MACPA Statement // January 2015

STATEMENT January 2015 | Maryland Association of Certified Public Accountants, Inc.

NEW REVENUE RECOGNITION STANDARD: BUILD YOUR IMPLEMENTATION PLAN NOW PAGE 9

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CONTENTS January 2015 | Maryland Association of Certified Public Accountants, Inc.

CHAIRâ&#x20AC;&#x2122;S COLUMN . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 FEATURES New revenue recognition standard: Build your implementation plan now . . . . . . . . . . . 9

DEPARTMENTS News & Views . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 Tax Corner . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21 Accounting & Auditing . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33 High-Tech Solutions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 38 Member Services. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . . 46 NYPN. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . 47

MEMBER NOTES . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 43 CLASSIFIEDS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 48 UPCOMING EVENTS & COURSES. . . . . . . . . . . . . . . . . . . . . . . . . . . . 50

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

PRODUCT DEVELOPMENT

Terri Smith terri@macpa.org

Akesha Brown akesha@macpa.org

Dee Sullivan dee@macpa.org

Debbie Zizwarek debbie@macpa.org

Emily Trott emily@macpa.org

TECHNICAL SERVICES

Ryan Wey ryan@macpa.org

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

2014-2015 BOARD OF DIRECTORS OFFICERS

PROFESSIONAL DEVELOPMENT

Marianela del Pino-Rivera, CPA Chair

Pamela C. Devine pam@macpa.org

Michael Manspeaker, CPA Vice Chair

Chris Dougherty chrisd@macpa.org

Lisa Cines, CPA Secretary/Treasurer

MEMBER SERVICES

Andrew Hood andrew@macpa.org

Lauren Baker lauren@macpa.org

Donna Lewis donna@macpa.org

Byron Patrick, CPA, CITP, MCSE Immediate Past Chair

Rebekah Brown rebekah@macpa.org

Paige Sawicki paige@macpa.org

Michael Drankiewicz, CPA

Laura Dorsey-Shaner laura@macpa.org

Virginia Jackson, CPA

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

JANUARY 2015

DIRECTORS Laura Freitag, CPA

Carl Kampel, CPA Amy Myers, CPA

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

Gene Ransom III, Esq. Sean Roddy, CPA, CMA, CGMA, MBA Richard L. Wolf, CPA, CFE, CGMA

SENIOR STAFF MACPA EXECUTIVE DIRECTOR J. Thomas Hood III, CPA tom@macpa.org

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

MACPA HONORS TOP WOMEN IN THE PROFESSION

Some of the profession’s leading women took center stage at the MACPA’s inaugural Women To Watch Awards on Sept. 23. Winners were honored in two categories — Emerging Leaders and Experienced Leaders. Pictured from left are Lexy Kessler, a partner at Aronson and Experienced Leaders winner; AICPA Chair-elect Tommye Barie, who attended at spoke at the event; Aileen Eskildsen, director at Ellin & Tucker and Emerging Leaders winner; MACPA Chair Marianela del Pino-Rivera; Tammy Schneider, principal at Glass Jacobson and Experienced Leaders winner; and Elise Brouillette, data assurance manager at PwC and Emerging Leaders winner. The event was also supported by the AICPA and its national Women To Watch program. Read more about the event at MACPA.org/Women.

Promoting and Protecting CPAs in Maryland

Bring your voice to Annapolis on January 29th

2015

January 29 | Governor Calvert House | Event ID: 181000

macpa.org/cpaday

CHAIR’S COLUMN TAX TROUBLES, ANNAPOLIS TURNOVER DEMAND CPAS’ ATTENTION BY MARIANELA DEL PINO-RIVERA, CPA, CHAIR

BRACE YOURSELVES, CPAS. THIS TAX SEASON IS SHAPING UP TO BE A ROUGH ONE. A series of recent articles in the trade publications have listed a number of possible headaches this year. It is an impressive list: • The IRS’s budget is woefully inadequate. Since 2010, the agency has lost 13,000 full-time employees and 7 percent from its operating budget while trying to serve an additional 7 million taxpayers. The numbers don’t add up. “The problem is trying to figure out how to survive with the constraints we are under and the obligations we have,” IRS Commissioner John Koskinen told the Journal of Accountancy. • Koskinen estimated that 47 percent of taxpayer phone calls to the IRS might go unanswered in 2015, up a stunning 18 percent from 2014. • At press time, the fate of more than 50 tax extender laws was uncertain. Lame-duck lawmakers in Congress had vowed to address the extenders before the end of the year, but any further delays could push back the start of tax season and leave taxpayers waiting longer than usual for their refunds to arrive. • The tax provisions in laws like the Affordable Care Act and the Foreign Account Tax Compliance Act (or FATCA) are making life miserable for IRS officials. “For example,” Forbes reporter Ashlea Ebeling writes, “Koskinen said the IRS requested $430 million in 2014 from Congress to implement the ACA but got zero, forcing it to take money out of enforcement and taxpayer services budgets.” More and more, it seems CPAs are expected to be de facto enforcement agents for the IRS. • We are verifying health insurance

and coverage related to the ACA. • We need to verify appropriate documentation for any donation of at least $250. • Due diligence requirements for the Earned Income Tax Credit are becoming increasingly onerous, as are repair and maintenance de minimus policies. Thankfully, we have access to a number of resources that can help. Topping the list is the MACPA’s own federal and state tax listservs. These invaluable tools are cited by some tax preparers as the benefit they value most from their MACPA membership. Throughout tax season, members ask questions and provide answers to a community that’s designed to do one thing: connect tax pros to the resources and information they need to do their jobs. Preparers will also find valuable taxseason resources in the MACPA’s various social networks, in its weekly all-member e-newsletter, and at its popular 1040 Fast Track program on Jan. 8-9. Details about these resources — and about the AICPA’s terrific Tax Practitioner’s Toolkit — can be found on Page 21. As always, the MACPA is working with the rest of the profession to make sure the voices of CPAs are heard in Annapolis, in Congress, and at the IRS. We’re successful more often than not, but this year will bear watching especially closely.

CPA DAY: MORE IMPORTANT THAN EVER Speaking of politics, you won’t want to miss the 2015 edition of CPA Day in Annapolis, scheduled for Jan. 29. With a new governor ready to take office and sizable turnover in the General Assembly, it’s more important than ever that CPAs introduce themselves to lawmakers and start educating them

about the issues that impact Maryland businesses and taxpayers. This year, those issues will include: Sales tax on services It’s always possible that the General Assembly could revisit the idea of imposing sales taxes on professional services as a way to raise revenue. The MACPA believes a sales tax on services would burden the citizens and businesses of Maryland unnecessarily with additional taxes. Tort reform / contributory negligence The MACPA will work in support of Maryland’s contributory negligence rule for a number of reasons. It prevents a flood of suits by plaintiffs who have a disproportionate amount of fault, helps keep a lid on insurance premium growth rates, and fosters the exercise of due care by everyone. On the flip side, the higher cost of conducting business and the decreased productivity associated with the “comparative negligence” alternative would lead to a loss of jobs, increased liability and a deterioration of the economic climate in Maryland. We also plan to support a revision to the definition of “attest” (due to a technical change to the SSAEs) and the Maryland Tort Reform Coalition’s effort to establish a limit on the size of appeal bonds that defendants must post in order to prevent the collection of an adverse judgment while the case is on appeal. The real value of CPA Day comes in building relationships with your legislators and spending a productive day with your fellow CPAs. Those connections can pay off many times over when harmful legislation is introduced. You’ll find details and registration information about CPA Day at MACPA. org/CPADay. I look forward to seeing you there!

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NEW REVENUE RECOGNITION STANDARD: BUILD YOUR IMPLEMENTATION PLAN NOW BY KIM KUSHMERICK

The Financial Accounting Standards Board’s new revenue recognition standard presents the most significant accounting change many veteran CPAs have seen. The standard touches every entity (public and private, including not-for-profit entities) that reports under U.S. GAAP and will require CPAs to re-examine the underlying economics of large numbers of established business practices. The new standard applies to most transactions and contracts with customers, except for leases, insurance contracts, most financial instruments, and guarantees (other than product or service warranties). At first glance, the implementation period for Accounting Standards Update (ASU) No. 2014-09, “Revenue from Contracts with Customers,” might seem adequate, if not generous. Public companies, for whom early adoption is not permitted, are required to adopt the standard in 2017 (for reporting periods beginning after Dec. 15, 2016). Private companies get an additional year (starting with 2018 for their annual reports) and two more JANUARY 2015

years, beginning in 2019, to start applying the standard to interim reports. Private companies may choose to adopt the standard on the public company schedule. After further study, however, many organizations may find the implementation period to be extremely aggressive and the task daunting. There are many components to be analyzed and many questions to be answered: • How will the standard affect operational and performance metrics? • What IT changes will be needed? • How will you retrospectively adopt the standard? If a public company chooses full retrospective adoption, revenue and the direct effects of change in accounting principle to all contracts must be restated for 2015 and 2016 to show comparative financial statements with a cumulative adjustment as of Jan. 1, 2015. CPAs are encouraged to advise clients and employers to begin developing an implementation plan as soon as possible. The AICPA has organized a major effort, including industry work groups, training, and organizational tools to assist CPAs with this monumental implementation. CPAs can use the following key tasks

based on the AICPA’s New Revenue Recognition Accounting Standard: Learning and Implementation Plan (MACPA.org/Revenue) as a high-level road map to begin organizing your organization’s implementation.

TASK 1: FORM A TASK FORCE (2014-15) Don’t wait to get all of the major players involved. The standard replaces most transaction- and industry-specific guidance with a principle-based approach, making it difficult – if not impossible – for CPAs to estimate the implementation effort required in a specific organization without first conducting a detailed assessment to use in developing a work plan. In all but the very smallest private companies, this assessment will require substantial collaboration with most major business functions, including sales and marketing, IT, legal, and human resources.

TASK 2: EVALUATE THE IMPACT (2014-16) Evaluate the changes from current GAAP to the new revenue recognition standard and evaluate the impact on how your company accounts for existing revenue streams and the results to your company’s financial statements. In addition, evaluate how the standard will affect operational and performance metrics, company contracts, compensation plans, accounting policies, internal controls, and tax matters. Work with your auditor to ensure that your approach to implementing the new revenue recognition standard and any changes in accounting for revenue recognition are documented completely and accurately.

TASK 3: CHOOSE HOW TO RETROSPECTIVELY ADOPT (2014) The standard should be applied using one of the following two methods: Retrospectively to each prior reporting period presented, and the entity may elect any of the following practical expedients: • For completed contracts, an entity

CONTINUED ON PAGE 10

need not restate contracts that begin and end within the same annual reporting period. • For completed contracts that have variable consideration, an entity may use the transaction price at the date the contract was completed rather than estimating variable consideration amounts in the comparative reporting periods. • For reporting periods presented before the date of initial application, an entity need not disclose the amount of the transaction price allocated to remaining performance obligations and an explanation of when the entity expects to recognize that amount as revenue. Retrospectively with the cumulative effect of initially applying the standard recognized at the date of initial application. If an entity elects this transition method, it also should provide the additional disclosures in reporting periods that include the date of initial application of the following items: • The amount by which each financial statement line item is affected in the current reporting period by the application of the standard as compared to the guidance that was in effect before the change. • An explanation of the reasons for significant change. In September, the Securities and Exchange Commission (MACPA. org/SECrevenue) determined that companies electing full retrospective adoption will only be required to apply the new standard for three years rather than the expected five years.

TASK 4: DETERMINE IT CHANGES NEEDED (2014) Based on the determinations made in Tasks 2 and 3, the new standard may require modifications to IT systems to capture the appropriate level of information related to data used to make

NEED MORE TIME TO PREP FOR REVENUE RECOGNITION? YOU MIGHT GET IT From the MACPA’s blog, CPA Success For every organization that must comply with the profession’s new revenue recognition standard — and that pretty much means every organization, period — the biggest concern is time. The standard, which was released in May by the Financial Accounting Standards Board and the International Accounting Standards Board, centers on the recognition of revenue from contracts with customers and “is designed to create greater comparability for financial statement users across industries and jurisdictions,” writes Ken Tysiac in the Journal of Accountancy. Here’s the problem: The original deadlines called for any companies that file under U.S. GAAP to implement the new standard by Jan. 1, 2017. Officials at many of the companies in question have complained, saying that simply isn’t enough time. Regulators apparently are listening. FASB and IASB officials have said recently that they might delay the implementation deadline in the wake of those complaints. That would probably be a good thing. The more we hear about the standard, the more unsure companies seem to be about the impact it will have on business. While most companies are at least somewhat familiar with the standard, CFO.com’s Matthew Heller reports that “35 percent of companies had not yet attempted to quantify the impact of the new standard on financial statements, and 23 percent were not sure whether it would have a material impact on income statements or balance sheets.” Compliance Week’s Tammy Whitehouse added this: “(Seventy-seven) percent of companies expect to make some significant changes to IT systems to adopt the standard, but few could estimate the costs the company would incur to adopt the standard. The results suggest companies still have a lot of work ahead of them to understand the standard and its implications for their accounting, controls, and business generally.” Sounds like we could all put that extra time to good use.

applications to capture information needed for the new revenue recognition standard, including the following retrospective adoption and the additional qualitative and quantitative disclosures required.

TASK 5: DETERMINE INTERIM DISCLOSURES NEEDED FOR PUBLIC COMPANIES (2014-16) Public companies should consider the guidance in SEC Staff Accounting Bulletin (SAB) No. 74 (Topic 11:M), “Disclosure of the Impact that Recently Issued Accounting Standards Will Have on the Financial Statements of the Registrant When Adopted in a Future Period” (MACPA.org/SAB74) to determine the appropriate interim disclosures to be made prior to the adoption of the new standard.

TASK 6: DEVELOP PROJECT PLAN (2014–16) Develop an evolving project plan for implementation of the revenue recognition standard considering all of the tasks above and facilitate training for your staff.

TASK 7: EDUCATE KEY STAKEHOLDERS (2015-16) Based on the determinations made in Tasks 2 and 3, the new revenue recognition standard may result in changes in timing of revenue recognized as well as new qualitative and quantitative disclosures that will need to be explained to stakeholders. Educate key stakeholders such as your audit committee, board of directors, investors, and lenders on the new revenue recognition standard and what changes they should expect in your company’s financial statements. Kim Kushmerick is the AICPA’s senior technical manager, accounting standards.

estimates on revenue recognition and new disclosures. Determine whether any changes will need to be made to IT systems or software STATEMENT

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2015

ss Busines y r t u d n I & RENCE CONFE TH MAY 7

FIND YOUR COMPETITIVE EDGE Event ID: 121011 | Turf Valley Resort & Conference Center

macpa.org/industry

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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NEWS & VIEWS New SSARS 21 creates bright line between accounting and reporting services F RO M T H E A I CPA CPAs used to be limited by geographic area. Today, distance isn’t a barrier. A CPA located in New York can have clients in California. Thanks to advanced technology, CPAs and their clients e-mail, scan, or fax materials to each other. They also store content in the cloud, where it can be easily accessed from an office, a coffee shop, or anywhere with an internet connection. The AICPA’s Accounting and Review Services Committee (ARSC) recently issued Statement on Standards for Accounting and Review Services No. 21 that, among other things, accounts for

"THE ARSC IS COMMITTED TO ENSURING THAT ITS STANDARDS REMAIN RELEVANT AND MEET MEMBERS’ NEEDS."

periods ending on or after Dec. 15, 2015, but early implementation is permitted. The clarified and revised standards supersede all existing AR sections except for AR section 120, “Compilation of Pro Forma Financial Statements,” which is expected to be exposed for public comment in clarified format in 2015, along with a proposed standard on compilation of prospective financial information, which is currently addressed in the attestation standards.

THE STANDARD CONSISTS OF FOUR SECTIONS:

Section 60, “General Principles for Engagements Performed in Accordance With Statements on Standards for Accounting and Review Services,” is intended to help accountants better understand their professional responsibilities when performing engagements in accordance with SSARSs.

Section 70, “Preparation of Financial Statements,” applies when the accountant is engaged to prepare financial statements but is not engaged to perform an audit, review, or a compilation on those financial statements.

to prepare financial statements are as follows: • Section 70 does not require a report, even when the financial statements are expected to be used or provided to a third party. • Section 70 requires either a legend on each page of the financial statements stating that no assurance is being provided or a disclaimer. • The accountant is required to obtain an engagement letter signed by both the accountant and the client’s management for all reviews, compilations, and engagements to prepare financial statements. • Section 80 eliminates the need for the accountant to determine whether he or she has prepared financial statements by eliminating the submission requirement. • Section 80 always requires a report. Financial statements that the accountant is engaged to prepare but that are not intended for third-party use would fall under Section 70.

changes in CPAs’ practice environment. The ARSC is committed to ensuring that its standards remain relevant and meet members’ needs.

Section 80, “Compilation Engagements,” applies when the accountant is engaged to perform a compilation engagement.

“The standards create a bright line between accounting (preparation) services and reporting (compilation) services,” said MACPA Chief Executive Officer Tom Hood, CPA. “Our members will greatly benefit from the newly issued SSARS.”

SSARS No. 21 is written in clarified format, which is intended to present standards that are easier to read, understand, and implement.

Section 90, “Review of Financial Statements,” applies when the accountant is engaged to perform a review of financial statements.

For more information, visit the AICPA’s SSARS No. 21 webpage at MACPA.org/ SSARS21.

SSARS No. 21 is effective for engagements on financial statements for

Substantive changes to standards for compilations, reviews, or engagements

STATEMENT

SAVE THE DATE

The CPA Event of the year. 6.23.2015

INNOVATION SUMMIT

NEWS & VIEWS CBM merges with Drolet & Associates After nearly 40 years, Councilor, Buchanan & Mitchell is back in Washington, D.C., as a result of its merger with D.C.-based Drolet & Associates PLLC, Certified Public Accountants. The combined firms will operate as Councilor, Buchanan & Mitchell, PC. Pictured from left are (front row), Patricia Drolet, Peter Reilly and Holly Caporale; and (back row) Matthew Johnson, Daniel Weaver, John Mullins, S. Vincent Crescenzi and Richard Morris. Not pictured is John Comunale.

A new era of CPA leadership MACPA Chair-elect Michael Manspeaker, second from left, joins AICPA Chair-elect Tim Christen during a break at the 2014 fall meeting of the AICPAâ&#x20AC;&#x2122;s governing Council in Boston. Joining them, from left, are MACPA CEO Tom Hood, MACPA Chief Operating Officer Jackie Brown, and AICPA President and CEO Barry Melancon.

STATEMENT

What’s on Line 37?

Your opportunity to make a tax-deductible donation to the Maryland Cancer Fund which provides cancer prevention, screening and treatment for low-income Maryland residents. Please Donate on Line 37 for Tax Year 2014! http://phpa.dhmh.maryland.gov/cancer/SitePages/mcf_home.aspx

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TAX CORNER Busy season is a little less busy with tax resources from AICPA, MACPA While this year brings some uncertainty as to whether expiring tax provisions will be renewed (and, as a result, whether tax season will be affected), it also delivers a few things of value – resources that you can use to educate your clients about tax changes and the Affordable Care Act. The AICPA Tax Practitioner’s Toolkit (AICPA.org/tax-toolkit) helps firms of all sizes bolster their current client bases and actively reach out to prospective clients. The Toolkit’s messaging will help you establish yourself as a leading provider of tax services all year long. The website also has been redesigned to make it easier to find the tools you need. In addition, the MACPA’s state and federal tax communities are gearing up for another productive tax season. • The MACPA’s state and federal tax listservs are among the association’s most popular resources. Each tax season, the lists are dominated by members who have pressing taxrelated questions – and by other members stepping in to answer those questions. They’re the perfect resources for finding trusted solutions to your tax issues. • Daily tax updates are posted on the MACPA’s Twitter (Twitter.com/ MACPA), Facebook (Facebook.com/ MACPA) and LinkedIn (MACPA.org/ MACPALinkedIn) networks. • Weekly tax updates are found each Friday in our MACPA Weekly e-newsletter, sent automatically to all members. • The MACPA’s popular 1040 FastTrack program offers comprehensive individual tax information for CPAs and their staffs. The program will be held on Jan.

JANUARY 2015

8-9 at the Loyola Graduate Center. Get details and register at MACPA. org/1040FastTrack.

HOW CAN YOU ACTIVELY COMMUNICATE WITH CLIENTS WITH SO LITTLE TIME? Keeping your website current or social media posts timely is a challenge, especially during busy season. But maintaining that connection is vital. Reminding clients of your value regularly and year round is easy with the AICPA’s Toolkit tools, such as website articles and tweets for consumers and client letters and brochures on tax changes that require planning. Save time by taking the guesswork out of what to say. Just cut and paste from: • more than 100 tax tip tweets that promote your experience and expertise, ready for you to download and tweet to your followers; • 29 mini-tax articles and reminders that showcase your expertise and value that you can drop into your website, social media or client communications; and • client letters to small business or individual clients (or both) to educate them on important yearend tax planning concerns and encourage them to contact you now. You can also download and print the Tax Law Snapshot brochure to give clients a detailed overview of what may affect their return in 2015 or the Affordable Care Act FAQs to answer their questions about issues like the new shared responsibility payment and the Health Insurance Marketplace.

EASY WAYS TO RAISE YOUR PRACTICE’S PROFILE Within the Tax Practitioner’s Toolkit are customizable materials intended to help tax practitioners reach potential clients and be ready for business opportunities that can present themselves any time. • Are there groups in your community who would like a speaker to bring them up to speed on tax changes and the Affordable Care Act? Use the Tax Law Snapshot PowerPoint slides and modify them to add your own voice and local or state concerns. • What can you say or send as a followup to someone who asks what you do? Send them the Tax Law Snapshot or a brochure on CPA yearround services. • Is your child’s school looking for ad sponsors for a game or play program? You can help. Just add your name and contact information to one of the print ads that describe a CPA’s unique value as a trusted adviser. • Would your local paper appreciate a tax expert offering tips for their readers? Most likely! Modify and send the media release template and review tips for media interviews to get started. The range of Toolkit resources enables you to reach consumers from many different angles. Visit the Toolkit at AICPA. org/tax-toolkit and see all the resources available to you.

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TAX CORNER Complexities with IRS processing of refunds B Y G E R A R D H. SCH RE IBE R JR. Editor’s note: The following article was originally published by the Texas Society of CPAs. It is reprinted here with permission.

The April 15 deadline will soon be here, and you will be hearing from clients who have not received their refunds. This article will give insight into systemic issues that practitioners must be aware of and work with to assist clients in receiving their refunds. The convenience of the electronic filing mandate, direct deposit of refunds to bank accounts and IRAs, and the ability to track a refund through the IRS “Where’s My Refund?” tool and e-Services make a practitioner’s life easier … until we’re faced with the inability to find a taxpayer’s refund in the system. Many practitioners are finding out that when the refund does not appear in the system, it creates a challenging set of circumstances to determine what is happening with the taxpayer’s account. In addition to income tax returns, practitioners may need to access transcripts for other returns filed with the IRS. The IRS has introduced a tool on its website that enables taxpayers to access their account transcript. It is located at IRS.gov/Individuals/Get-Transcript. Taxpayers may create a user name and access their account information online. Most practitioners might agree that IRS transcripts create complexities for practitioners and will not be readily understood by taxpayers. It is unlikely a taxpayer will have the knowledge and understanding of the transaction codes and other information on the transcript and will need to consult the practitioner for interpretation or contact the IRS. The following information covers issues associated with assisting practitioners in getting the taxpayers’ refunds processed and to them. Also, the use of e-Services and IRS transcripts necessitates an

JANUARY 2015

understanding of the transaction codes and other information on the transcripts.

IRS ACTIONS The typical circumstance practitioners experience is that the taxpayer’s return is filed electronically, with a refund indicated to be directly deposited into the taxpayer’s bank account. The practitioner knows the return has been electronically filed and accepted by verification from the Electronic Return Originator. Then, there is an unexpected delay in the issuance of the refund and the practitioner is unable to find a record of the return being filed in the IRS system after looking on both the IRS website using the “Where’s My Refund” tool and in e-Services. In addition, the practitioner may consult the Practitioner Priority Service and Taxpayer Advocate Service. This creates a very frustrating set of circumstances for all concerned. The taxpayer is anxious to receive the refund, does not understand the delay, and looks to the practitioner for answers. The practitioner is using the resources he or she is aware of and is not able to get any answers. No one is available to provide answers. The Practitioner Priority Service is unable to assist in releasing the refund or providing any insight on the issue. The practitioner is unsure if the matter meets the current criteria for acceptance by the Taxpayer Advocate. What should be done next? In many instances, the taxpayer’s return has been selected for further review, which will not appear in the account on e-Services and “Where’s My Refund.” The IRS is concerned with the accuracy and validity of the return filing. A Letter 5071C, “Potential Identity Theft During

Original Processing with Online Option,” is sent to the taxpayer requesting additional information to assist in the processing of the return. Many taxpayers will not inform the practitioner of receiving this letter and attempt to answer this inquiry on their own. The complexities of the identity verification process can be very confusing to many taxpayers and further delay the processing and receipt of the refund. By the time the practitioner is informed, a significant amount of time has passed. When accessing e-Services, a practitioner will generally obtain an account transcript that will furnish much information to assist in determining the status of the taxpayer’s account. The dates of filing, assessment, payments, and other actions on the account are the most obvious that appear. In addition to this information, various transaction codes will be listed on the transcript. Knowledge of these transaction codes has become a very important and necessary tool in determining what is happening with the taxpayer’s account in all instances and for all types of returns, in addition to taxpayer’s refunds. Many of us will remember when revenue agents and officers would visit our offices, have paper printouts of a taxpayer’s account, and then refer to a foldout document to determine the various transaction codes on the account. This is the IRS Transaction Codes Pocket Guide, Document 11734. In addition to this, the IRS has Document 6209, which provides more detail on transaction codes than the pocket guide. Most of the accounts with delayed refunds are coded with a transaction code 570. This is also referred to as a “hard freeze” on the account.

CONTINUED ON PAGE 24

The Taxpayer Advocate’s report has indicated “one of the most significant problems requiring improvement is that the IRS continues to harm taxpayers by unreasonably delaying the processing of valid refund claims that happen to trigger systemic filters.” The report indicates 240,000 accounts had permanent “hard refund freezes” placed on them. The hard freeze is represented by transaction code 570.

• Seventy percent of all taxpayers who sought TAS help with the refund freezes in 2012 were experiencing some kind of financial harm as a result of IRS actions (or inaction), compared to 38 percent in 2010.

The Advocates’ report indicates there are many issues with the Questionable Refund Program (QRP):

• Seventy percent of these taxpayers with hardships received full relief (with another two percent receiving partial relief).

• In the second quarter of fiscal year 2012, the IRS reported that QRP inventory had increased three-fold over the previous year. As a result, the IRS has not been able to work this increased inventory within 70 calendar days, as agreed to between the National Taxpayer Advocate and Criminal Investigation in 2006, and began to apply hard freezes on these accounts. • In FY 2012, the IRS Accounts Management Taxpayer Assurance Program (AMTAP) imposed a “hard freeze” on more than 142,000 returns because it could not complete the verification within the allotted time, not because the returns show “badges of fraud” or are otherwise suspect. In other words, AMTAP is using a hard freeze – normally designated for accounts in which potentially fraudulent activity has been “verified” – as an inventory management tool, without sufficient analysis of relative risk. • TAS receipts of AMTAP cases – one indicator of flawed IRS procedures – rose approximately 468 percent since FY 2010, from 3,171 case receipts in FY 2010 to 18,012 in FY 2012. AMTAP cases currently constitute 8.2 percent of all TAS case receipts and are the second most common issue in TAS casework. • TAS is increasingly receiving cases from taxpayers who are experiencing crippling economic burden because of IRS AMTAP delays.

• A representative sample of TAS wage verification cases closed in 2012 found that 86 percent of these taxpayers were facing potential adverse impact.

• In the same representative sample of TAS pre-refund cases, 53 percent of the taxpayers claimed and received the Earned Income Tax Credit (EITC). These taxpayers waited more than three months for a median refund of $5,175. The refunds comprised 38 percent of their Adjusted Gross Income (AGI). The number of these hard freezes mentioned in the Taxpayer Advocate’s Report indicates this is an issue many practitioners either have experienced or will experience as taxpayer’s returns are being processed by the IRS. The IRS is publicizing the lack of funding for their activities, including the processing of returns.

PRACTITIONER’S VIGILANCE Practitioners will need to be more vigilant of the items posted on taxpayer’s accounts and know where to go to determine the meaning of the various codes on the accounts. The practitioner will need to consider what action to take if the transcript reveals a hard freeze or other similar code delaying processing of the return. The first thing that would come to mind would be to contact the Taxpayer Advocate. The Taxpayer Advocate has changed the criteria for acceptance of cases. The Taxpayer Advocate will not accept cases where pure processing matters are indicated. It will accept cases where there is an economic burden placed on the taxpayer by the IRS actions.

The Taxpayer Advocate report mentioned previously indicates the responsible IRS officials for this action. It may be beneficial for the practitioner to directly contact these IRS officials. Many practitioners now routinely get Form 2848s (Power of Attorney and Declaration of Representative) for all tax clients. This may become a standard practice as the complexities of return preparation and processing issues continue to impact more taxpayers. In addition, it will be normal due diligence in return preparation to obtain a transcript on extended returns since taxpayer information such as Forms W-2, 1099s, and other information is becoming available from the IRS at an earlier date than in the past.

SUMMARY The refund freeze and other IRS account actions place the practitioner in a challenging position when faced with client satisfaction and retention being an important part of everyone’s tax practice. While there may be no way of stopping IRS actions on taxpayer’s accounts, proactive action such as monitoring of the taxpayer’s account by the practitioner may assist in dealing with this situation. Knowledge of the transaction codes and other postings on IRS account transcripts are a necessity in practice and hopefully will help to assist practitioners in dealing with IRS actions on taxpayer accounts. Jerry Schreiber is a partner in the local accounting firm of Schreiber & Schreiber with expertise in accounting, tax, and consulting matters of individuals and small businesses. He can be reached at ghschreiber@bellsouth.net.

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TAX CORNER Estate planning after ATRA: A whole new world for CPAs and tax professionals B Y T H O M A S J . STE M M Y, CPA , CVA, EA, MMS

The American Tax Relief Act (ATRA) of 2012 has become a real game-changer for CPAs and tax advisers who tend to keep an eye on their clients’ entire family taxplanning picture. Why? Except for the very wealthy, concerns about the federal estate tax have suddenly become a thing of the past. This means many clients will no longer need an elaborate (and sometimes incomprehensible) estate planning strategy – one that needs to be changed every time that Congress re-writes the tax code. However, if anyone is thinking about changing his or her estate planning goals because of the friendly new tax rules, they need to keep in mind that high income taxes are now the hot topic in estate planning and, unfortunately, major relief is not expected anytime soon. Look at the facts: 1. The new federal estate tax exemption is now set at $5.34 million (after inflation indexing). The vast majority of Americans are now outside the reach of the so-called federal “death tax” and, with the now permanent portability rules, married folks might even see a lifetime exemption as high as $10.68 million1. 2. For income taxes, however, there is no relief in sight. In fact, the ATRA raised the top marginal tax rate for individuals and trusts from 35 percent to 39.6 percent2. At the same time, it tacked on a new Medicare Tax of 3.8 percent on investment income and 0.9 percent on earned income

for those with higher income3. And, higher earners have also seen the disappearance of their long-favored 15 percent top tax rate for capital gains and dividends – now up to 20 percent4. Finally, let’s not forget the state income tax, which is required in all but seven states. (For Marylanders, that top rate could easily exceed 8 percent.)

THE SEARCH FOR BASIS: THE NEW TRUMP CARD IN ESTATE PLANNING Strangely, many clients are holding onto the notion that lifetime gifting is still a necessity because of the lingering fear that some form of death taxes will be lurking for those assets that are valued in their estate. Some might even think that beneficiary children will come out as winners if an appraiser puts a “lowball” valuation on an asset that they just inherited. Clearly, these clients need to learn about the advantages of basis “step-up.” More important, they need to understand that when no estate taxes will be owed in the first place, a low-ball valuation on any estate asset could result in a huge capital gains tax cost later5.

basis to minimize his capital gain.

TIME TO REVISIT EXISTING ESTATE PLANS WITH ATTORNEY AFTER ATRA? Who other than the CPA / tax adviser is better equipped to take the lead in alerting the estate lawyer to any changes in the client’s estate – an especially important consideration in view of the new tax-planning priorities? The tax professional will have the opportunity at tax time (if not before) to gather information about changes in the overall estate picture with questions like these: 1. How are the client’s assets titled at the present time (individually, jointly, T by E, tenants-in-common)? 2. What gift transfers have been made to family members? And, most important, 3. How much change has there been in the value of the client’s net worth? Answers to these questions will help determine whether or not an existing estate plan needs to be modified because of ATRA. However, it needs to be emphasized to clients that there are other, non-tax issues that should never be overlooked – such as asset protection, creditor protection and asset management. These, of course, are of critical importance and need to be reviewed periodically with the experienced estate lawyer regardless of the tax consequences.

Uninformed clients also need to understand that making certain lifetime gifts (without understanding the “carryover basis” rules) can result in devastating capital gains taxes later6. What tax practitioner hasn’t cringed upon learning that a client had unwittingly transferred to one of his kids an interest in REVISITING THE ESTATE TAX an investment property without realizing “TERMINATORS” AFTER ATRA that his own, low, out-of-pocket costs will Identified below are a few of the highmean low carryover basis for the kids? Or profile estate-planning strategies worse, Pop’s old records could be in such commonly used to minimize excessive a disarray that it would be impossible later on for Junior to substantiate any carryover

CONTINUED ON PAGE 28

JANUARY 2015

estate taxes but which may no longer be necessary. That is, unless (a) you expect to be among the very wealthy, or (b) you happen to live in a state that imposes estate taxes for estates of your size. (Comment: Marylanders, for example, need to remain wary of the low $1 million exemption now in existence for estate taxes. This exemption, however, is scheduled to be increased over the next five years to match the federal threshold7.)

NO. 1: THE ANNUAL GIFT EXCLUSION “LOOPHOLE”

no immediate tax is owed. However, filing is recommended when required because (a) no one can predict what his or her net worth is going to be down the road, (b) the statute of limitations will safeguard positions taken on gift valuations and, most important, (c) who knows what the tax rules and IRS oversight monitoring will be like in this uncertain economy?

NO. 2: GOOD NEWS FOR MARRIED TAXPAYERS “Gift-splitting elections” on Form 709 can

There is a familiar mindset among clients that has long been fixated on the importance of making gift transfers each year – up to the allowable annual exclusion, now set at $14,000. They need to be aware that the lifetime exemption for gifting has now been increased to $5.34 million8. Thus, the only real tax-saving benefit for most gifting plans might be with income taxes by splitting income with others at lower tax brackets. Don’t forget to file required gift tax returns, regardless: Under the new law, many clients have been questioning the need to file gift tax returns by April 15 for gifts over the annual exclusion. This, of course, is not the case, as the IRS’ filing instructions clearly state that Form 709 must be filed whenever there is a gift of a present interest that exceeds the annual exclusion9. It’s true – there is no penalty for failure to file the return when

Aside from gift-planning, there is another election at the estate level (the “portability” election) which is available for married clients. This election will allow them to lock in the full $10.68 million lifetime exemption in their combined estates10. Practitioners beware: Portability for married couples is not automatic. Under the rules of ATRA, the estate of the first to die must timely file a federal estate tax return and make the portability election, even if no tax is due. Many clients will object to this seemingly unnecessary undertaking and its related costs. However, with up to $10.68 million at stake (to be protected from estate taxes), filing a tax return is clearly a small price to pay. The good news is that simplified estate tax return reporting is now allowed. The hardship of filing a complex Form 706 simply to elect portability has been recognized by the Treasury. Statutory provisions now permit “simplified” reporting steps along with the ability to use broad “estimates of value” for assets – provided that a Form 706 is timely filed11.

be particularly beneficial after ATRA. First, they permit a married person to transfer up to $28,000 to any one individual each year without having to dip into his or her lifetime exemption. Second, with gift splitting, that lifetime exemption can be as high as $10.68 million.

NO. 3: LLCS, FLPS AND OTHER OWNERSHIP ENTITIES - OLD STANDBY TAX TERMINATORS Setting up a business entity (like a limited liability company or a family partnership) to transfer minority interests to others

CONTINUED ON PAGE 31 STATEMENT

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has long been hugely successful in minimizing estate tax burdens. Although controversial, proper documentation has made it possible to claim substantial discounts (often between 25 percent and 45 percent) when gifting minority interests of assets that would otherwise be fully includable in one’s gross estate, while allowing the transferor to stay in control. However, if estate taxes are no longer a concern, many will find no value in setting up an LLC, FLP or other pass-through entity. One might argue that the tactic might even backfire, tax-wise, because lifetime gifting of minority interests could sacrifice the magic of basis “step-up” forever for one’s heirs. With this trade-off in mind, tax practitioners can make an important contribution by helping to project the potential tax cost to the client’s beneficiaries that could result when stepup is not available. This includes the tax on capital gains and investment income under the new tax rates. This potential cost can then be weighed against any possible income tax-saving benefits that might be gained by shifting income to others when minority interests are gifted to others at lower tax rates. Any questions about setting up or dissolving an LLC, FLP or other separate entity after ATRA should consider the critical non-tax issues which are at stake. Since they generally involve the protection of the family’s hard earned assets, these decisions should not be made without attorney participation.

NO. 4: TIME TO ABANDON THE EVER POPULAR BYPASS TRUST? Prominent estate experts are now contending that, with the generous new $5.34 million exemption, it has become apparent that most taxpayers will no longer need to include a complex “bypass trust”12 in their plans. This could be good news, since bypass trusts generally are not only costly to set up and administer, they could have adverse tax consequences as well. These include (a) the loss of basis step-up for the survivor spouse, and (b) compressed income tax brackets for trusts.

JANUARY 2015

Why abandonment of the bypass trust might not be a good idea: For one thing, clients need to consider the possibility of future growth of asset values or the need to preserve the GST exemption (the generation skipping tax) which is not portable. In addition, there may also be a need for protection from estate taxes in their state of residence. More important, once again, the use of any type of trust involves the bigger picture of asset protection and, for this reason, the recommendation of counsel is essential. The above noted estate-tax “terminators” are only a few of the many strategies that are commonly used to minimize an excessive estate tax burden for clients. Other popular options (which might also need to be re-visited at the planning table after ATRA) might include the following: GRATs (grantor-retained annuity trusts): Very generally, the client is allowed to make lifetime gifts of accumulated wealth to an irrevocable trust while retaining the right to receive an annuity payment for a fixed number of years. After the trust period, the assets can pass to the children at a major estate tax savings if the asset appreciation exceeds the historically low interest rates prescribed by IRS13. IDGTs (Intentionally defective grantor trusts): The IDGT is an interesting tool that enables the client to freeze investment assets for estate tax purposes, but not for income tax purposes.

$406,750 (single taxpayers), $432,200 (head of household) $228,800 (married filing separate ) and $457,600 (married filing jointly). 3. For tax years beginning after 2012, net investment income of higherearning individuals, trusts, and estates is subject to a 3.8 percent surtax (Sec. 1411 IRC). 4. Top 20 percent tax rate for capital gains and dividends made permanent by ATRA. 5. IRC 1014, basis of property acquired from a decedent. 6. Section 1015(a) – carryover basis from donor to donee for gift transfers of appreciated property. House Bill 739, “Maryland Estate Tax – Unified Credit”: Most practitioners 7. are aware that certain states still have an estate tax which still makes it important to consider lifetime gifting and other strategies to minimize estate tax liability. Maryland has an exemption level of only $1 million for 2014. However, on May 15, 2014, the governor signed into law legislation that plans to increase this exemption level yearly, with the goal to match the federal exemption level by 2019. 8. Under ATRA, the lifetime exemption for gift transfer will equal the exemption allowed for estate taxes, indexed for inflation (now at $5.34 million). 9. 2013 – IRS instructions for Form 709. 10. Treasury Reg. 20.2010-2T(a)(7)(ii) – rules for elective portability.

ILITs (Irrevocable life insurance trusts): 11. Treasury Reg. 20.2010-2T(a)(7)(ii)(A). ILITs have been one of the most successful 12. Known as the “Exemption Equivalent estate-tax terminators in the past. With Trust.” proper trust documentation, substantial insurance policies are free from the estate 13. Section 7520 and prescribed Actuarial tax when the policies aren’t owned by the Tables insured party in the first place. Thomas J. Stemmy, CPA, CVA, EA, MMS, is a tax practitioner and partner FOOTNOTES with Stemmy Tidler & Morris, P.A. in 1. Portability of deceased spouse’s Annapolis. unused estate tax exemption to surviving spouse made permanent by ATRA. 2. For 2014, the 39.6 percent tax rate will apply when inflation-adjusted taxable income level reaches

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ACCOUNTING & AUDITING Commercial damage calculations: Lost profits vs. lost value B Y R . C H R I STOP HE R ROSE N TH A L , CPA/ABV, AS A, CF F, AEP A business damage claim may be calculated as either (1) lost profits of the business, or (2) lost value of the business. Federal and state laws provide different remedies depending on the type of claim brought by a plaintiff. The type of economic damages alleged, as well as the facts and circumstances of the claim, will determine which measure of damages is most applicable. Federal and state courts have not been clear or consistent in distinguishing the two types of remedies. Frequently, there is confusion as to whether or not the two damage methods are redundant or overlapping. As experts, our job is to determine financial damages that restore the plaintiff to the same position as prior to the alleged injury. From an economics standpoint, you cannot have both lost profits and loss in value during the same time period (double dipping). The case law supports this conclusion. However, it is possible to use both methods consecutively. An example is a slow death scenario. Lost value is a measure of the impairment in the value of the business. It is measured by virtue of its impaired cash flow “but for” the damaging event and assuming the loss is permanent. Lostvalue calculations use traditional business valuation approaches, including income, cost, and market. The CPA expert would value the business immediately before and after the damaging event, resulting in lost value damages. Lostvalue calculations should consider marketability discounts and control premiums, if appropriate. Typically, lost value methodologies use after-tax cash flows and discount rates and gross up the results, as the award is usually taxable.

Lost value calculations can consider different standards of value, such as fair market, fair, intrinsic, and investment values. The standard of value utilized depends on the type of case, facts, circumstances, and venue. The expert needs to communicate with counsel at the beginning of the case regarding the appropriate standard of value. Lost profits is a measure of the impairment of cash flow that would have been earned by a company “but for” the damaging event over a determinable period. An expert measuring lost profits would consider specific facts, such as the reputation of a plaintiff, that might enable him or her to generate more profit than a hypothetical owner. Lost profits are typically viewed from the plaintiff’s perspective. This method uses a pre-tax calculation. The before-and-after method is common in calculating lost profits and uses the company’s data. This method compares the plaintiff’s performance before the damaging event to the plaintiff’s performance after the event. The underlying theory is that “but for” the defendant’s action, the plaintiff would have experienced the same level of revenue growth and profitability after the damaging event as the plaintiff did prior to the event. Other methods to calculate lost profits include the yardstick and market model methods, which utilize market data, such as comparable guideline companies or industry data, to calculate the lost profits. These are relative lost-profits methods compared to the before-and-after method, which is an absolute lost profits method.

DIFFERENCES IN DAMAGE PERIOD The damage period in a lost profits calculation is temporary as compared to the damage period in lost value calculations. In lost-profits calculations, the damage period is finite. It is assumed that the damaged company would return to the revenue and profit levels prior to the damaging event at some point in the future. In lost-value calculations, the damage period is permanent, and it is assumed that the damaged company will never recover to the levels achieved prior to the damaging event.

DIFFERENCES IN INCOME / CASH FLOW STREAM A lost-profits and lost-value calculation can use an income approach to calculate damages. There are many differences in the calculation of income and cash flows between both damage measures:

LOST PROFITS: • Incremental revenue, net of avoided costs or costs saved. • Before income tax. • Past period calculated through date of trial. • Future period (until recovery) is discounted to present value as of trial date. • Some jurisdictions require discounting to present value as of alleged injury date.

LOST VALUE: • Net cash flow available to equity or total invested capital is used. • After tax income. • Past period is not applicable since a

CONTINUED ON PAGE 36 STATEMENT

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valuation is a measurement of value of future expected cash flow. • Future cash flows are discounted to valuation date. In a lost-profits calculation, the expert subtracts avoided costs (i.e., variable costs) from incremental revenue in both the actual scenario and “but for” scenario. Avoided costs are costs that would have been incurred in connection with the generation of the lost revenues but were not incurred. To the extent the plaintiff has incurred costs that would not have been incurred in the absence of the defendant’s misconduct, those costs should be offset against the avoided costs. The lost profits for the actual and “but for” scenario are discounted and presented valued back to a specific date. The difference between the “but for” scenario and actual scenario are lost profits. Since the damage period is finite, there is no calculation of a terminal value for lost profits. Some costs, such as cost of goods sold, may vary directly with sales. These costs, however, may not be entirely avoided. For instance, some costs may have been incurred to produce product prior to the wrongful act in anticipation of subsequent sales that did not occur as a result of the wrongful act. Other costs, such as rent, are normally fixed in nature. The duration of the loss period can affect the extent to which costs are avoided. If the loss period is relatively short, it may not be possible to avoid certain costs. If the loss period is longer

JANUARY 2015

in duration, some costs that in the shortterm would be fixed, may be variable or semi-variable. In a lost-value calculation, the expert calculates either equity or invested capital cash flow. The cash flow is discounted and present valued back to the valuation date to determine the value in an income approach. Since lost-value calculations are infinite, a terminal value is calculated when using this approach. As noted

appropriate use of risk-adjusted discount rates in lost profits calculations. In lostvalue cases, the after-tax discount rate reflects the risk associated with the cash flow stream.

CONCLUSION The two damage measurements used in a commercial litigation matter involve similar but conceptually different calculations. Both damage calculations may be initially considered for a case, but ultimately the facts will determine the appropriate measure. In some cases, both lost profits and lost value can be claimed. However, the expert needs to be careful to avoid double dipping. It is the responsibility of the expert to understand the facts of the case and communicate with counsel as to the appropriate

above, the market and cost approaches can also be used in a lost value calculation.

DIFFERENCES IN DISCOUNT RATES AND CASH FLOWS The discount rate may vary between a lost-profits and lost-value calculation. In both lost-profits and lost-value calculations, the discount rate must reflect the risks associated with the cash flows. Typically, after-tax discount rates are used and applied to pre-tax and after tax cash flow for lost profit and lost value calculations, respectively. In the lostprofits calculation, a few jurisdictions have allowed the risk-free rate as the discount rate. However, most of the case law now and many jurisdictions recognize the

damage measurement. R. Christopher Rosenthal, CPA/ABV, ASA, CFF, AEP is a director in Ellin & Tucker’s Forensic and Valuations Services Group with more than 30 years of experience as a global leader in the forensic, damages and valuation services profession. For more information, contact the firm’s Washington, D.C., office at (202) 6380902 or by e-mail at crosenthal@ ellinandtucker.com.

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 second in a series of articles on information security and privacy. In the past week, you likely have done more than one of the following: • attached files to e-mail messages; • placed files on a thumb drive or laptop; • created a contract or completed a form for printing and signing; • saved Word documents or Excel files in PDF format; or • added comments, annotations, or a signature image to a PDF file. If your e-mail attachment is opened by the wrong person, the thumb drive is lost or stolen, the PDF file is modified, or the PDF comments are removed or replaced, you may be at risk or responsible for the outcome whether the actions were inadvertent or intentional.

PASSWORD-PROTECT AND SECURE A PDF FILE FROM CONTENT MODIFICATION Without securing your PDF files using password-protection features, your PDF file’s content can be altered and edited. Adobe Acrobat includes a “Save As” feature to convert PDF files to Word documents. Even if you scan your PDF files as images, without setting protection features, someone could use the Optical Character Recognition feature and potentially access the individual characters. Now, Microsoft Word 2013 software has a new feature that will seamlessly open and convert PDF documents to Word format for editing. And Word can save a file to PDF format. To password-protect and secure a PDF file from content modification or conversion to a Word document, follow these steps:

1. With a PDF open in Adobe Acrobat, click the File menu, select Properties, and then select the Security tab. 2. In the Security Method drop-down box, select Password Security. 3. Under Permissions, check the box next to “Restrict editing and printing of the document.” To allow printing, select High Resolution in the Printing Allowed drop-down box. If the PDF is a fill-in form, select “Filling in form fields” in the Changes Allowed dropdown. 4. Enter the Change Permissions password and click OK. You will be prompted to enter the password a second time. The password is case sensitive. 5. Save the file under a different filename to keep an unprotected version of the file. Close and reopen the protected file. You will not be able to use the text editing tool or Save As and convert to a Word document. Word 2013 will not be able to open and convert the PDF.

PASSWORD-PROTECT AND SECURE A WORD, EXCEL, POWERPOINT, OR PDF FILE FROM OPENING WITHOUT A PASSWORD Microsoft Word, Excel, and PowerPoint and Adobe Acrobat include an “encrypt file” feature that allows for password security to restrict who can open the file. Therefore, when you attach a file to an e-mail message or place a confidential file on an unencrypted thumb drive or laptop, you can restrict who can open the file. To encrypt a Word, Excel, or PowerPoint file with a password to open, follow these steps: 1. With a document open in Office 2010 or 2013, click the File menu, select Info, and then select Protect Document. In Office 2007, click the Office Button, select Prepare, and then select Encrypt Document. 2. Select Encrypt with Password. 3. In the Encrypt Document dialog box, type a password and click OK. You will be prompted to enter the password a second time. The password is case sensitive. 4. Save, close, and reopen the file. Enter the password when prompted to open the file. 5. To remove the password once the file is open, repeat steps 1, 2, and 3. In step 3, delete the black dots in the password field. Save, close and reopen the file. To encrypt a PDF file with a password to open in Adobe Acrobat, follow these steps: 1. With a PDF open, click the File menu, select Properties, and then select the Security tab.

2. In the Security Method drop-down box, select Password Security.

• include upper and lower case characters, and

3. Check the box next to “Require a Password to open the document.”

• do not include known words.

4. Enter a password and select OK. You will be prompted to enter the password a second time. The password is case sensitive. 5. Save, close, and reopen the file. Enter the password when prompted to open the file. 6. To remove the password once the file is open, repeat step 1 and, in step 2, select No Security in the Security Method drop-down box.

A NOTE ABOUT PASSWORDS Stronger passwords are those that: • have 16 or more characters, • include special characters,

Legal software utilities are freely available on the Internet that can hack through weak passwords using password cracking techniques, including password dictionaries. If you have been using eight or fewer characters and known words in your passwords, such weak passwords may put you at risk for unauthorized access to your files.

you may want to look into using a digital signature service such as Adobe EchoSign to securely distribute contracts and collect signatures. For information regarding encrypted thumb drives, visit Ironkey.com. Additional security topics will be covered in part 3 of this series. Judy Borsher, CPA, MBA, CGMA, CITP, MCT, is principal of SCG Training & Consulting Corporation. Contact her via e-mail at judy@scg-training.com.

If your business practices involve e-mailing confidential files, you may want to look into using a secure encrypted portal service to transfer files instead of e-mail. These services normally allow you to upload files to a secure server and then send an e-mail to the recipient to pick up the file by entering a password. If your business practices involve sending contracts in PDF format for signature,

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HIGH-TECH SOLUTIONS Business strategy should drive IT, not the other way around B Y B I L L S H E RIDA N , CA E Editor’s note: This article originally appeared in the MACPA’s blog, CPA Success. I don’t know a lot, but I know this much: Technological advances are changing our world and everything in it — including our jobs, our organizations, and our professions. Because of that, I also know this: A lot of organizations are making a potentially crippling mistake: They’re putting IT in charge of technology. On second thought, that’s a really simplistic way of stating the problem. Here’s a better way: Too often, IT departments are left to determine the technological strategies of their organizations on their own. That’s a huge mistake. Here’s why. Technology does some incredibly cool things these day. Life-changing things. And we’re way too quick to assume that we must put these cool things to work in our organizations. Just because we can, though, doesn’t mean we should.

JANUARY 2015

Technology isn’t a strategy. It’s a means to an end. Technology helps an organization achieve its goals. It shouldn’t be the goal itself. There are a lot of really cool gadgets and tools out there, and we’re seduced into thinking we need to use them all. We don’t. What we need to do is ask ourselves a simple question: Will these tools help us achieve our goals? “Technology is just a tool,” said Donny Shimamoto, managing director of IntrapriseTechKnowlogies and a leading AICPA technology volunteer, at the 2014 CCH User Conference. “Determine your business needs first, then choose a tool. Sometimes, technology isn’t the right tool.” In other words, Shimamoto said, “a good IT strategy looks at the firm’s goals and envisions how IT will support that.”

technology. “High-performing firms see technology as a strategic enabler,” Shimamoto said. That leads to Shimamoto’s four keys to technology success. Technology, he said, isn’t about gadgets and gizmos. It’s about these four formulas: • Automated and efficient processes equal improved execution and profitability. • Improved work processes equal increased employee satisfaction. • Better workflow and project management equal reduced risk. • Higher quality of service equals increased client satisfaction. Are your technology efforts centered on these things? If not, maybe you’re not as tech-savvy as you think you are.

Imagine that. IT decisions should be driven by the business, not the

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MEMBER NOTES NEWS & VIEWS Jon Coonan has joined the professional staff of Stoy, Malone &

Laura Quinn, CPA, has joined the accounting

Company, P.C. He will provide auditing and assurance services

and auditing department at Bormel, Grice &

as well as tax preparation for a wide range of individual and

Huyett, CPAs.

corporate clients. Liz Cullens, CPA, has been promoted to manager with Berman Goldman & Ribakow LLP.

Elizabeth Renna, CPA, a senior manager at Balsamo, Stewart, Lutters & Ruth, P.A. of Bel Air, has passed the CPA exam to become a licensed Certified Public Accountant in Maryland.

Sheldon Dagurt, CPA, who is of counsel to the

Maria Sevilla, CPA, has been promoted to in-charge accountant

Baltimore-based law firm Fedder and Garten,

with DeLeon & Stang, CPAs and Advisors.

P.A., has joined the board of directors of the MPT Foundation, Inc., the 501(c)(3) fundraising affiliate of Maryland Public Television.

Becky Spezzano, CPA, has joined the audit and accounting team at Gross, Mendelsohn & Associates, P.A., as a semi-senior accountant.

Diana DeWitt, CPA, a principal at Gross, Mendelsohn & Associates and a nationally recognized expert on overhead rate audits, presented a seminar for the National Highway Institute

Chris Stang, a CPA Candidate member of the MACPA, has

on Sept. 9-10 in Montana. The two-day advanced course was

been promoted to in-charge accountant with DeLeon & Stang,

titled, “Using the AASHTO Audit Guide for the Development of

CPAs and Advisors.

A/E Consultant Indirect Cost Rates.” Greta Tosi-Miller, CPA, market managing partner Margaret E. Eldridge, CPA, MBA, tax supervisor at the

with Dixon Hughes Goodman, and Brian Israel,

Hanover office of Smith Elliott Kearns & Company, LLC, has

CPA, the firm’s business development executive,

been awarded the designation of Certified Specialist in Estate

have been honored with SmartCEO’s Power

Planning by the National Institute for Excellence in Professional

Player Award.

Education. Barry Fields, CPA, MST, has been promoted to manager with Bormel, Grice & Huyett, P.A. Kate Vasiliev, MS, CPA, has been promoted to Karin Lundquist, CPA, senior manager at CohnReznick, has

manager with Berman Goldman & Ribakow LLP.

been selected as recipient of The Daily Record’s 2014 Leading Women Award, which honors Maryland women 40 years of age or younger for the accomplishments they have made so far in their careers. Anna Vitale Lybrook, CPA, a shareholder of Stoy, Malone & Co., P.C., has been re-elected treasurer of the Ed Block Courage Award Foundation. She also serves as a member of the Executive Committee. The Foundation is dedicated to raising awareness and prevention of child abuse, and to ultimately break the cycle of abuse.

JANUARY 2015

FIRM NOTES Askey, Askey & Associates, CPA, LLC, has announced a

Gross, Mendelsohn and Associates has been named to INSIDE

strategic business combination with the accounting practice

Public Accounting’s “IPA 200 Fastest-Growing,” a list of the

operated by E. Wayne Richardson, CPA, PA, located in Waldorf.

fastest-growing firms in the country. The firm also ranked No.

This combination will significantly expand the accounting

160 on INSIDE Public Accounting’s “IPA 200,” a list of the

and tax services and continue to build the strengths of both

largest CPA firms in the country.

companies. The strategic business combination will continue business operations as Askey, Askey & Associates, CPA, LLC.

U.S. News – Best Lawyers® has awarded Miller, Miller & Canby a “First Tier” ranking in the Washington, D.C., area in Eminent

Berman Goldman & Ribakow LLP is celebrating its 75th

Domain and Condemnation Law for a third consecutive year.

anniversary. The three founding partners opened an office in

First Tier is the highest rank given. The rankings are based on a

the District of Columbia in 1953 to service the growing practice

comprehensive process that includes the collection of client and

in Washington and suburban Maryland and Virginia. Later, in

lawyer evaluations, rigorous peer review from leading attorneys

1973, Berman Goldman & Ribakow merged the Baltimore and

in the field, and review of additional information provided by

D.C. offices into their own building in Columbia, Md. All three

law firms as part of a formal submission process.

of the partners have since passed away, but their precepts of rendering the highest quality service to clients live on in their

Miller, Miller & Canby has gained accreditation from the

name and in the present partners and staff. The firm maintains

Department of Veterans Affairs to provide counsel and

its presence in Columbia to this day.

representation to veterans and their families. The firm advises veterans on the levels of financial benefits for which they may

Bormel, Grice & Huyett, P.A., has been named one of the Best

qualify and guides them through the often complex regulations

Accounting Firms to Work For in 2014. The annual list of “Best

and claims process.

Accounting Firms to Work For” was created by Accounting Today and Best Companies Group.

Smith Elliott Kearns & Company, LLC, has been included in INSIDE Public Accounting’s fifth annual ranking of the nation’s

Councilor, Buchanan & Mitchell, PC, has expanded its

largest accounting firms, the IPA 200. The list is one of the

professional services division. In addition to tax planning and

most comprehensive lists of its kind and is the most current

preparation, auditing, and accounting, CBM offers a wide range

snapshot of the financial and operational health of accounting

of services to help professional service providers meet their

firms. SEK&Co ranks as the 179th largest accounting firm in the

short-term goals and attain long-term growth and sustainability.

United States.

The firm also has expanded its not-for-profit practice. It now boasts nine partners and more than 50 professional and administrative staff. Dixon Hughes Goodman has been named one of Greater Washington’s Healthiest Employers by the Washington Business Journal. At an awards luncheon on Sept. 18, the firm was named one of the top 10 healthiest employers in Washington, D.C., among companies of its size. Dixon Hughes Goodman has been named the Tech Council of Maryland’s 2014 Outstanding Place to Work. The award focuses on passion and creating a positive and productive work environment.

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. 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:

MEMBER SERVICES WELCOME, NEW AND REINSTATED CPA CANDIDATE MEMBERS! ANNE ARUNDEL CHAPTER JEAN M. CUBELLO LYNITA MILLER CAPITAL AREA CHAPTER RAFAEL B. CABELLO LAILAH E. MADISON WIESAM SHEIKHI AMY J. STAKE CENTRAL MARYLAND CHAPTER RYAN T. ARMACOST SALOMEY A. AWUKU

SUNG CHOI BRISTOL COLE SAMANTHA G. DEANGLER JAMES E. HENDERSON JR. PHILIP KAHN NOREEN KAMINSKI ADAM K. LANGE VICTORIA A. MCNAIR, BS MATTHEW A. MILLER LYNAE MORRISON JENNIFER C. NARGIZ MAYA C. PAGGETT

AMY J. PRICE ARUSHI SACHDEV

OUT OF STATE KATHY L. GOINS

EASTERN SHORE CHAPTER MATTHEW R. BOSSLE MID-MARYLAND CHAPTER EMILY B. DEMMONS SOUTHERN MARYLAND CHAPTER TONYA V. PRESSLEY

WELCOME, NEW AND REINSTATED MACPA MEMBERS! ANNE ARUNDEL CHAPTER DANIEL J. BORCIK, CPA MIMI L. DAVIS, CPA MBAYANG D. DIOP, CPA, MBA JOHN J. DOWD, CPA WINSTON A. D’SOUZA, CPA, CGMA, MBA BRIAN P. FLOOD, CPA, MBA NICOLE HAMRICK, CPA GARY D. HELDT JR, CPA CHARLES S. HOWE, CPA THIT M. LWIN, CPA ROBERT MORRIS, CPA ALFRED A. PIETSCH, CPA CARMEN G. PRINSTON, CPA ANNE M. SESSO, CPA JAMES B. STITCHER, CPA, MBA ANGELA M. TREFF, CPA, CFP

CALEB J. STACK, CPA THOMAS P. STEELEY JR., CPA ELLYN B. TANENBERG, CPA, JD, ESQ. DEREK TORTON, CPA JITANSHU S. TRIVEDI, CPA, MBA, MSC JON T. WOLZ, CPA MINGFEI ZHANG, CPA

CENTRAL MARYLAND CHAPTER RANDY M. ALLEN, CPA LEONARD M. AUMILLER, CPA AMY S. BALDWIN, CPA RACHEL M. BAUDER, CPA CHRISTINA M. BELTRAM, CPA JEFF M. CARTER, CPA LESLIE M. CORNELIUS, CPA THOMAS J. CROUCH, CPA, CAPITAL AREA CHAPTER MS TRACY L. BLACK, CPA, MBA LEIB DAVIDS, CPA KEVIN S. BURKHOLDER, CPA NEIL H. DEMCHICK, CPA, CVA, CBA, CRRA NORMAN L. CARTER, CPA DANIEL C. DIRESO, CPA ANTHONY J. COLA, CPA JOSEPH T. GARDEMAL III, CPA, ABV, DEBORAH L. DOBROVOLNY, CPA CVA JUSTIN DORSETT, CPA EDWARD J. GILHOOLY, CPA ASHLEY DOWN, CPA KAREN Q. HAWKINS, CPA, CGFM MELANIE M. EDMONDSON, PETER J. HOGARTH, CPA, MSA CPA ELENA HOXHA, CPA MARTINA D. EVANS, CPA ANDREW J. JAIME, CPA ALLISON D. EVERLY, CPA INGRID P. JOHN, CPA, MBA PAUL M. GERATY, CPA MAGLOIRE A. KEITA, CPA STEVEN D. GRAF, CPA BARBARA M. KROMER, CPA JOSEPH A. HAEFFNER, CPA NERLEY LAUSIER, CPA, MFA DENIZEJOICE D. HAMMOND, CAITLIN H. MIGLIORINI, CPA CPA WILLIAM OLUKOYA, CPA BONITA B. HEARN, CPA SUZANNE PAHOLSKI, CPA MONTEL R. HILL, CPA DANIEL S. ROSEFELT, CPA, J.D. KAREN D. HOLWECK, CPA NATALIE SAUNDERS, CPA JESSICA V. HUGHES, CPA PATRICK L. SOUTHERLAND, CPA ELIZABETH HYMEL, CPA

SUSAN M. JETER, CPA RONALD M. KATZEN, CPA RICHARD J. KUCZAK, CPA SHARON M. LEE, CPA DAVID D. LOUDEN, CPA NICOLE B. LUKASIK, CPA JOHN T. MACK, CPA ASHLEY A. MARTIN, CPA JAMES C. MCINTYRE, CPA RICHARD S. MELLO, CPA KEVIN A. MICHEL, CPA, MBA, CMA, CFM PATRICIA A. MILEY, CPA RUSSELL C. MONCURE, CPA, MBA, CGMA PATRICIA S. MORLEY, CPA BARBARA H. MORRIS, CPA SHATERRA M. NEELY, CPA JUNGWHAN T. OH, CPA REGINALD E. PALMORE, CPA CLIFF PETENBRINK, CPA BERNADETTE T. POEHLER, CPA LAURA J. QUINN, CPA SETH D. RABINOVITZ, CPA RICHARD A. RATE JR., CPA JOHN R. RESPESS, CPA, MBA EMMA T. ROMERO, CPA IRA ROSENBLOOM, CPA HOLLY L. SHIPLEY, CPA MICHAEL R. SMITH, CPA LINDA L. STAPF, CPA DAVID B. TERRY, CPA SHAYDRA TISDALEROBINSON, CPA PHILIP N. WARSAL, CPA, MBA ROBERT G. WATCHORN, CPA JOHN C. WELLING, CPA KATHRYN WINWARD, CPA TIANA D. WYNN, CPA RICHARD N. YALE, CPA

EASTERN SHORE CHAPTER TED A. BROOKS, CPA MONICA R. GRAVES, CPA LESLI E. LATORRE, CPA KATIE M. ROUSE, CPA KAREN L. TOBAT, CPA MID-MARYLAND CHAPTER THERESA M. BECKER, CPA EARL CREHAN III, CPA MANO S. KOILPILLAI, CPA DAVID T. MCGINLEY, CPA LISA M. MORGAN, CPA RONALD E. PECK JR., CPA EMILY S. RADAKER, CPA TINA M. SEYMOUR, CPA ERIC C. SMITH, CPA, MBA MELANIE L. THOM, CPA SOUTHERN MARYLAND CHAPTER REGINA D. CHAVIS, CPA AMANDA C. HANSON, CPA WESTERN MARYLAND RYAN M. WOOLSLAYER, CPA OUT OF STATE ANGOSOM H. ABRAHA, CPA, EA AND MST MARIO BECCONE, CPA GOKSEN BUPP, CPA JOEL W. COHN, CPA JEFFREY M. DALEY, CPA KEVIN ELLIS, CPA ANTHONY F. GIOFFRE, CPA GARY MERRON, CPA KRISTIE A. STRUBECK, CPA, CRPC MATTHEW C. VARVARIS, CPA

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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!

Get involved GET TO KNOW OUR NYPN ADVISORY BOARD AND FIND OUT FIRST-HAND WHAT WEâ&#x20AC;&#x2122;RE ALL ABOUT: Chair: Debra Hale, Weil, Akman, Baylin & Coleman, P.A.: debra. hale@wabccpas.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 JANUARY 2015

CLASSIFIEDS mergers & acquisitions QUALITY CPA FIRM WISHES TO ACQUIRE PRACTICE OR ACCOUNTS in Baltimore/Washington/

job openings CPA firm in Queen Anne’s County, Maryland, currently has a

Annapolis area, or possible association with retirement-minded

SEASONAL TO FULL-TIME CPA OR CPA CANDIDATE POSITION available. Applicant is

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

required to have at least 5 years of experience in personal and

410.539.7100, or File No. 63-87.

corporate tax preparation and financial statement write-up

SANTOS POSTAL & COMPANY, PC, a nationally

work.

recognized CPA firm located in Rockville, MD, is enhancing its

Send resume and salary requirements to accountantopening@

organic growth through the acquisition or merger of existing

yahoo.com.

practice or accounts in the Washington metropolitan area. Reply in confidence to File No. 28-91.

THINKING OF SELLING YOUR PRACTICE? Accounting Practice Sales is the leading marketer of tax and accounting practices in North America. We have a large pool of buyers, both individuals and firms, looking for practices to purchase. We also have the experience to help you find the right fit for your firm, negotiate the best price and terms and get the deal done. We welcome the opportunity to talk to you about our risk-free and confidential services. For more information please call Bradley Holmes with the APS Holmes Group at 1-800-397-0249 or email Bradley@apsleader.com.

INTERESTED IN BUYING A PRACTICE? See local and nationwide listings at www.AccountingPracticeSales.

EXPERIENCED AUDIT AND ACCOUNTING SUPERVISOR/MANAGER WANTED for a CPA firm located in Baltimore County. You will be responsible for preparation and review of audit, compilation and review work 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.

com and register for free email updates or call us at 1-800-397-

Requirements:

0249.

- BS/BA in Accounting or related field;

MARYLAND PRACTICES FOR SALE: Annapolis

- 7 to 15 years of experience preferably in public accounting;

MD CPA Partnership Opportunity with revenues for sale between $375,000 and $600,000; loyal client base of high-net-worth individuals as well as large number of businesses. Strong tax experience a must. For more information call us at 800-3970249. View listing details and register for free email updates at www.AccountingPracticeSales.com.

RETIRE/SEMI-RETIRE NOW! RESURRECCION CPA FIRM, LLC:

CPA/19yrs/

- team player; - excellent verbal and written communication skills; - ProSystem Engagement a plus. Email resume with cover letter and salary requirements to: tdee1969@yahoo.com.

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

Towson-looking to grow my quality client base (tax, accounting,

accounting services providers in the United States. With

payroll, etc.) by acquiring some or all your accounts ASAP so you

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

can retire/semi-retire now. Let’s discuss-c:443.765.2775.

serve the 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.

STATEMENT

We are seeking to hire audit and tax professionals to join our team nationwide. The ideal candidates will have at least two

WANT TO SUBMIT A CLASSIFIED AD?

years of experience in a tax and audit environment. There are

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

opportunities for highly motivated individuals to establish their career and to position themselves for professional growth and development. 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.

ACCOUNTANT- ROCKVILLE CPA FIRM SEEKS CPA with 8 years recent public accounting

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

experience to work part-time. Individual will prepare mainly individual income tax returns. Experience with UltraTax CS & QuickBooks a plus. This is a permanent part-time position with flexible hours. Please send resume to monteloeb@ mloebandassoc.com.

JANUARY 2015

Upcoming Events & Courses DATE

COURSE TITLE

CPE

TIME

MEMBER

NON-MEM.

EVENT ID

LOCATION

ACCOUNTING & AUDITING 1/9/15

WEBCAST: Engagement Letters - A First Line of Defense

12 p - 1 p

$39

11W010

Online Webcast, Internet

1/21/15

CPA Firm M&A Workshop: Comprehensive Options for a Sale, Merger, or Independence

8 a - 11:30 a

$75

$150

111003

MACPA Towson Center, Towson

1/22/15

Incurred Cost Audits of Government Contractors and Subcontractors

8 a - 3:30 p

$295

$395

110044

MACPA Columbia Center, Columbia

1/30/15

Interpreting the New Revenue Recognition Standard: What All CPAs Need to Know

8 a - 11:30 a

$150

$200

111217A

MACPA Columbia Center, Columbia

1/30/15

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

12 p - 3:30 p

$150

$200

111218A

MACPA Columbia Center, Columbia

2/9/15

AACC: Health Care Reform

2p-6p

$40

$50

140602

2/27/15

GASB Statement No. 68 Audit and Accounting Workshop

8 a - 11:30 a

$150

$200

111219A

MACPA Columbia Center, Columbia

2/27/15

Frequent Frauds Found in Governments

12 p - 3:30 p

$150

$200

111220A

MACPA Columbia Center, Columbia

2015 GOVERNMENT AND NOT-FOR-PROFIT CONFERENCE

8a-5p

$250

$350

121000

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

5/18/15

Auditing Employee Benefit Plans

8 a - 3:30 p

$295

$395

111212A

The Loyola Graduate Center, Timonium

5/19/15

AICPA’s Annual Update: Top 12 Governmental and Not-forProfit Accounting and Auditing Issues Facing CPAs

8 a - 3:30 a

$295

$395

111213A

Mount Continuing Studies Center, Frederick

4/17/15

TBD

BUSI N E SS & I N D US T RY 1/5/15

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

8 a - 3:30 p

$330

$480

130024

The Loyola Graduate Center, Timonium

1/5/15

WEBCAST: Microsoft Office 2010: Excel, Word, Outlook and Windows 7 Tips

11 a - 12 p

$39

17W020

Online Webcast, Internet

1/6/15

WEBCAST: Blog 101: First Steps to Stardom

12 p - 1 p

$39

17W091

Online Webcast, Internet

1/9/15

WEBCAST: Engagement Letters - A First Line of Defense

12 p - 1 p

$39

11W010

Online Webcast, Internet

1/14/15

Establishing an Effective Compliance Program (GVC)

8 a - 10 a

$40

$50

184019

MACPA Columbia Center, Columbia

1/20/15

Applying Ethics in the Real World

8 a - 11:30 a

$115

$215

110045

The Loyola Graduate Center, Timonium

1/20/15

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

8 a - 11 a

$105

17W0034

1/22/15

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

8 a - 12 p

$200

$250

171004

The Loyola Graduate Center, Timonium

1/29/15

WEBCAST: The Eight Hour MBA

9a-5p

$245

17W143

Online Webcast, Internet

STATEMENT

DATE

COURSE TITLE

CPE

TIME

MEMBER

NON-MEM.

EVENT ID

LOCATION

1/30/15

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

12 p - 3:30 p

$150

$200

111218A

MACPA Columbia Center, Columbia

1/30/15

WEBCAST: Brand You: How to be a leader and boost your career with a little help from social media

1p-2p

$39

17W111

Online Webcast, Internet

1/30/15

WEBCAST: Twitter 101: Changing Your World 140 Characters at a Time

2p-3p

$39

17W112

Online Webcast, Internet

2/3/15

WEBCAST: Key Financial and Economic Issues Facing the Financial Executive

11 a - 1 p

$79

17W147

Online Webcast, Internet

2/12/15

WEBCAST: From Technical Expert to Financial Leader: How to Make a Critical Leap in Your Career Development

11 a - 1 p

$79

17W145

Online Webcast, Internet

2/16/15

WEBCAST: Twitter 101: Changing Your World 140 Characters at a Time

10 a - 11 a

$39

17W118

Online Webcast, Internet

2/19/15

WEBCAST: Linkedin 101- Basics and Beyond

2p-3p

$39

17W121

Online Webcast, Internet

2/20/15

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

8 a - 3:30 p

$330

$480

130026

MACPA Columbia Center, Columbia

2/24/15

WEBCAST: Key Financial and Economic Issues Facing the Financial Executive

8 a - 10 a

$79

17W123

Online Webcast, Internet

2/26/15

WEBCAST: Microsoft Office 2010: Excel, Word, Outlook and Windows 7 Tips

12 p - 1 p

$39

17W021

Online Webcast, Internet

3/24/15

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

8 a - 3:30 p

$330

$480

130027

MACPA Columbia Center, Columbia

3/25/15

WEBCAST: Microsoft Office 2010: Excel, Word, Outlook and Windows 7 Tips

2p-3p

$39

17W022

Online Webcast, Internet

3/26/15

Financial Leaders Forum: Staying in the C-Suite: 10 Skills to Keep You There

8 a - 12 p

$200

$250

171005

MACPA Columbia Center, Columbia

3/27/15

Ethics Update for CPAs in Business

$115

$215

111002

TBD

2015 GOVERNMENT AND NOT-FOR-PROFIT CONFERENCE

8a-5p

$250

$350

121000

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

4/24/15

2015 FORENSIC VALUATION CONFERENCE

8a-5p

$279

$379

121013

Hilton Baltimore BWI Airport, Linthicum

4/29/15

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

8 a - 3:30 p

$330

$480

130028

MACPA Columbia Center, Columbia

4/30/15

Outlook Update and Best Practices for CPAs

12 p - 3:30 p

$150

$200

130030

MACPA Columbia Center, Columbia

2015 BUSINESS AND INDUSTRY CONFERENCE

8a-5p

121011

Turf Valley Resort & Conference Center, Ellicott City

Auditing Employee Benefit Plans

8 a - 3:30 p

$295

$395

111212A

The Loyola Graduate Center, Timonium

8a-5p

$279

$379

121013

Hilton Baltimore BWI Airport, Linthicum

8 a - 3:30 p

$295

$395

111212A

The Loyola Graduate Center, Timonium

4/17/15

5/7/15

5/18/15

B VLS 4/24/15

2015 FORENSIC VALUATION CONFERENCE

E MPLOYE E B E N E F I T S 5/18/15

Auditing Employee Benefit Plans

E TH I C S 1/9/15

WEBCAST: Applying Ethics in the Real World

12 p - 3:30 p

$125

17W096

Online Webcast, Internet

1/20/15

Applying Ethics in the Real World

8 a - 11:30 a

$115

$215

110045

The Loyola Graduate Center, Timonium

2/9/15

WEBCAST: Applying Ethics in the Real World

8 a - 11:30 a

$125

17W116

Online Webcast, Internet

3/27/15

Ethics Update for CPAs in Business

$115

$215

111002

TBD

DATE

COURSE TITLE

CPE

TIME

MEMBER

NON-MEM.

EVENT ID

LOCATION

FINANCIAL PLANNING 1/6/15

Update: Changes Maryland Elder Law (PFP Study Group)

9 a - 11 a

$20

$100

182063

MACPA Towson Center, Towson

1/15/15

The Complete Guide to the Preparation of Form 1041

8 a - 3:30 p

$295

$395

110036

MACPA Columbia Center, Columbia

1/15/15

WEBCAST: The Complete Guide to the Preparation of Form 1041

8 a - 3:30 p

$245

17WL31

LIVE- ONLINE WEBCAST, INTERNET

1/16/15

The Complete Guide to Preparing Forms 706 and 709

8 a - 3:30 p

$295

$395

110037

MACPA Columbia Center, Columbia

1/16/15

WEBCAST: The Complete Guide to Preparing Forms 706 and 709

8 a - 3:30 p

$245

17WL32

LIVE- ONLINE WEBCAST, INTERNET

1/21/15

CPA Firm M&A Workshop: Comprehensive Options for a Sale, Merger, or Independence

8 a - 11:30 a

$75

$150

111003

MACPA Towson Center, Towson

F R A U D & FOR E N S I C 2/4/15

Forensic Accounting Investigations: Views from the Field - FVS Speaker Series

8:30 a - 10:30 a

$50

$60

182062

MACPA Columbia Center, Columbia

2/27/15

Frequent Frauds Found in Governments

12 p - 3:30 p

$150

$200

111220A

MACPA Columbia Center, Columbia

4/24/15

2015 FORENSIC VALUATION CONFERENCE

8a-5p

$279

$379

121013

Hilton Baltimore BWI Airport, Linthicum

G O VER N M EN T / N O T- F O R - P R O F IT 1/6/15

Update: Changes Maryland Elder Law (PFP Study Group)

9 a - 11 a

$20

$100

182063

MACPA Towson Center, Towson

1/14/15

Establishing an Effective Compliance Program (GVC)

8 a - 10 a

$40

$50

184019

MACPA Columbia Center, Columbia

2/27/15

GASB Statement No. 68 Audit and Accounting Workshop

8 a - 11:30 a

$150

$200

111219A

MACPA Columbia Center, Columbia

2/27/15

Frequent Frauds Found in Governments

12 p - 3:30 p

$150

$200

111220A

MACPA Columbia Center, Columbia

2015 GOVERNMENT AND NOT-FOR-PROFIT CONFERENCE

8a-5p

$250

$350

121000

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

AICPAâ&#x20AC;&#x2122;s Annual Update: Top 12 Governmental and Not-forProfit Accounting and Auditing Issues Facing CPAs

8 a - 3:30 a

$295

$395

111213A

Mount Continuing Studies Center, Frederick

4/17/15

5/19/15

G O VER N M EN T C O N T R AC T I N G 1/14/15

Establishing an Effective Compliance Program (GVC)

8 a - 10 a

$40

$50

184019

MACPA Columbia Center, Columbia

1/22/15

Incurred Cost Audits of Government Contractors and Subcontractors

8 a - 3:30 p

$295

$395

110044

MACPA Columbia Center, Columbia

MAN A G E M EN T & L E AD E R S H I P 1/5/15

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

8 a - 3:30 p

$330

$480

130024

The Loyola Graduate Center, Timonium

1/6/15

WEBCAST: Seven Secrets of Successful Business Communication

1p-5p

$125

17W092

Online Webcast, Internet

1/6/15

Update: Changes Maryland Elder Law (PFP Study Group)

9 a - 11 a

$20

$100

182063

MACPA Towson Center, Towson

1/7/15

WEBCAST: Master Coach and Mentor - Valuing Your Emotional Intelligence

11 a - 12 p

$39

17W093

Online Webcast, Internet

1/7/15

WEBCAST: The Finance and Accounting Organization as Strategist and Partner to the Business

2p-4p

$79

17W094

Online Webcast, Internet

STATEMENT

DATE

COURSE TITLE

CPE

TIME

MEMBER

NON-MEM.

EVENT ID

LOCATION

1/8/15

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

1p-4p

$105

17W095

Online Webcast, Internet

1/13/15

WEBCAST: Find a Need and Fill It: Your Key to Business Development

2p-4p

$79

17W097

Online Webcast, Internet

1/14/15

WEBCAST: Getting Things Done - Engaging People to Execute Effectively

2p-4p

$79

17W098

Online Webcast, Internet

1/14/15

Establishing an Effective Compliance Program (GVC)

8 a - 10 a

$40

$50

184019

MACPA Columbia Center, Columbia

1/15/15

WEBCAST: High Performance Time Management: Boosting Your Personal Energy

1p-3p

$79

17W099

Online Webcast, Internet

1/16/15

WEBCAST: How the Best Financial Executives Create High Performance Organizations

2p-4p

$79

17W100

Online Webcast, Internet

1/19/15

WEBCAST: Leadership and Generations: What Are They Thinking?

12 p - 3:30 p

$125

17W101

Online Webcast, Internet

1/20/15

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

8 a - 11 a

$105

17W0034

Online Webcast, Internet

1/20/15

WEBCAST: Get out of the Casket and up to the Podium

9 a - 11 a

$79

17W102

Online Webcast, Internet

1/21/15

CPA Firm M&A Workshop: Comprehensive Options for a Sale, Merger, or Independence

8 a - 11:30 a

$75

$150

111003

MACPA Towson Center, Towson

1/21/15

WEBCAST: Listening For Leaders: Ask the Question, Discover the Need, Win the Trust

12 p - 3:30 p

$125

17W103

Online Webcast, Internet

1/22/15

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

8 a - 12 p

$200

$250

171004

The Loyola Graduate Center, Timonium

1/22/15

WEBCAST: MacGyvering: The Art of Being Resourceful in a Crisis

2p-4p

$79

17W104

Online Webcast, Internet

1/22/15

WEBCAST: FLF: Why Don’t We Say Yes? 21st Century Negotiating

8 a - 12 p

$200

17WL33

LIVE- ONLINE WEBCAST, INTERNET

1/23/15

WEBCAST: Strategic Focus for your practice: It’s not just bookkeeping anymore

9 a - 12 p

$105

17W105

Online Webcast, Internet

1/26/15

WEBCAST: Motivating and Retaining Your Top Performers

12 p - 3 p

$105

17W106

Online Webcast, Internet

1/27/15

WEBCAST: Personality Styles in the Workplace

12 p - 3 p

$105

17W107

Online Webcast, Internet

1/28/15

WEBCAST: Succession Planning Developing Tomorrow’s Business Leaders Today

2p-4p

$79

17W108

Online Webcast, Internet

1/28/15

WEBCAST: Public Speaking: How to Speak with Presence

1p-2p

$39

17W109

Online Webcast, Internet

1/29/15

WEBCAST: Selling for CPAs: Using Your Problem-Solving Skills to Promote Profitable Business Growth

12 p - 2 p

$79

17W110

Online Webcast, Internet

1/29/15

WEBCAST: The Eight Hour MBA

9a-5p

$245

17W143

Online Webcast, Internet

2/2/15

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

9 a - 11 a

$79

17W113

Online Webcast, Internet

2/3/15

WEBCAST: Develop a Positive Work Culture for the iY Generation

2p-3p

$39

17W114

Online Webcast, Internet

2/4/15

WEBCAST: Lean Management in a Lean Economy

11 a - 1 p

$79

17W146

Online Webcast, Internet

2/4/15

Forensic Accounting investigations: Views from the Field - FVS Speaker Series

8:30 a - 10:30 a

$50

$60

182062

MACPA Columbia Center, Columbia

2/5/15

WEBCAST: Slaying the Energy Vampires And Boosting Your Performance

10 a - 12 p

$79

17W115

Online Webcast, Internet

2/12/15

WEBCAST: From Technical Expert to Financial Leader: How to Make a Critical Leap in Your Career Development

11 a - 1 p

$79

17W145

Online Webcast, Internet

2/17/15

WEBCAST: Get out of the Casket and up to the Podium

12 p - 2 p

$79

17W119

Online Webcast, Internet

2/18/15

WEBCAST: Business Development: Distinctions Between Marketing and Sales

10 a - 11 a

$39

17W120

Online Webcast, Internet

2/20/15

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

8 a - 3:30 p

$330

$480

130026

MACPA Columbia Center, Columbia

JANUARY 2015

DATE

COURSE TITLE

CPE

TIME

MEMBER

NON-MEM.

EVENT ID

LOCATION

MANAGEMENT & LEADERSHIP (CONT.) 2/23/15

WEBCAST: Leadership: Coaching to Develop & Empower Accountability, Delegation and Dialogue

12 p - 2 p

$79

17W122

Online Webcast, Internet

2/25/15

WEBCAST: Financial Leadership Unleashed

9 a - 10 a

$39

17W124

Online Webcast, Internet

2/27/15

WEBCAST: Getting Things Done - Engaging People to Execute Effectively

9 a - 11 a

$79

17W126

Online Webcast, Internet

3/2/15

WEBCAST: High Performance Time Management: Boosting Your Personal Energy

9 a - 11 a

$79

17W127

Online Webcast, Internet

3/5/15

WEBCAST: Leadership: Coaching to Develop and Empower Accountability, Delegation and Dialogue

3p-5p

$79

17W128

Online Webcast, Internet

3/9/15

WEBCAST: Transitions to Leadership

10 a - 1 p

$105

17W129

Online Webcast, Internet

3/11/15

WEBCAST: Leadership - Social Media Influence on Decision Making and Time Mgmt

1p-2p

$39

17W130

Online Webcast, Internet

3/12/15

WEBCAST: The Eight Hour MBA

8a-4p

$245

17W131

Online Webcast, Internet

3/16/15

WEBCAST: Selling for CPAs: Using Your Problem-Solving Skills to Promote Profitable Business Growth

8 a - 10 a

$79

17W132

Online Webcast, Internet

3/18/15

WEBCAST: Leadership - Which Style Fits You

2p-3p

$39

17W134

Online Webcast, Internet

3/19/15

WEBCAST: Slaying the Energy Vampires - And Boosting Your Performance

11 a - 1 p

$79

17W135

Online Webcast, Internet

3/23/15

WEBCAST: Master Coach and Mentor - Valuing Your Emotional Intelligence

3p-4p

$39

17W136

Online Webcast, Internet

3/24/15

WEBCAST: Seven Secrets of Successful Business Communication

9a-1p

$125

17W137

Online Webcast, Internet

3/26/15

Financial Leaders Forum: Staying in the C-Suite: 10 Skills to Keep You There

8 a - 12 p

$200

$250

171005

MACPA Columbia Center, Columbia

3/26/15

WEBCAST: Business Development: Distinctions Between Marketing and Sales

4p-5p

$39

17W139

Online Webcast, Internet

3/26/15

WEBCAST: FLF: Staying in the C-Suite: 10 Skills to Keep You There

8 a - 12 p

$200

17WL34

LIVE- ONLINE WEBCAST, INTERNET

3/30/15

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

9 a - 12 p

$105

17W140

Online Webcast, Internet

3/30/15

WEBCAST: Get out of the Casket and up to the Podium

10 a - 12 p

$79

17W141

Online Webcast, Internet

2015 BUSINESS AND INDUSTRY CONFERENCE

8a-5p

121011

Turf Valley Resort & Conference Center, Ellicott City

5/7/15

S PEC I A L I ZE D K N O WL E D G E 1/5/15

WEBCAST: Microsoft Office 2010: Excel, Word, Outlook and Windows 7 Tips

11 a - 12 p

$39

17W020

Online Webcast, Internet

1/9/15

2015 ACCOUNTING EDUCATORS CONFERENCE

8:30 a - 4:30 p

$120

$220

121001

Sheraton Columbia Hotel, Columbia

1/21/15

CPA Firm M&A Workshop: Comprehensive Options for a Sale, Merger, or Independence

8 a - 11:30 a

$75

$150

111003

MACPA Towson Center, Towson

1/29/15

CPA DAY

7:30 a - 1:30 p

181000

Governor Calvert House, Annapolis

2/4/15

Forensic Accounting Investigations: Views from the Field - FVS Speaker Series

8:30 a - 10:30 a

$50

$60

182062

MACPA Columbia Center, Columbia

2/26/15

WEBCAST: Microsoft Office 2010: Excel, Word, Outlook and Windows 7 Tips

12 p - 1 p

$39

17W021

Online Webcast, Internet

3/25/15

WEBCAST: Microsoft Office 2010: Excel, Word, Outlook and Windows 7 Tips

2p-3p

$39

17W022

Online Webcast, Internet

2015 GOVERNMENT AND NOT-FOR-PROFIT CONFERENCE

8a-5p

$250

$350

121000

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

4/17/15

STATEMENT

DATE

COURSE TITLE

CPE

TIME

MEMBER

NON-MEM.

EVENT ID

LOCATION

4/24/15

2015 FORENSIC VALUATION CONFERENCE

8a-5p

$279

$379

121013

Hilton Baltimore BWI Airport, Linthicum

5/4/15

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

9 a - 12 p

$105

17W142

Online Webcast, Internet

5/4/15

The Anticipatory CPA - The BLI Author Series with Dan Burrus

9 a - 12:30 p

$195

$295

191014

Hilton Baltimore BWI Airport, Linthicum

1/8/15

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

8a-4p

$300

17WL30

LIVE- ONLINE WEBCAST, INTERNET

1/8/15

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

8a-4p

$350

$450

211002

Loyola University Maryland Graduate Ctr Columbia Campus, Columbia

CAC: State Tax Update

8 a - 12 p

$60

$70

140501

Johns Hopkins University - Montgomery County Campus, Rockville

1/12/15

AACC: Multi-State Tax Update

2p-6p

$40

$50

140601

Blue Dolphin Seafood Bar & Grill, Gambrills

1/15/15

The Complete Guide to the Preparation of Form 1041

8 a - 3:30 p

$295

$395

110036

MACPA Columbia Center, Columbia

1/15/15

WEBCAST: The Complete Guide to the Preparation of Form 1041

8 a - 3:30 p

$245

17WL31

LIVE- ONLINE WEBCAST, INTERNET

1/16/15

The Complete Guide to Preparing Forms 706 and 709

8 a - 3:30 p

$295

$395

110037

MACPA Columbia Center, Columbia

1/16/15

WEBCAST: The Complete Guide to Preparing Forms 706 and 709

8 a - 3:30 p

$245

17WL32

LIVE- ONLINE WEBCAST, INTERNET

1/29/15

CPA DAY

7:30 a - 1:30 p

181000

Governor Calvert House, Annapolis

TAX

1/9/15

T E C HN OL OG Y 1/20/15

QuickBooks 2013 Comprehensive Training

8 a - 3:30 p

$660

$810

130036

MACPA Columbia Center, Columbia

2/13/15

WEBCAST: The Rise of the Digital CPA

11 a - 12 p

$39

17W144

Online Webcast, Internet

2/25/15

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

8 a - 3:30 p

$330

$480

130025

MACPA Columbia Center, Columbia

3/24/15

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

8 a - 3:30 p

$330

$480

130027

MACPA Columbia Center, Columbia

4/29/15

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

8 a - 3:30 p

$330

$480

130028

MACPA Columbia Center, Columbia

4/30/15

Word Productivity Features and Time-Saving Tips

8 a - 11:30 a

$150

$200

130029

MACPA Columbia Center, Columbia

4/30/15

Outlook Update and Best Practices for CPAs

12 p - 3:30 p

$150

$200

130030

MACPA Columbia Center, Columbia

JANUARY 2015

Find interns here.

Announcing the all-new website connecting accounting students, CPA candidates, and the organizations looking for talent. VISIT TOMORROWâ&#x20AC;&#x2122;S CPA ONLINE:

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

USS

UNIVERSAL SOFTWARE SOLUTIONS, INC. TEL: (410) 358-8851

P. O. BOX 5866

www.ussi-md.com

BALTIMORE MD 21282-5866

MARYLAND PERSONAL PROPERTY SOFTWARE 2015 EDITION

Prepares and Prints Maryland Personal Property Tax Returns Features:        

             

 

Multi-User-Network Compatible.

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

Field marking for review and verification.

Data files can be stored on any drive/folder. Error checking routines prevent common mistakes. On screen totals - Updated with each entry. Prints government approved returns on plain paper: Form 1—Corporations, LLC’s, LLP, etc.; AT3-51— Partnerships and Sole Proprietorships; AT3-75— Bank, Saving & Loans and Trust Companies, AT3-53 Rental Property. Multiple location capability for all entities. Assessment calculations with user adjustable tax rates and assessments. On screen print preview. Print from print menu or Preview screen. Print options - Entire return, Batched returns, single and multiple pages. Prepares and prints a collated signature ready return. Prints Extensions-Selected Client(s) or all Unfiled Returns. Prints client lists - All clients, filed returns and unfiled returns. Information saved and updated annually. Easy to use Multi-Featured word processor or link to MS Word for full feature processing. Word processor can be used for Form letters, Transmittals, Filing Instructions, Billing, etc. User friendly - Screens simulate actual return. Unlimited number of clients. Concise, easy-to-read user’s manual. Automatic Internet updates. Free unlimited support.

SPECIAL 50% DISCOUNT FOR FIRST TIME USERS:    

$125.00 PLUS 6% MD sales tax. This is a full working edition except it does not convert prior year data. Enjoy the time saving and ease of use. Print professional looking returns.

For more information call : 410-358-8851

2015 Edition — $250.00 plus 6% MD Sales Tax.

Please send one copy of MD “TPP” - 2015 edition to:

N a m e _____________________________________________________________________________________________ C o m p a n y_________________________________________________________________________________________ Ad d r e s s__________________________________________________________________________________________ C i t y/ S t a t e / Z i p __________________________________________________Telephone_________________________

Md residents: Add 6% sales tax.

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

THE BLI AUTHOR SPEAKER SERIES

“The Anticipatory CPA” WITH DAN BURRUS 5/4/15 HILTON BALTIMORE BWI AIRPORT

191014