MACPA Statement // October 2014

STATEMENT October 2014 | Maryland Association of Certified Public Accountants, Inc.

THE WYNNE CASE: WHAT THE SUPREME COURT’S RULING MAY MEAN FOR MARYLAND – AND THE FUTURE OF INTERSTATE COMMERCE page

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ALSO INSIDE CROSS-COUNTRY CPA: ‘ONE ACT OF KINDNESS IS PHENOMENAL’: Frank Ryan finishes his walk across America | Page 14 Methods of doing business abroad: Tax issues U.S. multinationals need to know | Page 40

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CONTENTS October 2014 | Maryland Association of Certified Public Accountants, Inc.

CHAIR’S COLUMN . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 FEATURES The Wynne case: What the Supreme Court’s ruling may mean for Maryland . . . . . . . . . 7 Cross-country CPA: ‘One act of kindness is phenomenal’. . . ’. . . . . . . . . . .. . . . . . . . . . .14 Methods of doing business abroad: Tax issues U.S. multinationals need to know . . . . . 40

DEPARTMENTS News & Views . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20 Business & Industry . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25 Financial Planning . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . 30 High Tech Solutions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 32 Practice Management . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 36 Professional Development . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .38 Tax Corner . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. 40 Member Services. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . .47 NYPN. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . .48

MEMBER NOTES . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 44 CLASSIFIEDS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 50 UPCOMING EVENTS & COURSES. . . . . . . . . . . . . . . . . . . . . . . . . . . .52 ADMINISTRATION Becky Conley becky@macpa.org Ashlee Stem ashlee@macpa.org Amy Stumme amy@macpa.org COMMUNICATIONS Amy Moran amym@macpa.org Bill Sheridan bill@macpa.org FINANCE

PRODUCT DEVELOPMENT

Laura Dorsey-Shaner laura@macpa.org

Akesha Brown akesha@macpa.org

Terri Smith terri@macpa.org

Debbie Zizwarek debbie@macpa.org

Dee Sullivan dee@macpa.org

TECHNICAL SERVICES

Emily Trott emily@macpa.org

Cora Edwards cora@macpa.org MaryBeth Halpern marybeth@macpa.org PROFESSIONAL DEVELOPMENT

Ryan Wey ryan@macpa.org

MEMBER SERVICES

Megan Gratz megan@macpa.org

Lisa Cines, CPA Secretary/Treasurer

Lauren Baker lauren@macpa.org

Andrew Hood andrew@macpa.org

Rebekah Brown rebekah@macpa.org

Donna Lewis donna@macpa.org

Byron Patrick, CPA.CITP, MCSE Immediate Past Chair

OCTOBER 2014

Paige Sawicki paige@macpa.org

Sean Roddy, CPA, CMA, CGMA, MBA Richard L. Wolf, CPA, CFE, CGMA

SENIOR STAFF

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

Michael Manspeaker, CPA Vice Chair

Jeannie Richardson jeannie@macpa.org

Gene Ransom III, Esq.

OFFICERS

Chris Dougherty chrisd@macpa.org

DIRECTORS Michael Drankiewicz, CPA

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

Amy Myers, CPA

MACPA EXECUTIVE DIRECTOR

Marianela del Pino-Rivera, CPA Chair

Laura Swann, CPA lauras@macpa.org

Carl Kampel, CPA

2014-2015 BOARD OF DIRECTORS

Pamela C. Devine pam@macpa.org

Margaret DeRoose margaret@macpa.org

Virginia Jackson, CPA

Bill Sheridan MACPA Dulaney Center II 901 Dulaney Valley Road Suite 800 Towson, MD 21204 For content submission: bill@macpa.org feedback@macpa.org P: 410.296.6250 F: 410.296.8713 Toll free: 800.782.2036

MACPA DEPUTY EXECUTIVE DIRECTOR Jacqueline E. G. Brown jackie@macpa.org DIRECTOR OF FINANCE AND ADMINISTRATION Skip Falatko, CPA skip@macpa.org

The MACPA reserves the right to edit all submissions for grammatical style and / or length.

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. The Statement is published four times a year by the Maryland Association of Certified Public Accountants, Inc. Bill Sheridan, Editor Amy Moran, Advertising Sales

Laura Freitag, CPA

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CHAIR’S COLUMN FINANCIAL EDUCATION IS MORE IMPORTANT THAN EVER. CPAS SHOULD BE THE TEACHERS

BY MARIANELA DEL PINO-RIVERA, CPA, CHAIR

IT’S NO SECRET THAT AMERICANS ARE BEHIND ON THEIR RETIREMENT SAVINGS. WHAT’S SHOCKING, THOUGH, IS LEARNING EXACTLY HOW FAR BEHIND THEY ARE. The Federal Reserve Board has found that 31 percent of working Americans have saved nothing — nothing — for retirement. Even more frightening, nearly one in five Americans between the ages of 55 and 64 have nothing saved for retirement.

“Additionally, almost half of adults were not actively thinking about financial planning for retirement,” the Fed report stated, “with 24 percent saying they had given only a little thought to financial planning for their retirement and another 25 percent saying they had done no planning at all.”

Those numbers are mind-numbing. They get worse when you factor in studies like these: •

•

A survey by consulting firm Aon Hewitt found that none of the age groups surveyed managed to save an average of 15 percent of their pay per year. That’s the amount that most financial experts say you should save if you want to maintain your pre-retirement lifestyle after you stop working.

According to the Center for American Progress, the average millennial has saved exactly $0 for retirement.

“While retirement may be in the distant future for the generation of American workers born since 1982,” the report states, “saving early is important because that money has the most time to realize the benefits of compounding interest.”

This is distressing stuff. Two of the biggest generations in history are failing

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to save enough money for retirement.

What will that mean for our nation’s economy?

Nothing good. That much is certain.

CPAs are playing a huge role in trying to reverse those trends, though.

For years now, the profession has been a part of a financial literacy campaign aimed at getting people to spend less and save more. The campaign includes two key initiatives: •

•

an effort to provide CPAs with outof-the-box resources and information that they can use to speak with children, older students, and adults alike about the importance of watching your pennies; and Feed The Pig, a public-service campaign designed to raise awareness of the dangers of financial carelessness and the importance of diligent personal finance. You’ll find the entertaining and thoughtprovoking PSAs at FeedThePig.org.

According to the AICPA, the financial literacy campaign “sends the message that financial education should be a lifelong endeavor — from encouraging children to save their allowance to helping adults plan for a secure retirement.”

That message is spreading. Six years after it was launched, the campaign has spawned more than 250 grassroots educational programs nationwide, and has also received more than 750 million media impressions each year and has won more than 60 national awards.

As the statistics prove, however, there is still much more work to do.

Part of that work may involve challenging our own assumptions about why people don’t save. Too often, I think we assume it’s because they’re too lazy, greedy, or

uneducated to make the right financial choices. In fact, many people know what they have to do and why it’s important but don’t have access to the resources they need to do it. Some folks can’t get a savings account. Others can’t afford a financial planner or CPA. The problem for them isn’t financial illiteracy; it’s lack of access to the right tools. Perhaps it’s time for a new branch of the financial literacy campaign to address those issues. Maybe we need the gamification of personal finance so that we can “experience” the results of our financial decisions and learn via video games, or make managing finances and saving fun via gaming applications.

Regardless, the profession’s financial education campaign must continue — must expand, in fact.

When nearly 20 percent of Americans nearing retirement age haven’t saved a penny for their golden years, the future looks grim for a large chunk of one of the largest generations in history. And that future is almost here. For many of them, it might already be too late.

For an even larger generation of workers, though, work has just begun. If they start saving now, their financial future will be secure. These are our children, the young professionals at our firms, and our clients.

Let’s begin by counseling them to create a budget, contribute to retirement plans that offer matching, and consolidate/refinance their student debt.

CPAs can help them. We must also help those that do not have access to our expertise, and MACPA has all of the tools you need For details on how you can get involved, contact the MACPA at (800) 782-2036.

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THE WYNNE CASE:

What the Supreme Court’s ruling may mean for Maryland - and the future of interstate commerce

BY KAREN T. SYRYLO, CPA

To the surprise of many, the United States Supreme Court has agreed to hear Maryland’s appeal in Maryland Comptroller of the Treasury v. Wynne, 431 Md. 147 (2013) (Supreme Court docket No. 13-485) in its 2014-15 session.

It is surprising because the Supreme Court takes extremely few state tax cases, and also because the issue at stake exists chiefly in or only in Maryland based on current provisions of other states’ tax laws.

Regardless of which way the court rules, the decision will have important results for Maryland taxpayers – and perhaps for individuals across the nation who conduct interstate business.

The case in question centers on a ruling

by Maryland’s Court of Appeals, the state’s highest court, which found that Maryland’s lack of credit against the local tax for taxes paid to other states on income generated in and taxed by those other states violates the Commerce Clause of the U.S. Constitution. The Maryland Court found that the resulting tax is not fairly apportioned and discriminates against interstate commerce. Essentially, the court reasoned that the taxation by Maryland of non-Maryland income was an incentive for Maryland residents to conduct business OCTOBER 2014

only in Maryland and thus impeded multistate commerce.

The Maryland Comptroller’s cert petition asks that the Supreme Court address this question: “Does the United States Constitution prohibit a state from taxing all of the income of its residents – wherever earned – by mandating a credit for taxes paid on income earned in other states?”

I say it this way: Does the Commerce Clause of the U.S. Constitution apply to interstate commerce income of an individual as it does to the income of corporations, thus putting limitations on how a state may tax that income? Or, does the state of the individual’s residence have an overriding power to tax 100 percent of the resident’s income – even interstate commerce income that is also taxed in the source state?

THE TAX AT ISSUE Maryland’s individual income tax rate is composed of two parts: the “state” rate, currently graduated from 4.75 percent to 5.75 percent; and the “local” rate, otherwise known as the “piggyback,” currently ranging from 1.25 percent to 3.2 percent, depending on the

locality. The Maryland Court of Special Appeals has previously agreed with the Comptroller’s prior assertion that “the county tax imposed on residents is a state tax for constitutional purposes” in a case involving the “special non-resident tax” imposed on non-residents (see Frey v.

Comptroller, 184 Md. App 315, 2009).

For residents who earn both Marylandbased and non-Maryland-based income, the Maryland tax is calculated in several steps: 1. The state tax rate is applied to the individual’s total Maryland taxable income based on 100 percent of federal taxable income.

2. The local tax rate for the county of the individual’s residence is applied to the individual’s total Maryland taxable income based on 100 percent of federal taxable income.

3. Credit for taxes paid to other states on the other states’ income is calculated at the lesser of (a) the tax actually paid to the other state, or (b) Maryland’s state (e.g. 4.75 percent) rate on the non-Maryland income.

CONTINUED ON PAGE 9

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4. The net of line 1 plus line 2 minus line 3 equals the total tax owed to Maryland.

Thus, the limitation of the credit to Maryland’s state” rate means that nonMaryland income is left in the calculation against the local rate (line 3). Maryland is taxing, at the local rate, the nonMaryland income on which the individual has been taxed by the other state.

It is important to note that Maryland also imposes tax on non-residents who earn Maryland sourced income – i.e., the portion of the individual’s federal taxable income that is deemed attributable to Maryland.

commerce – the so-called dormant Commerce Clause. The taxpayer’s claims include the following: •

•

1. The state tax rate is applied to the individual’s total Maryland taxable income.

2. The special non-resident tax rate, specifically set by statute to always equal the lowest local tax rate applied to residents, is applied to the individual’s Maryland taxable income.

3. The total of line 1 plus line 2 equals the Maryland tax.

SUMMARY OF THE TAXPAYER’S ARGUMENT First and importantly, the case involves interstate commerce of Brian Wynne earned by him via the multistate business operations of the S corporation in which he was a shareholder. Maryland follows the federal provision that makes the S corporation’s income the shareholders’ income on a pass-through basis. In addition, the income retains the same character in the hands of the shareholders as it has when earned by the S corporation.

•

Although the Comptroller initially made arguments that the income was passive (dividends) and therefore interstate commerce was not at issue, the appellate courts rejected that position and applied the Commerce Clause analysis.

The taxpayer claims that Maryland’s tax provision is unconstitutional under several principles outlined by the U.S. Supreme Court in its cases dealing with the limitations placed by the Commerce Clause on state taxation of interstate OCTOBER 2014

•

The taxation of non-Maryland income at the local tax rate – i.e. without credit against the local tax rate – has the same effect as not fairly apportioning the multistate income.

That a tax must be fairly apportioned is one of the four tests required by the Court in its Complete Auto Transit, Inc. v. Brady decision, 430 U.S. 274 (1977).

Maryland’s tax structure is not “internally consistent.” The Court discussed this aspect of an acceptable tax in its ruling in Container v. California Franchise Tax Board, 463 U.S. 159 (1983). To pass Constitutional muster, a tax must be internally consistent, meaning that if, hypothetically, every state employed the same taxing formula, it would result in no more than all of the business income being taxed – in other words, there can be no builtin risk of multiple taxation. Clearly, under Maryland’s statute there is multiple taxation – the non-Maryland income is taxed both by Maryland on the resident return and by the source state on a non-resident return.

And worse, if every state in the union employed Maryland’s formula, there would always be multiple taxation of the same dollar of income, by both the residence state and by the source state.

Maryland’s tax structure also is not “externally consistent.” This concept involves the question of whether the state’s tax is imposed only on that portion of the income that is fairly attributable to economic activity in the taxing state. See Jefferson Lines, 514 U.S. 175, 115 S. Ct. 1331 (1996).

In that decision, the Court also said the threat of real multiple taxation may indicate a state’s impermissible overreaching. In the Wynne case, there is actual multiple taxation and not just a threat, and so (the taxpayer claims) the Maryland statute also fails this test and is unconstitutional.

Yes, the starting point is the principle that a state can tax all of its residents’ income, but after that starting point

the Commerce Clause principles outlined above place limitations on the states to the extent that the income is interstate commerce income.

SUMMARY OF THE STATE’S ARGUMENT Throughout the several court levels (including its cert petition), Maryland’s Comptroller has contended that a state has the right to tax 100 percent of its residents’ incomes, even interstate commerce income earned outside the state.

The case most cited by the Comptroller is Oklahoma Tax Commission v. Chickasaw Nation, 515 U.S. 450, 115 D. Ct. 2214 (1995). The case involved U.S. law and treaties regarding Native American tribes.

The lower court had held that Oklahoma could not tax the wages of tribal members employed by the tribe even if they resided outside Native American country.

But the U.S. Supreme Court reversed, saying in its decision, “Oklahoma may tax the income of tribal members who work for the tribe but reside in the state outside Indian country. The Court of Appeals’ holding to the contrary conflicts with the well established principle of interstate and international taxation that a jurisdiction may tax all the income of its residents, even income earned outside the taxing jurisdiction (emphasis added).

The exception that the tribe would carve out of the state’s taxing authority gains no support from the rule that Indians and tribes are generally immune from state taxation, as this principle does not operate outside Indian country.”

I note that the Chickasaw decision did not include a discussion of the Commerce Clause.

The state’s briefs in Wynne include references to the different relationship between a resident and the state compared to a non-resident and the state. There is long discussion about Maryland’s budget dollars and the government’s services that residents (but not non-residents) can claim, such as K-12 education. The state argues that giving the full credit – i.e. against both the state and local tax rates – results in the

CONTINUED ON PAGE 10

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resident not paying his fair share of the government’s costs for services that are available to him.

The state goes further in the position that multiple taxation is not unconstitutional because the resident state has the right to tax all of the resident’s income in order to pay for the state’s services, and that the state can tax an apportioned share of a nonresident’s income, i.e. the portion that is generated in Maryland. The explanation is that the two-tax schemes have different foundations – the resident tax is based on the privilege of residing in the state, and the non-resident tax is based on the privilege of earning income in the state.

THE PROCEEDINGS The case has had an interesting procedural history.

The Maryland Tax Court ruled for the Comptroller in a short oral opinion (unwritten / unreported) briefly mentioning the Maryland Court of Appeals’ decision in Comptroller v. Blanton (390 Md. 528 (2006)). The ruling held that the credit statute was clear that the credit applied only to the state portion of the tax.

On appeal by the taxpayer, the Howard County Circuit Court issued a detailed 80-page opinion that discussed the precedents cited by the taxpayer in his argument as well as additional authorities. The Circuit Court agreed with the taxpayer that Maryland’s partial credit mechanism violated the Commerce Clause of the U.S. Constitution. The court noted that the Blanton case mentioned by the Tax Court judge was decided based on statutory language only and did not include the question of unconstitutionality.

The court went on to outline that the S corporation – and therefore the individual’s income – was from interstate commerce. It did an exhaustive analysis of the Commerce Clause, including the requirements set forth in Complete Auto Transit.

The Court of Appeals agreed to hear the Comptroller’s appeal directly; the case skipped the Court of Special Appeals level. On Jan. 28, 2013, the Court of Appeals issued its 5-2 decision in favor of the taxpayer. The court said, “We find merit in the taxpayer’s contentions

and affirm the judgment of the Circuit Court.” That statement was followed by a 30-page decision in which the court went into its details of the dormant Commerce Clause analysis, its numerical example showing the double taxation, and a rebuff to the Comptroller’s arguments.

Interestingly, the majority opinion also discussed (in a rather long footnote) the majority’s analysis of the two dissenting judges’ opinion and said, “We find its legal analysis unpersuasive.”

On Feb. 27, 2013, the Comptroller filed its motion for the Court of Appeals to reconsider and reverse its January ruling, saying that the “apparent premise” of the court’s reasoning was incorrect and restating its positions from the briefs and oral arguments. The motion also requested that the court declare that its ruling would operate only prospectively for all taxpayers other than the Wynnes, and that the court stay enforcement of the judgment pending further appeal or legislative action.

On May 17, 2013, the court issued its order denying the motion for reconsideration but granting the stay pending the disposition of the state’s appeal to the U.S. Supreme Court. The court also responded to a statement in the Comptroller’s motion by saying, “A state may avoid discrimination against interstate commerce by providing a tax credit, or some other method of apportionment,” thus resolving the state’s interpretation that only a credit mechanism is what is mandated for Constitutionality. The order did not deal with the Comptroller’s request regarding prospective-only treatment.

After the Comptroller filed a petition for certiorari with the Supreme Court and the taxpayer filed its reply brief, the Court on Jan. 13 issued an order instructing the U.S. Solicitor General to express “the views of the United States” regarding Maryland’s petition for cert. This step is unusual although not rare. It usually involves questions of a case’s impact on the federal government, and so was puzzling to some because the Wynne case involves state taxation and not federal law.

General’s brief to the Supreme Court in April stated that “(t)he decision below is incorrect and warrants this Court’s review.”

After a long discussion that largely reflects similar arguments and authorities as in the state’s briefs, the Solicitor General’s brief concluded, “In light of the immediate impact of the decision below on the sovereign interests and fiscal solvency of Maryland, there is no sound reason to delay review. The petition for writ of certiorari should be granted.”

On May 27, 2014 the Supreme Court issued its order granting cert.

ESTIMATED FISCAL IMPACT OF THE CASE On Jan. 16, in the beginning weeks of the 2014 legislative session, the Maryland House Ways and Means Committee received a briefing about the potential fiscal impact of the Wynne case should the taxpayer prevail. The committee was told by the Comptroller’s Office that the estimate for refunds of tax plus interest at the current statutory rate of 13 percent was $241 million ($190 million for tax and $51 for interest), and that for future tax years the income tax revenues would decrease by $42 million annually due to the increased credit amount.A chart contained in the Comptroller’s materials showed that the largest impacts would be to Montgomery, Baltimore, Anne Arundel and Howard counties, with Montgomery County bearing over 50 percent of the total impact.

The videotape of the briefing is available on the General Assembly’s website and makes for some entertaining viewing at the point when one of the Delegates opines, “I can’t believe the Court didn’t kill us already (i.e. cert denial); we’re gonna lose.”

INTEREST RATE REDUCTION SNUCK INTO LEGISLATION Maryland’s statutory rate of interest payable on tax refunds in which the taxpayer is not at fault is 13 percent, right?

Wrong, at least wrong for the Wynne refund claims. I hazard a guess that

In another surprise to some, the Solicitor

CONTINUED ON PAGE 12

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no one was predicting the action the legislature would take this session, even though the legislators and county administrators have been concerned about the impact on state and local funds should Mr. Wynne win at the Supreme Court: On pages 43 and 44 of Senate Bill 172, the Budget Reconciliation and Financing Act of 2014 (the companion bill in the state budget balancing process – it can raise taxes, shift revenues and change spending mandates, among other things), in sections 16 and 20 of the “enactment clauses” (not a change to the codified statutory language), a change was made by the legislative committee charged with agreeing on the state’s budget provisions.

Section 16 of the Senate Bill provides that “notwithstanding any other provision of law” (i.e. the current rate of 13 percent), “the annual interest rate for an income tax refund that is a result of the final decision under Maryland State Comptroller of the Treasury v. Brian Wynne” is the “average prime rate of interest quoted by commercial banks to large businesses,” – that is, a rate that is currently about 3 percent. The provision applies retroactively to claims already on file, because Section 20 provides that Section 16 “applies only to income tax refunds attributable to taxable years beginning after Dec. 31, 2005 but before Jan. 1, 2015.” (The tax year 2006 was likely chosen as the starting point because that’s the year of the assessment to Mr. Wynne that began this litigation saga.)

Thus, in the late days of the legislative session, without being discussed in a public hearing with opportunity for public comment or even public knowledge, Maryland’s interest rate for Wynne refunds was changed from 13 percent to roughly 3 percent.

Although the provision is retroactive and applies to a select group of taxpayers rather than to all, the Attorney General’s

12

May 14, 2014 report to the governor opines,“We believe that the provision is constitutional and legally sufficient,” explaining that the Court of Appeals has stated that “ ‘interest on a tax refund is a matter of grace which can only be authorized by legislative enactment.’

Comptroller v. Fairchild Industries, Inc., 303 Md. 289, 284 (1985)”

WHERE ARE WE TODAY ?

Thousands of refund claims have been filed for prior years, for amounts small and large. As a small business state, Maryland has many small businesses organized as pass-through entities (as well as a few larger ones) whose owners are impacted by the Wynne issue.

Also, some taxpayers are filing their original returns with calculation of the credit against both the state and local tax rates. The Comptroller is simply storing the refund claims. For original returns that are filed using the Wynne calculation, the Comptroller’s Office is sending adjustment notices and bills to the taxpayers for the excess over the current statutory amount.

These notices need to be appealed timely by the taxpayer.

Amicus briefs to the Supreme Court are lining up on both sides. The briefs were due in September. The Court’s session opens the first week of October. Oral arguments will be scheduled, and a final decision is likely by June 2015.

changes be?

Also, the state and counties will need to address current and future budgets to manage the impact of the refund payments and future results of the needed law change. Will there be expenditure reductions? Revenue increases?

If the U.S. Supreme Court overturns the Maryland Court of Appeals decision and holds for the state, what will Maryland do? What will other states do? The likely answers largely depend on exactly what the Court says in its decision. But will Maryland keep its current partial credit and current denial of local credit? Or will the state choose to reduce its credit even further? Will other states change their current provisions to reduce the credit they grant for taxes paid to other states? In short, could we be looking at double taxation of most interstate commerce conducted by individuals and pass-through entities across the country if both the source states and the resident states are allowed to tax the interstate commerce income?

Stay tuned.

Karen T. Syrylo, CPA, is principal at SC&H Group and a member of the MACPA’s State Tax Committee.

WHERE MIGHT WYNNE LEAD? If the U.S. Supreme Court affirms the Maryland Court of Appeals’ decision, the Comptroller’s Office will need to process the refund claims. The state or counties will need to issue refund checks. Key questions: Will it be the counties or the state or both whose funds will be used for the refunds? And will there be a taxpayer challenge to the interest amount? The legislature will need to change the current credit provision to comply with the constitutional restrictions; what will those

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!

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CROSS-COUNTRY CPA: ‘ONE ACT OF KINDNESS IS PHENOMENAL’

BY BILL SHERIDAN, CAE

If you weren’t paying attention — and chances are you weren’t — you probably missed the story of the season for CPAs. In a summer filled with screaming headlines about racial tensions, ice bucket challenges and terrorist horror shows, you’d be forgiven.

moved from the cool March temperatures of Maryland to the mid-90s of Southern California, from the temperate conditions at an elevation of 4,000 feet to the scorching desert heat at 100 feet below sea level. Those extremes inflamed a serious case of arthritis in his ankle.

But on Aug. 9, a lone CPA quietly strolled onto the beach in Ocean City, Md., and stepped into the surf of the Atlantic Ocean. In that moment, two coasts were connected and an epic cross-country journey came to a close.

“I jokingly told people I was doing my Limp Across America,” Ryan said with a laugh.

Frank Ryan had made it.

“Physically, I have never felt so good in my entire life,” he said. “I never really appreciated the value of walking before, but it is one of the best things you can do.

The 62-year-old Business Learning Institute instructor had logged 148 days and 2,826 miles through 14 states as part of his “Walk Across America” to raise awareness for Good Shepherd Services, a non-profit organization that provides treatment and care for teens and young adults with developmental disabilities.

It was a demanding journey that tapped the depths of his physical endurance.

In a span of a couple of weeks, Ryan

It made me realize there are some pretty wonderful people in this nation and we have an awful lot to be thankful for.”

Cases in point: •

Ryan trudged, exhausted, into the Buckland Cafe and Auto Center (no joke — that’s the actual name of the joint) in Buckland, Kan., and sat down to order a meal. The waitress asked to hear his story and Ryan told it. “She looked at me and said, ‘You look really tired,’” Ryan recalled. “I said, ‘Yeah, I am.’ And she simply put her hand on my shoulder and said, ‘Have faith. You’re going to make it.’ That was the shot in the arm I needed. From that point on, there was no question in my mind that it was going to work out. That one act of kindness was absolutely phenomenal.”

•

As he made his way through eastern Kansas on his way to the Missouri border, Ryan crossed paths with a homeless man who, upon hearing his story, dug into his pocket and

In the end, though, the walk left him feeling better than ever.

“Emotionally,” he added, “getting it done, and seeing the level of support I received, and the fact that during the entire journey I had nothing but good experiences meant more to me than you can possibly imagine. The value of seeing that the American people are so good and decent was really invigorating.

CONTINUED ON PAGE 17

14

STATEMENT

“HOW TO NEGOTIATE AND PERFECT YOUR PITCH SO EVERYONE WINS, ESPECIALLY YOU!” Ron Shapiro

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gave Ryan all of the money he had — about $10.46. As he handed Ryan his money, the man said, “This is for my daughter. I don’t know where she is. Give this to the kids at Good Shepherd, because I’m an example of why they are there in the first place.”

“You could see this forlorn look in his eyes, as if he were saying, ‘I know I wasn’t the best dad in the world.’ To realize he gave me everything he had … it was very humbling,” Ryan said. “I saw that a lot.

People who had very little would stop and offer everything they had. It was a great lesson in how much better you feel when you’re giving than when you’re receiving.”

Connections like those drove home the biggest lesson Ryan learned along his journey.

to me. But I did not run into one bad experience in the entire 148 days that I was on the road. I had nothing but positive comments from everyone.

The positive value of the American people, the goodness of people who are extraordinarily poor, just absolutely convinced me of the genuine kindness and decency of people and the impact we can have in other people’s lives. That’s universal. What a great feeling to know that you’ve lost cynicism while regaining faith in the American people.”

In the meantime, it’s not too late to donate to the cause. Ryan estimates that more than $150,000 has been raised for the Good Shepherd Services mission, and he expects more to come in now that the walk is complete.

Make your pledge to the “Walk Across America” at www.gssmaryland.org/index. php/donate/Walk.

“I have absolutely lost all of my cynicism,” he said. “I used to jokingly tell people that as you get older, you become more cynical. That was certainly happening

tax training

all the resources you need in one place.

Visit the entire tax curriculum at MACPA.ORG/TAXTRAINING

OCTOBER 2014

17

Do you have broad professional liability insurance coverage?

You do if you are insured with the AICPA Professional Liability Insurance Program.

When it comes to something as important as your CPA firm, do you want to insure it with a professional liability insurance policy created for all types of professionals?

Doesn’t it make sense to cover your firm with a professional liability insurance program created with the support of the AICPA specifically for CPAs?

More than 25,000 CPA firms depend on the AICPA Professional Liability Insurance Program. Here’s why: • Policy form designed to cover the unique exposures of CPA firms • All size firms and areas of practice are eligible • Premium credits designed to reflect the way CPAs do business • Quality coverage at a price that fits your budget

Please contact Rich Bacher at Aon Insurance Services at 800.221.3023 or visit www.cpai.com/premierad today!

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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 registered trademark of CNA Financial Corporation.

Copyright © 2014 CNA. All rights reserved.

E-10373-414 MD.indd 1

E-10373-414 MD

2/6/14 11:08 AM

THE SHIFT CHANGE C O N T I N U E D a Town Hall with Tom Hood, CEO, MACPA

This fall, I will visit with members all over the state to provide the latest developments in the five driving trends of the shift change in the CPA profession: • leadership • learning • technology • generations, and • workplace.

Date

Event ID Location

10/10 10/16 11/06 11/13 11/19 11/21 11/24 12/02

140080 140081 140082 140083 140084 140085 140086 140087

CPE

Eastern Shore Rockville Anne Arundel Waldorf Frederick Western MD Towson Clarksville

CREDITS

MEMBER COST

4 hrs

complimentary

The Fall 2014 Professional Issues Updates will present the latest information on regulations and standards, tax accounting, and employee benefit plan audits. We will also discuss issues with the IRS and the DOL. And you will see the results of MACPA’s town hall polls so you can position yourself for success.

Hope to see you there!

Tom Hood, CPA,CITP,CGMA CEO, Maryland Association of CPAs

REGISTER FOR THE EVENT NEAREST TO YOU BY VISITING MACPA.ORG/PIU.

NEWS & VIEWS Profession launches effort to improve audit quality F RO M T H E A I CPA Integrity, objectivity and competence have long been hallmarks of the CPA profession and provide the foundation for CPAs’ reputation in the marketplace.

With accounting issues and the business environment becoming more complex, information-driven and fast-changing, practitioners face new challenges in maintaining audit excellence.

care; to setting audit and quality control standards; to administering the Peer Review Program. By summarizing nearand longer-term proposals to continue raising financial statement audit quality, the paper asks for feedback

To address those challenges, the AICPA has launched the Enhancing Audit Quality (EAQ) initiative (MACPA. org/EAQ), which presents the Institute’s efforts to help auditors of private entity financial statements further improve the quality of the services they provide.

Practitioners can give input on those plans by commenting on the AICPA’s newly released discussion paper, Enhancing Audit Quality: Plans and Perspectives for the U.S. CPA Profession (AICPA. org/EAQpaper).

EAQ AREAS OF FOCUS The AICPA is looking for input that could help it shape plans and programs proposed by the EAQ effort.

The discussion paper poses specific questions through an online community where stakeholders can engage in a productive dialogue.

Comments are due Nov. 7, 2014.

ADVANCING AUDIT QUALITY THROUGHOUT THE PROFESSION The discussion paper highlights ways the profession maintains and enhances audit quality, from establishing requirements for competence, diligence and due

20

“As they navigate today’s business environment, practitioners are intent on providing high-quality audit services to their clients,” said MACPA Executive Director Tom Hood, CPA. “The profession’s Enhancing Audit Quality initiative demonstrates the profession’s continued commitment to quality. It outlines the many areas where stakeholders from our profession’s many constituencies—our own members, peer reviewers, state boards, state societies and regulators—can work together to strengthen audit performance.”

from all parties involved in the audit process of non-public entities.

For purposes of the EAQ, “private entities” refers to all non-SEC registrants, including not-for-profit organizations, employee benefit plans and governmental entities.

Based on the foundational elements of quality — competence and due care; standards (audit and quality control); guidance, tools, learning and resources; and monitoring and enforcement — the discussion paper proposes significant changes to the following areas, among others: STATEMENT

l aw ye rs

Adva nc e d T a x Inst i t u t e

CPAs

M a s t e ri ng the C omp l ex m acpa . o rg / at i 1 1 /3 - 1 1 /6 M a rt in’s We st

Peer Review Program: The AICPA Peer Review Board approved a near-term plan introducing substantial improvements to the current Peer Review Program that range from enhanced peer reviewer quality and in-depth reviews of high-risk industries to improved engagement / firm tracking and more informative review results. In the longer term, an upcoming project will seek to transform the current Peer Review Program into a more realtime practice monitoring system that marries advanced technology and human oversight.

appropriate solutions can be explored.

Auditing and quality control standards: A joint task force consisting of representatives from the AICPA’s Auditing Standards Board (ASB), Peer Review Board and others is now gaining stronger insights into audit quality issues. The task force will examine where and how audit concerns occur and their root causes, so

FOR MORE INFORMATION

OCTOBER 2014

Evolving the audit: The AICPA Assurance Services Executive Committee (ASEC) is looking to the future of assurance services and seeking to leverage technology to develop new methodologies that will contribute to a more effective, efficient and timely audit process that will be more relevant to users. ASEC is working to provide insight into the traditional audit approach, how it has evolved and how it might continue to evolve into the future audit.

by the Peer Review Board. A video featuring AICPA Board Chairman Bill Balhoff, CPA, CFF, CGMA, discussing the EAQ initiative is housed on the site, too.

YOUR INSIGHTS ARE CRITICAL You can download, read and provide comments on Enhancing Audit Quality: Plans and Perspectives for the U.S. CPA Profession on the AICPA’s online EAQ Community (AICPA.org/EAQpaper). To comment, you must use your AICPA.org login or create a quick login online. Again, feedback is due Nov. 7.

The AICPA has created an informational webpage, AICPA.org/auditquality. This webpage features EAQ-related news and developments, including links to articles and blog posts on AICPA efforts, as well as resources on areas of focus identified

21

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At HeimLantz, PC we think differently about the public accounting profession. It’s not about just working with numbers; it’s about the businesses, the goals and the people those numbers represent.

It’s values like this that have recently earned HeimLantz, PC a Net Promoter Score of 78% compared to an industry average of 21%.

If you share this passion, this vision, and these values then we want you as part of our team. In addition to competitive salary and benefits we offer a progressive and transparent path to lead and grow within the Firm.

Due to our recent growth HeimLantz, PC has the following openings: • Staff Account in Annapolis: This is an entry level position in which candidate is actively pursuing their CPA license.

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Please send resumes to laura.macauley@heimlantz.com.

We encourage all “A players” to submit their resumes, regardless of openings. We want to hear from you.

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Celebrate the Profession at the

CPA SWEARING IN CEREMONY 11/10/14 | Hilton Baltimore BWI Airport | Event ID: 191030

CELEBRATE OUR PROFESSION AND WELCOME OUR FUTURE LEADERS An evening for all CPAs C and their families honoring our profession, celebrating our success, and welcoming the future. Join us for celebration, ceremony, and connection with other CPAs in a relaxed and enjoyable envi environment.

24

macpa.org/Celebration STATEMENT

BUSINESS & INDUSTRY Five steps for implementing an effective corporate ethics policy B Y TA N YA B A R M A N A N D SA M A NT HA WHIT E Editor’s note: This article first appeared in the June issue of CGMA Magazine. For more articles, sign up for the weekly e-mail update from CGMA Magazine at MACPA.org/CGMA. When asked about their values, the vast majority of companies can provide a document they would describe as a code of ethics or conduct. However, research suggests a possible disconnect between companies’ stated intentions and the degree to which they truly value ethical behaviour.

Here are five steps companies can take to ensure that their corporate ethics policy is effective and becomes embedded in the company culture. Also included are practical examples of the various ways organizations have accomplished this task.

CODE OF ETHICS The essential elements of a code include assurances of support for the policies from organizational leadership, practical guidance on what is expected regarding ethical issues, commitments concerning stakeholder relationships, example Q&As, scenarios or decision trees, details of how the code will be implemented and monitored, and the consequences of misconduct.

Signposts to further support, advice and other relevant policies should also be included.

COMMUNICATION AND AWARENESS CAMPAIGNS This is a continuous process.

Communication of a company’s ethics policy never ends.

To engage employees and raise awareness of ethical decision-making, Cisco Systems created “Ethics Idol,” a cartoon parody of the reality television singing contest American Idol. In each episode, animated contestants sang about a particular ethical dilemma or situation, OCTOBER 2014

which was then commented on by a panel of Idol-esque judges.

After watching the show on the company’s intranet, viewers were asked to vote on which of the judges had given the appropriate response to the situation. At the end of each section, the organization’s ethics officer revealed the correct answer based on official compliance standards.

Research shows that most companies’ efforts tend to fail after step two.

TRAINING AND REINFORCEMENT Most organizations now offer online anti-bribery training. On its own, this is not enough; companies shouldn’t be comforted by a tick-the-box mentality.

There is no substitute for face-to-face, qualitative training with wider discussion and debate of understanding and practical application.

Discussion of scenarios can help employees explore ethical issues in training sessions. For example, Stryker, a medical device producer, reviewed events that had taken place within its industry and built a set of fictionalized scenarios based on them. To provide context, Stryker created a hypothetical organization with a back story, mission and an organization chart. Employees were presented with a scenario based on this background and were asked to go through the company’s code of ethics to identify which of the standards were being broken in that case.

After the discussion, it was revealed to participants that all of the scenarios had actually taken place in the sector in the past, helping to bring the training home.

SUPPORTING CONTEXT AND CULTURE This involves having the “ethical architecture” in place to support a living, breathing code. That architecture includes outlining policies and regulations in employee contracts and supplier agreements, identifying individuals and boards who are accountable for outcomes, creating ongoing awarenessraising programes, opening discussions with feedback and having oversight and monitoring procedures in place.

Taking action against wrongdoing and communicating the action taken to staff is an important element of this.

More companies are including ethicsrelated criteria in performance reviews.

For example, management accountants might be asked whether they challenged or raised and resolved an issue or an area of concern that could lead to fraud. For managers, does your team escalate issues and ask for clarification?

Siemens’s strategy is to focus on bridging the communication gap between senior management and employees at the lower levels of the company. In the 2013 financial year, the company introduced “integrity dialogues” in which compliance refresher training is cascaded down through the company. Compliance officers provide training to the senior management of each business unit, who then train their own direct reports and so on. Individual operating units within the company enhance their training activities with additional topics that address challenges specific to them.

In this ongoing part of the practice, leaders talk about integrity and explain

CONTINUED ON PAGE 29

25

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how they themselves “walk the talk” in terms of how they do business. The dialogue is carried through to every sales meeting to bring about an open discussion on ethical issues and how they should be handled.

MONITORING AND ACCOUNTABILITY Effective speak-up arrangements, such as anonymous helplines – through which employees, contractors and other third parties can raise concerns in confidence about unsafe, unethical or unlawful practices – are important elements of good corporate governance.

A key component of these arrangements is that staff feel comfortable that they can raise issues without fear of retribution.

Some companies report the number and nature of queries raised internally to the board and executive committee and include the information in company newsletters. Some provide a breakdown of the reports by country and as a percentage of the workforce. Enlightened companies now communicate internally about disciplinary actions taken when wrongdoing occurs.

Some companies make this information public. Beverage company Diageo’s annual sustainability report details the number of suspected breaches of the company’s code of ethics (743 in 2013), how many of these were later substantiated (376) and whether they were reported through the speak-up hotline (242) or raised directly with a line manager or the compliance department, for example. The report also states that 116 people exited the business in 2013 as a result of breaches of the company’s code or policies.

Reporting in this way provides evidence that the company has procedures in place that are actually used and are effective in managing ethical misconduct.

Ethical management checklist Here’s a checklist of reflective questions for finance professionals relating to the management of ethics.

The questions serve as a foundation for reflection. CGMA designation holders must consider and comply with their employers’ policies and ensure they uphold the code of conduct of the membership organization to which they belong. A CGMA designation holder who is a member of the American Institute of CPAs must comply with requirements set out in the AICPA Code of Professional Conduct as well as any rules his or her state board of accountancy may have on the matter. Chartered Institute of Management Accountants members are required to uphold the CIMA Code of Ethics.

Also see MACPA.org/CGMAethics.

1.

Does your organization have an ethical statement / code of conduct / code of ethics? If yes, does it reflect your professional obligations?

2.

Does your organization currently communicate its ethical business practices and commitment to responsible business? If yes, how?

3.

Are your statements for responsible business monitored and verified? If yes, how and by whom?

4.

Does your organization include a session on ethics and responsible business in its induction program for all staff?

5.

Is this featured in ongoing training?

6.

Are you aware of what categories of ethical information are gathered in your organization? If yes, are there any omissions?

7.

Do you know who in your management team uses ethical data? Who else might benefit from using ethical data, and how do you work together?

8.

Does your board / chief executive / CFO take responsibility for ethical performance? If no, what role should they take?

9.

Are staff rewarded / disciplined in relation to ethical performance?

10. Is someone in the organization responsible for gathering or analyzing ethical performance information?

11. Does ethical data gathered within your organization help inform business decisions and business success?

12. Does your organization have an anti-bribery policy? If yes, is your anti-bribery policy promoted / enforced? How? 13. Does your organization have a whistle-blower / speak-up line? If yes, how is it communicated, and how are reports acted upon?

14. Does your organization have an open-door policy between management and other employees to promote openness and transparency?

15. Do you feel confident that you and your team can maintain objectivity and integrity as well as avoid conflicts of interest? What steps can you take to ensure you do?

16. Would you know what steps to take if you were asked to do something that challenges your ethical standards?

17. Have you undertaken professional development to improve your skills in gathering, understanding and using non-financial information to benefit your organization?

If yes, what other professional development in regard to ethical performance would you benefit from?

Copyright © 2011-2014 American Institute of CPAs. Copyright © 2011-2014 Chartered Institute of Management Accountants. All rights reserved.

According to the report, Diageo routinely shares examples of breaches that have recently occurred or testimonials from colleagues who were tempted to do the wrong thing yet made the right decision. The company also keeps track of employees’ perceptions of integrity within the company through asking questions in a values survey.

THE LITMUS TEST The real litmus test of whether your ethics policy is working and embedded is if an employee feels comfortable enough to speak up if he or she has a concern and whether he or she believes the company will respond and, if need be, take appropriate action.

Once an ethics policy is securely embedded in your company, you also have to take into account the wider value chain. Today’s complex and extended supply chain has significant implications for organizations’ ethical, governance and risk-management policies and practices. Therefore, it is advisable to conduct due diligence on new and existing suppliers alike, engaging them in ongoing discussions regarding your standards and contractual expectations.

For example, to engage a supplier base spanning 70 countries, UK-based retailer Marks & Spencer holds regular face-to-face meetings with partners as well as an annual conference. The company has a website where suppliers can access tools, guidance and incentives.

Helping to raise standards and awareness through the chain is beneficial for all. After all, good companies keep good company.

FINANCIAL PLANNING Savvy Social Security strategies for singles B Y J O D I D AV I S You might have heard that couples can use a “file and suspend” strategy to maximize their combined Social Security benefits. But did you know singles can use that strategy as well?

File and suspend can help couples achieve the best of both worlds. Here’s how it works. For simplicity, let’s assume the couple are the same age. They wait until full retirement age (age 66 for someone born between 1943 and 1954).

The wife has earned much more than the husband, so the husband wishes to collect half of the wife’s benefit (the “spousal benefit”), rather than collect his own. But the wife would like to delay receiving her benefits in order to receive the annual 8 percent delayed retirement credit. Up until age 70, personal Social Security benefits go up by 8 percent (not counting cost of living benefits) each year you delay benefits beyond full retirement age. The trouble is, the spousal benefit cannot be collected until the higher paying spouse files for benefits.

So the higher-paying spouse files for benefits, and then immediately suspends.

That allows the spouse to start collecting spousal benefits and the higher earning spouse can refile later and start earning their personal increased benefit.

How can a single person benefit from “file and suspend?”

Let’s say you choose to take reduced benefits at an early age of 62 but your financial picture changes (for the better) at 66. You can then voluntarily suspend benefits once you reach full retirement age (FRA) and earn delayed retirement credits until you restart your benefit checks. Yes, the credits are added to the previously reduced benefit, but ultimately the base benefit will grow with added credits, and even more so with a cost-ofliving adjustment (COLA).

Now let’s consider if you are a single person and plan to keep working until age 68. Should you file and suspend at age 66? Most would say no, but let’s consider a long-term strategy approach that may challenge that negative response.

If we consider this single-person example and the worker became very ill at age

67½, then applied to begin benefits and also needed extra income for medical reasons, the worker is eligible for a lump sum of 6 months of retro benefits back to the increased benefit age of 67. Had the worker filed and suspended at age 66, the worker would be eligible for a much bigger lump sum of 18 months, back to the FRA age of 66, and the worker would waive the delayed retirement credit option. Due to a serious illness, a break-even analysis proposing the value of increased benefits would not come into play because it would no longer be a consideration for longevity or survivor planning.

As these examples illustrate, even for singles, retirement income strategizing and understanding long-term key benefit choices can play an important role in retirement planning.

Jodi Davis is vice president and a financial advisor with The Kelly Group in Bel Air. She will be speaking as part of the MACPA’s 2014 Advanced Personal Financial Planning Conference, scheduled for Oct. 24 at Martin’s West in Baltimore. For details and to register, visit MACPA.org/pfp.

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HIGH-TECH SOLUTIONS Keys to greater information security and privacy B Y J U D Y B O RSHE R Editor’s note: This is the first in a series of articles on information security and privacy.

In the past week, you likely have received an e-mail in your inbox that “pretends” to be from your bank, an e-commerce vendor or another website. This style of technology-based social engineering attempts to obtain confidential information from individuals within an organization with the goal of accessing the organization’s network.

A breach of data is defined as an event in which an individual’s name plus Social Security number (SSN), driver’s license number, medical record or a financial record, including debit and credit card information, is potentially put at risk.

We have heard about several successful hacker attempts, including those at: •

•

•

the South Carolina Department of Revenue, where 3.9 million South Carolina tax returns and 387,000 credit and debit card numbers were exposed in November 2012; the University of Maryland, where 287,580 records were exposed in February 2014; and Target, where credit and debit card information of 40 million customers was compromised in November and December 2013.

As of March 27, 2014, the Identity Theft Resource Center had reported 204 data breaches with more than 4.2 million records of confidential information exposed. The financial and reputational costs of these kinds of losses are enormous.

WHAT TO WATCH FOR Here are two widely used techniques of social engineering deception: •

Encourage an unsuspecting user to open a malicious e-mail attachment. Attachments can contain malicious programming code that

32

can run on your computer without your knowledge. Backdoor trojans, which can enable an attacker to control an infected computer and steal confidential information, are a significant and tangible threat to Windows users.

•

Encourage an unsuspecting user to click on a hyperlink within an e-mail.

If you click on a hyperlink that opens the page of a malicious website, a file carrying a virus can be sent to your computer. Viruses can make system changes to hide or protect other malicious components.

In either case, the malware will seek ways to either transmit information back to an external location or cause problems on your network.

SUPPORT FOR WINDOWS XP DISCONTINUED As of April 8, 2014, Microsoft has stopped support for the Windows XP operating system. Your organization may decide to replace all Windows XP hardware or isolate the hardware by disconnecting the hardware from the internet and the local area network.

Additional security steps are to demote user profiles from administrator to standard user, select a reputable malware removal product (because Microsoft will release only limited updates to Microsoft Security Essentials for Windows XP), and never connect to an unsecured wi-fi network such as at an open coffee shop.

When you connect to a wi-fi network without password authentication, you are vulnerable to malicious software on any computer.

To help you move files from an older PC to a newer PC, Microsoft has released a free Laplink PCmover Express for Windows XP and also provides free, 24/7

telephone support at (877) 534-9644.

WINDOWS 7 AND 8 AND MICROSOFT OFFICE SECURITY UPDATES Your Windows 7 and Windows 8 operating systems need to stay up to date with Microsoft updates and security patches in addition to your Microsoft Office program updates. Microsoft Security Essentials can be used with Windows 7 to detect and remove malware. To update Windows 7 and Microsoft Office, click the Start button, click “All Programs,” and then click “Windows Update.” Then check for and install important updates.

Windows 8 incorporates features to block online activity, turn on Windows Update automatically, use Windows SmartScreen as a new phishing filter, and use the installed Windows Defender to run in the background and scan for malware. Learn more in “Windows 8: Explore new and improved security features.”

ADOBE ACROBAT SECURITY UPDATES Both Acrobat Reader software and the fully licensed Adobe Acrobat program must be updated regularly. To update any version of Acrobat Reader or Adobe Acrobat, click the “Edit” menu and select “Preferences,” then select the “Updater” category on the left. It is recommended to select “Automatically install updates.”

END USER SECURITY AWARENESS Each computer user must maintain a security awareness while processing e-mail, opening files, and browsing on the Internet. Be a strong link in your security chain by following these guidelines:

CONTINUED ON PAGE 35 STATEMENT

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

MACPA PREFERRED PROVIDERS

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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

1. Keep your operating system and application software up to date.

2. Always return to the password lock screen of your computer before walking away.

3. Always use a lock password on your smartphone.

Additional security topics will be covered in future parts in this series.

Judy Borsher, CPA, MBA, CGMA, CITP, MCT, is principal of SCG Training and Consulting Corporation. She can be reached at judy@ scg-training.com.

4. Never store confidential data on a thumb drive.

5. Never click on an e-mail URL or open an email attachment that is suspicious.

OCTOBER 2014

35

PRACTICE MANAGEMENT Get ready to get personal if you want the best clients and staff B Y I R A S . R O S E N BLOOM , CPA Winning the battle for top-flight staff

better you understand what would hold

your likelihood of attracting and retaining

and clients means getting very personal.

someone back, the more viable proposals

the best clients and staff. Knowledge is

It does not mean becoming friends or

can be and the better your chances of

the foundation of an accounting firm’s

socializing – it means gaining intelligence

avoiding a setback.

success. Bolster your knowledge about

that comes from deep probing. The more perform and the greater the likelihood of

WHAT WOULD SUCCESS LOOK LIKE?

beating your competition.

Defining a result and uncovering a target

intelligence you have, the better you can

Finding out what you need to know about clients and staff starts with the following personal questions:

WHAT KEEPS YOU UP AT NIGHT?

make it a lot easier to plan for achieving the result. Clarity from both clients and staff on what they are hopeful for will allow you to assess whether and how you can facilitate the success.

I have never met an entrepreneur who

WHAT IS REASONABLE?

had a perfect business, or an individual

Managing expectations is often vital to

who did not have provocative concerns.

Getting a firm grip on what goes through a person’s mind is the beginning of figuring out what your role can be with clients and staff and whether there is a match.

WHAT MOTIVATES YOU?

clients and staff will determine what is reasonable and acceptable. Probing as to how and why the expectations are in place will orient you to the best way to meet and exceed the expectations.

WHAT IS YOUR TIMELINE? Providing solutions, service and

be motivated. The more you know about them, the easier it will be for you.

WHAT DEPRESSES YOU OR WOULD DEPRESS YOU?

Ira S. Rosenbloom, CPA, is chief operating executive at Optimum Strategies, LLC, a consulting firm focused on helping small and medium-sized CPA firms enhance business performance, profitability, and foster practice continuity. He can be reached at ira@ optimumstrategies.com or (973) 666-1980.

expectations with the thoughts of your

wiring will better allow you to develop gratifying results. Clients and staff need to

rewards will be well worth the effort.

a successful relationship. Blending your

Understanding someone’s goals and a successful working relationship, with

your clients and staff. The monetary

opportunity on time will assure a mutually rewarding relationship with clients and staff. Making assumptions about timing is dangerous. Working within real deadlines reflects respect and will support a longlasting relationship.

Avoiding or diminishing the possibility

The competition for clients and staff is

of a problem for a particular client or

intense. Discovering the inner core and

staff member will diminish distraction

putting it to productive use will maximize

and optimize conditions for success. The

36

STATEMENT

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PROFESSIONAL DEVELOPMENT Stellar lineup highlights second season for FVS Speaker Series The MACPA’s Forensic and Valuation

make. New challenges in the wake of

During this program, local experts will

Services Committee has put together a

the economic turbulence have arisen

discuss the latest in forensic techniques.

stellar lineup for its second FVS Speaker

in estimating the cost of capital that all

Series.

finance professionals need to be aware of.

The series includes the following

This program will provide more detail

programs:

and discussion about these challenges

OCT. 3: ESOP 101 FOR CPAS Two local experts on employee stock ownership plans – David Bogus of Ellin & Tucker and Gregory Hogan of SC&H – will discuss what CPAs should know to properly advise clients about ESOPs,

and offer the most up-to-date thought leadership in estimating the cost of capital.

Keep an eye on the MACPA website for details.

ANNUL CONFERENCE COMING IN APRIL The third annual Forensic Valuations Conference will be held on April 24 at the BWI Hilton. Last year’s conference was a great success, featuring nationally recognized speakers James Hitchner and Ronald Seigneur and showcasing the talents of regional experts. The FVS Committee anticipates even greater

FEB. 4: TOOLS AND TIPS FOR THE FORENSIC ACCOUNTANT

participation this year as it expands to the

including: •

the basic mechanics of a leveraged

Respondents in the 2014 AICPA Survey

ESOP transaction;

on International Trends in Forensic and

forensic and valuation associations.

•

The FVS Committee leadership through

about the opportunities for forensic and

June 30, 2015 includes Chairperson

valuation services,” the report states.

Lynette Brown of L.E.W. Brown and

“Seventy-six percent of forensic and 54

Associates; Vice Chairperson Kris

percent of valuation respondents are

Hallengren of Weyrich, Cronin & Sorra

what types of companies should

expecting growth, with most anticipating

Chartered; and Secretary David Lanchak

consider an ESOP;

between 10 percent and 50 percent

of Gross, Mendelssohn & Associates, P.A.

pros and cons of ESOPs versus other

growth in their practice over the next two

The committee is ably supported by its

liquidity options; and

to five years.

MACPA coordinator, De’Landa Sullivan,

an update on the regulatory

“Of the 76 percent, roughly 33 percent

how ESOP transactions are structured and financed;

• • •

with several other professional accounting,

Valuation Services “were very enthusiastic

how stock is properly valued for purposes of an ESOP transaction;

•

Mid-Atlantic FVS Conference and partners

environment for ESOPs Get details at MACPA.org/ESOPs.

expected up to a 10 percent increase in demand for their services in the coming

the MACPA’s manager of professional development / conferences and webcast specialist.

two to five years. Another 30 percent

The committee is actively recruiting

anticipated up to a 25 percent rise in

interested individuals to participate.

demand, and about 13 percent were

Committee members must attend a

expecting a spike of 50 percent or higher.

The cost of capital is critical when

minimum number of meetings annually.

Twenty percent foresaw no change, and

conducting a business valuation or

If you are interested in the committee,

about 4 percet expected a decline in

calculating the long-run expected return

would like to attend our committee’s

demand. No doubt one contributing

on investments. From valuing individual

events, or would like more information

factor was the belief — held by two-thirds

securities or capital projects to evaluating

about the committee and upcoming

of respondents — that there would be

mergers or acquisitions, estimating

events, please call Dee Sullivan at (443)

an increase in litigation and regulatory

the cost of capital is one of the most

632-2309.

enforcement during the next two to five

important decisions that FVS professionals

years.”

DEC. 4: HOT TOPICS IN COST OF CAPITAL CONSIDERATIONS

38

STATEMENT

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Here you find a culture of people who enjoy the challenge of untangling today’s highly complex web of business, transactional, financial and tax issues, while enjoying the benefits of working at one of the area’s premier firms.

Our mentorship program ensures everyone has access to one-on-one training by industry experts who encourage their professional development. In addition, the boutique nature of our firm allows us to interact regularly and learn from one another in more casual ways. This provides us with the ability to offer skilled professionals tremendous opportunities for growth and job satisfaction as well as a great work environment.

Our culture is defined by our people. We pride ourselves on fostering an environment of collegiality and camaraderie; we truly care about each other and work together to meet the demands of our elite group of clients. It is only through this teamwork that we are able to meet our professional demands, advance our business and technical skills, and still support 10 Things Professionals Want Most 1. Purpose 2. Goals 3. Responsibility 4. Autonomy 5. Flexibility

each other to maintain a healthy work family life balance without losing our commitment to client service.

This is an integral part of who we are, why we are successful, and how we have maintained our reputation as one of the best firms in the country. We have for over 90 years and will continue to be our client’s most trusted business advisor.

Growth in our business has created new opportunities for experienced CPAs. If you are seeking to the move to the next level in your career, consider joining the Grossberg team!

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Looking for an exciting new opportunity, and a Great Place to Work?

CONTACT: Denise DeFiesta, Senior Recruiter ddd@grossberg.com, 301-571-1900 or apply at www.grossberg.com Grossberg Company LLP 6500 Rock Spring Drive Suite 200 Bethesda, MD 20817

Trusted Business Advisor Since 1924

TAX CORNER Methods of doing business abroad: Tax issues U.S. multinationals need to know B Y A B I J O SH I , CPA , M ST In today’s global environment, it is not uncommon to see companies doing crossborder transactions and having operations in different parts of the world. We no longer live in a world where only few wellknown multinational companies such as General Electric, Wal-Mart and Microsoft have a foreign presence.

Doing business abroad is more of a necessity than an option for being competitive and thriving in today’s everchallenging business world. With the rise of supply and demand for goods and services across the world, companies are being innovative and finding ways to tap into the global market.

According to a 2011 U.S. News and World Report article, about 54 percent of GE’s $149 billion in total revenue came from overseas, and about 45 percent of Exxon’s $342 billion in global revenue was generated from its international operations. These are examples of how important foreign operations have been for these big U.S. multinational companies and how globalization has enabled these companies to capitalize rapid growth in emerging markets like Brazil, China, India and the rest of the world.

However, there are business risks and challenges to going abroad.

One such challenge is taxation. Any time a U.S. company engages in foreign operations, it will face significant tax issues. In order to properly address these issues, it needs to be aware of various international tax regulations, and to plan and execute accordingly.

We often hear of corporate “inversions,” or companies using foreign subsidiaries to reduce potential U.S. tax liability. For instance, in 2012 Bloomberg reported that Google cut its taxes by $3.1 billion over three years using a technique that

40

moved most of its profits through Ireland and the Netherlands to Bermuda. Its income-shifting technique helped reduce its overseas tax rate to 2.4 percent, the lowest of the top five U.S. technology companies by market capitalization.

U.S. sources. Many foreign countries like the United Kingdom and Germany have territorial income tax systems in which companies are taxed on their domestic source income and not on their worldwide income.

High-profile examples of such inversions in action, including those involving Apple and Burger King, have caused some to question the practice and prompted lawmakers to propose tax reforms that could alter or eliminate the practice.

For example, if a U.S. company’s subsidiary in the UK earns $10,000 from U.K. sources, the company will need to pick up that $10,000 on its U.S. tax return under the worldwide tax system, even though its UK subsidiary has to pay separate UK tax on that income.

Granted, the U.S. company will also be entitled a foreign tax credit (subject to various limitations) for taxes paid to the UK government, but this kind of policy puts U.S. multinationals in a competitive disadvantage compared in terms of doing business on a global scale.

Most recently, as reported by Associations Now, Senate Finance Committee Chair Ron Wyden “said he’s already been in talks with Sen. Orrin Hatch (R-UT), ranking member of Senate Finance, to define key principles of legislation to close the inversion loophole. Hatch, for his part, has said any action by Congress in the near term to deter companies from redomiciling their operations overseas should be an interim measure, and that the real solution is to create a tax environment more favorable to businesses.

For the time being, though, no solid reform measures have been enacted.

The purpose of this article is to briefly describe the differences in the tax system of the U.S. and other countries, and to provide a brief overview of permanent establishment rules and various legal methods of doing business abroad, as well as their tax implications.

WORLDWIDE VS. TERRITORIAL TAX SYSTEM A major difference between U.S. multinationals and their foreign counterparts is that the U.S. has an income tax system that taxes a U.S. company on its worldwide income, as opposed to only taxing income from

In Congress, there have been ongoing talks of proposed reforms that would, in part, change the U.S. tax regime from a worldwide corporate tax system to a territorial tax system, which is used in most parts of the world. However, no solid measures have taken effect at the moment.

PERMANENT ESTABLISHMENT Any time a U.S. company starts expanding outside the U.S, it has to consider what sort of taxable presence it creates in the local country. This is where the term “permanent establishment,” or PE, comes into play. Article 5, Paragraph 1 of the U.S. Model Income Tax Treaty defines the term PE as a fixed place of business through which a business of an enterprise is wholly or partly carried on.

To determine that a PE exists, the following three conditions must be met: 1. The existence of a place of business.

CONTINUED ON PAGE 42 STATEMENT

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2. Such a place of business must be fixed – in other words, it must be at a distinct location with a certain measure of permanence, and not be temporary in nature.

3. There must be a connection between the operation of the activities and the place of the business – in other words, the operation of the business must be executed through such a place of business.

Any time a U.S. company creates a PE in a foreign jurisdiction, it is subject to taxation in that jurisdiction. Not only will those foreign earnings be subject to the local jurisdiction, it will be taxed by the U.S. under the worldwide tax system described above.

etc.) in foreign markets.

EXPORT SALES BY U.S. MANUFACTURER One method of selling goods abroad involves the domestic corporation to market its products directly to customers in other countries using its own U.S.based sales force or independent foreign distributors.

If the United States has an income tax treaty with the importing country (such as the U.K), the U.S. exporter’s business

There are various sort of taxes a company will have to think through with regard to its foreign source earnings, such as: •

foreign income tax in the local country in which the income is generated,

•

withholding tax from the distribution of dividends from the foreign subsidiary to the U.S. parent, and

•

U.S. income tax on the repatriation of foreign source income back to U.S.

To avoid the uncertainty of PE risk, many U.S. companies choose to operate abroad through various forms of legal structures, depending on the business, legal requirements, and a number of tax and non-tax factors that can impact the decision of how to do business abroad.

Here are some of the the different methods a domestic corporation can use to commercially exploit its products and valuable intangibles (patents, trademarks,

42

Model Income Tax Treaty, when a person other than an independent agent is acting on behalf of an enterprise “dependent agent” and habitually exercises an authority to conclude contracts in the name of the enterprise, that enterprise shall be deemed to have a permanent establishment with respect to any activities which that person undertakes for the enterprise.

Likewise, Under Article 5, Paragraph 6 of the U.S. Model Income Tax Treaty, an enterprise shall not be deemed to have a permanent establishment in a country merely because it carries on business in that country through a broker, general commission agent, or any other agent of an independent status, provided that such persons are acting in the ordinary course of their business as independent agents.

LICENSING INTANGIBLE PROPERTY

profits are generally not subject to foreign tax unless it carries on business through a fixed place of business or “permanent establishment” (i.e., a sales office) located in a foreign country. The export gross profits derived by a U.S. manufacturer are subject to current U.S. taxation. In this case, since the U.S. exporter’s business profits are not subject to foreign tax, there may not be a foreign tax credit issue. However, an important factor to keep in mind is the true independence of its agents or distributors in a foreign jurisdiction.

Under Article 5, Paragraph 5 of the U.S.

This is another wellknown method of doing business abroad. Rather than directly controlling the production and sale of its products, a domestic corporation can license the right to use its valuable manufacturing or marketing intangibles to a foreign company in return for royalties based on the sale of related products.

Most countries impose flat-rate withholding taxes on the gross amount of royalty income derived by offshore investors from sources within the country.

Income tax treaties generally reduce the withholding tax rates to 15 percent or less. Foreign source royalty income derived by a domestic corporation is subject to current U.S. taxation. However, under a deferral regime, taxes are deferred until the funds are repatriated back to the United States.

STATEMENT

Technically, multinationals that shift profits overseas are deferring U.S. income taxes, not avoiding them permanently, unless they decide to reinvest a significant portion of the foreign profit back into the company or hoard cash for future foreign acquisitions. Any foreign withholding taxes generally qualify as taxes paid in lieu of an income tax under IRC section 903, and therefore are creditable under IRC Section 901.

FOREIGN BRANCH A foreign branch can take the form of a direct presence of a domestic corporation in the foreign country, or a 100 percent owned foreign corporation that is treated as a disregarded entity under U.S. checkthe-box regulations (hybrid branch).

In either case, the income and taxes of the branch are treated as income earned and taxes paid directly by the U.S. parent corporation. Branch income is generally subject to foreign income tax, assuming the activities constitute a permanent establishment within the host country.

Income of a top-tier foreign branch is subject to current U.S. taxation and the foreign income taxes imposed on branch income are creditable under Section 901.

Although a branch remittance does not represent taxable income for U.S. tax purposes, it may trigger a foreign currency gain or loss if the exchange rate has fluctuated since the branch earnings were included in taxable income. If a branch’s deductions exceed its gross income, the net loss offsets the U.S. parent’s other income (subject to certain restrictions under recapture rules of Section 904(f) and dual consolidated loss rules under Section 1503(d).

FOREIGN PARTNERSHIP The U.S. and foreign tax consequences of doing business abroad through a foreign partnership are generally comparable to those of a foreign branch.

A foreign partnership can take the form of a foreign entity that is classified as a partnership for both U.S. and foreign tax purposes, or a foreign corporation that is treated as a partnership under the U.S. check-the-box regulations (a hybrid partnership). In either case, the income OCTOBER 2014

and taxes of the partnership are treated as income earned and taxes paid directly by the U.S. partner.

FOREIGN SUBSIDIARY CORPORATION A foreign corporation’s income is generally subject to foreign income taxes. Under the Deferral regime, the U.S. generally does not tax the foreign earnings of a foreign corporation until the earnings are repatriated through a dividend.

For various tax and non-tax reasons, U.S. corporations typically operate abroad through foreign subsidiary corporations.

The primary tax advantage offered by a foreign subsidiary is the ability to defer the payment of the residual U.S. tax on low-tax foreign earnings. The U.S. benefits of deferral tend to be the greatest for U.S. corporations that have significant foreign sales and valuable intangible assets, the income from which can be shifted to lowtax foreign jurisdictions.

Companies like Google, Facebook, Pfizer and Apple usually have foreign subsidiaries throughout the world through this type of structure.

A foreign business entity’s status as a “corporation” is determined under the U.S. check-the-box regulations, found in Treasury Reg. 301.7701-1 to 3. Certain foreign business entities must be treated as corporations for U.S. tax purposes.

These so-called “per-se” corporations are listed, by country, in Treas. Reg. 3017701-2(b)(8) and in the instructions for Form 8832, Entity Classification Election.

An eligible entity uses Form 8832 to elect its classification for U.S. tax purposes. The regulations provide default classification rules for entities that do not file Form 8832.

HYBRID ENTITIES The classification of a foreign business entity as a corporation, partnership or branch (disregarded entity) may differ for U.S. and foreign tax purposes.

For example, there are two basic types of corporate entities in Germany – the GmbH (Gesellschaft mit beschrankter Haftung) and the AG (Aktiengesellschaft).

An AG is a per se corporation, and must be treated as a corporation for U.S. tax purposes. In contrast, a GmbH with one owner may be treated as a disregarded entity, and a GmbH with two or more owners may be treated as a partnership.

Likewise, a hybrid branch is organized as a corporation in a foreign country but treated as a disregarded entity for U.S. tax purposes. A hybrid partnership is organized as a corporation in a foreign country but treated as a partnership for U.S. tax purposes. It is important to keep in mind that only the reverse hybrid may qualify as a controlled foreign corporation for U.S. tax purposes because it is the only entity that is considered as a foreign corporation for U.S. tax purposes.

IN CONCLUSION International taxation can be very complex and challenging for U.S. multinationals if not planned and executed properly.

Multinationals have to think ahead about not only the U.S. income tax perspective but also from a foreign income tax aspect.

Dealing with local tax jurisdiction can be equally burdensome since foreign governments are aggressively collecting more tax revenues from multinationals and the tax laws keep changing frequently, thus creating uncertainty in the market.

While the main goal of any U.S. multinational is to have foreign operation and expand its business to serve the global markets, tax risk is one important factor that a CEO and CFO should always keep in mind. The overall goal of the company should not be to evade taxation but to avoid paying excessive tax, reduce its effective overall tax rate, and have substantial cash tax savings for its shareholders Effective and early tax planning can properly allow U.S. multinationals to mitigate any uncertain tax risks inherent in local jurisdictions and timely address and minimize the foreign taxes to be paid abroad.

Abi Joshi, CPA, MST, is a tax manager, Global Compliance and Reporting, for Ernst & Young LLP in Mclean, Va.

43

MEMBER NOTES NEWS & VIEWS Laura Antonelli, CPA, has joined the tax department at Gross,

Amy M. Garlitz, CPA, has been promoted to manager at

Mendelsohn and Associates, P.A.

KatzAbosch.

Joe Brown, CPA, has been promoted to manager in the Tax

Elizabeth S. Gantnier, CPA, CGMA, is a winner

Department at Arthur Bell CPAs.

of SmartCEO Magazine’s Brava Awards for 2014.

Robert M. Burk, CPA, comptroller with Carroll County Government, was recognized as The Arc Carroll County’s Volunteer of The Year at The Maryland Association of

Michael L. Gentry, CPA, CCIFP, CCA, a

Community Services Annual Meeting on June 12. He has

shareholder with KatzAbosch, has been elected

served as treasurer of The Arc Carroll County’s Board of

to the firm’s Board of Directors.

Directors since 2010.

Lisa Cines, CPA, partner at Dixon Hughes

Karla Hawkins has joined Cheryl Jefferson & Associates of

Goodman and secretary / treasurer of the MACPA’s

Fulton, Md., as an executive assistant.

Board of Directors, has been named chair of the Board of Directors of the Montgomery County

Eddie Heppes, a CPA Candidate member with the MACPA,

Chamber of Commerce.

an accountant with DeLeon & Stang who specializes in audit

Kevin Connelly, a CPA Candidate member of the MACPA, has

industries, has obtained his CPA license.

and employee benefit services for non-profits and commercial

been named a staff accountant in the audit and accounting

Eric Hiemstra, CPA, has been promoted to

department at Gross, Mendelsohn and Associates, P.A.

manager with Stegman & Company.

S. Vincent Crescenzi, CPA, CVA, CFE, former present and managing partner of Councilor, Buchanan & Mitchell, P.C., and Peter B. Reilly, CPA, CVA, the firm’s new president and managing partner, were featured speakers during Enterprise

Alvin Katz, CPA, co-founder of KatzAbosch, has

Worldwide’s Annual Symposium. During the Symposium’s

been elected to the Board of Directors for The

“Building a Firm, Leaving a Legacy” session, Crescenzi and

Education Foundation of Baltimore County Public

Reilly shared stories and answered questions about their trials

Schools.

and triumphs of business succession planning as well as the actual change of leadership. Crescenzi also was presented with

Thao M. Khuu, a staff accountant with Stoy,

a Lifetime Achievement Award by Enterprise Worldwide at its

Malone & Co., P.C., and a CPA Candidate

Annual Symposium.

member with the MACPA, has passed the examination for her designation as a Certified

Jason Dembeck, CPA, has joined the audit and accounting

Public Accountant.

department at Gross, Mendelsohn and Associates, P.A. Carrie King, CPA, has been promoted to senior accountant with Griffin Detrick, CPA, has been promoted to senior accountant

Gross, Mendelsohn & Associates.

in the Family Office Services Group at Arthur Bell CPAs. Wei Li, CPA, has joined McGladrey as an assurance associate.

Angela Dmitrieva, CPA, has been promoted to manager with Stegman & Company.

Aaron Michael, CPA, has been promoted to a director in the Tax Department at Arthur Bell CPAs.

Chaim Fine, CPA, CFP, has been promoted to manager with Gross, Mendelsohn & Associates.

Catherine Fortwengler, CPA, MBA, has been promoted to manager at KatzAbosch.

Liz Milligan, a CPA candidate member of the MACPA, has been promoted to semi-senior accountant with Gross, Mendelsohn & Associates.

CONTINUED ON PAGE 46

44

STATEMENT

Exploring Communication Styles of Women: STRENGTHENING THE FEMALE VOICE IN ACCOUNTING November 10, 2014 | BWI Airport Marriott | Event ID: 191017

macpa.org/womencom

THE BLI AUTHOR SPEAKER SERIES

“The Anticipatory CPA” WITH DAN BURRUS JANUARY 9TH HILTON BALTIMORE BWI AIRPORT

The main skill CPAs need to thrive in a business environment marked by hyperchange and uncertainty is the ability to accurately anticipate the future.

Daniel Burrus is one of the world’s leading technology forecasters and innovation experts.

Come learn to analyze and perceive trends, tap into everyday innovation, solve challenges faster, and recognize previously invisible opportunities.

Register to Attend: BLIONLINE.ORG/BURRUS EVENT ID

191014

Richard E. Morris, CPA, MST, a senior vice president and director of tax services with Councilor, Buchanan & Mitchell, P.C., was presented with Enterprise Worldwide’s Brand Ambassador award at its Annual Symposium on May 29.

FIRM NOTES Cheryl Jefferson & Associates has moved to a new office

Vincent P. Nesline, CPA, president of Stoy, Malone

at 8160 Maple Lawn Blvd., Fulton, Md. The firm’s continuous

& Co., P.C., has been appointed treasurer of the

movement toward its values of using cutting-edge technology,

Towson Rotary Club through June 2015.

being a paperless firm and reducing its impact on the environment has led to the need for less physical office space.

The firm’s entire staff work remotely from home either full-time

Stephanie Parker, CPA, has joined the tax department at Gross,

or part-time. Fulton was selected as the new location due to its

Mendelsohn and Associates, P.A.

proximity to many of the firm’s clients in Virginia and Maryland.

Matt Rager, CPA, has been promoted to senior accountant in

Councilor, Buchanan & Mitchell, P.C., has successfully

the Tax Department at Arthur Bell, CPAs.

completed the first six months of Project Clear Path, the firm’s

Justin Ricciardella, a CPA Candidate member with the MACPA, has been promoted to in-charge accountant with Berman Goldman & Ribakow LLP.

new mentorship program. Launched in January, Project Clear Path is designed to help CBM employees by providing them a clear path to meeting personal and firm-wide goals.

Councilor, Buchanan & Mitchell’s first School Supplies Drive

Daniel Russell, a member of the Audit and Attestation Group at HeimLantz, has obtained his Maryland license as a Certified Public Accountant.

Janice M. Seekford was honored recently for her 50 years of service at Smith Elliott Kearns & Company, LLC. She joined the company in 1964, just one year after its founding. She started working as a clerical staff person at the original building at 25 North Ave. in Hagerstown, then moved with the growing firm to its current Hagerstown location at 480 North Potomac St. Paul Turner, CPA has been promoted to manager with Berman Goldman & Ribakow LLP.

resulted in donations of more than $1,000 school supplies. The donations were delivered to the Housing Opportunity Community Partners in the form of 30 backpacks, each filled with all of the supplies a student will need for a successful start to their school year.

Dixon Hughes Goodman has paired up with local organizations for a “Count the Cans” canned food drive to help fight hunger in the Metro D.C. area. The firm’s Tysons office worked with Food for Others, a Fairfax-based non-profit organization and the largest distributer of food to those in need in Northern Virginia.

The firm’s Rockville office joined with the Manna Food Bank, the main food bank in Montgomery County that serves more than 2.7 million individuals in the community. The firm helped to donate more than 431,000 pounds of food during the drive.

Dixon Hughes Goodman has been named one of Greater

Emily Updegraff, CPA, has been promoted to Senior Accountant

Washington’s Healthiest Employers by the Washington Business

at KatzAbosch.

Journal. Companies were scored in six categories: leadership commitment, communication and markets, foundational

Michael Weber, CPA, is a founding partner with more than

components, programming and interventions, strategic planning,

30 years of accounting experience, Weber holds a bachelor’s

and reporting and analysis.

degree in accounting from Loyola University (formerly Loyola College) and a master’s degree in taxation from the University of

Miller, Miller & Canby has welcomed Edward S. West as principal

Baltimore. He is a registered representative and an investment

in the Real Estate Practice Group.

advisor representative with NFP Securities. An active member of the community, Weber is a frequent speaker on topics including best accounting practices for not-for-profit organizations. Since 2007, he has served on the Board of Recreation and Parks for Baltimore County.

IN MEMORIAM G. Robert “Bob” Zink, CPA, a member with Arthur Bell CPAs

Todd Wilcom, a CPA candidate member of the MACPA, has

and an MACPA member since 1984, died on June 4, 2014, at

been promoted to senior accountant with Gross, Mendelsohn &

Carroll Hospice Dove House in Westminster. He was 54.

Associates.

MEMBER SERVICES WELCOME, NEW & REINSTATED MACPA MEMBERS! ANNE ARUNDEL COUNTY ANDREW J. HIPPLER DOUGLAS J. MINARD KIMBERLY M. JOYCE YANINA GULIDOVA CAPITAL AREA CHAPTER ACHAMA S. ONUMA BRIAN J. ROLATER GEORGIA BOYD GRECIA SANDOVAL JEFFREY W. RASMUSSEN JEREMY GREENWALD KATHERINE THOMAS KELSEY WILKE LINDA LEE

LINDSEY KHOKHAR LISA L. TATE MIKE SHAKOORDOKHT SABEEN KHAN SARAH E. GLASGOW, MSAF SHRDE L. NELSON YUYANG PENG CENTRAL MARYLAND CHAPTER AMY PILLITTERI ANGELA D. KIRCHNER ANTHONY L. HASKINS CARLOS U. RODRIGUEZ CAROL PARKER-PEREZ DAVID SHULTIE DAVID W. GAILEY III

DEVON RODRIGUEZ GARRETT A. LEVY MR. GREG A. PRUITT JANET COOKSON JEHOSHAPTH P. PRYCE JOHN J. DYER IV JON L. REIDER KELLY J. VERMACE KRISTIN N. FORCUCCI, MBA MARK V. OLYSHKO MATTHEW A. KONDILAS MATTHEW S. STROMBERG MICHAEL J. DALESIO PATRICIA MCNELIS RONNA R. ZULUETA SOPHIA J. JACOBS

TRISHA A. SMITH VICTORIA A. LINTON MID-MARYLAND CHAPTER AWOKE B. DESSIE PENNY AUBERTIN RAUL A. NESTARES, MBA SOUTHERN MARYLAND CHAPTER KALI J. CHIUSANO OUT OF STATE AZANNA A. GARNETT YACOB G. KINYEMI

WELCOME, NEW CPA CANDIDATE MEMBERS! ANNE ARUNDEL COUNTY AARON COPELAND, CPA CHRISTOPHER J. MCGRATH, CPA DANIEL T. RUSSELL, CPA GARRETT T. WELLS, CPA JAMES P. KELLY, CPA JENNIFER A. LESAGE, CPA JENNIFER L. SCHIED, CPA JONATHAN A. DAILEY, CPA JUSTIN P. HUGHES, CPA KENT D. MILLER III, CPA LEBOGANG MBONANI, CPA MARIA ANGELES FERNANDEZ, CPA STEPHANIE L. BECKNER, CPA TIA K. CASSEL, CPA TIMOTHY R. MORTIMORE, CPA, MBA TRACEY A. POWELL, CPA YELENA Y. VURGAFTMAN, CPA CAPITAL AREA CHAPTER ADAM FREEDENBERG, CPA ALAN L. KAPLAN, CPA ALEJANDRA HOYOS, CPA AMANDA S. FULLER, CPA AMELIA A. HILLMAN, CPA ANDREA H. SPETRINI, CPA BARRY MARLIN, CPA CHIRAG G. PATEL, CPA DAVID A. KEMAH, CPA, MBA DAVID BURNSTEIN, CPA, ATTORNEY DEANNA FRISBY, CPA FRANCIS W. KIM, CPA GARY A. FRANKLIN, CPA JAESHIN YOO, CPA JAMES M. NEWBY, CPA JENNIFER D. MONTOYA, CPA JEREMY JACQUES, CPA JESSICA R. MOSS, CPA JONATHAN BUBLICK, CPA JORGE A. ESTRADA, CPA JOSEPH C. ESPARRAGUERA, CPA JOYCE MONTEMAYOR, CPA KAM LO, CPA KARLA B. THOMAS, CPA

OCTOBER 2014

KAUSHIK N. SHETH, CPA KENNETH A. TURNER, CPA KEVIN MATTHEWS, CPA, MBA, MACC, PHR LAURA BREISCH, CPA LISA M. MALY, CPA MARAL NAKASHIAN, CPA MARY L. MARTIN, CPA MICHELLE BARNABY, CPA MITCH D. WEINTRAUB, CPA MOLLY OELLERICH, CPA NATALIA STRUKOVA, CPA OLGA KHAZANOVA, CPA PHILLIP K. CHOUGH, CPA RAMAN R. DESAI, CPA RINA K. YEE, CPA ROBIN J. SKINNER, CPA ROCHELLE WUJEK, CPA RYAN K. MILLER, CPA RYAN P. HAM, CPA SAMANTHA A. KRALL, CPA STEPHEN L. BOISVERT, CPA STEVEN M. EASLEY, CPA SYLVIANE H. NGUYEN, CPA TIMOTHY L. JONES, CPA UZOMA C. OBI, CPA VALERIE A. COX, CPA WILLIAM P. CRUMP, CPA, MBA YONG CHOI, CPA CENTRAL MARYLAND CHAPTER ADRIAN ALBIDRESS, CPA ADRIENNE CRUTCH, CPA AMY N. FALKLER, CPA ANNE K. GUSTIN, CPA ANTHONY TSOUROUNIS, CPA ATARA LEWIS, CPA AUDREY WHITE, CPA BART L. KRUPNICK, CPA, CVA BERNARD J. DEMBECK, CPA BRENDAN V. SISK, CPA BRETT M. SANDERS, CPA BRITTANY GARVER, CPA BROOKS A. HENNEMAN, CPA

CALVIN HARRIS JR., CPA CHRISTINA MCKINNEY, CPA CHRISTINE E. MOORE, CPA, MBA CHRISTOPHER DAVIDSON, CPA COLBY A. CATANIA, CPA DAVID WEINBERGER, CPA DEBORAH L. BLAIR, CPA, CGMA DERREK MYERS, CPA DIANA M. ROGERS, CPA, MBA EKPENYONG INIUNAM, CPA ELIZABETH A. LYTLE, CPA ERIC D. MARCUS, CPA HELEN D. BURKE, CPA JAMES C. BURGESS, CPA JAMES F. EATON III, CPA JAMES J. SECOGES, CPA JEFFREY L. HILLARD, CPA, MSM, CMA, DM JEFFREY W. LEWIS, CPA JENNIFER A. SINNOTT, CPA JENNIFER R. LAZENBY, CPA JODI L. HARRIS, CPA JOHN M. VARVARIS, CPA KACIE C. SHELSBY, CPA KALEB C. HOEFLER, CPA LAURA B. REAMES, MSA, MBA MICHAEL D. GRACE, CPA MICHELE A. MARTIN, CPA MICHELE M. COHEN, CPA NIKKIA N. FITCH, CPA OKSANA PAVLYK, CPA PATRICK M. MOYLAN, CPA RACHEL C. GANN, CPA ROBERT BANKS, CPA ROBERT F. DOOLEY III, CPA RYAN FIELDS, CPA RYAN J. BIXLER, CPA SAYO MACINO, CPA SCOTT J. PURRINGTON, CPA SEAN DOUGHERTY, CPA SEAN WALKER, CPA STACEY A. MAHLMEISTER, CPA TERENCE H. WARNER, CPA THOMAS A. BELL, CPA

THOMAS M. BEAUFELTER JR, CPA ZHENYA EGOROVA, CPA EASTERN SHORE CHAPTER DENITSA N. MYERS, CPA THERESA D. PALLADINO, CPA, MBA MID-MARYLAND CHAPTER ADAM C. COSDEN,CPA ANDREA N. BEFANO, CPA, MBA JAMIE ISEMINGER, CPA LORI C. CHARLEBOIS, CPA LYDIA M. GOURLEY, CPA MARY K. BUDNICK, CPA PAUL S. MUMA, CPA THOMAS E. SPILMAN, CPA SOUTHERN MARYLAND CHAPTER LISA H. SMITH, CPA LORI E. MYERS, CPA OUT OF STATE ALAN S. KING, CPA AMANDA C. FISHER, CPA BETH Y. VERMEER, CPA, MS, PHD CARLY PETERS, CPA COLE TABLER, CPA ERIN ELIZABETH M. SINGLE, CPA GREGG FUNKHOUSER, CPA GRETA TOSI-MILLER, CPA HOLLY A. YOUNG, CPA JAMES J. BOLIN III, CPA KELLEY S. STRONG, CPA, MS KRISTA A. HICKMAN, CPA MARLENE S. DONALDSON, CPA MELISSA R. BOULOS, CPA RICHARD J. LOCASTRO, CPA STEPHEN J. KELIN, CPA

47

What is NYPN? NYPN is an organization committed to connecting new / young professionals to the MACPA, protecting the integrity of the profession, and helping new CPAs and CPA candidates achieve their goals. NYPN is a place where new CPA professionals can make contacts in the profession, get involved in the community and get the support they need to be successful. The requirements to be a part of NYPN are CPA candidates (working on or having achieved the 150-hour threshold) or current CPAs under the age of 40 and/ or licensed for fewer than five years. Learn more at macpa.org/NYPN.

TOP 10 REASONS TO GET INVOLVED: 1. Camaraderie 2. Insight

3. Professionalism 4. Development 5. Growth

6. Commitment 7. Charity 8. Community 9. Responsibility 10. FUN!

Save the Date NOV. 6, 2-5 P.M. | THREE-HOUR CPE EVENT FOLLOWED BY A BEER TASTING HAPPY HOUR! Courtney Kirschbaum spent 15 years leading global technology projects for the likes of Deloitte, KMPG and BearingPoint. There, she coached individuals and teams and explored human development and peak performance. She brings all of this knowledge back to us in an energetic, interactive session on the “Time and Energy Habits of High Performers.” After the session, continue the conversation with Courtney, your peers, and the Young Lawyers Section as we participate in a beer tasting happy hour. Be on the lookout for more information and registration details soon.

NOV. 10, 6:30-9:30 P.M. | NEWLY LICENSED CPA SWEARING-IN CEREMONY AND RECEPTION At this annual event, we celebrate our profession and welcome our future leaders. It includes a cocktail reception and open bar. While the climax of the night is when new CPAs take their professional oath, many managing partners and other CPAs come to network with new talent.

NOV. 12, 9 A.M.-NOON | RON SHAPIRO: “HOW TO NEGOTIATE AND PERFECT YOUR PITCH SO EVERYONE WINS, ESPECIALLY YOU” In Baltimore, most people know Ron Shapiro as Cal Ripken’s sports agent. The rest of the country knows him as a negotiations expert, wildly successful attorney, and New York Times best-selling author. And he’s a friend of the MACPA who is coming to speak for us on Nov. 12 at the BWI Hilton about his new book, “Perfecting Your Pitch.”

Get involved GET TO KNOW OUR NYPN ADVISORY BOARD AND FIND OUT FIRST-HAND WHAT WE’RE ALL ABOUT: Chair: Debra Hale, Weil, Akman, Baylin & Coleman, P.A.: dhale@lhbusinessconsulting.com Vice chair / chair-elect: Stephen Hohne, Hertzbach & Company: shohne@hertzbach.com Secretary / treasurer: Kuo Lee, CrossCountry Consulting: kuosheinglee@gmail.com Past chair: Nick Hollander, L&H Business Consulting: nhollander@lhbusinessconsulting.com LEADERSHIP BOARD Activities / professional development chair: Jennie Hammett, Gorfine, Schiller & Gardyn: jhammet@gsg-cpa.com Public Relations / outreach chair: Barrett Young, The Green Abacus: barrett@thegreenabascus.com At-large member: Harry Sturgis, Weyrich, Cronin & Sorra Chtd.: harrys@wcscpa.com At-large member: Katy Koza, Grant Thornton: kathryn.koza@us.gt.com

48

STATEMENT

Find interns here.

Announcing the all-new website connecting accounting students, CPA candidates, and the organizations looking for talent.

VISIT TOMORROW’S CPA ONLINE:

macpa.org/tcpa to see all the great resources available to the next generation of our profession.

CLASSIFIEDS mergers & acquisitions

atmosphere lends itself to producing successful, satisfied professionals. This is an integral part of who we are, why we are successful, and how we have maintained our reputation as

QUALITY CPA FIRM WISHES TO ACQUIRE PRACTICE OR ACCOUNTS in Baltimore/Washington/

one of the best firms in the country.

Annapolis area, or possible association with retirement-minded

experienced accountants in our Bethesda, Maryland office.

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

If you are seeking to move to the next level in your career,

410.539.7100, or File No. 63-87.

consider joining the Grossberg Team!

SANTOS POSTAL & COMPANY, PC, a nationally recognized CPA firm located in Rockville, MD, is enhancing its organic growth through the acquisition or merger of existing

Growth in our business has created opportunities for

We are seeking: • Tax Managers • Tax Supervisors

practice or accounts in the Washington metropolitan area. Reply

• Tax Seniors

in confidence to File No. 28-91.

• Audit Managers

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

• Audit Assurance Seniors Requirements: • BS/BA degree in Accounting or related field

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

• 3 to 10+ years of experience

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

• Tax or audit and accounting experience in a public accounting arena

right 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

• Ability to research and apply concepts to clients’ situations

information please call Bradley Holmes with the APS Holmes

• Proficiency in technical writing and research

Group at 1-800-397-0249 or email Bradley@apsleader.com.

• Ability to communicate with staff at all levels

INTERESTED IN BUYING A PRACTICE? See

• Comfortable with working in a team environment

local and nationwide listings at www.AccountingPracticeSales. com and register for free email updates or call us at 1-800-3970249.

job openings EXPERIENCED ACCOUNTANTS For 90 years Grossberg Company LLP, has been a premier provider of accounting, tax and business consulting services, specializing in services to the real estate industry. Grossberg Company LLP has a well-known reputation of unparalleled client satisfaction. At the heart of this success, are professional staff members who possess the skills and training required to survive in the ever-changing world of new tax laws and regulations, advanced technologies and strategic business planning. Built on decades of hard work and timely responsiveness to clients, Grossberg Company LLP devotes a substantial amount of firm resources to training its people, keeping them apprised of the latest developments that may affect their client’s business operations, tax planning strategies and their long-term business objectives. As a result, the employees of Grossberg Company LLP are some of the best and brightest in their field and the casual, laid-back working

Grossberg Company LLP offers a competitive compensation package including training and opportunities for advancement; medical, dental, disability insurance, life insurance, retirement program including profit sharing; paid holidays and vacation, flex-time policy, company sponsored gym membership, and a business casual attire dress code.

Qualified candidates should apply on-line at: http:// grossberg.catsone.com/careers.

TWILLEY, ROMMEL & STEPHENS, P.A. a regional certified public accounting firm in Salisbury, MD, is searching for an Experienced Tax Manager with seven (7) plus years of public accounting tax experience. The successful candidate should be a CPA and possess strong individual, partnership and corporate tax experience. As a tax manager, you will be responsible for: reviewing individual, partnership and corporate tax returns; assisting with research and planning; evaluating the tax impact of current and proposed company activities and transactions; and implementing strategies to minimize corporate and individual tax liability in accordance with current tax laws. Competitive compensation and benefits package. Please email resume, with salary requirements and references to slavdas@trscpa.com.

ESTABLISHED TOWSON CPA/WEALTH MANAGEMENT FIRM offers excellent opportunity for motivated, growth-oriented CPA ready to leave behind the rigors of tax season for a career in tax-advantaged wealth management. Senior Associate will work closely with firm owner to serve existing clients’ tax, accounting and consulting needs while expanding his/her financial planning skills.

Please visit www.cbiz.jobs to apply online or email our Talent Team at CBIZMHMCareers@cbiz.com.

Equal Opportunity Employer committed to employment of Females, Minorities, Persons with Disabilities and Veterans.

An E-Verify Employer.

and entrepreneurial mindset to contribute to the firm’s strategic

OUR PURPOSE…..WE BELIEVE WE CAN MAKE LIVES BETTER.

planning and practice development. CFP and/or PFS a plus.

Our Core Values

Equity opportunity exists for qualified candidate over time. Send

Collaborate for the best results.

Candidate will be challenged to leverage his/her experience

resume to File #08-14 in care of amym@macpa.org.

EXPERIENCED AUDIT AND ACCOUNTING SUPERVISOR/MANAGER WANTED for a CPA

Creating strong relationships based upon mutual honesty and integrity.

Own your actions-Learn from your mistakes.

Innovate to Differentiate.

firm located in Baltimore County. You will be responsible for

Get it Done!

preparation and review of audit, compilation and review work

Desire to be Better.

papers and financial statements, and will assist with the overall accounting services offered by the firm. You will be working directly with the partners.

We offer a competitive compensation package including medical, dental, 401k and profit sharing, life insurance, generous paid vacation and holidays, casual dress, free parking, year-end bonus and overtime.

The firm continues to grow each year.

Requirements: - BS/BA in Accounting or related field; - 7 to 15 years of experience preferably in public accounting; - team player;

Happy and Caring People make us Better.

At HeimLantz, PC we think differently about the public accounting profession. It’s not about just working with numbers; it’s about the businesses, the goals and the people those numbers represent.

It’s values like this that have recently earned HeimLantz, PC a Net Promoter Score of 78% compared to an industry average of 21%.

If you share this passion, this vision, and these values then we want you as part of our team. In addition to competitive salary and benefits we offer a progressive and transparent path to lead and grow within the Firm.

- excellent verbal and written communication skills; - ProSystem Engagement a plus.

Due to our recent growth HeimLantz, PC has the following openings:

Email resume with cover letter and salary requirements to: tdee1969@yahoo.com.

• Staff Accountant in Annapolis- This is an entry level position in which candidate is actively pursuing their CPA

CBIZ AND MAYER HOFFMAN MCCANN P.C. (MHM) are together ranked as one of the top ten

license.

accounting services providers in the United States. With more

candidate has 3-5 years of experience in a public accounting

than 35 offices and more than 2,000 professionals, we serve the

firm and has their CPA license or is eligible to sit for it.

country’s growing mid-market public and private businesses.

MHM provides high quality audit and attest services while closely associated CBIZ provides all other accounting, tax and consulting services.

We are seeking to hire audit and tax professionals to join our team nationwide. The ideal candidates will have at least two years of experience in a tax and audit environment. There are opportunities for highly motivated individuals to establish their career and to position themselves for professional growth and development.

• Senior Accountant in Alexandria VA- Preferably this

• Administrative Service Coordinator- This candidate must have customer service experience with strong organization skills and attention to detail.

Please send resumes to laura.macauley@heimlantz.com.

We encourage all “A players” to submit their resumes, regardless of openings. We want to hear from you.

Upcoming Events & Courses DATE

COURSE TITLE

CPE

TIME

MEMBER

NON-MEM.

EVENT ID

LOCATION

ACCOUNTING & AUDITING 10/1/2014

Revenue Recognition - Overview & Implementation Issues

4

12 p - 3:30 p

$150

$200

110022

The Loyola Graduate Center, Timonium

10/1/2014

WEBCAST: Revenue Recognition - Overview & Implementation Issues

4

12 p - 3:30 p

$125

$125

17WL15

LIVE- ONLINE WEBCAST, INTERNET

Accounting and Auditing Current Developments

8

8 a - 3:30 p

$220

$320

110023

Loyola University Maryland Graduate Ctr Columbia Campus, Columbia

10/9/2014

WEBINAR: Accounting for Revenue from Contracts with Customers

1

2p-3p

$39

$39

17W0047

Online Webcast, Internet

10/10/2014

ESC: Fall Town Hall 2014 - The Shift Change Continued

4

8:30 a - 12 p

$0

$250

140080

Salisbury University Commons Bldg., Salisbury

Accounting Systems for Government Contractors

8

8 a - 3:30 p

$295

$395

110038

Johns Hopkins University - Montgomery County Campus, Rockville

CAC: Fall Town Hall 2014 - The Shift Change Continued

4

8:30 a - 12 p

$0

$250

140081

Johns Hopkins University - Montgomery County Campus, Rockville

10/17/2014

Annual Update for Controllers

8

8 a - 3:30 p

$295

$395

111206A

MACPA Columbia Center, Columbia

10/20/2014

AACC: Fraud Examinations and Forensic Accounting

4

2p-6p

$40

$50

140073

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

10/21/2014

Incurred Cost Audits of Government Contractors & Subcontractors

8

8 a - 3:30 p

$295

$395

110043

Loyola University Maryland Graduate Ctr Columbia Campus, Columbia

10/23/2014

WEBINAR: Accounting for Revenue from Contracts with Customers

1

9 a - 10 a

$39

$39

17W0048

Online Webcast, Internet

10/24/2014

Compilation Review Update

4

12 p - 3:30 p

$150

$200

111207A

MACPA Columbia Center, Columbia

10/24/2014

Accounting and Auditing Update

4

8 a - 11:30 a

$150

$200

111208A

MACPA Columbia Center, Columbia

10/24/2014

WEBCAST: Engagement Letters - A First Line of Defense

1

12 p - 1 p

$39

$39

11W007

Online Webcast, Internet

10/28/2014

An Introduction to Government Contract Accounting Requirements: The Business Systems Rules, Issues, Considerations & Financial Audits

8

8 a - 3:30 p

$295

$395

110039

Mount Continuing Studies Center, Frederick

10/28/2014

WEBCAST: An Introduction to Government Contract Accounting Requirements: The Business Systems Rules, Issues, Considerations & Financial Audits

8

8 a - 3:30 p

$245

$245

17WL36

LIVE- ONLINE WEBCAST, INTERNET

10/30/2014

Common Fraud Risks

8

8 a - 3:30 p

$295

$395

111209A

MACPA Columbia Center, Columbia

11/3/2014

Accounting and Auditing Current Developments

8

8 a - 3:30 p

$220

$320

110028

Bowie Comfort Inn Hotel & Conference Center, Bowie

11/5/2014

WEBCAST: Accounting Systems for Government Contractors

8

8 a - 3:30 p

$245

$245

17WL35

LIVE- ONLINE WEBCAST, INTERNET

11/6/2014

AACC: Fall Town Hall 2014 - The Shift Change Continued

4

1 p - 4:30 p

$0

$250

140082

Anne Arundel Community College, Arnold

10/6/2014

10/16/2014

10/16/2014

52

STATEMENT

DATE

COURSE TITLE

CPE

TIME

MEMBER

NON-MEM.

EVENT ID

LOCATION

WEBINAR: Accounting for Revenue from Contracts with Customers

1

11 a - 12 p

$39

$39

17W0049

Online Webcast, Internet

CAC: Divorce Tax, Financial Planning, and the CPAs Role

4

1p-5p

$60

$70

140068

Johns Hopkins University - Montgomery County Campus, Rockville

11/13/2014

SMC: Fall Town Hall 2014 - The Shift Change Continued

4

8:30 a - 12 p

$0

$250

140083

Waldorf Jaycee Community Ctr, Waldorf

11/13/2014

SMC: Governmental Update

4

12 p - 5 p

$50

$75

140701

Waldorf Jaycee Community Ctr, Waldorf

11/19/2014

MMC: Fall Town Hall 2014 - The Shift Change Continued

4

8:30 a - 12 p

$0

$250

140084

Mount Continuing Studies Center, Frederick

11/19/2014

FALL ACCESS CPE - COLUMBIA: Revenue Recognition Overview & Implementation Issues - Ray Thompson

4

11:30 a - 3 p

$150

$200

1FALL23

Loyola University Maryland Graduate Ctr Columbia Campus, Columbia

11/20/2014

WEBINAR: Accounting for Revenue from Contracts with Customers

1

12 p - 1 p

$39

$39

17W0050

Online Webcast, Internet

11/20/2014

FALL ACCESS CPE - COLUMBIA: Hot Topics In Accounting and Financial Reporting - Ray Thompson

4

7:30 a - 11 a

$150

$200

1FALL26

Loyola University Maryland Graduate Ctr Columbia Campus, Columbia

11/20/2014

FALL ACCESS CPE - COLUMBIA: What’s New in Compilation & Review 2014 - Ray Thompson

4

11:30 a - 3 p

$150

$200

1FALL27

Loyola University Maryland Graduate Ctr Columbia Campus, Columbia

11/21/2014

Governmental and Not-for-Profit Annual Update

8

8 a - 3:30 p

$295

$395

111210A

The Loyola Graduate Center, Timonium

11/21/2014

WMC: Fall Town Hall 2014 - The Shift Change Continued

4

8:30 a - 12 p

$0

$250

140085

Penn Alps Restaurant & Craft Shop, Grantsville

CMC: Fall Town Hall 2014 - The Shift Change Continued

4

8:30 a - 12 p

$0

$250

140086

Sheppard Pratt Health Sys - Conf. Ctr (Conference Center), Towson

CMC: Fall Town Hall 2014 - The Shift Change Continued

4

8:30 a - 12 p

$0

$250

140087

Ten Oaks Ballroom & Conference Center, Clarksville

12/9/2014

Accounting and Reporting for Not-for-Profit Organizations

8

8 a - 3:30 p

$295

$395

111211A

The Loyola Graduate Center, Timonium

12/11/2014

Government Contractors and Indirect Cost Rates: Preparation and Surviving the Government Audit

8

8 a - 3:30 p

$295

$395

110040

Johns Hopkins University - Montgomery County Campus, Rockville

12/11/2014

WEBCAST: Government Contractors and Indirect Cost Rates: Preparation and Surviving the Government Audit

8

8 a - 3:30 p

$245

$245

17WL37

LIVE- ONLINE WEBCAST, INTERNET

12/12/2014

WEBINAR: Accounting for Revenue from Contracts with Customers

1

1p-2p

$39

$39

17W0051

Online Webcast, Internet

12/29/2014

Accounting and Auditing Current Developments

8

8 a - 3:30 p

$220

$320

110032

The Loyola Graduate Center, Timonium

AACC: Health Care Reform

4

2p-6p

$40

$50

140602

TBD, ......

Accounting and Auditing Current Developments

8

8 a - 3:30 p

$220

$320

110023

Loyola University Maryland Graduate Ctr Columbia Campus, Columbia

10/8/2014

WEBCAST: Starting Your Own CPA Firm

1

12 p - 12:45 p

$39

$39

11W013

Online Webcast, Internet

10/9/2014

Microsoft OneNote Digital Notetaking New Features Update and Tips

8

8 a - 3:30 p

$330

$480

130013

MACPA Columbia Center, Columbia

10/9/2014

WEBINAR: Accounting for Revenue from Contracts with Customers

1

2p-3p

$39

$39

17W0047

Online Webcast, Internet

10/16/2014

WEBCAST: Employee Motivation and Engagement: Driving Results Without Driving Your Team Crazy

3

9 a - 12 p

$105

$105

17W0031

Online Webcast, Internet

10/17/2014

Annual Update for Controllers

8

8 a - 3:30 p

$295

$395

111206A

MACPA Columbia Center, Columbia

10/17/2014

Insight into Financial Planning Strategies to Navigate Maryland’s Recent Legal and Tax Law Changes

4

8 a - 11:30 a

$95

$145

140078

Lakewood Country Club, Rockville

10/21/2014

Giraffes of Technology: The Making of the 21st Century Leader

4

8 a - 12 p

$150

$200

140075

MACPA Columbia Center, Columbia

11/6/2014 11/7/2014

11/24/2014

12/2/2014

2/9/2015

BUSI N E SS & I N D US T RY 10/6/2014

DATE

COURSE TITLE

CPE

TIME

MEMBER

NON-MEM.

EVENT ID

LOCATION

BUSINESS & INDUSTRY (CONT.) 10/22/2014

2014 PRACTITIONERS’ CONFERENCE

8

8 a - 4:30 p

$210

$310

121010

Martin’s West, Baltimore

10/23/2014

Microsoft Excel (2013); Outlook (2013); Word ( 2013); Adobe Acrobat and Windows 8 - Best Practices for CPAs

8

8 a - 3:30 p

$330

$480

130015

MACPA Columbia Center, Columbia

10/23/2014

WEBINAR: Accounting for Revenue from Contracts with Customers

1

9 a - 10 a

$39

$39

17W0048

Online Webcast, Internet

10/24/2014

Accounting and Auditing Update

4

8 a - 11:30 a

$150

$200

111208A

MACPA Columbia Center, Columbia

10/24/2014

WEBCAST: Engagement Letters - A First Line of Defense

1

12 p - 1 p

$39

$39

11W007

Online Webcast, Internet

10/27/2014

Budgeting, Forecasting, & Business Techniques for Accounting and Finance Professionals

8

8 a - 3:30 p

$330

$480

130016

The Loyola Graduate Center, Timonium

10/31/2014

Don Farmer’s 2014 Corporate/Business Income Tax Workshop

8

8:30 a - 4:30 p

$295

$395

111000

Martin’s West, Baltimore

11/3/2014

Accounting and Auditing Current Developments

8

8 a - 3:30 p

$220

$320

110028

Bowie Comfort Inn Hotel & Conference Center, Bowie

11/3/2014

ADVANCED TAX INSTITUTE -Day 1- Current Tax Issues & Business Tax Update- New Legislation, Cases, Regs, Rulings, Procedures, Notices & Announcements

8

8:30 a - 5 p

$285

$285

121002

Martin’s West, Baltimore

11/4/2014

ADVANCED TAX INSTITUTE - Day 2 - Estate Planning Issues

8

8:30 a - 5 p

$285

$285

121003

Martin’s West, Baltimore

11/5/2014

ADVANCED TAX INSTITUTE - Day 3 - State & Local Tax Issues

8

8:30 a - 5 p

$285

$285

121004

Martin’s West, Baltimore

11/6/2014

ADVANCED TAX INSTITUTE - Day 4- Real Estate and Partnerships

8

8:30 a - 5 p

$285

$285

121005

Martin’s West, Baltimore

11/6/2014

The Eight Hour MBA - Powerful Communication

8

8 a - 3:30 p

$295

$395

140076

MACPA Columbia Center, Columbia

11/6/2014

WEBINAR: Accounting for Revenue from Contracts with Customers

1

11 a - 12 p

$39

$39

17W0049

Online Webcast, Internet

11/12/2014

Excel Pivot Tables in-depth, Data Analysis Functions and Tips

8

8 a - 3:30 p

$330

$480

130017

MACPA Columbia Center, Columbia

11/12/2014

AUTHOR SERIES with Ron Shapiro -How to Negotiate and Perfect Your Pitch so Everyone Wins, Especially You!

4

9 a - 12:30 p

$195

$295

191013

Hilton Baltimore BWI Airport, Linthicum

11/12/2014

AUTHOR SERIES with Ron Shapiro -How to Negotiate and Perfect Your Pitch so Everyone Wins, Especially You!

4

9 a - 12:30 p

$195

$295

17W0041

Online Webcast, Internet

11/19/2014

FALL ACCESS CPE - COLUMBIA: Excel PowerPivot and PowerView for Advanced Data Analysis - Judy Borsher, CPA

4

11:30 a - 3 p

$150

$200

1FALL21

Loyola University Maryland Graduate Ctr Columbia Campus, Columbia

11/20/2014

Financial Leaders Forum: The Finance & Accounting Organization as Strategist and Partner to the Business

4

8 a - 12 p

$200

$250

171003

MACPA Columbia Center, Columbia

11/20/2014

WEBINAR: Accounting for Revenue from Contracts with Customers

1

12 p - 1 p

$39

$39

17W0050

Online Webcast, Internet

11/20/2014

FALL ACCESS CPE - COLUMBIA: Outlook Update and Best Practices for CPAs - Judy Borsher, CPA

4

11:30 a - 3 p

$150

$200

1FALL25

Loyola University Maryland Graduate Ctr Columbia Campus, Columbia

11/20/2014

FALL ACCESS CPE - COLUMBIA: What’s New in Compilation & Review 2014 - Ray Thompson

4

11:30 a - 3 p

$150

$200

1FALL27

Loyola University Maryland Graduate Ctr Columbia Campus, Columbia

11/25/2014

Excel Power User: Macro Programming using Visual Basic for Applications

8

8 a - 3:30 p

$330

$480

130023

MACPA Columbia Center, Columbia

12/1/2014

2014 MACPA A&A CONFERENCE- FASB & GASB Update A symposium of leaders, leading the way...

8

8a-5p

$245

$345

121014

Sheraton Columbia Hotel, Columbia

12/2/2014

Practitioner’s Guide to LLCs and S Corporations

8

8 a - 3:30 p

$295

$395

110033

Mount Continuing Studies Center, Frederick

12/2/2014

WEBCAST: Practitioner’s Guide to LLCs and S Corporations

8

8 a - 3:30 p

$245

$245

17WL25

LIVE- ONLINE WEBCAST, INTERNET

12/10/2014

Scary Trends, Ethics, and Uncommon Sense

4

1p-4p

$115

$215

140069

Inn at Perry Cabin, St. Michaels

12/11/2014

2014 TECHNOLOGY CONFERENCE

8

8 a - 4:40 p

$275

$375

121009

Hilton Baltimore BWI Airport, Linthicum

12/11/2014

Seven Secrets of Successful Business Communication

8

8 a - 3:30 p

$295

$395

140077

MACPA Columbia Center, Columbia

12/12/2014

Budgeting, Forecasting, & Business Techniques for Accounting and Finance Professionals

8

8 a - 3:30 p

$330

$480

130022

MACPA Columbia Center, Columbia

DATE

COURSE TITLE

CPE

TIME

MEMBER

NON-MEM.

EVENT ID

LOCATION Online Webcast, Internet

12/12/2014

WEBINAR: Accounting for Revenue from Contracts with Customers

1

1p-2p

$39

$39

17W0051

12/29/2014

Accounting and Auditing Current Developments

8

8 a - 3:30 p

$220

$320

110032

The Loyola Graduate Center, Timonium

1/5/2015

Budgeting, Forecasting, & Business Techniques for Accounting and Finance Professionals

8

8 a - 3:30 p

$330

$480

130024

The Loyola Graduate Center, Timonium

1/22/2015

Financial Leaders Forum: Why Don’t We Say Yes? 21st Century Negotiating

4

8 a - 12 p

$200

$250

171004

The Loyola Graduate Center, Timonium

ETHI C S 10/1/2014

BLI’s Ethics Update for CPAs in Business & Industry: 2013 Edition

4

8 a - 11:30 a

$150

$200

110021

The Loyola Graduate Center, Timonium

10/1/2014

WEBCAST: BLI’s Ethics Update for CPAs in Business & Industry: 2013 Edition

4

8 a - 11:30 a

$125

$125

17WL14

LIVE- ONLINE WEBCAST, INTERNET

11/19/2014

FALL ACCESS CPE - COLUMBIA: A Practical Ethics Update for CPAs: 2014 Edition - Ray Thompson

4

7:30 a - 11 a

$150

$200

1FALl22

Loyola University Maryland Graduate Ctr Columbia Campus, Columbia

12/10/2014

Scary Trends, Ethics, and Uncommon Sense

4

1p-4p

$115

$215

140069

Inn at Perry Cabin, St. Michaels

F INAN C I A L PL AN N I N G 10/6/2014

A Practitioners Guide to IRAs and Qualified Retirement Plans

8

8 a - 3:30 p

$295

$395

110024

MACPA Columbia Center, Columbia

10/6/2014

WEBCAST: A Practitioners Guide to IRAs and Qualified Retirement Plans

8

8 a - 3:30 p

$245

$245

17WL16

LIVE- ONLINE WEBCAST, INTERNET

10/24/2014

29th ANNUAL ADVANCED PERSONAL FINANCIAL PLANNING CONFERENCE

8

8 a - 4:30 p

$275

$375

121007

Martin’s West, Baltimore

11/4/2014

Asset Protection Strategies

8

8 a - 3:30 p

$295

$395

110029

MACPA Columbia Center, Columbia

11/4/2014

WEBCAST: Asset Protection Strategies

8

8 a - 3:30 p

$245

$245

17WL21

LIVE- ONLINE WEBCAST, INTERNET

11/24/2014

The Complete Guide to the Preparation of Form 1041

8

8 a - 3:30 p

$295

$395

110031

The Loyola Graduate Center, Timonium

11/24/2014

WEBCAST: The Complete Guide to the Preparation of Form 1041

8

8 a - 3:30 p

$245

$245

17WL24

LIVE- ONLINE WEBCAST, INTERNET

12/2/2014

Practitioner’s Guide to LLCs and S Corporations

8

8 a - 3:30 p

$295

$395

110033

Mount Continuing Studies Center, Frederick

12/2/2014

WEBCAST: Practitioner’s Guide to LLCs and S Corporations

8

8 a - 3:30 p

$245

$245

17WL25

LIVE- ONLINE WEBCAST, INTERNET

12/3/2014

Understanding the Basic Techniques of Financial Planning

8

8 a - 3:30 p

$295

$395

110034

The Loyola Graduate Center, Timonium

12/3/2014

WEBCAST: Understanding the Basic Techniques of Financial Planning

8

8 a - 3:30 p

$245

$245

17WL26

LIVE- ONLINE WEBCAST, INTERNET

1/15/2015

The Complete Guide to the Preparation of Form 1041

8

8 a - 3:30 p

$295

$395

110036

MACPA Columbia Center, Columbia

1/16/2015

The Complete Guide to Preparing Forms 706 and 709

8

8 a - 3:30 p

$295

$395

110037

MACPA Columbia Center, Columbia

2

8:30 a - 10:30 a

$50

$60

182061

MACPA Columbia Center, Columbia

Waldorf Jaycee Community Ctr, Waldorf

F R A U D & FOR E N S I C S 10/3/2014

FVS Speaker Series: ESOP 101 for CPAs

G O VER N M EN T AN D N O T- F O R - P RO F IT 11/13/2014

SMC: Governmental Update

4

12 p - 5 p

$50

$75

140701

11/21/2014

Governmental and Not-for-Profit Annual Update

8

8 a - 3:30 p

$295

$395

111210A

The Loyola Graduate Center, Timonium

12/9/2014

Accounting and Reporting for Not-for-Profit Organizations

8

8 a - 3:30 p

$295

$395

111211A

The Loyola Graduate Center, Timonium

DATE

COURSE TITLE

CPE

TIME

MEMBER

NON-MEM.

EVENT ID

LOCATION

G OV ER N M EN T C O N T R AC T O R S 10/21/2014

Incurred Cost Audits of Government Contractors & Subcontractors

8

8 a - 3:30 p

$295

$395

110043

Loyola University Maryland Graduate Ctr Columbia Campus, Columbia

MA N A G EM E N T & L E AD E R S H I P 10/3/2014

FVS Speaker Series: ESOP 101 for CPAs

2

8:30 a - 10:30 a

$50

$60

182061

MACPA Columbia Center, Columbia

10/8/2014

WEBCAST: Starting Your Own CPA Firm

1

12 p - 12 p

$39

$39

11W013

Online Webcast, Internet

10/10/2014

ESC: Fall Town Hall 2014 - The Shift Change Continued

4

8:30 a - 12 p

$0

$250

140080

Salisbury University Commons Bldg., Salisbury

CAC: Fall Town Hall 2014 - The Shift Change Continued

4

8:30 a - 12 p

$0

$250

140081

Johns Hopkins University - Montgomery County Campus, Rockville

10/16/2014

WEBCAST: Employee Motivation and Engagement: Driving Results Without Driving Your Team Crazy

3

9 a - 12 p

$105

$105

17W0031

Online Webcast, Internet

10/21/2014

Giraffes of Technology: The Making of the 21st Century Leader

4

8 a - 12 p

$150

$200

140075

MACPA Columbia Center, Columbia

10/24/2014

29th ANNUAL ADVANCED PERSONAL FINANCIAL PLANNING CONFERENCE

8

8 a - 4:30 p

$275

$375

121007

Martin’s West, Baltimore

10/27/2014

Budgeting, Forecasting, & Business Techniques for Accounting and Finance Professionals

8

8 a - 3:30 p

$330

$480

130016

The Loyola Graduate Center, Timonium

11/6/2014

The Eight Hour MBA - Powerful Communication

8

8 a - 3:30 p

$295

$395

140076

MACPA Columbia Center, Columbia

11/6/2014

AACC: Fall Town Hall 2014 - The Shift Change Continued

4

1 p - 4:30 p

$0

$250

140082

Anne Arundel Community College, Arnold

11/10/2014

Exploring Communication Styles of Women: Strengthening the Female Voice in Accounting

2

4p-6p

$75

$75

191017

BWI Airport Marriott, Baltimore

11/11/2014

Maximizing the Value of Your Practice: A Primer to Enhance Your Appeal for a Merger or Confirm Your Independence

4

8 a - 11:30 a

$95

$145

140079

The Loyola Graduate Center, Timonium

11/13/2014

SMC: Fall Town Hall 2014 - The Shift Change Continued

4

8:30 a - 12 p

$0

$250

140083

Waldorf Jaycee Community Ctr, Waldorf

11/19/2014

MMC: Fall Town Hall 2014 - The Shift Change Continued

4

8:30 a - 12 p

$0

$250

140084

Mount Continuing Studies Center, Frederick

11/20/2014

Financial Leaders Forum: The Finance & Accounting Organization as Strategist and Partner to the Business

4

8 a - 12 p

$200

$250

171003

MACPA Columbia Center, Columbia

11/21/2014

WMC: Fall Town Hall 2014 - The Shift Change Continued

4

8:30 a - 12 p

$0

$250

140085

Penn Alps Restaurant & Craft Shop, Grantsville

CMC: Fall Town Hall 2014 - The Shift Change Continued

4

8:30 a - 12 p

$0

$250

140086

Sheppard Pratt Health Sys - Conf. Ctr (Conference Center), Towson

2014 MACPA A&A CONFERENCE- FASB & GASB Update A symposium of leaders, leading the way...

8

8a-5p

$245

$345

121014

Sheraton Columbia Hotel, Columbia

CMC: Fall Town Hall 2014 - The Shift Change Continued

4

8:30 a - 12 p

$0

$250

140087

Ten Oaks Ballroom & Conference Center, Clarksville

12/11/2014

Seven Secrets of Successful Business Communication

8

8 a - 3:30 p

$295

$395

140077

MACPA Columbia Center, Columbia

12/12/2014

Budgeting, Forecasting, & Business Techniques for Accounting and Finance Professionals

8

8 a - 3:30 p

$330

$480

130022

MACPA Columbia Center, Columbia

12/22/2014

Choice of Business Entity

8

8 a - 3:30 p

$295

$395

110035

The Loyola Graduate Center, Timonium

12/22/2014

WEBCAST: Choice of Business Entity

8

8 a - 3:30 p

$245

$245

17WL29

LIVE- ONLINE WEBCAST, INTERNET

1/5/2015

Budgeting, Forecasting, & Business Techniques for Accounting and Finance Professionals

8

8 a - 3:30 p

$330

$480

130024

The Loyola Graduate Center, Timonium

1/22/2015

Financial Leaders Forum: Why Don’t We Say Yes? 21st Century Negotiating

4

8 a - 12 p

$200

$250

171004

The Loyola Graduate Center, Timonium

10/16/2014

11/24/2014

12/1/2014 12/2/2014

56

STATEMENT

CFOs, CEOs, & CONTROLLERS WHO ROCK. Financial Leaders Forum 2014-2015 SERIES

It’s not just about keeping score or tracking money. You are setting corporate strategy.

Business plans. Marketing. Real estate.

HR. Legal. IT. It’s on your shoulders. The Financial Leaders Forum is for you.

11/20/14 The Finance & Accounting Organization as Strategist & Partner to the Business” (Presented by Alan Patterson)

1/22/15 3/26/15 5/28/15

“Why Don’t We Say Yes? 21st Century Negotiating”

(Presented by Greg Conderacci)

“The C-Suite: 10 Powerful Tools for Getting There and Staying There!” (Presented by Jennifer Elder, CPA) “Lean Management in a Lean Economy”

(Presented by Frank Ryan, CPA)

MACPA.ORG/FORUM STRATEGIC LEARNING POWERED BY

P O W E R E D B Y:

DATE

COURSE TITLE

CPE

TIME

MEMBER

NON-MEM.

EVENT ID

LOCATION

SPEC I A L I ZE D K N O WL E D G E & OTHER EV ENTS 10/2/2014

SMC: Quarterly Mentoring Program Mixer

0

5:30 p - 7:30 p

$0

$0

140700

Grille No. 13, Waldorf

10/3/2014

FVS Speaker Series: ESOP 101 for CPAs

2

8:30 a - 10:30 a

$50

$60

182061

MACPA Columbia Center, Columbia

10/10/2014

ESC: Fall Town Hall 2014 - The Shift Change Continued

4

8:30 a - 12 p

$0

$250

140080

Salisbury University Commons Bldg., Salisbury

10/15/2014

The Shift Change For Students: Preparing for the Future of the CPA Profession

0

02 p - 5 p

$0

$0

191003

Bowie State University, Bowie

CAC: Fall Town Hall 2014 - The Shift Change Continued

4

8:30 a - 12 p

$0

$250

140081

Johns Hopkins University - Montgomery County Campus, Rockville

10/17/2014

Insight into Financial Planning Strategies to Navigate Maryland’s Recent Legal and Tax Law Changes

4

8 a - 11:30 a

$95

$145

140078

Lakewood Country Club, Rockville

10/24/2014

29th ANNUAL ADVANCED PERSONAL FINANCIAL PLANNING CONFERENCE

8

8 a - 4:30 p

$275

$375

121007

Martin’s West, Baltimore

11/6/2014

AACC: Fall Town Hall 2014 - The Shift Change Continued

4

1 p - 4:30 p

$0

$250

140082

Anne Arundel Community College, Arnold

11/10/2014

Newly Licensed CPA Swearing In Ceremony & Reception

0

6:30 p - 9:30 p

$25

$25

191030

Hilton Baltimore BWI Airport, Linthicum

11/12/2014

WEBCAST: How to Negotiate and Perfect Your Pitch so Everyone Wins - Especially You! - Author Series with Ron Shapiro

3

9 a - 12 p

$195

$295

17W0041

11/12/2014

AUTHOR SERIES with Ron Shapiro -How to Negotiate and Perfect Your Pitch so Everyone Wins, Especially You!

4

9 a - 12:30 p

$195

$295

191013

Hilton Baltimore BWI Airport, Linthicum

11/13/2014

SMC: Fall Town Hall 2014 - The Shift Change Continued

4

8:30 a - 12 p

$0

$250

140083

Waldorf Jaycee Community Ctr, Waldorf

11/19/2014

MMC: Fall Town Hall 2014 - The Shift Change Continued

4

8:30 a - 12 p

$0

$250

140084

Mount Continuing Studies Center, Frederick

11/21/2014

WMC: Fall Town Hall 2014 - The Shift Change Continued

4

8:30 a - 12 p

$0

$250

140085

Penn Alps Restaurant & Craft Shop, Grantsville

CMC: Fall Town Hall 2014 - The Shift Change Continued

4

8:30 a - 12 p

$0

$250

140086

Sheppard Pratt Health Sys - Conf. Ctr (Conference Center), Towson

CMC: Fall Town Hall 2014 - The Shift Change Continued

4

8:30 a - 12 p

$0

$250

140087

Ten Oaks Ballroom & Conference Center, Clarksville

1/9/2015

Webcast: The Anticipatory CPA - The BLI Author Series with Dan Burrus

3

9 a - 12 p

$0

$0

17W707

Online Webcast, Internet

1/9/2015

2015 ACCOUNTING EDUCATORS CONFERENCE

8

8:30 a - 4:30 p

$120

$220

121001

Sheraton Columbia Hotel, Columbia

1/9/2015

The Anticipatory CPA - The BLI Author Series with Dan Burrus

4

9 a - 12:30 p

$0

$0

191014

Hilton Baltimore BWI Airport, Linthicum

1/29/2015

CPA DAY

2

7:30 a - 1:30 p

$0

$0

181000

Governor Calvert House, Annapolis

10/6/2014

A Practitioners Guide to IRAs and Qualified Retirement Plans

8

8 a - 3:30 p

$295

$395

110024

MACPA Columbia Center, Columbia

10/6/2014

WEBCAST: A Practitioners Guide to IRAs and Qualified Retirement Plans

8

8 a - 3:30 p

$245

$245

17WL16

LIVE- ONLINE WEBCAST, INTERNET

10/7/2014

Estate Planning for 2014 and Beyond

8

8 a - 3:30 p

$295

$395

110025

The Loyola Graduate Center, Timonium

10/7/2014

WEBCAST: Estate Planning for 2014 and Beyond

8

8 a - 3:30 p

$245

$245

17WL17

LIVE- ONLINE WEBCAST, INTERNET

10/17/2014

The Best Estate and Financial Planning Topics of 2014

8

8 a - 3:30 p

$295

$395

110026

The Loyola Graduate Center, Timonium

10/17/2014

Insight into Financial Planning Strategies to Navigate Maryland’s Recent Legal and Tax Law Changes

4

8 a - 11:30 a

$95

$145

140078

Lakewood Country Club, Rockville

10/17/2014

WEBCAST: The Best Estate and Financial Planning Topics of 2014

8

8 a - 3:30 p

$245

$245

17WL18

LIVE- ONLINE WEBCAST, INTERNET

10/16/2014

11/24/2014

12/2/2014

Online Webcast, Internet

TAX

58

STATEMENT

DATE

COURSE TITLE

CPE

TIME

MEMBER

NON-MEM.

EVENT ID

LOCATION

TAX (CONT.) 10/22/2014

Ultimate Tax Research Course

8

8 a - 3:30 p

$295

$395

110027

The Loyola Graduate Center, Timonium

10/22/2014

2014 PRACTITIONERS’ CONFERENCE

8

8 a - 4:30 p

$210

$310

121010

Martin’s West, Baltimore

10/22/2014

WEBCAST: Ultimate Tax Research Course

8

8 a - 3:30 p

$245

$245

17WL19

LIVE- ONLINE WEBCAST, INTERNET

10/24/2014

29th ANNUAL ADVANCED PERSONAL FINANCIAL PLANNING CONFERENCE

8

8 a - 4:30 p

$275

$375

121007

Martin’s West, Baltimore

10/31/2014

Don Farmer’s 2014 Corporate/Business Income Tax Workshop

8

8:30 a - 4:30 p

$295

$395

111000

Martin’s West, Baltimore

10/31/2014

WEBCAST: Don Farmer’s Corporate/Business Income Tax Workshop

8

8:30 a - 4:30 p

$245

$245

17WL20

LIVE- ONLINE WEBCAST, INTERNET

11/3/2014

ADVANCED TAX INSTITUTE -Day 1- Current Tax Issues & Business Tax Update- New Legislation, Cases, Regs, Rulings, Procedures, Notices & Announcements

8

8:30 a - 5 p

$285

$285

121002

Martin’s West, Baltimore

11/4/2014

Asset Protection Strategies

8

8 a - 3:30 p

$295

$395

110029

MACPA Columbia Center, Columbia

11/4/2014

ADVANCED TAX INSTITUTE - Day 2 - Estate Planning Issues

8

8:30 a - 5 p

$285

$285

121003

Martin’s West, Baltimore

11/4/2014

WEBCAST: Asset Protection Strategies

8

8 a - 3:30 p

$245

$245

17WL21

LIVE- ONLINE WEBCAST, INTERNET

11/5/2014

ADVANCED TAX INSTITUTE - Day 3 - State & Local Tax Issues

8

8:30 a - 5 p

$285

$285

121004

Martin’s West, Baltimore

11/6/2014

ADVANCED TAX INSTITUTE - Day 4- Real Estate and Partnerships

8

8:30 a - 5 p

$285

$285

121005

Martin’s West, Baltimore

CAC: Divorce Tax, Financial Planning, and the CPAs Role

4

1p-5p

$60

$70

140068

Johns Hopkins University - Montgomery County Campus, Rockville

11/13/2014

WEBCAST: Don Farmer’s Individual Income Tax Workshop

16

8:30 a - 4:30 p

$490

$490

17WL22

LIVE- ONLINE WEBCAST, INTERNET

11/13/2014

Don Farmer’s 2014 Individual Income Tax Workshop

16

8:30 a - 4:30 p

$590

$690

211000

Martin’s West, Baltimore

11/21/2014

A Practical Guide to Trusts

8

8 a - 3:30 p

$295

$395

110030

The Loyola Graduate Center, Timonium

11/21/2014

WMC: Fall Town Hall 2014 - The Shift Change Continued

4

8:30 a - 12 p

$0

$250

140085

Penn Alps Restaurant & Craft Shop, Grantsville

11/21/2014

WEBCAST: A Practical Guide to Trusts

8

8 a - 3:30 p

$245

$245

17WL23

LIVE- ONLINE WEBCAST, INTERNET

11/24/2014

The Complete Guide to the Preparation of Form 1041

8

8 a - 3:30 p

$295

$395

110031

The Loyola Graduate Center, Timonium

11/24/2014

WEBCAST: The Complete Guide to the Preparation of Form 1041

8

8 a - 3:30 p

$245

$245

17WL24

LIVE- ONLINE WEBCAST, INTERNET

12/2/2014

Practitioner’s Guide to LLCs and S Corporations

8

8 a - 3:30 p

$295

$395

110033

Mount Continuing Studies Center, Frederick

12/2/2014

WEBCAST: Practitioner’s Guide to LLCs and S Corporations

8

8 a - 3:30 p

$245

$245

17WL25

LIVE- ONLINE WEBCAST, INTERNET

12/3/2014

Understanding the Basic Techniques of Financial Planning

8

8 a - 3:30 p

$295

$395

110034

The Loyola Graduate Center, Timonium

12/3/2014

WEBCAST: Understanding the Basic Techniques of Financial Planning

8

8 a - 3:30 p

$245

$245

17WL26

LIVE- ONLINE WEBCAST, INTERNET

12/5/2014

Don Farmer’s 2014 Federal Tax Update

8

8:30 a - 4:30 p

$295

$395

111001

Martin’s West, Baltimore

12/5/2014

WEBCAST: Don Farmer’s 2014 Federal Tax Update

8

8:30 a - 4:30 p

$245

$245

17WL27

LIVE- ONLINE WEBCAST, INTERNET

12/8/2014

AACC: IRS Federal Tax Update PM Session

4

2p-6p

$50

$60

140600

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

12/8/2014

AACC: IRS Federal Tax Update AM Session

4

8 a - 12 p

$50

$60

140603

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

CAC: Federal Tax Update

4

8 a - 12 p

$60

$70

140500

Johns Hopkins University - Montgomery County Campus, Rockville

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

16

8a-4p

$350

$450

211001

The Loyola Graduate Center, Timonium

11/7/2014

12/12/2014

12/18/2014

DATE

COURSE TITLE

CPE

TIME

MEMBER

NON-MEM.

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

16

8a-4p

$350

$450

211002

Loyola University Maryland Graduate Ctr Columbia Campus, Columbia

CAC: State Tax Update

4

8 a - 12 p

$60

$70

140501

Johns Hopkins University - Montgomery County Campus, Rockville

1/12/2015

AACC: Multi-State Tax Update

4

2p-6p

$40

$50

140601

TBD, ......

1/15/2015

The Complete Guide to the Preparation of Form 1041

8

8 a - 3:30 p

$295

$395

110036

MACPA Columbia Center, Columbia

1/16/2015

The Complete Guide to Preparing Forms 706 and 709

8

8 a - 3:30 p

$295

$395

110037

MACPA Columbia Center, Columbia

1/29/2015

CPA DAY

2

7:30 a - 1:30 p

$0

$0

181000

Governor Calvert House, Annapolis

1/8/2015

1/9/2015

EVENT ID

LOCATION

TEC HN OL OG Y 10/7/2014

PowerPoint: Create Dynamic Financial Presentations with Business Graphics

8

8 a - 3:30 p

$330

$480

130012

MACPA Columbia Center, Columbia

10/9/2014

Microsoft OneNote Digital Notetaking New Features Update and Tips

8

8 a - 3:30 p

$330

$480

130013

MACPA Columbia Center, Columbia

10/10/2014

ESC: Fall Town Hall 2014 - The Shift Change Continued

4

8:30 a - 12 p

$0

$250

140080

Salisbury University Commons Bldg., Salisbury

10/14/2014

Internal Control Procedures for QuickBooks Users

6

8:30 a - 1:30 p

$300

$400

130034

MACPA Columbia Center, Columbia

CAC: Fall Town Hall 2014 - The Shift Change Continued

4

8:30 a - 12 p

$0

$250

140081

Johns Hopkins University - Montgomery County Campus, Rockville

10/22/2014

Excel Advanced Features, Functions, Pivot Tables and the Macro Recorder

8

8 a - 3:30 p

$330

$480

130014

MACPA Columbia Center, Columbia

10/23/2014

Microsoft Excel (2013); Outlook (2013); Word ( 2013); Adobe Acrobat and Windows 8 - Best Practices for CPAs

8

8 a - 3:30 p

$330

$480

130015

MACPA Columbia Center, Columbia

10/27/2014

Budgeting, Forecasting, & Business Techniques for Accounting and Finance Professionals

8

8 a - 3:30 p

$330

$480

130016

The Loyola Graduate Center, Timonium

11/6/2014

AACC: Fall Town Hall 2014 - The Shift Change Continued

4

1 p - 4:30 p

$0

$250

140082

Anne Arundel Community College, Arnold

11/12/2014

Excel Pivot Tables in-depth, Data Analysis Functions and Tips

8

8 a - 3:30 p

$330

$480

130017

MACPA Columbia Center, Columbia

11/13/2014

SMC: Fall Town Hall 2014 - The Shift Change Continued

4

8:30 a - 12 p

$0

$250

140083

Waldorf Jaycee Community Ctr, Waldorf

11/14/2014

Adobe Acrobat: Best Features, Forms and Tips for Accountants

8

8 a - 3:30 p

$330

$480

130018

MACPA Columbia Center, Columbia

11/19/2014

MMC: Fall Town Hall 2014 - The Shift Change Continued

4

8:30 a - 12 p

$0

$250

140084

Mount Continuing Studies Center, Frederick

11/19/2014

FALL ACCESS CPE - COLUMBIA: Excel Hot Topics and Best Practices for CPAs - Judy Borsher, CPA

4

7:30 a - 11 a

$150

$200

1FALL20

Loyola University Maryland Graduate Ctr Columbia Campus, Columbia

11/19/2014

FALL ACCESS CPE - COLUMBIA: Excel PowerPivot and PowerView for Advanced Data Analysis - Judy Borsher, CPA

4

11:30 a - 3 p

$150

$200

1FALL21

Loyola University Maryland Graduate Ctr Columbia Campus, Columbia

11/20/2014

FALL ACCESS CPE - COLUMBIA: Privacy & Security Considerations - Microsoft Office files, PDFs, Cyber Security Tips for CPAs - Judy Borsher, CPA

4

7:30 a - 11 a

$150

$200

1FALL24

Loyola University Maryland Graduate Ctr Columbia Campus, Columbia

11/20/2014

FALL ACCESS CPE - COLUMBIA: Outlook Update and Best Practices for CPAs - Judy Borsher, CPA

4

11:30 a - 3 p

$150

$200

1FALL25

Loyola University Maryland Graduate Ctr Columbia Campus, Columbia

11/21/2014

WMC: Fall Town Hall 2014 - The Shift Change Continued

4

8:30 a - 12 p

$0

$250

140085

Penn Alps Restaurant & Craft Shop, Grantsville

CMC: Fall Town Hall 2014 - The Shift Change Continued

4

8:30 a - 12 p

$0

$250

140086

Sheppard Pratt Health Sys - Conf. Ctr (Conference Center), Towson

Excel Power User: Macro Programming using Visual Basic for Applications

8

8 a - 3:30 p

$330

$480

130023

MACPA Columbia Center, Columbia

10/16/2014

11/24/2014

11/25/2014

60

STATEMENT

DATE

COURSE TITLE

CPE

TIME

MEMBER

NON-MEM.

EVENT ID

LOCATION

CMC: Fall Town Hall 2014 - The Shift Change Continued

4

8:30 a - 12 p

$0

$250

140087

Ten Oaks Ballroom & Conference Center, Clarksville

12/3/2014

Advanced Techniques for QuickBooks Users

4

8 a - 11:30 a

$240

$290

130019

MACPA Columbia Center, Columbia

12/9/2014

Microsoft Office 2013: Focus on New Features with emphasis on Excel 2013

8

8 a - 3:30 p

$330

$480

130020

MACPA Columbia Center, Columbia

12/10/2014

Excel Data Analysis Techniques and Business Graphics

8

8 a - 3:30 p

$330

$480

130021

MACPA Columbia Center, Columbia

12/11/2014

2014 TECHNOLOGY CONFERENCE

8

8 a - 4:40 p

$275

$375

121009

Hilton Baltimore BWI Airport, Linthicum

12/12/2014

Budgeting, Forecasting, & Business Techniques for Accounting and Finance Professionals

8

8 a - 3:30 p

$330

$480

130022

MACPA Columbia Center, Columbia

1/5/2015

Budgeting, Forecasting, & Business Techniques for Accounting and Finance Professionals

8

8 a - 3:30 p

$330

$480

130024

The Loyola Graduate Center, Timonium

1/20/2015

QuickBooks 2013 Comprehensive Training

16

8 a - 3:30 p

$660

$810

130036

MACPA Columbia Center, Columbia

12/2/2014

WIN

TO ENTER: Put your

BUSINESS CARD

or

in the

JAR at the WINDOWS 8 PRO

MICROSOFT OFFICE 2013 PRO

REGISTR REGISTRATION TABLE.

A copy of Windows 8 Pro or Microsoft Office 2013 Pro given away at every MACPA featured event.

BROUGHT TO YOU BY

OCTOBER 2014

61

MARYLAND ASSOCIATION OF CERTIFIED PUBLIC ACCOUNTANTS Dulaney Center II | 901 Dulaney Valley Road, Suite 800 Towson, MD 21204 | www.macpa.org 410. 296.6250 | Fax: 410.296.8713

Promoting and Protecting CPAs in Maryland

Bring your voice to Annapolis on January 29th

2015 macpa.org/cpaday

January 29 | Governor Calvert House | Event ID: 181000