MACPA Statement // Winter 2025

STATEMENT

MEMBER SERVICES

Lauren McDonough

Justin Chase

PEER REVIEW

Cora Edwards

PROFESSIONAL DEVELOPMENT

Natalie Antonakas

Kelly Brown

Chris Dougherty

Emily Trott

SPONSORSHIP / ADVERTISING

Michelle Brown, M.Ed.

202 4 –202 5

BOARD OF DIRECTORS

OFFICERS

Thomas White, CPA, CGMA Chair

Maxene M. Bardwell, CPA, CIGA, CIA, CFE, CISA, CITP, CRMA Vice Chair

Savedra N. Scott, CPA, CGMA, CrFAC, MSA, MBA

Secretary / Treasurer

Christine Aspell, CPA

Immediate Past Chair

DIRECTORS

Karl Ahlrichs, SHRM-SCP, SPHR, CSP

Monique Booker, CPA

Jackie Cardello, CPA

Michele Chalmers, CPA

Bo Fitzpatrick, CPA

Robert Goldstein, CPA

Gregory Repas, CPA

Janice Stucke, CPA

SENIOR STAFF

Rebekah Olson, CPA, CEO

Laura Swann, CPA CFO

Bill Sheridan, CAE CCO

Mary Beth Halpern, Director Technical Services/Regulatory Affairs

Dee Sullivan, Director of Learning

Michelle Brown, M.Ed., Chief Growth & Innovation Officer

From the Desk of Our CEO

In an ever-evolving legislative and regulatory landscape, the MACPA’s role has never been more critical. The profession’s talent shortage is a perfect illustration.

As numerous proposals surfaced last year to address our talent issues and maintain the profession’s high standards, folks throughout the profession raised concerns about maintaining CPA competence and trust that we represent. The MACPA collaborated with NASBA, the AICPA, Maryland’s State Board of Public Accountancy, and our fellow state CPA societies to advocate for reform that preserves the rigor and integrity of the CPA designation.

Similarly, the MACPA has championed Senate Bill 51 — introduced by Sen. Arthur Ellis, himself a CPA — to safeguard CPA mobility in Maryland. Mobility provisions enable CPAs licensed in one state to temporarily practice in another without additional barriers — a cornerstone of professional flexibility in today’s interconnected world. SB 51 aims to solidify these protections, ensuring that current practice privileges remain in Maryland.

Going forward, the MACPA will also continue to oppose efforts to enact sales taxes on professional services — a critical concern this year as legislators continue to search for new sources of revenue — and work closely with the Maryland Board of Accountancy to modernize licensure, protect mobility and introduce additional pathways that allow for qualified candidates to enter the profession.

These are just a few examples of how the MACPA is working to protect your ability to serve clients, run your practice, and grow your career. But we cannot do it alone. Advocacy is a collective effort. Every CPA has a role to play in amplifying our voice and driving positive change.

Your engagement is vital. Whether it’s participating in grassroots campaigns, sharing your insights during policy discussions, donating to our political action committee, or simply staying informed, your involvement strengthens our collective impact. Advocacy is most effective when lawmakers hear directly from the CPAs whose work their decisions affect. Your expertise and real-world experience bring invaluable perspective to the table.

As we continue to advocate on your behalf, I urge you to join us in this mission. Together, we can ensure that the CPA credential remains synonymous with excellence and trust.

WE WANT TO HEAR FROM YOU! See below to submit content

FOR CONTENT SUBMISSION: Bill Sheridan | MACPA bill@macpa.org feedback@macpa.org TO ADVERTISE IN THE STATEMENT: sponsorship@macpa.org

so it begins … Maryland CPAs begin critical 2025 legislative work at CPA Day in Annapolis

CPA PURPOSE

Business & Industry Conference

Government & Not-for-Profit Conference

Government Contractors Conference

Get ready for an all-in-one day of learning, networking, and community building with accounting and finance professionals from across the state!

CONVERGE

April 28, 2025

Earn 7.5 CPE credits, or up to 8.5 with optional sponsor sessions.

BWI Hilton | Baltimore, MD

KEYNOTE SPEAKER: Dr. Anirban Basu Chairman & CEO, Sage Policy Group

ENDNOTE SPEAKER: Adam Bradley

The Dr. Nancy Grasmick Leadership Institute

For CPAs legislative advocacy has never been more important

As the Maryland General Assembly’s 2025 legislative session continues, the stakes for CPAs have rarely been higher. Facing a projected budget deficit of approximately $2.7 billion by 2027, lawmakers are exploring various avenues to address the shortfall.

One proposal under consideration is the expansion of the state’s sales and use tax to encompass professional services, including those provided by CPAs. House Bill 1515, introduced in last year’s session, sought to reduce the sales tax rate from 6% to 5% while broadening its application to a wide range of services. Although this bill did not pass , the current budget crisis may revive interest in similar measures.

The implications of such a tax expansion are significant. While it might help alleviate short-term budgetary pressures, it would burden the citizens and businesses of Maryland unnecessarily with additional taxes and compliance complexity. We believe any proposal to implement sales taxes on professional services would be bad for small business in Maryland, and we will work to defeat such legislation if introduced.

Beyond the immediate concern of service taxation, the MACPA has outlined a comprehensive legislative agenda to advocate for the profession’s interests during this critical session. Other key priorities include:

1. Support enhanced mobility for CPAs.

As conversations continue about how to best address the CPA profession’s ongoing talent shortage, proposed new legislation aims to maintain CPA mobility in Maryland by adjusting existing statutes to accommodate evolving licensure pathways in other states.

2. Opposing efforts to replace Maryland’s contributory negligence standard with a comparative fault rule.

Maryland courts allow a person sued for negligence or wrongdoing to raise the “contributory negligence” defense — that is, the party sued may claim that the plaintiff contributed to his injury and thus should not be allowed to recover from the defendant. This long-standing rule in Maryland courts prevents a person from shifting his or her responsibility to others.

THOMAS WHITE, CPA, CGMA

Assistant Vice President and Assistant Controller, Prime Therapeutics

CHAIR

3. Support proper budget funding for the Maryland Comptroller’s Office.

During the past two General Assembly sessions, the MACPA has supported the Maryland Comptroller’s Office’ request for additional funding needed to carry out its extensive agenda. The Legislature agreed, and good things have happened during the past year thanks to the additional funds, but the need for expanded funding still exists.

In light of these pressing issues, active engagement in legislative advocacy is not merely beneficial but imperative. Scores of MACPA members took that message to heart on Jan. 16 by turning out for the MACPA’s annual CPA Day in Annapolis. You’ll find a recap of the event on pages 7-9.

In addition to personal involvement, financial contributions to the MACPA’s political action committee amplify the profession’s voice in the legislative arena. The PAC supports candidates and initiatives aligned with the interests of CPAs, facilitating informed decision-making and advocacy efforts.

The challenges presented by the upcoming legislative session are formidable, but they also offer a pivotal moment for CPAs to assert their expertise and advocate for policies that promote fiscal responsibility and economic growth. By attending CPA Day in Annapolis and contributing to the MACPA’s PAC, professionals can play an active role in shaping the legislative landscape to support the accounting profession and the clients they serve.

The upcoming legislative session stands as a critical juncture for CPAs in Maryland. The potential expansion of the sales tax to include professional services underscores the necessity for robust legislative advocacy. Engagement through events like CPA Day and support for the MACPA PAC are instrumental in ensuring that the voice of the accounting profession is heard and heeded in Annapolis. Your participation is not only encouraged but essential to safeguard the interests of our profession and the economic well-being of our state.

MACPA

Dozens sworn in as Maryland’s newest CPAs

BY BILL SHERIDAN, CAE

A profession hungry for good news on the talent front found plenty of inspiration on Nov. 20 as 45 of Maryland’s newest CPAs were sworn into the profession as part of the Maryland Association of CPAs’ annual Newly Licensed CPA Swearing-In Ceremony, sponsored by the MACPA Foundation.

Held at the Maryland Live! Casino and Hotel in Hanover, Md., the event brought together newly licensed professionals who became CPAs during the past year to take an oath that reaffirms their commitment to their clients, their profession, the state of Maryland, and the publics they serve. The oath reads:

I solemnly swear that I will assume the responsibilities and obligations as a certified public accountant in the state of Maryland and in the United States of America.

I will support the laws and regulations and perform my professional duties to the best of my ability in an ethical, professional, and objective manner.

As a CPA, I will uphold the honor and dignity of the accounting profession and abide by the rules of professional conduct.

While the oath is strictly ceremonial, the presence of new CPAs at the event is evidence of their dedication to the future of the profession, and the ceremony itself plays an important role in a CPA’s early career in a couple of key ways:

Not only does the ceremony give new CPAs and their families an opportunity to celebrate their accomplishments, but it forces those attending to actually verbalize their commitment to serving the public. Passing the exam and earning your license is one thing. Standing in front of state and federal regulators, raising your right hand and promising to do the right thing is a much more powerful step, and one the new CPAs will remember when faced with professionally and morally difficult decisions.

When you talk to the new CPAs, you quickly realize how much the event means to them. Previous “Swearing-In” participants have called the event “the exclamation point” on their years of studying and exam preparation, and “the most important experience” of their lives.

The dignitaries in attendance urged Maryland’s newest CPAs to build on the excitement of the event by saying “yes” to

“This profession has given me so much, and my purpose is to give back just a little bit more than what it’s given me. As you springboard into your next chapter as a CPA, remember to say ‘yes’ as often as you can.”

the many opportunities that being a CPA provides — and to pay it forward by finding the purpose behind their work and serving others.

“Say ‘yes’ to giving back, to continuing to invest in yourself, to finding the purpose behind your work, to being a part of this profession, and to leaving the profession better than you found it,” MACPA Board Chair and Prime Therapeutics

Assistant Controller Thomas White, CPA, CGMA, told the new CPAs. “This profession has given me so much, and my purpose is to give back just a little bit more than what it’s given me. As you springboard into your next chapter as a CPA, remember to say ‘yes’ as often as you can.”

“Earning those three powerful letters — CPA — demonstrates your commitment to excellence, integrity, and service,” added MACPA President and CEO Rebekah Olson, CPA. “As you begin this exciting chapter, I encourage you to reflect on your why — your CPA purpose. What impact do you want to make? How will you contribute to this community and the next generation?”

Jan Williams, Ph.D., CPA, chair of the Maryland State Board of Public Accountancy and Lockheed Martin Professor of Accounting at University of Baltimore, told the new CPAs that their that purpose includes the critical role CPAs play in ensuring the financial and economic viability of their clients, their communities, and the nation at large.

“You are now part of a community of accounting professionals who play a vital role in ensuring the financial health and transparency of businesses and organizations,” Williams said. “You are now a trusted advisor, a gatekeeper, a guardian of financial information. Your role impacts the economic landscape because without CPAs, there is no economy.”

The oath was administered by Sarah McDermott, assistant commissioner for Occupational and Professional Licensing at the Maryland Department of Labor.

The Swearing-In Ceremony was made possible by the MACPA Foundation.

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

Hundreds taught future skills at 2024 MACPA High School Leadership Academy

BY BILL SHERIDAN

High schoolers through Maryland introduced to accounting, learn skills that will guide them throughout their careers

More than 200 students from 10 schools throughout Maryland were given an introduction to the accounting and finance profession and learned skills that will be critical to their future success during the 2024 Maryland Association of CPAs / AICPA-CIMA High School Leadership Academy.

Held at the Community College of Baltimore County’s Essex Campus, the event offered Maryland high school students an inside look at topics such as auditing, forensic accounting, and new technologies like artificial intelligence and the impact they are having on the profession. Attendees also learned the basics of professional networking, discovered the benefits of early-career apprenticeships, and were offered tips on how to build a career path toward accounting entrepreneurship.

Students also received an introduction to the Color Accounting learning system, a new way to learn and teach how accounting works. Color Accounting rapidly delivers accounting literacy which, in turn, supports powerful financial literacy and business acumen for students.

The 230 students in attendance were a cross section of high schoolers from throughout Maryland, representing Baltimore City and Calvert, Prince George’s, Charles, Harford, and Baltimore counties. High schools that sent students to the event included Loch Raven, Overlea, Dulaney Valley, Calvert, Huntington, Northern, Patuxent, St. Charles, Bel Air, and Aberdeen.

“We’re thrilled with the overwhelming response to this year’s High School Leadership Academy,” said MACPA President and CEO Rebekah Olson, CPA. “Interest in the accounting and

finance profession is on the rise, and more and more CPAs are stepping up to spread the good word about our profession and help inspire the next generation of CPAs. The future of the profession is bright, and getting brighter each day. We look forward to working with these talented students as they begin forging their paths to successful careers.”

More than 30 volunteers lent their talents to help bring the event to life. Speakers included former MACPA and American Institute of CPAs Chair Kimberly Ellison-Taylor; former MACPA President and CEO Tom Hood, currently the executive vice president of business engagement and growth for the American Institute of CPAs; and other thought leaders and dignitaries from throughout the profession, including Tanyeka Alexander, Faith Balshan, Michele Chalmers, Sean Crevier, Joanne Fiore, Samantha Fisher, Timothy Redmond, Karl Spanbauer, and Cheryl Zaydel.

The MACPA’s 2024 High School Leadership Academy was held in partnership with the American Institute of CPAs and the Chartered Institute of Management Accountants. It was 100% federally funded through the Maryland State Department of Education’s Grant Number 232095 in the amount of $999,850, awarded to Vermont Healthcare Information Technology Education Center, Inc., DBA Institute for American Apprenticeships (IAA).

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

AND SO IT BEGINS …

Maryland CPAs begin critical 2025 legislative work at CPA Day in Annapolis

BY BILL SHERIDAN, CAE

With the legislative stakes as high as they’ve ever been, scores of Maryland CPAs and their supporters converged on Annapolis on Jan. 16 for the Maryland Association of CPAs’ annual CPA Day of advocacy.

Held in one of the nation’s oldest, most historic state capitols, the event brought CPAs from throughout the state to Annapolis, where the state’s General Assembly has gathered for its 2025 legislative session.

And what a session it promises to be.

Maryland’s budget gap is growing, with one analyst predicting that the state will be able to cover only 84% of its expenses by 2030. “That is the largest gap that we have seen in the last 20 years,” Department of Legislative Services budget analyst David Romans told Maryland Matters. “It is more significant than the Great Recession.”

Maryland Senate President Bill Ferguson has said “everything is on the table” as lawmakers look for ways to address the budget shortfall. That could include yet another effort to enact a sales tax on professional services, including those provided by CPAs.

Several campaign promises made by returning President Donald Trump could make a bad state budget situation even worse. With 8% of Maryland taxpayers earning federal paychecks and $42 billion in federal contracts directly impacting our state, efforts to scale back government projects and employment would be particularly painful to Maryland. State lawmakers could be tasked with raising the revenue needed to offset the potential losses.

The CPA profession’s ongoing talent shortage could compel lawmakers to examine Maryland regulations and accommodate evolving licensure pathways in other states.

The convergence of these critical legislative issues highlights the growing importance of legislative advocacy for Maryland’s CPAs — as well the vital role CPAs play in advising the lawmakers tasked with addressing the state’s fiscal challenges.

“In times like this, you guys are our dream team,” Lt. Gov. Aruna Miller told the CPAs in attendance. “You play such a huge role in making sure our state is financially sound, that we are investing strategically, and that our policies are fiscally appropriate. Your insights are so important, and we’re thrilled that you take the time to make your voices heard.”

At the heart of the CPA Day conversations was the state’s budget shortfall. A day earlier, Maryland Gov. Wes Moore released a proposed $67.3 billion budget that outlines his plans for closing an estimated $3 billion budget gap. Those plans cal l for nearly $2 billion in spending cuts, leaving about $1 billio n to be raised in new revenue. Moore hopes to raise the bulk of that through new taxes on the state’s wealthiest taxpayers, but the MACPA and its members will be watching legislative negotiations carefully as other revenue-generating ideas surface.

“We walked in here with a $3 billion structural budget deficit, which we must deal with. We have to walk out of here having solved that,” state Sen. Brian Feldman, chair of the Senate’s influential Energy, Education and the Environment Committee and one of three CPAs currently serving in Maryland’s General Assembly. “(The governor’s proposed budget) is the first inning of a nine-inning game.

“We walked in here with a $3 billion structural budget deficit, which we must deal with. We have to walk out of here having solved that”

“CPAs have a tremendous amount of credibility here, particularly on these critical business and tax issues,” Feldma n added. “Legislators see (the CPA) agenda as being more objective because you’re speaking on behalf of your clients and Maryland’s business community.”

Other dignitaries on hand to address the CPAs included Maryland’s other two elected CPAs, Sen. Arthur Ellis and Del. William Wivell; Sen. Guy Guzzone, chair of the Senate’s Budget & Taxation Committee, which will play a critical role during this year’s legislative session; Grason Wiggins, vice president of government affairs for the Maryland Chamber of Commerce; Andrea Mansfield of MACPA lobbyists Manis Canning & Associates, who offered insights into Maryland’s budget challenges; Barrett Young, CPA, who provided an update on recent Maryland Board of Public Accountancy activities; and Karen Syrylo, CPA, who offered insights into tax-related legislative issues.

CPAs’ agenda: Five key issues

MACPA members braved the mid-winter cold and dodged construction projects at and near the iconic statehouse to visit their elected officials and discuss the profession’s 2025 legislative agenda, which is highlighted by five key issues:

1. Support enhanced mobility for CPAs.

2. Opposing sales taxes on professional services, including those provided by CPAs.

Proposing a sales tax on services to raise revenue would burden the citizens and businesses of Maryland unnecessarily with additional taxes and compliance complexity. It also would

negatively impact economic growth and development. CPAs believe any proposal to implement sales taxes on professional services would be bad for small business in Maryland, and the MACPA will work to defeat such legislation if introduced.

3. Opposing efforts to replace Maryland’s contributory negligence standard with a comparative fault rule.

At present, Maryland courts allow a person sued for negligence or wrongdoing to raise the “contributory negligence” defense — that is, the party sued may claim that the plaintiff contributed to his injury and thus should not be allowed to recover from the defendant. This long-standing rule in Maryland courts prevents a person from shifting his or her responsibility to others.

The contributory negligence standard should be maintained in Maryland because:

it prevents a flood of suits by plaintiffs who have a disproportionate amount of fault; it keeps the lid on insurance premium growth rates; it fosters the exercise of due care by all persons; and it enhances the predictability of litigation, including its costs.

4. Support proper budget funding for the Maryland Comptroller’s Office.

5. Support the granting of an “emeritus” status for professional licensees , including CPAs, under certain circumstances as outlined in Senate Bill 148.

A comprehensive list of position papers and the bills the MACPA is following this year will be found throughout the legislative session at MACPA.org/advocacy.

“What we do here matters,” said Thomas White, CPA, CGMA, chair of the 2024-25 MACPA Board of Directors. “This year it matters more than ever, given the bills that have been introduced that impact our profession, our businesses and our clients.”

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

Support our PAC … and strengthen the CPA’s voice in Annapolis

Maryland’s General Assembly meets in Annapolis each year and votes on critical issues that impact your profession, your livelihood, and the businesses you serve.

That’s why we urge you to support the CPA Committee on Political Action. The CPA/CPA is the only political action committee in Maryland dedicated solely to fighting for CPAs in the legislative arena.

Good relationships with legislators are the core of the MACPA’s legislative advocacy efforts. Your contribution to the CPA/CPA is one of the easiest and most effective ways for CPAs to get involved in the political process and have an impact on the profession.

Contributions to our PAC lag far behind other professional groups. This puts us at a severe disadvantage, especially when certain groups have interests opposed to ours and have far greater PAC participation from the

Through contributions from members like you, the PAC works toward favorable outcomes on legislative issues, educates legislators about matters that are important to the CPA profession, and keeps MACPA members informed. But we can’t do it alone. Your involvement makes a difference and ensures that, together, we make the greatest impact.

Please support the MACPA’s CPA/CPA today by donating online at MACPA.org/advocacy. Or scan the QR code at the left.

Your contribution to the CPA/CPA will allow us to support legislators from both parties, and help the CPA profession maintain an influential presence in Annapolis. Thanks so much for your support!

YOUR VOICE MATTERS

Protect Our Profession. Support Our PAC

Make a Difference at the Legislative Level

Voluntary contributions to the PAC–of any size–are vital for maintaining an influential presence in Annapolis and advocating for the future of the accounting and finance profession.

P OLITICAL A CTION COMMITTEE

Your PAC investment helps:

» Educate lawmakers on the significance of our profession

» Support bipartisan candidates who champion our interests

» Ensure proper funding for the Comptroller's office

» Limit harmful legislation which includes sales tax on services

scholarships available

For Accounting & Finance Students and CPA Candidates

YOUR PATH TO BECOME A CPA

Take the steps now to make it possible to become a CPA in the future. Open the door to incredible career opportunities and make meaningful contributions to our society.

Funded by the MACPA Foundation, there are multiple opportunities available:

This Way to CPA Academic Scholarships

CPA Exam Fee Scholarship

CPA Exam Review Fee Scholarship

View eligibility requirements and APPLY: macpa.org/scholarships

Award amounts are based on need and student achievement.

Share your own CPA story by visiting MACPA.org/Why

The MACPA is collecting stories from members about why they joined the profession, what they love about their careers, and the purpose behind the critical work they do. Our goal is to inspire more students to consider accounting and finance as a career, and to show them the passion that supports this profession.

A deeper understanding of business

In this edition of The Statement, we’re featuring insights from Under Armour Chief Financial Officer David Bergman.

Listen to this complete conversation and others by visiting MACPA.org/Why.

What attracted you to accounting as a career option?

I knew I enjoyed math. It was kind of a natural strength of mine. But I also was very interested in the business side, and the accounting profession was kind of that natural intersection of math and business acumen. That’s what originally drew me to the major. But then I started to understand the opportunities that can come with an accounting degree, understanding the building blocks of it. My desire has always been to understand how the nuts and bolts work. I was a kid that grew up playing with Legos; I wanted to take things apart and rebuild them. Understanding the debits and credits and how things actually translated and made their way through to the financial statements was always kind of interesting to me.

What surprised you most about the path you chose?

The first thing was realizing how much you learn. Here’s what I mean: Let’s say you start at one of the Big Four public accounting firms and you’re on a job that’s being run by a senior auditor who’s two years out of college. You’ll probably ask yourself, “How on Earth do they know so much already? How do they know how to supervise me and teach me so many things when they’ve only been in their role for two years? Then, a couple of years later, you realize that you’re ready to run a job, you’re ready to run an audit, you’re ready to have those tough

conversations with the controller and the CFO and work through those business issues. It is just amazing how many different touch points you have with different industries early on in the profession and how quickly you can become a very experienced and knowledgeable professional.

What’s the purpose behind your work? What do you accomplish by being a CPA?

Being a CPA fosters an extra level of accountability. The CPA profession brings extra clarity and integrity to the business world, which is really important.

Then, as I progressed through public accounting into corporate accounting, internal audit, and then into corporate controllership, financial planning and analysis, and ultimately into my role now as chief financial officer, understanding how the various components work is really important. Having an accounting background and the CPA designation keeps you very grounded. As you’re going through financial and analytical and business conversations, in the back of your mind, you’re always grounded in knowing how the numbers ended up where they are and what can influence them. It grounds you and gives you an extra sense of control.

Features:

MARYLAND PERSONAL PROPERTY SOFTWARE

 Multi-User-Network Compatible.

 Easy installation.

 Full screen editing and Pull-Down menus make data entry simple and efficient.

 Field marking (Tick Marks) for review and verification.

 Data files can be stored on any drive/folder

 Error checking routines prevent common mistakes.

 On screen totals - Updated with each entry.

 Prints government approved returns on plain paper: Form 1 Corporations, LLC’s, LLP, etc.; Form 2 Partnerships and Sole Proprietorships; Form 5 Bank, Saving & Loans and Trust Companies, Form 7 Rental Property.

 Multiple location capability for all entities.

 Populates SDAT provided excel worksheet for multiple location returns.

 Assessment calculations with user adjustable tax rates and assessments.

 On screen print preview.

 Print from print menu or Preview screen.

 Print options - Entire return, Batched returns, single and multiple pages.

 Prepares and prints a collated signature ready return.

 Direct link to SDAT portal for filing extensions .

 Prints client lists - All clients, filed returns and unfiled returns.

 Information saved and updated annually.

 Multi-Featured form letter preparation or link to MS Word for full featured processing.

 Form letters can be used for Transmittals, Filing Instructions, Billing, etc.

 User friendly - Screens simulate actual return.

 Unlimited number of clients.

 Concise, easy -to-read user’s manual.

 Automatic Internet updates.

 Free unlimited telephone and email support, including weekends during peak times.

FREE 2025 TRIAL VERSION

☺ No obligation. Simply use the link below www.uss-tpp.com/download/md2025.exe

☺ This is a full working edition with restricted printing pending release of approved forms by the SDAT.

☺ Get started on the 2025 filing season.

☺ Enjoy the time saving and ease of use.

☺ Print professional looking returns

LEGACY MEMBERSHIP

The MACPA honors the 2024-2025 class of new Legacy Member inductees

Jeff Wellener

Greg Lloyd

Dave Rosas

Katy Giannelli

Rico Talerico

Amy Rivera

Diana Petro

Wally Eddleman

Ellen Silverstein

Carol Beauchamp

Jack Slick

Mark Krebs

John Cecil

Charles Meehan

Ronald Lipella

Susan Murk

Karen Holweck

James Burgess

Neil Moyer

Rick Potocek

Phil Mantua

Kimberly Chaney

Dan Lentz

Stan Fredericks

Bob Baldassari

Jim Summers

Frank Ecker

Steve Lapointe

Timothy Michaels

Bernadette Harwood

Gerry Walsh

Mitch Berman

Jeff Pruitt

Rick Hoffman

Judy Hines

Jonathan Lowenberg

Joyce Leege

Leo Bruette

David Miller

Pam D. Morris

Rich Neuman

Howard Tash

Fred Leffler

Joseph Lanciano

Fred Burke

Ed Norman

Ernie Viscuso

Dani Mckew

Jim Ellis

Greg Reisler

Lauran Penn

Donald Stevens

Frank Savarese

Cindy Herman

Michael Kleger

Sharie Hyman

Bill Larash

Paul Wallace

Mathew Aloth

Janet Gomes

William Busch

Ira Bormel

Donald Cunningham

Al Nishi

Aaron Bloom

Mark Moser

Bruce Reeder

Clif Williams

Bob Balin

Helen Sadorra

Ellen Horner

Ronald Katzen

Dinah Hanson

Karen Mitchell

Heidi Garman

Steven Gelblum

Margie Frisk

Carole Wiedorfer

Jeffrey May

Craig Rosin

James Judge

Patricia Mckenna

These professionals are joining a group of over 200 MACPA Legacy Members, a new designation started in 2022 to honor those with over 40 years of membership with MACPA.

Thank you for your service to the public, our profession, and our association. We are #CPAProud.

MACPA PROFILE UPDATE YOUR

Help Us Help You!

By updating your profile with MACPA, you’ll receive exclusive, tailored resources that enhance your career. Keeping your personal and professional information current allows us to recommend events and products that truly benefit you.

Update your info macpa.org/account-settings

Make sure the following is up-to-date:

Profile Information

Contact Information

Work Information

Professional License & Certifications

Communication Preferences

Need to change the email address associated with your membership or have questions? Contact our team at team@macpa.org. We’re happy to help!

WHY VOLUNTEER?

Impact

Be a role model for high school students who are exploring career options. Your insights and experiences can make a lasting impression and inspire the future generation of accountants.

Engagement

Connect directly with students and educators – share your passion for accounting and debunk myths about the profession. Volunteering in classrooms provides a unique opportunity for personal growth and fulfillment.

Future Leader

BRANDON ARNOLD

Finance & Accounting Major | President of Towson University Investment Group | CBE Student Ambassador | Business Owner

Who has been your greatest mentor or inspiration in accounting, and why?

Future Leader highlights future accounting and finance leaders in Maryland as they share their inspirations, challenges, opportunities, and lessons they’ve learned about leadership and our profession along the way.

What inspired you to pursue a career in accounting?

I’ve always been drawn to the structure and precision accounting provides, and I’ve come to recognize its vital role in an organization’s success. One experience that truly solidified my interest was creating an equity research report for a company in the Towson University Investment Group. By diving into the financial statements, I gained a deeper understanding of how accounting reveals critical insights about a company. Analyzing this data and using it to make informed decisions was incredibly rewarding, and it further strengthened my appreciation for accounting’s ability to provide clarity and shape a company’s financial narrative.

One of my greatest mentors in accounting has been Trevor Dauses at Deloitte. He has been incredibly generous with his time, meeting with me to share his experience in audit and offering valuable insights into the exciting and dynamic nature of his day-to-day work. Trevor’s guidance has helped me understand the broader opportunities within the field, and I’m deeply grateful for the time he invested in mentoring me. His talk at the MACPA Student Leadership Academy was particularly inspiring and reinforced my passion for accounting and the impact it can have in driving change within organizations.

What advice would you give to students considering a career in accounting??

For students considering a career in accounting, I would encourage them to embrace curiosity and commit to being a lifelong learner. Accounting is a constantly evolving field, and staying adaptable is key; whether it’s learning new technologies, staying up to date with accounting standards, or understanding emerging business trends. I’ve found that gaining practical experience, whether through internships or student organizations, has been invaluable in shaping my understanding of the field. For example, through my time with the Towson University Investment Group and my internships, I’ve learned firsthand how accounting principles are applied in the real world and how these experiences help build a strong professional network.

Problem-solving financing: What are my options?

BY ACCOUNTING PRACTICE SALES

You’ve decided to purchase an accounting practice. Maybe you’re looking for an acquisition to your existing firm, or perhaps you are an individual looking to purchase an already established practice.

Purchasing a practice can seem daunting, but Accounting Practice Sales is here to guide you through the process. Our expertise and experience is a free service at the buyer’s disposal.

As you start this journey, it is important to recognize the way that purchasing a practice does not happen. The buyer does not have to take the full purchase price out of savings and write a check to the seller. There are many options for financing the perfect addition to your career. Below is an overview.

Down payment:

The first step in successfully purchasing a firm comes from the buyer, who comes into the equation with a substantial down payment. The amount varies, but owners often

consider 20% to 50% to be adequate. Remember that the down payment is not the only cash that the buyer will be investing into the business. The buyer will also need working capital to get the new business going and pay bills until the receivables get up to a normal level and start to turn. In contrast, sellers should not be shocked with the reality of a buyer managing only 20% down.

The down payment accomplishes two important goals. First, it shifts a significant amount of the risk to the buyer. Second, it gets the buyer committed to the purchase. Buyers will go to great lengths to avoid losing this very substantial investment.

SBA financing:

While many buyers do not have enough cash to pay sellers entirely in cash at closing, it is possible in many cases for sellers to get substantially all cash for their practices.

The primary source of this cash is financing from the Small Business Administration. Normally, conventional financing is

difficult due to banks’ insistence on collateral lending. The SBA, on the other hand, is willing to loan money based primarily on the historical cash flow of the business, the buyer’s credit history, and the buyer’s experience.

In addition to the increased ease of an SBA loan, interest rates on such a loan are reasonable (while variable), and a 10-year term allows for low payments. An SBA loan is an effective and more realistic way for a buyer to purchase a practice, but it should be noted for transparency that a slight downside of SBA financing is the bureaucratic process of application and approval, the upfront fees, and the fact that it can be harder to qualify for such a loan.

Seller financing:

This is a common request from buyers. From our years of experience, half or more of practices do not have enough cash flow to be opposed to this option. It is imperative that sellers do not blame buyers for this. If your practice is bigger than minimal size and your net cash flow is somewhere near 50% of gross revenues, it will probably qualify. If historical cash flow is significantly less than 50% of cash flow, the profitability of your practice is not ideal and your practice may not qualify for SBA financing — which, in turn, would rule out good buyers who are interested in your firm.

Seller financing might be the only practical way to sell a practice, but it also carries a couple of benefits. A seller financed transaction avoids the time-consuming SBA process and allows deals to get done that otherwise might be impossible.

Whether you want to sell your firm or are looking to purchase a practice, it is imperative to keep an open mind on your options for financing. Many deals do not have just one option. A combination of methods exist that are as diverse as the firms we service across the country.

APS Holmes Group can guide buyers through this process by helping them arrange financing that works for both you and the seller. With our years of experience and many connections, we can make this journey as effortless as possible. In fact, many of our established buyers are so happy with their experience, they have ended up using our services to sell their firm when they retire.

macpa.org/store

Reclaim your time: 3 solutions for reducing admin work

BY HANNAH DEFREITAS

Do you often find yourself buried under a pile of administrative tasks, taking valuable time away from client work? You’re not alone. According to the 2023 Accounting Practice Management Survey, accountants spend just 55% of their time working with clients—with the rest dedicated to administrative matters.

CPACharge can help you automate and streamline these routine tasks, freeing up your schedule for more substantive, impactful work.

Streamline workflows to save time

Accountants often spend hours manually reconciling accounts and generating reports—tasks that consume valuable time and can increase the risk of errors. Nearly twofifths (39%) of surveyed accountants said they spend over half of their day on manual tasks, yet 30% of respondents don’t have the tools to automate processes. Workflow issues were the biggest challenge reported in 2023, leading to lost revenue, missed deadlines, and poor work-life balance across 55.9% of firms.

Given these challenges, automating administrative processes is crucial for improving productivity and maintaining a healthy work-life balance. This is where CPACharge steps in.

CPACharge seamlessly integrates with leading accounting software, automating the reconciliation process by accurately recording and categorizing transactions, matching payments to invoices, and keeping your accounts up-to-date. Customizable reporting tools make generating detailed financial reports easy—providing real-time insights into your financial data. These reports can be shared with clients or stakeholders, enhancing transparency and professional credibility.

Automate invoice creation and recurring billing

Sending out recurring invoices is one of the most timeconsuming administrative tasks. Automating an accounts payable (AP) process can reduce paperwork by 90-95% and increase efficiency by 20-27%. CPACharge’s invoicing feature allows you to quickly generate invoices with detailed line items, saving precious time every week. This streamlined process enables you to focus more on client interactions and less on administrative paperwork.

Additionally, the Scheduled Payments feature allows you to automate the invoicing process entirely—setting up recurring charges for a specified number of billing cycles or until a certain dollar amount is met. This not only reduces the time spent on invoicing but also ensures that your cash flow remains consistent and predictable.

Secure and fast payment processing

Storing and managing client payment information can be cumbersome and time-consuming, especially when you repeatedly re-enter card details. Plus, data breaches in the accounting sector have grown by 47% in the last two years—with 60% of small accounting firms going out of business within six months of a cyberattack.

CPACharge’s Card Vault feature securely stores your clients’ card information in a PCI-compliant manner, ensuring that sensitive data is protected with the highest security standards. By securely storing card details, CPACharge allows you to quickly process payments without re-entering card information each time, making the payment process both secure and efficient.

By integrating CPACharge’s robust security features into your payment process, you enhance the efficiency of managing client payments and significantly reduce the risk of cyber threats.

Streamline your work with CPACharge

By leveraging these three powerful features of CPACharge, you can significantly reduce the time spent on administrative tasks, saving billable hours every week. This boosts your productivity and allows you to dedicate more time to high-level tasks and client engagements—ultimately enhancing your firm’s overall efficiency and service quality. Ready to streamline your invoicing process and enhance your firm’s efficiency? Learn more about CPACharge today!

Hannah DeFreitas is a senior content writer at CPACharge, the leading payment processor for the accounting industry. She is based in Austin, Texas.

CPACharge has made it easy and inexpensive to accept payments via credit card. I’m getting paid faster, and clients are able to pay their bills with no hassles

Trusted by accounting industry professionals nationwide, CPACharge is a simple, web-based solution that allows you to securely accept client credit and eCheck payments from anywhere. – Cantor Forensic Accounting, PLLC

22% increase in cash flow with online payments

65% of consumers prefer to pay electronically

62% of bills sent online are paid in 24 hours

Welcome, Ramp — the MACPA’s newest Preferred Provider

The Maryland Association of CPAs is proud to welcome Ramp as the newest member of our Preferred Provider Program . Preferred Providers play a vital role in equipping MACPA members with tools, resources, and services that drive success in today’s dynamic professional landscape. These partnerships are carefully curated to offer innovative solutions that enhance the value our members deliver to their clients and organizations.

About Ramp

Ramp is a comprehensive financial operations platform designed to save businesses both time and money. By streamlining payments, issuing cards, managing vendors and procurement workflows, booking travel, and automating bookkeeping—all on one intuitive platform—Ramp empowers

businesses to operate more efficiently. Its automation features accelerate month-end close by up to 8x and can help businesses recapture as much as 5% to their bottom line, enabling CPAs and finance professionals to provide even greater value through enhanced advisory services.

To date, Ramp has saved over $1 billion and 15 million hours for more than 25,000 companies. Over 1,000 accounting firms already partner with Ramp to strengthen client relationships and support financial operations.

For more information about how Ramp can support your practice and your clients, visit ramp.com/marylandcpa

MACPA is excited to partner with Ramp to continue delivering innovative solutions to our members. Stay tuned for more resources and opportunities to leverage this new partnership!

MiamiBeach.cpa showcases Acosta Tax & Advisory’s geo-focus lead strategy

BY JULIO ACOSTA

Lead generation starts at the domain level. “Today, prospective clients are looking for firms online,” says Julio Acosta, founder of Miami-based Acosta Tax & Advisory.

“And when they search, many of them search by geography –they’ll add a city name to the search. So when we saw that .cpa domains were finally available, we moved quickly.”

Lead generation is only one of the benefits Acosta saw in the .cpa domain. He knew that with a .cpa domain, his small, 14-person firm could instantly convey its credibility, professionalism, security focus, and innovative digital orientation. The firm promptly moved to secure several location-driven names, starting with MiamiBeach.cpa. Within a month of being awarded the domain names, many were up and running for all clients and prospects to see.

The benefits were immediate. “We notified clients through our newsletter and direct emails about the change, which gave us an opportunity to emphasize our focus on security and digital innovation,” says Acosta. “They feel safer. They see that we’re growing and innovating. And they associate our new domain with our commitment to staying at the cutting edge of technology.”

For Julio, the security benefits of the .cpa domain were especially important given the experience of a friend’s CPA firm. “He was hacked – ransomware was placed on his servers,” says Acosta. “Suddenly his clients were getting emails from entities that seemed legitimate, but were actually looking to do harm. Our .cpa domain helps us avoid that.”

For other firms considering making the move to a .cpa domain, Acosta has clear advice: “If you’re looking for growth, and if you want to convey to clients that they can do business with you electronically in a secure environment, you should definitely get the domain,” he says.

Want to see one of Acosta’s location-centric domains at work? Just visit www.miamibeach.cpa. To apply for your firm’s preferred domain address now, get started at domains.cpa.

Julio Acosta is a partner with Acosta Tax & Advisory.

Elevate your firm’s brand, credibility, and web security with the only web domain exclusively for CPAs.

Check availability at domains.cpa.

How to evaluate technology needs vs. wants

BY ERIN SHIVELY

Technology drives efficiency, employee experience and client service in your firm. But many firms struggle to strike a balance between investing in the right tools and falling into the trap of overspending on unnecessary technology. With the rapid evolution of technology solutions and the increasing reliance on subscription-based cloud-based platforms, firms must distinguish between essential technology investments and nice-to-haves.

Here’s how to evaluate technology needs versus wants in your firm, using strategies to assess the value and potential risks of your existing and future tech stack.

Understanding needs vs. wants: Defining the line

When evaluating technology, it’s essential to focus on the core functionalities required to meet your firm’s strategic goals. Every new tool, app or platform should improve operational efficiency, enhance client service or secure your data. Too often, firms are lured in by promises of cuttingedge solutions that are underused or misaligned with their actual needs.

For example, a common scenario is investing in comprehensive software suites like Adobe Creative Cloud

when all your team needs is a simple PDF editor. By narrowing your focus to what truly adds value, you can avoid paying for expensive software suites that offer far more than required.

The problem with shadow IT

Shadow IT refers to software, apps or websites employees use without the IT department’s knowledge or approval. While these tools may solve short-term needs for individual employees or teams, they introduce significant risks, including security vulnerabilities, data breaches and inefficiencies in IT governance.

A crucial question is: How much shadow IT exists in your firm? Often, the firm introduces niche software for one client or project without thoroughly evaluating whether it could benefit the entire firm. For example, your marketing team might use a tool without IT’s knowledge, creating budget inefficiencies and potential security risks. By regularly auditing your technology usage and encouraging transparency, you can identify these hidden costs and assess whether firm-wide solutions already exist.

Broadening the benefit: Evaluating for firmwide usage

It’s not uncommon for firms to use multiple tools that provide overlapping functionalities. When evaluating a piece of technology, consider whether you can scale it to benefit multiple teams or clients. Rather than adopting a new tool for a single purpose, explore your existing tech stack to determine if the desired functionality already exists.

For example, it’s common for firms to reach only 80-90% implementation of their existing software. Could that last 10-20% include features that provide the solutions employees seek elsewhere? You may avoid introducing unnecessary software and the associated costs by thoroughly exploring your current tools.

Tackling software bloat

Software bloat — having too many apps or programs, each performing a limited function for only a few users — can be a major drain on resources. Firms that suffer from software bloat often find that a significant portion of their technology budget goes towards maintaining tools that add minimal value or are used infrequently.

To combat software bloat, review your technology budget to identify niche software that may be redundant. A firmwide technology audit, conducted regularly, can help pinpoint these inefficiencies. At Boomer Consulting, we send out surveys every six months to understand what people are using, what they’re struggling with and what they no longer need. These surveys uncover new tools and apps people use, leading to more informed decisions about our tech stack.

Uncovering hidden technology costs

Your technology budget likely doesn’t account for everything being used within your firm — especially when it comes to free tools or web-based platforms. Many employees download or access free but unapproved tools that introduce vulnerabilities. Even worse, these tools may come from disreputable sources, increasing the risk of malware or compatibility issues.

One way to uncover these hidden costs is to scan devices to see what software people have installed. While this will reveal desktop applications, it won’t account for web-based products. A comprehensive audit, including surveys and regular discussions with team members, can help identify these risks.

Ensuring vendor reputability

When evaluating new tools or platforms, make sure they come from reputable vendors. Downloading software from unreliable sources can lead to data breaches, malware, and other security issues. For example, employees may consider CNET to be a reputable site, but users have reported downloading items from CNET that were infected with viruses.

This concern is even more critical in firms that have a bringyour-own-device (BYOD) policy. Employees’ personal devices, used for work purposes, may harbor apps or software that compromise firm data security. Security training can help mitigate these risks.

Practical steps for technology audits

Here are a few tips to help you uncover shadow IT and optimize your technology stack.

1. Conduct regular technology surveys. Survey your employees every six months to a year to learn what tools they’re using, what they like and what they don’t. This helps identify underused tools and potential redundancies.

2. Audit your technology budget. Review your budget for unnecessary software and services. Look at departmental budgets beyond IT—marketing and operations teams often have niche tools that may not be fully leveraged.

3. Scan devices for installed software. Perform regular scans of firm-owned devices to understand what people use. While this won’t capture web-based products, it can help identify unauthorized software.

4. Evaluate for firm-wide applicability. Before purchasing new software, consider whether you can scale it to benefit multiple teams or clients. If not, is there an existing solution in your tech stack that offers similar functionality?

5. Prioritize security. Ensure any new software or apps come from reputable sources, and reinforce security training for employees, particularly those using personal devices for work.

The key to smart technology investment is aligning your tech needs with your firm’s strategic goals. Firms can optimize their tech stack and avoid unnecessary expenses by conducting regular technology audits, addressing shadow IT and evaluating tools for broader firm-wide usage. Technology should enhance, not hinder, the firm’s efficiency—ensuring that every tool serves a clear purpose is essential for longterm success.

Erin Shively is the IT coordinator at Boomer Consulting, Inc.

Artificial intelligence ROI exceeds expectations for many

BY STEPH BROWN

More than half of organizations identified as leaders are seeing a strong return on investment from artificial intelligence adoption

More than 40% of organizations are using artificial intelligence (AI) to a moderate or large degree in their financial operations – and that number is projected to double over the next three years.

Additionally, and not surprisingly, companies identified as leaders in the use of AI are far more likely to see a strong return on investment, according to data from KPMG.

“Companies are turning to AI in every area of finance,” the KPMG Global AI in Finance Report said.

Fifty-seven per cent of leaders in the space said that their ROI is exceeding expectations. Even those just getting started are seeing gains, with nearly 30% saying the ROI on AI is beating expectations.

Leaders identified by KPMG report an average of seven benefits post-AI implementation, compared with two or three benefits for novices, according to the report.

The main AI usage benefit that leaders cited was AI’s ability to “bring data to life” and improve decision-making through accuracy checking, generating deeper data insights, and predictive analysis.

KPMG surveyed 1,800 companies headquartered in ten major markets across North America, Europe, and Asia-Pacific in April. It followed up with more questions in September to create an “AI maturity framework”, given the pace of AI development and the speed of its adoption.

“Currently, nearly two-thirds of companies are piloting or using AI for accounting and financial planning,” the report

said. “Other areas of finance are following suit: nearly half of companies are now piloting or using AI for treasury and risk management.”

Organizations identified as leaders in this area are spending 12.5% of their IT budget on AI-related activities, compared with 7.4% of budget spending by other organizations. And, leaders expect that percentage of IT budget money to grow to 16.5% in three years for AI-related projects.

“Becoming a leader in AI requires the proper financial and human resources. That is why AI leaders invest nearly twice as much as others in enterprise-wide AI activities as a proportion of IT budgets,” the report said. “As others play catch up, the gap between them and leaders will narrow.”

Getting familiar with AI is imperative to staying competitive, but as organizations become more aware and affected by data security risks, the more hesitant they are to pursue integration plans across systems. Data security vulnerabilities (57%) and limited AI skills and knowledge (53%) are the biggest barriers to AI adoption, the report said.

Additionally, concerns about generative AI are greater than those around traditional AI given the potential to draw on sensitive and proprietary data, the report said.

“Companies should follow the example of AI leaders in our study by implementing a wide range of use cases,” the report recommended. “These should include not just basic use cases around data entry and administrative processes, but also higher-order tasks around research, risk management, cybersecurity, fraud detection, and predictive analysis.”

Contact Steph Brown at Stephanie.Brown@aicpa-cima.com ... ... to comment on this article or to suggest an idea for another article.

…your opportunity to help save a life by making a taxdeductible donation to the Maryland Cancer Fund , which provides cancer prevention, screening, and treatment for low-income Maryland residents. This tax year, please donate on Line 37.

https://phpa.health.maryland.gov/cancer/Pages/mcf_home.aspx

Maryland Department of Health 201 W. Preston St., Baltimore, MD 21201 Phone: 410-767-6213

Wes Moore, Governor | Aruna Miller, Lieutenant Governor | Laura Herrera Scott, Secretary

When we started the Boomer Marketing & Business Development Circle in 2019, our discussions centered around tactics like branding, paid advertising, SEO, content, and email marketing.

Today, the conversation is much different. Our members are Marketing & Growth leaders who are helping shape firm strategy, client experience and sustainable growth.

What’s behind this shift, and how is it shaping the future of the profession? Let’s dive in.

The shift in focus from tactics to strategy

Growth leaders now play a crucial role in driving overall firm strategy. They contribute to areas as diverse as influencing client experience, pricing and packaging services, client retention, mergers and acquisitions and strategic accountability at both staff and partner levels.

As their reach has expanded, their input and decisions have become instrumental in defining the future of their firms.

They’re at the forefront of evolving business models prioritizing higher-value services and improved profitability, stemming from the profession’s goal of staying competitive and meeting clients’ changing needs. Growth leaders aren’t just helping their firms generate new business; they help nurture long-term relationships, understand market trends and position their firms as industry leaders.

This shift represents a change in how firms approach growth. These leaders aren’t siloed into marketing departments—they’re central to the overall strategic vision of their firms. They contribute to strategic planning processes and play a vital role in aligning firm initiatives with

The rise of growth leaders: Shaping the future of accounting firms

BY JON HUBBARD

long-term goals to create sustainable growth.

The mindset of a growth leader

Mindset sets successful growth leaders apart. They possess a growth-oriented approach that prioritizes long-term vision and adaptability. These leaders are innovators who anticipate market changes and pivot strategies to capitalize on emerging opportunities.

A growth leader’s mindset is strategic, resilient and focused on fostering collaboration across all levels of the firm. They understand that genuine growth comes from creating value—not just for the firm but also for clients.

Cultivating this mindset requires encouraging forwardthinking, rewarding innovation and fostering an openness to change. Firms that invest time and effort into developing this mindset across their leadership team are better equipped to handle the complexities of today’s market.

Essential skillsets for driving growth

In addition to the right mindset, growth leaders need a diverse skill set. They must make data-driven decision, using analytics to guide strategy and measure success. They must be able to interpret client feedback and other data and tailor their approaches to stay ahead of market trends.

Client relationship management is another essential skill for growth leaders. Building trust, understanding client needs and delivering value help firms maintain the long-term client relationships that fuel growth.

Leveraging the right toolset

Growth leaders rely on a comprehensive toolset to maximize impact, including customer relationship management (CRM) systems, marketing automation tools, data analytics platforms and AI-driven solutions. These tools help the firm streamline processes, enhance client engagement and drive business development.

Adopting the right technologies makes marketing and business development efforts more efficient and helps firms differentiate themselves in a competitive marketplace. Growth leaders who leverage these tools effectively are better equipped to guide their firms through today’s challenges and opportunities.

How to cultivate growth leaders

For firms looking to empower and cultivate growth leaders, here are some actionable steps to consider in the year ahead:

1. Invest in leadership development programs. Encourage marketing and business development professionals to attend leadership development courses and industry conferences to build their professional networks and sharpen their strategic thinking and innovation capabilities.

2. Promote a culture of collaboration. Create opportunities for cross-functional teamwork. This helps marketing and

business development professionals align with partners, staff and other departments.

3. Leverage technology. Invest in tools that support data analysis, client experience and strategic business development.

4. Encourage ongoing learning. The accounting profession is evolving. Encourage growth leaders to stay informed about the latest trends, best practices and opportunities.

5. Align growth with firm strategy. Integrate marketing and business development professionals into strategic decisionmaking processes to ensure their impact is felt firm-wide.

Remember, growth leaders aren’t just focused on marketing tactics; they drive comprehensive strategies that shape your firm’s long-term success. By cultivating the right mindset, skillsets and toolsets, your firm can empower growth leaders to lead your organization into the future.

Jon Hubbard is a shareholder and consultant at Boomer Consulting.

Barbara Zorn first woman to serve as MACPA executive director, dies at 86

BY MARTHA WAGGONER

Barbara A. Zorn, a trailblazing association executive who in 1990 became the first woman to serve as executive director of the Maryland Association of CPAs, died on Sunday, Jan. 5 at the age of 86.

Born Feb. 22, 1938 in Baltimore County and raised in Baltimore, Zorn joined the MACPA staff in 1975 as secretary and bookkeeper. Her responsibilities grew with the MACPA’s membership, and in 1988 she was named the association’s director of member services and administration. Two years later, she succeeded Thomas Woods as MACPA executive director.

“Perhaps I was looking at the world through rose-tinted glasses, but my concerns when I became executive director didn’t include how I would fare in a maledominated field,” she said on becoming the first woman to lead the MACPA. “I had always had positive experiences at the committee and leadership levels of MACPA and continued to build those trust relationships with all members, male and female, as we attempted to improve the MACPA’s value to members.”

As executive director, Zorn guided the MACPA through a number of important initiatives, including its first strategic

plan, a campaign to boost the CPA brand and image, and the creation of a model CPE program that led to her appointment on the AICPA’s CPE Board of Management. She also helped shape the MACPA into a leader in legislative advocacy and helped craft numerous pieces of legislative policy in Annapolis.

“I have been fortunate to know three of my predecessors, including the remarkable Barbara Zorn,” said MACPA President and CEO Rebekah Olson, CPA. “Barbara embodied a unique combination of generosity and executive presence that left a lasting impression on everyone she interacted with. Her leadership paved the way for me and countless others, and for that, I am forever grateful to have known and loved her.”

“For 45 years, Barbara was always my boss and always my friend,” added Jackie Brown, who joined the MACPA staff in 1980 and served as the association’s CEO from 2021 until her retirement in June 2022. “She taught me many things, but the most important was how those two things can co-exist, and that made my work and my life better.”

Barbara embodied a unique combination of generosity and executive presence that left a lasting impression on everyone she interacted with. Her leadership paved the way for me and countless others, and for that, I am forever grateful to have known and loved her.

Former MACPA President and CEO Tom Hood was a member of the MACPA Board of Directors that voted in 1990 to appoint Zorn as executive director, a decision that he said “would profoundly shape the future of the MACPA and our profession.” Ultimately, he said Zorn’s leadership elevated the MACPA to national prominence as one of the top CPA societies in the nation.

“Under her guidance, the MACPA became a leader in legislative advocacy, cutting-edge professional education, and fostering a vibrant, engaged membership,” Hood said. “Her vision and dedication laid the foundation for the profession’s growth and resilience, setting a standard that continues to inspire.

“During my time as an officer from 1990 to 1995, I had the honor of working closely with Barbara, particularly on the association’s strategic planning initiatives,” he added. “Those intense annual planning sessions were not just about building the future of the profession — they were moments where I came to deeply admire Barbara’s professionalism, wisdom, and commitment. Barbara’s work left an indelible mark on me, the association, and the entire CPA community. She was

a true pioneer whose impact endures, and we all stand on the strong foundation she built.”

After retiring from the MACPA in 1997, Zorn spent considerable time in leadership roles at the Lutheran Church of the Good Shepherd in Bel Air, where she served as chair of the Church Council and its Finance Committee.

She is survived by her daughters, Donna Singer, CPA, and Suzanne Cathell; six grandchildren; and eight greatgrandchildren. She was preceded in death by her husband, Richard Anders Zorn, in 2007.

In lieu of flowers, donations may be made to:

Oak Crest Resident Care Fund

Oak Crest Philanthropy 8820 Walther Blvd. Parkville, MD 21234

Meet the MACPA Team

We are excited to introduce you to members of the dedicated MACPA Team – the incredible individuals working tirelessly behind the scenes.

They’re all passionate about ensuring your membership experience is not only positive, but also rewarding and delivers exceptional value. Through this series, you’ll gain valuable insights into the team, their roles, and how their hard work directly benefits you as a member. Dive in and get to know the amazing people who make the MACPA so special!

MARY BETH HALPERN Director, Technical Services and Regulatory Affairs

What are your primary responsibilities at the MACPA?

My primary role revolves around collaborating with our dedicated volunteer members whether through committees, in Annapolis, or at events, to advocate for the CPA profession and its impact in Maryland.

Can you share a memorable experience or a favorite moment you’ve had while working at MACPA?

I’ve had the great fortune to meet many fascinating and truly inspiring members, thought leaders, lawmakers and colleagues who constantly challenge me to see things from new perspectives. It’s one of the greatest benefits of working here.

What is the most rewarding part of working with MACPA members?

The most rewarding part is seeing just how passionate and committed our members are to their profession and the impact they want to make. It’s inspiring to be surrounded by people who genuinely care about integrity, ethics, and making a real difference.

What do you like to do in your free time?

“Compete” might be a stretch, but I have a blast playing in a bocce league with my friends. When I’m not on the bocce court, you’ll find me exploring Baltimore and other cities and towns with my husband.

Need to get in touch with the MACPA team?

Our Member Service Center will direct your inquiry to the right department for a fast response.

We’re renewing our commitment to the future of the CPA profession. For a str onger CPA pr ofession

The MACPA Foundation works to build a talent pipeline and ensure the strength of the CPA profession for years to come.

Your donations support:

Pipeline

Providing training for young talent and educators

Mentorship

Connecting experienced CPAs with young professionals

Diversity

Advancing diversity and inclusion initiatives

Scholarships

Granting scholarships to accounting students

Thank You to Our 100% Membership Firms

100% Membership Firms are those which ensure their staff has the latest and best access to professional community and continuing education.

While paying your staff’s membership dues is a nice employee perk, being a 100% Membership Organization shows your commitment to the CPA profession and your staff’s continuing success. Plus 100% Membership Organizations are afforded exclusive benefits from MACPA.

Albright Crumbacker Moul & Itell

Askey, Askey and Associates, CPA, LLC

Balsamo, Stewart, Lutters & Ruth, PA

BDO

Benedict & Slack CPA’s

Berger, Nyborg & Cannon, P.A.

Berlin, Ramos & Company, P.A.

Berman, Goldman & Ribakow, LLP

Betz, Goldman, Clearfield, Kramer, & Ocampo, LLP

Bormel, Grice & Huyett, PA

Bridgett Mock & Associates

BSC Group

Butler, Lavanceau & Sober, LLC

CG Accounting Group, LLC

Chambers & Nier, PC.

CliftonLarsonAllen LLP - Baltimore

Cohen & Company - Baltimore

CohnReznick - Baltimore

CohnReznick - Bethesda

Crumback & Associates, LLC

Dembo-Jones

DeLeon & Stang, CPAs

Dixon Hughes Goodman, LLP

Dorman CPAs & Business Consultants

Ellin & Tucker, Chartered

Faw, Casson & Co., LLP

French Shepley & Strong, LLC

Garbelman Winslow CPAs

Gary R. Bozel & Assoc., P.A.

Glass, Jacobson & Associates, P.A.

Gorfine, Schiller & Gardyn P.A.

Grandizio, Wilkins, Little & Matthews

GRF CPAs & Advisors

Gross, Mendelsohn & Assoc., PA

HeimLantz CPAs & Advisors

Hitt & Company, LLC

Huber, Michaels & Company

KatzAbosch

KBST&M

Kensington Business Solutions, LLC

Kest, Forte & Rottenberg, P.A.

Key & Associates

King, King & Associates, PA

Klausner Bendler + Associates, PC

KPMG - Maryland

Kullman CPA, LLC

Lanigan, Ryan, Malcolm & Doyle, P.C.

Lebson & Associates, PA, CPA’s

Leonard J. Miller & Assoc., Chtd.

Lindsey & Associates, LLC

Linton Shafer Warfield & Garrett P.A

Lombardo Ayers & Company, LLC

MKS&H CPAS and Business Consultants

Mister, Burton and Associates, LLC

Mullen, Sondberg, Wimbish & Stone, P.A.

Murray, Wamsley & Schrader, LLC

Myers & Stauffer, LC

Novotny, Larash & Grainger, P.A.

Penan & Scott, P.C.

Polan and Hollis, LLC

PricewaterhouseCoopers, LLP

Radcliffe Corporate Services, Inc.

RLH CPA’s & Business Advisors LLC

RS&F LLC

SC&H Group - Sparks

Selby & Poulin, PA

Smith Elliott Kearns & Company, LLC

Sturgill & Associates, LLP

Squire Lemkin + Co, LLP

The Rodeheaver Group P.C.

TMDG, LLC

Tonneson + co - Columbia

Turnbull, Hoover & Kahl, PA

TRS CPA Group PA

UHY LLP - Columbia

Varanko & Black CPA’s

Weil, Akman, Baylin & Coleman, P.A.

Weyrich, Cronin & Sorra, Chtd.

YHB CPAs & Consultants

Thank you to our Maryland CPA firms that support our profession with 100% membership.

Want your firm to be on this list?

Contact the MACPA Member Service Center at 800-782-2036.

Together, we connect, protect, and achieve as a profession.

Maryland Practices For Sale

Gross Revenues Shown: Pasadena Tax & Bookkeeping grossing $305K; Towson/Baltimore Cnty CPA grossing $230K; Essex CPA grossing $715K.

For additional information or to see nationwide listings and register for free email updates visit us at www.APS.net.

Thinking of Selling Your Practice?

Accounting Practice Sales is the leading marketer of tax and accounting practices in North America. We have a large pool of buyers, both individuals and firms, looking for practices to purchase. We also have the experience to help you find the right fit for your firm, negotiate the best price and terms, and get the deal done.

For more information about our risk-free and confidential services please call Bradley Holmes with the APS Holmes Group at 1-800-397-0249 or email Bradley@apsholmesgroup.com.

CPA Firm For Sale in Richmond, VA | Listing ID VA2034 | Asking $2.4M

This is a well-established firm with more than 5 CPAs on staff who have over ten years of experience. The firm’s exceptional staff delivers high-quality service in business tax (avg. fee: $5,191) and personal tax (avg. fee: $1,163), which make up 74% of revenues. Consistent growth with additional services including estate planning, bookkeeping, and compilations.

This practice is perfect for buyers seeking a thriving, well-rounded practice with strong client loyalty and staff expertise. Inquire at https://poegroupadvisors.com/practice/va2034/

How to Submit A Classified Ad

To submit a classified ad, visit macpa.org/classified

Click here for pricing information.

Find opportunities in our professional community. Click here to search for talent, office space, mergers and acquisitions, and more.

MEMBER & FIRM NOTES

MEMBER NOTES

SEK, CPAs & Advisors has won two categories in Hagerstown-based Herald Mail Media’s Tri-State Best Community’s Choice Awards for 2024. SEK was voted “Best Accounting Firm.”

Kelli Cobb, CPA, MBA, a member of the firm, was voted “Best Accountant.”

Radostina Ganeva has joined Brown Plus Accountants and Advisors as a tax associate in the firm’s Frederick, Md., office. She graduated with a bachelor’s degree and a master’s degree from Dimitar A. Tsenov Academy of Economics in Bulgaria.

FIRM NOTES

Brown Plus, a leading accounting and advisory firm with locations in Frederick and Westminster, has been ranked the second best firm for young accountants in 2024 by Accounting Today.

FUTUREPROOF

with Bill Sheridan

These on-demand episodes hosted by Bill Sheridan provide dynamic perspectives on the latest trends in the accounting profession.

Join us for insightful discussions with industry thought leaders on advocacy, culture, technology, and more. Complimentary for members!

Listen anywhere you go, click here for links to all streaming platforms macpa.org/podcast