIRECTOR

Andrew Hood andrew@macpa.org

Lisa Cines, CPA Vice Chair

Jacqueline E. G. Brown jackie@macpa.org

MEMBER SERVICES

Donna Carson donna@macpa.org

Kenneth Kelly, CPA, CGMA Secretary/Treasurer

DIRECTOR OF FINANCE AND ADMINISTRATION

Lauren Baker lauren@macpa.org

Paige Sawicki paige@macpa.org

Marianela Del Pino-Rivera, CPA Immediate Past Chair

Skip Falatko, CPA skip@macpa.org

FINANCE Margaret DeRoose margaret@macpa.org Laura Swann, CPA lauras@macpa.org

Pamela C. Devine pam@macpa.org

WE WANT TO HEAR FROM YOU! See below to submit content Bill Sheridan | MACPA Dulaney Center II 901 Dulaney Valley Road Suite 800 Towson, MD 21204 FOR CONTENT SUBMISSION: bill@macpa.org feedback@macpa.org TO ADVERTISE IN THE STATEMENT: Andrew@macpa.org AmyM@macpa.org P: 410.296.6250 F: 410.296.8713 Toll free: 800.782.2036 The MACPA reserves the right to edit all submissions for grammatical style and / or length.

DIRECTORS

Statement of fact and opinion are made by the authors alone and do not imply an opinion on the part of the officers or members of MACPA.

PRODUCT DEVELOPMENT

Terri Smith terri@macpa.org

Jennifer Elder, CPA, CMA, CIA, CFF, CGMA

The Statement is published four times a year by the Maryland Association of Certified Public Accountants, Inc.

Akesha Brown akesha@macpa.org

Jennifer Stevens jennifer@macpa.org

Laura Freitag, CPA

Bill Sheridan, Editor Amy Moran, Advertising Sales

Rebekah Brown, CPA rebekah@macpa.org

JANUARY 2016

Laura Dorsey-Shaner laura@macpa.org

Virginia Jackson, CPA

1

MACPA Member Benefits

What we do for you:

•10% premium discount on Disability Income Insurance* •10% premium discount on Long Term Care Insurance (for member, and members family)** •Post 65 planning •Individual Health Insurance Review •Insurance Planning

What we do for your company:

•Guaranteed Standard Issue Disability Income Insurance Offer* •Executive Benefit Planning •Compliance Audits •Affordable Care Act Seminars •Health Insurance •Etc…

What we can do for your clients:

•Individual Insurance Planning •Estate Planning •Pension and Retirement Planning Services •Group Health Benefits TriBridge Offices Baltimore * Bethesda * Frederick * Hagerstown * Washington DC *Offer with MassMutual Disability Income Insurance **Offer with MassMutual Long Term Care Insurance

240-422-8799 or toll free 855-333-6399 www.tribridgepartners.com

Securities, investment advisory and financial planning services are offered through qualified registered representatives of MML Investors Services, LLC. Member SIPC. Supervisory office: 11350 McCormick Rd., Executive Plaza IV, Ste 200, Hunt Valley, MD 21031 Phone: 410.785.7654. TriBridge Partners, LLC is not an affiliate or subsidiary of MML Investors Services, LLC or its affiliated companies. CRN201711-198067

Includes a detailed tax extender review

With Art Werner, J.D., MST

Win the tax season race.

1040 Fast Track is the ideal preparation for the upcoming tax season rush. This extensive interactive seminar covers changes in individual tax law. Attendees are provided with an 800+ page manual written by full-time practitioners and a two-hour IRS self-study course, as well as dozens of other resources for their best tax season yet.

Jan 7-8, 2016 Timonium Event ID: 211002

Jan 21-22, 2016 Rockville Event ID: 211003

macpa.org/1040FastTrack

CHAIR’S COLUMN MARYLAND’S NEW CPAS A REMINDER OF THE VALUE AND SPIRIT OF OUR PROFESSION

BY MICHAEL MANSPEAKER, CPA

DIRECTOR OF ACCOUNTING AND AUDITING AND QUALITY CONTROL, Smith Elliott Kearns & Company

It’s getting harder to find time to appreciate the really important stuff, isn’t it?

invest, and companies won’t be able to sell on payment terms or obtain funds to fund operations without financial statements they can rely on.

We’re facing unprecedented change and complexity these days. New regulations, technological advances, demographics, globalization — they’re joining forces to make our lives busier than ever. It’s a struggle just to keep up, and that means we’re left with less and less time for the things that mean the most.

“Without you, there are no financial markets. Public companies wouldn’t be able to sell stock on an exchange without audited financial statements, and private companies wouldn’t be able to secure investor capital or debt financing without financial statements.

Every now and then, though, an event comes along that makes everything clear again.

For me, that event was the MACPA’s Newly Licensed CPA Swearing-In Ceremony in November.

Few things in recent memory have made me prouder than watching a record number of new Maryland CPAs pledge to honor this profession by focusing on ethics, objectivity and excellence. It left a lasting impression not only on me, but on the many luminaries who attended the event.

Their words of wisdom to Maryland’s new CPAs drove home the importance of our profession and illustrated why I became a CPA in the first place.

There was Art Flach, a former chair of the MACPA’s Board of Directors and current chair of Maryland’s State Board of Public Accountancy, who challenged Maryland’s newest CPAs to “rise to the occasion when times are difficult, and never deviate from your ethical and moral standards.” His thoughts included the following passage: “Without CPAs, there is no commerce.

Banks won’t lend money, suppliers won’t extend credit, investors won’t

4

“Without CPAs, there is no investor confidence, no public funding of state and local projects, and owners won’t be able to determine what return on investment is possible, or will be, for additional investments.

“Everything revolves around CPAs adhering around our guiding principles, to make sure we continue to hold the public trust at the forefront of the profession.”

Inspiring stuff.

So, too, were the words from Kimberly Ellison-Taylor, another former MACPA chair and current vice chair of the AICPA’s Board of Directors — which puts her in line to become the first Maryland CPA to serve as AICPA chair.

“In a rapidly changing and complex world, we need you more than ever,” she said.

“As CPAs, you like challenges. You are hard-working, persistent, focused and committed.

And as usual, Tom Hood brought it all home by emphasizing the values of community and collaboration that the next generation of CPAs bring to the table. Channeling an African proverb, Tom said, “If you want to go fast, go alone. If you want to go far, go together.”

In an increasingly chaotic world, those are words to live by.

Our profession stands on the brink of transformative change. Our transactional core is increasingly becoming automated and commoditized, and that’s forcing us to rethink how we will add value to our clients’ lives going forward. It’s a new era, and it requires fresh ideas and a new way of thinking.

What can never change, though, are our core values — competence, integrity, objectivity, lifelong learning, and broad business acumen. They define who we are.

In short, to borrow the words of Jim Collins, sometimes you have to change what you do to remain who you are.

That’s what these young professionals bring to the table. They will lead the transformation of this great profession, and they’ll do it while grounded in the core values upon which it was built.

After watching Maryland’s newest CPAs make their pledges and launch their careers, I’m more convinced than ever: The future of our profession is in good hands.

“One day,” Kimberly added, “you will be our CFOs, our deans, our managing directors. … I have every confidence that whatever your dreams and ambitions are, you will achieve them.”

STATEMENT

KELLY Payroll is the preferred payroll provider of the

KELLYPAYROLL.COM | 888-882-1487

MACPA playing

OFFENSE &

DEFENSE

as legislative session approaches

6

STATEMENT

BY BILL SHERIDAN, CAE

It’s crunch time, CPAs. Maryland’s General Assembly will launch its 436th session on Jan. 13, and as Tom Hood likes to say (with apologies to Mark Twain), “No man’s life, liberty or happiness are safe when the legislature is in session.”

That’s the annual legislative call-to-arms for the MACPA, which is planning to play offense AND defense this year in its bid to protect the lives, liberty and happiness of Maryland’s CPAs. Here’s a closer look at the MACPA’s legislative agenda for 2016.

ON THE OFFENSIVE

The MACPA will push for the passage of two proactive bills that will help protect Maryland CPAs and their clients.

bringing the lawsuit substantially contributed to his own injuries. That “would increase liability as well as the number of lawsuits if it’s passed,” Hood said. “We want to stop that.”

In short, Hood said, the increased cost of conducting business and the decreased productivity associated with the comparative negligence standard would, in the long run, lead to a loss of jobs, increased liability and a deterioration of the economic climate in Maryland.

Read the MACPA’s position paper in its entirety at MACPA.org/Fault.

• The MACPA also will work to block any attempt to impose sales taxes on professional services. “While it’s unlikely to happen in Maryland, it’s showing up in a lot of other states,” Hood said.

“That could mean problems for us.”

Read the MACPA’s MACPA.org/TaxServices.

related

position

paper

at

• CPAs also will watch for any bid to reintroduce non-disclosure / non-compete legislation, which that was introduced and defeated in committee last year. Get further information at MACPA.org/NonCompete.

The first is a change to Maryland’s appeal bond law that would add a $5 million cap on such bonds for small businesses. Here’s why the measure is important: Due to the increasing complexity of business today, it is not unusual to see lawsuits with extraordinarily high damages and a high possibility of questionable verdicts in lower courts. This puts Maryland CPAs in an awkward position of having to post a bond that could bankrupt or financially harm a firm or business in order to pursue the matter further in the appellate process. The bill provides some important liability protection for Maryland’s largest CPA firms.

• Rumors also are flying that legislation to mandate paid sick leave for Maryland businesses could be introduced once again this year. Such legislation could impact many small practices and CPAs who serve smaller businesses. “We would support the Maryland Chamber of Commerce in that effort, should that happen,” Hood said.

The MACPA helped pass a $100 million cap on appeal bonds for large businesses last year, but the small-business cap was stripped from the final version of that bill. The goal this year is to pass the small business cap. Read more at MACPA.org/Appeals.

• The first is by attending CPA Day in Annapolis on Jan. 21. The event is free, worth two hours of free CPE, and most importantly, will help protect the profession in the most effective way possible. The more CPAs who attend, the louder our legislative voice becomes. Get details and register to attend at MACPA.org/CPADay.

The second proactive measure the MACPA will pursue would change Maryland’s state income tax due dates to conform with the recently-changed federal due dates. “We’ve talked to the Comptroller’s Office, and they’re OK with it,” Hood said. “We’ll be putting that legislation in.”

HOW YOU CAN HELP CPAs can help advance the MACPA’s legislative in three key ways.

ON THE DEFENSIVE

• The second is by contributing to the MACPA’s political action committee. Our PAC allows us to support legislators who support our political agenda. In turn, that helps us protect the profession. Read more about how you can make a difference at MACPA.org/PAC.

The MACPA and its members will be working to make sure bad legislation doesn’t become law and make life hell for CPAs and their clients. Among the issues we’re watching:

• Finally, keep an eye on our blog, CPASuccess.com. We’ll post updates throughout the legislative session about the issues the directly impact you and your clients.

• Comparative fault: Trial lawyers frequently try Maryland’s current “contributory negligence” determining a defendant’s liability with a system recovery against a defendant easier – even when

Let the games begin.

JANUARY 2016

to replace system of that makes the person

Bill Sheridan, CAE, is editor of The Statement and chief communications officer for the Maryland Association of CPAs.

7

When it comes to accountants professional liability insurance…

does not ONE SIZE

fit ALL

That’s why it’s so important to have insurance advisors who specialize in working with CPAs that can tailor your professional liability insurance to the size of your firm.

The AICPA Professional Liability Insurance Program:

• All size firms and areas of practice are eligible • Premium credits for AICPA Audit Quality Center and Private Companies Practice Section (PCPS) membership, risk control training, peer review, and more • CPA NetProtect® — pays for certain costs associated with privacy breaches and provides liability coverage for network damage claims such as cyber attacks*

Please contact Rich Bacher at Aon Insurance Services at 1.800.221.3023 or visit

www.cpai.com/onesize today!

Endorsed by:

Underwritten by:

Administered by:

*CPA NetProtect® is offered for an additional fee as part of the AICPA Professional Liability Insurance Program.

Aon Insurance Services is the brand name for the brokerage and program administration operations of Affinity Insurance Services, Inc. (TX 13695), (AR 100106022); in CA & MN, AIS Affinity Insurance Agency, Inc. (CA 0795465); in OK, AIS Affinity Insurance Services, Inc.; in CA, Aon Affinity Insurance Services, Inc. (CA 0G94493), Aon Direct Insurance Administrators and Berkely Insurance Agency; and in NY, AIS Affinity Insurance Agency.

One or more of the CNA companies provide the products and/or services described. The information is intended to present a general overview for illustrative purposes only. It is not intended to constitute a binding contract. Please remember that only the relevant insurance policy can provide the actual terms, coverages, amounts, conditions and exclusions for an insured. All products and services may not be available in all states and may be subject to change without notice. The statements, analyses and opinions expressed in this publication are those of the respective authors and may not necessarily reflect those of any third parties including the CNA companies. “CNA” is a service mark registered by CNA Financial Corporation with the United States Patent and Trademark Office. Certain CNA Financial Corporation subsidiaries use the “CNA” service mark in connection with insurance underwriting and claims activities. Copyright © 2016 CNA. All rights reserved.

E-11344-116 MD

2016

Business & Industry CONFERENCE

MAY 13 Helping CPAs become strategic advisors for their organizations Business & Industry is an annual conference that provides content relevant to CPAs in B&I sectors. B&I is a one day event featuring a new content theme every year.

Featuring a keynote address from Marc Greenberg, VP of Finance & Strategy at Pixar Animation Studios.

Baltimore | Event ID: 121011 | Hilton Baltimore BWI Airport

macpa.org/IndustryConf

2016 SERIES

A

Financial Leaders Forum

M E E T I N G of the

MINDS that lead firms and organizations

Bi-monthly, CFOs, Controllers, and other senior-level CPAs in business and industry meet to share with and learn from each other at the Financial Leaders Forum. Gain four hours of CPE and enjoy the facilitated discussion that will happen during the provided lunch.

Join the Community

Register for the 2016 series now and save at MACPA.ORG/FLF.

2016 FINANCIAL LEADERS FORUM SERIES THE ETHICS OF CHANGE: KEEPING YOUR BALANCE IN RISKY TIMES 1/28/16 | Timonium | Event ID: 171013

USING THE “TRIPLE BOTTOM LINE” TO INCREASE YOUR SUCCESS 3/24/16 | Columbia | Event ID: 171014

ENTERPRISE RISK MANAGEMENT AND FORECASTING 5/19/16 | Timonium | Event ID: 171015

NEWS & VIEWS AICPA proposes expanding its joint venture with CIMA F RO M TH E A I C PA

Legendary investor Warren Buffett has a saying: “Someone’s sitting in the shade today because someone planted a tree a long time ago.” This quote underscores the importance of anticipating and preparing today for the opportunities and challenges of tomorrow.

The CPA profession has a long history of doing just that.

The Maryland Association of CPAs and the American Institute of CPAs are working on a wide variety of initiatives to enhance the relevance and vibrancy of the profession far into the future. These initiatives include programs to promote the value of CPAs as trusted business advisors, enhance audit quality, broaden the definition of attest, help firms identify and remedy issues during accounting and auditing engagements, evolve the Uniform CPA Exam, attract the next generation of talent, and meet the information and

12

educational needs of members in public accounting, business, government, and specialized services.

In response to the needs of members working in corporations of all ownership structures and sizes, the AICPA formed a joint venture with the Chartered Institute of Management Accountants (CIMA) in 2011. CIMA is the world’s leading and largest professional body of management accountants. Founded in 1919, CIMA represents more than 227,000 members and students operating in 179 countries, working in industry, commerce and not-forprofit organizations. In January 2012, the two organizations launched the Chartered Global Management Accountant (CGMA) designation. The number of CGMA designation holders is now more than 150,000 worldwide, with more than 50,000 in the United States.

Now, the AICPA and CIMA are beginning a conversation with their respective members about a proposal to integrate their operations, strategy, and management through a newly formed association.

The AICPA would continue to serve members and protect, promote and grow the CPA profession. The new association aims to maximize efficiencies and provide a broader platform for further enhancing advocacy, promoting public and management accounting on campuses and with employers and clients, and developing new research and educational offerings.

“A presence in Europe will dramatically increase our ability to advocate for members on international matters that are increasingly impacting the U.S. securities system,” said Arleen Thomas, CPA, CGMA, the AICPA’s senior vice president for management accounting and global markets. “In addition, the proposal would enable the profession to achieve even greater influence domestically and internationally and broaden the appeal of accounting to the next generation of professionals.”

‘UNWAVERING COMMITMENT TO THE CPA’ “Our strategy is built on the power of ‘and,’” said Barry Melancon, CPA, CGMA,

STATEMENT

NEWS & VIEWS the AICPA’s president and CEO. “The AICPA would continue to maintain an unwavering commitment to the CPA, promote high standards for ethics and quality, and protect the public interest and the core values of the CPA profession.

What we would gain through this new association with CIMA is the further professionalization of management accounting. Financial reporting is stronger when we drive quality in both public and management accounting.”

mindset of today’s graduates and the overall trend toward more international connectedness and interdependencies.

• Regulatory impact coming from Europe and other parts of the world that are affecting businesses in the U.S. • The need for finance professionals, facing an increasingly competitive job market, to differentiate themselves from their peers and demonstrate greater strategic management and business partnering skills.

TRENDS DRIVING NEED FOR EVOLUTION The CPA profession has a history of anticipating – and adjusting to – changes in market demands. The profession has grappled with and developed solutions to address increasing complex technology, specialization, and evolving business structures. These drove such evolutionary steps as the computerization of the CPA exam, non-CPA firm ownership, and the adoption of cloud computing solutions.

BUILDING ON EXISTING JOINT VENTURE’S SUCCESS Approximately 50 percent of most state CPA society and AICPA members work in businesses of all sizes and ownership structures. Creating the CGMA offered these professionals a complementary designation and enhanced resources.

Current trends and challenges on the horizon have been carefully assessed by the AICPA as part of its ongoing strategic planning process. With record membership numbers and the CPA reputation at the highest level, the AICPA believes the time is right to pursue a proposal that will better enable the profession to tackle such factors as:

Since the designation’s launch, the AICPA and CIMA have delivered nearly 120 reports and tools plus online events and career development resources to members seeking to increase their knowledge and hone critical skills for the future. The organizations also developed the CGMA Competency Framework and the Global Management Accounting Principles.

• The growing worldwide talent shortage and associated demand for ever higher levels of specialized knowledge and services.

• Significant demographic generational shifts.

and

• The increasing number of accounting graduates bypassing professional affiliation and the associated commitment to a professional code of conduct.

• The shift of economic growth toward Asian and emerging markets.

• The

greater

JANUARY 2016

international

hub for all of these resources and more.

BENEFITS OF THE PROPOSAL “The changes this profession faces today are greater than ever. To preserve our relevance and stature, the profession needs to embrace change and consider innovative ways to better anticipate, reflect and lead,” said MACPA CEO Tom Hood, CPA. “Our town hall meetings have shown overall support for this proposal.

Our Board of Directors is evaluating this and should have a position by the end of January.”

Strengthening the bond between the two organizations would streamline resources and create efficiencies to help both organizations move faster to market and produce content with broader perspective, especially on international business issues, which are increasingly impacting CPA firm clients.

In particular, the AICPA cites the gains in advocacy that could be realized when speaking on behalf of more than 600,000 current and next generation accounting professionals. The association of the AICPA and CIMA would form the most influential body for the accounting profession, within the U.S. and globally, advocating on tax, audit, financial reporting and other issues important to members.

In addition, so that members and employers could better assess and address accountants’ skills and competency gaps, the organizations launched the AICPA | CIMA Competency and Learning platform.

The tool also analyzes public accounting skills, such as those related to assurance as well as employee benefit plan and governmental audits.

WHAT’S NEXT? Gaining member insights into the AICPA and CIMA evolution is critical to helping the AICPA’s governing Council determine its next course of action. Council will assess member feedback and consider authorizing a member ballot in the spring.

Moving forward would require a vote by members, with a majority of those voting supporting the proposal. CIMA has a similar requirement and timeline.

CGMA designation holders also have access to CGMA Magazine, the CGMA Finance Impact Tool, numerous reports and case studies on best practices, and the Harvard ManageMentor online learning and performance support resource program. The website CGMA.org is the

Members are encouraged to visit aicpa. org/horizons to find out more about what they could gain from a deeper relationship with CIMA and provide feedback on the proposal.

13

NEWS & VIEWS MACPA’s own Kimberly Ellison-Taylor takes reins as AICPA vice chair

BY BI L L S H E R IDA N , CA E

Maryland is vaulting straight to the top of the profession.

Kimberly Ellison-Taylor, a former chair of the MACPA’s Board of Directors and the global accounting strategy director at Oracle’s Financial Services Industry Group, has been elected vice chair of the American Institute of CPAs’ Board of Directors. She will become the AICPA’s chair a year from now, at the AICPA Governing Council’s 2016 fall meeting.

She will be the first-ever MACPA member to serve as the AICPA’s top volunteer.

One of Ellison-Taylor’s top priorities will be to sharpen the AICPA’s focus on talent development, a critical issue for businesses

14

and the profession alike. Survey after survey shows that finding employees with the right mix of skills is one of the biggest challenges leaders face today.

Accounting and finance organizations aren’t immune; the profession is struggling to close the gap between record numbers of students who are studying accounting in college and falling numbers of candidates who are choosing to take the CPA exam.

It’s a complex problem, but one that mentors and professional advocates might help solve. Ellison-Taylor says a series of mentors — from family, teachers and professors to professional advocates — have fueled her career growth. She wants to pay that mentorship forward, and she wants CPAs everywhere to follow suit.

“If we help young professionals nurture their careers, the entire profession will reap the benefits,” Ellison-Taylor told the crowd at the fall 2015 meeting of the AICPA Governing Council.

Professional growth today depends largely on “the ability to surround yourself with

people who will keep you on your path to success,” Ellison-Taylor said, but that isn’t the only factor. She urges young professionals to “pursue your ABCs”: • Aptitude, attitude, appearance • Boldness, bravery, belief • Commitment, compassion, competency She also urges them to join their state CPA societies. It’s a great way to support and protect the profession, and it can also help further your career. Ellison-Taylor traces her leadership roots back to her early days as a volunteer with the MACPA. That led to positions as the MACPA’s chair and, eventually, to the top of the AICPA’s Board of Directors.

“I am a huge fan of state CPA societies,” she said. “If you want to advance your CPA career, join your state society.”

Bill Sheridan, CAE, is editor of The Statement and chief communications officer of the Maryland Association of CPAs.

STATEMENT

JANUARY 21 2016

Promoting and protecting CPAs in Maryland BRING YOUR VOICE TO ANNAPOLIS ON JANUARY 21ST

Governor Calvert House | Event ID: 181000 | macpa.org/CPAday

Once a year, CPAs gather in Annapolis to make their professional interests known to Maryland legislators. The Maryland Association of CPAs engages in ongoing legislative and lobbying efforts, and CPA Day is the best time for CPAs to show their support and advocate for our profession. Two free hours of CPE are included for each participant.

FINANCIAL PLANNING Valuing assets for estate purposes: New challenges for estate planners and valuation professionals

BY T H O M A S J . STE M M Y, CPA , CVA, EA, MMS The world of estate planning was turned upside down when the American Tax Relief Act (ATRA) of 2012 abolished the federal estate tax­—at least for most Americans.

Now (unless you are among the very wealthy), the bigger challenge in estate planning is with the ever-increasing income tax, which many believe will be making up for much of the newly lost revenues.

First, a note about the increased lifetime exemption for estate taxes: Because of the ATRA, the federal estate exemption is now set at $5.43 million. For married couples, the now-permanent portability rules could allow the exclusion to reach as high as $10.86 million. This new exemption is in stark contrast to the amount allowed over the past 10 years. Starting in 2005, the lifetime exemption was set at $1.5 million.

Since that time, it has been increased to the present level of $5.43 million and is now adjusted for inflation.

Income taxes, meanwhile, are on the rise.

The top marginal tax rate for individuals and trusts has been raised from 35 percent to 39.6 percent. Further, the long-favored, top capital gains tax rate of 15 percent has been increased to 20 percent. This is in addition to the new Medicare tax of 3.8 percent for investment income.

necessary, they should check with their valuation professional to know if that value (determined under IRS standards) will be big enough to require estate taxes on the liberal new playing field.

If they already have a comprehensive estate plan in place, they should ask an attorney if it needs to be revised or, in some cases, even dismantled because of the new law.

They may be pleased to learn that an easier-to-understand estate plan and will might help them focus on more important issues, such as (a) staying in control of their assets, and (b) making sure those assets will pass to their loved ones with minimum costs and administrative hurdles.

THE SEARCH FOR BASIS: THE NEW ACE IN ESTATE PLANNING Estate planners never had a shortage of creative gift planning techniques that allow for the elimination of excessive federal estate taxes.

Now, however, with the lifetime exemption at $5.43 million (more for married couples), many taxpayers are wondering if those lifetime gifting strategies still make good sense. For them, too many lifetime gifts (especially with appreciating assets) might create a bigger tax burden for the family for the following reasons:

fair-market value at the date of death (Sec. 1014). In many cases, this might translate to zero tax consequences for the family when the asset is sold.

Again, taxpayers may need to check with their valuation experts about a realistic value of the assets that will be included in their estate to determine if their estate plan needs to be revised. If it is evident that their estate will never reach the new exclusion level (adjusted for inflation), they may want to call off their gifting plans altogether.

But first, a brief word on income shifting. Before scrapping those lifetime gifting plans because of the new ATRA rules, the estate planner should first consider the possible tax benefits from income shifting. Because of high-rising income tax rates, income tax savings could be dramatic when there are younger family members in low tax brackets and the “kiddie tax” is not a major concern. (It generally applies to young children and students who have investment income in excess of $2,100).

Aside from relief from estate taxes, there is one other advantage that has come about with the ATRA: Many are finding they no longer need a cumbersome and costly action plan to get assets out of their estate – a plan that requires them to give up control of assets now in order to save estate taxes later.

• The “carryover basis” rule: If a family member (or donee) receives an asset that has appreciated in value by way of a gift, his basis in that asset will generally be the same (as adjusted) as it was in the hands of the donor.

(Sec. 1015(a)).

The tax saving benefits of income shifting can best be demonstrated in one particular example with a commonly misunderstood phenomenon known as the zero percent tax bracket. In simple terms, for 2015 the zero percent tax bracket means there will be no capital gains tax whatever for any single individual who is not expected to have more than $37,450 in taxable income.

Family planners should be aware of the changing fair-market value of all the assets included in their overall net worth. If

• The “basis step-up” rule: If that asset were to pass to the donee by way of the estate, the donee’s tax basis will generally be stepped-up to the

As an example: Jack, who is in a 23.8 percent (capital gains) tax bracket, owned XYZ stock worth $40,000 which he wanted to sell. However, he had

16

STATEMENT

FINANCIAL PLANNING concerns over the tax consequences since his cost basis was only $3,000.

He decided that a likely candidate for a gift transfer would be his son, Junior, who was expected to have no more than $10,000 in wages for the year. Jack reasoned that Junior’s taxable income would not exceed $37,450, even if Junior sold the stock after being stuck with a low $3,000 carryover basis. As shown by the following calculation, the end result would be zero tax consequences for the family.

• Year-end cash gifts to the kids may no longer have any tax benefit: Estate planners have long been ingrained with the idea that the easiest way to get assets out of your estate is to make a gift transfer at the end of the year of a limited dollar amount. That dollar amount is the annual exemption for filing a gift tax return, which is still required by law. Many are now finding that there will be no magical benefits for making that yearly gift transfer that happens to be just under the IRS annual exclusion, now set at $14,000 (Rev Proc 2014-61, Sec. 3.35 (1)).

Junior’s anticipated wages for 2015:

$10,000

Long term capital gain ($40,000 - $3,000):

$37,000

Adjusted gross income:

$47,000

• Other strategies may no longer serve any purpose: For example, the “bypass trust” strategy may no longer be necessary for married couples who wish to lock in both of their lifetime exemptions from estate taxes.

In another example, the popular “ILIT” (the irrevocable life insurance trust) may no longer be needed to get life insurance out of the estate planner’s estate.

Less standard deduction: $6,300 Exemption:

$4,000

$10,300

Taxable income

$36,700

Junior’s tax liability

-0-

A NEW PARADIGM IN ESTATE PLANNING Aside from those scenarios in which income shifting can bring immediate tax benefits, most estate planners will no longer get any benefit from a gifting plan intended to lower the value of their estate. In fact, some will be surprised to learn that a higher estate values these days will often be a blessing rather than a curse, thanks to step-up.

• New thoughts to consider: It is one thing for estate planners and valuation experts to be aware that basis step-up could have major benefits. However, they need to keep in mind that there should be other tax planning considerations in the valuation method that is used. These include maximizing preferred capital gains treatment for the beneficiary as well as basis stepup for depreciation purposes. In this regard, some thought should be given to the tax impact of “Section 1231 gains” and “1250 recapture income” when the assets are eventually sold.

JANUARY 2016

These and other familiar estate tax terminators are no longer a good idea when there is no estate tax to begin with and the benefit of basis step-up is sacrificed forever. And let’s not forget the cost of set-up and administration with these plans.

DISCOUNTED GIFT TRANSFERS Historically, major estate tax savings have been achieved by gifting minority or fractional interests in various investment holdings (including small businesses, real estate, etc.) Minority interests in family limited partnerships, LLCs or corporate entities have been permitted substantial discounts in value by IRS when they have been appraised by a qualified valuation professional. Why? Because those minority interests usually have strings attached which diminish their value. For example: • The donee doesn’t have the same full control over the minority holding as he would with other ordinary investments. Without having control over management, income

distributions or policy decisions, it is expected that the value of his interest will be far less than that of a controlling owner. Thus, the “DLOC” discount is often allowed (discount for lack of control).

• The minority owner generally has no say over how or when he could recoup the value of his interest. Whether that interest is in a closely held corporation or a partnership (often used in family planning), it will not be much in demand in the open market.

Further, there are usually restrictions on selling or redeeming the interests, which means “non-liquidity” and a lower fair-market value. In short, the door is open for an additional “DLOM” (discount for lack of marketability) discount.

Gifts of minority interests with strings attached might not be such a good idea if it is evident that estate taxes are not in the cards. The new focus needs to be on basis step-up rather than claiming a discount that has no tax benefit.

WHAT IF YOU ALREADY HAVE A MINORITY DISCOUNT ENTITY IN PLACE? Some practitioners contend that the best way to fix a minority discounted entity problem (and to restore basis step-up) is to get rid of some of the so called “strings.” This would increase the value of the interest for step-up. The estate planner might consider discussing with his attorney a plan to amend the existing entity documents and add provisions that would expand the minority owner’s role in terms of management, policy making and income distributions.

Further, he might consider adding new language that would give the minority owner broader rights in connection with liquidation and transferability of ownership interests.

It may be a good time to borrow the IRS’ arguments against the minority discount. The IRS and the U.S. Tax Court have raised arguments against minority

17

FINANCIAL PLANNING discounts in order to raise transfer taxes.

Noted commentators are now suggesting using these same arguments for a different reason. For example, the “control premium” argument by the IRS should now be looked at more closely by the valuation expert who is considering an enhanced value of a controlling interest in an estate valuation. (Estate of Salisbury, T.C. Memo, 1975-333) In addition, attorneys are being asked to consider adding retained rights and interests in family owned entities, whereby the family planner would be entitled to continued use and enjoyment of the property including special powers for management and liquidations etc. This would support the argument for forced inclusion of full value in the gross estate and ensure basis step-up. Many also suggest that it would be a good idea to file a decedent’s estate return showing the enhanced value of the family entity, even if a return is not required because of the new ATRA rules.

Why not just dissolve the minority discount entity and get it over with? This could be a possible solution provided there are not any business or managerial reasons to keep the entity in intact. However, the tax consequences of liquidation (especially with corporations) need to be examined closely. Even with the ever-popular family partnership, a liquidation with appreciated property could trigger unexpected tax consequences to the contributing partner when the entity has held the property less than seven years, under Sec. 704(c).

INTELLECTUAL CONSIDERATIONS

PROPERTY

Now that the search for basis has become a high priority with estate planners, more attention is being paid to a wide variety of intangible assets. These are assets that might possibly have a distinct and ascertainable market value for estate purposes. Common examples include literary works and artwork, but they could also include copyrights, patents and trademarks. Generally, these are assets

created by an individual who can either sell them during his lifetime or pass them to his beneficiaries through his estate and permit a full basis step-up to fair market value at date of death.

Note: The rules for intellectual property and the legal rights that accompany the passing of ownership interests are highly complex. Since most tax and valuation advisers are not well versed in this area, competent legal counsel is advised.

The worst income tax results occur when the creator holds intellectual property or other self-created assets. Generally, because of Sec. 1221(a)(3), the creator will have a zero tax basis in the property and it will not be treated as a capital asset. That means no capital gains treatment for any income that will be received and the high ordinary tax rates will apply. If the property were to pass through an estate instead, a whole different set of rules will apply.

Gifting an intangible asset is generally never a good idea because the donee will have a carryover tax basis of zero and have to report as ordinary income any dollar that is received. On the other hand, a testamentary transfer of the property and a qualified appraisal could ensure the beneficiary a full basis step-up along with the luxury of capital gains treatment for liquidations.

As an example: Jane, a noted artist, had created an interesting portrait on which she spent long hours before her death early in the year. Her daughter, Joy, decided to get the painting appraised and was astonished to learn that it could readily be sold for $400,000. (The appraisal did not trigger a federal estate tax since Jane’s estate was under the $5.34 million threshold.) Two years later, Joy sold the artwork for $500,000, creating a capital gain of $100,000.

Assuming a 23.8 percent capital gain tax rate, Joy had to pay only $23,800 on her $500,000 windfall ($100,000 x 0.238).

Note: If Jane had sold the artwork during

her lifetime for $400,000, her tax cost (assuming the top tax rates) would have been as high as $173,600 because the 3.8 percent new tax on investment income on top of the 39.6 perent top rate on ordinary income would have created a 43.4% tax liability ($400,000 x 0.434) In short, the overall tax savings for the estate inclusion and basis step-up amounted to $149,800.

SPECIFIC CHALLENGES FOR THE APPRAISER IN ESTABLISHING BASIS As every valuation professional knows, rendering an opinion on the value of intellectual property is a bit different than it is with a regular operating business entity. It often involves projections of future earnings, discounted cash flow approaches and other techniques that is best handled by a qualified appraiser who has experience with intellectual property.

INFLATED TAX BASIS: PRECAUTIONARY NOTES It is interesting to note how the tone has shifted with the IRS focus on professional advisers when a client’s tax liability is understated. For income tax understatements, penalties are assessed either because not enough income was reported or too many tax deductions were claimed. Transfer tax understatements, on the other hand, have generally been assessed for one simple reason: An asset may have been valued too low for estate purposes. However, in the topsy-turvy world of estate planning, the IRS will be looking in the opposite direction for indiscretions with asset valuations. That’s right: Those assets just might be overvalued.

Both tax return preparers and valuation professionals are usually well aware of the IRS’s general mindset on penalty assessments. Return preparers need to be wary of Sec. 6694(a) and the penalties for taking “unreasonable positions” with regard to the determination of tax liability.

Sec. 6694(b), meanwhile, goes on to prescribe more onerous penalties when “willful or reckless conduct” is involved.

S E E “ E S TAT E P L A N N I N G” O N PA GE 22

18

STATEMENT

BUSINESS & INDUSTRY Fraud: Red flags and when to bring in a forensic accounting expert B Y K R I STO P H E R R. H A LLE N GRE N, CPA/ABV, C F F, AS A, MS F AND JENN A A D L E The typical organization loses 5 percent of revenues each year to fraud, according to the 2014 Report to the Nations on Occupational Fraud and Abuse, completed by the Association of Certified Fraud Examiners. This equates to an estimated annual loss due to fraud of almost $3.7 trillion.

The median loss caused by fraud totaled $145,000, and approximately 22 percent of the cases in the study involved losses of at least $1 million. For many small organizations, a fraud of this size is extremely detrimental and can cause the business to go under. For this reason, it is important to be able to recognize the “red flags” of occupational fraud and abuse, to be able to deter fraud, and to know when it is necessary to bring in an expert if fraud is suspected or discovered in your organization.

Fraud indicators or red flags can be categorized into two categories: behavioral red flags and financial red flags.

The behavioral red flags pertain to the fraudster who is perpetrating the fraud, whereas the financial red flags pertain to the company’s financial data, records, and business practices.

Behavioral traits that can often be indicators of fraud include living beyond one’s means, financial difficulties, divorce / family problems, control issues and unwillingness to share duties, addiction problems, complaints about inadequate pay, refusal to take vacations and personal leave, unusually close association with a vendor or client; excessive pressure within the organization to perform well, past legal problems, and excessive pressure from family and peers to be successful. Most fraudsters exhibit one or more of these

JANUARY 2016

behavioral indicators. Managers, auditors, and other employees should be aware of these warning signs, which could indicate that the potential for fraud is higher with those displaying these indicators.

Financial indicators of fraud often include accounting anomalies; unusually rapid revenue and profit growth; internal control weaknesses; ethical weakness at the executive, owner, and manager levels; unusually high disparities with industry averages; unusual patterns in cash flow (i.e., negative cash flows for the first three quarters and positive cash flow in the fourth quarter to bring cash flow for the year positive); complex organizational structure; intricate and complex financial transactions; and lack of board oversight of executives and top management.

Although one or more of the above mentioned indicators of fraud may be present, it doesn’t necessarily mean that fraud is occurring. A thorough investigation should be completed to determine if fraud has actually occurred and to what extent.

To accurately and thoroughly complete a forensic investigation, a forensic accountant should be consulted and engaged at the beginning of the process. Engaging a forensic accountant at the beginning of the process will ensure that the scope is defined as accurately as possible, that all of the necessary and relevant documents are requested, that the expert witness is disclosed in a timely fashion, and that all discovery deadlines are met.

In the context of divorce, fraud can occur by way of asset misappropriation / dissipation, income deferral, and undisclosed assets. Shareholder dispute cases often have elements of fraud such as unreasonable compensation, related

party payments, unauthorized loans, and personal expenses.

A forensic expert is also able to review the current policies, procedures, and internal controls in place and will be able to guide you on how to more effectively deter fraud in your organization.

A few examples of measures that can be put in place to assist in deterring fraud are internal audits; external audits; surprise audits and cash counts; implementation of an anonymous tip hotline for use by employees, vendors, and clients; data mining; frequent ratio analysis; anti-fraud training for all employees; ensuring that the tone at the top is one of honesty and integrity; making sure that ample internal controls are in place (segregation of duties, mandatory vacations, rotating job tasks, etc.); ensuring that background checks are performed on all new hires; and making it known to all employees that the company actively seeks out any fraudulent conduct.

Fraud occurs in many organizations, and most fraud goes undetected. The earlier fraud is detected, the lesser the loss will be, which can be critical to keeping the business operating. What is even more critical is having internal controls and other safeguards in place to deter fraud as best as possible. If fraud is detected, it is important to bring in a forensic expert as soon as possible to ensure that the scope is accurately defined, that all necessary documents are requested, that all deadlines are met, and that the forensic investigation will be completed as accurately and thoroughly as possible.

Kristopher R. Hallengren, CPA/ABV, CFF, ASA, MSF, is director of the Forensic and Valuation Services Division at Weyrich, Cronin & Sorra.

19

The Firm of the Future

SUCCEEDS When looking for ways to move their firms into the future, these second-generation CPAs chose CCH Axcess™.

Since McCarthy, Rose & Mills LLP implemented CCH Axcess in 2012, it has been able to outpace top-firm average growth by 2-4% and is on track to nearly double the industry’s top-firm average growth rate of 8.4% in 2015.

Efficiency gains [through the use of technology] allow us to re-invest in our firm, grow our practice and be true advisors to our clients.

— Brett Mills, CPA, Partner, McCarthy, Rose & Mills, LLP

We turned to Wolters Kluwer because other companies were stagnant, and we could see the positive things Wolters Kluwer was doing. The solutions have allowed us to do more work in less time and helped increase our bottom line.

— John B. Mills Jr., CPA, Managing Partner and Founder, McCarthy, Rose & Mills, LLP

The CEO and Principal of New Vision CPA Group, Jody Padar, took her firm into the cloud nine years ago, when many accountants still eyed cloud solutions with skepticism. In 2013, the firm switched to Wolters Kluwer to fulfill its goal of adopting a cloud-based tax and accounting suite with open standards.

Things that had taken me an hour took two minutes in the cloud. That fundamentally changed the way I would run my firm. Fast forward nine years, and we’re a cloud-driven firm, working in real time with clients all over the world.

— Jody L. Padar, CPA, MST, CEO & Principal, New Vision CPA Group

I got a phone call while fishing and advised my client that I would get back to him within the next two hours. Approximately two hours later, I called my client and resolved the matter wearing shorts!

— James (Jim) J. Matousek, CPA, Principal, New Vision CPA Group

2015-0287-2

Visit CCHGroup.com/CCHFaces to read their full stories and see how you can become one of 20 the many faces of CCH.

STATEMENT

BUSINESS & INDUSTRY Two things business owners should know about EMV Here are some important things that business owners should know about the new EMV “chip” cards, courtesy of USB Payment Processing.

1. EMV cards are the gold standard of payment systems.

Nearly every credit card company has issued new EMV “chip” cards that use silicon computer chips instead of magnetic strips to hold information.

Most EMV credit cards use a four-digit personal identification number, or PIN, to verify identity instead of a signature.

Unlike magnetic strips, which even incompetent fraudsters can hack using

cheap tools, EMV chips come with fairly sophisticated, built-in security defenses.

Among other things, they prevent magnetic strip skimming devices from stealing credit card information.

2. Starting in October 2015, fraud liability has shifted to business owners.

If a business owner fails to upgrade from the old technology to the new and a counterfeit transaction happens in their business, they are financially responsible, not the credit card company.

Many major retailers already have EMV terminals in place, and smaller businesses may not feel the need to invest in new

equipment under the presumption that they will not have any issues with fraud.

However, fraudsters who usually target larger retailers could be deterred with new EMV terminals in use and will transition their target to smaller businesses that do not have EMV terminals, leaving the business fully liable.

Sources: Time Magazine and Avidia Bank USB Payment Processing, a trusted merchant services company since 1996, has affordable solutions for business owners transitioning to EMV technology. Call for a free assessment at (410) 828-4286.

Who do your clients trust with their merchant services?

Keep us in your back pocket.  Celebrating 20 years in business  Served over 10,000 clients  Locally owned in Maryland  A+ Rating with BBB  On-site technical support  Award-winning customer service 8501 LaSalle Road, Suite 300, Towson, Maryland 21206 | 410-828-4286 | www.usbne.com

FINANCIAL PLANNING What every client needs: Food, shelter, clothing...and asset protection planning

BY M A U R I C E OFFIT, CPA , E SQ .

Editor’s note: This is the second of a two-part series.

I’ve always envied CPAs. They’re guaranteed to meet with their clients once a year (at tax time), and they have the opportunity to make sure their clients’ planning is up to date.

At tax time, most CPAs remind their clients to review their financial plans and make sure their investments are well diversified. They routinely advise their clients to bring their estate plans up to date.

But to my surprise, they rarely inform their clients to enter into an asset protection plan, a plan that will protect their hard-earned savings from claims of future creditors.

Frankly, I don’t know why more CPAs don’t discuss asset protection planning with their clients, because we live in a world that has too many lawyers and too many lawsuits. CPAs have to realize that their clients need to be informed about asset protection planning.

My advice to all CPAs is to discuss asset protection planning with their clients next tax season, especially the following clients, who in my opinion have a critical need for asset protection planning: • Clients whose first marriage ended in divorce and are planning on getting married again. They hope their second marriage will bring them happiness and are, therefore, afraid of asking their fiancé to sign a prenuptial agreement.

Nonetheless, they want protection because they’re fearful that their second marriage (like their first marriage) could end in divorce.

• Clients who are planning to sell their business and will be signing a contract of sale that contains pages and pages of warranties and representations. Clients like this can’t wait for the day that the closing on the sale of the business will

occur, as they will then be flush with cash and able to retire.

Unfortunately, for some of these clients, their dream will turn into a nightmare as they’ll be sued by the buyer of their business for breach of warranty and representation (because the business wasn’t as profitable as the buyer expected).

• Clients who are doctors and specialize in an area of practice (i.e. obstetrics, surgery, or anesthesiology) where medical malpractice suits are routinely filed.

• Clients whose businesses are cyclical (and go from periods of boom to periods of bust). Clients like this should protect the profits that they earn in the periods of boom from the liabilities that they’ll have difficulty paying during the periods of bust.

• Clients who lease real estate that was built before 1978 and may, therefore, be subject to suits filed by tenants who have sustained injuries resulting from lead paint poisoning.

There is no downside to discussing asset protection planning with your clients. While many of your clients won’t take your advice and establish an asset protection plan, I’ve found that they are appreciative of the fact that you care about their well-being and are trying to protect them from claimants they could encounter in the future.

Furthermore, you’ll find that some of your clients will take your advice and establish an asset protection plan. Then, if they’re sued, they’ll be forever indebted to you.

Maurice Offit is co-founder of Offit Kurman, Attorneys at Law, and has more than 30 years of experience as an estate planning and asset protection planning attorney.

E S TAT E PLAN N IN G, C O N TI N UED FR O M PAG E 1 8

Valuation professionals were brought into the picture in 2006 under the Pension Protection Act of 2006 and the introduction of Sec. 6695A. That is where Congress acted to impose penalties for any “substantial estate or gift tax valuation misstatements.” The primary intent at that time was to thwart efforts to minimize (or

22

discount) asset values in order to lower transfer taxes.

As observed earlier, the IRS will now be wearing a new hat in its enforcement efforts. This is sure to raise provocative questions. Many will wonder how the IRS will respond to the challenge of valuation

experts who will borrow the IRS’s own arguments for increasing asset values -within the limits of the law and sound valuation theory.

Thomas J. Stemmy, CPA, CVA, EA, MMS, is a tax practitioner and principal with Stemmy, Tidler & Morris, P.A. in Annapolis.

STATEMENT

FINANCIAL PLANNING Social Security claiming strategies eliminated

BY C H R I S B E N SON , CPA , P FS

When you or your clients reach age 62, you have a decision to make: Do you claim your Social Security benefits now or wait?

Unfortunately for the vast majority of the American population, this is an easy decision to make. They claim as soon as they are eligible because they don’t have other assets that can support them if they delay. For everyone else, the decision is much more complicated.

That decision just got a bit less complicated, though, now that Congress has taken two popular claiming strategies off the table.

Let’s start with the basics. Everyone who has worked for at least 10 years (or fewer if you were born before 1929) has a Social Security benefit based on your work history. Your full retirement age (FRA) is somewhere between 65 and 67, depending on when you were born. You can claim as early as age 62, but you will face a reduction from your FRA benefit of as much as 30 percent. You can also delay your benefit to age 70, earning an increase of 8 percent per year past your FRA. If you are single, you have a fairly easy decision to make: Do you claim less now or more later? The answer to that question could be easily answered if you knew how long you would live. Why? The difference in your benefit payments between age 62 and 70 is calculated based on your actuarial life expectancy. In other words, the government is guessing the age at which you will die and trying to make your total lifetime income equal regardless of when you claim. Unfortunately (or maybe fortunately), you probably don’t know exactly when you will die.

If you are married, things get more complicated. If you and your spouse have a work history, you both have your own benefit.

Whether you work or not, you are also eligible for what is called the spousal benefit. At FRA, your spousal benefit is half the amount of your spouse’s FRA benefit. Married couples need to not only decide when they should file for benefits, but also when their spouse should file for benefits.

Two strategies for couples had become popular in recent years but were recently modified and / or eliminated by Congress.

The first is called “file and suspend.” Under this strategy, the higher-earning spouse would file and immediately suspend his or her benefits at FRA. Doing so allows their benefit to continue to earn the 8 percent increase per year and allows the spouse to claim a spousal benefit.

JANUARY 2016

The second strategy is called the “restricted application,” or “claim now, claim more later.” This allowed you to file for spousal benefits at FRA (instead of their own benefit) if the spouse was already claiming benefits. That allowed one spouse to continue to delay his or her own benefit and still receive a spousal benefit, while their own benefit received delayed retirement credits.

Congress is killing the restricted application strategy by extending the deemed filing rule to age 70. This means if a spouse’s retirement benefit is larger than their spousal benefit, they will not receive a spousal benefit.

As is usually the case, the elimination of these strategies will be phased in. If you are already age 66, or if you turn 66 before April 30, 2016, you will still be eligible for the “file and suspend” strategy (to allow your eligible spouse or dependent child to file for benefits) while also increasing your future benefit. If you were born before Jan. 1, 1954, (age 62 by the end of 2015), you will still be eligible to file a restricted application. At the time you file, your spouse must have already claimed his or her retirement benefits or filed and suspended benefits before the effective date of the new rules. For everyone else, these strategies will be off the table.

This means anyone who is age 66 now or turning 66 before April 30 should consider their options in case the “file and suspend” strategy makes sense.

Going forward, it will still be important to evaluate your options before making a decision on your Social Security benefits. Anyone who is in good health and has the ability to delay benefits should still do so, especially if they are the higher earner in a married couple. Rather than worrying about dying early and not “breaking even” on your benefits, you should consider the exponential benefit for you (and possibly your spouse) if you live longer than expected. Social Security continues to be the best form of longevity insurance available, and with people living longer these days, it’s a benefit that needs to be considered.

To hear more about Social Security planning and other retirement planning topics, be sure to attend the MACPA PFP conference later this year. More details will follow in an upcoming issue of The Statement.

Chris Benson, CPA, PFS, works with clients in the tax, personal financial planning, and investment areas at L.K. Benson & Company. He would like to thank Jodi Davis from The Kelly Group for her help with this article.

23

PUBLIC PRACTICE/A&A Where do we draw the line?

BY P H I L I P P E L E RN E R There has been a lot of talk in the news about Daily Fantasy Sports (DFS) lately. New York Attorney General Eric Schneiderman recently declared that DFS constitutes illegal gambling and banned the practice in New York state. Industry leaders DraftKings and FanDuel both fired back, asserting that DFS are not gambling but rather games of skill, which is and should be legal and do not constitute illegal gambling.

The question is, where do we draw the line between games of skill and gambling? And what does this have to do with business?

Maybe it is a bit cliché, but business is all about knowing where to draw lines.

At what point do we say, “This employee is just not working out?” When do we say, “This marketing campaign is not accomplishing what we hoped for?” When

do we say it’s time to cut the cord on that client who doesn’t stop calling?

The reason there is so much controversy regarding DFS sites is because we never had a clear point of what constitutes gambling vs. games of skill -- mostly because we have never had to.

More often than not, that isn’t true in business.

As a business owner, I owe it to myself to have lines before I even begin something new as a metric to define it as a success or failure. I owe it to myself to have a line in the sand that tells me it’s time to stop.

Using the marketing campaign as an example, before engaging in this endeavor, it is important to have metrics that will tell you what success looks like and what failure looks like. For example: “If after

nine months we are getting less than four leads a month, then we will discontinue this service.”

Having a line in the sand beforehand allows us to make decisions without the emotion of being in the moment or how much has already been committed to this project. The best leaders may know how to win, but they also know when they need to cut ties.

Whether or not DFS constitutes gambling or skill is a difficult question. It is made even more complex when we do not have clear guidelines up front. We owe it to ourselves to not make those same mistakes with our businesses.

Philippe Lerner is founder and president of PL Consulting in Baltimore. For further information, visit PLCFO.com.

When it is time to transition out of your practice you want to do it right.

Accounting Practice Sales is the largest facilitator in North America for selling accounting and tax practices. We provide a free estimate of your firm’s value, market extensively, assist in negotiations and find you the right situation. We understand your concerns and respect your confidentiality.

24

Contact us today so your last decision will be your best.

The Holmes Group Toll Free: 800.397.0249 www.AccountingPracticeSales.com bradley@apsleader.com STATEMENT

Dear Fellow Small Business Owner,

M

y name is Phillippe Lerner and I do bookkeeping for small businesses all over the Baltimore metropolitan area. The dream I had for my business was to help customers solve their bookkeeping and accounting problems, but the

reality was that I spent a lot of my time dealing with day to day operations. I quickly realized that I needed to find help with the tasks that kept me from my dream.

We all know that to be successful in business you need to take a proactive approach, but that doesn’t mean you can (or should) do everything yourself. Your time should be spent doing what you do best—growing your business.

Imagine: instead of updating February’s numbers in August you receive crisp, clean financial reports each month, along with a team of professionals available every day to answer your questions and help guide you along as your business grows.

Bottom line? We provide you with the reports and regular updates you need to make good decisions every day of the week. We help you see far ahead so you can plan wisely and are ready to deal with any growing pains while keeping your finances under control.

If you would like to learn more about how we can help, then please complete and mail the attached card and our sales team will give you a call.

Wishing you much success,

Phillippe Lerner Founder & CEO Bookkeeping Plus (+) Baltimore’s Premier Bookkeepers: Helping businesses grow since 2009

PL

Bookkeeping Plus + A Division of PLC

CONSULTING

410-764-3731

u s!

Tr y st r fir u o Y th is n o m E* FRE

•

info@plcfo.com

A+ Rated

•

www.plcfo.com

We offer a range of client customized financial services to improve your company’s bottom line and grow your business.

Yes! I would like to learn more about your bookkeeping services.

My name: _________________________________________________________________________________________________________________________________ My business name: _________________________________________________________________________________________________________________ My email address: My telephone:

__________________________________________________________________________________________________________________

_________________________________________________________________________________________________________________________

Best time to call me: _______________________________________________________________________________________________________________ *Want to see how we can help? Contact us with your requirements, and we will set you up with a free 30-day trial tailored for your business.

P

PUBLIC PRACTICE/A&A Microbusiness: Your next great client

BY M A R S H A L KU SHN IRU K Providing a full range of accounting, tax and consulting services to small businesses is smart business. With a good economy, thousands of small businesses are already in operation and many more ready to open their doors. This sector provides huge sources of income, while also offering a viable and profitable stream of referrals from clients who like to share their stories with fellow small business owners.

These same owners, including those in mid-size and large companies, and even very large enterprises, share one unique commonality. They are entrepreneurs through and through, with an eye on the big picture and always looking for the next big thing.

Several years ago when I first stumbled on the term “microbusiness,” I brushed it off as yet another clever tag to describe the same small business / entrepreneur market that already existed. Now, it’s very easy to see why the microbusiness is a hidden gem. According to a report issued by the Association for Enterprise Opportunity, microbusinesses represent 92 percent of all U.S. businesses, providing approximately 41.3 million jobs. Yet it’s surprising to me how many CPAs and accountants I meet have never even considered serving the microbusinesses sector.

It’s time to change this thinking.

A microbusiness has less than $5 million in revenue, compared to small businesses that have $5 million to $20 million in revenue.

Microbusinesses are independently owned and operated, often out of the owner’s home. Owners usually consider themselves self-employed and often have fewer than five employees. The owner-manager typically is involved in every part of the business, from day-to-day operations and making all the decisions to managing the finances.

In reality, the $5 million cap is definitely the high-end of the scale. Common examples

26

of microbusiness owners include artists, musicians, freelancers and consultants.

Some companies create apps for smartphones or sell sports trading cards or antiques on eBay; others rent out their homes to seasonal vacationers or operate a bed-and-breakfast.

Take a look at these statistics: • Microbusinesses hire more than 40 percent of the overall workers in high-tech fields, including engineers, scientists and programmers (source: Microexec).

• From 2004 to 2010, U.S. microbusinesses (one to four employees) created a net of 5.5 million jobs; large businesses (those with more than 500 employees) lost 1.8 million jobs during the same period (source: GetBusyMedia).

Although not necessarily on the same scale as their counterparts in small- and mediumsize businesses, these microbusinesses do what they do best – create and manage their companies. Yet they also must comply with the same tax and accounting requirements as any size business. The tax man does not differentiate from compliance based purely on the size of the business.

Therefore, it should go without saying that any business that does not comply with these requirements will soon find itself a day late and a dollar short – in fact, many dollars short, because their company will no longer exist. Because microbusinesses are so small, the success or failure of the business has a very immediate and direct impact on the owner.

I think the fact that many microbusiness owners may not even be thinking through basic accounting and tax matters presents a huge opportunity for the accounting profession. These owners should look to their CPAs and accountants for advice on back-office procedures, processes and cloud-based technology, as well as all of

the compliance issues businesses face on a regular basis.

But, like anything in life, you don’t know what you don’t know, so even the tiniest of microbusinesses must meet a wide range of compliance issues. Again, think about the avid collector selling a Honus Wagner trading card or a stay-at-home mom selling her grandmother’s pottery. This is where the accountant can help the owner sort out the details to ensure accuracy, with guidance on collecting and paying sales tax in a timely and accurate manner; limiting audit exposure by creating, validating and storing exemption certificates; facilitating online 1099 reporting; payroll tax compliance; and employee expense reporting. The list goes on and on.

If you’re wondering where to find your prospects, that’s easy. Owners on the higher end of the $5 million range set up shop in coffeehouses, attend the same networking functions and seek small business loans to finance their operations. Owners on the lower end may stop for a cup of Java but are often harder to spot.

Finding and securing these owners as clients is a matter of doing what accountants have done since Day 1. Exchange referrals with your current clients, attend public networking events, join LinkedIn groups to participate in conversations, and stay awake and aware of any opportunity that may come your way.

While you never know where the next great client will come from, microbusiness owners need you. Find them and be proactive about working with them. It’s a win-win for everyone.

Marshal Kushniruk is executive vice president of global business development at Avalara, a leading provider of cloudbased software delivering compliance solutions related to sales tax, VAT and other transactional taxes. Contact him at marshal.kushnirik@avalara.com.

STATEMENT

PUBLIC PRACTICE/A&A What to expect from the PCAOB in 2016

BY E DI TH O R EN STE IN , CPA In remarks at the Public Company Accounting Oversight Board’s recent Standing Advisory Group meeting, PCAOB Chairman Jim Doty indicated further evolution may be afoot next year as the PCAOB completes an introspective look at its own standards-setting process.

“Behind the scenes,” Doty said, “we have also been working closely as a board as well as with our colleagues at the SEC on advancing the many important initiatives in our standards-setting agenda.”

“Both the Board and staff organizationwide have devoted considerable effort to our review of our standards-setting program this year,” said Doty,

In mid-December, the PCAOB approved a new rule that requires the disclosure of the name of the audit engagement partner and the names of other audit firms involved in the audit. Read more at MACPA.org/AuditPartner.

STANDARD-SETTING PROCESS “While most of this work is behind the scenes,” Doty added, “I believe you will see the fruits of these efforts in our standards-setting program in 2016.”

There was some spirited discussion, led

by SAG member Richard Murphy, about the extent to which the PCAOB sought to discern and document SAG members’ views, in particular any recommendations of the SAG or consensus positions, including a question from Murphy as to whether the chairmanship of the SAG should fall on one of its members rather than the PCAOB’s chief auditor. (Note: This suggestion can be viewed as a parallel to the FASB Private Company Council, which is chaired by a PCC member appointed by the Financial Accounting Foundation, who works in close coordination with a liaison from the FASB board.) PCAOB staff noted that there were not always consensus positions among the SAG, but the SAG was used as a sounding board of expert views of its various constituencies.

Together with its internal review of its standard-setting process, Doty told the SAG, “In 2016, we plan to make a thorough review to examine whether there are additional ideas or changes that should be pursued to make the most effective use of this body and of your time and advice.”

He encouraged SAG members to actively provide feedback on the SAG process.

JANUARY 2016

2016 RULEMAKING ACTION EXPECTED

At least four rule proposals or reproposals are expected to be considered in 2016, as outlined by Doty, who told the SAG that “next year, we should be in a position to issue” proposals on: • The auditor’s reporting model.

• The use of other auditors.

• Fair value measurements.

• The use of specialists.

“These are all topics that have benefited from your counsel, as well as the counsel and support of the SEC staff,” Doty added.

Further detail can be found in the PCAOB’s standard-setting agenda (updated as of Sept. 30, 2015). As noted in that agenda, two staff consultation papers are also contemplated, with one on going concern planned for release by March, and another one on quality controls planned for a later date.

POST-IMPLEMENTATION REVIEW OF AS7, EQR Separately, the PCAOB, through its Center for Economic Analysis, has kicked off the auditing standard-setters postimplementation review process, with the first standard undergoing review being Auditing Standard No. 7 on engagement quality reviews (EQR).

“We will soon publish a request for comment on how engagement quality reviews have worked and whether they have made a difference,” said Doty, adding that feedback from constituents will be considered along with work conducted by the CEA, which has been examining the existing literature and organizing data on these reviews gathered through the inspections process.”

INTERNAL CONTROL OVER FINANCIAL REPORTING Although not on the PCAOB’s standardsetting agenda, questions were raised during the SAG meeting about the integrated audit of internal control over financial reporting conducted with the audit of the financial statements, and recent developments relating to PCAOB inspections and feedback between auditors, company management, the PCAOB and the SEC on this subject.

SAG member Doug Maine, limited partner and senior advisor with Brown Brothers Harriman & Co., called attention to PCAOB inspection results that appeared in a PCAOB Audit Committee dialogue posted in May, in which the PCAOB showed that the percent of deficiencies inspectors found in audits of internal control over financial reporting (i.e., deficient audit procedures, not that there was necessarily a deficiency in internal control) more than doubled, from a 15 percent deficiency rate in 2010 to 39 percent in 2013.

“This seems like a three-alarm fire to me,” Maine said.

Doty responded that “the inspection process has driven for and achieved consistency” in ICFR audit procedures carried out by auditors. “We’ve had a lot of talk with the firms,” he continued, and indicated that communication among all parties — including especially auditors, company management, and the audit committee — could be improved for a

27

PUBLIC PRACTICE/A&A better understanding of what is expected with respect to ICFR. Referring to the SEC’s chief accountant, Doty said, “Jim Schnurr and I have tried to make a special effort to meet with preparers. We have met with preparers, audit firms, groups of CFOs and others; that’s going to be an ongoing process.”

Doty then stressed regarding ICFR:

several

things

“It’s clear that communication between audit firms and management of companies could improve. It could be better communication why an internal control audit needs to be changed from previous years. Those meetings and discussions will bear fruit at a panel at the AICPA meeting in December.” (This appears to be a reference to the upcoming AICPA National Conference on Current SEC and PCAOB Developments, taking place Dec. 9-11 in Washington, D.C.) “Also, not to suggest firms are doing worse

in this area, it is a continuing instructional support for good auditing that we have an integrated audit of internal control and financial reporting. I think management is coming to believe that to recognize the importance that good internal control is well understood in the C-suite.”

“If you don’t think your auditor is looking at internal controls and you can’t discuss what they are looking at, you need to get a new auditor.”

“It’s clear we are getting better results (on inspection of ICFR audits) than in 2013.

It’s not uniform; that’s why we say in our reports, no one should make conclusions about the quality of firms overall or industry.”

Chief auditor Marty Baumann added, “You’ve touched on a key item, getting a lot of dialogue among us, the SEC, preparers and auditors.”

SEC Deputy Chief Accountant Brian Croteau, an observer at the SAG meeting,

said, “I share your concerns,” noting that ICFR is “an area that from the SEC staff perspective, we have been spending a significant amount of time on.”

“I don’t think what you are seeing in PCAOB inspection reports is (just) an audit issue. I refer you to Chief Accountant Jim Schnurr’s remarks a month ago, that lay out a start,” said Croteau. (See our summary of the chief accountant’s speech last month in an earlier post in the CPA Success blog, “SEC Chief Accountant Urges More Dialogue Between Audit Committees, Management and Auditors.”)

In another veiled but likely reference to the upcoming AICPA conference in December, Croteau closed, “We will continue working with the PCAOB soliciting feedback, and through public remarks, you will hear more.”

Edith Orenstein, CPA, is a contributor to the MACPA’s blog, CPA Success.

Lucy suffers from MSTS. Manual Sales Tax Syndrome (MSTS) is treatable.

Ask your accountant about AvaTax today.

Find out if Avalara AvaTax™ is right for you:

www.avalara.com/macpa

28

WARNING : Some side effects of AvaTax implementation are common and well documented. These include, but are not limited to: greater sense of ease and well-being, significantly reduced risk of penalties and interest in the event of an audit, greater focus on profit-making activities, more free time to enjoy the things you love — including family and friends. If you experience any of these very common side effects, contact your accountant immediately.

STATEMENT

Attention CPAs:

Whether A Decision Maker Looking To Upgrade Your Talent, Or A CPA Looking to Upgrade Yourself/Your Skills, Ask Yourself: Who really chose who in joining your company?

Are you/your professional staff really at the right level where you should be/you need them to be?

Are you/your staff in a position that truly suits your/their personality, values, and professional and personal needs?

Why leave your future to chance?

If you’re seriously interested in making the “right” move for your next hire, I can help you.

I am an actively licensed CPA in Maryland and Virginia with over 20 years of experience including public accounting (E&Y) and consulting (KPMG), financial accounting (American Cancer Society), internal audit (Moneyline Telerate), and recruiting (Acsys, formerly Don Richards). As a networker who truly enjoys helping others and sharing my career experiences to guide fellow professionals, here is how I can help you: Decision Makers:  Ask you questions, and most likely ask many more questions than other recruiters about your company, duties involved, skills required, corporate culture and more  Work with you on finding the “right” professional that is the “right fit”  Provide you with valuable information about the professionals I work with, the marketplace, what your competitors pay, and more Career Seekers:  Guide you on career paths available in public accounting and industry  Enable you to capitalize on your strengths  Coach you on how to put your best foot forward to find the “right fit”  Advise you when to stay in your current position if that is the right move If you’re interested in working with a recruiter who understands your background, skills, and is genuinely interested in helping you find the “right fit”, then I welcome meeting you!

BETH A. BERK, CPA, CGMA

Independent Recruiter

Phone: 301-767-0670 Email: BethABerk@msn.com

Specializing in CPA Firm, Accounting & Finance Positions in Metropolitan DC & Nearby Suburbs/Baltimore/Richmond/Tidewater Connecting You To Your Next Hire

TM

Contingency & Retained Staffing Solutions

matching skills, experience & values with needs

Serving clients and professionals as an Independent Recruiter since March 2005

PROPOSED BILL TO TAKE AIM AT FRAUDULENT TAXPAYERS B Y B I L L S H E R IDA N , CA E

Maryland Comptroller Peter Franchot plans to introduce legislation in January that he says will help his office protect taxpayers and mete out stronger punishment to those who commit tax fraud.

Called “The Taxpayer Protection Act,” the proposed legislation “will allow my agency to keep pace with rapidly-increasing fraud schemes and fast-changing threats to sensitive data,” Franchot said.

the first 10 months of 2015, they found more than 18,700 bogus returns seeking more than $38.3 million.”

In response, legislation would:

the

proposed

• change major tax crimes from misdemeanors to felonies; • lengthen the statute of limitations for tax crimes from three to six years;

Franchot announced the proposed legislation at the MACPA’s annual Comptroller’s Luncheon in December.

• add a penalty for fraudulent tax return preparers;

The announcement comes at a time when tax fraud in Maryland is more widespread than ever.

• make it a felony for trying to “evade or defeat any tax imposed under the Tax General Article” and impose a penalty upon conviction; and

“Franchot said that when he took office in 2007, his team uncovered about 300 fraudulent returns seeking $656,000 in refunds that belonged to someone else,” writes Baltimore Sun reporter Erin Cox. “In

• provide legal authority to issue injunctions against preparers under investigation for fraud to protect consumers while investigations are ongoing.

30

“Our office has always been committed to protecting Maryland taxpayers from fraudulent tax preparers and dedicated to protect the data that we’ve been entrusted to monitor,” said Deputy Comptroller Sharonne Bonardi. “Recent data breeches have left us concerned that Maryland taxpayers may be more exposed to potential fraud. We want to enhance our toolkit so that we have more tools for enforcement and detection purposes.”

VIEW FROM THE MACPA Members of the MACPA’s State Tax Committee are praising the proposal “in concept” while reserving final judgment until they can review the bill’s language in its entirety.

“The overall concept is very good,” said Jerry Beard, CPA, a supervisor in the Tax Department at Ellin & Tucker, Chartered, and chair of the MACPA’s State Tax Committee. “The Maryland statutes right now don’t have a lot of deterrent in that STATEMENT

most of the so-called tax fraud qualifies as a misdemeanor. To have bigger penalties for the people who are perpetrating these crimes is a great idea.”

“MACPA members see literally dozens of clients who are impacted by identity theft and fraudulently filed returns each year,” added Karen Syrylo, CPA, a director with Altus State and Local Tax and Advisory and a member of the State Tax Committee. “The Comptroller’s idea of finding and punishing the people who are committing these acts of fraud on honest citizens is something we definitely support in concept.”

MACPA Executive Director Tom Hood, CPA, also said the proposed legislation has significant merits.

“We hope to support this important legislation, as our members have indicated more and more concerns about identity theft and fraudulent tax preparers over

the past year,” said Hood. “The statistics on the rise in fraud involving taxes are mind-boggling. That kind of unscrupulous activity creates a significant burden on our members who are helping taxpayers comply with income tax laws.”

Syrylo said the Comptroller’s Office understands the important role that certified, ethical tax preparers play in Maryland’s economy and is committed to working with the MACPA to ensure that the bill accomplishes its goal — punishing fraudsters and protecting taxpayers — without any unintended consequences that might negatively impact Maryland CPAs. She said that, at the request of the Comptroller’s Office, members of the MACPA’s State Tax Committee will review the language of the bill and offer suggestions to the comptroller’s staff if any changes are needed.

Bonardi welcomes the feedback while emphasizing that the Comptroller’s Office

draws a bold, distinct line between Maryland’s CPAs and those who seek to defraud the state’s taxpayers. “(Fraudulent tax preparers) are, of course, not certified preparers and often are not registered to prepare tax returns in Maryland,” she said. “We want to deter these bad actors and make the distinction between them and Maryland CPAs. We don’t see that this (legislation) would have any negative affect on MACPA members.

It would encourage taxpayers to seek assistance from accredited, certified tax professionals and protect them from those who are not.”

The MACPA will provide further details as the association’s State Tax Committee reviews the proposed legislation.

Bill Sheridan, CAE, is chief communications officers for the Maryland Association of CPAs and editor of The Statement.

Accounting, Administrative DEVELOP YOUR BEST TEAM. Practice, Auditing, Business Law, Business Mgmt & Organization, Communications, Every course in the Business Learning Institute Course Catalog can be customized for your organization and brought on-site to your office.

BLI instructors are known for their expert knowledge (each teaches his or her own curriculum), but also for their engaging personalities.

GOOD STAFF TRAINING ISN’T BORING.

Strategic learning to move careers forward.

TRAINING FOR THESE SKILLS CATEGORIES Accounting Administrative Practice Auditing Business Law Business Mgmt & Organization Communications Computer Science Economics Ethics (Behavioral JANUARY 2016& Regulatory) Finance

Leadership Marketing Mgmt Advisory Services Personal Development Personnel/HR Social Environment of Business Specialized Knowledge & Application Taxes

See the full course catalog online at

BLIonline.org/catalog Or request a printed version by calling our Customized Learning Solutions team at 1-888-481-3500.

31

LEADERSHIP Six capabilities of transformational leaders B Y SA M A NTH A W H ITE

Editor’s note: This article first appeared in CGMA Magazine. For more articles, sign up for the weekly e-mail update from CGMA Magazine at http://bit.ly/UZ07NC.

Increasingly complex demands are being placed on leaders as social change, shifts in the global economy, resource scarcity, and technological advances disrupt longstanding business models. Leaders are being called upon to create new ways of working to meet these challenges and to drive cost reduction without destroying value.

Yet less than 10 percent of senior management have the capabilities and experience required to bring about this type of transformational change, according to a study of 6,000 leaders conducted

by Harthill Consulting in collaboration with PwC. It’s not just tenure that counts, and the skillset needed for successful transformation is different from that needed to excel in the day-to-day running of a company or to thrive in a crisis.

The research describes 52 percent of current senior management as “achievers.”

This type of leader is action- and goaloriented and well-suited to managerial roles. He or she is able to juggle managerial duties and market demands, as well as achieve strategic goals efficiently, through his or her team.

However, solving direct challenges to business-as-usual calls for a different type of leader with different attributes.

The “strategists” who are capable of leading successful transformation in a complex business environment possess a multifaceted way of looking at the world,

32

an ability to reflect on and learn from each experience, and the humility to enquire rather than advocate and engage instead of command.

Strategists can articulate a vision for the future of an organization while also ensuring it runs effectively in the present.

They also create opportunities for others to thrive.

THE 6 CAPABILITIES According to the researchers, strategists possess the following capabilities: • A fresh perspective. Being able to see a situation from a number of perspectives can generate new approaches and therefore promote innovation and problem-solving.

• The ability to act on the big and small picture. Leaders must be able to provide vision and direction, as well as get involved in detailed action where necessary.

• Passionate detachment. Leaders must balance passion for their mission and objectives with the detachment to weigh situations objectively and change course when required.

• Creative use of power. Whether it be formal, informal, institutional, or personal power, using it wisely builds long-term commitment and trust amongst peers, employees, and other stakeholders.

• Positive use of language. Strategist leaders use language with skill and awareness to inspire and influence, with the clear goal of creating positive outcomes.

• Leading with vulnerability and courage. Effective leaders have the

courage to make tough and potentially unpopular decisions. Meanwhile, vulnerability, a characteristic less common amongst leaders, is crucial to enabling others to both take responsibility and give frank, honest feedback.

Such leaders are in short supply, and few have emerged over the past decade.

Research conducted in 2005 classified 7 percent of all senior managers as strategists, and the figure for the 2015 survey was 8 percent.

The research also indicates that strategists are often to be found working in consultancy or advisory roles, and may be reluctant to work directly for an organization, particularly if it relies on hierarchical management structures. In this context, organizations need to do more to attract, retain, and develop the type of individuals capable of taking their business forward.

HOW TO DEVELOP AND RETAIN TRANSFORMATIONAL LEADERS Drawing on best practices observed in the study, researchers suggest organizations take the following steps to develop transformational capabilities: 1. Distribute responsibility. The first step to developing this type of capability is distributing responsibility downwards and outwards, enhancing the organization’s adaptability, resilience, and intelligence as a whole.

2. Be realistic about the quality of information.

Be aware of and acknowledge the limitations of available data.

STATEMENT

LEADERSHIP 3. Build an empowering collective culture. Turn shared aims into behavioral norms across the organization.

4. Invest in professional development opportunities.

To develop transformative leaders, life coaching, action learning, and reflective thinking should be prioritized.

5. Recruit for transformation. Prioritizing the attributes of transformative leaders right from the recruitment and onboarding processes helps create the conditions they need to thrive and ensures cultural fit.

6. Address conflict and failure openly.

In successful transformations, there is a culture of experimentation in which failure is seen as a necessary part of the development process. Some companies

in the study discuss unsuccessful projects, identifying what went wrong and what lessons can be learned.

Other organizations in the study have developed forums in which colleagues can discuss the personal aspects of any conflicts that arise.

TAKE A HOLISTIC VIEW OF EMPLOYEES Those organizations defined by researchers as strategists demonstrate their concern for their employees’ overall well-being with policies such as life coaching or on-site child care. Other approaches include: • Build strategy collectively. Many strategist organizations have defined methods of working collectively on business strategy. The theory is that anyone who shares responsibility for

execution of the strategy should get a say in its formulation.

• Prioritize reflection. All staff should set time aside for unstructured reflection on a regular basis.

• Tone from the top. For strategists to grow and develop at all levels of the organization, senior leaders must also embody these values.

Samantha White (swhite@aicpa.org) is a CGMA Magazine senior editor.

Copyright © 2011-2015 American Institute of CPAs. Copyright © 2011-2015 Chartered Institute of Management Accountants. All rights reserved.

Hear that? It’s opportunity knocking.

What matters most to your firm? Chances are, building strong client relationships is at the top of your list.

ADP’s proprietary payroll processing solution helps keep your clients happy while turning payroll into revenue and a valuable retention tool. Simple pricing, dedicated support and custom reporting helps cut down on your workload — so you can be on the lookout for opportunities to build your business.

See how ADP® can provide a more human resource for your small business clients: adp.com/wholesale JANUARY OCTOBER 2016 2015 The ADP logo and ADP are registered trademarks of ADP, LLC. ADP A more human resource. is a service mark of ADP, LLC. Copyright © 2015 ADP, LLC.

33

DATE

COURSE TITLE

CPE

TIME

MEMBER

NON-MEM EVENT ID

LOCATION

MACPA COULDN’T DO EVERYTHING THAT WE DO FOR OUR MEMBERS WITHOUT OUR PREFERRED PROVIDERS & PREMIER SPONSORS Exclusive Preferred Providers

The Business of Better

Preferred Providers

Premier Silver Sponsors

Premier Bronze Sponsors

For information about sponsoring MACPA programs or to learn more about advertising with the MACPA please contact Andrew Hood at 443.632.2323 or andrew@macpa.org.

TAX CORNER New communication, education tools available as tax season arrives F RO M T H E A ICPA A N D THE M A C PA As federal budget cuts, tax extender debates, and IRS customer service headaches threaten to turn 2016 into another tax season from hell, the MACPA and the American Institute of CPAs are lining up the resources that can help CPAs weather the storm.

TAX LISTS: ANSWERS TO YOUR QUESTIONS Topping the list is the MACPA’s federal and state tax listservs. Members use the lists to post questions and answers and share advice with fellow Maryland CPAs throughout tax season and beyond. The lists are so effective at delivering solutions to pressing tax-related problems that members consistently cite them as one of our most popular member resources. Sign up and get started at MACPA.org/Groups.

TAX CPE The MACPA’s education team has put together a lineup of cutting-edge, up-tothe-minute CPE that covers the latest issues and updates on the tax front.

Check out all of our tax programs at MACPA.org/Tax. AICPA TAX PRACTITIONER’S TOOLKIT The Tax Practitioner’s Toolkit (AICPA.org/ tax-toolkit) will help you establish yourself as a leading provider of tax services, all year long.

The Toolkit includes a number of resources to help you conquer concerns about the Affordable Care Act, tax season, and extensions.

• Many employers are unclear on their ACA obligations as new rules and penalties take effect. Help answer questions about what they need to

JANUARY 2016

do to comply with Small Business ACA FAQs. • As the threshold for “large employer” will soon drop to 50 fulltime and full-time equivalents, some may be surprised to find that certain rules apply to them. It’s important to make sure clients are aware of the definition of a “large employer” under the ACA law. That’s easy to do with the new brochure, Do I Need to Provide Insurance? Meanwhile, individual clients need to be aware of how the ACA may affect them, as the penalty for lacking coverage is slated to increase. The Toolkit includes a twopage summary and detailed FAQs. • In addition to the ACA, clients will have questions about which tax laws will affect them. Educate them with the Tax Law Snapshot, which highlights key provisions and discusses tax-saving tips and small business concerns. If information to complete a return is not available in time for April 18, educating clients about what a tax extension means is also important.

EASY WAYS TO RAISE YOUR PRACTICE’S PROFILE Within the Tax Practitioner’s Toolkit are customizable materials intended to help you reach potential clients, and be ready for business opportunities that can present themselves at any time.

the Year-End Tax Planning PowerPoint and modify it with local- or statespecific information. (Bonus tool: Review the Event-in-a-Box checklist for presentations to make the logistics easier.)

• What can you say or send as a follow up to someone who asks what you do? Send them a brochure about how you can help them prepare for life’s important moments with year-round services.

• Tweet and be tweeted: It’s easy with more than 100 ready-to-go tax tweets like this one: What can loss harvesting do for you? Ask your local CPA if it makes sense to help reduce your #taxbite. You can repurpose these for use on LinkedIn and Facebook.

• Be a resource for your local and regional media. Modify and send the included media release that addresses filing season issues. Review these tips for media interviews to get started.

The Toolkit’s many resources will help you reach consumers in a variety of ways, educate your clients, streamline your work, and respond to opportunities to promote your expertise in the media and public. Visit it today to grow your referrals and make this your most successful tax season yet.

You will find the AICPA.org/tax-toolkit.

Toolkit

at

• Many groups in your community would welcome an expert speaker like you (or your staff) to bring them up to speed on tax changes. Use

35

PROFESSIONAL DEVELOPMENT Strategies for investing and protecting client assets take center stage at MACPA’s 30th Advanced PFP Conference B Y SE T H H A MM E R, CPA , P H. D. Speakers at the MACPA’s 30th annual Advanced Personal Financial Planning Conference in October presented a variety of valuable insights and strategies for addressing a wide range of challenges facing taxpayers and their financial advisors.

Some key highlights from those presentations are discussed below.

ASSET CLASS INVESTING Mark Fonville of Loring Ward discussed some key distinctions between a passive investment strategy centered on asset classes versus a plan using more traditional index-based investments.

Fonville noted that traditional index funds typically incur real (but not necessarily clearly identifiable) costs each year when an index undergoes its annual reconfiguration. If, for example, a small stock index announces that it will be adding certain stocks to its listing at its annual reconfiguration date, such an announcement may cause a detriment to investors in the underlying index fund by generating an uptick in their prices prior to the date of purchase by that fund. Alternatively, a passive approach that focuses broadly on asset classes but is not locked into purchasing or selling at a particular date may, by reconfiguring throughout the year, be able to mitigate the costs associated with maintaining its designated composition (e.g. small caps).

A second distinction of asset class investing includes the ability to include a much larger number of stocks within a segment, potentially improving portfolio diversification. Other considerations for asset class investing, beyond the composition of assets within a class, include the weighting of asset classes and, for bonds, the application of duration limitations in conformity with academic evaluations of the efficient frontier.

JANUARY 2016

ASSET PROTECTION Maurice Offit of Offit Kurman described a variety of practical techniques that clients may employ to protect their assets from seizure in a lawsuit.

not expect a change in tax liability to result from the decanting process. Depending upon the individual situation, however, it may be advisable to consider seeking an IRS private letter ruling.

Basic techniques for asset protection discussed included the holding of general liability, umbrella, and employment practice liability insurance. Offit advised, however, that while insurance provides an important first level of defense, such policies may potentially be inadequate to prevent the legal seizure of a client’s assets. He further advised that a potential defensive strategy to protect against the failure or inadequacy of insurance would be for the client to have more than one corporation or LLC hold the company’s assets. If, for example, one company is sued, the assets that are held in the other companies may still remain beyond the reach of potential liens.

PRACTICE MANAGEMENT: PLANNING FOR THE NEXT GENERATION In a practice management session Tom Hood, executive director and CEO of the MACPA, presented an interactive discussion explaining the distinctions between the attributes of the different generation groups and the challenges for firms employing an evolving workforce.

More advanced techniques discussed

by Mr. Offit included methods of titling assets between spouses and potentially creating exempt assets through the use of retirement accounts, life insurance and annuities.

DECANTING A TRUST Kevin Bress of Pessin Katz Law discussed the so-called “do-over” technique, decanting, which is increasingly being used to alter and adjust irrevocable trusts.

Modifications of an existing trust may be desirable for a variety of reasons, such as ambiguity in the document, changes in tax laws, and changes in family circumstances.

Decanting opportunities for trusts may, however, vary by state. In Maryland, Bress noted, the Maryland Trust Act, passed in 2014, codified much of the state’s common law. Nevertheless, there continues to be no statute that specifically addresses the decanting of a trust. As a general proposition, according to Bress, one would

One key and potentially formidable challenge for such employers may include a millennial perspective that may not regard employers as likely providing realistic opportunities for long-term employment.

Further, in an apparent break with their Baby Boomer generation counterparts, many millennials appear not to find long and fixed work hours as a reasonable trade-off for the compensation and career opportunities currently offered by their employers.

Hood emphasized that for this new generation of employees, a firm’s ability to provide flexibility and meet expectation to provide a reasonable work-life balance may be crucial for employers seeking to retain and develop them.

Other presentations included Blue Angels Commander Greg “Boss” Wooldridge on “Flying in Formation,” Laura Malone of the American Endowment Foundation on “Charitable Strategies to Help Create and Protect Legacy,” and Farley Shiner of Sterling Capital Management, who presented an economic update.

Seth Hammer, CPA, Ph.D., is a professor at Towson University.

37

What is NYPN? Young professionals are faced with unique challenges – passing the exam, navigating career paths, and finding a place in the profession.

That’s why in 2003, the MACPA created its first young professionals network. Since its inception, the New / Young Professionals Network (NYPN) has been engaging young CPAs in Maryland with opportunities for professional development, networking, and volunteerism. Learn more at macpa.org/NYPN.

UPCOMING EVENTS CPA DAY FOLLOWED BY SPECIAL NYPN CPE SESSION & HAPPY HOUR January 21st | Annapolis, MD CPA DAY | 7:30 AM – 1:30 PM Special interest groups continue to work against the CPA profession - on sales tax on services, and on increased liability from changes in tort laws - which could increase the number of frivolous cases and, in turn, increase the cost of goods on services. CPA Day gives us the opportunity to let our united voice be heard on these subjects and more. Come out and help us advocate for the CPA profession. You will get a free briefing on what CPAs need to know about MACPA advocacy, along with an update on the Maryland legislature and regulatory environment - worth two free hours of CPE. Plus, you are invited to lunch with your legislator in the afternoon.

NYPN CPE SESSION AND HAPPY HOUR | 1:45 – 6:00 PM After enjoying lunch with your legislators, stick around for another 2 hours of free CPE as MACPA past chairs and board members share their career advice in a roundtable discussion. Then, join us at Galway Bay Irish Pub for happy hour. As always, apps are on us! For more information, visit macpa.org/nypncpaday.

NYPN LEADERSHIP CHAIR: Stephen Hohne, CPA, USALCO VICE CHAIR / CHAIR-ELECT: Kuo Lee, CPA, CrossCountry Consulting PAST CHAIR: Debra Hale, CPA, Weil, Akman, Baylin & Coleman, P.A. COMMITTEE MEMBERS: Jennie Hammett, CPA, Gorfine, Schiller & Gardyn Barrett Young, CPA, The Green Abacus Kathryn Koza, CPA, Grant Thornton, LLP Harry Sturgis, CPA, Weyrich, Cronin & Sorra Chtd.

38

STATEMENT

MEMBER SERVICES WELCOME, NEW AND REINSTATED CPA CANDIDATE MEMBERS! CAPITAL AREA CHAPTER MAURICE ANICHEBE SR, MS MARSHA A. BAKER MISTY BITTINGER ZACHARY COHEN CARLOS MAX PHILLIP D. MILLS ANKUR N. SARIN ALEX SCOTT YUCHIU YEUNG YEUNG

CENTRAL MARYLAND CHAPTER CARA A. CAPECE MYIESHEA J. DILLON BERNITA Y. JAMES VICTOR M. PAIVA JEFFREY B. RUBIN SHERRIE L. WILLIAMS BRENDA E. WOODS

EASTERN SHORE CHAPTER BRETT A. CONRAD SOUTHERN MARYLAND CHAPTER MICHAEL D. FLINCH OUT OF STATE MICHAEL HARDYMAN

WELCOME, NEW AND REINSTATED MACPA MEMBERS! ANNE ARUNDEL CHAPTER CODY CHAN, CPA EILEEN CHIU, CPA STEVEN R. COLLINS, CPA MIKE J. MUSSOG, CPA FRANKLYN D. NEVERS, CPA NANCY SALISBURY, CPA ELENA TRUSKOVA, CPA DAVID G. WEST, CPA

CAPITAL AREA CHAPTER RONALD F. BUSCH, CPA VARUN DHAWAN MR., CPA GARY P. EHRLICH, CPA CYNTHIA N. EKEMBA, CPA DANIEL L. GORDON, CPA MAURICE S. HAMILTON, CPA NORIKO JONES, CPA ROBERTA C. MILLER, CPA KASRA MOJTAHEDI, CPA ANDREA J. MONTALI, CPA HONGHAI MU, CPA ANJALI R. PHUKAN, CPA PETER R. REGIS, CPA DAVID A. ROPER, CPA LAURA D. SZYMANSKI, CPA

CENTRAL MARYLAND CHAPTER BERNARD AKROFI, CPA YVONNE S. APPIAH, CPA

40

ALLYSE L. BANKARD, CPA DEBORAH R. BATEMAN, CPA ERICA M. BEAUMONT, CPA DINA K. BROWN, CPA JOHN K. BUNTZ, CPA SHEILA D. CANELOS, CPA RYAN M. CAWLEY, CPA QUTIN DAVIS, CPA GABRIEL DELRAHIM, CPA QIAN DENG, CPA DENISE L. DODSON, CPA LISA M. DOOLEY, CPA MURALIDHARAN ELAMBILAN, CPA BRIANA ELLIS, CPA MARY K. FEDERICO, CPA RYAN FIORE, CPA MAXINE A. GIVEN, CPA BERANDETTE I. HARRIS, CPA CHARLES B. HUBBERT, CPA DELMY J. JAGHAB, CPA YOUFENG JIANG, CPA PHILLIP KALLAL, CPA STEPHEN N. KARAS, CPA CHRISTINA LAWSON, CPA, MSA JAEWON LEE, CPA SARAH E. LIEB, CPA BRANDON M. MILLER, CPA KYLE R. MILLER, CPA KORI N. PITTS, CPA JOELLEN R. ROBINSON, CPA

MARK A. ROSSBACH, CPA JOSEPH A. SCLAFANI, CPA, MBA KEITH R. SEELEY, CPA STEPHANIE N. SOARES, CPA ANDREA TEDROW, CPA KATIE J. THOMAS, CPA HARRY THOMASIAN JR, CPA JAMES R. THOMPSON, CPA JIA JIA WANG, CPA LINDSEY G. WELSH, CPA JUSTIN L. WHEELER, CPA SUSANNE WOLFE, CPA

OUT OF STATE DAVID L. ADAMS, CPA, MBA MARJORIE DELLUTRI, CPA DEBORAH A. EAVES, CPA RUTHANN M. GREEN, CPA JOSEPH R. MALPASSO, CPA SUSAN D. MCCORMICK, CPA MONIQUE MELEANCE, CPA SUNGRYOUL PARK, CPA KIMBERLY PICONE, CPA LAWRENCE D. SUGAR, CPA KEVIN R. SWATT, CPA STEPHEN TURNER, CPA MARY B. NORRIS, CPA

EASTERN SHORE CHAPTER SHANNON BITTER, CPA CHARLES R. BOSTER, CPA CHRISTINA M. CARRIER, CPA LARISSA DAVIDSON, CPA DAVID J. EMERSON, CPA THOMAS M. HUDSON, CPA KRISTEN KRIEGER, CPA

MID-MARYLAND CHAPTER JOHANN S. DE CASTRO, CPA

STATEMENT

Accounting and bookkeeping professionals P Want to access client data anytime, anywhere?

P Interested in being able to serve more clients in less time?

P Looking to reduce time spent manually entering in data?

Try Sage One Accountant Edition, a simplified online accounting solution offering complimentary access to accountants and bookkeepers.1 Call 1-866-686-1875 ext. 330054 today or visit SageOne.us/Accountants/Comp to set up your complimentary account.

1 For qualified professionals only. To receive and maintain access, you must be an accountant or bookkeeper providing professional services for multiple fee-paying clients. If at any time Sage determines that you are no longer eligible, your access will be terminated.

JANUARY 2016

Š2015 Sage Software, Inc. All rights reserved. 15-00530 7/15

41

MEMBER NOTES R. Frank Abel, CPA / CFF, CFE, CGMA, has been appointed as vice chairman of the Association of Certified Fraud Examiners Foundation Board of Directors. The ACFE Foundation is a non-profit organization that oversees the ACFE Ritchie-Jennings Memorial Scholarship program and works to support the education of collegiate accounting and criminal justice students around the globe.

Sara H. Baker, CPA, a senior accountant in the audit department at Squire, Lemkin + Company, LLP, has earned the CPA designation.

Patricia Bush, CPA, has rejoined Squire, Lemkin + Company, LLP as a tax consultant.

William Coulter Jr., CPA, senior accountant with the tax and audit departments at Squire, Lemkin + Company, LLP, has earned the CPA designation.

Samantha Deangler, CPA, a staff accountant with the tax and audit departments at Squire, Lemkin + Company, LLP, has earned the CPA designation.

Allen DeLeon, CPA, PFS, former chair of the Maryland Association of CPAs’ Board of Directors and founding partner of DeLeon and Stang, CPAs and Advisors, has received the Certified Information Technology Professional (CITP) designation.

James F. Eaton III, CPA, a financial planner with KatzAbosch, has been awarded the Personal Financial Specialist (PFSSM) credential by the American Institute of CPAs. Kim Fitzgerald, AAAPM, has been promoted to director with Squire, Lemkin + Company, LLP. Kim works with the administration of the firm.

Michael Giuffrida, CPA, has been promoted to director with Stegman & Company.

Mickey Golden, CPA, has joined Stegman & Company as a supervisor.

Ron Grodzinsky, CPA, a principal with Rowles & Company, LLP, has been named director of the firm’s Engineering and Architecture Industry Group.

Zach Hylton, a staff accountant with DeLeon & Stang, CPAs and Advisors, has received the Intact Accountant Partner (IAP) certification.

42

Josephine Laleye, CPA, has been promoted to audit manager in the common interest realty sector at DeLeon & Stang, CPAs and Advisors.

Lucas Matesa, CPA, a partner with CohnReznick LLP, has been named among CPA Practice Advisor’s “40 Under 40” for 2015. “40 Under 40” recognizes professionals who are helping lead the accounting profession into the future.

Tracy M. Morey, CPA, has been promoted to director with the audit group at Squire, Lemkin + Company, LLP. Tracy works with the firms audit group specializing in non-profit.

Brian Pleines, CPA, has been promoted to senior accountant with Stegman & Company.

Garrett Queen, CPA, has been promoted to in charge accountant in the business services and tax departments at DeLeon & Stang, CPAs and Advisors.

Will Sasser, an accountant in the audit and accounting department at Gross, Mendelsohn & Associates, has earned the CPA designation.

Dalton A. Tong, CPA, CGMA, MBA, FACHE, FHFMA, has received a National Health Care Services Award from the American College of Health Care Executives. The award recognizes health care executives for their volunteerism and exemplary service to the community. Tong, a former president and CEO of a health care system, is currently on the staff of the Johns Hopkins University Carey Business School. Earlier this year, he was honored with the MACPA’s Educator of the Year award and was a nominee and finalist for the MACPA’s “Men Who Get It” award.

Ana Welborn, CPA, has been promoted to supervisor with Stegman & Company.

Jen Wilcox, a senior accountant with DeLeon & Stang, CPAs and Advisors, has received the Intact Accountant Partner (IAP) certification.

STATEMENT

FIRM NOTES Arthur Bell CPAs has formed Arthur Bell Limited based in Ireland to better serve its international clients. This expansion follows the opening of an Arthur Bell office in midtown Manhattan, the nexus of New York’s alternative investment industry. The formation of Arthur Bell Limited represents a commitment to its clients to deliver more comprehensive service offerings on a global scale.

Bormel, Grice & Huyett, P.A., has been named one Accounting Today’s “Best Accounting Firms to Work For.” The firm is one of six Maryland firms to earn a top 50 ranking.

Councilor, Buchanan & Mitchell’s second annual School Supplies Drive resulted in a 66-percent increase in donations over last year, reaffirming the company’s goal of continually growing its community service. CBM partnered with RevereBank, which allowed the firm to offer three collection locations (at CBM’s offices in Bethesda and Washington, D.C., and at RevereBank in Gaithersburg), affording the firm the opportunity to collect even more donations from around the community.

DeLeon & Stang, CPAs and Advisors, has been named one of Accounting Today’s ”Best Accounting Firms to Work for” in the small firms category. The firm took the 52nd spot on the prestigious list.

The Gaithersburg-Germantown Chamber of Commerce has inducted DeLeon & Stang, CPAs and Advisors, into its Hall of Fame as part of its annual dinner and awards ceremony.

Celebrating its 50th year, the GGCC honored organizations that have made significant contributions of time, talent and service to the Chamber over the last three years.

Gross, Mendelsohn & Associates, P.A., has been named one of the Baltimore Sun’s “Top Workplaces” for the fourth consecutive year. The award honors Baltimore-area businesses that offer outstanding work environments for employees.

Employees with Gross, Mendelsohn & Associates, P.A., recently spent three days volunteering at Maryland SPCA, Maryland Food Bank and Stop Hunger Now. More than 50 employees participated in the firm’s annual community service projects.

HeimLantz CPAs and Advisors has been named one of the Best Accounting Firms to Work For by Accounting Today. The firm took the 24th spot on the prestigious list.

Hildebrand, Limparis & Associates, P.C., merged into Santos, Postal & Company, P.C., effective Nov. 1, 2015.

Smith Elliott Kearns & Company, LLC, has been named a national leader in INSIDE Public Accounting’s sixth annual ranking of the nation’s largest accounting firms, the “IPA 200.”

IN MEMORIAM Robert F. Dombrowski, CPA, MBA, DBA, an MACPA member since 1989 and a former member of the MACPA’s Scholarship Committee, has died. He was 72.

DON’T MISS THE FULL LIST OF UPCOMING CPE COURSES Page 46 JANUARY 2016

43

CLASSIFIEDS mergers & acquisitions QUALITY CPA FIRM WISHES TO ACQUIRE MARYLAND PRACTICES FOR SALE: PRACTICE OR ACCOUNTS in Baltimore/Washington/ Baltimore Suburb Tax & Accounting Practice–gross

NW of $410K.

Annapolis area, or possible association with retirement-minded

Cash flow to owner 40%. 30% accounting, 40% tax, 20%

practitioner. “Top Dollar Paid.” Reply in strictest confidence to

payroll/bookkeeping, quality client base, consistent growth,

410.539.7100, or File No. 63-87.

knowledgeable staff to assist with transition. For practice details call 1-800-397-0249. Or, visit us at www.AccountingPracticeSales.

SANTOS POSTAL & COMPANY, PC, a nationally recognized CPA firm located in Rockville, MD, is enhancing its

com to inquire about available opportunities and register for free email updates.

organic growth through the acquisition or merger of existing practice or accounts in the Washington metropolitan area. Reply

office space

in confidence to File No. 28-91.

THINKING OF SELLING YOUR PRACTICE? accounting practices in North America. We have a large pool

PROFESSIONAL OFFICE SPACE IN HEART OF TOWSON AVAILABLE FOR SUBLET.

of buyers, both individuals and firms, looking for practices to

Use of conference room, waiting area, internet, copier.

purchase. We also have the experience to help you find the right

Contact ken@kenpragercpa.com.

Accounting Practice Sales is the leading marketer of tax and

fit for your firm, negotiate the best price and terms and get the deal done. We welcome the opportunity to talk to you about our risk-free and confidential services.

For more information

please call Bradley Holmes with the APS Holmes Group at 1-800397-0249 or email Bradley@apsleader.com.

SUBURBAN MD CPA PRACTICE

Retirement

GIVE YOUR COMPANY VALUABLE EXPOSURE TO NEARLY 10,000 MACPA MEMBERS BY ADVERTISING YOUR CLASSIFIED AD IN THE STATEMENT.

minded CPA (former Deloitte) with practice grossing $200K looking to associate with seasoned CPA having at least 10 years client contact and experience. Association will lead to favorable acquisition time frame and terms. Unqualified Peer Review in 2014. Professional practice with significant consulting revenue and NO payroll or bookkeeping.

Very profitable.

DIRECT

INQUIRIES IN STRICT CONFIDENCE TO: AmyM@macpa.org.

NO BROKERS.

RETIRE/SEMI-RETIRE NOW!

Towson CPA-looking

to grow my quality client base by acquiring some or all of your accounts ASAP so you can retire now or semi-retire & work slowly towards retirement. Call me now so we can start discussions.

Nick:443-765-2775.

44

How to Submit a Classified Ad

To submit a classified ad, please visit macpa. org/submitclassifieds, or contact Amy Moran at 443.632.2319, or by email amym@macpa.org.

CONFIDENTIAL ADS: Replies to confidential ads should be addressed to the file number in care of: Amy Moran MACPA 901 Dulaney Valley Road, Suite 800 Towson, MD 21204 Properly addressed replies will be forwarded to the advertiser unopened. Replies that are not properly addressed will be opened only to determine contents and then forwarded to the advertiser.

STATEMENT

job openings BALTIMORE COUNTY PUBLIC ACCOUNTING FIRM HAS OPPORTUNITIES for an experienced Senior Tax Accountant and Staff Tax Accountant to join our team.

Qualified applicants should have at least 2+ years’ experience with individual, partnership, corporate, and trust tax preparation.

We have some rather unique clients.

Compensation will be based on experience. Candidates should possess strong tax knowledge with a demonstrated ability to thoroughly research and present complex tax issues. ProSeries experience is a plus. Firm has health, dental, vision, life insurance, 401K, profit-sharing, and a generous vacation package. And you did read correctly…..we pay overtime!

Please respond to this posting with resume and salary

REQUIREMENTS: • 2+ years Public Accounting experience

requirements. Send to the attention of Amy Moran at AmyM@macpa.org.

• Preparation of 1065, 1120S, 1120, 1040, 990, and 1041 returns • Provide tax research and consulting services in response to tax

ACCOUNTANT - ROCKVILLE CPA FIRM seeks

return issues, client requests and identifying opportunities for

CPA with 5-8 years recent public accounting experience to work

tax planning

part-time. Individual will prepare individual and business income

Our firm caters to entrepreneurs and we service a nice variety

tax returns. Experience with UltraTax CS and QuickBooks a plus.

of industries.

We have a casual dress environment, hassle-

This is a permanent, part-time position with flexible hours.

free parking and WE PAY OVERTIME AND BONUSES until you

Compensation $40-48 per hour depending on experience.

become partner.

Please submit your resume to monteloeb@mloebandassoc.com.

Thought Leader Series

LOOK, LEAD, LOVE, LEARN: FOUR STEPS TO BETTER BUSINESS AND A BETTER LIFE WITH BILL SHERIDAN, CAE

January 27, 2016 WEBCAST ONLY Event ID: 191019 It’s a new world in the workplace. Groundbreaking shifts in regulation, demographics, leadership and technology mean that “business as usual” doesn’t cut it anymore. For the past seven years, Bill Sheridan has used the Maryland Association of CPAs’ acclaimed blog, CPA Success, to show us how to collaborate, connect, innovate and inspire — and he’s learned a valuable lesson along the way: We’ll build better businesses, live2016 better lives and conquer complexity once we master JANUARY the ability to look, lead, love and learn.

45

Upcoming Events & Courses

DATE

COURSE TITLE

CPE

TIME

MEMBER

NON-MEM EVENT ID

LOCATION

DATE

COURSE TITLE

CPE

TIME

MEMBER

NON-MEM EVENT ID

LOCATION

ACCOUNTING & AUDITING 1/5/16

WEBCAST: Audit Workpapers: Documenting and Reviewing Field Work

8

9a-5p

$249

$345

111W352A

Online Webcast, Internet

1/7/16

WEBCAST: Analyzing a Company’s Financial Statement

4

1 p - 4:30 p

$149

$199

111W342A

Online Webcast, Internet

1/7/16

WEBCAST: Fraud: Recent Findings, Red Flags and Corruption Schemes

4

1 p - 4:30 p

$149

$199

111W397A

Online Webcast, Internet

1/8/16

WEBCAST: Compilation, Preparation, and Review Engagements Update

4

9 a - 12 p

$149

$199

111W359A

Online Webcast, Internet

1/11/16

WEBCAST: Revenue Recognition: Mastering the New FASB Requirements

8

10:30 a 6:30 p

$249

$345

111W442A

Online Webcast, Internet

1/12/16

WEBCAST: Construction Contractors: Accounting, Auditing, Tax

8

9a-4p

$249

$345

111W363A

Online Webcast, Internet

1/13/16

Compilation, Preparation, and Review Engagements Update

4

8 a - 11:30 a

$150

$200

111282A

The Loyola Graduate Center, Timonium

1/13/16

Accounting and Auditing Update

4

12 p - 3:30 p

$150

$200

111283A

The Loyola Graduate Center, Timonium

1/14/16

Not-for-Profit Organizations: Key Accounting and Reporting Considerations

4

8 a - 11:30 a

$150

$200

111272A

Johns Hopkins University - Montgomery County Campus, Rockville

1/14/16

GASB Statement No. 68 Audit and Accounting Workshop

4

12 p - 3:30 p

$150

$200

111273A

Johns Hopkins University - Montgomery County Campus, Rockville

1/14/16

WEBCAST: Purchasing, Inventory, and Cash Disbursements: Common Frauds and Internal Controls

4

1 p - 4:30 p

$149

$199

111W432A

Online Webcast, Internet

1/15/16

WEBCAST: Not-for-Profit Accounting & Reporting: From Start to Finish

8

9a-5p

$249

$345

111W415A

Online Webcast, Internet

1/15/16

WEBCAST: Preventing and Detecting Identity Theft

8

9a-5p

$249

$345

111W428A

Online Webcast, Internet

1/19/16

WEBCAST: Engagement Essentials: Preparation, Compilation, and Review of Financial Statements

8

9a-5p

$249

$345

111W369A

Online Webcast, Internet

1/19/16

WEBCAST: The Most Common Financial Statement and Asset Fraud Schemes: How to Detect and Prevent Them

4

1 p - 4:30 p

$149

$199

111W458A

Online Webcast, Internet

1/20/16

WEBCAST: New FASB Developments for Business & Industry

4

1 p - 4:30 p

$149

$199

111W411A

Online Webcast, Internet

1/20/16

WEBCAST: Not-for-Profit Accounting and Auditing Update

4

1p-5p

$149

$199

111W418A

Online Webcast, Internet

1/21/16

WEBCAST: Forensic Accounting: Uncovering Schemes and Scams

4

1p-4p

$149

$199

111W387A

Online Webcast, Internet

1/22/16

WEBCAST: Accounting and Auditing Update

4

1p-5p

$149

$199

111W337A

Online Webcast, Internet

1/22/16

WEBCAST: Internal Control and COSO Essentials for Financial Managers, Accountants, & Auditors

8

9a-5p

$249

$345

111W406A

Online Webcast, Internet

1/25/16

WEBCAST: Accounting for Deferred Income Taxes

8

10:30 a - 6 p

$249

$345

111W341A

Online Webcast, Internet

46

STATEMENT

DATE

COURSE TITLE

CPE

TIME

MEMBER

NON-MEM EVENT ID

LOCATION

ACCOUNTING & AUDITING (CONT.) Loyola University Maryland Graduate Ctr Columbia Campus, Columbia

1/26/16

Incurred Cost Audits of Government Contractors & Subcontractors

8

8 a - 3:30 p

$295

$395

111031

1/26/16

WEBCAST: Applying the Uniform Guidance for Federal Awards in Your Single Audits

8

9a-5p

$249

$345

111W347A

Online Webcast, Internet

1/27/16

WEBCAST: Fraud and Cash Receipts: Common Frauds and Internal Controls

4

1 p - 4:30 p

$149

$199

111W392A

Online Webcast, Internet

1/27/16

WEBCAST: Yellow Book Financial Audits

4

1 p - 4:30 p

$149

$199

111W462A

Online Webcast, Internet

1/29/16

WEBCAST: Audits of 401(k) Plans

8

9 a - 4:40 p

$249

$345

111W354A

Online Webcast, Internet

2/1/16

WEBCAST: Applying the Uniform Guidance for Federal Awards in Your Single Audits

8

10:30 a 6:30 p

$249

$345

111W348A

Online Webcast, Internet

2/2/16

WEBCAST: Preventing and Detecting Identity Theft

8

9a-5p

$249

$345

111W429A

Online Webcast, Internet

2/9/16

WEBCAST: Revenue Recognition: Mastering the New FASB Requirements

8

9a-5p

$249

$345

111W443A

Online Webcast, Internet

2/10/16

WEBCAST: Purchasing, Inventory, and Cash Disbursements: Common Frauds and Internal Controls

4

1 p - 4:30 p

$149

$199

111W433A

Online Webcast, Internet

2/11/16

WEBCAST: Compilation, Preparation, and Review Engagements Update

4

1p-4p

$149

$199

111W360A

Online Webcast, Internet

2/12/16

WEBCAST: Fraud: Recent Findings, Red Flags and Corruption Schemes

4

1 p - 4:30 p

$149

$199

111W398A

Online Webcast, Internet

2/16/16

WEBCAST: Not-for-Profit Accounting & Reporting: From Start to Finish

8

9a-5p

$249

$345

111W489A

Online Webcast, Internet

2/17/16

WEBCAST: Accounting and Auditing Update

4

1p-5p

$149

$199

111W338A

Online Webcast, Internet

2/18/16

WEBCAST: Analyzing a Company’s Financial Statement

4

1 p - 4:30 p

$149

$199

111W343A

Online Webcast, Internet

2/18/16

WEBCAST: Forensic Accounting: Uncovering Schemes and Scams

4

1p-4p

$149

$199

111W388A

Online Webcast, Internet

2/19/16

WEBCAST: Internal Control and COSO Essentials for Financial Managers, Accountants, & Auditors

8

9a-5p

$249

$345

111W407A

Online Webcast, Internet

2/23/16

WEBCAST: New FASB Developments for Business & Industry

4

1 p - 4:30 p

$149

$199

111W412A

Online Webcast, Internet

2/23/16

WEBCAST: The Most Common Financial Statement and Asset Fraud Schemes: How to Detect and Prevent Them

4

1 p - 4:30 p

$149

$199

111W459A

Online Webcast, Internet

2/25/16

WEBCAST: Fraud and Cash Receipts: Common Frauds and Internal Controls

4

1 p - 4:30 p

$149

$199

111W393A

Online Webcast, Internet

2/29/16

WEBCAST: Engagement Essentials: Preparation, Compilation, and Review of Financial Statements

8

10:30 a 6:30 p

$249

$345

111W370A

Online Webcast, Internet

3/3/16

WEBCAST: Purchasing, Inventory, and Cash Disbursements: Common Frauds and Internal Controls

4

1 p - 4:30 p

$149

$199

111W434A

Online Webcast, Internet

3/7/16

WEBCAST: Preventing and Detecting Identity Theft

8

10:30 a 6:30 p

$249

$345

111W430A

Online Webcast, Internet

3/10/16

WEBCAST: New FASB Developments for Business & Industry

4

1 p - 4:30 p

$149

$199

111W413A

Online Webcast, Internet

3/11/16

WEBCAST: Applying the Uniform Guidance for Federal Awards in Your Single Audits

8

9a-5p

$249

$345

111W349A

Online Webcast, Internet

3/11/16

WEBCAST: Revenue Recognition: Mastering the New FASB Requirements

8

9a-5p

$249

$345

111W444A

Online Webcast, Internet

3/14/16

WEBCAST: Accounting and Auditing Update

4

1p-5p

$149

$199

111W339A

Online Webcast, Internet

3/15/16

WEBCAST: Analyzing a Company’s Financial Statement

4

9 a - 12:30 p

$149

$199

111W344A

Online Webcast, Internet

3/15/16

WEBCAST: Fraud: Recent Findings, Red Flags and Corruption Schemes

4

1 p - 4:30 p

$149

$199

111W399A

Online Webcast, Internet

JANUARY 2016

47

DATE

COURSE TITLE

CPE

TIME

MEMBER

NON-MEM EVENT ID

LOCATION

ACCOUNTING & AUDITING (CONTINUED) 3/16/16

WEBCAST: Compilation, Preparation, and Review Engagements Update

4

1p-4p

$149

$199

111W361A

Online Webcast, Internet

3/17/16

WEBCAST: Forensic Accounting: Uncovering Schemes and Scams

4

1p-4p

$149

$199

111W389A

Online Webcast, Internet

3/18/16

WEBCAST: Internal Control and COSO Essentials for Financial Managers, Accountants, & Auditors

8

9a-5p

$249

$345

111W408A

Online Webcast, Internet

3/21/16

WEBCAST: Engagement Essentials: Preparation, Compilation, and Review of Financial Statements

8

10:30 a 6:30 p

$249

$345

111W371A

Online Webcast, Internet

3/22/16

WEBCAST: Not-for-Profit Accounting & Reporting: From Start to Finish

8

9a-5p

$249

$345

111W416A

Online Webcast, Internet

3/24/16

WEBCAST: Fraud and Cash Receipts: Common Frauds and Internal Controls

4

1 p - 4:30 p

$149

$199

111W394A

Online Webcast, Internet

3/24/16

WEBCAST: Statement of Cash Flows: Preparation, Presentation, and Use

4

1p-4p

$149

$199

111W455A

Online Webcast, Internet

3/30/16

WEBCAST: The Most Common Financial Statement and Asset Fraud Schemes: How to Detect and Prevent Them

4

1 p - 4:30 p

$149

$199

111W460A

Online Webcast, Internet

4/6/16

WEBCAST: New FASB Developments for Business & Industry

4

1 p - 4:30 p

$149

$199

111W414A

Online Webcast, Internet

4/7/16

WEBCAST: Purchasing, Inventory, and Cash Disbursements: Common Frauds and Internal Controls

4

1 p - 4:30 p

$149

$199

111W435A

Online Webcast, Internet

4/8/16

WEBCAST: Engagement Essentials: Preparation, Compilation, and Review of Financial Statements

8

9a-5p

$249

$345

111W372A

Online Webcast, Internet

4/11/16

WEBCAST: Not-for-Profit Accounting & Reporting: From Start to Finish

8

10:30 a 6:30 p

$249

$345

111W417A

Online Webcast, Internet

4/11/16

WEBCAST: Revenue Recognition: Mastering the New FASB Requirements

8

10:30 a 6:30 p

$249

$345

111W445A

Online Webcast, Internet

4/12/16

WEBCAST: Fraud: Recent Findings, Red Flags and Corruption Schemes

4

1 p - 4:30 p

$149

$199

111W400A

Online Webcast, Internet

4/14/16

WEBCAST: Fraud and Cash Receipts: Common Frauds and Internal Controls

4

1 p - 4:30 p

$149

$199

111W395A

Online Webcast, Internet

4/18/16

WEBCAST: Audits of 401(k) Plans

8

10:30 a - 6 p

$249

$345

111W355A

Online Webcast, Internet

4/19/16

WEBCAST: Preventing and Detecting Identity Theft

8

9a-5p

$249

$345

111W431A

Online Webcast, Internet

4/20/16

WEBCAST: Statement of Cash Flows: Preparation, Presentation, and Use

4

1p-4p

$149

$199

111W456A

Online Webcast, Internet

4/21/16

WEBCAST: Forensic Accounting: Uncovering Schemes and Scams

4

1p-4p

$149

$199

111W390A

Online Webcast, Internet

4/22/16

WEBCAST: Analyzing a Company’s Financial Statement

4

1 p - 4:30 p

$149

$199

111W345A

Online Webcast, Internet

4/22/16

WEBCAST: Internal Control and COSO Essentials for Financial Managers, Accountants, & Auditors

8

9a-5p

$249

$345

111W409A

Online Webcast, Internet

4/25/16

WEBCAST: Compilation, Preparation, and Review Engagements Update

4

10:30 a - 2 p

$149

$199

111W362A

Online Webcast, Internet

4/26/16

WEBCAST: Construction Contractors: Accounting, Auditing, Tax

8

9a-4p

$249

$345

111W364A

Online Webcast, Internet

4/27/16

WEBCAST: The Most Common Financial Statement and Asset Fraud Schemes: How to Detect and Prevent Them

4

1 p - 4:30 p

$149

$199

111W461A

Online Webcast, Internet

4/28/16

WEBCAST: Accounting and Auditing Update

4

1p-5p

$149

$199

111W340A

Online Webcast, Internet

4/29/16

WEBCAST: Applying the Uniform Guidance for Federal Awards in Your Single Audits

8

9a-5p

$249

$345

111W350A

Online Webcast, Internet

4/29/16

2016 GOVERNMENT AND NOT-FOR-PROFIT CONFERENCE

8

8a-5p

$255

$355

121000

University of MD University College The Inn & Conference Center, College Park

48

STATEMENT

Mitch Halbrich Senior Director Executive Consulting

They say people are your biggest assets and we’re proving it! Randstad Professionals offers a network of thousands of the finest finance and accounting professionals to give you the competitive edge with your next hire. Our unrivaled knowledge of the local market is further backed by a $22 billion organization with offices across the globe. Add to that our 30-year track record of success and unrivaled personal service and it’s no wonder we’re the number one professional recruitment firm in the region and why 90% of our business is from repeat customers. Whether looking for recent graduates or CPAs, you can count on Randstad to provide the talent you need to boost your bottom line.

Finance & Accounting, Banking, IT Direct Hire, Human Resources, Sales & Marketing

Baltimore: (410) 752-5244 / Columbia: (410) 872-9100 Offices also in Washington / Bethesda / Vienna, VA Visit us at randstadusa.com Randstad, formerly The Mergis Group

The Choice is Yours When choosing the University of Baltimore Masters of Science in Accounting and Business Advisory Services program, you’ll go beyond just accounting.

Our curriculum is tailored to working professionals like you. The program prepares you for the CPA exam and your career by using an holistic approach that includes courses in finance and information systems. Apply now.

For more information about our graduate program offering visit: ubalt.edu/gradaccounting UB Alumni lead more of Baltimore’s largest accounting firms.* *According to the 2015 Baltimore Business Journal Book of Lists, the University of Baltimore has 10 alumni who are managing or co-managing Baltimore’s 25 largest accounting firms.

i

i

Top Talent to Improve your Bottom Line

DATE

COURSE TITLE

CPE

TIME

MEMBER

NON-MEM EVENT ID

LOCATION

ACCOUNTING & AUDITING (CONTINUED) 5/16/16

2016 EMPLOYEE BENEFIT PLAN CONFERENCE

8

8 a - 4:30 p

$300

$400

121012

Sheraton Columbia Hotel, Columbia

5/17/16

AICPA’s Annual Update: Top Governmental and Not-for Profit Accounting and Auditing Issues Facing CPAs

8

8 a - 3:30 p

$295

$395

111274A

Johns Hopkins University - Montgomery County Campus, Rockville

5/23/16

Audits of 401(k) Plans

8

8 a - 3:30 p

$295

$395

111275A

Johns Hopkins University - Montgomery County Campus, Rockville

A ICPA W E B C AS T S 1/5/16

WEBCAST: Audit Workpapers: Documenting and Reviewing Field Work

8

9a-5p

$249

$345

111W352A

Online Webcast, Internet

1/5/16

WEBCAST: Form 990: A Comprehensive Approach to Accurate Preparation

8

9a-5p

$249

$345

111W391A

Online Webcast, Internet

1/6/16

WEBCAST: Health Care Reform Act: Critical Tax and Insurance Ramifications

4

1 p - 4:30 p

$149

$199

111W401A

Online Webcast, Internet

1/7/16

WEBCAST: Analyzing a Company’s Financial Statement

4

1 p - 4:30 p

$149

$199

111W342A

Online Webcast, Internet

1/7/16

WEBCAST: Fraud: Recent Findings, Red Flags and Corruption Schemes

4

1 p - 4:30 p

$149

$199

111W397A

Online Webcast, Internet

1/8/16

WEBCAST: Compilation, Preparation, and Review Engagements Update

4

9 a - 12 p

$149

$199

111W359A

Online Webcast, Internet

1/8/16

WEBCAST: IRS Disputes: Identifying Options for Your Client

4

9 a - 12:30 p

$149

$199

111W410A

Online Webcast, Internet

1/11/16

WEBCAST: Payroll Taxes and 1099 Issues: Everything You Need to Know

8

10:30 a 6:30 p

$249

$345

111W419A

Online Webcast, Internet

1/11/16

WEBCAST: Revenue Recognition: Mastering the New FASB Requirements

8

10:30 a 6:30 p

$249

$345

111W442A

Online Webcast, Internet

1/12/16

WEBCAST: Construction Contractors: Accounting, Auditing, Tax

8

9a-4p

$249

$345

111W363A

Online Webcast, Internet

1/12/16

WEBCAST: Taxation Essentials of LLCs and Partnerships

8

9a-5p

$249

$345

111W457A

Online Webcast, Internet

1/13/16

WEBCAST: Controller’s Update: Today’s Latest Trends

4

1p-5p

$149

$199

111W365A

Online Webcast, Internet

1/13/16

WEBCAST: Ethics in Practice: AICPA Code and Real Life Applications

2

2p-4p

$99

$124

111W379A

Online Webcast, Internet

1/14/16

WEBCAST: Capitalized Costs and Depreciation: Key Issues and Answers

4

1 p - 4:30 p

$149

$199

111W358A

Online Webcast, Internet

1/14/16

WEBCAST: Purchasing, Inventory, and Cash Disbursements: Common Frauds and Internal Controls

4

1 p - 4:30 p

$149

$199

111W432A

Online Webcast, Internet

1/15/16

WEBCAST: Not-for-Profit Accounting & Reporting: From Start to Finish

8

9a-5p

$249

$345

111W415A

Online Webcast, Internet

1/15/16

WEBCAST: Preventing and Detecting Identity Theft

8

9a-5p

$249

$345

111W428A

Online Webcast, Internet

1/19/16

WEBCAST: Engagement Essentials: Preparation, Compilation, and Review of Financial Statements

8

9a-5p

$249

$345

111W369A

Online Webcast, Internet

1/19/16

WEBCAST: Smart Tax Planning Strategies for Individuals

4

1 p - 4:30 p

$149

$199

111W450A

Online Webcast, Internet

1/19/16

WEBCAST: The Most Common Financial Statement and Asset Fraud Schemes: How to Detect and Prevent Them

4

1 p - 4:30 p

$149

$199

111W458A

Online Webcast, Internet

1/19/16

WEBCAST: S Corporation Fundamentals

8

9a-5p

$249

$345

111W477A

Online Webcast, Internet

1/20/16

WEBCAST: New FASB Developments for Business & Industry

4

1 p - 4:30 p

$149

$199

111W411A

Online Webcast, Internet

1/20/16

WEBCAST: Not-for-Profit Accounting and Auditing Update

4

1p-5p

$149

$199

111W418A

Online Webcast, Internet

50

STATEMENT

DATE

COURSE TITLE

CPE

TIME

MEMBER

NON-MEM EVENT ID

LOCATION

AICPA WEBCASTS (CONTINUED) 1/20/16

WEBINAR: Excel for Accounting Professionals Session 1: Tables and Named References

2

12:30 p 2:30 p

$99

$129

111W478A

Online Webcast, Internet

1/20/16

WEBINAR: Excel for Accounting Professionals Session 2: Data Validation and Conditional Formatting

2

3p-5p

$99

$129

111W479A

Online Webcast, Internet

1/21/16

WEBCAST: Financial Forecasting: Planning for Success

4

1 p - 4:40 p

$149

$199

111W383A

Online Webcast, Internet

1/21/16

WEBCAST: Forensic Accounting: Uncovering Schemes and Scams

4

1p-4p

$149

$199

111W387A

Online Webcast, Internet

1/21/16

WEBINAR: Excel for Accounting Professionals Session 3: Workbook Design Principles and Organization

2

12:30 p 2:30 p

$99

$129

111W480A

Online Webcast, Internet

1/21/16

WEBINAR: Excel for Accounting Professionals Session 4: Conditional Summing and Lookups

2

3p-5p

$99

$129

111W481A

Online Webcast, Internet

1/22/16

WEBCAST: Accounting and Auditing Update

4

1p-5p

$149

$199

111W337A

Online Webcast, Internet

1/22/16

WEBCAST: Internal Control and COSO Essentials for Financial Managers, Accountants, & Auditors

8

9a-5p

$249

$345

111W406A

Online Webcast, Internet

1/22/16

WEBCAST: Annual Tax Update: Individuals and Sole Proprietors

8

9a-5p

$249

$345

111W482A

Online Webcast, Internet

1/25/16

WEBCAST: Accounting for Deferred Income Taxes

8

10:30 a - 6 p

$249

$345

111W341A

Online Webcast, Internet

1/25/16

WEBCAST: Individual Tax Fundamentals

8

10:30 a 6:30 p

$249

$345

111W483A

Online Webcast, Internet

1/26/16

WEBCAST: Applying the Uniform Guidance for Federal Awards in Your Single Audits

8

9a-5p

$249

$345

111W347A

Online Webcast, Internet

1/26/16

WEBCAST: Basis/Distributions for Pass-Through Entities: Simplifying the Complexities

8

9a-5p

$249

$345

111W357A

Online Webcast, Internet

1/27/16

WEBCAST: Fraud and Cash Receipts: Common Frauds and Internal Controls

4

1 p - 4:30 p

$149

$199

111W392A

Online Webcast, Internet

1/27/16

WEBCAST: Yellow Book Financial Audits

4

1 p - 4:30 p

$149

$199

111W462A

Online Webcast, Internet

1/27/16

WEBINAR: Excel for Accounting Professionals Session 5: Error Trapping and Improving Lookups

2

12:30 p 2:30 p

$99

$129

111W484A

Online Webcast, Internet

1/27/16

WEBINAR: Excel for Accounting Professionals Session 6: List Comparisons and Indenting

2

3p-5p

$99

$129

111W485A

Online Webcast, Internet

1/28/16

WEBCAST: Social Security and Medicare: Maximizing Retirement Benefits

4

1 p - 4:40 p

$149

$199

111W451A

Online Webcast, Internet

1/28/16

WEBINAR: Excel for Accounting Professionals Session 7: Date Driven Workbooks and Concatenation

2

12:30 p 2:30 p

$99

$129

111W486A

Online Webcast, Internet

1/28/16

WEBCAST: Excel for Accounting Professionals Session 8: Dynamic Headers, Mapping Tables and Error Check

2

3p-5p

$99

$129

111W487A

Online Webcast, Internet

1/29/16

WEBCAST: Audits of 401(k) Plans

8

9 a - 4:40 p

$249

$345

111W354A

Online Webcast, Internet

1/29/16

WEBCAST: Risk, Cost, and Cash Management for Controllers and Financial Managers

4

1 p - 4:30 p

$149

$199

111W446A

Online Webcast, Internet

1/29/16

WEBCAST: Annual Tax Update: Corporations and PassThrough Entities

8

9a-5p

$249

$345

111W488A

Online Webcast, Internet

2/1/16

WEBCAST: Applying the Uniform Guidance for Federal Awards in Your Single Audits

8

10:30 a 6:30 p

$249

$345

111W348A

Online Webcast, Internet

2/2/16

WEBCAST: Preventing and Detecting Identity Theft

8

9a-5p

$249

$345

111W429A

Online Webcast, Internet

2/3/16

WEBCAST: Health Care Reform Act: Critical Tax and Insurance Ramifications

4

1 p - 4:30 p

$149

$199

111W402A

Online Webcast, Internet

2/4/16

WEBCAST: Ethics in Practice: AICPA Code and Real Life Applications

2

2p-4p

$99

$124

111W380A

Online Webcast, Internet

2/5/16

WEBCAST: Controller’s Update: Today’s Latest Trends

4

1p-5p

$149

$199

111W366A

Online Webcast, Internet

JANUARY 2016

51

DATE

COURSE TITLE

CPE

TIME

MEMBER

NON-MEM EVENT ID

LOCATION

FORENSIC VALUATION conference 2016

DEEPER DATA INSIGHT. GREATER STRATEGIC CLARITY. April 25, 8:00 am | Baltimore | 9-hour CPE event | Event ID: 121013

Register today: macpa.org/valuation Webcast available

2016 Conference Sessions 001 - EXPERT WITNESS DO’S & DON’TS Speaker: Gary Trugman, CPA/ABV, MCBA, ASA, MVS is the President of Trugman Valuation Associates Inc.

{CHOOSE ONE} 002 - THE NUTS AND BOLTS OF INTELLECTUAL PROPERTY DAMAGES Speaker: Marylee Robinson, CPA, CFE, CIRA, CFF, Stout Risius Ross, Inc.

003 - DLOM MODELING Speaker: Marc Vianello, CPA, ABV, CFF, Vianello Forensic

Consulting, LLC

{CHOOSE ONE} 004 - E-DISCOVERY Speaker: Brian Dykstra, President & CEO, Atlantic Data Forensics, Inc.

005 - VALUATION IN A BANKRUPTCY Speaker: Lorie Beers, Managing Director- Heard of Special

006 - MARKETING FVS SERVICES BY NICHE AREA, PRACTICE MAKES PERFECT & BUILDING A REVENUE BASED FIRM Speaker: Ron Seigneur, MBA, CPA/BV, ASA, CVA, CFF, CGMA, Seigneur Gustafson LLP

{CHOOSE ONE} 007 - PROCUREMENT FRAUD Speaker: Al Wurglitz, Esq., Miles & Stockbridge

008 - STUMP THE EXPERTS PANEL Speakers: Chris Rosenthal, CPA/ABV/CFF, ASA, AEP, Ellin & Tucker, Nathan DiNatale, CPA/ABV, CVA, SC&H Group, LLC, Wayne Markey, CPA, JD, CBA, ABV, McGladrey LLP & Allen Ayers, CPA, CVA, CFP, Lombardo, Wagner, Ayers & Company

009 - TECHNOLOGY IN THE COURTROOM/ BOARDROOM Speakers: Mike Miller, MGM Trial Services, Inc. & Bill Bavis, CPA, ABV, CFF, William J. Bavis Forensic, Litigation & Valuation Services

Situations, Cowen and Company

STRATEGIC LEARNING POWERED BY

52

STATEMENT

DATE

COURSE TITLE

CPE

TIME

MEMBER

NON-MEM EVENT ID

LOCATION

AICPA WEBCASTS (CONTINUED) 2/9/16

WEBCAST: Payroll Taxes and 1099 Issues: Everything You Need to Know

8

9a-5p

$249

$345

111W420A

Online Webcast, Internet

2/9/16

WEBCAST: Revenue Recognition: Mastering the New FASB Requirements

8

9a-5p

$249

$345

111W443A

Online Webcast, Internet

2/10/16

WEBCAST: Purchasing, Inventory, and Cash Disbursements: Common Frauds and Internal Controls

4

1 p - 4:30 p

$149

$199

111W433A

Online Webcast, Internet

2/11/16

WEBCAST: Compilation, Preparation, and Review Engagements Update

4

1p-4p

$149

$199

111W360A

Online Webcast, Internet

2/12/16

WEBCAST: Fraud: Recent Findings, Red Flags and Corruption Schemes

4

1 p - 4:30 p

$149

$199

111W398A

Online Webcast, Internet

2/16/16

WEBCAST: Not-for-Profit Accounting & Reporting: From Start to Finish

8

9a-5p

$249

$345

111W489A

Online Webcast, Internet

2/17/16

WEBCAST: Accounting and Auditing Update

4

1p-5p

$149

$199

111W338A

Online Webcast, Internet

2/17/16

WEBINAR: Streamlined Excel Reporting Series Session 1: PivotTable Fundamentals

2

12:30 p 2:30 p

$99

$129

111W490A

Online Webcast, Internet

2/17/16

WEBINAR: Streamlined Excel Reporting Series Session 2 : Working with PivotTables

2

3p-5p

$99

$129

111W491A

Online Webcast, Internet

2/18/16

WEBCAST: Analyzing a Company’s Financial Statement

4

1 p - 4:30 p

$149

$199

111W343A

Online Webcast, Internet

2/18/16

WEBCAST: Forensic Accounting: Uncovering Schemes and Scams

4

1p-4p

$149

$199

111W388A

Online Webcast, Internet

2/19/16

WEBCAST: Internal Control and COSO Essentials for Financial Managers, Accountants, & Auditors

8

9a-5p

$249

$345

111W407A

Online Webcast, Internet

2/19/16

WEBCAST: Risk, Cost, and Cash Management for Controllers and Financial Managers

4

1 p - 4:30 p

$149

$199

111W447A

Online Webcast, Internet

2/22/16

WEBCAST: Annual Tax Update: Corporations and PassThrough Entities

8

10:30 a 6:30 p

$249

$345

111W500A

Online Webcast, Internet

2/23/16

WEBCAST: Financial Forecasting: Planning for Success

4

1 p - 4:40 p

$149

$199

111W384A

Online Webcast, Internet

2/23/16

WEBCAST: New FASB Developments for Business & Industry

4

1 p - 4:30 p

$149

$199

111W412A

Online Webcast, Internet

2/23/16

WEBCAST: The Most Common Financial Statement and Asset Fraud Schemes: How to Detect and Prevent Them

4

1 p - 4:30 p

$149

$199

111W459A

Online Webcast, Internet

2/23/16

WEBCAST: Annual Tax Update: Individuals and Sole Proprietors

8

9a-5p

$249

$345

111W501A

Online Webcast, Internet

2/24/16

WEBCAST: Social Security and Medicare: Maximizing Retirement Benefits

4

1 p - 4:40 p

$149

$199

111W452A

Online Webcast, Internet

2/24/16

WEBINAR: Streamlined Excel Reporting Series Session 3 : PivotTable Wrap-Up and Web Data

2

12:30 p 2:30 p

$99

$129

111W502A

Online Webcast, Internet

2/24/16

WEBINAR: Streamlined Excel Reporting Series Session 4 : External Data and PivotCharts

2

3p-5p

$99

$129

111W504A

Online Webcast, Internet

2/25/16

WEBCAST: Fraud and Cash Receipts: Common Frauds and Internal Controls

4

1 p - 4:30 p

$149

$199

111W393A

Online Webcast, Internet

2/29/16

WEBCAST: Engagement Essentials: Preparation, Compilation, and Review of Financial Statements

8

10:30 a 6:30 p

$249

$345

111W370A

Online Webcast, Internet

3/2/16

WEBCAST: Ethics in Practice: AICPA Code and Real Life Applications

2

2p-4p

$99

$124

111W381A

Online Webcast, Internet

3/3/16

WEBCAST: Health Care Reform Act: Critical Tax and Insurance Ramifications

4

1 p - 4:30 p

$149

$199

111W403A

Online Webcast, Internet

3/3/16

WEBCAST: Purchasing, Inventory, and Cash Disbursements: Common Frauds and Internal Controls

4

1 p - 4:30 p

$149

$199

111W434A

Online Webcast, Internet

3/7/16

WEBCAST: Preventing and Detecting Identity Theft

8

10:30 a 6:30 p

$249

$345

111W430A

Online Webcast, Internet

3/9/16

WEBCAST: Controller’s Update: Today’s Latest Trends

4

1p-5p

$149

$199

111W367A

Online Webcast, Internet

JANUARY 2016

53

DATE

COURSE TITLE

CPE

TIME

MEMBER

NON-MEM EVENT ID

LOCATION

AICPA WEBCASTS (CONTINUED) 3/10/16

WEBCAST: New FASB Developments for Business & Industry

4

1 p - 4:30 p

$149

$199

111W413A

Online Webcast, Internet

3/11/16

WEBCAST: Applying the Uniform Guidance for Federal Awards in Your Single Audits

8

9a-5p

$249

$345

111W349A

Online Webcast, Internet

3/11/16

WEBCAST: Revenue Recognition: Mastering the New FASB Requirements

8

9a-5p

$249

$345

111W444A

Online Webcast, Internet

3/14/16

WEBCAST: Accounting and Auditing Update

4

1p-5p

$149

$199

111W339A

Online Webcast, Internet

3/15/16

WEBCAST: Analyzing a Company’s Financial Statement

4

9 a - 12:30 p

$149

$199

111W344A

Online Webcast, Internet

3/15/16

WEBCAST: Fraud: Recent Findings, Red Flags and Corruption Schemes

4

1 p - 4:30 p

$149

$199

111W399A

Online Webcast, Internet

3/16/16

WEBCAST: Compilation, Preparation, and Review Engagements Update

4

1p-4p

$149

$199

111W361A

Online Webcast, Internet

3/17/16

WEBCAST: Forensic Accounting: Uncovering Schemes and Scams

4

1p-4p

$149

$199

111W389A

Online Webcast, Internet

3/18/16

WEBCAST: Internal Control and COSO Essentials for Financial Managers, Accountants, & Auditors

8

9a-5p

$249

$345

111W408A

Online Webcast, Internet

3/21/16

WEBCAST: Engagement Essentials: Preparation, Compilation, and Review of Financial Statements

8

10:30 a 6:30 p

$249

$345

111W371A

Online Webcast, Internet

3/21/16

WEBCAST: Risk, Cost, and Cash Management for Controllers and Financial Managers

4

1 p - 4:30 p

$149

$199

111W448A

Online Webcast, Internet

3/22/16

WEBCAST: Not-for-Profit Accounting & Reporting: From Start to Finish

8

9a-5p

$249

$345

111W416A

Online Webcast, Internet

3/23/16

WEBCAST: Social Security and Medicare: Maximizing Retirement Benefits

4

1 p - 4:40 p

$149

$199

111W453A

Online Webcast, Internet

3/24/16

WEBCAST: Fraud and Cash Receipts: Common Frauds and Internal Controls

4

1 p - 4:30 p

$149

$199

111W394A

Online Webcast, Internet

3/24/16

WEBCAST: Statement of Cash Flows: Preparation, Presentation, and Use

4

1p-4p

$149

$199

111W455A

Online Webcast, Internet

3/30/16

WEBCAST: The Most Common Financial Statement and Asset Fraud Schemes: How to Detect and Prevent Them

4

1 p - 4:30 p

$149

$199

111W460A

Online Webcast, Internet

3/31/16

WEBCAST: Financial Forecasting: Planning for Success

4

1 p - 4:40 p

$149

$199

111W385A

Online Webcast, Internet

4/4/16

WEBCAST: Controller?s Update: Today’s Latest Trends

4

1p-5p

$149

$199

111W368A

Online Webcast, Internet

4/6/16

WEBCAST: Health Care Reform Act: Critical Tax and Insurance Ramifications

4

1 p - 4:30 p

$149

$199

111W404A

Online Webcast, Internet

4/6/16

WEBCAST: New FASB Developments for Business & Industry

4

1 p - 4:30 p

$149

$199

111W414A

Online Webcast, Internet

4/7/16

WEBCAST: Purchasing, Inventory, and Cash Disbursements: Common Frauds and Internal Controls

4

1 p - 4:30 p

$149

$199

111W435A

Online Webcast, Internet

4/8/16

WEBCAST: Engagement Essentials: Preparation, Compilation, and Review of Financial Statements

8

9a-5p

$249

$345

111W372A

Online Webcast, Internet

4/11/16

WEBCAST: Not-for-Profit Accounting & Reporting: From Start to Finish

8

10:30 a 6:30 p

$249

$345

111W417A

Online Webcast, Internet

4/11/16

WEBCAST: Revenue Recognition: Mastering the New FASB Requirements

8

10:30 a 6:30 p

$249

$345

111W445A

Online Webcast, Internet

4/12/16

WEBCAST: Fraud: Recent Findings, Red Flags and Corruption Schemes

4

1 p - 4:30 p

$149

$199

111W400A

Online Webcast, Internet

4/13/16

WEBCAST: Ethics in Practice: AICPA Code and Real Life Applications

2

2p-4p

$99

$124

111W382A

Online Webcast, Internet

4/13/16

WEBCAST: Social Security and Medicare: Maximizing Retirement Benefits

4

1 p - 4:40 p

$149

$199

111W454A

Online Webcast, Internet

4/14/16

WEBCAST: Fraud and Cash Receipts: Common Frauds and Internal Controls

4

1 p - 4:30 p

$149

$199

111W395A

Online Webcast, Internet

54

STATEMENT

Choose knowledge, strategy and results

• Arbitration and Mediation

• Derivative Actions

• Bank Financing and Loan Documents

• Employment Agreements

• Business Formation

• Independent Contractor Agreements

• Business Succession Planning

• Non-Compete and Executive Compensation

• Commercial Lease Negotiation

• Purchases, Sales and Mergers

• Contracts and Commercial Agreements

• Shareholder and Operating Agreements

Ronald E. Lyons, Esquire 1901 Research Blvd., Suite 500 • Rockville, MD 20850-3168 301-251-1180 p • 301-251-0447 f www.mcmillanmetro.com • rlyons@mcmillanmetro.com

The One-Receipt Solution You’ve seen them: stacks of receipts for charitable donations. But with a BCF donor-advised fund, your client will have one charitable receipt for the entire year’s gifts.

And that saves time. And maybe even a couple of aspirins.

BCF has more tax-savvy tips for charitable gift planning. And plenty of added benefits for your clients, too. So give us a call . . . your clients will thank you.

4 Find out more today, visit us at www.bcf.org/attorneys 4 See who refers clients to BCF, visit www.bcf.org/refer

2 East Read Street, 9th floor, Baltimore, Maryland 21202

|

410-332-4171

|

www.bcf.org

DATE

COURSE TITLE

CPE

TIME

MEMBER

NON-MEM EVENT ID

LOCATION

AICPA WEBCASTS (CONTINUED) 4/18/16

WEBCAST: Audits of 401(k) Plans

8

10:30 a - 6 p

$249

$345

111W355A

Online Webcast, Internet

4/18/16

WEBCAST: Financial Forecasting: Planning for Success

4

1 p - 4:40 p

$149

$199

111W386A

Online Webcast, Internet

4/19/16

WEBCAST: Preventing and Detecting Identity Theft

8

9a-5p

$249

$345

111W431A

Online Webcast, Internet

4/19/16

WEBCAST: Risk, Cost, and Cash Management for Controllers and Financial Managers

4

1 p - 4:30 p

$149

$199

111W449A

Online Webcast, Internet

4/20/16

WEBCAST: Statement of Cash Flows: Preparation, Presentation, and Use

4

1p-4p

$149

$199

111W456A

Online Webcast, Internet

4/21/16

WEBCAST: Forensic Accounting: Uncovering Schemes and Scams

4

1p-4p

$149

$199

111W390A

Online Webcast, Internet

4/22/16

WEBCAST: Analyzing a Company’s Financial Statement

4

1 p - 4:30 p

$149

$199

111W345A

Online Webcast, Internet

4/22/16

WEBCAST: Internal Control and COSO Essentials for Financial Managers, Accountants, & Auditors

8

9a-5p

$249

$345

111W409A

Online Webcast, Internet

4/25/16

WEBCAST: Compilation, Preparation, and Review Engagements Update

4

10:30 a - 2 p

$149

$199

111W362A

Online Webcast, Internet

4/26/16

WEBCAST: Construction Contractors: Accounting, Auditing, Tax

8

9a-4p

$249

$345

111W364A

Online Webcast, Internet

4/27/16

WEBCAST: The Most Common Financial Statement and Asset Fraud Schemes: How to Detect and Prevent Them

4

1 p - 4:30 p

$149

$199

111W461A

Online Webcast, Internet

4/28/16

WEBCAST: Accounting and Auditing Update

4

1p-5p

$149

$199

111W340A

Online Webcast, Internet

4/29/16

WEBCAST: Applying the Uniform Guidance for Federal Awards in Your Single Audits

8

9a-5p

$249

$345

111W350A

Online Webcast, Internet

5/25/16

WEBCAST: BLI Thought Leader Series: The Millennial Generation and the Future

4

9 a - 12:30 p

$195

$295

17W209

Online Webcast, Internet

BU SI N ESS & I ND US T RY 1/7/16

WEBCAST: Analyzing a Company’s Financial Statement

4

1 p - 4:30 p

$149

$199

111W342A

Online Webcast, Internet

1/11/16

Tax Consequences and Reporting Issues of LLCs, LLPs, LPs, and Other Partnerships

4

8 a - 11:30 a

$150

$200

111280A

MACPA Columbia Center, Columbia

1/13/16

WEBCAST: Controller’s Update: Today’s Latest Trends

4

1p-5p

$149

$199

111W365A

Online Webcast, Internet

1/13/16

WEBCAST: Ethics in Practice: AICPA Code and Real Life Applications

2

2p-4p

$99

$124

111W379A

Online Webcast, Internet

1/19/16

BLI PILOT PROGRAM: Excel Beginner to Intermediate

4

8 a - 11:30 a

$75

$75

110107

MACPA Columbia Center, Columbia

1/19/16

Annual Update for Controllers

8

8 a - 3:30 p

$295

$395

111239A

1/21/16

WEBCAST: Financial Forecasting: Planning for Success

4

1 p - 4:40 p

$149

$199

111W383A

Online Webcast, Internet

1/21/16

WEBCAST: Forensic Accounting: Uncovering Schemes and Scams

4

1p-4p

$149

$199

111W387A

Online Webcast, Internet

1/22/16

Ethics: It’s Not Just What You Do, But How You Do It!

4

8 a - 11:30 a

$115

$215

111025

The Loyola Graduate Center, Timonium

1/27/16

WEBCAST: LI Thought Leader Series: Look, Lead, Love, Learn: Four Steps to Better Business and a Better Life with Bill Sheridan, CAE

4

9 a - 11 a

$195

$295

191019

LIVE- ONLINE WEBCAST, INTERNET

1/28/16

Financial Leaders Forum: The Ethics of Change: Keeping Your Balance in Risky Times

4

8 a - 12 p

$200

$250

171013

The Loyola Graduate Center, Timonium

1/28/16

FAR Cost Principles for Executives (GVC Roundtable)

2

8 a - 10 a

$40

$50

184020

MACPA Columbia Center, Columbia

56

The Loyola Graduate Center, Timonium

STATEMENT

DATE

COURSE TITLE

CPE

TIME

MEMBER

NON-MEM EVENT ID

LOCATION

BUSINESS & INDUSTRY (CONTINUED) 2/4/16

WEBCAST: Ethics in Practice: AICPA Code and Real Life Applications

2

2p-4p

$99

$124

111W380A

Online Webcast, Internet

2/5/16

WEBCAST: Controller’s Update: Today’s Latest Trends

4

1p-5p

$149

$199

111W366A

Online Webcast, Internet

2/18/16

WEBCAST: Analyzing a Company’s Financial Statement

4

1 p - 4:30 p

$149

$199

111W343A

Online Webcast, Internet

2/23/16

WEBCAST: Financial Forecasting: Planning for Success

4

1 p - 4:40 p

$149

$199

111W384A

Online Webcast, Internet

3/2/16

WEBCAST: Ethics in Practice: AICPA Code and Real Life Applications

2

2p-4p

$99

$124

111W381A

Online Webcast, Internet

3/9/16

WEBCAST: Controller’s Update: Today’s Latest Trends

4

1p-5p

$149

$199

111W367A

Online Webcast, Internet

3/15/16

WEBCAST: Analyzing a Company’s Financial Statement

4

9 a - 12:30 p

$149

$199

111W344A

Online Webcast, Internet

3/23/16

Considerations While Completeing Incurred Cost Submission (GVC)

3

8 a - 11 a

$40

$50

184021

MACPA Columbia Center, Columbia

3/24/16

Financial Leaders Forum: Using the Triple Bottom Line” to Increase Your Success”

4

8 a - 12 p

$200

$250

171014

MACPA Columbia Center, Columbia

3/31/16

WEBCAST: Financial Forecasting: Planning for Success

4

1 p - 4:40 p

$149

$199

111W385A

Online Webcast, Internet

4/4/16

WEBCAST: Controller?s Update: Today’s Latest Trends

4

1p-5p

$149

$199

111W368A

Online Webcast, Internet

4/13/16

WEBCAST: Ethics in Practice: AICPA Code and Real Life Applications

2

2p-4p

$99

$124

111W382A

Online Webcast, Internet

4/18/16

WEBCAST: Financial Forecasting: Planning for Success

4

1 p - 4:40 p

$149

$199

111W386A

Online Webcast, Internet

4/22/16

WEBCAST: Analyzing a Company’s Financial Statement

4

1 p - 4:30 p

$149

$199

111W345A

Online Webcast, Internet

4/25/16

2016 FORENSIC VALUATION CONFERENCE

9

8a-5p

$295

$395

121013

Martin’s West, Baltimore

5/10/16

Fringe Benefit Planning for 2016 and Beyond

8

8 a - 3:30 p

$295

$395

111022

MACPA Columbia Center, Columbia

5/13/16

2016 BUSINESS AND INDUSTRY CONFERENCE

8

8a-5p

$395

$495

121011

Hilton Baltimore BWI Airport, Linthicum

5/17/16

AICPA’s Annual Update: Top Governmental and Not-for Profit Accounting and Auditing Issues Facing CPAs

8

8 a - 3:30 p

$295

$395

111274A

5/19/16

Financial Leaders Forum: Enterprise Risk Management and Forecasting

4

8 a - 12 p

$200

$250

171015

5/23/16

Audits of 401(k) Plans

8

8 a - 3:30 p

$295

$395

111275A

Johns Hopkins University - Montgomery County Campus, Rockville

5/25/16

WEBCAST: BLI Thought Leader Series: The Millennial Generation and the Future of Business with Jamie Notter

4

9 a - 12:30 p

$195

$295

17W209

Online Webcast, Internet

5/25/16

BLI Thought Leader Series: The Millennial Generation and the Future of Business with Jamie Notter

4

9 a - 12:30 p

$195

$295

191020

Sheraton Columbia Hotel, Columbia

2016 FORENSIC VALUATION CONFERENCE

9

8a-5p

$295

$395

121013

Martin’s West, Baltimore

Johns Hopkins University - Montgomery County Campus, Rockville The Loyola Graduate Center, Timonium

B VLS 4/25/16

E MPLOY E E B E N E F I T S 5/10/16

Fringe Benefit Planning for 2016 and Beyond

8

8 a - 3:30 p

$295

$395

111022

MACPA Columbia Center, Columbia

5/16/16

2016 EMPLOYEE BENEFIT PLAN CONFERENCE

8

8 a - 4:30 p

$300

$400

121012

Sheraton Columbia Hotel, Columbia

JANUARY 2016

57

DATE

COURSE TITLE

CPE

TIME

MEMBER

NON-MEM EVENT ID

LOCATION

ETHICS

E TH I C S 1/13/16

WEBCAST: Ethics in Practice: AICPA Code and Real Life Applications

2

2p-4p

$99

$124

111W379A

1/22/16

Ethics: It’s Not Just What You Do, But How You Do It!

4

8 a - 11:30 a

$115

$215

111025

The Loyola Graduate Center, Timonium

1/28/16

Financial Leaders Forum: The Ethics of Change: Keeping Your Balance in Risky Times

4

8 a - 12 p

$200

$250

171013

The Loyola Graduate Center, Timonium

2/4/16

WEBCAST: Ethics in Practice: AICPA Code and Real Life Applications

2

2p-4p

$99

$124

111W380A

Online Webcast, Internet

3/2/16

WEBCAST: Ethics in Practice: AICPA Code and Real Life Applications

2

2p-4p

$99

$124

111W381A

Online Webcast, Internet

4/13/16

WEBCAST: Ethics in Practice: AICPA Code and Real Life Applications

2

2p-4p

$99

$124

111W382A

Online Webcast, Internet

Online Webcast, Internet

F IN A N C I A L P L AN N I N G 5/9/16

Estate Planning for 2016 and Beyond

8

8 a - 3:30 p

$295

$395

111021

MACPA Columbia Center, Columbia

5/10/16

Fringe Benefit Planning for 2016 and Beyond

8

8 a - 3:30 p

$295

$395

111022

MACPA Columbia Center, Columbia

FRA U D & FOR E N S I C 1/7/16

WEBCAST: Fraud: Recent Findings, Red Flags and Corruption Schemes

4

1 p - 4:30 p

$149

$199

111W397A

Online Webcast, Internet

1/21/16

WEBCAST: Forensic Accounting: Uncovering Schemes and Scams

4

1p-4p

$149

$199

111W387A

Online Webcast, Internet

1/27/16

WEBCAST: Fraud and Cash Receipts: Common Frauds and Internal Controls

4

1 p - 4:30 p

$149

$199

111W392A

Online Webcast, Internet

2/12/16

WEBCAST: Fraud: Recent Findings, Red Flags and Corruption Schemes

4

1 p - 4:30 p

$149

$199

111W398A

Online Webcast, Internet

2/25/16

WEBCAST: Fraud and Cash Receipts: Common Frauds and Internal Controls

4

1 p - 4:30 p

$149

$199

111W393A

Online Webcast, Internet

4/25/16

2016 FORENSIC VALUATION CONFERENCE

9

8a-5p

$295

$395

121013

Martin’s West, Baltimore

G OV ER N M EN T / N O T- F O R - P R O F IT 1/5/16

WEBCAST: Form 990: A Comprehensive Approach to Accurate Preparation

8

9a-5p

$249

$345

111W391A

Online Webcast, Internet

1/14/16

Not-for-Profit Organizations: Key Accounting and Reporting Considerations

4

8 a - 11:30 a

$150

$200

111272A

Johns Hopkins University - Montgomery County Campus, Rockville

1/22/16

WEBCAST: Internal Control and COSO Essentials for Financial Managers, Accountants, & Auditors

8

9a-5p

$249

$345

111W406A

Online Webcast, Internet

1/28/16

FAR Cost Principles for Executives (GVC Roundtable)

2

8 a - 10 a

$40

$50

184020

MACPA Columbia Center, Columbia

2/19/16

WEBCAST: Internal Control and COSO Essentials for Financial Managers, Accountants, & Auditors

8

9a-5p

$249

$345

111W407A

Online Webcast, Internet

3/23/16

Considerations While Completeing Incurred Cost Submission (GVC)

3

8 a - 11 a

$40

$50

184021

MACPA Columbia Center, Columbia

58

STATEMENT

DATE

COURSE TITLE

CPE

TIME

MEMBER

NON-MEM EVENT ID

LOCATION

UNIQUE ACCOUNTING SKILLS TRAINING FOR YOUR UNIQUE ROLE

The Government & Not-for-Profit Conference addresses the unique technical and professional challenges of the CPAs working in these sectors. This annual, one-day event puts a special emphasis on the skills and insight that CPAs can immediately implement.

April 29, 2016

Event ID: 121000 | College Park Inn & Conference Center at UMUC

macpa.org/GNFP

STRATEGIC LEARNING POWERED BY

JANUARY 2016

59

DATE

COURSE TITLE

CPE

TIME

MEMBER

NON-MEM EVENT ID

LOCATION

GOVERNMENT/NOT-FOR-PROFIT (CONTINUED)

4/29/16

2016 GOVERNMENT AND NOT-FOR-PROFIT CONFERENCE

8

8a-5p

$255

$355

121000

University of MD University College The Inn & Conference Center, College Park

5/17/16

AICPA’s Annual Update: Top Governmental and Not-for Profit Accounting and Auditing Issues Facing CPAs

8

8 a - 3:30 p

$295

$395

111274A

Johns Hopkins University - Montgomery County Campus, Rockville

1/26/16

Incurred Cost Audits of Government Contractors & Subcontractors

8

8 a - 3:30 p

$295

$395

111031

Loyola University Maryland Graduate Ctr Columbia Campus, Columbia

1/28/16

FAR Cost Principles for Executives (GVC Roundtable)

2

8 a - 10 a

$40

$50

184020

MACPA Columbia Center, Columbia

3/23/16

Considerations While Completeing Incurred Cost Submission (GVC)

3

8 a - 11 a

$40

$50

184021

MACPA Columbia Center, Columbia

5/18/16

Southern MD GVC Roundtable

4

1p-5p

$30

$40

182060

Southern Maryland Higher Education Center, California

5/25/16

WEBCAST: BLI Thought Leader Series: The Millennial Generation and the Future

4

9 a - 12:30 p

$195

$295

17W209

Online Webcast, Internet

GO VE R N M EN T C O N T R AC T I N G

MA N A G EM E N T & L E AD E R S H I P 1/27/16

WEBCAST: LI Thought Leader Series: Look, Lead, Love, Learn: Four Steps to Better Business and a Better Life with Bill Sheridan, CAE

4

9 a - 11 a

$195

$295

191019

LIVE- ONLINE WEBCAST, INTERNET

1/28/16

FAR Cost Principles for Executives (GVC Roundtable)

2

8 a - 10 a

$40

$50

184020

MACPA Columbia Center, Columbia

1/29/16

WEBCAST: Risk, Cost, and Cash Management for Controllers and Financial Managers

4

1 p - 4:30 p

$149

$199

111W446A

Online Webcast, Internet

2/19/16

WEBCAST: Risk, Cost, and Cash Management for Controllers and Financial Managers

4

1 p - 4:30 p

$149

$199

111W447A

Online Webcast, Internet

3/21/16

WEBCAST: Risk, Cost, and Cash Management for Controllers and Financial Managers

4

1 p - 4:30 p

$149

$199

111W448A

Online Webcast, Internet

3/23/16

Considerations While Completeing Incurred Cost Submission (GVC)

3

8 a - 11 a

$40

$50

184021

MACPA Columbia Center, Columbia

3/24/16

Financial Leaders Forum: Using the Triple Bottom Line” to Increase Your Success”

4

8 a - 12 p

$200

$250

171014

MACPA Columbia Center, Columbia

4/19/16

WEBCAST: Risk, Cost, and Cash Management for Controllers and Financial Managers

4

1 p - 4:30 p

$149

$199

111W449A

Online Webcast, Internet

5/13/16

2016 BUSINESS AND INDUSTRY CONFERENCE

8

8a-5p

$395

$495

121011

Hilton Baltimore BWI Airport, Linthicum

5/19/16

Financial Leaders Forum: Enterprise Risk Management and Forecasting

4

8 a - 12 p

$200

$250

171015

The Loyola Graduate Center, Timonium

5/25/16

WEBCAST: BLI Thought Leader Series: The Millennial Generation and the Future of Business with Jamie Notter

4

9 a - 12:30 p

$195

$295

17W209

Online Webcast, Internet

5/25/16

BLI Thought Leader Series: The Millennial Generation and the Future of Business with Jamie Notter

4

9 a - 12:30 p

$195

$295

191020

Sheraton Columbia Hotel, Columbia

4

8:30 a - 12 p

$0

$50

140112

KELLY Headquarters, Sparks

S P EC I A L I ZED K N O WL E D G E 1/20/16

60

ACA and Professional Issues Update: Special Event

STATEMENT

SECU is right for your Small Business.

We have the expertise and resources that are right for you.

Your SECU Business Relationship team is flexible and responsive to your needs. We will work with you to improve your cash flow and grow your business! Not only do we offer very competitive rates and terms; we are local—so we understand the Maryland economy, and how it affects your industry, and your bottom line.

We are committed to becoming your trusted banking partner and take great personal interest in your success. Because when you do well, we do well.

Take your business banking in a different direction with SECU. Charlene Kurland

Business Relationship Banker

Click secumd.org/business Email SmallBizIsBig@secumd.com Call 443-517-5045 Business Checking, Savings, and Money Market Accounts • CDs • Online Banking and Remote Deposit Business Lines of Credit • Commercial Mortgages • SBA and Term Loans • Employee Programs and Services Federally insured by NCUA

圀䤀一

吀伀 䔀一吀䔀刀㨀 倀甀琀 礀漀甀爀

䈀唀匀䤀一䔀匀匀 䌀䄀刀䐀 椀渀 琀栀攀

䨀䄀刀 愀琀 琀栀攀 䴀䤀䌀刀伀匀伀䘀吀 伀䘀䘀䤀䌀䔀 ㌀㘀㔀

刀䔀䜀䤀匀吀刀 刀䔀䜀䤀匀吀刀䄀吀䤀伀一 吀䄀䈀䰀䔀⸀

䄀 挀漀瀀礀 漀昀 䴀椀挀爀漀猀漀昀琀 伀昀昀椀挀攀 ㌀㘀㔀 眀椀氀氀 戀攀 爀愀昀昀氀攀搀 漀昀昀 愀琀 猀攀瘀攀爀愀氀 䴀䄀䌀倀䄀 昀攀愀琀甀爀攀搀 攀瘀攀渀琀猀⸀ 䈀刀伀唀䜀䠀吀 吀伀 夀伀唀 䈀夀

DATE

COURSE TITLE

CPE

TIME

MEMBER

NON-MEM EVENT ID

LOCATION

SPECIALIZED KNOWLEDGE (CONTINUED) 1/21/16

CPA DAY

2

7:30 a - 1:30 p

$0

$0

181000

Governor Calvert House, Annapolis

1/20/16

WEBINAR: Excel for Accounting Professionals Session 2: Data Validation and Conditional Formatting

2

3p-5p

$99

$129

111W479A

Online Webcast, Internet

2/17/16

WEBINAR: Streamlined Excel Reporting Series Session 1: PivotTable Fundamentals

2

12:30 p 2:30 p

$99

$129

111W490A

Online Webcast, Internet

2/24/16

WEBINAR: Streamlined Excel Reporting Series Session 3 : PivotTable Wrap-Up and Web Data

2

12:30 p 2:30 p

$99

$129

111W502A

Online Webcast, Internet

4/25/16

2016 FORENSIC VALUATION CONFERENCE

9

8a-5p

$295

$395

121013

Martin’s West, Baltimore

5/18/16

Southern MD GVC Roundtable

4

1p-5p

$30

$40

182060

Southern Maryland Higher Education Center, California

1/5/16

WEBCAST: Form 990: A Comprehensive Approach to Accurate Preparation

8

9a-5p

$249

$345

111W391A

Online Webcast, Internet

1/6/16

The Complete Guide to the Preparation of Form 1041

8

8 a - 3:30 p

$295

$395

111016

1/6/16

WEBCAST: Health Care Reform Act: Critical Tax and Insurance Ramifications

4

1 p - 4:30 p

$149

$199

111W401A

Online Webcast, Internet

1/6/16

SMC: Federal and Maryland Tax Update

4

1p-5p

$50

$75

140705

Waldorf Jaycee Community Ctr, Waldorf

1/7/16

MACPA’s 1040 Fast Track - A Comprehensive Individual Tax Seminar for CPAs and Their Staff

16

8a-4p

$400

$500

211002

The Loyola Graduate Center, Timonium

1/8/16

WEBCAST: IRS Disputes: Identifying Options for Your Client

4

9 a - 12:30 p

$149

$199

111W410A

Online Webcast, Internet

1/11/16

Tax Consequences and Reporting Issues of LLCs, LLPs, LPs, and Other Partnerships

4

8 a - 11:30 a

$150

$200

111280A

MACPA Columbia Center, Columbia

1/11/16

Smart Tax Planning Strategies for Individuals

4

12 p - 3:30 p

$150

$200

111281A

MACPA Columbia Center, Columbia

1/11/16

WEBCAST: Payroll Taxes and 1099 Issues: Everything You Need to Know

8

10:30 a 6:30 p

$249

$345

111W419A

Online Webcast, Internet

1/11/16

AACC: Multi-State Tax Update

4

2p-6p

$40

$50

140608

1/12/16

Annual Tax Update: Individuals and Sole Proprietors

8

8 a - 3:30 p

$295

$395

111271A

Johns Hopkins University - Montgomery County Campus, Rockville

1/12/16

WEBCAST: Construction Contractors: Accounting, Auditing, Tax

8

9a-4p

$249

$345

111W363A

Online Webcast, Internet

1/12/16

WEBCAST: Taxation Essentials of LLCs and Partnerships

8

9a-5p

$249

$345

111W457A

Online Webcast, Internet

1/14/16

WEBCAST: Capitalized Costs and Depreciation: Key Issues and Answers

4

1 p - 4:30 p

$149

$199

111W358A

Online Webcast, Internet

1/15/16

CAC: State Tax Update

4

8 a - 12 p

$60

$70

140505

Johns Hopkins University - Montgomery County Campus, Rockville

1/19/16

WEBCAST: Smart Tax Planning Strategies for Individuals

4

1 p - 4:30 p

$149

$199

111W450A

Online Webcast, Internet

1/19/16

WEBCAST: S Corporation Fundamentals

8

9a-5p

$249

$345

111W477A

Online Webcast, Internet

1/20/16

ACA and Professional Issues Update: Special Event

4

8:30 a - 12 p

$0

$50

140112

KELLY Headquarters, Sparks

1/21/16

CPA DAY

2

7:30 a - 1:30 p

$0

$0

181000

Governor Calvert House, Annapolis

1/21/16

MACPA’s 1040 Fast Track - A Comprehensive Individual Tax Seminar for CPAs and Their Staff

16

8a-4p

$400

$500

211003

Johns Hopkins University - Montgomery County Campus, Rockville

TAX

62

The Loyola Graduate Center, Timonium

J. King’s (formerly Kaufmann’s), Gambrills

STATEMENT

What’s on Line 37?

Your opportunity to make a tax-deductible donation to the Maryland Cancer Fund which provides cancer prevention, screening and treatment for low-income Maryland residents.

Please Donate on Line 37 for Tax Year 2015! http://phpa.dhmh.maryland.gov/cancer/SitePages/mcf_home.aspx

201 West Preston Street, Baltimore, MD 21201 • 410-767-6213

Larry Hogan, Governor | Boyd Rutherford, Lieutenant Governor | Van Mitchell, Secretary

DATE

COURSE TITLE

CPE

TIME

MEMBER

NON-MEM EVENT ID

LOCATION

TAX (CONTINUED) 1/22/16

WEBCAST: Annual Tax Update: Individuals and Sole Proprietors

8

9a-5p

$249

$345

111W482A

Online Webcast, Internet

1/25/16

WEBCAST: Individual Tax Fundamentals

8

10:30 a 6:30 p

$249

$345

111W483A

Online Webcast, Internet

1/26/16

WEBCAST: Basis/Distributions for Pass-Through Entities: Simplifying the Complexities

8

9a-5p

$249

$345

111W357A

Online Webcast, Internet

1/28/16

WEBCAST: Social Security and Medicare: Maximizing Retirement Benefits

4

1 p - 4:40 p

$149

$199

111W451A

Online Webcast, Internet

1/29/16

WEBCAST: Annual Tax Update: Corporations and PassThrough Entities

8

9a-5p

$249

$345

111W488A

Online Webcast, Internet

2/3/16

WEBCAST: Health Care Reform Act: Critical Tax and Insurance Ramifications

4

1 p - 4:30 p

$149

$199

111W402A

Online Webcast, Internet

2/9/16

WEBCAST: Payroll Taxes and 1099 Issues: Everything You Need to Know

8

9a-5p

$249

$345

111W420A

Online Webcast, Internet

2/22/16

WEBCAST: Annual Tax Update: Corporations and PassThrough Entities

8

10:30 a 6:30 p

$249

$345

111W500A

Online Webcast, Internet

2/23/16

WEBCAST: Annual Tax Update: Individuals and Sole Proprietors

8

9a-5p

$249

$345

111W501A

Online Webcast, Internet

2/24/16

WEBCAST: Social Security and Medicare: Maximizing Retirement Benefits

4

1 p - 4:40 p

$149

$199

111W452A

Online Webcast, Internet

3/3/16

WEBCAST: Health Care Reform Act: Critical Tax and Insurance Ramifications

4

1 p - 4:30 p

$149

$199

111W403A

Online Webcast, Internet

3/23/16

WEBCAST: Social Security and Medicare: Maximizing Retirement Benefits

4

1 p - 4:40 p

$149

$199

111W453A

Online Webcast, Internet

4/6/16

WEBCAST: Health Care Reform Act: Critical Tax and Insurance Ramifications

4

1 p - 4:30 p

$149

$199

111W404A

Online Webcast, Internet

Learn the skill of anticipation.

Watch the Product Demo at BLIonline.org/AO

“Identifying future trends and seizing the opportunities in the present is the key to our success – and it’s a skill we can learn.”

64

DANIEL BURRUS

STATEMENT

DATE

COURSE TITLE

CPE

TIME

MEMBER

NON-MEM EVENT ID

LOCATION

TAX (CONTINUED) 4/13/16

WEBCAST: Social Security and Medicare: Maximizing Retirement Benefits

4

1 p - 4:40 p

$149

$199

111W454A

Online Webcast, Internet

4/26/16

WEBCAST: Construction Contractors: Accounting, Auditing, Tax

8

9a-4p

$249

$345

111W364A

Online Webcast, Internet

5/9/16

Estate Planning for 2016 and Beyond

8

8 a - 3:30 p

$295

$395

111021

MACPA Columbia Center, Columbia

5/10/16

Fringe Benefit Planning for 2016 and Beyond

8

8 a - 3:30 p

$295

$395

111022

MACPA Columbia Center, Columbia

5/16/16

2016 EMPLOYEE BENEFIT PLAN CONFERENCE

8

8 a - 4:30 p

$300

$400

121012

Sheraton Columbia Hotel, Columbia

T ECH N OL OG Y 1/19/16

BLI PILOT PROGRAM: Excel Beginner to Intermediate

4

8 a - 11:30 a

$75

$75

110107

MACPA Columbia Center, Columbia

1/27/16

Excel Hot Topics for CPAs

8

8 a - 3:30 p

$330

$480

130222

MACPA Columbia Center, Columbia

2/2/16

Excel Advanced Productivity Features for CPAs - Functions, Data Analysis, Macro Recorder and Tips

8

8 a - 3:30 p

$330

$480

130223

MACPA Columbia Center, Columbia

3/16/16

Microsoft Office 2013 New Productivity Features for CPAs: Excel, Outlook, Word, PowerPoint, OneNote

8

8 a - 3:30 p

$330

$480

130224

MACPA Columbia Center, Columbia

3/22/16

Excel Worksheet Refresher for CPAs

8

8 a - 3:30 p

$330

$480

130225

MACPA Columbia Center, Columbia

5/11/16

PowerPoint: Create Dynamic Financial Presentations with Business Graphics

8

8 a - 3:30 p

$330

$480

130226

MACPA Columbia Center, Columbia

5/12/16

Excel Advanced Productivity Features for CPAs - Functions, Data Analysis, Macro Recorder and Tips

8

8 a - 3:30 p

$330

$480

130227

MACPA Columbia Center, Columbia

Thought Leader Series

THE MILLENNIAL GENERATION AND THE FUTURE OF BUSINESS WITH JAMIE NOTTER

May 25, 2016 Sheraton Columbia Hotel Event ID: 191020 Whether we are ready for it or not, the future of business is here. It’s a future in which organizations must learn how to move faster, flatten their hierarchies, share more openly, and operate more digitally. And although many of these changes are a direct result of the Millennial generation shaking up today’s workplaces, it’s much bigger than that.

This new era goes beyond generations–and requires leaders from every generation to learn new ways of JANUARY 2016 working, leading, and managing.

65

MARYLAND ASSOCIATION OF CERTIFIED PUBLIC ACCOUNTANTS 901 Dulaney Valley Road, Suite 800 Towson, MD 21204 410.296.6250 | www.macpa.org

Real Estate Investment Sales Specialists Consultation ● Evaluation ● Disposition ADVISING LOCAL, REGIONAL, AND NATIONAL INVESTORS FOR DECADES!

CONTACT: Gary S. OLSCHANSKY golschansky@troutdaniel.com 443.921.9348 (direct)

30 E. Padonia Road, Suite 504 Timonium, MD 21093 410.435.4004