The WashingtonCPA March/April 2013 by Washington Society of CPAs

washington

CPA March/April 2013

Volume 55, Number 5

Tangible Property

Taxation of Marijuana Businesses Ethics ... and Advocacy 2013-2014 Board of Directors Nominees

www.wscpa.org

WashingtonCPA March/April 2013

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CONTENTS

wa s h i n g t o n

CPA www.wscpa.org • memberservices@wscpa.org Tel (425) 644-4800 • Toll free in WA (800) 272-8273 Fax (425) 562-8853 902 140th Ave NE Bellevue, WA 98005-3480

BOARD OF DIRECTORS Mary D. Marino Chair Glenn G. Wisegarver Vice Chair Lucy L. Liu Treasurer William A. Simer Secretary Mark A. Hugh Immediate Past Chair Richard E. Jones President & CEO

Peter E. Doubleday Peter R. E. Miller Joyce G. Etheridge David J. Miniken Dean A. Granholm Nerelys M. Ortiz Robert L. Grannum Sharon K. Philpott Waylon P. Jones Andrew L. Read Marinilka B. Kimbro Rosemary Sanchez Karissa A. Marker David E. Trujillo CHAPTER BOARD CHAIRS Richard C. Meyer, Jr. Bellevue Area Joseph W. Crowther Central Joseph M. Reid Central — North Seattle Jack W. Curnow Northwest Kathryn A. Dixon Olympia — Peninsula — Pierce County Mary H. Hawkins Sammamish Valley Jeffrey A. May Seattle Rachel T. Sites Snohomish County Michael K. Briggs South King County John Vogel South Sound Industry Matthew E. Lee Southwest Lucas M. Zarecor Spokane — Wenatchee Kyle S. Meissner Yakima

Jeanette Kebede

Editor

Tangible Property Regulations 6

Understanding—and Preparing for— the New Tangible Property Regulations

10 2013-2014 Board of Directors Nominees 13 Ethics ... and Advocacy 14 Taxation of Marijuana Businesses 16 If I Buy an iPad, Can I Ditch My PC?

The WashingtonCPA is published by the Washington Society of Certified Public Accountants for its members. Views and opinions appearing in this publication are not necessarily endorsed by the WSCPA.

23 CPE Series for CFOs and Aspiring CFOs

The products and services advertised in The Washington CPA have not been reviewed or endorsed by the Washington Society of Certified Public Accountants, its board of directors or staff.

24 Dating and Student Loans?

The WashingtonCPA (USPS 009754) is published six times annually by the Washington Society of Certified Public Accountants, 902 140th Avenue NE, Bellevue, WA 98005-3480. $12 of members’ annual dues goes toward a subscription to The WashingtonCPA. Periodicals postage paid at Bellevue, Washington and additional mailing offices.

Departments

Cover photo: © Getty Images/AIMSTOCK

Leadership Lens

Financial Literacy

POSTMASTER: Send address changes to The WashingtonCPA, c/o WSCPA, 902 140th Avenue NE, Bellevue, WA 98005-3480.

News Briefs

CPE Digest / Conferences

13 Advocacy

Education and Events

18 Events

Registration Form

18, 29 Photo Album

Classified Ads

Member Profile

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Foundation & CPAPAC

WashingtonCPA March/April 2013

Leadership lens

Strategic Planning in a Complex and Rapidly Changing World By Rich Jones, CPA, CGMA, President & CEO

very organization needs to periodically engage in a strategic planning process and use the results of that exercise to allocate its resources to support the initiatives it believes will best lead to success. As the world has become more complex and the rate of change seems to increase exponentially, strategic planning needs to happen more frequently and plans need to be continually adjusted to changing market conditions. Think for a moment about businesses or industries that have had to adapt their business models due to dramatic changes in the marketplace. For example, think about the challenges created by the internet for businesses such as newspapers, book stores, publishers, catalog retailers, and music labels. In addition to forcing these businesses to make significant changes to their business models, the Internet has also had an indirect effect on other businesses such as the U.S. Postal Service and overnight delivery companies who find that their customers use many less expensive (often free) ways to provide the same service or value. And free is hard to compete with! Not all disruption in the marketplace is caused by technological advancements. Some can be caused by regulation or legislation. Think about the dilemma of CFOs at hospitals, medical groups, insurance companies, and others engaged in the healthcare field. Their world has become extremely uncertain and many of the regulations that will have a dramatic effect on their businesses have not even been written yet. How would you like to be responsible for the strategic planning for these organizations? I serve on a couple hospital boards and know firsthand how difficult it is to do effective planning in this environment. It is similar to the notion of trying to change a tire on a moving car. Due to the recent recession (which is still affecting most businesses that

WashingtonCPA March/April 2013

managed to survive its devastating impacts), businesses are reevaluating their business models and their value propositions to make sure they are still relevant in today’s economy. The WSCPA is no exception. We are looking at the strategic plan which was developed in 2007,

Members are facing many challenges in their professional careers ...The staff, Board of Directors, and volunteers of the WSCPA are committed to helping you cope with these challenges as well as assisting members with identifying areas of opportunity. and then tweaked in 2012, to see if the plan still works today. We are trying to look out into the future for three to five years and see if what we do today (or can do today) will be helpful in achieving our goals and vision for the future. Here are some of the thoughts we have developed so far through this process: •

•

The Society has nearly 10,000 members and we must determine the right way to leverage each member’s talent and interests in order to achieve all of the Society’s goals. The Society’s very diverse membership is a blessing and a challenge. We need to make sure the Society offers programs that are relevant to each member. The goal of any membership association is to make sure it attracts enough young members to replace existing members as

•

they retire or otherwise leave the membership. During the past several years, the Society has emphasized recruitment and retention of new members under age 30, with good results. However, we need to do this even better in the future. When young professionals join associations, they do so for vastly different reasons than others have in the past. We understand this and will be developing approaches and programs to address the needs of this group. All politics are local, so the Society’s advocacy efforts should be also focused on connecting members with each other and with legislators in their local communities. We have held several facilitated sessions with members to identify ways in which we can enhance the ability of members to meet and work with other CPAs in their communities. This will be a clear focus area for us over the next several years.

Members, whether in public practice or private industry, are facing many challenges in their professional careers. We all know that challenges also create opportunities for those who are able to identify them. The staff, Board of Directors, and volunteers of the WSCPA are committed to helping you cope with these challenges as well as assisting members with identifying areas of opportunity. We will keep you posted, as we work to create a new strategic plan, which we will begin implementing in 2013. If you have suggestions for changes you believe would be beneficial to you and your fellow members, please feel free to share them with me at rjones@wscpa.org.

www.wscpa.org

Leadership lens

“The Times They Are a-Changin’” By Mary Dowling Marino, CPA, CGMA,WSCPA Chair for 2012-13

s I interact with clients, business contacts, and the general public, I sometimes hear comments about the world of finance and accounting that make me smile to myself. Many think that we all operate from a set of immutable, clearlydefined rules about which we have absolute clarity in our understanding and a state of constancy in their application. Take one look at this edition’s articles, and you will see that is a false assumption. This issue’s cover story describes the complexity of the new rules to account for repairs and maintenance. With the release of these regulations in 2011, the IRS has turned the method of accounting for these types of expenses on its head. Even more startling is the article about the role CPAs can play in interpreting the financial nuances of Washington State’s new marijuana law. It is clear from looking at these two issues that the rate at which our profession is evolving continues to pick up momentum. For most first-year staff members in public accounting in the early 1980s, the rules were plainly spelled out. We wore business attire every day and to any event that put us in the public eye. Women in particular were expected to dress in a very specific way that was spelled out in a popular handbook, which is no longer in print. Outright solicitation of clients was strictly forbidden as was most advertising about your firm. Overt recruiting of professionals from other firms was considered morally reprehensible. Training was conducted in person either by the local state society or by your own firm and written assignments were expected as part of that training. The CPE exam was administered in a facility with hundreds of people sitting at long tables monitored by silent proctors and the only tools you were permitted to bring were your pencil and your brain. One had to pass at least two parts of the exam at once before you could start knocking off the

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other sections. We recorded our time by hand on green, columnar work paper and had to foot and cross foot each bi-weekly report to make sure we accounted for every possible moment. When you communicated with clients, the letters and

the participant and CPE providers. However, even as times are changing, some things remain the same. In a recent survey released by the AICPA, three out of four key business decision makers equated CPAs with integrity. More than

Today’s new accountants operate in a world greatly altered by changes in technology and business practices. The environment of 30 years ago—with its restrictions on how a CPA was expected to manage day to day tasks—seems archaic to them. memos were formal, reviewed documents that took time to compose, review, type and mail out. Once they left, you felt that there were at least a few days before you had to think about the matter again. Faxing a document conveyed the height of urgency. Telephone conversations with clients were memorialized with equal formality. While clients were served with all possible speed, the tempo was measured and accepted by both parties. Today’s new accountants operate in a world greatly altered by changes in technology and business practices. The environment of 30 years ago—with its restrictions on how a CPA was expected to manage day to day tasks—seems archaic to them. Today’s CPAs have been educated in a world dominated by technology and their work style clearly reflects that influence. Electronic communication is acceptable and immediate. The lag time between question and answer has sometimes been reduced to the interval it takes to type several keys. Business can be conducted virtually by individuals sitting in their homes, the local coffee shops, or another office across the country. CPE is offered from a variety of sources and in an array of delivery modes. The migration from the physical classroom to the virtual self-study world has been sudden and transformational to

half of those surveyed described CPAs as their most trusted advisor, the highest of all finance professionals. Nearly 70% of business decision makers rely on CPAs for their exceptional competence. The continuity of our credibility is a source of pride to experienced practitioners and a major draw for students and new recruits. The findings would suggest that even though the tools provided by technology and changing business practices have redefined how service is delivered, the underlying attributes of integrity, competence, and ethical behavior have been preserved and will continue to do so as we move into the future. For many CPAs a constant in their professional career has been membership in the state society. Over time, the Society has been a primary source of information about trends, technical matters, and education. In reading Rich Jones’ article this month about strategic planning inside the WSCPA, it is evident that the Society clearly is thinking about the future of the profession and how it can remain relevant to you. We welcome your participation in this process as we all need good direction and clear thinking in order to keep up with the accelerating rate of change. Cue Bob Dylan’s “The Times They Are a-Changin.’” You can contact Mary at mary.marino@ cliftonlarsonallen.com. WashingtonCPA March/April 2013

Cover story

Understanding—and Preparing for— the New Tangible Property Regulations By Rob Grannum, Partner, and Jason Thompson, Senior Manager, Moss Adams LLP

n December 27, 2011, the government issued temporary regulations for Sections 162(a), 168, and 263(a) of the Internal Revenue Code, affecting nearly all taxpayers that own or produce tangible property. These regulations provide sweeping new rules that affect the acquisition, production, and improvement of tangible property. The rules were initially set to be effective for tax years beginning on or after January 1, 2012. However, after much public testimony and commentary, the IRS, late in 2012, issued Notice 2012-73 as well as technical amendments to the temporary regulations, providing for a delay in the effective date to tax years beginning on or after January 1, 2014. This is welcome news for both taxpayers and tax preparers, allowing for the flexibility to implement the regulations in a more thoughtful manner. The new regulations address all phases of a property’s life, from inception to subsequent improvement and finally to asset disposition. Within these three broad phases, topics covered include:

Let’s examine some key areas that will help you understand the new regulations and how to comply with them.

•

Materials and Supplies, Defined

•

Consistent with prior rules, materials and supplies (M&S) must be identified as either incidental or non-incidental to determine when they’re deductible for tax purposes. Incidental M&S are deductible when paid or incurred; non-incidental M&S are deductible when used or consumed. What has changed is that the new regulations define materials and supplies more clearly as tangible property used or consumed in the taxpayer’s business that is not inventory and that is either: • A component acquired to maintain, repair, or improve a unit of tangible property that isn’t acquired as part of any single unit of property; • Fuel, lubricants, water, and similar items that are reasonably expected to be consumed

within 12 months after use begins; A unit of property that has an economic life of 12 months or less after use begins; or A unit of property that has an acquisition cost of $100 or less.

If the M&S is determined to be a rotable or temporary spare part, the taxpayer now has an alternative option in lieu of deducting the cost when the item is disposed. This optional method, however, takes careful planning and consideration to track the part use. In addition to the default methods described above, the taxpayer has the option to capitalize and depreciate the M&S or elect to apply the de minimis rule, subject to the overall ceiling described below.

Can I Make This Easy and Just Apply the De Minimis Rule to My M&S?

The de minimis rule has been one of the major areas of contention within the new regulations, mostly because of its

Acquisition of Tangible Property • • •

Materials and supplies De minimis rule for certain acquisitions Capitalized acquisition costs

Deduct when cost is paid or incurred Incidental M&S Elect to capitalize and depreciate

Improvements to Tangible Property • • •

Unit of property defined Repair versus improvement Routine maintenance safe harbor

Disposition of Tangible Property •

•

Disposition of structural components General asset account elections

WashingtonCPA March/April 2013

Elect out M&S rules and apply de minimis rule

MATERIAL AND SUPPLY

Non-incidental M&S

Deduct when cost is used or consumed If: Rotable / Temporary Spare Part

Deduct when item is disposed

Elect the optional method

www.wscpa.org

Tangible property regulations

With final regulations scheduled to be released in the first half of 2013, taxpayers should carefully consider the potential effects of the rules on their business and accounting practices, even if they don’t pursue early adoption.

limited applicability and low ceiling. Consequently the IRS has identified this rule as an area to address prior to the issuance of final regulations. As it stands now, taxpayers may expense costs under the de minimis rule if: • The taxpayer has an applicable financial statement (AFS); • The taxpayer has a written accounting policy at the beginning of the year; • The taxpayer treats the amounts paid as an expense in its AFS during the year in accordance with the written policy; and • The total amount paid and not capitalized under the de minimis rule is less than or equal to the greater of: o 0.1 percent of the taxpayer’s gross receipts for the year on its federal return o 2 percent of its total depreciation and amor- tization for the taxable year on its AFS. If the taxpayer doesn’t have an AFS, it can’t use the de minimis rule. An AFS includes, among other less common www.wscpa.org

options, an audited financial statement. Even if the taxpayer does have an AFS, the benefit of applying the de minimis rule might be insignificant because of the low ceiling outlined above. So the short answer to this question is probably not. However, as noted above, this is an area the IRS is likely to change when the regulations are issued in final form.

What Costs Do I Need to Capitalize with Respect to the Acquisition or Production of Tangible Property?

The general rule is that taxpayers must capitalize amounts paid to acquire or produce a unit of real or personal property. The costs required to be capitalized include the invoice price, facilitative transaction costs (including appraisal fees, transportation costs, and document prep fees), work performed prior to placing the property in service, and costs incurred for defending or perfecting a title to real or personal property. An exception is available for real property in instances in which the taxpayer incurs costs related to determine whether to purchase a property or which property to purchase. Additionally, employee compensation and overhead costs are deductible.

How Do the New Regulations Affect Property Improvements?

The new regulations will have a significant impact on building owners. One of the biggest changes is the definition of what constitutes a unit of property. Prior to the new regulations, a building (including all structural components) was generally considered one unit of property. Under the new regulations, the IRS has identified the building structure and nine separate systems that make up a building as separate units of property. As a result of this change, the size of the unit of property has significantly decreased, increasing the likelihood of capitalization. The unit of property for machinery and other nonbuilding property is generally based on a functional interdependence test. When determining the unit of property, the taxpayer must understand if the placing in service of one component is dependent on the placing in service of another component. If the answer is yes, then the components are functionally interdependent and constitute one unit of property. The unit of property is important when determining whether an improvement is a repair expense or a capital improvement. There are three tests that must be applied to the unit of property to determine if a capital improvement has occurred: the betterment test, the adaptation test, and the restoration test (collectively known as the BAR test). The improvement would be considered a betterment and capitalized if it fixes a material condition or defect, results in a material addition to the unit of property, or increases the capacity of the unit of property. An adaptation occurs when a property’s new use isn’t consistent with the taxpayer’s intended original use of the property when it was originally placed in service. A restoration includes amounts paid to: • Replace a component of a unit of property, assuming the taxpayer has properly deducted a loss for the component; • Replace a component of a unit of property, assuming the taxpayer has taken into account its WashingtonCPA March/April 2013

Tangible Property regulations

adjusted basis in realizing a gain or loss on the sale or exchange of the component; • Repair damage to a unit of property, assuming the taxpayer has properly adjusted its basis in the property as a result of a casualty loss; • Return the unit of property to its ordinary condition after it deteriorated to a state of disrepair; • Return the unit of property to a “like new” condition after the end of its class life; or • Replace a “major component” or a “substantial part” of the unit of property. While the new regulations don’t provide any bright-line tests when applying the BAR tests to units of property, there are almost 50 examples in the regulations that illustrate the rules. Without bright-line rules, determining whether the improvement is a repair or a capital improvement can be complex because it’s based on the relevant facts and circumstances.

How Can My Organization Benefit from the New Regulations?

Taxpayers have the option of adopting the new regulations—or portions of them—early. Many will delay adopting until they’re required in 2014. However, those taxpayers that have made or will make improvements to buildings may be able to benefit from the regulations now. Until 2012, a taxpayer couldn’t dispose of structural components when removed from service. So, if a taxpayer had a capital improvement to a structural component, say its roof, the taxpayer would begin depreciating its new roof but would continue to depreciate its old roof as part of the original building. That means a taxpayer may have multiple roofs, HVAC systems, or other structural systems being depreciated (over a 39-year period in many instances) even when the original system is no longer in service. Under the new regulations the taxpayer would retire structural

WashingtonCPA March/April 2013

The new rules affect many day-to-day transactions, and it will be critical to understand your accounting practices and document your policies prior to implementation. components of a building and recognize a gain or loss upon disposition (generally a loss). For example, assume a taxpayer replaces the roof of a building that’s been in service for 15 years (depreciated over 39 years). The roof replacement is considered a capital improvement and is properly accounted for. Under the new regulations the taxpayer would recognize a gain or loss on the remaining basis of the original roof. Calculating the value of the disposed structural component can be quite cumbersome and in many instances isn’t specifically separated from the other components in the original building. Many taxpayers leverage cost segregation professionals to help value the disposed components, the nine different building systems, and document repair versus improvement positions.

If My Organization Doesn’t Plan to Early-Adopt, Is There Anything We Should Be Doing Now?

The IRS has indicated that there are a few areas of the temporary regulations that will likely be modified when the regulations are issued in final form. However, the bulk of the regulations will remain largely as they are now. Consequently, taxpayers should begin to analyze how the rules will affect their business. Does your business’s accounting for M&S match the new definition? Do you have a written capitalization policy? If not, it would be a good idea to put one in place. Have you claimed repair expenses in the past that would now result in capitalized improvements? Implementation of the new regulations will generally require a change in accounting method, and in many instances a cumulative adjustment will be computed. Consequently, tax positions claimed in prior years will need to be revisited, particularly in the repair versus improvement area.

Using this delay to do your homework on how the rules will affect your business should lessen the disruption that the implementation may cause. The new rules affect many day-to-day transactions, and it will be critical to understand your accounting practices and document your policies prior to implementation.

Conclusion

The delay of the effective date of the regulations has provided some relief to taxpayers for 2012 and 2013. Planning opportunities exist for taxpayers to accelerate deductions or income with early adoption. However, with final regulations scheduled to be released in the first half of 2013, taxpayers should carefully consider the potential effects of the rules on their business and accounting practices, even if they don’t pursue early adoption. Rob Grannum, CPA, is the Washington Practice Leader for Moss Adams’ Health Care Group and works extensively with business and individual clients providing strategic tax planning and compliance services. You can contact Rob at robert.grannum@mossadams.com. Jason Thompson, CPA, leads Moss Adams’ Cost Segregation Practice in Washington State as well as the firm’s Energy-Efficient Building Incentives Practice. You can contact Jason at jason.thompson@mossadams.com.

Learn more WEBINAR Repairs to Tangible Property - Capitalize or Expense? March 11 (WNR341) 11 am -1 pm May 2 (WNR394) 10 am - 12 pm www.wscpa.org

news briefs

Look for Your WSCPA Membership Renewal in Your Mailbox Win One of Three $300 Amazon Gift Cards

our annual membership renewal will be mailed April 15 and will cover your membership from June 1, 2013-May 31, 2014. Payment is due June 30, 2013. Renew early and you have the chance to win big! The WSCPA will hold three drawings for $300 Amazon gift cards. The sooner you pay, the more opportunities you have to win. Ê

Pay your dues by midnight April 30 and be entered into each of the three drawings.

Ë Ì

Pay your dues by midnight May 15 and be entered into the second and third drawings. Pay your dues by midnight June 1 and be entered into the third drawing.

As an extra bonus, if you pay your membership and update your membership profile by June 1, you will earn an extra entry into a separate drawing for a $100 Amazon gift card. Thank you in advance for your prompt renewal and for your continued membership in the WSCPA! Have you recently moved, changed jobs, or changed your e-mail address? If you answered “yes” to any of these questions, please update your contact information with the WSCPA prior to April 1. Make changes at www.wscpa.org (click “Update Profile”) or e-mail changes to memberservices@wscpa.org.

In Memoriam The WSCPA holds in memory with families and the larger community, these members who have recently passed on:

wscpa Membership Renewal Options Thank you for renewing your membership by June 1, 2013

Online at www.wscpa.org, under Membership

Call (425) 644-4800 or (800) 272-8273 (Toll-free in Washington) with a credit card

E-MAIL your membership renewal statement to accounting@wscpa.org

Mail with payment to WSCPA, 902 140th Ave NE, Bellevue, WA 98005-3480

Nominate your peers! WSCPA Annual Awards

Willis E. Hoople, CPA John D. Levy, CPA Lorrie Pfaff, CPA Jack F. Rodda, CPA Lawrence B. Wood, CPA

Member Admonishment

The American Institute of Certified Public Accountants (AICPA) and the Washington Society of Certified Public Accountants (WSCPA) have admonished David C. Hale, CPA, of Richland,Washington, under the automatic disciplinary provisions of the AICPA’s bylaws. This action was taken in connection with the disciplinary action of the Washington State Board of Accountancy. www.wscpa.org

John L. O’Brien Lifetime Achievement Award Vincent A. Gervais Public Service Award Business of the Year Award | Volunteer of the Year Award Rising Star Award | New Professional Award Learn more about these awards and submit your nomination by March 15 at www.wscpa.org/awards WashingtonCPA March/April 2013

Board of Directors

2013-2014 Board of Directors Nominees

he Board of Directors is pleased to present for your review nominees for the Society’s 2013-14 Board of Directors.

In accordance with Article VI of the bylaws, all nominees will be declared elected by the secretary at the annual meeting unless other nominations, supported by at least one percent of membership, are received by April 1, 2013. If a contest for one or more positions develops, an election for those positions will be held at the meeting.

Heather L. Fitzpatrick, CPA

David J. Miniken, CPA

William A. Simer, CPA

Position

Vice Chair

Position

Treasurer

Position

Secretary

Term

1 year; automatically becomes chair 2014-15

Term

1 year

Term

1 year

Board service

Since 2011

Board service

Since 2012

Board service

2006-2008

Heather Fitzpatrick, CPA, is the President and CEO of MarketFitz, Inc, a marketing strategy firm focused on helping clients deliver measurably improved financial returns on market-facing investments. While MarketFitz has clients in a variety of industries, Heather’s practice focuses on marketing strategy for professional service, not-for-profit, healthcare and other organizations offering intangible benefits to their target audiences. Passionate about both client and community service, Fitzpatrick has served on a number of boards, including the Washington CPA Foundation Board of Trustees, which she chaired from 2009 to 2011, and the WSCPA Board. She lives in Edmonds with her husband, Brad, and their two children.

WashingtonCPA March/April 2013

Dave Miniken, CPA, is a member of the management team at Sweeney Conrad, where he serves as the Director of Sweeney Conrad’s audit and accounting practice. Dave has provided all phases of audit and financial accounting advisory services to a wide range of industries and to a diverse group of privately-held businesses and their owners. He also provides internal audit consulting services to a number of organizations. Prior to joining Sweeney Conrad in 1995, Dave started his audit career with The Boeing Company. Dave and his wife, Leslie, live in Issaquah with their two daughters.

William Simer, CPA, is a Shareholder in the Spokane-based firm of McDirmid, Mikkelsen & Secrest, P.S. With more than 35 years of experience in both public accounting and industry, Bill has held key leadership positions in many community organizations, including Greater Spokane Incorporated, the Spokane Symphony, and the Fox Theater. He currently chairs the Eastern Washington University Foundation and serves on the board of the Inland Northwest Community Foundation. A member of the AICPA, Bill earned a B.A. in Professional Accounting from Eastern Washington University. Bill and his wife, Reneé Rolando, live in Spokane.

www.wscpa.org

Board of directors

Meet the Incoming Chair: Glenn G. Wisegarver, CPA, CGMA

Glenn Wisegarver, CPA, currently provides executive-level F&A ser-

Laurie J. Anderson, CPA

Thomas G. Donaghy

vices to public and private compa-

Position

Director

Position

Director

nies in the Pacific Northwest. More

Term

3 years

Term

3 years

recently, he was Vice President of Finance & IT (Chief Financial Offi-

Laurie Anderson, CPA, is the Controller for Zumiez Inc, a leading specialty retailer of action sports related apparel, footwear, equipment and accessories. She has worked in the finance and accounting arena for 14 years and has dealt primarily with adoption of complex technicial accounting issues and SEC compliance for both domestic and international companies. Prior to joining Zumiez, she held various positions at Fisher Communications, Marchex, Clearwire, Petroplus AG and Premcor. Laurie began her career at PricewaterhouseCoopers in Stamford, CT and is a graduate of the University of Washington.

www.wscpa.org

Tom Donaghy is a Financial Advisor in the Bellingham office of Wells Fargo Advisors, LLC, Member SIPC. For nearly 15 years Tom has helped clients in the Puget Sound area make wise financial decisions through education and disciplined investment planning. Previously,Tom was a Financial Consultant with Smith Barney, a Financial Analyst at Boeing Corporate Headquarters, and Resident Audit Manager for Puget Sound Bancorp in Tacoma. A graduate of Seattle University and a non-practicing CPA licensed in Washington, Tom is an active member of the Knights of Columbus and Northwest Business Club, and is Team Captain for the â&#x20AC;&#x153;Big Climb,â&#x20AC;? a fundraising event for the Leukemia & Lymphoma Society. Tom and his wife Wendy live in Bellingham and have two sons.

cer) at Zetec, Inc. Prior to Zetec, Glenn held a number of financial leadership positions with Hitachi Consulting, Arthur Andersen LLP, Microsoft, Tektronix, and Ford Motor Company. Glenn also served as a Captain in the U.S. Air Force. Glenn is a past President and longtime board member of the Washington Chapter of Financial Executives International. Married with two children, Glenn enjoys baseball, fishing, writing, and laser sailboat racing.

WashingtonCPA March/April 2013

Board of Directors

WSCPA ANNUAL MEETING featuring

Patty Bedient, CPA Weyerhaeuser Company Executive Vice President & Chief Financial Officer Kirsten S. Duke, CPA

Lucy L. Liu, CPA

Position

Director

Position

Director

Term

3 years

Term

3 years

Kirsten Duke, CPA, is the Controller of DomainTools. A graduate of the University of Washington, Kirsten began her career at Ernst & Young in the Assurance and Advisory Business Services Practice. After nine years in public accounting, Kirsten moved on to industry serving as Director of Technical Accounting for Getty Images, as well as Controller of a small public biotechnology company in Bothell. Kirstenâ&#x20AC;&#x2122;s previous volunteer activities include President of the Sauvage Healing Heart Guild, Board Member and Finance Chair of the Hope Heart Institute, as well as Finance and Long Range Planning committees at the Seattle Yacht Club.

Remaining on the Board The following members currently serve on the board and will serve on the 2013-14 Board in the following positions:

WashingtonCPA March/April 2013

Lucy Liu, CPA, is an Assistant Director of Bellevue Utilities, where she leads the Resource Management and Customer Service Division. She was previoiusly the Tax Division Manager for the City of Bellevue, where she administered the cityâ&#x20AC;&#x2122;s business taxes and licenses. A graduate of the University of Washington, Lucy has over 19 years of managerial and financial based experience. Previously, Lucy worked at a national accounting firm in its state and local tax practice specializing in Washington Business & Occupation and sales and use taxes. She is also a former revenue auditor for the Washington State Department of Revenue where she audited businesses for compliance with state taxes. She lives in Bellevue with her husband and two daughters.

Chair: Glenn G. Wisegarver, CPA, CGMA Immediate Past Chair: Mary Dowling Marino, CPA, CGMA President & CEO: Richard E. Jones, CPA, CGMA

Tuesday, June 11 7:30-9:00 a.m. Washington State Convention Center Seattle, WA Save the date!

Directors: Dean A. Granholm, CPA, CGMA Robert L. Grannum, CPA Waylon P. Jones, CPA, CGMA Marinilka B. Kimbro, PhD Karissa A. Marker, CPA Peter R. E. Miller, CPA Sharon K. Philpott, CPA Andrew L. Read, CPA www.wscpa.org

advocacy

Ethics . . . and Advocacy By Judy Love,WSCPA Director of Advocacy

www.wscpa.org

Clearly, ethical behavior and compliance with the Washington State’s accountancy rules of the road are not the same thing.

workplace.” In other words, there would be no requirement to review Washington State rules and laws for the remainder of a CPA’s career. Unlike traffic laws that change very little over time, changes are regularly made to both RCWs and WACs, some of them significant. There are also differences between Washington RCWs and WACs and the AICPA Code of Conduct, as well as differences from state to state. Do licensees need to review them every three years? Would longer periods between that review, but still on some regularly established schedule, make sense? Should licensees be expected to keep up with changes on their own? Could the 4-hour ethics requirement be a combination of a rules/law review and ethics case studies and discussion more aligned with licensees’ workplace situations? Should the required ethics courses be approved by the WBOA or would any ethics course qualify? Should a test be given to assure licensees’ understanding of the RCWs and WACs? These questions and more were discussed for nearly an hour at the WBOA’s public hearing on January 22. Ethics instructors, Board members, a licensee and the WSCPA testified; several

isclosure: The only time I ever planned to cheat on a test, I wrote some numbers on my wrist and rolled down my shirt sleeve to cover them. Full disclosure: I was not in junior high; I had just celebrated my 40th birthday. My driver’s license had expired three weeks earlier and someone had told me I could be required to retake the written portion of the driver’s test. I had spent some quality time with the Washington Driver Guide, appreciating the opportunity for the review of the rules of the road. However, some numbers wouldn’t stick in my head. I understand that the faster a car is traveling the longer it takes to stop, but there is no formula; the stopping distances have to be memorized–thus the answers on my wrist. Fortunately, I was not tested, emerging from the Department of Licensing relieved but with face still flaming, heart still racing. The rules of the road related to public accounting in Washington State are addressed in laws—RCW (18.04) and rules—WAC (Title 4 WAC). Specifically, WAC 4-30-134 (3) requires all licensees to “complete 4 CPE credit hours in approved ethics and regulations with specific application to the practice of public accounting in Washington State” to insure that licensees periodically review the rules and laws. We hear over and over, “This course has nothing to do with ethics.” Or, “I’m licensed in another (or other) state(s), why can’t one ethics CPE apply everywhere?” In an attempt to address this issue, the Washington State Board of Accountancy (WBOA) recently proposed changes to the ethics CPE requirement. As proposed, first-time licensees would take the existing four-hour class for the first renewal period. In all subsequent renewal periods, licensees would be able to “complete 4 qualifying CPE credit hours in ethics applicable to the individual’s required competencies in the

comment letters were also included in the official testimony. The hearing was a model of reasoned discourse and thoughtful exchange of differing opinions, with insights gained by everyone involved. At the conclusion of the hearing, the Board voted to table the proposal and work on revisions to the proposal, which will be discussed at the WBOA’s April meeting. Clearly, ethical behavior and compliance with Washington State’s accountancy rules of the road are not the same thing. Failure to notify the WBOA of a change of address, or license a firm, missing license renewal deadlines, or noncompliance with a technical standard are not ethical violations. Embezzling from an employer or misusing client funds are. Fortunately, the majority of the WBOA’s disciplinary actions fall into the former category. But because they do, an argument can be made for requiring some form of regular review. Another look at this issue provides an opportunity to draft a rule that can accommodate licensees’ concerns with the existing requirement while insuring compliance with Washington rules and laws and continuing to protect the public. You can contact Judy at jlove@wscpa.org. WashingtonCPA March/April 2013

Taxation

Taxation of Marijuana Businesses By Dean Guske, CPA

ith the recent passage of I-502, more attention is being paid to the tax and business issues faced by those in the marijuana industry. While the Washington State Liquor Control Board is still sorting out how to regulate the industry under the new law, several hundred businesses are already operating under the medical marijuana statutes. This article will focus on the federal and Washington state tax issues of those businesses participating in the medical marijuana industry. In Washington State, medical marijuana businesses are regulated under RCW 69.51A. Typically, businesses participating in this industry organize themselves as non-profit corporations for purposes of complying with the medical marijuana statutes. However, for federal income tax purposes these businesses do not qualify as non-profit corporations. Therefore, incorporated businesses will be required to file an 1120 to report their income and deductions. Note that since nonprofit corporations in Washington do not have shareholders, there isn’t anyone available to make an S election.Therefore, the business itself will be subject to the federal corporate income tax. The most widely discussed federal tax issues in the medical marijuana industry revolve around Internal Revenue Code (IRC) §280E and its prohibition of ordinary and necessary deductions associated with a trade or business that traffics in illegal drugs. The IRC §280E disallowance does not, however, apply to the business’ cost of goods sold. IRC §280E provides “No deduction or credit shall be allowed for any amount paid or incurred during the taxable year in carrying on any trade or business if such trade or business (or the activities which comprise such trade or business) consists of trafficking in controlled substances (within the meaning of Schedule I and II of the Controlled Substances Act) which is prohibited by Federal

WashingtonCPA March/April 2013

While the Washington State Liquor Control Board is still sorting out how to regulate the industry under the new law, several hundred businesses are already operating under the medical marijuana statutes. law or the law of any State in which such trade or business is conducted.” Note that these businesses satisfy two tests. First, the trade or business or those activities that comprise the business consist of trafficking in controlled substances. Second, the trafficking must be prohibited by federal law or the law of any state. A controlled substance is defined in the Controlled Substances Act. For purposes of IRC §280E, marijuana is a controlled substance. It doesn’t matter for tax purposes that it has been recommended for any medical purpose under any state law. Recent Tax Court cases have upheld the provisions of IRC §280E by disallowing ordinary and necessary deductions of the business but allowing deductions for cost of goods sold. In Californians Helping to Alleviate Medical Problems, Inc. v. Comr. (CHAMP), the Tax Court held that the provisions of IRC §280E applied to medical marijuana in California. They also held that since the taxpayer actually had two distinct trades or business, the limitations of IRC §280E only applied to the trafficking business. This allowed them to deduct a portion of their ordinary and necessary business expenses that related to their non-trafficking activities. In Olive V. Comr. (Olive), however, all of the trafficking expenses were disallowed because the taxpayer could only establish that it just had one trade or business. These cases also raised other issues that should be important to businesses in the medical marijuana industry. Primarily, it is important to maintain books,

records, and other supporting documents that will be required to substantiate any deductions that may be allowed, particularly cost of goods sold (COGS). If medical marijuana businesses cannot deduct their normal operating expenses, what should they be focusing on to minimize their tax burden? The most obvious answer to this question is maximizing the expenditures that can be included in COGS. This requires a thorough understanding of the available tax accounting methods and rules. The business will also need to have good systems in place to substantiate the deductions and accounting methods. Over the past several years the IRS has adopted rules requiring businesses to capitalize more and more costs to inventory. This has had the general effect of delaying deductions until inventoried items are sold. Most businesses would naturally work to capitalize as few expenses as possible. However, in the marijuana business it may make sense to use the capitalization rules to capture as many costs as possible in inventory in order to convert “ordinary and necessary” deductions to cost of goods sold. At some point the IRS is certain to resist these efforts and claim that there is a prohibition on capitalizing expenses that are “not otherwise deductible” [See Regs. §1.471-3(d) and §1.263A-1(c) (2)]. This battle will likely revolve around the interpretation of what is an illegal expenditure versus what is an illegal business and whether or not an illegal business www.wscpa.org

Taxation

Taxation Committee Discusses Hot Topics, Shares Resources can afford itself of any deductions for tax purposes. The burden of record keeping is on every person or business subject to tax. This includes those in the medical marijuana industry. One of the unique aspects of the industry is that transactions are often conducted primarily in cash. There are many reasons for this, including tradition and the fact that very few, if any, banks or credit card companies are willing to conduct business with individuals and businesses in this industry. However, just because a business is conducted primarily in cash, it is not relieved of its responsibility and requirement to substantiate its income and expenditures. The IRS does not require any particular record keeping system. It’s up to each taxpayer to design or use a system that is suited to its particular needs and clearly reflects its income and expenditures. Except in a few cases (meals and entertainment) taxpayers are not required to keep any special types of records or documents. Any accounting system should, however, provide some sort of summary of all the transactions. This can be done by using spreadsheet software or an off the shelf accounting system software like QuickBooks, MMJ menu, or some combination of these options. In addition to the actual books, supporting documents such as cash register tapes, receipt books, bank and credit card statements, cancelled checks, invoices, account statements etc., should be maintained. They should be maintained on a contemporaneous basis. The IRS and courts will consider records that are re-created as less reliable than those maintained in real time. In some instances the courts have allowed deductions even when incomplete or no documentation was provided (Cohen v. Comr). However, the records must at least establish the poswww.wscpa.org

The Taxation Committee meets May-June on, or close to, the 2nd Tuesday of the month (scheduled to avoid conflicts with filing deadlines), 10 a.m. - 12 p.m. Before each meeting’s technical topic discussion, members receive updates on such committee projects as the Washington State Tax Conference, and legislators’ tax guide that are produced for the general WSCPA membership. A representative from the IRS often attends, providing updates and listening to practitioner issues. In addition, those who attend regularly often become invaluable resources to each other. Some have discovered another practitioner to share workloads with; some have helped with a specific client need outside the CPA of record’s area of expertise. Those who participated in the Taxation Committee in 2012, either in person or by phone, heard presentations on a number of timely topics, including:

sibility of approximating the amount of deductions and provide for some sort of method for doing so. Even if this is the case, it doesn’t make any sense for a business to subject itself to the whim or mercy of the courts in order to have its deductions allowed. According to the Washington Department of Revenue, sales by a dispensary of medical marijuana are retail sales and are, therefore, subject to sales tax. Those same sales are subject to the retailing business and occupation tax. Some have argued that because medical marijuana is “recommended” by health care professionals, it should be exempted from sales tax like other prescription drugs. However, because medical marijuana is a Schedule I controlled substance it cannot be legally

•

• • • •

Proposed IRS Changes to Section 1411 Regarding Medicare Tax and Net Investment Income (NII); Cost Segregation; Non-probate Assets; Foreign Account Tax Compliance Act (FATCA); and Integration of Financial and Tax Planning.

If you are already a committee member, but haven’t been active, consider attending in 2013. If you aren’t a member, consider joining and learn how the Taxation Committee might enhance your practice. Just select the large Sign Up Today! button at the bottom of the committee page on the WSCPA website, and when the committee begins meeting in June, you will be ready to receive notices from Committee Chair George Koutelieris, along with links to the presentation documents for that session.

prescribed under federal law or state law in Washington and therefore is subject to sales tax. In Washington these businesses are here to stay unless the legislature makes drastic changes in the law. With the passage of I-502 there is sure to be even more attention paid to this industry and new players will emerge. The CPA has an important role to play to help businesses navigate the unique and complex issues they face. Dean Guske, CPA, is a sole practitioner in Bellevue,Washington. He is a member of the WSCPA Taxation Committee and the Sole Practitioners Group. You can contact him at dean@deanguske.com.

WashingtonCPA March/April 2013

Technology Tip

If I Buy an iPad, Can I Ditch My PC? By John H. Higgins, CPA, CITP, Co-founder, CPA Crossings, LLC

Let’s begin with a review of your daily work tasks. Whether you’re a CPA in public practice, or you work in a small to large business organization, review the list of daily activities below and ponder how they relate to your typical day. The list is not prioritized in any particular order. • • • • • • • •

Processing e-mail messages; Browsing the Web to research various types of information; Participating in meetings and taking notes, sometimes off-site; Reviewing reports and documents of all types, in paper and electronic form; Marking up the documents you are reviewing; Talking on the phone; Creating a variety of spreadsheets to compile, analyze and report on financial information;* Working in your accounting, tax, payroll, and other enterprise software to enter data and produce reports.*

I’ve probably missed some key activities, so expand the list as it relates to your workday. With the exception of the two items marked with an asterisk, the performance of every task listed above can be

WashingtonCPA March/April 2013

Consumption Device iPad

Consider Your Work Tasks

Production Device PC

f I buy an iPad®, do I still need my PC? As I travel around the country teaching courses about the iPad, I’m frequently asked this question. So my objective is to help you better understand the role the iPad is beginning to play in business, as well as its relationship to the desktop computer (PC) or laptop. Let’s start by reframing the question. Instead, ask, “How can I use the iPad as a business tool?” The answer to this question will be a good indicator of whether you still need your PC.

• Data Entry • Transaction processing • Document/file creation

• Browsing the web • Viewing documents & files • Watching video

significantly enhanced with an iPad. Why? Because all of these tasks focus on communications or involve reviewing existing information in the form of documents, reports, and Web content. The iPad (and the 200,000-plus apps that power this innovative device) does a superb job of handling these types of tasks.

The iPad greatly reduces the communication barrier, and, if you’re a note taker, is far less distracting. Check out the standard iPad Notepad and Notability apps for paperless note-taking. Even in-house, moving around the office, a laptop is awkward. Not so with the sleek iPad, which even allows you to view and make simple edits to MS Word files and Excel spreadsheets using the popular QuickOffice Pro app.

Behold the iPad Advantage

Compared to the PC, the iPad (and similar tablet devices) is much better suited for automating the tasks listed for three key reasons: • It’s more portable. Lugging your laptop to meetings is often impractical and distracting. Just think about the last time you sat in a meeting in a sea of open laptop screens. Did you wonder if others were hiding behind their screens, or perhaps busy viewing Facebook pages? •

It has a superior interface that facilitates easier annotation of documents.

•

The device is fully prepped for video conferencing right out of the box.

But Don’t Ditch Your PC Just Yet

On the other side of the equation, when you need to use various software applications that require intensive data entry, using an iPad can be a real challenge. Yes, it can be done, but there’s a www.wscpa.org

technology Tip

reason why the full-size keyboard and mouse have been around for such a long time. Preparing a tax return, entering journal entries, creating a five-year cash flow projection spreadsheet, and composing a business valuation report are all examples of tasks that will seem more cumbersome on an iPad than on a PC. So, my bottom line answer to, “If I buy an iPad, can I ditch my PC?” is, don’t ditch the PC. The iPad is rapidly becoming an indispensable business tool for every information professional, and nobody fits that description better than a CPA. I’m completely convinced that every CPA, regardless of his or her specific role, can justify the investment in an iPad. The question is whether the return on investment will come within six months or 12 months. For now, think of your PC as your production device and your iPad as your information-consumption device. (See box on page 16.) Consider investing in both an iPad and a PC. Never intended to replace the PC, the iPad is a significantly different device. It enhances our ability to get things done that the PC doesn’t accomplish as well.

Consider investing in both an iPad and a PC. Never intended to replace the PC, the iPad is a significantly different device. It enhances our ability to get things done that the PC doesn’t accomplish as well. It’s simply a matter of form.

www.wscpa.org

It’s simply a matter of form.

Unless You’re a Salesperson

That said, there are many business people who heretofore have used a PC primarily for tasks the iPad handles more effectively. Those folks no longer need a PC. They are primarily consumers of information, rather than producers. Salespeople are a prime example. They’re mainly reviewing information such as inventory reports, product catalogs, websites and presentations, and managing appointments and contacts, and tracking meeting notes, etc. Most salespeople would happily turn in their PC for an iPad. So, in order to answer the overriding question here properly, it’s important to know who’s asking it.

Let’s Ditch the Question Instead

My preference is to discard the question altogether. Focus instead on how the iPad can push you further down the paperless path. Over the past decade, my company has helped hundreds of CPA firms and businesses transition to paperless processes.The most difficult hurdle is getting acclimated to viewing and marking up documents on a vertical monitor with a full-size keyboard and mouse. Those devices are great for data entry, but not very natural for reading and marking up documents (e.g., reviewing a tax return). I believe history will show that the iPad and other tablets served as the gateway to the paperless office. But don’t take my word for it; ask a CPA who has been using an iPad for awhile. “I’m completely convinced that every CPA, regardless of specific role, can justify the investment in an iPad.” “Think of your PC as your production device and your iPad as your information-

Learn more Join John Higgins, CPA, CITP, at the WSCPA Learning Center in Bellevue for the following iPad courses. iPads will be provided for every participant to use during the course.

April 29 iPad - The Beginner’s Guide to Setting Up and Using an iPad (IPADB401) 8-11:30 am iPad - Advanced Configuration Settings and Content Management (IPADA401) 12:30-4 pm April 30 iPad - Review of Powerful Business Apps to Maximize Your iPad’s Value (IPADR401) 8-11:30 am

consumption device.” John Higgins, CPA, CITP, is a strategic advisor and is Co-founder of CPA Crossings, LLC in Rochester, Mich. He is a nationally recognized author and speaker, and advises CPAs on how to effectively leverage technology. Look for John’s new book, Ten Steps to a Digital Practice in the Cloud, published by the AICPA. You can reach John at jhiggins@ cpacrossings.com. iPad is a registered trademark of Apple Inc. WashingtonCPA March/April 2013

Events

Photo Album CHAPTERS

South King County Chapter January 2013 - Kent

You’re invited... New Professionals Networking Events Date May 1 June 11 June 19 Aug 22 Oct 24 Nov

Location Member Mixer at World Trade Center, Seattle Expanding Your Network Luncheon, DoubleTree in Spokane Creating Community Connections at FareStart, Seattle Developing Your Business Network at Daniel’s Broiler, Bellevue Mingling at the Members’ Reception, Pike’s Brewery, Seattle Spokane Chief’s Game, Spokane

Chapter Networking Events Date April 24

May 17

Chapter - Location Sammamish Valley - Spring Happy Hour and Networking Event, Redhook Ale Brewery, Woodinville South King County - Annual Student and Professional Networking, Emerald Downs, Auburn

The South King County Chapter Board surprised Mike Briggs (far right) at their January meeting with a special cake to honor his years of service as chair. Thank you, Mike, for serving as chapter board chair for four years!

In December, Neil Olympia Chapter Woody (UW alum) January 2013 - Olympia and Chuck Hallett (Boise State alum) placed a bet on the bowl game between Northwest rivals University of Washington and Boise State. Because UW lost the game, Neil Woody had to wear a Boise State jacket at the chapter’s Annual Tax Update meeting on January 2.

Learn more at www.wscpa.org/cpe/catalog.

Johnson & Shute, P.S.,

Certified Public Accountants/Consultants has named Brad Gilden as managing shareholder, promoted Kayla Kemner and Suzanne Wong to managers, and added Nancy Fritz, tax manager; Anusha Sharma, staff; and Steven Wolf, staff. 18

WashingtonCPA March/April 2013

www.wscpa.org

Foundation & CPAPAC

Thank You for Your Support of Washington CPA Foundation and CPAPAC © Veer/Corbis Photography

Washington CPA Foundation

CPAPAC

Your support of the Washington CPA Foundation helps aspiring CPAs realize their dreams. For the 20122013 academic year, the Foundation awarded $55,000 in scholarships to 19 accounting students attending Washington universities. This year’s scholarships included 10 named scholarships.The Foundation also supports Accounting PhDs through the ADS program, and financial literacy through community grants. This year’s grant winner is the Financial Education Private Public Partnership. Learn more by watching the Foundation video online at www.wscpa.org (enter “Foundation” in the search box).

During the 2012 political campaign season, WSCPA members met with legislative and gubernatorial candidates to deliver CPAPAC checks. Those meetings provided an opportunity for discussions about key issues for the profession. They also increased legislators’ understanding of the critical role CPAs play in preserving the state’s business climate. Thank you to every WSCPA member and firm whose CPAPAC contributions play such an important role in the Society’s advocacy efforts on behalf of the profession.

Foundation Circle Contributors Named Scholarship Contributors* Clark Nuber PS Ernst & Young LLP KPMG Moss Adams LLP Roy J. Polley Memorial Sambataro Family

True Blue George Waterman Bill Wells * Contribution of at least $3,000 toward a named scholarship to be awarded the next academic year.

Weldon T. Burton, CPA Scott E. Eschbach, CPA

Contribution

Named Scholarship Contributor Chairman’s Circle Senior Executives Circle Executives Circle Leaders Circle Senior Contributor Supporting Contributor

$3,000+ $2,500+ $1,000-$2,499 $500 -$999 $250 - $499 $100 - $249 $50 - $99

Senior Executives Circle

Chairman’s Circle Richard E. Jones, CPA, CGMA

Foundation Contributor Level

Jessica E. Andrews, CPA James R. Ladd, CPA, CGMA

Donald W. Luby, CPA Goldman Sachs & Co

Executives Circle Dean A. Granholm, CPA Thomson & Company PLLC E. W. Parker Randy L. Wells, CPA, CGMA

William L. Wells

Leaders Circle Robert W. Ash Rodney W. Ashby, CPA Peter E. Doubleday, CPA Joyce G. Etheridge, CPA, MBA Heather L. Fitzpatrick, CPA Robert L. Gerth Robert L. Grannum, CPA Michelle H. Gretsch, CPA

Christopher W. Hesse, CPA Mark A. Hugh, CPA Marinilka B. Kimbro, PhD Mary D. Marino, CPA, CGMA Peter R. Miller, CPA, CFE David J. Miniken, CPA, CGMA Dr Gerhard G. Mueller, PhD Nerelys M. Ortiz, CPA

Rosemary Sanchez, CPA William A. Simer, CPA Julleen J. Snyder, CPA, CGMA William E. Tremper Edward C. Wartelle, CPA William L. Wells Glenn G. Wisegarver, CPA Lucas M. Zarecor, CPA, MA

Learn more about the Foundation and CPAPAC at www.wscpa.org (search for “Foundation” or “CPAPAC”). Contributions to the Washington CPA Foundation and CPAPAC may be made at any time during the year, or when you renew your Society membership every spring. www.wscpa.org WashingtonCPA March/April 2013

Foundation & CPAPAC

Thank You to Contributors to the Foundation and CPAPAC

Thank you

The following individuals and organizations donated to the Washington CPA Foundation or CPAPAC from January 2012-January 2013.

Foundation Contributors Senior Contributors Brianne R. Belur Adele B. Bolson, CPA, CMA Wayne R. Borkowski, CPA, MBA Robert J. Bowls, CPA Robert D. Boyd Bonnie L. Curran, CPA Mary E. Dickinson, CPA Dixon Golf Inc Alan L. Erlenbush, CPA Ralph W. Garhart Brian G. Gosline, CPA, JD Charles Hallett IV, CPA Sydnie Heberling, CPA Brett J. Jordan, CPA Gregg D. Jordshaugen, CPA Katsunori Kitamura, CPA Glenn M. Light Anthony A. Martinez Arthur D. Miles, CPA Sandra J. Moss, CPA Daniel B. Myers-Power, CPA Molly M. Philopant Sharon K. Philpott, CPA Robert S. Purvis James L. Russell, CPA David E. Trujillo, CPA Supporting Contributors Carmen J. Aguiar, CPA, CFP, PFS Girma Ali Leonard L. Almo, MBA Michael R. Ammerman, CPA Colleen R. Anderson, CPA Patricia M. Anderson Gerald D. Archer, CPA, JD ABV Erica M. Ash, CPA, MBA Gordon P. Asheim, CPA Kim M. Atwater, CPA Donald F. Aubrey, CPA Bill Bailey John P. Baker, CPA Marc G. Bateman, CPA Michael L. Bayless, CPA, JD S C. Bean, CPA Louis H. Beckman, CPA Janice K. Berg, CPA Robert C. Best, CPA, JD Carol J. Bezy, CPA, CVA MBA Roger W. Billings, CPA Irene B. Birdsall, CPA Bruce E. Bixler Gregg Blodgett

Bradley S. Bogar, MBA Sidney H. Boles, CPA Geraldine L. Booth, CPA Brady W. Borel Robert S. Boyd, CPA Paul W. Brandstetter, CPA William H. Bratton, CPA Margaret E. Brennan, MBA Michael K. Briggs, CPA Janice C. Bristol, CPA Gunnar Brokhaug, CPA Brian R. Bronk, CPA David A. Brown John R. Brown, CPA Christine B. Brunner, CPA Melinda A. Buckley, CPA Bruce P. Budge, CPA Daniel A. Burns, CPA Bradford N. Buskirk, CPA Deanne M. Butler, CPA, CGMA Yasmin L. Caldwell, CPA Linda M. Canney, CPA Curt A. Carlson Debra L. Carlson Maria T. Carrion-Ochoa, CPA Edward T. Carson, CPA Cesar Q. Castaneda, CPA Rebecca A. Cates, CPA Robert A. Chace, CPA, ABV Douglas B. Chandler, CPA Amanda Y. Chang, CPA, MS Tax Marc D. Christianson, CPA Theresa J. Christianson, CPA Robin A. Clark, CPA Barbara J. Clevenger, CPA James E. Coates, CPA Alton R. Cogert, CPA, CFA R. D. Collier, CPA Jodi A. Colligan, CPA CMA Daniel C. Collins Michael D. Cone, CPA Jeffrey M. Cordova, CPA Deborah A. Corrington, CPA David D. Cottler Jolene G. Cox, CPA Jay F. Cramer Phyllis L. Crooks, CPA Stephen G. Dashiell, CPA Steven M. Davis, CPA Joseph P. Deacon, CPA David L. Dierst, CPA Molly D. Doerr Deanne Donovan, CPA Teresa I. Dul, CPA, MBA Thomas N. Durrett, CPA Charles J. Dyer, CPA Thomas J. Eby, MBA

WashingtonCPA March/April 2013

Phillip T. Eggers, CPA Robert J. Erickson, CPA, JD Charlotte R. Fairfield, CPA Joan C. Faubion, CPA Leon F. Ficker, CPA Daniel W. Fisher Joseph R. Forde, CPA Rick R. Foster, CPA Jackie L. Franklin, CPA Norman H. Frey Darrell W. Fry, CPA Jesusa J. Fusade, CPA James H. Gall, CPA, MBA Steven C. Garber, CPA Chris A. Gates, CPA, CITP Stephanie W. Gebhardt, CPA Patricia B. George, CPA Dr Norman J. Gierlasinski, CPA Meri M. Gilbert, CPA Richard D. Greaves, CPA Mark A. Greenfield, CGMA Harumi K. Guiberson Clarence G. Guimond Jr, CPA Ariff A. Gulamani, CPA, CA BA Vaughn S. Hagen, CPA Caralee Hall Mark R. Hancock, CPA Rex H. Harder, CPA Michael P. Hart, CPA, MPAc Michael D. Haveman, CPA Dean W. Hebner, CPA M S. Heidema, CPA Charles A. Hellam John R. Hodder, CPA Rebecca J. Hogan, CPA Shyh-Ing Hong, CPA William D. Hood, CPA Stephen J. Hopps, CPA Loren D. Hostek, CPA Karyn Huffman, CPA D S. Hunt, CPA Michael K. Hutchinson, CPA Edward M. Hynes, CPA Hitoshi Inoue, CPA Cindy L. Isaacson, CPA Wendy S. Jacobson, CPA Natalia S. Jernegan, CPA Ernest R. Johnson D. M. Jones Waylon P. Jones, CPA, CFE, CFF George C. Jonson, CPA Luther D. Jonson, CPA Deborah J. Juntunen, CPA Arthur Y. Kageyama Jennifer L. Kammeyer, CPA Michael J. Kander, CPA, CIA Osamu Kasuya

Raad T. Kattula, CPA Suzanne R. Kauper, CPA Jo A. Kelly, CPA Sandra C. Kemp, CPA Arnie Y. Kim, CPA, MBA Herbert S. Kim, CPA Dennis K. Knapp Kristin L. Knopf, CPA John P. Koenes, CPA Jeffrey R. Kolcum Kerry D. Konkler, CPA Karl J. Korsmo Glenn E. Kosai Jocelyn P. Krabbenschmidt, CPA Vildana Kunduklija, CPA Stroud W. Kunkle, CPA Frank J. Kuntz, CPA, PS Evelyn M. LaFond Irene R. Laible, CPA Antonio M. Laliberte, JD Nancy M. Lalic, CPA, CFE CITP Gordon W. Lamb, CPA Sherri P. Lannom, CPA CBM Marvin P. Leaf, CPA David C. Lee Kwang M. Lee, CPA Samuel H. Lim, CPA Lucy L. Liu, CPA Luellen H. Lockwood, CPA Robert B. Loe, CPA, MBA, CFE Mark T. Long, CPA, MSTax Deborah M. Loober, CPA Donna K. Lutkewitte, CPA MST Richard C. Lyga, CPA John S. Macdonald, CPA Todd E. Macomber, CPA, CMA Anthony T. Mai Bo-San H. Man, CPA, CA Michael J. Mansfield, CPA Bradley D. Martin, CPA Carrie A. Martin Connie M. Martin, CPA Sam T. Martin, CPA, CFP MBA John P. Marvin Gregory A. Matty, CPA Lillian L. McDonell, CPA, MBA Gary L. McGregor, CPA, MS Tax Donald W. McHargue Ross D. McIvor, CPA James W. McKean, CPA Tim McNees Sue E. Middaugh, CPA Arthur D. Miles, CPA Louis H. Mills, CPA Bruce I. Mitchell, CPA, MBA Donald W. Mitchell Patricia G. Molnar, CPA

Robert M. Monson, CPA Charles E. Morgan, CPA Matthew S. Moser, CPA, PFS Cassandra L. Mulligan, CPA Phillip E. Multop, CPA CFP PFS Michael A. Munger, CPA Ryan L. Munn, CPA Donald J. Murphy, CPA Alisa S. Na, CPA Bea L. Nahon, CPA, CGMA Mark Needham Thomas G. Neill, CPA Stephanie M. Neis, CPA, MBA Kaye J. Nelson, CPA Michelle B. Nelson, CPA Raquel R. Nelson, CPA Daniel Neuharth, CPA Ann B. Nguyen, CPA Thomas P. Nicholas, CPA Henry L. Nornberg, CPA Arthur G. Norris, CPA Brian D. Nyman, CPA Dale E. Offret, CPA Aldryth N. O’Hara, CPA Larry M. Okada, CPA, CA Terence V. O’Keefe Gary B. O’Malley Susan F. O’Neill, CPA Joanne L. Ort, CPA, MPAcc Stephen H. Oswin, CPA Richard N. Pahre, CPA Janak M. Patel, CPA Stephen Patterson, CPA Rhoda M. Pawlak Stacy G. Payte, CPA Michael S. Peasley, MST, CGMA Ronald J. Perkins, CPA Hwan J. Perreault, CPA Linda M. Perry, CPA, MT Jack B. Person, CPA Scott T. Petersen, CPA Michael J. Plymale, CPA Russell D. Price, CPA, MBA Thomas A. Pucci, CPA Tiffanie A. Ranta, CPA Robert J. Rebar, CPA Karen L. Reffner, CPA Margo Reich, CPA Stephen D. Reichenbach Penny F. Ridderbusch, CPA Christopher J. Rieke, CPA, CFP James J. Rigos, CPA, JD LLM Rachel M. Robert, CPA Donald L. Rodman, CPA, MBA Sheila A. Roe, CPA Gordon R. Roland, CPA David J. Rumsey, CPA

www.wscpa.org

k u! Ken M. Russell, CPA Craig S. Ruthford, CPA Dr Debra L. Sanders, CPA Susan J. Sanders, CPA John P. Sandstrom Thomas P. Sawatzki, CPA David D. Schelert, CPA Jeffery S. Schilling, CPA David R. Schultz, CPA Harold G. Shapiro, CPA Leo Sheehan Christopher A. Sherfey, CPA Jay T. Shilhanek, CPA Janis H. Simpson, CPA Riene S. Simpson, CPA Brian W. Smith, CPA Orphalee Smith, CPA, PFS Russell J. Smith, CPA Terry D. Sodders, CPA Kinam Sohn, CPA Yet Sok, CPA Cathy L. St John, CPA William M. Stanke, CPA Donald L. Starr, CPA Donald W. Stetson, CPA George W. Stewart, CPA Robert O. Strauss, CPA F B. Stumpf Scott L. Sutherland, CMA Michael D. Sweeney, CPA Darren J. Szendre, CPA Roger T. Tanabe, CPA Susan H. Taniguchi Linda M. Teachout, CPA Harold G. Thompson Jr, CPA Terry M. Thompson, CPA Susan L. Thomson-Sines, CPA Enga H. Thong, CPA Richard D. Thornbrue, CPA Catherine B. Thruelsen Rockne J. Timm Heather A. Tomsick, CPA Anne M. Trimnell Tracie D. Tripple, CPA Kathleen L. Trumbauer, CPA Mark E. Ulloa, CPA Robert A. Underhill, CPA, JD Jeffrey M. van Burkleo, MS Tax Mary C.VanNuland, CPA Susanne W.Vickerman, CPA, MST Sharon I.Vik, CPA, MBA Thomas J.Virgin, CPA, MBA Marshall H. Waldman, CPA, JD Robert W. Wales Donald B. Walter, CPA, MBA Seth D. Walton, CPA Catherine B. Wandell, CPA

www.wscpa.org

View all scholarship recipients at www.discovercpa.org

Shu-Hui Wang, CPA Linda B. Ward, CPA Patricia G. Ward, CPA Martin B. Warr Donald G. Watts, CPA Eva M. Weisenburger, CPA Robert E. Wells, CPA Michael J. Wernz, CPA Leo L. Werre, CPA Cecil R. Whitlock, CPA, CSEP H. T. Wick Elizabeth J. Widdison Bradley R. Wilkins Alan K. Williamson, CPA Virgil B. Woodfield, CPA Michael S. Woodmansee, CPA Beth A. Wroe, CPA Justin K.Yamamoto, CPA Megan W.Yeung, CPA Josh Yeyni, CPA, PS James D.Young, CPA, MBA John N. Zaremba, CPA Stephen J. Zevenbergen, CPA Danielle R. Zlatich, CPA Lawrence R. Zommick, CPA Other Contributors (<$50) Tyler J. Baldwin, CPA Katrina W. Bayens, CPA Marcia K. Bennison, CPA Bruce G. Bollert, CPA Jordan Chester David E. Cochran, CPA Gordon R. Craig, CPA, CIA Codou Cunningham Brenda L. Dean, CPA, CIA Michael Donley, CIA M C. Evans-Wenzel RDH Jinus Y. Fiuzi Bert R. Golla, CPA Bonnie L. Green, CPA Gerald Greer, CPA Clinton L. Hagfeldt, CPA Ryan R. Hart, CPA Katherine H. Hasegawa, CPA Jolene E. Hillis, CPA Barbara T. Huang, CPA Paul V. Hughes, MBA Kenji Ito, CPA Ronald A. Johnson, CPA MBA Shane A. Johnson Kevin S. Li, CPA Kenshi Nagayoshi, CPA Mary Anne Olmstead, CPA Aymeric Prieur Bridget Savage Christopher F. Steele

CPAPAC Contributors Firms Clark Nuber PS CliftonLarsonAllen LLP

Deloitte Ernst & Young LLP Johnson & Shute PS

KPMG Moss Adams LLP Peterson Sullivan LLP

Individuals Carmen J. Aguiar, CPA, CFP, PFS Girma Ali Christie P. Anderson, CPA, MBA Jason S. Anderson, CPA, MS Tax Patricia M. Anderson Gerald D. Archer, CPA, JD ABV Rodney W. Ashby, CPA Gordon P. Asheim, CPA Kim M. Atwater, CPA Robert J. Bacon, CPA, MPAcc Paul M. Bailey, CPA John P. Baker, CPA Tyler J. Baldwin, CPA Steven B. Bass, CPA Marc G. Bateman, CPA Michael L. Bayless, CPA, JD Gregory M. Beams, CPA S C. Bean, CPA Louis H. Beckman, CPA Marcia K. Bennison, CPA Michael P. Bentley, CPA Janice K. Berg, CPA Gerald J. Besel, CPA Carol J. Bezy, CPA, CVA MBA Irene B. Birdsall, CPA John P. Bjorkman, CPA William E. Blue, CPA Jeffrey J. Bogdanovich, CPA, PFS Pat L. Bohan, CPA, CGFM Sidney H. Boles, CPA Adele B. Bolson, CPA, CMA Brady W. Borel Brian A. Borzone Daniel L. Boyd, CPA Robert S. Boyd, CPA Daniel W. Brady Sr, CPA, MBA Paul W. Brandstetter, CPA William H. Bratton, CPA Greg T. Brault, CPA Michael K. Briggs, CPA

David A. Brown Christine B. Brunner, CPA Bruce P. Budge, CPA Ronald L. Bueing, CPA, JD Kelly M. Burke, CPA Daniel A. Burns, CPA Michael J. Bursiek, CPA Bradford N. Buskirk, CPA Deanne M. Butler, CPA, CGMA Terry J. Campbell, CPA, MST Linda M. Canney, CPA Sesinando N. Cantor, CPA Curt A. Carlson Debra L. Carlson John L. Carrosino, CPA Harold D. Carrothers, CPA Edward T. Carson, CPA Rebecca A. Cates, CPA Jose Cerrillo III, CPA Tarun Chadha Douglas B. Chandler, CPA Amanda Y. Chang, CPA, MS Tax Marc D. Christianson, CPA Theresa J. Christianson, CPA Jennifer C. Civitts, CPA Robin A. Clark, CPA James E. Coates, CPA David E. Cochran, CPA Robert M. Cole Jr, CPA, MA David P. Collier, CPA Jodi A. Colligan, CPA CMA Daniel C. Collins Michael D. Cone, CPA Richard W. Cooley, CPA Cheria C. Coram, CPA Deborah A. Corrington, CPA David D. Cottler Jolene G. Cox, CPA Gordon R. Craig, CPA, CIA, Jay F. Cramer Douglas A. Cruickshank, CPA

Vicky M. Dalton, CPA, CGFM Stephen G. Dashiell, CPA Chris A. Davies, CPA, CMA Charles R. Davis, CPA Steven M. Davis, CPA Robert H. Dawson Jr, CPA, MBA Stephen J. Day, CPA Joseph P. Deacon, CPA Brenda L. Dean, CPA, CIA Randy J. Deasy, CPA Chad W. Denton Scott J. Dietzen, CPA Steven V. Ditzler, CPA Molly D. Doerr Michael Donley, CIA Deanne Donovan, CPA David A. Dorn, CPA Peter E. Doubleday, CPA Dennis L. Duban, CPA Thomas N. Durrett, CPA Phillip T. Eggers, CPA Colin A. Ehli, CPA Robert J. Erickson, CPA, JD Scott E. Eschbach, CPA Joyce G. Etheridge, CPA, MBA Joan C. Faubion, CPA Michael H. Ferguson, CPA, CMA Leon F. Ficker, CPA Daniel W. Fisher Robert J. Fleming, CPA Joseph R. Forde, CPA Rick R. Foster, CPA Lynnette B. Frank, CPA Christine M. Freeman, CPA Daniel Frein, CPA Norman H. Frey James H. Gall, CPA, MBA Steven C. Garber, CPA Maria-Elena Garcia-Zapata, CPA Stephanie W. Gebhardt, CPA Robert L. Gerth

Rebecca L. Thomas, CPA Julie Thorne Richard A.Volk, CPA

Franz Von Bradsky MBA Carol L. Wagar, CPA, CCPS Dorothy R. Wagsholm, CPA

Linda A. Wistrom, CPA Karen L. Wright, CPA Jianyou Zhou, CPA

WashingtonCPA March/April 2013

Foundation & CPAPAC

Learn more about CPAPAC and WSCPA Advocacy efforts at www.wscpa.org (click “Advocacy”)

CPAPAC Contributors Dr Norman J. Gierlasinski, CPA Meri M. Gilbert, CPA Michael J. Gillespie, CPA MBA Richard N. Ginnis, CPA Bert R. Golla, CPA Brian G. Gosline, CPA, JD Donald W. Gracia, CPA, MS Tax Rick H. Graham, CPA William J. Graham, CPA Dean A. Granholm, CPA Alan L. Gray, CPA Richard D. Greaves, CPA Bonnie L. Green, CPA Mark A. Greenfield, CGMA Matthew L. Green-Hite, CPA Gerald Greer, CPA Michelle H. Gretsch, CPA Ariff A. Gulamani, CPA, CA BA Vaughn S. Hagen, CPA Mark R. Hancock, CPA Rex H. Harder, CPA Monty L. Harmon, CPA Michael P. Hart, CPA, MPAc Ryan R. Hart, CPA Michael D. Haveman, CPA M S. Heidema, CPA Bob Heller, JD LLM Christopher W. Hesse, CPA R D. Hice, CPA Jolene E. Hillis, CPA Kathleen E. Hobbs, CPA John R. Hodder, CPA Rebecca J. Hogan, CPA Shyh-Ing Hong, CPA Richard Q. Honsowetz, CPA William D. Hood, CPA Stephen J. Hopps, CPA Navzer R. Hormazdi, CPA, MT Loren D. Hostek, CPA Mark A. Hugh, CPA Dixie A. Hughson, CPA D. S. Hunt, CPA Michael K. Hutchinson, CPA Sara-Elizabeth J. Hyre, CPA, MBA Hitoshi Inoue, CPA Kenji Ito, CPA David K. James, CPA, CMA Ronald A. Johnson, CPA MBA Shane A. Johnson D. M. Jones Richard E. Jones, CPA, CGMA Waylon P. Jones, CPA, CFE, CFF George C. Jonson, CPA

Brett J. Jordan, CPA Arthur Y. Kageyama Jennifer L. Kammeyer, CPA Michael J. Kander, CPA, CIA Osamu Kasuya David E. Katri, CPA, MBA Suzanne Keel-Eckmann Sandra C. Kemp, CPA James W. Keyes, CPA Herbert S. Kim, CPA Marinilka B. Kimbro, PhD Kristin L. Knopf, CPA John P. Koenes, CPA Jocelyn P. Krabbenschmidt, CPA Stroud W. Kunkle, CPA Frank J. Kuntz, CPA, PS Rhona H. Kwiram, CPA James R. Ladd, CPA, CGMA Irene R. Laible, CPA Antonio M. Laliberte, JD Nancy M. Lalic, CPA, CFE CITP Gordon W. Lamb, CPA Sherri P. Lannom, CPA CBM Kathryn J. Lappano, CPA Marvin P. Leaf, CPA Jeff E. Leary, CPA, CFP Kwang M. Lee, CPA Steven Y. Lee, CPA, MBA, MPAcc Samuel H. Lim, CPA James C. Littrell, CPA Lucy L. Liu, CPA Steven R. Livingston Dennis C. Loman, CPA Mark T. Long, CPA, MSTax Deborah M. Loober, CPA Jessica J. Lustig, CPA Richard C. Lyga, CPA Kevin B. Maas, CPA John S. Macdonald, CPA Carl A. Mackleit, CPA Todd E. Macomber, CPA, CMA Anthony T. Mai Bo-San H. Man, CPA, CA Mary D. Marino, CPA, CGMA Bradley D. Martin, CPA Sam T. Martin, CPA, CFP MBA Mark R. Mathewson, CPA Lillian L. McDonell, CPA, MBA Ross D. McIvor, CPA Robert P. McKinley, CPA Tim McNees Kirk J. Michels, CPA Arthur D. Miles, CPA

Peter R. Miller, CPA, CFE Heather J. Mills, CPA Louis H. Mills, CPA David J. Miniken, CPA, CGMA Bruce I. Mitchell, CPA, MBA Donald W. Mitchell Charles E. Morgan, CPA Mark J. Morrissette, CPA Matthew S. Moser, CPA, PFS, MST Gary E. Mueller, CPA Cassandra L. Mulligan, CPA Phillip E. Multop, CPA CFP PFS Beverly A. Mumper, CPA, CFP Michael A. Munger, CPA D. P. Murray Jr Alisa S. Na, CPA Kenshi Nagayoshi, CPA Bea L. Nahon, CPA, CGMA Mark Needham Thomas G. Neill, CPA Stephanie M. Neis, CPA, MBA David S. Nelson, CPA CTRS Michelle B. Nelson, CPA Raquel R. Nelson, CPA Daniel Neuharth, CPA Ann B. Nguyen, CPA Thomas P. Nicholas, CPA Henry L. Nornberg, CPA Thomas M. O’Brien, CPA Dale E. Offret, CPA Larry M. Okada, CPA, CA Terence V. O’Keefe Susan F. O’Neill, CPA Douglas M. Oord, CPA Joanne L. Ort, CPA, MPAcc Stephen H. Oswin, CPA Richard N. Pahre, CPA Jeffrey G. Pannell, CPA James D. Parkin, CPA Stephen Patterson, CPA Rhoda M. Pawlak Linda M. Perry, CPA, MT Jack B. Person, CPA Scott T. Petersen, CPA Sharon K. Philpott, CPA Kathleen P. Pitman, CPA Michael J. Plymale, CPA Laurie Prall, CPA Andrew M. Prather, CPA Russell D. Price, CPA, MBA ACA Edward L. Raisl, CPA Tiffanie A. Ranta, CPA Ronald G. Rauch, CPA

Andrew L. Read, CPA Robert J. Rebar, CPA Harley B. Reckord, CPA Karen L. Reffner, CPA Margo Reich, CPA Lonnie L. Rich, CPA Christopher J. Rieke, CPA, CFP James J. Rigos, CPA, JD LLM Donald L. Rodman, CPA, MBA Gordon R. Roland, CPA Emily R. Rollins, CPA James L. Russell, CPA Ken M. Russell, CPA John D. Salata, CPA Rosemary Sanchez, CPA Susan J. Sanders, CPA John P. Sandstrom Bridget Savage Thomas P. Sawatzki, CPA Jeffrey D. Schaberg, CPA James D. Schafer, CPA, MS Alan J. Schaub, CPA David D. Schelert, CPA Jeffery S. Schilling, CPA Richard W. Schmidtke, CPA Daniel J. Schroeder, CPA Jane M. Searing, CPA, M.S. Tax Charlene H. Severin, CPA Harold G. Shapiro, CPA Jay T. Shilhanek, CPA Peter A. Shimer, CPA Riene S. Simpson, CPA Brian W. Smith, CPA Daniel C. Smith, CPA Kathleen K. Smith, CPA Orphalee Smith, CPA, PFS Yet Sok, CPA Douglas D. Springer, CPA, PFS William M. Stanke, CPA Donald L. Starr, CPA Sidney J. Starr, CPA, CFF DABFA Donald W. Stetson, CPA Vincent J. Stevens, CPA George W. Stewart, CPA Scot A. Studebaker, CPA Thomas J. Sulewski, CPA Scott L. Sutherland, CMA Darren J. Szendre, CPA Roger T. Tanabe, CPA Timothy W. Tasker, CPA Edward D. Thomas, CPA David E. Thompson, CPA, CVA Harold G. Thompson Jr, CPA

Terry M. Thompson, CPA Susan L. Thomson-Sines, CPA Enga H. Thong, CPA Julie Thorne Kenneth L. Tracy, CPA David E. Trujillo, CPA Mark E. Ulloa, CPA Robert A. Underhill, CPA, JD Jeffrey M. van Burkleo MS Tax William Van Oostrum, CPA Mary C.VanNuland, CPA David A.Vargas, CPA Susanne W.Vickerman, CPA, MST Sharon I.Vik, CPA, MBA Thomas J.Virgin, CPA, MBA Richard A.Volk, CPA Carol L. Wagar, CPA, CCPS Dorothy R. Wagsholm, CPA Robert W. Wales Donald B. Walter, CPA, MBA Linda B. Ward, CPA Patricia G. Ward, CPA Martin B. Warr Donald G. Watts, CPA Nikole A. Wells, CPA Randy L. Wells, CPA, CGMA Robert E. Wells, CPA William L. Wells Anne Welsh Michael J. Wernz, CPA Leo L. Werre, CPA Robert A. Wheeler, CPA Cecil R. Whitlock, CPA, CSEP H. T. Wick Bradley R. Wilkins Shelley R. Wirkkala, CPA Glenn G. Wisegarver, CPA Linda A. Wistrom, CPA Carol A. Woo, CPA Virgil B. Woodfield, CPA Cheryl K. Woods, CPA Justin K.Yamamoto, CPA Dominic J. Zamora, CPA, JD AIFA John N. Zaremba, CPA Stephen J. Zevenbergen, CPA Jianyou Zhou, CPA

Thank you! 22

WashingtonCPA March/April 2013

www.wscpa.org

CFO Series Bank Financing and Financial Statement Analysis (CFOSB)

Chief Financial Officer CFO Series Designed for CFOs and aspiring CFOs

Bank Financing Financial Statement Analysis Cash Flow Modeling Capital Projects, Acquisitions & More Learn more and register at www.wscpa.org/cpe/catalog www.wscpa.org

Chief Financial Officer: Executive Level Skills for Financial Managers (CFO01)

March 15 | 8 am - 4 pm WSCPA, Bellevue

April 22 | 8 am - 4 pm WSCPA, Bellevue

In the first course of the CFO Series, discover how to effectively work with and negotiate with bankers in order to finance a company.

April 23 | 8 am - 4 pm Hampton Inn, Spokane

Learn how banks analyze a company’s financial condition, types of financing appropriate at various stages in a company’s life cycle, and techniques for dealing with banks in the current economic environment.

Being a great accountant alone will not qualify you to be a chief financial officer. This course will help you gain an understanding of the CFO’s role in four important aspects of running a business: Chief Ethics Officer, Banking & Financing, Operational Control, and Compensation & Incentive Plans.

CFO Series Valuation, Acquisitions, Capital Projects and Leveraged Buyouts (CFOSV)

CFO Series Financial Statement and Cash Flow Forecasting and Modeling (CFOSF)

May 24 | 8 am - 4 pm WSCPA, Bellevue

April 19 | 8 am - 4 pm WSCPA, Bellevue

Get the tools necessary to analyze the financial implications of strategic business decisions, including acquisitions, expansion plans, leveraged buyouts, and recaps.

Are you responsible for planning and financing the working capital and long-term capital requirements for your organization?

Receive a disk containing copies of all financial models reviewed during the class. Use the models as a reference or modify and use them to analyze strategic alternatives.

This course will help you gain the knowledge and tools necessary to develop and analyze financial models to forecast a company’s long-term financial condition and short-term cash flow requirements.

WashingtonCPA March/April 2013

Financial Literacy

Dating and Student Loans?

s the new dating question: how much do you owe in student loans? Should you add “student loans are paid off” as one of your positive qualities in your online dating profile? It may sound silly, but student debt is playing a role in the personal decisions and lifestyle of those under 30. The media has written stories of budding romances being nipped once someone finds out about the other’s high debt load. Some have reported feeling stigmatized by it and only consider dating other people with similar debt loads. For those who make it past the financial screening of a potential mate, many are delaying marriage out of concern of taking on the other’s debt and knowing the limitations it will have on dreams or goals they may have as a couple, such as home ownership. The economy is feeling the effect of the changing consumer patterns as well. For example, in 2011 first time home buyers, with a median age of 31, fell to the smallest percentage of total home purchasers since 2006. The headlines continue to warn of the

WashingtonCPA March/April 2013

impending problems with student loan debt. How bad is it? Nearly 60% of college students borrow annually to help cover costs, resulting in roughly $864 billion in outstanding federal student loan debt and $150 billion in private student loans. The rate of delinquency in repayment on loans is on the rise as well. In fact, 41% are delinquent at some point in the first five years after entering repayment. Financial education at both the high school and college level continues to be an ongoing need. Although it’s only one piece of the puzzle, future CPAs in student clubs are helping to address this need by hosting workshops for students on campuses across the state. Some groups have invited CPAs to speak at their event to share what they know and provide an additional perspective. The topics range from the basics of budgeting, understanding taxes and managing credit. Providing these tools will help those who have loans reconsider additional debt and have a better understanding of how

By Amy O’Donnell

to navigate the debt they have acquired. Dating is hard enough; let’s hope these new financial skills will help them pass the financial screening. If you would like to learn more about this or become a speaker for these events, contact Amy O’Donnell, WSCPA Member Services Manager at aodonnell@wscpa.org. (Sources: Chronicle of Higher Education, National Association of Realtors, Consumer Finance Protection Bureau)

www.wscpa.org

â&#x20AC;&#x153;A bad day on the course is better than a good day at the office.â&#x20AC;?

Golf Tournament Monday, June 10, 2013 1 p.m. Shotgun Only $120/person, includes golf, lunch, dinner, drinks, cart, and prizes. Registration now open. Sponsorships are available.

Woodinville, WA

www.wscpa.org/golf

To learn more or register, contact the WSCPA: memberservices@wscpa.org | www.wscpa.org/golf (425) 644-4800 or (800) 272-8273

14th Annual WSCPA Spokane Chapter/RMA

Golf Outing

Thursday, May 30, 2013 1:30 p.m. Shotgun Only $125/person, includes green fee, power cart, real time scoring, ball marker, unlimited use of driving range, dinner and a no-host awards reception. Registration opens March 1. Sponsorships are available. Watch your Short Form for registration details or download a form at www.wscpa.org/spokanegolf. To learn more, call (509) 747-6265 or (509) 329-4010 or visit www.wscpa.org/spokanegolf.

www.wscpa.org/spokanegolf www.wscpa.org

Worley, ID

WashingtonCPA March/April 2013

CPE Digest Governmental Accounting & Auditing Conference Association of Government Accountants Regional Conference

Spring Tax

new

Conference

Looking for the Washington State Tax Conference? Or the International Tax Conference? Here it is! May 17, 2013 | 8:00 am - 4:30 pm Bell Harbor International Conference Center Seattle, WA

April 29-30, 2013 | 8:00 am - 4:00 pm Courtyard Marriott, Tacoma, WA Webcast and Live Video Conferences: Everett, Spokane Keeping up with new standards, as well as current trends affecting local governments in Washington can be a challenge. At the 2013 WSCPA/AGA Governmental Accounting & Auditing Conference, recognized experts in the governmental industry will review recent changes and provide essential guidance on hot topics, including: • GASB Update • State Auditor’s Office Update Fraud: The Other Employee Benefit • How the New Yellow Book Affects CPAs • Sustainability Panel • Grants Reform 2013 and Other COFAR Initiatives • Lean Six Sigma: The Current Evolution of Performance Improvement • The GFOA’s “Blue Book” – Governmental Accounting, Auditing and Financial Reporting

New! Bigger! Better! Introducing the Spring Tax Conference, a combination of two great tax conferences. Enjoy increased networking opportunities, as well as more opportunities to learn. Get the information you need on new laws, rules, and trends affecting Washington State and international tax at the Spring Tax Conference.

Plus, hear from Kim Wyman, Secretary of State, who will address attendees during lunch. Plan to attend the most anticipated CPE event of the year for government industry CPAs and financial professionals!

Washington State Tax Track: Explore the essential tax topics related to Washington State tax law.

Details

Co-sponsor

Details

Webcast & Live Video Conferences

LOCATION Bell Harbor International Conference Center 2211 Alaskan Way Pier 66 Seattle, WA 98121

CPE Earn up to 16 technical credits LOCATION Courtyard Marriott Tacoma 1515 Commerce St Tacoma, WA 98402 Room block available. Learn more at www.wscpa.org/conferences. REGISTRATION FEES (Code GAAC) WSCPA & AGA Members

$375

Standard Fee

$450

REGISTRATION FEES (Codes: Spokane GAAC2, Everett GAAC3, Webcast WEBGAAC) WSCPA & AGA Members

$325

Standard Fee

$400

Fees for GAAC, GAAC2, and GAAC3 include continental breakfast, lunch, and free parking

International Tax Track: • Transfer Pricing • Practical Estate Planning for Noncitizens that Live in the United States • CFCs: Are You Ready for the Make Over? • IRS Offshore Compliance & PFIC Reporting Requirements • E-Commerce • Recent Developments in International Taxation

Correction

The date of the Spring Tax Conference was previously advertised as May 21. The correct date is May 17.

CPE Earn up to 8 technical credits REGISTRATION FEES (Code STC) WSCPA Members

$285

Standard Fee

$360

Fees include continental breakfast, lunch, and free parking

WashingtonCPA March/April 2013

www.wscpa.org

conferences

Healthcare

Women’s Leadership

Conference

Summit May 21, 2013 | 8:00 am - 4:30 pm Meydenbauer Center Bellevue, WA

June 21, 2013 | 8:00 am - 4:15 pm Bell Harbor International Conference Center Seattle, WA

The Healthcare Conference, co-sponsored with the Association of Healthcare Internal Auditors, will provide the latest information you need to stay up to date on regulations, reform and best practices in the healthcare industry. Connect with your peers and learn how to manage the varied and complex changes affecting accounting, finance and internal audit in your industry. Sessions include:

Attendees at last year’s Women’s Leadership Summit said:

• • •

State of the State in Healthcare Disaster Recovery Hospital Charity Care - Connecting the Dots Between Your Financial Statements, Form 990 and the Cost Report • Value Based Payments • Enterprise Risk Management • Meaningful Use - Audit Approaches • Health Benefit Exchange • HIPAA audits & OCR audit • Lessons Learned in Electronic Records Systems • Recent Developments in Healthcare Fraud and Enforcement

Details

Co-sponsor

LOCATION Meydenbauer Center 11100 NE 6th St Bellevue, WA 98004

Sponsors

The date of the Healthcare Conference Members $250 wasWSCPA previously advertised as May 17. TheStandard correct date Fee is May 21. $325

“Having been in leadership for years, I did not think I would learn much, but I received many ideas from each speaker that can help me as a leader and mentor.” “Very empowering conference. A fantastic opportunity, very useful, educational and motivational. Bring Mary Holt back!” Register now for this year’s Women’s Leadership Summit! Mary Davis Holt, acclaimed speaker and author of Break Your Own Rules is back, and for more sessions! No matter where you are in your career stage, the Women’s Leadership Summit will inspire and equip you with practical tools. Leverage this opportunity to connect with other women leaders in the accounting profession. Hear from some phenomenal speakers and walk away from the experience a bit more empowered. Sessions include: • • • • •

Do You Project Personal Power? Spinach in Your Teeth Success With and Without a Roadmap The Resilient Leader Are You Thriving or Surviving?

Take advantage of the networking activities throughout the day as well as a hosted reception after the closing session. Key Sponsor

CPE Earn up to 8 technical credits REGISTRATION FEES Correction (Code HCC)

“Such a great conference!”

Supporting Sponsor Fees include continental breakfast, lunch, and free parking

Details LOCATION Bell Harbor International Conference Center 2211 Alaskan Way Pier 66 Seattle, WA 98121

REGISTRATION FEES (Code WLS)

CPE Earn up to 8 non-tech credits

WSCPA Members

$300

Standard Fee

$375

Fees include continental breakfast, lunch, reception and free parking

WashingtonCPA March/April 2013

new Business & Management CONFERENCE

Inspiration. Information. Ideas. Only at BAM! Connect with your peers at the premier CPE event of the year for CPAs in business and management. This new conference features tracks on finance, technology, and leadership. Top local and national speakers will inform and inspire you. Plan now to attend this amazing conference.

top national

speakers

Jan McGlaughin Greg LeClair

Jeff Magee

Leadership

Technology 28

WashingtonCPA March/April 2013

Michael Kiefer

and more!

3 tracks Finance

Annie Searles

June 28 Meydenbauer Center Bellevue, WA

CPE DIgest

Photo Album ConferenceS

Fraud Conference December 7, 2012

Finance Track • Proposed Accounting for Leases • Hot New State Tax Developments • Proposed Accounting for Revenue Recognition From Contracts with Customers • Managing the Risk of Cyber Fraud Technology Track • Tablets: Convenience or More? • Microsoft Office 2013 – New Features for Improved Productivity • Excel’s Three Tables: A Powerful Trio • One Note: The Tool That Makes Your Life Easier Leadership Track • The Chaotics of Business LeadershipToday & Ensuring Your ROI Tomorrow • Leadership from a Slightly Different Perspective • Speed Learning - Speed Reading and Memory Skills • People Reading Skills to Improve Communication Efficiency and Reduce Conflict Bonus Session • What Can You Do to Prepare for the Better Future Financially?

Details

General Sessions • Performance Execution: Moving Yourself & Your Team to the Next Level in Business Success • Impression Management: Influencing Others • The Future of the Profession

Information Technology Conference December 10-11, 2012

What’s new? Meet and connect with even more of your peers at WSCPA Conferences. Larger conferences and organized networking activities (such as group paintings, Lego building, photo booths) allow even more opportunities to network. Photo booth at the 2012 Not-For-Profit Conference.

LOCATION Meydenbauer Center 11100 NE 6th St Bellevue, WA 98004 CPE Earn up to 9 credits

Paint by numbers at the 2012 Pacific Tax Institute.

REGISTRATION FEES (Code BAM) WSCPA Members

$249

Standard Fee

$324

www.wscpa.org

Fees include continental breakfast, lunch, and free parking

WashingtonCPA March/April 2013

CPE DIgest

NEW CPE

events by location WSCPA education and events scheduled for March-May, 2013 are listed below, chronologically by location. If you are looking for a program in another location, it may be scheduled for later in the year. Using the online CPE/Event Catalog at www.wscpa.org/CPE/ catalog, you can search by location. 2013 EVENT SCHEDULE To view and search the schedule of events through May 2013, visit the CPE/Event Catalog at www.wscpa.org. LEARN MORE To view complete course details, please visit the CPE/ Event Catalog at www.wscpa.org/CPE/catalog.

events added daily to: www.wscpa.org/CPE/catalog

A&A CS EB PFP

SUBJECTS The main subject area is listed for each program.

Ethics GNP MG PD SK

Need help finding a seminar or webcast? Call (800) 272-8273 or (425) 644-4800.

TAX TEC

Fees

Date

CPE Credits

Course

WSCPA NonAICPA Code Member Member Member For more details, Discount Fee Fee search by code at www.wscpa.org/cpe

Facility

Applying Project Management Principles to Increase Speed and Reduce Costs on Short and Long Term Projects, 8-11:30am

APMP401

WSCPA

Type

Accounting and Auditing Consulting Services Employee Benefits Estate/Financial Planning Ethics Government / NFP Management Personal Development Specialized Knowledge Taxation Technology

Subject

Bellevue ç Mar 12

ç Mar 12

Mar 13

6 Staying Healthy, Balanced and Stress Free, 12:30-4pm

ç Mar 13

6 Accelerated Time Management - Doing Twice as Much in Half the Time, 8-11:30am

Mar 13

6 Maintaining Positive Workplace Attitudes, 12:30-4pm

Mar 14

Charting with Excel, 8am-4pm

Crystal Reports Intermediate, 8am-4pm

185

SHBS401

150

185

WSCPA

COMEXC

250

325

WSCPA

TEC

ATM401

150

185

WSCPA

MPWA401

150

185

WSCPA

COMCR2

250

325

WSCPA

TEC

Mar 15

Excel Pivot Tables, 8am-4pm

COMEXP04

250

325

WSCPA

TEC

Mar 15

CFO Series - Bank Financing and Financial Statement Analysis, 8am-4pm

CFOSB

285

360

WSCPA

Mar 18

Washington CPA Regulatory Ethics for Accountants by James Rigos (WA State Requirement), 8-11:30am

CENRW414

185

220

WSCPA

Ethics

Mar 18

Professional Conduct and Ethics for CPAs and CMAs in Business and Industry (Not WA Ethics Compliant), 12:30-4pm

PCE401

140

175

WSCPA

Mar 21

Essential Skills for the Survival and Growth of Your Organization, 8-11:30am

CL4SGYC

150

185

WSCPA

Mar 21

Controller’s Update: Latest Trends for Today’s Financial Manager, 12:30-4pm

CL4SKSB

150

185

WSCPA

Mar 21

1.5

Fraud Discussion, 7:30-9am

CHBA07

Red Lion Bellevue Inn

A&A

S l

ç Mar 22

Expand Your Value-Adding Skills: Uncovering the CPAs Worth to the Organization, 8-11:30am

CL4ERI

150

185

WSCPA

Mar 22

Lean Accounting: Transforming Your Accounting Function for Maximum Performance, 12:30-4pm

CL4SUAF

150

185

WSCPA

ç Mar 25

Simplify Your Strategic Planning Process: Useful Tips and How-To Guidance, 8-11:30am

CL4SPPC

150

185

WSCPA

ç Mar 25

Real-World Solutions to Tricky Issues Facing Today’s Financial Professional, 12:304pm

CL4TIFP

150

185

WSCPA

ç Mar 26

COSO Internal Control: One-Size Does Fit All, 8-11:30am

CL4ICDAD

150

185

WSCPA

A&A

ç Mar 26

The Art of Fraud: Recent Findings, Red Flags and Corruption Schemes, 12:30-4pm

CL4TAOF

150

185

WSCPA

A&A

Mar 27

OneNote 2010 Essential Training with Sandy Rylander, 8-11:30am

ONET402

140

175

WSCPA

TEC

Mar 27

Word Tips and Tricks with Sandy Rylander, 12:30-4pm

WTT402

140

175

WSCPA

TEC

Apr 9

Leases and Revenue Recognition: Understanding the New Rules by Jennifer Elder, 8am-4pm

LRR

285

360

WSCPA

Apr 10

Annual Update for Industry by Jennifer Elder, 8am-4pm

AUI

285

360

WSCPA

Apr 11

Business Fraud & Prevention by Jennifer Elder, 8am-4pm

BFP

285

360

Apr 17

Business Law for Accountants, 8am-4pm

BLT02

285

360

Apr 18

1.5

The Value of Internal Control Compliance, 7:30-9am

CHBA08

Apr 19

CFO Series - Financial Statement and Cash Flow Forecasting and Modeling, 8am4pm

CFOSF

285

S l

150

WashingtonCPA March/April 2013

WSCPA

Red Lion Bellevue Inn

A&A

360

WSCPA

A&A

-30

Networking Event | S Season Ticket and Coupons N/A

www.wscpa.org

Education and events Fees

Date

CPE Credits

Course

Type

Code

For more details, search by code at www.wscpa.org/cpe

WSCPA NonAICPA Member Member Member Discount Fee Fee

Apr 22

AICPA’s Annual Update for Controllers, 8am-4pm

SKSB02

285

360

Apr 22

Chief Financial Officer: Executive Level Skills for Financial Managers, 8am-4pm

CFO01

285

360

-30

Facility

Subject

WSCPA

A&A

WSCPA

Apr 23

Excel Budgeting and Forecasting Techniques, 8am-4pm

EBT

285

360

WSCPA

TEC

Apr 24

Technology for CPAs: Don’t Get Left Behind, 8am-4pm

TEC02

285

360

WSCPA

TEC

ç Apr 25

Cloud Computing, 8am-4pm

CLC02

285

360

WSCPA

TEC

Apr 29

IPad - The Beginner’s Guide to Setting Up and Using an iPad, 8-11:30am

IPADB401

140

175

WSCPA

TEC

Apr 29

IPad - Advanced Configuration Settings and Content Management, 12:30-4pm

IPADA401

140

175

WSCPA

TEC

Apr 30

IPad - Review of Powerful Business Apps to Maximize Your iPad’s Value, 8-11:30am

IPADR401

140

175

WSCPA

TEC

Apr 30

May 1

Using the iPad and the Cloud to Manage Your Documents On the Go, 12:30-4pm

IPADC401

140

175

Audits of 403(b) Plans: A Challenging New Audit Area, 8am-4pm

FOTB

285

360

-30

WSCPA

TEC

WSCPA

A&A

May 6

Identifying Fraudulent Financial Transactions, 8am-4pm

FEFFT

285

360

-30

WSCPA

A&A

May 7

Statement of Cash Flows: Preparation, Presentation and Use, 8am-4pm

FCFS02

285

360

-30

WSCPA

A&A

May 8

May 9

FASB Review: Common GAAP Issues Impacting All CPAs, 8am-4pm

FRU02

285

360

-30

WSCPA

A&A

Internal Control Deficiencies: Assessment and Reporting Under SAS 115, 8am4pm

ICDAR02

285

360

-30

WSCPA

A&A

ç May 13

CFO/Controller’s Roadmap to Organization Success with Integrated Planning, Forecasting and Budgeting, 8am-4pm

PLFP

295

370

WSCPA

TAX

May 14

Current Developments and Best Practices for Today’s CFO and Controllers, 8am-4pm

TFCO

295

370

WSCPA

TAX

ç May 15

Advanced Employee Benefit Plan Topics, 8am-4pm

AEMP

285

360

-30

WSCPA

A&A

May 16

Revenue Recognition: Getting the New Standard Right, 8am-4pm

RRNS02

285

360

-30

WSCPA

A&A

May 16

1.5

State and Local Taxes, 7:30-9am

CHBA09

Red Lion Bellevue Inn

A&A

Excel Functions, Tips, Tricks & Techniques, 8am-4pm

COMEXF03

250

325

WSCPA

TEC

Healthcare Conference, 8am-4:20pm

HCC

TBA

Meydenbauer Center

Excel Pivot Tables, 8am-4pm

COMEXP05

250

325

WSCPA

TEC

May 20

May 21

S l



May 22

Word Tips, Tricks & Techniques, 8am-4pm

COMWT03

250

325

WSCPA

TEC

May 23

Importing & Exporting Data with QuickBooks, 8am-4pm

COMQBIED

250

325

WSCPA

TEC

May 24

Using Outlook as a Personal Information Manager, 8am-4pm

COMOUT

250

325

WSCPA

TEC

May 24

CFO Series - Valuation, Acquisitions, Capital Projects and Leveraged Buyouts, 8am-4pm

CFOSV

285

360

WSCPA

May 30

Compilation and Review Standards Update and Review by Walter Haig, 8am-4pm

CRUR08

305

380

WSCPA

A&A

May 31

GAAP and OCBOAs for Small and Medium-Sized Entities Update and Review, 8am-4pm

GOSME02

305

380

WSCPA

A&A



Business and Management Conference, 8am-4:20pm

BAM

249

324

Meydenbauer Center

Apr 29-30



Governmental Accounting & Auditing Live Video Conference, 8am-4pm

GAAC3

325

400

University Ctr Everett Community College

GNFP

Jun 11

6 Life Insurance 101: Demystifying the Options and Business Continuity: How to S Protect Your Business and Prevent Data Loss, 7:30-9:30am l

CHSN01

Everett Golf & Country Club

Mar 20

S l

Contoller’s Panel on Month End Close Optimization, 7:30-9:30am

CHPS06

Poodle Dog Restaurant

A&A

Mar 21

S l

Fraud, 8-9am

CHSK17

Golden Steer Restaurant

A&A

Apr 18

S l

Hot Washington Tax Development, 8-9am

CHSK10

Golden Steer Restaurant

TAX

May 16

S l

Retirement Planning, The Basics and Beyond, 7:30-9am

CHSK11

Golden Steer Restaurant

PFP

Jun 20

S l

Future of Accounting Technology, 7:30-9am

CHSK01

Golden Steer Restaurant

TEC

ç Jun 28 Everett

Fife

Kent

www.wscpa.org

Networking Event | S Season Ticket and Coupons N/A

WashingtonCPA March/April 2013

Education and events

Fees

Date

CPE Credits

Course

Code

WSCPA NonAICPA Member Member Member Discount Fee Fee

Facility

Subject

For more details, search by code at www.wscpa.org/cpe

Type

Mar 20

S l

New Washington Tax Developments, 7-9am

CHSV08

Brown Bag Cafe

TAX

May 15

S l

Integrating Sustainability in CAPEX Decisions, 7-9am

CHSV09

Brown Bag Cafe

Jun 19

S l

Fraud: An Ounce of Prevention is Worth a Pound of Cure, 7-9am

CHSV01

Brown Bag Cafe

A&A

Mar 6

S l

IFRS: The Basics, Part 1 and 2, 11:45am-1:45pm

CHOM09

Indian Summer Golf

A&A

May 1

S l

Following the Money: Fraud, 12-1pm

CHOM010

Indian Summer Golf

A&A

Accounting and Reporting Standards Annual Update and Review by Walter Haig, 8am-4pm

ARSUR04

525

640

Harborside Inn

A&A

Member Mixer at the World Trade Center, 6-8:30pm

NP13

World Trade Center



Spring Tax Conference, 8am-4:30pm

STC

275

325

Bell Harbor International Conference Center

TAX

Creating Community Connections at FareStart, 6-8:30pm

NP04

FareStart

TAX

WLS

TBA

Bell Harbor International Conference Center

Kirkland

Olympia

Port Townsend May 16-17

Seattle ç May 1 ç May 17

ç Jun 19 Jun 21

 Women’s Leadership Summit, 8am-4:15pm 6

Spokane Apr 16

Business Law for Accountants, 8am-4pm

BLT03

285

360

Hampton Inn Spokane

Apr 23

Chief Financial Officer: Executive Level Skills for Financial Managers, 8am-4pm

CFO02

285

360

Hampton Inn Spokane

Apr 29-30



Governmental Accounting & Auditing Live Video Conference, 8am-4pm

GAAC2

325

400

Northeast WA Educational Service District 101

GNFP

Happy Hour Networking Event, 5-7pm

NP12

Clinkerdaggers

May 14

-30

May 28

Compilation and Review Standards Update and Review by Walter Haig, 8am-4pm

CRUR07

305

380

Hampton Inn Spokane

A&A

May 29

GAAP and OCBOAs for Small and Medium-Sized Entities Update and Review, 8am-4pm

GOSME01

305

380

Hampton Inn Spokane

A&A

Expanding Your Network Luncheon, 6-8:30pm

NP03

DoubleTree Hotel Spokane City Center



Governmental Accounting & Auditing Conference, 8am-4pm

GAAC

375

450

Courtyard Marriott Tacoma

GNFP

2013 Golf Tournament, 1pm-

GOLF01

120

Bear Creek Country Club

WNR332

Webinar

TAX

ç Jun 11 Tacoma Apr 29-30

Woodinville Jun 10

Your Desk - Webcasts and Webinars ç Mar 1

WEBINAR Key Tax Issues for Industry - Implementing Health Care Reform, 11am-1pm

Mar 4

WEBINAR Tax Practice Ethics: Best Practices (Not WA Ethics Compliant), 8-10am

WNR333

Webinar

TAX

ç Mar 4

WEBINAR CHANGE American Taxpayer Relief Act of 2012, 11am-1pm

WNR334

Webinar

TAX

Mar 5

WEBCAST Auditing for Fraud, 11am-1pm

WEB413

109

Webcast

A&A

Mar 5

WEBCAST What Does Fraud Look Like? 3-5pm

WEB441

109

Webcast

A&A

Mar 5

WEBINAR Outlook Part 1 - E-Mail Management Tips and Techniques (Basic), 8-10am

WNR335

Webinar

TEC

Mar 5

WEBINAR Outlook Part 2 - E-Mail Management Tips and Techniques (Advanced), 11am-1pm

WNR336

Webinar

TEC

Mar 6

WEBINAR Outlook Part 3 - Calendar & Contact Management Tips & Techniques, 8-10am

WNR337

Webinar

TEC

ç Mar 7

WEBCAST Administrative Rules for Federal Grants, 8:30am-4:30pm

WEB269

255

295

Webcast

GNFP

Mar 7

WEBINAR How Is Mobile Computing Changing Business Practices Today? 11am1pm

WNR338

Webinar

TEC

WashingtonCPA March/April 2013

Networking Event | S Season Ticket and Coupons N/A

www.wscpa.org

Education and events Fees

Date

CPE Credits

# ç Mar 8

Course

Type

WEBINAR Fraud and Abuse in Government Entities, 8-10am

Code

WSCPA NonAICPA Member Member Member Discount Fee Fee

Facility

Subject

WNR339

Webinar

A&A

For more details, search by code at www.wscpa.org/cpe

ç Mar 8

WEBINAR Fraud and Abuse in Nonprofits, 11am-1pm

WNR340

Webinar

A&A

Mar 9

WEBCAST-SATURDAY Free Cash Flow - The Key to Shareholder Value, 7am-2pm

SWEB071

195

225

Webcast

Mar 9

SWEB075

195

245

Webcast

6 WEBCAST-SATURDAY In Depth Memory Training, 7am-3pm

Mar 11

WEBCAST How Good Companies Become Great, 8-10am

WEB414

109

Webcast

Mar 11

WEBCAST Change Management: Making Improvement Happen, 10am-12pm

WEB415

109

Webcast

Mar 11

WEBCAST Strategic Sourcing - Supply Chain of Excellence, 12-2pm

WEB416

Webinar

Mar 11

WEB442

129

159

Webcast

ç Mar 11

6 WEBCAST Triple Your Memory and Confidence, and Halve Your Stress, 6-10am WEBCAST Leases: Past, Present and Future, 8:30am-4:30pm

WEB2

255

295

Webcast

A&A

Mar 11

WEBINAR Repairs to Tangible Property - Capitalize or Expense? 11am-1pm

WNR341

Webinar

TAX

Mar 11

WEBINAR Travel & Entertainment Expenses: Review & Update, 8-10am

WNR342

Webinar

TAX

Mar 12

WEBCAST The Five Acquisition Questions: What They Are, Why They Matter and How To Answer Them, 2-4pm

WEB417

109

Webcast

Mar 12

WEBCAST Creating the Best Projections You Can, 4-6pm

WEB443

Webinar

Mar 12

WEBCAST IFRS and Financial Reporting, 8:30am-4:30pm

WEB271

255

295

Webcast

A&A

Mar 13

WEBCAST The CFO’s Role in Operational Control, 6-8am

WEB418

109

Webcast

Mar 13

WEBCAST Pricing for Profitability - Why Cost Matters, 10am-12pm

WEB419

109

Webcast

Mar 13

Mar 14

WEBCAST The CFO’s Role in Banking and Financing, 2-4pm 6 WEBCAST Marketing For CPAs, 6-10am

WEB420

109

Webcast

WEB444

129

159

Webcast

Mar 14

WEBINAR PowerPoint Level 1 - Creating Professional Presentations, 8-10am

WNR343

Webinar

TEC

Mar 14

WEBINAR PowerPoint Level 2 - Advanced Presentation Design, 11am-1pm

WNR344

Webinar

TEC

ç Mar 15

WEBCAST Cost Reduction Strategies, 8:30am-4:30pm

WEB272

255

295

Webcast

ç Mar 18

WEBCAST Recognizing Sham Transactions, 8-10am

WEB421

109

Webcast

A&A

Mar 18

WEBCAST Enterprise Risk Management for SMEs - Small to Medium Enterprises: Risk Plays No Favorites, 11am-3pm

WEB445

129

159

Webcast

Mar 19

WEBCAST Reformatted Financial Statements, 10am-12pm

WEB446

109

Webcast

A&A

Mar 19

WEBCAST Basic Concepts of Governmental Accounting, Financial Reporting and Auditing, 8:30am-4:30pm

WEB273

255

295

Webcast

GNFP

Mar 19

WEBINAR Excel - How to Build a Spreadsheet for Beginners, 8-10am

WNR345

Webinar

TEC

Mar 21

WEBCAST The CFO’s Role in Banking and Financing, 8-10am

WEB422

109

Webcast

Mar 21

WEBCAST 2012 Compilation & Review Engagements, 8am-4pm

WEB447

195

245

Webcast

A&A

Mar 21

WEBINAR Excel - Tips for Eliminating Errors from Your Spreadsheets, 11am-1pm

WNR346

Webinar

TEC

Mar 22

WEBCAST 2012 Risk Assessment, 7-9am

WEB448

109

Webcast

A&A

ç Mar 22

WEBCAST FASB Convergence: More Changes on the Financial Reporting Horizon, 8:30am-4:30pm

WEB275

255

295

Webcast

A&A

Mar 23

WEBCAST-SATURDAY What Does Fraud Look Like?, 11am-1pm

SWEB072

109

Webcast

A&A

Mar 23

ç Mar 25

WEBCAST-SATURDAY 2012 Audit Planning, 7-9am 6 WEBCAST-SATURDAY Triple Your Memory and Confidence, and Halve Your Stress, 11am-3pm WEBCAST Fraud and the CPA Profession, 8:30am-4:30pm

SWEB076

109

Webcast

A&A

SWEB077

129

159

Webcast

WEB276

255

295

Webcast

A&A

Mar 25

WEBINAR Fraud and Abuse: A Comprehensive Control System, 11am-1pm

WNR347

Webinar

A&A

Mar 25

WEBINAR Fraud: The 10 Biggest Risks for 2012, 8-10am

WNR348

Webinar

A&A

ç Mar 26

WEBCAST Alphabet Soup: Financial and Tax Considerations for Employer Stock Options, Restricted Stock and Other Executive Compensation Benefits, 4-6pm

WEB449

109

Webcast

TAX

Mar 26

WEBINAR Excel - Financial Analysis Using Financial Functions, 8-10am

WNR349

Webinar

TEC

Mar 27

WEBINAR Excel - Spreadsheet Design Techniques You Must Know - Part 1, 8-10am

WNR350

Webinar

TEC

Mar 27

WEBINAR Excel - Spreadsheet Design Techniques You Must Know - Part 2, 11am-1pm

WNR351

Webinar

TEC

Mar 28

WEBCAST Free Cash Flow - The Key to Shareholder Value, 7am-2pm

WEB423

195

225

Webcast

ç Mar 28

WEBCAST The Top 10 Legal Mistakes Companies Make and How to Avoid Them, 7-9am

WEB424

109

Webcast

www.wscpa.org

Networking Event | S Season Ticket and Coupons N/A

WashingtonCPA March/April 2013

Education and events

Fees

Date

CPE Credits

Course

Type

Code

WSCPA NonAICPA Member Member Member Discount Fee Fee

Facility

Subject

For more details, search by code at www.wscpa.org/cpe

Mar 28

6 WEBCAST Time Mastery For CPAs and Financial Professionals Part 1 - Draining the Swamp: How to Maximize Your Productivity and Satisfaction, 7-11am

WEB450

129

159

Webcast

Mar 28

6 WEBCAST Time Mastery For CPAs and Financial Professionals Part 2 - Fighting the Alligatiors: How to Maximize Your Productivity & Satisfaction, 11am-3pm

WEB451

129

159

Webcast

Mar 28

WEBINAR Excel - Best Practices for Printing and Formatting Your Spreadsheets, 8-10am

WNR352

Webinar

TEC

Mar 29

WEBCAST Audit Standards Update: The Audit Risk Assessment Standards, 8:30am-4:30pm

WEB277

255

295

Webcast

A&A

Apr 4

WEB452

195

245

Webcast

Apr 5

WEB454

109

Webcast

TAX

6 WEBCAST In Depth Memory Training, 7am-3pm WEBCAST International Tax Topics - U.S. Citizens & Resident Aliens Working Abroad, 8-10am

Apr 5

WEBCAST Free Cash Flow - The Key to Shareholder Value, 9am-4pm

WEB455

195

225

Webcast

Apr 5

WEBCAST Alphabet Soup: Financial and Tax Considerations for Employer Stock Options, Restricted Stock and Other Executive Compensation Benefits, 12-2pm

WEB456

109

Webcast

TAX

Apr 6

WEBCAST-SATURDAY 2012 Compilation & Review Engagements, 7am-3pm

SWEB079

195

245

Webcast

A&A

Apr 8

6 WEBCAST Getting on Top of It All: The New Science for Increasing Productivity in Yourself and Others, 6-10am

WEB457

129

159

Webcast

Apr 8

6 WEBCAST Triple Your Memory and Confidence, and Halve Your Stress, 11am3pm

WEB458

129

159

Webcast

Apr 10

WEBINAR Using the iPad and the to Manage Your Documents on the Go, 8-10am

WNR355

Webinar

TEC

Apr 10

WEBINAR Managing Your E-Mail Calendar & Contacts on Your Mobile Device, 11am-1pm

WNR358

Webinar

TEC

Apr 11

WEBCAST What Does Fraud Look Like?, 6-8am

WEB459

109

Webcast

A&A

Apr 11

WEBCAST When Leadership Fails, 8-10am

WEB460

109

Webcast

A&A

Apr 11

WEBCAST Preventing Legal Issues On Construction Projects, 9-11am

WEB461

109

Webcast

Apr 11

WEBCAST Auditing for Fraud, 12-2pm

WEB463

109

Webcast

A&A

Apr 11

WEBINAR Excel - How to Maximize the Accuracy of Your Trial Balalance and Financial Statements Part 1, 11am-1pm

WNR356

Webinar

TEC

Apr 11

WEBINAR Excel - How to Maximize the Accuracy of Your Trial Balalance and Financial Statements Part 2, 11am-1pm

WNR357

Webinar

TEC

Apr 12

WEBINAR iPad - Advanced Configuration Settings and Content Management, 11am-1pm

WNR361

Webinar

TEC

Apr 12

WEBINAR The Beginner’s Guide to Setting Up & Using an IPad, 8-10am

WNR360

Webinar

TEC

Apr 15

WEBCAST Creating the Best Projections You Can, 7-9am

WEB464

Webinar

Apr 15

WEBCAST 2012 Compilation & Review Engagements, 7am-3pm

WEB465

195

245

Webcast

A&A

Apr 15

WEBCAST The Five Acquisition Questions: What They Are, Why They Matter and How To Answer Them, 11am-1pm

WEB466

109

Webcast

Apr 16

WEBCAST 2012 Audit Risk, Materiality, and Audit Program Development, 9-11am

WEB467

109

Webcast

A&A

Apr 16

WEBCAST Strategic Sourcing - Supply Chain of Excellence, 2-4pm

WEB469

Webinar

Apr 16

WEBINAR Financial Analysis in a Metrics Driven World, 11am-1pm

WNR362

Webinar

A&A

Apr 17

WEBCAST Risk Analysis Management, 12-2pm

WEB470

Webinar

A&A

Apr 17

WEBINAR Crowd Funding I: Donations and Pre-Sales, 8-10am

WNR364

Webinar

Apr 17

WEBINAR Crowd Funding II: Raising Equity (US regulations pending), 11am-1pm

WNR365

Webinar

Apr 18

WEBCAST Accounting Basics For Finance Professionals, 2-6pm

WEB471

129

159

Webcast

Apr 18

WEBCAST Accounting and Auditing Update, 8:30am-4:30pm

WEB278

255

295

Webcast

A&A

Apr 19

WEBCAST Contemporary Cost Concepts Understanding Activity-Based Costing, 11am-1pm

WEB472

109

Webcast

A&A

Apr 19

WEBCAST Internal Control:Your Number-One Defense Against Errors and Fraud, 8:30am-4:30pm

WEB279

255

295

Webcast

A&A

Apr 19

WEBCAST Financial Reporting for Private Companies and SMEs: The Approaching Perfect Storm!, 8:30am-4:30pm

WEB2

255

295

Webcast

A&A

Apr 20

WEBCAST-SATURDAY Free Cash Flow - The Key to Shareholder Value, 8am-3pm

SWEB081

195

225

Webcast

Apr 20

WEBCAST-SATURDAY The Top 10 Legal Mistakes Companies Make and How to Avoid Them, 11am-1pm

SWEB082

109

Webcast

Apr 22

WEBCAST Washington CPA Ethics and New Developments (A WA Requirement), 8-11am

WEB281

164

194

Webcast

Ethics

WashingtonCPA March/April 2013

Networking Event | S Season Ticket and Coupons N/A

www.wscpa.org

Education and events Fees

Date

CPE Credits

Course

Type

Code

For more details, search by code at www.wscpa.org/cpe

WSCPA NonAICPA Member Member Member Discount Fee Fee

Facility

Subject

Apr 22

WEBCAST Washington Sales Tax and New Developments, 12-4pm

WEB282

129

159

Webcast

TAX

Apr 22

WEBCAST Creating the Best Projections You Can, 8-10am

WEB473

Webinar

Apr 23

WEBCAST Lean Accounting, 8-10am

WEB474

109

Webcast

A&A

WEBCAST Avoiding Problems in Conducting Single Audits, 8:30am-4:30pm

WEB283

255

295

Webcast

GNFP

Apr 24

WEBCAST Creating Competitive Advantage: Developing a Roadmap for Sustainable Performance, 7-9am

WEB475

109

Webcast

Apr 25

WEBCAST Enterprise Risk Management for SMEs - Small to Medium Enterprises: Risk Plays No Favorites, 7-11am

WEB476

129

159

Webcast

Apr 26

WEBCAST Reformatted Financial Statements, 7-9am

WEB477

109

Webcast

A&A

Apr 26

WEBCAST Accounting’s Perfect Storm: The Coming Changes That Will Impact The Entire Profession, 11am-2pm

WEB478

129

Webcast

A&A

Apr 26

WEBCAST Financial Statement Analysis for Managers, 8:30am-4:30pm

WEB284

255

295

Webcast

ç Apr 26

WEBCAST Nonprofit Financial Management Critical Competencies, Knowledge and Tools, 8:30am-4:30pm

WEB285

255

295

Webcast

GNFP

WEBCAST Governmental Accounting & Auditing Conference, 8am-4pm

WEBGAAC

325

400

Webcast

GNFP

WEBCAST Enterprise Risk Management for SMEs - Small to Medium Enterprises: Risk Plays No Favorites, 1-5pm

WEB479

129

159

Webcast

SWEB084

195

245

Webcast

Apr 29-30

May 2

May 4

May 7

WEBCAST Banking’s Impact From IFRS and Reformatted Financial Statements: Adrift in the Perfect Storm, 1-4pm

WEB480

129

Webcast

A&A

May 10

WEBCAST Banking’s Impact From IFRS and Reformatted Financial Statements: Adrift in the Perfect Storm, 7-10am

WEB481

129

Webcast

A&A

May 13

WEBCAST Pricing for Profitability Why Cost Matters, 6-8am

WEB482

109

Webcast



6 WEBCAST-SATURDAY In Depth Memory Training, 6am-2pm

May 13

WEBCAST The CFO’s Role in Banking and Financing, 10am-12pm

WEB483

109

Webcast

May 13

WEBCAST The CFO’s Role in Operational Control, 12-2pm

WEB484

109

Webcast

May 14

WEBCAST Contemporary Cost Concepts Understanding Activity-Based Costing, 9-11am

WEB485

109

Webcast

A&A

ç May 15

WEBCAST Health Care Industry Accounting & Regulatory Update, 7am-3pm

WEB486

195

245

Webcast

May 18

WEBCAST-SATURDAY International Tax Topics - U.S. Citizens & Resident Aliens Working Abroad, 12-2pm

SWEB085

109

Webcast

TAX

May 21

WEB488

129

159

Webcast

6 WEBCAST Triple Your Memory and Confidence, and Halve Your Stress, 6-10am

May 21

WEBCAST Creating the Best Projections You Can, 7-9am

WEB489

Webinar

May 22

WEBCAST Interviewing and Interrogation, 6-8am

WEB490

109

Webcast

A&A

May 22

6 WEBCAST Shortcuts to Success: The 14 Best Tools for Personal and Professional Growth, 7am-3pm

WEB491

195

225

Webcast

May 23

6 WEBCAST Don’t Go To Work Unless It’s Fun! How CPAs and Financial Professionals Can Become Happier and More Productive, 7am-3pm

WEB492

195

245

Webcast

May 24

6 WEBCAST Time Mastery For CPAs and Financial Professionals Part 1 - Draining the Swamp: How to Maximize Your Productivity and Satisfaction, 6-10am

WEB493

129

159

Webcast

May 24

6 WEBCAST Marketing For CPAs, 7-11am

WEB494

129

159

Webcast

May 24

6 WEBCAST Time Mastery For CPAs and Financial Professionals Part 2 - Fighting the Alligatiors: How to Maximize Your Productivity & Satisfaction, 10am-2pm

WEB495

129

159

Webcast

May 24

WEBCAST 2012 Audit Planning, 11am-1pm

WEB497

109

Webcast

A&A

May 24

WEBCAST 2012 Audit Risk, Materiality, and Audit Program Development, 1-3pm

WEB498

109

Webcast

A&A

May 28

WEBCAST The Five Acquisition Questions: What They Are, Why They Matter and How To Answer Them, 1-3pm

WEB499

109

Webcast

May 29

WEBCAST Health Care Industry Accounting & Regulatory Update, 7am-3pm

WEB500

195

245

Webcast

www.wscpa.org

Networking Event | S Season Ticket and Coupons N/A

WashingtonCPA March/April 2013

Registration

Register online at www.wscpa.org/CPE/catalog or: â&#x20AC;˘ Call (425) 644-4800 or (800) 272-8273 (toll-free in Washington) Questions? E-mail cpe@wscpa.org or call the WSCPA.

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WashingtonCPA March/April 2013

www.wscpa.org

classified ads

Detailed advertising information is available online at www.wscpa.org. Ads are $1 per word with a minimum fee of $50. Active e-mail and web site addresses are included. Classified Ads are placed on the website for 60 days when received and in the next magazine when received by the deadline (March 25 for the May/June 2013 issue). Positions available ads are for magazine placement only. To post a job listing, visit the Career Center at www.wscpa.org. Want to list a rental or vacation property? Use the Miscellaneous category. Contact Sharon Olene-Marander at (425) 586-1138, (800) 272-8273, Ext. 1138, or classifieds@wscpa.org for more information. All ads must be pre-paid. Find classified ads at www.wscpa.org under Newsroom. POSITIONS AVAILABLE Established Bellingham CPA firm is seeking a tax manager to join our team of professionals. 5+ years of tax experience required. Collaborative working environment, excellent advancement opportunities and salary and benefits package. Submit resume and cover letter to VSH, CPA’s, 2200 Rimland Drive, Suite 205, Bellingham,WA 98226,Attn: H/R OFFICE SPACE Available for Lease in East Bellevue: Corner Office in Professional Suite. Second floor 130 square foot office in congenial suite in 520 corridor. Conference room, reception area, free parking, ample natural lighting, operable windows,A/C, coffee service, copier, fax, shower, Comcast high-speed Internet. Close to bike trail. $1275/month. Contact (425) 462-7070 ext. 1 or theo@vjbk.com. Available for Lease:1st floor of office building. 1,444 square feet accommodates 6-8 desks plus reception area. Recent renovation includes dedicated kitchen, ADA bathroom, large windows, air conditioning and storage. Lower Queen Anne close to Seattle Center with nearby parking and private entrance. $12.40 per square foot inclusive.View on-line/contact at LindleyPropertiesLLC.com or call (206) 332-0386. MERGERS & SALES Seattle CPA interested in purchasing Seattle tax practice. I am particularly interested in serving the tax planning and preparation needs of high net worth clients in the Seattle Metro area. Have provided these services to such clients over the past few tax seasons. Please contact Gary at gjeweler@jewelerandassociates.com. Everett/Bellevue CPA andWealth Management firm seeking owners wishing to transition into retirement. We have successfully merged with other local owners allowing them to take care of their long-term client base,work part-time during the transition,offer a wider array of services to help their clients and provide retirement income to the owner. Our client base is as broad as the services we offer but we specialize in individuals and small business. Please contact the owner, Brian Evans at (425) 252-6909 or email to brian@ bauerevans.com. Please visit www.bauerevans.com and www.bondstreetwealth.com. Considering Selling Your Practice? Consider all your options.We do the work. Confidential.We have buyers actively seeking practices. Call Mark Hause at (877) 345-7722 or visit our website at www.accountingpracticesales.com. Accounting Practice Sales. We make dreams happen!

www.wscpa.org

PRACTICES FOR SALE Contact Mark Hause atAccounting Practice Sales by e-mail at MARKHAUSE@CONTACTAPS. COM or call (877) 345-7722 for more information on the following practices: South EastWashington (Whitman/Asotin County) CPA Practice for Sale: This wellestablished CPA practice with an emphasis on tax preparation is for sale. The firm provides hands on personalized customer service that has created a client base that is extremely loyal and includes multiple generations of clients. In addition, the firm possesses many opportunities for growth coupled with a bottom line that is well above average. The result is a practice that many look for but seldom find when pursuing opportunities to own a firm or to expand a firm’s service footprint. This firm is at a price point that any serious buyer should move on this opportunity. Grays Harbor County Area Enrolled Agent Practice for Sale: This enrolled agent practice is primed for growth with a good mix of income tax and write-up professional services. The firm has excellent visibility due to being located on a high traffic count street and has been in the area for a number of years. In addition, the Seller offers the ability to retain the existing location which will make the transition of clients easy. This firm is a great opportunity for any number of buyers from a business minded accountant, to a firm looking to grow a book of business or offer an up an coming young associate ownership.

services. The firm has a history of stability that has fostered excellent client relationships that provide consistent referrals. This firm is further enhanced by an outstanding staff that has outstanding credentials making this firm unique in its ability to provide quality professional services at all service levels to all clients. The financial advisory segment of this practice makes it an obvious advantage for any firm looking to add to their suite of professional services. Any firm with designs on expanding services, looking for expertise, along with an outstanding client list has found an opportunity that is hard to beat with this firm. IBA Sells Privately Held Companies. Do you represent a client who is ready to retire or has taken a company as far as they want to or can? IBA is the Pacific Northwest’s oldest business brokerage (M&A) firm.We are professional negotiators with over 4000 completed transactions. Please contact us if we can be of assistance at (800) 218-4422 or www.ibainc.com. VOLUNTEER POSITIONS The following organizations need a CPA to serve on the board of directors and/or provide other guidance on financial matters. Learn more at www.wscpa.org (enter “volunteer positions” in the search box). Coyote Central 20179 Education Across Borders - New Ginger’s Pet Rescue Hearing Speech and Deafness Center - New

Spokane CPA Firm for Sale: This well rounded CPA firm renders professional services in the areas of write-up, income tax, compilation(s), review(s), and auditing. The firm has long term relationships with most of the clients while continuing to accept new business which fuels the continuing growth of the practice. The practice has a variety of clients in all industries but does serve a number of non-profit entities in a variety of capacities.The owner seeks to retire but would be available for transition to the new owner through tax season. This practice is primed for a new owner and continued prosperity.

Helping Link

North Olympic Peninsula-Clallam County CPA Practice for Sale: This firm is a tax practice that many seek but few find with a significant amount of business returns coupled with the personal income tax returns that follow. The firm has an excellent location with a high traffic count which fosters walk-in business. The perfect buyer for this practice is a financially successful CPA looking for a practice that has a solid year round income from a variety of fiscal year ends that provides a relaxed pace and good work life balance.

Washington Autism Alliance & Advocacy

SOLD

Open Arms Perinatal Services Pet Savers Rainier Therapeutic Riding - New Step It Up Camp The Crisis Clinic of Thurston/Mason Counties The Mockingbird Society - New The Seattle Piano Institute Transitional Resources Vision Loss Connections - New Washington Wildlife and Recreation Coalition WithinReach - New

Join the conversation www.wscpa.org

South Puget Sound Area-CPA Practice for Sale: This CPA practice has a broad range of clients with no concentration in one area and a broad range of services that are rendered in the areas of income tax, auditing, and financial WashingtonCPA March/April 2013

$PAC-075_MENTOR-WA-CPA_Mag_7.375x4.875_MarApr2013.indd 1

1/24/13 10:38 AM

If you have decided this is the last year you want to survive another tax season, you need to call Accounting Practice Sales. We are the leader in accounting and tax practice sales. We know what your practice is worth, how to market your practice, and have buyers actively looking for practices. All you have to do is decide that this will be your last tax season and leave everything else to us.

877-345-7722 e-mail: markhause@contactaps.com

Where Would You R ather Be Next Tax Season? 38

WashingtonCPA March/April 2013

www.accountingpracticesales.com www.wscpa.org

Member profile

Standards, Surfboards, and a Glass of Red Wine Walter Haig, CPA “I love to teach. I love to talk. I love the standards,” said Walter Haig, CPA. A Southern California native and a graduate of the University of Colorado, Walter moved to Spokane in the mid1970s, where he practiced as a CPA until 1998. In 1998 he moved his practice to Creston, Washington. “My love has always been on the accounting side of the profession. So that’s where I have always practiced,” said Walter. For more than 30 years Walter has been helping CPAs stay updated on accounting and auditing (A&A) standards as he teaches continuing professional education courses. Walter stumbled into teaching in the late 1970s, just after the Washington State Board of Accountancy (WBOA) passed a new rule requiring CPAs to take 16 hours of A&A courses every year. The year after the new law passed many CPAs were short on A&A credits, and Russ Davis, WSCPA Executive Director, turned to the Society’s Accounting & Auditing Committee for help. Three members stepped up to write A&A course books, and Walter volunteered to write the Compilation and Review book.This started the Society in the business of writing its own CPE courses, and launched Walter as an instructor. In the early 1980s, Walter briefly taught seminars for the AICPA. Then he started teaching his own courses. Today he teaches about 20 WSCPA courses every year and attendees consistently rate his courses above 4.8 on a 1 to 5 scale. No one falls asleep in Walter’s classes. New attendees to his classes find out quickly that he expects everyone to stay engaged and attentive. Just ask past attendees who were called out for answering their mobile phones or consulting a website during one of his classes. Walter holds himself up to the same www.wscpa.org

standards of excellence, however. When asked how he stays aware of the changes affecting the profession, he explained that he takes a three-pronged approach to staying informed. “Think of it as a three-legged stool. One, on-the-job training. Two, formal CPE. And number three, which I think is most important, is a formalized self-study program. “If you pull out any leg on that stool, it is going to fall over. I think that where most CPAs drop the ball is the failure to have a formalized self-study program, to have a vehicle to stay current with the standards,” said Walter. For his self-study program,Walter religiously scours a number of publications and websites, such as the AICPA, WBOA, and FASB websites, and the Journal of Accountancy, on a monthly basis looking for updates and alerts related to his area of practice. “I know the standards like the back of my hand,” said Walter. “I cannot memorize anything else. Not songs, not Catholic prayers. But God gave me the ability to memorize and recall standards easily.” Today Walter’s practice focuses on litigation support services. He works with attorneys who have been retained to work on cases involving CPAs’ noncompliance with the standards. When he is not teaching or consulting, Walter keeps busy with his family’s ranch and winery, or his sport of choice, standup paddling on surfboards. “You stand on a surfboard with a paddle, and you paddle around on the water. My wife, Judy, and I like to go to Maui in the winter to paddle with the whales, spinner dolphins, turtles, and all the other creatures that swim and live off the coast.” During the summer months, the couple, who have been married for nearly 44 years, paddles on Lake Roosevelt in Creston.

Along the lake, behind Grand Coulee Dam, Walter’s family operates a ranch and Whitestone Winery. “My wife and I and some friends, along with the Gonzaga Prep Football Team planted our vineyard in 1994 within our ranch on a bench overlooking Lake Roosevelt. More than 26,000 vines were planted! In 2001 we started making our own wines.” Although his family didn’t realize their property had ideal conditions for growing wine grapes when they purchased it in 1989, Whitestone Winery’s wines have consistently won gold medals at all of the major national competitions. Robert Parker, a wine industry guru, gave all of their wines released in 2011 at least 90 points. “I’m the official drinker and taster for the winery,” said Walter, who earned his Executive Management Degree in Viticulture and Enology from the University of California, Davis. His son, who lives in Spokane with his wife, runs the ranch and the winery operations. Walter and Judy also have a daughter, who is an accountant, and two granddaughters who live in Seattle. A devoted member of the Catholic Church, Walter probably would have become a priest if he had not become a CPA. Walter said, “God, family, and the standards. Those are my priorities in life.” WashingtonCPA March/April 2013

Periodicals postage paid at Bellevue WA and additional mailing offices

Your Profession. Your Future. Your Advocate.

Spring 2013 CONFERENCES

102 gnirpS

More networking

April 29-30

Governmental Accounting & Auditing Conference May 17

new Spring Tax Conference Larger conferences

May 21

Healthcare Conference June 21

Womenâ&#x20AC;&#x2122;s Leadership Summit

ÂŠ Fire Eyes Photography

June 28

new Business & Management Conference Top notch speakers

Washington Society of Certified Public Accountants