Winter 2024 - Florida CPA Today | Volume 40, Issue 1

WINTER 2024 | VOLUME 40, ISSUE 1

FICPA’S

FOCUS on the

FUTURE Young leaders blazing a trail PAGE 12 CPA mobility update from Shelly Weir PAGE 2 BOI and DBPR notes from Key O’Keefe PAGE 4

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Pipeline People: FICPA’s Young CPAs Are Ready to Lead

12

PRESIDENT & CEO Shelly Weir EDITORIAL COMMITTEE Lynda M. Dennis, CPA, Chair Joel M. DiCicco, CPA Christina Durta, CPA David J. Hochsprung, CPA Jonathan S. Ingber, CPA Keith Johnson, CPA Douglas B. Keith, CPA Michael S. Kridel, CPA Matthew Leto, CPA Ryan A. Myers, CPA Will Quilliam, CPA FICPA STAFF Nick Menta

Communications Manager and FCT Editor

Lindsay Cannizzaro Graphic Designer

Statements expressed herein are those of the identified authors and not necessarily those of the Florida Institute of Certified Public Accountants, Inc. (FICPA), nor should statements be considered endorsements of products, procedures or otherwise.

The FICPA reserves the right to reject any editorial material or paid advertising that does not meet Florida CPA Today criteria or detracts from its ethical and professional standards.

Florida CPA Today is published quarterly by the Florida Institute of Certified Public Accountants, Inc., 250 S. Orange Ave., Suite 300P, Orlando, Fla., 32801.

Telephone: (850) 224-2727 or (800) 3423197. Visit our website at ficpa.org.

This magazine is provided to members of the FICPA. No specific amount of your dues, either expressed or implied, is for this publication. This magazine is not available for purchase by either FICPA members or nonmembers.

For display advertising information, contact FICPA Strategic Partnership Manager Marjorie Stone at 850-521-5950 or MarjorieS@ficpa.org. © 2024 by the Florida Institute of Certified Public Accountants, Inc. All rights reserved. Reproduction in whole or part is prohibited without the express written consent of the FICPA.

President & CEO Shelly Weir, Scholarship recipient Rick Daniel and Chair Key O’Keefe Photos and cover image by Brittany Echemendia / Two Stories Media

FEATURES

CONTENTS

All articles submitted to Florida CPA Today are subject to technical review, Editorial Committee review, space availability, and editing requirements and restrictions.

12 Pipeline People: FICPA’s Young CPAs Are Ready to Lead 16 Recent GASB Standards – What You Need to Know 20 Accounting for Cannabis 22 The Never-Ending Valuation Debate

INSIDE THE ISSUE 2

CEO’s Message

4

Chair’s Message

6

News Briefs

9

Department of Revenue Update

10

Chapter Events

26 Strategic Partner Content 28 Top 250 CPA/PAC Contributors 32 Leadership Academy Graduates 34 Scholarship Foundation 36 Welcome to the FICPA 40 Members on the Move

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Visit issuu.com/ficpa to access and download the digital version of Florida CPA Today.

WINTER 2024 | FLORIDA CPA TODAY

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CHIEF EXECUTIVE OFFICER’S MESSAGE

Change may be coming to CPA licensure, mobility I

SHELLY WEIR president & ceo

“When we talk about CPA mobility, we are talking about your ability to service clients across state lines.”

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FLORIDA CPA TODAY | WINTER 2024

want to start by thanking every one of you who joined us in January for our CPA Day at the Capitol in Tallahassee. The relationships we build with state officials and lawmakers play a vital role in helping us protect and promote the CPA profession in Florida.

mobility. If you were unable to join us live, I strongly encourage you to watch the online replay, which we’ve posted to CPA mobility resource guide on ficpa.org. You can access both the Town Hall and other assets from the AICPA via the URL or QR code on the next page.

Our Governmental Affairs team is busy advocating on your behalf during the 2024 Legislative Session. Each year, I stress that our role on defense – when we protect the profession against proposed legislation with unintended negative consequences – is maybe even more important than what we do on offense – when we work to pass legislation. We’re actively working with legislators to make sure certain proposed bills – specifically HB 1273 Reciprocity or Endorsement of Licensure, HB 1381 / SB 1600 - Interstate Mobility, and HB 497 / SB 382 - Continuing Education – do not impact CPA mobility at a time of great change in our profession.

When we talk about CPA mobility, we are talking about your ability to service clients across state lines or have employees licensed or living in other states service clients in Florida. CPA mobility is the result of decades of work by the AICPA, NASBA and state societies that finally brought every U.S. state and territory into alignment.

On Feb. 7, alongside American Institute of Certified Public Accountants (AICPA) Vice President of State and Regulatory Affairs Marta Zaniewski and Florida Board of Accountancy Director Roger Scarborough, I hosted an FICPA Town Hall focused on

We are anticipating changes to the rules and regulations that govern licensees at both the national and state levels, which will result in a disruption to interstate mobility. The impact will not be contained within state lines. What happens in one state will have significant consequences for CPAs in every other state.

While we work to protect you from potentially burdensome legislation at a state level, the national conversation continues to evolve. As soon as 2024, you and your firm may encounter logistical challenges that have

long been in the profession’s rearview mirror. You may soon have to closely monitor where your employees are licensed, coordinate which clients they serve based on their specific license, and execute the appropriate activity to remain in compliance with various state regulations.

It is our job at the FICPA to make you aware of what’s coming and provide the necessary resources to guide you through these complex challenges. While we cannot control what happens in other state houses, I can assure you that the FICPA is working closely with our own Board of Accountancy and our national partners to ensure that Florida CPAs are put in the best possible position to navigate a changing landscape.

I am personally serving on the

national AICPA task force that is drafting potential solutions to limit this disruption, and I am in regular communication with senior leadership at NASBA and their related legal counsels.

With respect to potential changes at the national level, NASBA’s new Professional Licensure Task Force has issued a call for comments on a potential change to the national Uniform Accountancy Act (UAA) that would create an alternate path to licensure.

This alternate path would allow prospective CPAs to complete a “Structed Professional Program.” This additional path, to be defined in greater detail, would include both an education and experience component to measure a candidate’s competency to be licensed as a

CPA and would be considered equivalent to the current 150-hour pathway defined by the UAA. The development of a structured professional program would require legislative and rule changes that may impact mobility until all states have adopted the new equivalent path. Comments or recommendations can be sent to the UAA Committee at PLTF@nasba.org by March 31, 2024.

For our part, the FICPA aims to be part of a solution that both strengthens the talent pipeline and protects your ability to practice nationwide.

While changes to the UAA will disrupt CPA mobility – just like the state legislation coming in the near future – we are at the forefront of a process that seeks to bring everyone back together.

WINTER 2024 | FLORIDA CPA TODAY

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CHAIR’S MESSAGE

BOI and CPE Reporting: What members need to know W

ith 2024 well underway, FICPA members now need to be aware of two brand-new reporting requirements that were previously just on the horizon. You likely saw a variety of reminders from the FICPA about both of these subjects over the course of 2023. Now that the calendar has flipped, I want to take one more opportunity to put these changes on your radar. One of the reporting requirements will have an impact on your firm and interactions with clients. The other will change the way we renew our CPA licenses in Florida.

KEY O’KEEFE cpa

“Now that the calendar has flipped, I want to take one more opportunity to put these changes on your radar.

BENEFICIAL OWNERSHIP INFORMATION REPORTING Effective Jan. 1, 2024, the Corporate Transparency Act (CTA) mandates that entities must now report their beneficial ownership information (BOI) to the U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN). Many firms will have to file their own BOI report to FinCEN in 2024, and all CPAs will need to decide whether to assist clients in doing the same.

FICPA leadership has been in contact with the Florida Bar, requesting guidance on whether CPAs can file these reports for clients without engaging in the unauthorized practice of law (UPL). Their review process can take more than a year.

Until official guidance is issued, the AICPA recommends all CPAs “consider updating their engagement letters, organizers and checklists to clearly state whether services related to the CTA are included.”

The FICPA has put together a helpful resource page, outlining what you need to know to remain

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compliant with the law and protect yourself against potential risk. I want to underscore that last point and recommend you watch Shelly Weir’s interview with Aon risk consultant Nicole Graham. It’s an informative conversation that covers some key dos and don’ts as we all sort through this new process for the first time.

LICENSE RENEWAL AND CPE REPORTING Florida CPAs up for renewal in 2024 will be the first to encounter the Department of Business and Professional Regulation’s (DBPR) new CPE reporting tool.

The Division of Certified Public Accounting is implementing a new reporting procedure after CPE audits showed compliance well below the state statute’s 95% threshold.

Again, the FICPA has set up a resource page to assist you. At ficpa. org/CPETracker, you’ll find a stepby-step video tutorial for navigating the new reporting tool on DBPR’s website. While the FICPA’s CPE Tracker will prove helpful in managing your documents, it’s important to remember that all CPAs are responsible for uploading their own certificates to DBPR. We strongly recommend you not wait until the last minute to explore the new process and upload your certificates.

Members who have questions about the new reporting process are highly encouraged to contact the FICPA Member Service Center at 850-224-2727. The dedicated staff is working hard to ensure all of us are ready for renewal time.

Visit our Beneficial Ownership Information reporting hub for guidance and resources.

Scan QR code or visit ficpa.org/BOI

WINTER 2024 | FLORIDA CPA TODAY

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FICPA thanks Accounting Opportunities Week volunteers The FICPA would like to thank all its member volunteers who participated in 2023’s Accounting Opportunities Week.

FICPA members visited 12 schools across the state last fall, spreading awareness of the CPA profession and informing students of the limitless potential of the CPA license.

Staged in partnership with the AICPA, Accounting Opportunities Week is a small part of the FICPA’s ongoing efforts to strengthen the CPA pipeline in Florida and secure the future of our profession.

THANK YOU TO THE SCHOOLS AND FICPA VOLUNTEERS LISTED BELOW Brandon High School Jennifer Keller Neemie Chery Cooper City High School Janette Davis Hialeah Gardens High School Kristi Lindgren Jean Ribault High School William Jones Tess Crawford Nicole Kallenberger

FLORIDA CPA TODAY | WINTER 2024

Marjory Stoneman Douglas High School Jack Fintz Marianela Collado David Berdugo Mater Lakes Academy High School Karen Greaves Miami Killian Senior High School Pamela Hoyos Miami Lakes Educational Center Ed Duarte

Milton High School Donna Melillo Poinciana High School Key O’Keefe Asad Ahmad Steinbrenner High School Julio Barna Wiregrass Ranch High School Julian Meji

Notice of Regular Council Meeting FICPA OFFICIAL NOTICE

In compliance with Article XI, Section 6 of the FICPA Bylaws, be it known that a regular meeting of the FICPA Council will be held on: DATE

TIME (ET)

LOCATION

February 20, 2024

3:00 p.m.

Virtual

June 13, 2024

9:00 a.m.

Loews Sapphire Falls Resort, Orlando

September 25, 2024

9:00 a.m.

Virtual

February 25, 2025

9:00 a.m.

Virtual

June 12, 2025

9:00 a.m.

Loews Sapphire Falls Resort, Orlando

Sparkman named Board of Accountancy chair

New Regional Director: Alina Penjiyena The FICPA is dedicated to serving our members throughout the state, and we’re excited to introduce the latest addition to our team!

Brent Sparkman, CPA BOA Chair

William “Bill” Benson, CPA BOA Vice Chair

During the Dec. 15 Florida Board of Accountancy (BOA) meeting in Orlando, Brent Sparkman, CPA, was elected chair of the BOA.

board by Certified Public Accountant members Jason Lasfer, Michelle Maingot, Steven Platau and Caridad Vasallo; and Consumer Members Tracy Keegan and Shireen Sackreiter.

Sparkman succeeds current chair William “Bill” Blend, CPA. Additionally, William “Bill” Benson, CPA, was named BOA vice chair.

Sparkman, Benson and Blend are joined on the

The FICPA congratulates Chair Sparkman and Vice Chair Benson, and we look forward to continuing to work together in the years ahead.

Please join us in welcoming Alina Penjiyeva as the new Regional Director of Membership, serving North Florida, covering Tallahassee east to Jacksonville and St. Augustine and south to the Ocala, Gainesville, Daytona and Deltona areas.

Alina’s MBA in Accounting from Troy University complements her professional experience in real estate and highereducation admissions. This combination of practical and academic knowledge positions her to effectively and uniquely serve the needs and aspirations of our members.

A proud Navy wife, Alina, who is based in Jacksonville, enjoys traveling, Florida’s state parks and beaches, and cheering on the Troy Trojans alongside her two children.

We encourage you to make Alina your first line of communication for all things FICPA membership and regional connectivity in North Florida!

WINTER 2024 | FLORIDA CPA TODAY

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NEWS BRIEFS

CIRA committee holds annual DBPR liaison meeting In December, the FICPA Common Interest Realty Associations (CIRA) Committee held its annual Laison Meeting with the Florida Department of Business and Professional Regulation (DBPR) at DBPR headquarters in Tallahassee.

This important annual meeting is an opportunity for CPAs to interact and ask questions of the DBPR staff they work with on state condominiumand timeshare-related issues.

CIRA Committee Chair Tony Gregory and DBPR Liaison Subcommittee member Dave Hochsprung led a roundtable discussion on topics including CPA levels of service and recent accounting/legislative changes.

Chevonne Christian, Division Director, DBPR Division of Florida Condominiums, Timeshares and Mobile Homes, gave an update on Division/CIRA issues. Topics included 2023 changes in the Division; common financial-related violations, fines and resolutions; red flags that get the Division’s attention or that they look for; Division financial reviewers vs. investigators; and expected changes or potential rulemaking related to SB 154.

FICPA Chief External Affairs Officer Jason Harrell gave a legislative update and discussed draft rules.

The FICPA thanks DBPR for hosting and the CIRA Committee members for helping with planning and traveling to Tallahassee for the meeting.

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FLORIDA CPA TODAY | WINTER 2024

DOR UPDATE

Florida’s motor, diesel fuel tax rates increase

T

he Florida Department of Revenue administers fuel taxes for the state of Florida. Taxed fuels include motor, diesel, aviation and natural gas. By law, the tax rates are adjusted each year and are valid from Jan. 1 to Dec. 31. As of Jan. 1, 2024, the statewide tax rates on motor fuel and diesel fuel increased as follows:

MICHAEL TAY FLORIDA DEPARTMENT OF REVENUE

“As of Jan. 1, 2024, the statewide tax rates on motor fuel and diesel fuel increased.”

MOTOR FUEL The state tax rate increased from 20.2 cents to 21 cents per gallon.

The ninth-cent fuel tax – an additional county tax of up to one cent per gallon – and local option rates vary by county. For a list of ninth-cent and local option rates by county, review the 2024 Florida Fuel Tax, Collection Allowance, Refund and Pollutants Tax Rates at floridarevenue.com/taxes/2024FuelRateChart.

DIESEL FUEL The state tax rate increased from 20.2 cents to 21 cents per gallon.

The county tax rate (ninth-cent, State Comprehensive Enhanced Transportation System [SCETS], and local option tax rates) on diesel fuel increased from 15.3 cents to 15.9 cents per gallon statewide. The total state and county rates on diesel fuel increased from 36.1 cents to 37.4 cents per gallon statewide.

AVIATION FUEL The state tax rate remains at 4.27 cents per gallon.

FILING A RETURN Taxpayers who are obligated to file fuel taxes electronically must use the appropriate method as specified in Rule Chapters 12B-5 and

12-24, Florida Administrative Code.

There is a $5,000 penalty for not filing electronically when required to do so.

Returns are due on the first and are late after the 20th day of the month following the collection period. If the 20th is a Saturday, Sunday or state or federal holiday, returns are timely if filed electronically, postmarked or delivered in person on the first business day following the 20th day of the month.

Taxpayers (or their CPAs) who electronically pay only or electronically file and pay at the same time must initiate their electronic payment and receive a confirmation number no later than 5 p.m. ET on the business day prior to the 20th to avoid penalty and interest. For a list of payment due dates, visit floridarevenue. com/forms and select the current year’s Florida eServices Calendar of Electronic Payment Deadlines (Form DR-659) under the eServices section. Failure to properly file a tax return may result in the assessment of penalty and interest and loss of the collection allowance.

Check the Department’s website, floridarevenue.com, for sample copies of the 2024 returns with the new tax rates. Select “Forms and Publications” under Quick Links on the home page. Additional information, including that pertaining to minimum local option tax on motor fuel collected at fuel terminals, is available at floridarevenue.com/ taxes/TIP23B05-03. If you have questions, call Taxpayer Services at (850) 488-6800.

WINTER 2024 | FLORIDA CPA TODAY

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MEMBERSHIP & CHAPTERS YOUR CHAPTER CONTACTS IVEY ROSE SMITH VP of Membership & Corporate Relations Central Florida & Brevard County Ivey@ficpa.org I 850-521-5918

KAREN DOW Regional Director of Membership Broward & Palm Beach Counties KarenD@ficpa.org I 850-251-5921

KATHRYN HERNANDEZ Regional Director of Membership Miami & The Keys KatH@ficpa.org I 850-521-5951

ALINA PENJIYEVA Regional Director of Membership North Florida AlinaP@ficpa.org I 850-521-5930

JAY PROPST Regional Director of Membership Tampa & Southwest Florida JayP@ficpa.org I 850-521-5946

IVELISSE SANTIAGO Chapter Connections Manager Ivelisse@ficpa.org I 850-521-5919

23 LOCAL CHAPTERS North Florida and Panhandle Central Florida Tampa and Southwest Broward and Palm Beach Miami and the Keys FICPA Advocacy FICPA Headquarters

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Enhancing your engagement and practice through firm visits IVEY ROSE SMITH

VP of Membership & Corporate Relations

T

he FICPA is always on the move and collecting frequent membership miles. As your partner in the profession, we love nothing more than spending time with our members.

We also know that in the vibrant and ever-evolving world of accounting and finance, staying current on the latest industry impacts is imperative. That’s why the FICPA membership team actively engages with members across the state via firm visits.

Firm visits deliver direct, personalized interactions focused on professional updates and comprehensive member-benefits presentations. These visits enable firms to get the most out of their FICPA membership by gaining a clear understanding of the services, resources and support available to them.

During firm visits, the membership team gathers both leadership and staff members before running through critical professional updates that impact the industry and sharing how to use existing benefits to save time and money. These “What You Need to Know Right Now” updates often encompass changes in

MEMBER QUOTE

“We’re glad to have the FICPA in our backyard and so responsive to our needs.”

ROBERT KIMELMAN, CPA

Shareholder | Greene, Dycus & Co., P.A.

accounting practices; license-mobility threats, risks and laws; emerging industry trends and new legislation. We have your back!

As we navigate the intensity of tax season, aligning with industry peers and leaders is more important than ever. Recognizing the time constraints during this period, we encourage you to schedule your essential firm visit after the tax season rush.

Firm visits are a conduit for reinforcing relationships, fostering professional growth, and ensuring that CPAs across our state are well-equipped to navigate the challenges and harness the opportunities ahead.

Contact your regional FICPA membership director today and schedule a posttax season visit. Together, we will multiply impact with collaboration, knowledge, support and a shared vision for the future of CPAs in Florida.

Hancock Askew - Tampa

KSDT - Miami

Grant Thornton - Fort Lauderdale

Cherry Bekaert - Orlando

Bishop & Draper - Jacksonville

WINTER 2024 | FLORIDA CPA TODAY

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Pipeline People FICPA’s Young CPAs are ready to lead NICK MENTA

FICPA Communications Manager

S

eated in the middle of a ballroom at the Centre Club in Tampa for FICPA Scholarship Night, Jennifer Keller can’t help but note the role reversal.

Just 10 years ago, she was graduating from the University of South Florida with her master’s in accounting. More to the point, she was a scholarship recipient herself.

A decade later, she is celebrating the Class of 2023 as a member of the FICPA’s Board of Directors and a future Chair of its Scholarship Foundation.

At the table to her left is Evaristo Palmer, one of the first graduates of the FICPA Leadership Academy.

At the table to her right is Rick Daniel, a two-time scholarship

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FLORIDA CPA TODAY | WINTER 2024

recipient currently studying for the CPA Exam.

Though they come from different backgrounds and are at different stages of their career, their words echo. When they’re asked about the FICPA, they each talk about making connections, learning new skills, building confidence and wanting to show their peers what’s possible.

The FICPA and our Scholarship Foundation remain hard at work in our efforts to secure the future of the profession in Florida and support students, candidates and Young CPAs along the career pathway.

At times, conversations about recruiting and retaining talent can make “the pipeline” sound a little too impersonal. But the pipeline, the profession and the FICPA are all made of one thing: people.

Here’s a look at three young leaders blazing a path for others to follow.

Jennifer Keller Young CPAs looking for an example of what they can accomplish through the FICPA need look no further than Jennifer Keller.

Keller, 33, is a Senior Tax Manager at Crowe who’s climbed the leadership ranks through volunteer service at each level.

In 2025-26, she will ascend to Chair of the Foundation.

FICPA makes you realize you’re part of something bigger.”

“Going from a scholarship recipient to leading the Foundation, it just shows what’s possible, what you can accomplish at the FICPA,” Keller says. “And it’s played a role in what I’ve been able to do so far in my career, going from intern to Senior Manager and hopefully Partner. The FICPA has given me leadership experience that I’ve taken back to my firm. It’s given me the confidence to speak up.”

Keller cites a pair of recent interactions with Palmer as a perfect example. Two weeks after that Scholarship Night back in October, they were having lunch and connecting on a professional level about what they have in common.

It’s also opened her eyes to a bigger picture.

“You don’t get immersed in the profession as a tax manager,” she explains. “But when you start to understand what goes on from an advocacy perspective in Tallahassee, or when you start to build this network of friends and colleagues around the state, the

“I would not know him if not for the FICPA,” she says.

During campus visits, Keller sells students not just on the job security accounting provides but on all you can do with a CPA license. It’s a message she’s all too eager to share.

“My passion lies with the students,” she says. “I know how rough it can be paying for school, and so, truthfully, the Foundation is where my heart is. It gave me so much, and I want to give back.”

Since 2013, she’s been a student member, chair of the West Coast Chapter, chair of the Young CPAs Committee, a graduate of the Emerging Leaders Program currently known as Leadership Academy, a Horizon Award winner, a member of the FICPA’s Board of Directors and a member of the FICPA Scholarship Foundation’s Board of Trustees.

“The FICPA has given me leadership experience that I’ve taken back to my firm. It’s given me the confidence to speak up.”

Scholarship Foundation Chairs Jennifer Keller (2025-26), Steve Morrison (2023-24), and Silvana Capaldi (2024-25) Brittany Echemendia / Two Stories Media

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Evaristo Palmer Evaristo Palmer, 34, is a Senior Manager in Accounting Advisory at Cherry Bekaert. He works out of the firm’s Tampa office, save for the few days each month he’s in Miami – completing an Executive MBA offered by Northwestern University.

In 2022, Palmer was one of 16 graduates who made up the FICPA Leadership Academy’s inaugural class. Staged in partnership each year with the Succession Institute’s Bill Reeb and Tommye Barie, the program welcomes some of the most promising young talents in the state and equips them with skills and strategies they can implement both in and out of the office.

“The things I learned at Leadership Academy have made me feel more comfortable in what is a very competitive environment,” Palmer explains, referring to his MBA program. “I’m able to contribute to my cohort and benefit from a sense of confidence that I might not have had just a few years ago.”

Palmer says the biggest lesson he learned from Leadership Academy is to continually “meet others

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“I’m becoming a leader in my firm and the next step is to become a leader in the profession.” where they are.” Instead of making assumptions, he’s become more intentional about communication.

Rather than talking, he’s asking, listening, relating, empathizing.

Taking that extra time to understand his colleagues has also given him a sharper understanding of his own strengths and weaknesses.

“These are skills that you’re not necessarily going to learn at work, but they are going to help you when you bring them back to

Brittany Echemendia / Two Stories Media

work,” he says. “Our partners now trust me to represent the firm in meetings, at chapter events or even as a mentor to younger staff.”

Next, he intends to put his leadership skills to use as a new member of the FICPA Council.

“The organization has been so great to me, and I want to give back,” he says. “I’m becoming a leader in my firm and the next step is to become a leader in the profession.

“I would encourage any Young CPA – any CPA, really – to get involved. The FICPA is going to help you make connections across industries, across age groups. If you make those relationships early on, it’s going to make your life a lot easier, and it’s going to give you more options. Joining a network this vast can only benefit you.”

covering the cost of tuition.

Thanks to the FICPA Scholarship Foundation, he is both a graduate of St. Thomas, with bachelor’s degrees in accounting and finance, and a current student, working on his MBA in data analytics. He recently completed an internship at PayPal, just started another at KPMG, and is actively studying for the CPA Exam.

Rick Daniel Turning back to that Scholarship Night in Tampa, Rick Daniel has moved from his table to the head of the room. Each recipient is stepping to the podium to share what their scholarships have meant to them personally and to encourage further investment in the Foundation.

As if he hasn’t been busy enough, Daniel is also the founder of the St. Thomas accounting club; he is president of the university’s investment club (they’re managing a $30,000 portfolio); and he worked to establish STU’s National Association of Black Accountants chapter.

“I always make the same pitch to other students: Accounting is the language of business,” he says. “Everybody wants to be an

entrepreneur, but your business isn’t going to operate without accounting. If you want to start a business, you have to know how to run a business. And if you’re spending money on an expensive education, study something of use.

Study accounting.”

At just 23 years old, he’s positioned himself as the face of the profession on campus. Asked if he intends to continue his involvement with the FICPA once he earns his license, he points to Keller’s example.

“Look at all she’s done in a short amount of time,” he says. “Her path shows me what’s possible. She’s proof that it’s possible for young people not just to get involved but to take on leadership positions.

“I will 100% continue to be a part of the FICPA. It’s helped me, and I’m going to want to give back.”

For others, this might be a daunting task – giving a speech in a room full of prospective employers. But Daniel has done this before, on an even bigger stage last June at MEGA. Thanks to a three-minute speech from Daniel, the Scholarship Foundation immediately raised $23,000 in pledges.

The oldest of three children, Daniel and his parents moved to the United States from Haiti in 2003. The first in his family to go to college, he enrolled at St. Thomas University (STU). A standout in both football and track, Daniel was able to secure an athletic scholarship, but he still needed help in

WATCH RICK’S SPEECH FROM MEGA 2023 Scan the QR code below or visit ficpa.org/RickDaniel.

Rick Daniel and Scholarship Foundation Director Jennifer Allen Brittany Echemendia / Two Stories Media

WINTER 2024 | FLORIDA CPA TODAY

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®

Image courtesy of GASB (Governmental Accounting Standards Board)

Recent GASB standards – what you need to know LYNDA M. DENNIS CPA During 2022, the Governmental Accounting Standards Board (GASB) issued three accounting standards state and local governments are required to implement in their next two fiscal years. The GASB expects these standards will improve comparability in accounting and financial reporting and improve consistency within and throughout the GASB’s authoritative literature.

This article provides a high-level discussion of the three standards issued in 2022. Local governments and their auditors should read the full text of each standard (available at www.gasb.org) to ensure a complete understanding of the requirements of each standard. Standards discussed in this article and their respective implementation dates are as follows: GASB Statement No. 99, Omnibus 2022 (GASB No. 99), issued in April, has three different effective dates depending on the covered topic.

GASB Statement No. 100, Accounting Changes and Error Corrections – an amendment of GASB 16

FLORIDA CPA TODAY | WINTER 2024

“This article provides a highlevel discussion of the three standards issued in 2022.

Local governments and their auditors should read the full text of each standard.”

Statement No. 62 (GASB No. 100), issued in June, is effective for fiscal years beginning after June 15, 2023.

GASB Statement No. 101, Compensated Absences (GASB No. 101), also issued in June, is effective for fiscal years beginning after Dec. 15, 2023.

GASB NO. 99 Annually, the GASB issues an omnibus standard to address issues noted in the application or implementation of recent standards. As such, various aspects of this statement were effective (1) upon issuance of the standard, (2) for fiscal years beginning after June 15, 2022, or (3) fiscal years beginning after June 15, 2023.

This section discusses the provisions of GASB No. 99 relating to financial guarantees and derivatives, as these are the only provisions of the statement Florida governments have not yet implemented.

GASB No. 99 clarifies certain provisions of GASB Statement No. 70, Accounting and Financial Reporting for Nonexchange Financial Guarantees, relating to liability and expense/expenditure recognition of nonexchange financial guarantees1 also apply to exchange or exchange-like financial guarantees.

In addition, GASB No. 99 extends note disclosure requirements of nonexchange financial guarantees2 to exchange and exchange-like financial guarantees.

Under GASB No. 99, derivative instruments within the scope of GASB Statement No. 53, Accounting and Financial Reporting for Derivative Instruments, that do not meet the definition of an investment derivative instrument, or the definition of a hedging derivative instrument, are considered “other derivative instruments.” The statement also establishes reporting requirements and note disclosures for “other derivative instruments.”

GASB NO. 100 This statement defines accounting changes as changes in (1) accounting principles, (2) accounting estimates, and (3) the financial reporting entity. It also provides examples of the transactions or events that

constitute an accounting change and establishes accounting and financial reporting requirements for each type of accounting change as well as error corrections.

Under GASB No. 100, certain changes in accounting principles and accounting estimates should be justified because they are preferable to the current principle or estimate.

“Preferable” is required to be based on the qualitative characteristics of financial reporting.3 As stated in GASB No. 100, a change in accounting principle results from (1) a change in one generally accepted accounting principle to a newly adopted accounting principle or (2) the implementation of a new authoritative accounting or financial reporting standard.

Changes in accounting estimates occur due to changes in the measurement inputs or methodology.

Typically, these changes occur

when circumstances change, new information is obtained, or more experience is gained. Generally, a change to/within the financial reporting entity results from changes in the classification of major and non-major funds, the addition/ removal of component units or change in its presentation, and the addition/removal of a fund resulting from the movement of continuing operations. The statement provides examples of how the changes may be determined to be “preferable” to the current principle or estimate.

GASB No. 100 states error corrections result from “mathematical mistakes, mistakes in the application of accounting principles, or oversight or misuse of facts that existed at the time the financial statements were issued4 about conditions that existed as of the financial statement date.” The statement clearly states changing from an accounting principle that is not generally accepted to

Experience the difference of a J.P. Morgan Wealth Partner Burns Wealth Management Group

one that is generally accepted is an error correction and not a change in accounting principle.

For financial reporting purposes, changes in accounting principles are generally reported retroactively by restating beginning equity5 for the cumulative effect of the change on prior periods. In comparative statements, these changes are reported retroactively by restating financial statements for all prior periods presented, if practicable, and reporting the cumulative effect of the change to beginning equity for the earliest period presented. Various note disclosures are required to be presented, whether or not there is a quantitative adjustment to beginning equity, as a result of a change in accounting principle.

Changes in estimates are reported prospectively by recognizing the change in estimate in the period Continued on page 18

Robert Burns CFP®, ChFC®, CPWA®

Managing Director Wealth Partner, Portfolio Manager 3825 PGA Blvd, Floor 9, Palm Beach Gardens, Florida 33410 561.694.5666 robert.m.burns@jpmorgan.com jpmorgan.com/burnswm

Certified Financial Planner Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™, CFP® (with plaque design) and CFP® (with flame design) in the U.S., which it awards to individuals who successfully complete CFP Board’s initial and ongoing certification requirements. Chartered Financial Consultant® (“ChFC®”) are registered trademarks owned by The American College of Financial Services. Investments & Wealth Institute™ (The Institute) is the owner of the certification marks “CPWA,” and “Certified Private Wealth Advisor.” CPWA, and/or Certified Private Wealth Advisor signifies that the user has successfully complete The Institute’s initial and ongoing credentialing requirements for investment management professionals and/or wealth advisors.

J.P. Morgan Wealth Management is a business of JPMorgan Chase & Co., which offers investment products and services through J.P. Morgan Securities LLC (JPMS), a registered broker-dealer and investment adviser, member FINRA and SIPC. Insurance products are made available through Chase Insurance Agency, Inc. (CIA), a licensed insurance agency, doing business as Chase Insurance Agency Services, Inc. in Florida. Certain custody and other services are provided by JPMorgan Chase Bank, N.A. (JPMCB). JPMS, CIA and JPMCB are affiliated companies under the common control of JPMorgan Chase & Co. Products not available in all states.

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WINTER 2024 | FLORIDA CPA TODAY

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Continued from page 17 the change occurs. A change to/ within the financial reporting entity is reported by adjusting beginning equity as if the change was made at the beginning of the reporting period. The statement requires various note disclosures for both of these changes.

Error corrections are reported retroactively by restating beginning equity for the cumulative effect of the error correction on prior periods. All prior periods presented are required to be retroactively restated when comparative financial statements are presented. Various note disclosures are required, whether or not the error correction affects beginning equity, which include a description of the nature of the error and its correction.

GASB NO. 101 GASB No. 101 uses a unified model to update the recognition and measurement requirements relating to compensated absences. This unified model is expected to result in a compensated absences liability at the time a government incurs such an obligation. The statement establishes accounting and financial reporting requirements for compensated absences and associated salary-related payments, including those relating to retirement benefits.

Compensated absences are defined in the statement as, “leave for which employees may receive one or more (a) cash payments when the leave is used for time off; (b) other cash payments, such as payment for unused leave upon termination of employment; or (c) noncash settlements, such as conversion to defined benefit postemployment benefits.” Settlement of the obligation, including payment, may occur during employment or upon termination.

Examples of compensated absences include vacation/annual leave, bereavement leave, and certain types of sabbatical leave.6 18

FLORIDA CPA TODAY | WINTER 2024

Compensated absences are recognized as a liability differently based on what measurement focus is used in preparing the financial statements. In financial statements prepared using the economic resources measurement focus, the liability is recognized for (1) leave that has not been used7 and (2) leave that has been used but not yet paid/ settled. Such leave amounts are required to also include salary-related payments that are directly and incrementally associated8 with the leave. All salary-related payments are calculated using rates in effect at the financial statement date.

For financial statements prepared using the current financial resources measurement focus, the compensated absences liability is accounted for consistent with accounting principles for governmental funds.

Amounts recognized as expenditures are those that are normally expected to be liquidated with expendable available financial resources.

Currently required note disclosures relating to liabilities for compensated absences remain virtually unchanged in GASB No. 101. However, governments no longer have to report the increase and decrease in the liability on a gross basis.

The change may be presented as a net increase/decrease or separate increases and decreases.

CONCLUDING THOUGHTS GASB No. 99 may not apply to many governments, and GASB No. 100 will only be applicable when an accounting change or error correction occurs. However, governments and their auditors need to be aware of the new requirements and when they are applicable.

GASB No. 101, on the other hand, is likely to affect a large number of governments. If applicable, the effect of implementing GASB No. 101 is required to be reported as a change in accounting principle as delineated in GASB No. 100. While

GASB Statement No. 101 is effective for 2024-2025 fiscal years, governments would be best served to begin the implementation process earlier rather than later.

Lynda M. Dennis, CPA, is the Chair of the FICPA’s Editorial Committee and its State & Local Government Committee.

She is a frequent speaker at FICPA events and was a 2022 Discussion Leader of the Year Award winner.

(1) Paragraphs 7 – 10 and 13 of GASB Statement No. 70, Accounting and Financial Reporting for Nonexchange Financial Guarantees (GASB No.70). (2) Paragraphs 14-15 of GASB No. 70. (3) These are understandability, reliability, relevance, timeliness, consistency, and comparability (GASB Concepts Statement No. 1, Objectives of Financial Reporting). (4) Such facts are those that could reasonably be expected to be known or taken into account at that time about conditions existing as of the date of the financial statements. (5) For brevity, “equity” is used throughout in lieu of the applicable terms of net position, fund balance, or fund net position.

(6) Sabbatical leave where an employee is not required to perform any significant duties for the government employer is a compensated absence as defined in the statement. (7) Three criteria must be met in order to recognize a liability for unused leave. The leave must be attributable to services already rendered, the leave accumulates, and the leave is more likely than not (more than 50% likelihood) to be used for time off or otherwise paid/settled. (8) Directly associated amounts are a function of the salary to be paid (for example, Social Security and Medicare taxes).

Payments are incrementally associated if the employer will make a payment in addition to the salary payment.

Accounting for

CANNABIS KEITH JOHNSON

CPA, PhD, MST, MBA

Times have certainly changed.

With evolving cultures, attitudes, and technologies, the cannabis (marijuana) industry has exploded especially over the last 30 years.

As a result, Americans’ attitudes, and those of elected legislators have changed with them. In 1996, California voters passed Proposition 215, becoming the first state to allow the use of limited quantities of cannabis for medical purposes.

Other states soon followed. Then, in 2012, Colorado voters passed Amendment 64, allowing the state to become the first in the country to allow the use of recreational cannabis. As of late 2023, only six states outlaw use of cannabis in all situations, 24 states and the District of Columbia allow recreational use of cannabis, and 20 others allow cannabis for medical use under a doctor’s care.

Despite the increasing acceptance of cannabis, it is still illegal under federal law after the passage of the Marijuana Tax Act of 1937. Marijuana is still a substance subject to federal enforcement and penalties under the Controlled Substance Act of 1970, although enforcement in recent years appears to be more focused on major drug suppliers, both foreign and domestic.

This inconsistency in legalization presents a challenge for business owners who would like to take advantage of newly passed state laws, allowing either medical or

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FLORIDA CPA TODAY | WINTER 2024

recreational cannabis use, to grow and sell the product but find that income from cannabis sales, though legal at the state level, may be confiscated due to federal control of banking and income tax enforcement. This means that very careful attention must be paid to the accounting for the cultivation and sale of cannabis. Meticulous records must be kept of all labor, seeds, plants, and resources used to grow and distribute the substance. Incorrect application of costs can lead to potentially devastating tax consequences.

To understand cannabis accounting, a practitioner should be familiar with Internal Revenue Code Section 280E. As cannabis is considered a Schedule 1 Controlled Substance under federal statute, Congress in 1982 passed I.R.C. Sec. 280E to prevent drug dealers from deducting General and Administrative (G & A) and selling expenses that would reduce their illegal but still taxable income. 280E came in response to the Tax Court’s 1981 decision in Edmonson v. Commssioner, which allowed taxpayers engaged in illegal activities to deduct certain expenses and to report taxable income. The primary focus of 280E is that only Cost of Goods Sold (COGS) expenses related to

the growth and sale of cannabis may be deducted by the business to determine taxable income. Note that the statute does not explicitly state that conclusion.

As a result of 280E, only costs associated with actually producing and handling the cannabis are deductible. One should tell clients: If the cost is not the result of actually coming in contact with the cannabis, it is not deductible.

Examples of expenses allowable under 280E include (for growers): Planting Cleaning Trimming Curing Packaging Storage Seedlings

Utilities used directly for growing the cannabis (water, electricity for greenhouses) Labor directly connected with the above activities.

Repair and maintenance for equipment that is involved in the cultivation of cannabis.

Examples of expenses allowable under 280E for dispensaries are more limited but include: Inventories Shipping for receiving and selling cannabis inventory Utility costs related to storage Labor costs only for those directly selling cannabis. One cannot deduct expenses associated with the sales of any related products such as bongs, paper, etc.

Examples of costs not allowable under 280E (for either grower or retailer) include: Telephone Insurance Legal and Professional Licensing Office supplies and expense Wages for employees whose work is unrelated to the cannabis.

Advertising Rental for base store (however, rental space for cannabis storage is deductible) In order to pass I.R.C. Sec. 280E muster, great care must be taken to completely segregate cannabis and non-cannabis activities in these three areas.

LABOR

It is best if cannabis clients develop policies so that cannabis and non-cannabis employees are accounted for separately. Thus, a client working on the growing or direct selling cannabis has no responsibilities or duties for

non-cannabis related sales or administration and vice versa.

Meticulous records need to be kept and federal and state employment tax returns should only reflect cannabis-related employees. If this cannot be helped, there should be a timeclock or other system to track the time each employee is working on cannabis and non-cannabis job functions. Block off time as neatly as possible to avoid guessing. Again, accurate time records are most important.

sale and maintains a cannabis dispensary), may want to set up a separate company that charges the cannabis business a management fee to cover the costs of the G & A activities and costs. The form of the secondary business depends on several factors such as state law, type of ownership, licensing, etc.

Have a thorough discussion with your client to gather information and recommend the correct business structure. One size does not fit all in this context.

CHART OF ACCOUNTS

With each passing day, it is obvious that legal cannabis is here to stay. That said, it is still very early in the game. It is important to understand the various state laws of your cannabis client’s business and ensure that the client has a clear understanding of the detail and care required to run a compliant business.

The Chart of Accounts (COA) should be very detailed as well. It is recommended that each account have a sub-account to capture cannabis and non-cannabis related costs, as one will be deductible and the other will not. For the COGS set of accounts, cannabis and non-cannabis related breakouts are also recommended.

STORAGE

For proper accounting, all cannabis should be grown and stored in totally segregated areas with no non-cannabis inventory or supplies combined with the cannabis items.

This will make allocating storage and utility costs much easier. The client may want to measure the square footage of the cannabis area, and use a pro-rata share of the total business area when computing occupancy and utility costs. Also, equipment used for the growing and storage of cannabis should not be used for non-cannabis purposes, as repair and maintenance costs for the equipment used for non-cannabis activities cannot be deducted.

Of course, all of these restrictions assume the truth of a proposition not proved; namely, how does one account for the non-cannabis expenses? Many cannabis business owners elect to open up a second business to capture the non-cannabis activities, including non-cannabis payroll. For instance, a cannabis client who is vertically integrated (that both grows their own cannabis for

As for Florida CPAs specifically, the Florida Board of Accountancy in 2015 issued a declaratory statement concluding the provision of public accounting services (as defined in Florida Statutes Section 473.302(8)) “to marijuana-related businesses in states where marijuana-related businesses have been legalized, in the absence of a criminal conviction of the certified public accountant for the provision of those services, in and of itself does not constitute a lack of good moral character.” “Good moral character” is a requirement for licensure of CPAs in Florida. Since marijuana remains illegal at the federal level and in some states, as discussed above, it would be prudent for a Florida CPA to seek legal advice before agreeing to work for a marijuana dispensary, grower, or other company.

Keith Johnson, CPA, is Principal of Keith E. Johnson CPA PA in Jacksonville. He is a member of both the FICPA’s Editorial Committee and its Federal Tax Committee.

WINTER 2024 | FLORIDA CPA TODAY

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THE NEVER-ENDING VALUATION DEBATE Cost of capital and small-cap premiums JOEL M. DICICCO CPA, PhD, MST, MBA RICHARD S. GENDLER MT.X., J.D., LL.M, J.S.D. Small-cap refers to stocks with a market capitalization between $300 million and $2 billion. Research indicates small-cap stocks tend to outperform those with a larger market cap.

The question is do smallcap premiums (SCP) exist and, if so, should they be used to determine the cost of capital under the Capital Asset Pricing Model (CAPM)?

This article discusses the

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support for and against using an SCP when calculating the cost of equity mainly using the CAPM. In addition, this article will explore whether or not the equity risk premium of a small entity should be considered in the calculation of the cost of equity.

COST OF CAPITAL BASICS The term cost of capital is the rate which an entity pays to obtain funding for projects or expansion.

Usually, an entity’s cost of capital is calculated by factoring in the weight and cost of both an entity’s debt

FLORIDA CPA TODAY | WINTER 2024

and equity. In furtherance of this concept, a Weighted Average Cost of Capital (WACC) is often used. The WACC is calculated differently for publicly traded entities, who typically use market-value techniques, and privately held entities, who commonly use the build-up method.

Small-cap premium refers to the increased return small capitalized entities (low-market value) are expected to earn compared to large capitalized entities (high-market value).

The higher the small-cap premium, the higher the

demanded equity return and the lower the value of the entity.

A financial model, the CAPM reflects the relationship between the expected return and the risk of investing in a security or other asset. It calculates the expected rate of return for an asset or investment based on an entity’s beta, the risk-free rate, and the market-risk premium.

THE DEBATE: SMALL-CAP PREMIUMS The basis for the SCP argument is that listed equity markets for

“If the size of firms is measured correctly, no evidence exists that shows small firms earn higher returns than large firms.” small-sized entities by market capitalization are often observed to generate higher returns than large capitalized entities. As the argument goes, small stocks (those with lower market capitalizations), on average, outperform large stocks (those with higher market caps) over time. The size effect was first documented by several academic papers in the early 1980s, and it quickly became the first real challenge to the field’s preeminent asset pricing framework, the CAPM. Dr. Rolf Banz1 (1981) found small stocks outperformed large stocks over his sample period (January 1936 to December 1975).

According to Banz, the bottom 20% of New York Stock Exchange (NYSE) firms, by market capitalization, produced a 6% return above the largest NYSE firms. Per the Financial Times Stock Exchange (FTSE) Russell Group, “The notion of both a small-cap premium and a value premium in equity returns was solidly established with the publication of papers by Nobel Prize winner Eugene F. Fama and co-author Kenneth R. French.2 In their study, from 1927 through 1981, U.S. small-cap stocks outperformed large caps

by 3.1% annualized, according to the FamaFrench ‘small-minus-big’ factor. The Fama-French three-factor model of market value serves as the bedrock for academic and practitioner research.”

There is opposition to the small company equity risk premium. For instance, Larry Swedroe,3 states in a recent article that “while the size premium basically disappeared in the United States after the publication of Banz’s work” there is some support only if the size premium is “combined with other factors (such as momentum, value and high quality).”

One of the major detractors and skeptics to the idea of a small equity risk premium is New York University’s Dr. Aswath Damodaran. 4 He argues the early studies drew much attention, which resulted in money being invested in small-cap stocks, which led to a repricing in that market.

Additionally, he suggests that over the long-term – which supposedly provided the strongest support for the existence of a SCP – the SCP vanishes for companies having “less than $5 million in market cap.” What the study Continued on page 24

WINTER 2024 | FLORIDA CPA TODAY

23

Continued from page 23 demonstrates is a microcap premium, isolated in the smallest of stocks, not just small-cap stocks.

Dr. Damodaran also references other academic studies, including those relating to the January Effect and the effect of liquidity on the SCP. In the aptly named January Effect, almost all of the average annual SCP (approximately 50%) is earned in the month of January. Removing the January Effect causes the SCP to disappear, which might result from large informational differences

in January compared to other months.

Dr. Damodaran notes that a host of papers argue the bulk, or all, of the SCP can be attributed to liquidity. He proposes that using a proxy for illiquidity lessens the size effect or causes it to disappear.

Lastly, Dr. Jonathan Berk in his article “Does Size Really Matter” states, “No theoretical explanation of why small firms earn higher returns exists, because none is needed.

If the size of firms is measured correctly, no evidence exists that shows small firms earn higher returns than large

firms.”5 He concludes the size enigma results from the part of market value that measures the entity’s discount rate and not from a relationship between the size of the entity and its returns.

ACCEPTANCE AT THE JUDICIAL LEVEL The U.S. Tax Court has not always accepted the small equity risk premium adjustment to the cost of capital models. In Estate of Jung v. Commissioner,6 the Court addresses whether an incremental risk premium is applicable due to a company’s size.

Ultimately, the Court rejected a lack of con-

trol discount where the incremental risk premium used to calculate the discount was derived solely as a result of an entity’s size.7 This was due to the very capital-intensive and low-profit nature of the industry which was the subject of valuation in Jung.8 Accordingly, the Tax Court notes riskiness can be due to an entity’s industry, not to its size. In Estate of Klauss v. Commissioner,9 the Tax Court found a size premium was appropriate in valuing a small home and garden equipment retailer.

The Tax Court concludes each case must stand on

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its own merits and not be based solely on an overall assessment of the entity’s size. Therefore, in some cases, it may be appropriate to employ a small stock premium in the discount rate used to capitalize historic earnings.10 The SCP increases the discount rate used to capitalize earnings of small-entity stock when there is evidence an investment in the entity carries greater risk due to its small size.11 The bottom line is that the use of a size premium without consideration of the entity specific risks may subject the valuation to challenge and rejection.

In conclusion, determining the cost of capital by using a small equity risk premium is one argument that might never be resolved. Nonetheless, one should be aware of the arguments supporting and opposing the inclusion of the SCP in the cost of capital. In this day and age of information overload, one can find support for either position. At the end of the day, however, the Tax Court opinion in Jung that each case must stand on its own should be considered when assessing whether to make an assessment using the SCP. Joel M. DiCicco, CPA, PhD, MST, MBA is fulltime faculty at Florida Atlantic University School of Accounting. He has published in both academic and professional journals in the areas of accounting, taxation, and valuation.

Richard S. Gendler, MT.X., J.D., LL.M, J.S.D. serves as full-time faculty at the Florida Atlantic University College of Business. He has been published in professional and academic journals on topical issues concerning accounting, taxation and insolvency.

(1) Banz, R. W. (1981). The Relationship between Return and Market Value of Common Stocks. Journal of Financial Economics, 9, 3-18. (2) Fama-French Model: https://mba.tuck. dartmouth.edu/pages/ faculty/ken.french/data_ library.html (3) Swedroe, Larry (2020). “Has the Size Premium Disappeared?”

Advisor Perspectives.

November 30, 2020. (4) Damodaran, Aswath (2015).

“The Small Cap Premium: Where is the beef?” https://seekingalpha. com/article/3064106the-small-cap-premiumwhere-is-the-beef (5) Berk, Jonathan B. (1997).

“Does Size Really Matter?”

Financial Analysts Journal, 53:5, 12-18. (6) Estate of Jung v. Commissioner, 101 T.C. 412, 415 (1993) (7) Id. (8) Id. at 415 (9) Estate of Klauss v. Commissioner, No. 5578-97, 2000 Tax Ct. Memo LEXIS 228 (T.C. June 27, 2000) (10) 1 Valuation Handbook § 8.03 (11) Id

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3/23/23 2:00 PM

#CPAsCount Florida CPA/PAC applauds Top 250 firms Did you know?

Each Legislative Session, our Advocacy Team’s success depends on the CPA profession’s relationship with lawmakers – and our legislative victories are due, in no small part, to the efforts of the Florida CPA/PAC. During the 2023 Session, our team:  Blocked additional CPE requirements and mandatory firm audit rotations for insurance audits.  Ensured a carve out for CPAs in Universal Licensure legislation.  Laid the groundwork for automatic filing extensions in times of emergency or disaster.  Secured statebudget funding of $100,000 for Unlicensed Activity Enforcement and $200,000 for the Clay Ford Scholarship Program, which supports minority students seeking to become CPAs.

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FLORIDA CPA TODAY | WINTER 2024

On behalf of the Directors of the Florida CPA Political Action Committee (CPA/ PAC), we congratulate and thank the firms that have chosen to be part of our 2023 Top 250 Campaign by investing in the Florida CPA/ PAC. Currently, there are three CPAs in the Florida Legislature – Sen. Joe Gruters, Rep. Mike Caruso and Rep. Cyndi Stevenson.

We had great success during the 2022 elections, but we need your help to continue supporting our CPA lawmakers – and candidates who can positively impact the profession – during the 2024 election year.

We recognize and applaud the firms participating in this annual campaign for their steadfast commitment to our advocacy efforts. Firm support, combined with

individual contributions, strengthens our position in the political landscape.

Each year, generous contributions from all FICPA members make the work of the Florida CPA/ PAC possible. And although the 2022 election cycle is behind us, candidates are now raising funds for the 2024 election year.

We need your help to continue electing pro-CPA, pro-business candidates to the Florida Cabinet and Legislature – and educating elected officials about why our profession matters.

Many thanks to all the individuals and firms that support the Florida CPA/ PAC’s efforts.

JOIN THE PAC ficpa.org/paccontribute

Gold Club ($2,000 or more contribution) BATTS MORRISON WALES & LEE, PA Michael E. Batts Orlando

CHASTANG & PARTNERS, LLC Lawrence J. Chastang Orlando

THOMAS HOWELL FERGUSON, PA Jeffrey E. Barbacci Tallahassee

Silver Club ($1,000 or more contribution) BASHOR & LEGENDRE, LLP Percy J. Legendre III Tampa

LIBERTY PARTNERS OF TALLAHASSEE Jennifer G. Green Tallahassee

RAULERSON CASTILLO & COMPANY

SALTMARSH, CLEAVELAND & GUND

Daniel D. Raulerson

Lee Bell

Plant City

Tampa

SINES BLAKESLEE MADYDA, CPAS, PA

SPOOR BUNCH FRANZ

Derek Blakeslee Winter Garden

W.G. Spoor St. Petersburg

TUSCAN & COMPANY, PA Jeffrey M. Tuscan Fort Myers

Bronze Club ($500 or more contribution) GELLER RAGANS

THE HURST COMPANY, CPAS, PA

Kristin A. Bivona

W. Henry “Hank” Hurst Jr.

Orlando

Amelia Island

WINTER 2024 | FLORIDA CPA TODAY

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2023 Florida CPA/PAC Individual Contributors The Florida CPA/PAC recognizes and thanks these FICPA members for their individual contributions.

Their support helps make it possible for the PAC to engage in elections for pro-CPA candidates running for the Florida Legislature each election year.

Again, we thank these members for their investment in the PAC’s success.

TRENDSETTER/ PACESETTER Ignacio J. Abella Allen D. Akins Ashley Andren Stephen M. Andrews Thomas A. Andrews Temidayo O. Apena Antonio L. Argiz Craig M. Armstrong Yvette N. Aubin Jeffrey E. Barbacci David G. Barbeito Michael E. Batts Donald R. Beaudet William F. Becker Jr. Glenn A. Bedonie John I. Bishop Jr. Kristin A. Bivona Shawne W. Blair Derek Blakeslee Donna M. Bloomer Athalia A. Bowrey Kristen Brand John L. Brantley Michael S. Brault George D. Brewer Jeffrey S. Brown Robert S. Buddy III Justin D. Callow Ronit Canet Vincent Carrodeguas Dr Valrie Chambers Chad T. Chauncey Reynolds J. Cochrane Lena G. Combs Rachel M. Connor John F. Costello David A. Cumberland Kenneth M. Daniels Katherine A. DeFilippo Jose E. Del Rio Lawrence A. Dickson Richard A. Donner David A. Dorsey 30

Stephen G. Douglas Julian D. Dozier Kenneth O. Dudley Teresa S. Dunbar Hewitt J. Dupont Abigail F. Dupree Kimberly V. Dyson Margaret G. Edmiston Joseph A. Epstein Scott D. Evaul Michael M. Everett Robert L. Faust Mark A. Fenaughty Delia F. Finnerty Lawrence R. Flaws Dennis K. Gallant Paul A. Garcia Arlen S. Gay Marianne E. Grabowski Anthony L. Gregory Daniel B. Grossman C Michael Halfast James A. Halleran Steven M. Hand Lindsey C. Hardee Allison J. Harrell Harry C. Harrell Ronald A. Harris Daniel Henn Luis F. Hernandez Anne Marie Hicks David J. Hochsprung Nathan Holcombe Paulette M. Holder David S. Holland Michele M. Hoover Kathryn K. Horton Christopher M. Howell Kyle Hunter William H. Hurst Jr. Jonathan S. Ingber Richard S. Ingram Jr. Spencer A. Ingram Tarsha R. Jacobs Barbara J. Jagusztyn

Jorge H. Jordan Stephen M. Kalifeh II Timothy D. Kane Lawrence J. Kendzior Michael J. Kierzynski Amy R. Kistka Richard M. Kleshinski Alicia L. Koross Charles Krblich Steven B. Kreinik Jason K. Lafser Karen A. Lake Geraldine Lazarre Deborah L. Leonard Bennie J. Lewis Amada Lopez-Cantera Catherine H. Lorie Ruth A. Loubier Concetta R. Lupardo Jodi Malis Anthony E. Marcus Gary J. Margolis Joel F. Martineau Andrew J. Mason Scott H. Mattson Katherine M. Maynard Michael T. McCarthy Matthew C. McNamara Graeme J. Mellet Chadwick T. Miller John P. Miller Heather E. Moe Roderick C. Moe Joseph C. Moffa Geoffrey K. Mosher Jr. Brandon M. Mott Shane R. Northrop Chris Oatis Key G. O’Keefe Evelyn F. Parkes Linda G. Parks Michael R. Pender Jr. Aguerre Perez-Abreu Russell L. Perkins Douglas Perreault

FLORIDA CPA TODAY | WINTER 2024

Canita G. Peterson Scott G. Price Mary G. Pulcini Massimo Pulcini David A. Ralicki Thomas F. Reilly Alfredo J. Reynoso Jaret P. Rice Juan F. Rivera Jr. Heber F. Rojas Jose L. Roman Garland Andrew J. Rose Noah D. Rubin Melvin L. Sams IV Julian Sardinas John M. Sarris Rick L. Shapiro Alisa L. Sherman Patricia M. Siles Douglas M. Sonier Carolyn H. Specht James W. Spires Jr. W G. Spoor II Stam W. Stathis Christopher P. Stemley Joel E. Stettler Ben A. Stevens III Christina W. Stewart John H. Stroemer John Sundeman Cheri Swain Kelby H. Tardi Frank D. Teets Jr. James F. Thielen David J. Thomas III Thomas A. Thomas Mario E. Toca Christopher M. Todd Adam A. Urban Laura J. Violante James H. Wade Jr. Brian S. Walgamott Rachel Webster Randall Wilson Terrell W. Witcher

Steven R. Wright Kevin D. Wrobel Shawn M. Yount James M. Zielbauer Craig H. Zokvic Dana A. Zukierski

Michael G. Dupree Jay N. Edinger Mitri K. El Homsi Jr. Timothy J. Fadgen Christopher G. Farmer David J. Fasano Liliam Fernandez COMMITTEE George G. Fox OF 100 John K. Freeman Roberto Alvarez Michael D. Futterman Richard A. Amado Elizabeth Garrido Nicole B. Andrews James B. Gay Jana K. Aristizabal David J. Goodman Mark R. Arrigo Teresa N. Gorman John A. Baker Jr. Robert V. Grieb Kimberly H. Beaumont Julio L. Guardado Alyssa L. Belcher Nestor L. Guillen Keith M. Bennett Brian A. Hall Joseph K. Bing Pamela B. Hathaway Elizabeth S. Bloeser Thomas R. Hewitt Steven K. Borden Christine Horrocks Imre Borsanyi William L. Houff Bonny Bowyer Roberto Huguet William W. Bridges Stewart W. Hurst Cathy M. Bridges-Shoemaker Michelle L. Jackson Kathleen E. Brothers Casper J. Jacoby IV Paul N. Brown Thomas E. Jennings Ciro Buttacavoli Cheri L. Jones Deric V. Cablish William Jones Dalia Cantor William M. Kaser Stewart H. Carlin Martin Kaye Carlos M. Castellon John K. Kirk Steven Castino Paul B. Kroncke Billy L. Chavers Jr. Sam A. Lazzara Cesar A. Cifuentes Monica R. Leonard Randall T. Coleman Albert D. Lopez Paul R. Cotherman II John J. McKnight Jr. Dominic A. Cromartie Sr. Thomas C. McNulty Deborah A. Crum Irene McNutt A Keith Dean Thomas A. Menchinger Scott E. Dindal Rosaline N. Mendoza Anthony M. Donini Julia E. Mercier Kris I. Dougherty Kymberly Messersmith Deanna C. Duell John H. Mitchell Anthony G. Duffy Brian T. Muller

Mark R. Mutchnick Lisa M. Newland Lisa M. Oberdick Lisa Laura S. Olszewski Connor P. O’Toole John A. Owens Joshua G. Owens Joseph A. Paul Jeffrey J. Phillips Paul A. Posey Peter T. Pruitt Jr. Laura F. Rainey David R. Ramos Edwin Rivera Luis O. Roca Cynthia M. Rogers Garth E. Rosenkrance Noah D. Rubin Mary Lou Ruderman Felipe R. Ruiz William S. Schwarz Gina M. Sciacchitano Terry L. Seaton Raul O. Serrano Jr. Raskin Shah John T. Shannon Charles M. Sincell III Poornima Srinivasan Carolyn C. Sweeney Kristine W. Taylor Daniela C. Thomason Ricardo R. Villamil T Jay Vitarelli Tyson P. Walters Nancy L. Watson Alex Welsh Leslie A. Welsh Mary Ann Wilson Sheryll A. Wilson Mark J. Zand SUSTAINING Catherine A. Abati Richard Aguilar Mike U. Akwue Ethan J. Alexander Alisha A. Balbaugh Regina W. Baniakas Sidney Barclais Karen W. Barr Kathryn F. Barton Ray D. Bastin Thomas L. Baty Matthew L. Bell Carlos M. Benitez Bruce M. Berger David Bergstein Wilmer J. Bermudez

John I. Bishop III Thomas M. Bizzell Joseph A. Blitzko Karla J. Bodden Ian P. Borbolla Veronica G. Brown Joshua Brucker Faith Buchanan Jennifer L. Bucior Mark J. Burger Mirtha T. Carballo Anthony T. Cobb Christine A. Coleman Donna E. Collins James P. Colonna Melanie B. Congress Michael E. Creekmur Raymond K. Cross David C. Crowder Cynthia S. D’Artagnan Raul A. de la Campa Carlos M. de La Osa Kelly R. Dee Richard M. Derk Judith A. Distle Cedric A. Donaldson Richard M. Dotson Sirkka S. Firley Milton G. Fisher Raquel B. Fontana Adrian L. Fresnedo Ryan D. Fulmer Stephanie C. Gainey Andrew Gay Jordan A. Ghaemmaghami Jacqueline A. Gibbons-McIntosh Carl M. Gunter McHenry Hamilton III Angela D. Harden Teresa L. Harrington Heidi L. Haye Anthony E. Hearn Linda C. Herman Lesia C. Hise Carlos M. Hondal Jr. Sandra H. Hoshor Darnease A. Houston Orlando Hoyos Sherrill W. Hudson Birgit Hugel Randall J. Humphrey Terri S. Kane Edward M. Kaplan Osama S. Kayali John W. Keillor Kim A. Kildahl Coman Leonard III

Jennifer L. Lipscomb Monica S. Wellmaker Joe Lopez Michael E. Wheeler Jorge J. Lopez Constance C. Wiberg Joseph A. Manning Velynda F. Wickerson Elizabeth C. Margolis Robert R. Wott Kenneth T. Marsh Virginia L. Yeagle Dave B. Marshall Roberta N. Young Edoardo Martinelli-Gugliotta Shanay A. Martinez Alce ACTIVE Deborah P. Mason Batul Abdulali Robert J. Maya Nikki P. Acenas Michelle D. McCann David J. Acree Mark E. McDonough Bayardo N. Aguilar Jr. Elliot B. Medoff Luis Alfonso Jeetesh D. Mistry Jose L. Alookaran Pamela J. Mullins Daniel R. Anderson Yolanda R. Nader Anne P. Arick Patricia L. Neely Daniel P. Armstrong Scott T. Nelson Jr. Vinod K. Arora Patricia A. Neuendorf Edmund D. Bakalla Gary L. Olberding Janet S. Baldwin John S. Olivari Jacqueline Baptiste Shelle K. Otto Julio Barina Michelle Perez-Macias Willie Barnett Barbara Pierce Caroline Y. Beasley Vladimy Pierre-Louis George H. Billings Jr. Laura Plotner Hugh C. Bishop Jr. Brenna L. Ramos Ann G. Blakeslee Doug Richardson Elizabeth H. Blaschka Henry Rinder William A. Boyles Barbara T. Rodriguez Dwight A. Brown William C. Ross Audrey S. Bullard Cheryl A. Salgado Gary Bulmash Carlos M. Samlut Joseph J. Buongiorno Sr. Gulnara Santmyer Lawrence S. Burke Sally A. Scala William R. Burke Lisa H. Seiffer Noah D. Buxton Donna J. Senn Maria F. Byrd John A. Shelley II Henry M. Cairo Rose P. Shelley Sandra Camhi Patricia A. Siberski Allison P. Carter Barbara A. Sloan Carlos A. Cerezo Jr. Lisa L. Smithson Tamara L. Cindrich Alan M. Spertell Chandra K. Clines Carrie Summerlin Angela G. Cooley Johnny P. Svajko Charlotte Corlett Vickie L. Sweigart Edward K. Cranford Nancy B. Swift Leonard M. Cusano Nadine F. Thomas J K. Davis Robert F. Thomson II Sergio E. de Varona Ana M. Toca Mark B. DeBord Andrew P. Tyack Stacia M. Deitrich Kenneth L. Urish David Divine Carmen E. Velasquez Robert J. Dreker Jacob S. Vermaas Carol E. Eklund Robin C. Weeks Joseph Espeso Jennifer F. Wehrs Ashley M. Fagan David L. Weiss Genaro L. Fernandez

Norma Fernandez-Lucena Eric W. Filkins Jonathan T. Frank Ronald S. Friedman Stephen R. Friedman Richard A. Garcia Joseph A. Genovese Claudia K. George Marc A. Gidney Betsy A. Glickman Ethan Goodman Paul Goodyer Audley L. Gordon James A. Gray Ian A. Green Herbert J. Greenlee Jr. Kelsey A. Griffin Eduardo A. Guernica Patricia K. Hagan Kenneth M. Haller Harriet R. Haynes Christian Hernandez Kevin J. Herzberg Christine E. Hill Angela L. Hollearn Chanda D. Horne Alan N. Ingwe Leslie A. Inman Cyprianna L. Jackso Debra C. Jackson Jason B. Jackson Joseph F. Janusz Alla Johnson Elsa G. Johnson Laurie A. Johnson George A. Jones Shaun T. Kelly Kolman Kenigsberg Juliana M. Kierstein Jacob D. Kinsel Donald J. Kitaif Sheryl S. Kitaif Susan C. Knapp Brad M. Kreinces Daniel S. Kushner Valarie J. Law Kathryn M. Leavins Charles A. Lota Jamaal A. Maddox Anthony C. Martinelli Sharon R. Martinelli James L. Massey Joan M. Mazurek Brandon McCafferty Sharon M. McGhee Joel R. Medina Marianne Micco Barry J. Misthal

Yuliya C. Moody Patricia L. Morera Sherri D. Morrow Karen L. Mosteller Timothy H. Myers Stephen R. Nelson Keith E. Newman Nam H. Nguyen Raymond A. Noga Solon F. O’Neal Jr. Stephen B. Parent Andrew S. Parker Matthew Parker Stanford A. Paul Michaele L. Pendarvis Alexander L. Perez Alice A. Posada Elizabeth G. Radk Clarence L. Raker Melodie A. Rich Victoria A. Rodriguez Mark I. Rutkowski Wade P. Sansbury Mark D. Schafer John W. Schilthuis Eric W. Schmitz Janet A. Schnering Katie Schoch Raymond F. Schulthei Stephen M. Schwartz Steven Silverman Richard D. Smith Thomas C. Stambaugh Peter J. Steffens Keith M. Suckno Kenneth L. Thomas Kelly C. Trainor Yohana M. Tuguta Nancy M. Valdes Nathalie J. Valentin Eldon J. Vincent Jonathan M. Wallace Ralph A. Weinberger Alison N. Wester Teresa D. Williams Karen L. Wiltsie Allen C. Wohlwend Beth C. Wohlwend Lisa A. Yanes

WINTER 2024 | FLORIDA CPA TODAY

31

FICPA honors graduates of its 2023-24 Leadership Academy The FICPA is proud to recognize the graduates of our 2023-24 Leadership Academy.

These 25 young CPAs comprise the academy’s third-annual class.

“The FICPA Leadership Academy identifies rising stars in our state and equips them with the leadership skills to take the next step in their promising careers,” FICPA President & CEO Shelly Weir said. “We celebrate this year’s graduates and look forward to watching them shape the future of the CPA profession.”

The FICPA Leadership Academy is a selective, high-impact 32

FLORIDA CPA TODAY | WINTER 2024

program for CPAs age 35 and under who are looking to grow as leaders. Participants took part in Leadership Academy sessions hosted in Orlando and Tallahassee. They graduated on Jan. 17 during the FICPA’s CPA Day at the Capitol, where they had the opportunity to learn from Florida lawmakers and represent the next generation of CPAs and business leaders.

For the third consecutive year, the FICPA has partnered with the Succession Institute to develop the Leadership Academy’s curriculum. A pair of Succession faculty members – former AICPA Chair Bill Reeb and Former AICPA and

FICPA Chair Tommye Barie – challenged participants to evolve, create a roadmap for change and expand their skills.

“Each year, Bill and I cherish the opportunity to work with some of the best and brightest young CPAs from across the Country and Florida continues to deliver at a high level,” Barie said. “We learn as much from these young leaders as they learn from us, and I have confidence knowing that the future of our profession is in their hands.”

JEFF APPOLON

LUISA BLANDON

MARISA BURKHALTER

IVAN CALATA

EMILY DEMURIAS

BDO

Kaufman, Rossin & Co

CBIZ

Withum

Briers CPA

CHASE DESTEFANIS

AMANDA ELLIOTT

ALEXANDRA ESCOBAR

YOSSEIDY ESTEVEZ

RACHEL FAXAS

Grant Thronton

Carr, Riggs, Ingram

Kaufman, Rossin & Co

Kaufman, Rossin & Co

Kaufman, Rossin & Co

ZACHARY GREENWALD

STEWART LUNDEEN

CLAUDIA MACHADO

LUIS MARQUEZ

CHASE ORTHWEIN

Boulay PLLP

BDO

Kaufman, Rossin & Co

Marcum

Kaufman, Rossin & Co

EMILY RAY

MONICA REYES

ALYSSA RILEY

LUIS SANOJA

SARAH SIMPSON

RSM

PAAST

Carr, Riggs, Ingram

RSM

City of Aventura

KATIE SMITH

SEBASTIAN SOVERO

SAMEER UDDIN

ASHLEY VALDEZ

CARMEN VELASQUEZ

Deloitte

Berkowitz Pollack Brant

Withum

Ernst & Young

Tapia, Rojas & Associates

WINTER 2024 | FLORIDA CPA TODAY

33

SCHOLARSHIP SCHOLARSHIP FOUNDATION FOUNDATION

REVIEW REVIEW OUROUR ANNUAL ANNUAL REPORT REPORT Access Access our 2022-23 our 2022-23 Annual Annual Report Report to read to read messages messages from from ChairChair Steven Steven Morrison Morrison and and Director Director Jennifer Jennifer AllenAllen and to and seetoour seefull ourlist fulloflist of scholarship scholarship recipients recipients and benefactors. and benefactors.

Apply ApplyforforananFICPA FICPAScholarship Scholarship The window The window to apply to apply for an forFICPA an FICPA Will Will you be youa part be a part of our ofClass our Class of of Scholarship Scholarship is now is now open!open!

2024?2024?

ScanScan the QR thecode QR code or visit or visit ficpascholarshipfoundation.org/ ficpascholarshipfoundation.org/ Current Current fourth-year, fourth-year, fifth-year fifth-year and and scholarships scholarships to check to check eligibility eligibility graduate graduate students students havehave untiluntil March March requirements requirements and apply. and apply.

31 to31 apply to apply for scholarships for scholarships ranging ranging fromfrom $2,500 $2,500 to $5,000. to $5,000.

2022-23 Annual Report 2022-23 Annual Report

Read itRead in fullit by in full visiting by visiting ficpa. ficpa. org/2022-23AnnualReport org/2022-23AnnualReport

Last Last year,year, we awarded we awarded moremore than than $188,000 $188,000 in funds in funds to 67toscholarship 67 scholarship winners winners at 26atdifferent 26 different Florida Florida colleges colleges and universities. and universities.

Annual AnnualRetreat RetreatatatOcean OceanReef Reef The FICPA The FICPA Scholarship Scholarship FoundaFounda- And And enjoyenjoy culinary culinary delights delights tion’stion’s Annual Annual Retreat Retreat makes makes its its during during our Saturday our Saturday NightNight Luau,Luau, a a return return to thetoexclusive the exclusive Ocean Ocean Reef Reef gourmet gourmet dining dining experience experience crafted crafted Resort Resort ClubClub in Key in Largo Key Largo this Aug. this Aug. by renowned by renowned chefs,chefs, offering offering a a 1-4. This 1-4. This year’syear’s retreat retreat promises promises selection selection of exquisite of exquisite dishes dishes and and to betoanbeunforgettable an unforgettable experience, experience, beverages beverages that will that tantalize will tantalize youryour blending blending philanthropy philanthropy with with relax-relax- taste taste buds.buds. ationation and inspiration, and inspiration, as weasraise we raise fundsfunds to support to support the next the next generagenera- ScanScan the QR thecode QR code or visit or visit ficpasficpastion of tion CPAs. of CPAs. cholarshipfoundation.org cholarshipfoundation.org to book to book youryour spot spot at this at exclusive this exclusive and and MakeMake connections connections and birdies and birdies limited-availability limited-availability eventevent before before during during our Friday our Friday Golf Golf TournaTournawe’rewe’re sold sold out! out! ment,ment, as you as take you take on the onthe theclub’s the club’s stunning stunning layout layout with with high-profile high-profile colleagues colleagues fromfrom across across the state. the state.

34

34 FLORIDA FLORIDA CPA TODAY CPA TODAY | WINTER | WINTER 20242024

Give Today.

Grow Tomorrow.

SUPPORT TOMORROW’S CPAS TODAY

SCAN TO DONATE

or visit ficpascholarshipfoundation.org

WELC ME TO THE The FICPA is proud to welcome these new members who joined from October-December 2023.

Welcome to our FICPA family and thank you for supporting the CPA profession!

ADHEFT MARKETING Robert Bishop ALL STAR RECRUITING Sarah P. Honeycutt ALLIANCE FINANCIAL GROUP James Spiers ALLURE ACCOUNTING, INC. Anne A. Moja ALONSO & DIAZ PLLC Tania A. Hernandez ALVAREZ & MARSAL TAX, LLC Diana M. Ravitz ANGLIN REICHMANN ARMSTRONG, P.C. Thomas M. Hodge ANNA L. FOCHT, CPA Anna L. Focht B10 CAPITAL John P. Bennett BAKER TILLY US, LLP Brentley A. Leitzell BDO USA, LLP Rebecca R. Boland Ernesto M. Diaz Jenifer Galasso Kaitlin Kemp Asher Lev Fazil Mohammad BERKOWITZ POLLACK BRANT ACCOUNTANTS, LLP Leonardo Hernandez Irizar A BETTER LEDGER COMPANY Karen L. Hardell BOATNER & PUGH, LLC Roger C. Boatner BOLERJACK, HALSEMA, BOWLING & WHITE, PA Julianna McGuinness BRANDT ACCOUNTING, INC Jean A. Brandt BRAXTON & HOLWAY, PA Jeffrey D. Gingerich BROWARD COLLEGE Johan Accitvno Santos Akintayo O. Akinlabi Rafif Albouz Piero J. Arevalo Julian Arias Gilana Bush Matej Cangovski Kaitlin E. Caycedo Eliza G. Ewald Andres G. Feliciano-Munoz

36

Guyftaina Florestal Sian Ganpath Taylor M. Gonzalez Ivory Johnson Stefanny Mejia Thanh V. Nguyen Ariel M. Pierre-Louis Alexander Polanco Angelina F. Reig Karla V. Rivera Laura M. Salazar Charles E. Solak Jr Valeria S. Sucre Jose Tejeda BUCCI LAW OFFICES, PA Christin Bucci CANO HEALTH Eladio Gil CARR, RIGGS & INGRAM, LLC Jose O. Esquerdo Robert Richardson III CARRFOUR SUPPORTIVE HOUSING Danna G. Ponce CBIZ MHM, LLC Marisa K. Burkhalter Leighton H. Castle CHASE BANK Annette Daley CHASTANG & PARTNERS, LLC Diana P. Acevedo Anaiz G. Brito Isari Cerjan Adriana P. Diaz Albert D. Holloway IV Vishall C. Satnaraine Jordan Whitlock CHERRY BEKAERT LLP Dewanna S. Coleman Adriana M. Ponce CHRISTOPHER R. REVAK, LLC Christopher R. Revak CITI PRIVATE BANK Jonathan L. Fitzgerald, JD CITIBANK Madison L. Barrett CITY OF ALTAMONTE SPRINGS FINANCE DEPARTMENT Tara J. Culver CITY OF ARCADIA Teresa Conerly CITY OF MIRAMAR Kevin E. Adderley

FLORIDA CPA TODAY | WINTER 2024

CLD ACCOUNTING TAX & ADVISORY LLC Cristofer L. Davila CLIFTONLARSONALLEN Paula Heid COHNREZNICK LLP Nathalie M. Coombs Eva D. Ducanis, CPA Kristen H. Streimer COLLEGE OF CENTRAL FLORIDA David W. Daniel COMERNOWLING Linda Newcomer COMMUNITY HOSPICE OF NORTHEAST FLORIDA, INC Colleen M. Ingraham

Sydney N. Riegel DIBARTOLOMEO, MCBEE, HARTLEY & BARNES, PA Aimee Newhouse DISNEY FINANCIAL SERVICES Nidhi Patel DIVINE, BLALOCK, MARTIN & SELLARI, LLC Kenneth J. Sokolsky DMG CPA, PA Dean Giaquinto DOANE & DOANE, PA Danielle Wall DP&D ACCOUNTING SERVICES Dayuri D. Perez, EA

CONCERT GOLF PARTNERS Simone S. Saletto

DREAM FINDERS HOMES Hannah E. Urbanek

CONNECTPAY PAYROLL SERVICES Edward Plaskon

DUVAL COUNTY PROPERTY APPRAISER’S OFFICE Sage Sullivan

CONTAINER CENTRALEN, INC. Austin J. Beattie COULTER, AVILES & JACKSON Brian S. Buskirk CPS GROUP CPAS PA Aeman Gromotowicz CROWE LLP Alena M. Hernandez Mikhaella P. Lloren Ni T. Truong CTO REALTY GROWTH, INC Teresa L. Huff DELOITTE LLP Tyson J. Brock Geoffrey P. Cantrell James C. Cascone Cameron Chang Sarah K. Chung Scott T. Exum Craig Gelman Louella M. Gorman Coretta A. James-Shepeard Diona Johnson Kyle J. Macau Ekaterina Nazarenko Brendan J. Nicholson Jonathan Perez Mota Hamilton T. Rush Veronica Smith-Christian Zachary J. Strope John D. Tubb DELOITTE TAX LLP Andrew J. Elekes Michael C. Hilder Jane M. Lazzara

EASTERN FLORIDA STATE COLLEGE Patricia A. Wellmaker ENNIS, PELLUM & ASSOCIATES Sarah M. Jimenez EPGD BUSINESS LAW Eric Gros-Dubois ESCAMBIA COUNTY-HOUSING FINANCE AUTHORITY Diane Martinez FBMC BENEFITS MANAGEMENT Monica Watford FEIGENBAUM & FEIGENBAUM, PA Alec J. Feigenbaum FIMC Chintan M. Trivedi FIRST MATE CONSULTING, INC. Catherine A. Sheets, CPA FLAGLER COLLEGE Victoria E. Annoni FLAGLER COLLEGE DEPARTMENT OF BUSINESS ADMINISTRATION Dana L. Hart FLORIDA ATLANTIC UNIVERSITYCOLLEGE OF BUSINESS Diamond A. Blair Lianne T. Brooks Tia Cargill Karen Castro Ana Raphaela T. Gomes Wadney Henri Jake R. Wohltman

FLORIDA AUDITOR GENERAL Nabila L. Singh FLORIDA DIVISION OF EMERGENCY MANAGEMENT Michael T. Gillenwater FLORIDA GULF COAST UNIVERSITY Michael J. Barker Natalie B. Castaldo Martin J. Fernandez Elena Hinkson Josh M. Kohler Mackenson Reveus Lilly A. Rooks Megan R. Zeller FLORIDA INTERNATIONAL UNIVERSITY Diana Aleman Pabel Alonso Nicolas A. Christakis Mark Coiras Sofia C. Cordova Fernanda D. Diniz Javier E. Elejalde Alexandra I. Fernandez Kyle Foeller Micaela Gatica Vanessa M. Guerra Natalie Guzman Philip M. Iacovelli Juliana Marina Meghan S. Marrero-Beyra Jesus O. Maysonet Charles D. Mena Daniel A. Mena Kaylin Nunez Natalia Ortegon Lopez Carmen D. Pages Daniel A. Rodriguez Fabio Rodriguez Anthony Rodriguez-Mira Kaili J. Rojas Aadhithya Shankar Angelo Soffia Angela S. Stea Kajal Tailor Mercedes M. Torres Pedro A. Urbina Castilla Valeria Zumaeta FLORIDA SOUTHERN COLLEGE BARNETT SCHOOL OF BUSINESS AND ECONOMICS Faith G. Cotter FLORIDA SOUTHERN COLLEGE BECKER BUSINESS BUILDING Francesca Benson Yrujari J. Coria Nyles Lockridge

FLORIDA STATE BOARD OF ADMINISTRATION Katherine M. Adkins FORESIGHT FINANCIAL CPA FIRM, PLLC Jason A. Brown

Pedro Juan-Simon Autumn Marsh Brent Meinhold Angel J. Quinonez Aidan C. Rogers Juan D. Velasquez

FRANCISCO PARTNERS Ronald S. Kozlin

INSURANCE INSTITUTE FOR BUSINESS & HOME SAFETY Katy C. Martin

FTI CONSULTING David W. Smalstig

INTUIT, INC. Agnes M. Rivera Umpierre

FULLER & TURKEL CPAS AND ASSOCIATES Brett A. Fuller

JEREMY R. VINIAR, CPA, PA Jeremy R. Viniar

FVL CONSULTANTS, PA Christine L. Bastian G.C. CONSULTANTS INC. Jesus Pablo Garciga GARY G. SMITH ACCOUNTANT Gary G. Smith GERALD F YEAGER JR, CPA Gerald F. Yeager Jr GRANT THORNTON LLP Jacqueline Almazan Patricia Arce Guzman Ronald Blanco Christopher M. Galioto Sovan In Anna Kobsteva Stephanie A. Larsen Brigid R. Limerick Mateo I. Pedro Mateo Matthew A. Sierra Jose C. Sineriz Ayeisha Solomon Nee Cameron Megan Wood H&CO, LLP Heriberto Nunez Aguilar HARBOR MANAGEMENT OF SOUTH FLORIDA, INC. Jennifer B. Tracy HBK CPAS & CONSULTANTS Jeffrey B. Isaacson Jelena Melnichenko HCA HEALTH CARE Mercy M. Abraham HILLSBOROUGH COUNTY CLERK’S OFFICE Lorrie A. Brinson HJ FENTON AND ASSOCIATES LLC Jacqueline P. Fenton HLB GRAVIER, LLP Brett J. Mikulec HOWARD AND COMPANY, PA Matthew Anderer HYLANT David Sanders ICON MANAGEMENT Erika L. Chapman INDIAN RIVER STATE COLLEGE Nicholas Andrew Joseph J. Cunniffe

JERROLD G. KATZ, CPA, PLLC Jerrold G. Katz JM FAMILY ENTERPRISES, INC Brenda E. Hollander JOHN KORESKO, CPA John J. Koresko V JONATHAN CRICK, ATTORNEY AT LAW, CPA/ABV/CFF, PLLC Jonathan D. Crick KAPLAN UNIVERSITY Tiffany N. Broaders KAUFMAN, ROSSIN & CO, PA Rachel Faxas Claudia Machado KEISER UNIVERSITY Nicholas M. Fox John Sosebee KITSON & PARTNERS Julio E. Morales KPMG LLP Natalie E. Adams Lauren E. Adler Adrian Aguilar Katherine M. Aiello John T. Alexander IV Brett C. Allan Eduardo M. Arboleda Lisa H. Armstrong Jessie Avendano Jordan Baacke Maxwell P. Bailey Catalina Ballesteros Marco A. Banuelos Chad A. Barba Julie K. Barba Carlos M. Basnuevo Anne N. Basta Amber E. Batchelder Tara D. Baucom Devin A. Beeler Holly T. Belanger Natalia C. Benedetti John I. Bennett Anthony R. Berganini Claire Bing Alexander Blacklander April A. Blackman Joel A. Blamey Sr. Emily R. Bonomo Aarron E. Borkowski Mathew M. Borrack Emily A. Brauchle Rachel K. Braukman

Alex Cadet, CPA Ashley B. Callahan Bartlett M. Cantor Jay A. Carreno Manuel A. Carreno Chelsea M. Carroll Rachel N. Carson Vincent P. Castellano Christiana E. Champnella Michael P. Chmelar Rick M. Cincotta Phillip Cioffi Courtney E. Clark Christine L. Clarke Allan J. Colaco Maikel A. Colina Ronnie J. Conner Evelyn M. Cordero Alexis Cruz Katrin Curtin Sebastian E. D’Agostino Mary Dayeh Constantine Demos John Derrick Christine Deveney Jeffrey R. Dezelan Joseph P. Dimartino Kimberly Doan Dariya Dolgolova Fabiola Dormeus Steven M. Doyle Paul J. Droubie Robert E. Dubberly Jorge E. Duenas Douglas C. Duer Iwona B. Dunajewska Savanna N. Dye Susan J. Eickhoff Trenton W. Eisenman Ellen S. Espeland Alexandra Everhart Jeffrey Farrell Victoria L. Felcoski Deirdre E. Fortune Samantha M. Fowler Jason A. Franzel Steven M. Friedman Michelle A. Fritz Kyle W. Futch Rebekah M. Gabbert Stephen S. Galbreath Michael J. Garavaglia Patricia L. Garcell Carlos A. Garrido Payton L. Gary Darcie K. Garza Timothy J. Gattoni Kyle B. Gaze Michael S. George Sara H. Gigele Sarah M. Gillman Scott G. Givens Cassady Glenn Jacob J. Gomes Margaret M. Gonzales Christopher J. Gonzalez Luz M. Gonzalez Bradley M. Gorman Alexander R. Gottlieb Andrew F. Gottschalk Raysa Grau Jennifer M. Gravitt Michael B. Grey

Lauren M. Gundal Kevin Guyadeen Sarah A. Hahnemann Thomas E. Hallberg Adam R. Hamilton Andrew M. Hardman Rachel M. Hardy Christina M. Hartman Gavin A. Hayden Monica S. Hayes Jeffrey L. Hecht Walter T. Henderson Jr Claire Henning Ryan T. Henry John T. Higgins Bridget N. Higley Wesley R. Hitchcock Katherine I. Hoehn Karen L. Hogan Ryan P. Hoormann Kayla J. Hoover Natalie E. Hurt Deborah A. Irwin Chelsey Jarrell Nicholas W. Jensen Mikael A. Johnson Tracie A. Johnson Christopher A. Johnston Rachel A. Jones Daniel O. Jose Emily E. Jump Yousun Kang Jason Kaplan Nathaniel A. Kauffman Michael Kaufman Ortiz Jacob I. Kaufman Theodor S. Kiel Jennifer S. Kimball David T. Kinderman Charles R. King Thomas N. Kirchner Michael T. Kokotajlo Jeffrey R. Krizner Nadin Kwasny Daniella R. Ladki Michael W. Lammons Craig C. Lewis Benjamin M. Leybovich Chenyang Ling Jacqueline F. Liu Jonathan Livesay Bradley A. Losiniecki Waqar H. Mahamad Kaitlynn T. Malleo Hunter C. Manning Paul A. Manos Georgina Marchionni Julia A. Marin Maya P. Mathineni Marcelo F. Mauri Sean R. Maziuk Matthew L. McCarthy Courtney S. McKenna Dayna N. McKently Tyler A. Medley Kuber Mehta Adam E. Mendelsohn Xintong Meng Alyssa M. Michlin Bar Milo Kendall C. Minning Adam Moscovich Martin L. Mueller Jr

Andrea Mullins Jessica A. Munday Kristen M. Murman Ashley A. Nassy Laura M. Newinski Joshua S. Nissen Karin Oba Jonathan Ocampo Michelle Ospina Wallace D. Palladino Arthur J. Paradise Jr Allie Parker Roma K. Patel Evan Peeler Tristin V. Pena Esperanza E. Perez Melissa A. Perez Meagan A. Peterson Dilyana G. Petkova Katrina A. Petrone An T. Pham Traci L. Phillips John T. Pierce Jr Nathalie F. Posthuma Stephen Pruzinsky Carol S. Prytula Rolando A. Quintero II Kristjana Qurku Kelly A. Raftice Steven K. Rainey Owen H. Register Daniel S. Reid II Matthew D. Reitz Matthew Reville Amanda M. Ribeiro Lisa J. Riss Sarah A. Rittenhouse Charles A. Ritter Jacklyn M. Robinson Angelica N. Rood Cynthia A. Rose Elizabeth Rowan Carlos A. Rubero Floriselda E. Rubio Contreras Liz N. Ruiz Ortiz Eva Ruiz Robert C. Rush Julie M. Schaeffer William J. Schinas Thomas M. Schwalb Killian M. Scourtis Kristen L. Seal William R. Sehnert Stephanie A. Senft-Greenberg Sheri B. Shelley Allen Shubin David E. Sines Robert Z. Slappey Andrew C. Slaton David A. Smalling James J. Soong Victoria T. Soto Lawrence J. Spinetta Rebekah M. Spuler Justin M. Stone Paul D. Stone Lindsey Stoner Krizia A. Storr Michael W. Streeter Heather N. Sydnor Alexandra M. Szybinski Michael E. Tascher

Continued on page 38

WINTER 2024 | FLORIDA CPA TODAY

37

Continued from page 37 Ryan S. Taylor Craig R. Tetreault James G. Thompson Jessica A. Thompson Ashley J. Townsend Joshua D. Traband Kathleen E. Trivison Jean-Pierre L. Trouillot Natalie A. Tucker Donald J. Turner Raymond D. Turner Cylie M. Ulcak Nicholas Valencia Jr Maria D. Valera Ferrer Michael A. Vance Andrea Vargas Jessica Velasquez Kirby V. Vilker Teresa K. Vonderhaar Lauren M. Wade Andrew Wetzel Dominique Wever Dean Wilk Glenda M. Williams Hollie C. Williamson Ashley E. Willson Jessica Wing Alexander J. Wucker Nicholas Wuensch Morris C. Wycoff Wu D. Xie Kaoru Yuki Daniel Zamora Margaret E. Zechiel Wanxia Zhao Xiao Long Zhao Jacqueline Ziemba Marie Zimmerman Douglas P. Zuvich KSDT CPA Pamela Hoyos LEE COUNTY CLERK OF COURTS Michele P. Crowell LEMUS AND COMPANY Obdulia S. Lemus LEONARDO & COMPANY Mily Leonardo LHH Marla L. Nasrah LIDO ADVISORS William F. Coughlan LOGAN, BOWYER & MCCULLOUGH, PA Christy L. Tomlinson LS AND COMPANY Seth D. Marks LUX ORBIS ACCOUNTING AND TAX, PLLC Raimundo A. Ytulvide LYONS & LYONS, CPAS Gavin L. Register M. SUZANNE SCOTT, CPA M Suzanne Scott MADURA & TEMPLETON, CPAS Diane T. Templeton

38

MALONEY + NOVOTNY LLC Devin D. Dempsey MARCUM LLP Craig J. Covitz Amanda M. Kreitzer Nicole Ortega Sabbag MARI HUFF, CPA, PA Jackson Abbott MARTIN & ASSOCIATES, PL Vincent J. Buquicchio MATTHEW ANDERSON & ASSOCIATES Matthew L. Anderson MAULDIN & JENKINS, LLC Wendy Esgar Elizabeth L. Greene Keith A. Wypyhoski MCCORMACK TAX Jessica McCormack MCCRADY & ASSOCIATES PLLC Stacy Z. McCrady MEHRHOFF & WRIGHT CPA FIRM Franklin J. Wright MEIER CONSULTING, INC Kurt F. Meier MELBY & ASSOCIATES, PA CPAS Katherine L. Cary MERRILL LYNCH Ligia Di Nallo METLIFE INSURANCE AGENCY Douglas S. Roland MIAMI DADE COLLEGE Miluska Berrocal Fernando A. Diaz Lopez MOSS & ASSOCIATES, LLC M L. Berry MSL, P.A. Matthew Parsons NELSON DAVILA, CPA Nelson Davila-Perez NEW YORK LIFE Thomas A. Christensen Jr NEXTERA ENERGY, INC Melissa L. Skinner Thomas NORTH FLORIDA CHILD DEVELOPMENT INC Beverly H. Waldrip NOVA SOUTHEASTERN UNIVERSITY H. WAYNE HUIZENGA SCHOOL OF BUSINESS Barri A. Litt ORION180 INSURANCE Christoph Birchler PACTIV EVERGREEN Rebecca J. Stringer PASCO-HERNANDO STATE COLLEGE Ryan Koehler

FLORIDA CPA TODAY | WINTER 2024

PAYKONCEPT MERCHANT SOLUTIONS Mumtaz Tharoo PAYLOCITY Gabriel Duran Shannon Martinez James Weir PERCH WEALTH David Bulger PESCIENCE, LLC Kathryn M. Vincent PIECFOMIND, LLC Karen L. Miller PLANTE & MORAN PLLC Daniel P. Hawn Pamela L. Hill PORTER WRIGHT MORRIS & ARTHUR LLP AnnaMaria C. Ingram PRAGER METIS Michael J. Aroyo Stefanie G. Gassman PRIBRAMSKY & COMPANY CPAS Marc M. Tolman PRICEWATERHOUSECOOPERS Smiley L. Albert III Kimberly M. Almonte Indira Bachoo Kelly P. Bailey Matthew A. Bancroft Frank Bommentre Laphil Bowles Jacqueline N. Brenner Danielle B. Brooks Jeffrey A. Clement Kristie E. Crouse Barbara H. Cunningham Alexander O. Delgado Tara DiMartino Leslie M. Donovan Brennan Donze Kathryn Dove Samantha K. Dring Kathryn A. Dukes Sarah M. Ellison Paul A. Fack Bradley J. Fako Bryce W. Faraguna Emily S. Flood Daniel M. Freedman Mitchell S. Friedman Stephen Graber Matthew S. Griffin Jana A. Grossenbacher Alison Heigel Michael J. Hill Maria Kavouklis Jeffery T. Keener Rachel M. Kelly Joseph Killian Katie N. Kimmerly Sara L. Kirk Christina Kmetz Jessica L. Kohlhaas Ryan J. Latta Devany A. Ledford Lisa M. Lin Katelynn M. Long

Alexandria T. Martinson Liliana Medina-Loaiciga Dmitriy V. Meleshko Sarah M. Meyerdirk Timothy A. Milewski Sarah M. Miller Austin Mukolwe Ada Ou Bruce W. Plaskett Rachael L. Pruitt Morgan L. Roberts Bethany D. Rodriguez Michael D. Rosillo Tara N. Roy Mary M. Sawyer David M. Shrimpton IV Ashley B. Smith Ja’kim Spencer Nicole C. Strauss Armando A. Torres Rebecca M. Viteri Timothy Ward Ashley White Jason J. Witt Yiqing Yang Louise Yeung Weichen W. Zhang Lauren Zopatti

SMOAK, DAVIS & NIXON, LLP Cayli A. Czak SOUTHERN NEW HAMPSHIRE UNIVERSITY Amanda Gallagher SPT BUSINESS CONSULTING, LLC Sandra P. Tapia ST THOMAS UNIVERSITY Ashley Etienne Michael Rodriguez STETSON UNIVERSITY Pearl J. Dakup Ian D. Hunt Jennings P. Pitts Jonathan A. Smith Ty Van Seters Stephanie R. Vasquez STEVEN M. SERVIDIO, CPA Steven M. Servidio SUMMIT CONSULTING, INC Gibran R. Nunez SYNC ACCOUNTING SERVICES Thomas R. Duff Jr

PRISCILLA THOMASEVICH, CPA Priscilla C. Thomasevich

TALLAHASSEE COMMUNITY COLLEGE-CAPITOL CENTER Everett M. Montgomery

PYRAMID GLOBAL HOSPITALITY Jacqueline T. Humes

TAX & BUSINESS SOLUTIONS Matthew R. Gottfried

QUANTUM ADVISORS CHOICE Sandra M. Sarria

TAX SAVERS Susan L. Rhea Christopher M. Vaal

RALPH, PRICE, MCAULIFFE & ASSOCIATES Jonathan P. Deveny

TESTU & TAYLOR, LLC Rebecca W. Kelly

REHMANN ROBSON LLC Martin Akerman Tyler J. Bowman

THE ALLIANCE GROUP Matthew Saponara Ruth M. Ward

RINGLING COLLEGE OF ART AND DESIGN Shan-Mei Phillips

THOMAS HOWELL FERGUSON, PA Jennifer B. Moore

RIVERO, GORDIMER & CO, PA Jordan Hoerner RSM US LLP Edwin E. Floran Jaime E. Lancellot Austen C. Shook SALVER & SALVER CPA LLP Seth E. Salver SARASOTA MEMORIAL HEALTH CARE SYSTEM Colby R. McAnarney SCANU ADVISORS Richard J. Scanu Jr SECURE WRAP Juan C. Guarin SEMINOLE STATE COLLEGE Bernadette T. Carlisle Sebastian Galarza SEMMRO CORP Ovidiu O. Rusz

TRIPP SCOTT, PA Zachary T. King TRIVERGENT TRUST COMPANY Kimberly Ouellette UNIVERSITY OF CENTRAL FLORIDA Jessica Abels Alexandra Abreu Melinda M. Archer Alexandria M. Arlotta Martin R. Balboa Antoine R. Bali Patrick B. Bell Lexi Bernstein Sarah G. Bolton Samantha Bonavita Sheer Briones Keyana Brown Daniel W. Burzumato Stephanie Chu Dominick P. Cotoni Thomas J. Cura Analise L. Danforth Melissa De La Cruz Daniel R. DeFeo

Natalia Del Vecchio Kaeley V. Einheuser Julian Espinosa Isaac Fernandez Gonzalez Yaziriz Fontanez Jose Paolo M. Garcia Michael Gonzalez Seth Graddy Sophia M. Grossi Nesren W. Haifa Julia L. Hansen Mackenzie Herndon Elizabeth C. Howe Sarah J. Howell Jordan A. Joseph Jason Kyle Jacob L. Laakso Alessandra LaVita Justin LHeureux Jasmine Lightbourne Diana Lopez Garcia Jazmin Luevano Kristi R. Lury Jonah Lynne Taya L. Martinez Hannah Mayer Kiley L. McDermott Diego Medina Alejandro Mendiola Alexys M. Miranda-Aboyme Jaime R. Molina-Osorio William Moreland Daniel A. Obregon William T. O’Malley Lindsey Padilla-Romero Joseph J. Palazzo Deborah Reynolds

Jaleen Rosas Brooklynn M. Sander Kathleen Schlereth Amelia Seger Isidoro Serrano Luciano Siracusa Romana Sylvestre Lam A. Tran Tran B. Tran Sreehit Uday Logan D. Underwood Emily J. Weinstein Dalton M. Whildin Erin Wilkes Tina Yang Nathalie Carrettoni Sophia Khan Bertrand Noel

UNIVERSITY OF SOUTH FLORIDA SCHOOL OF ACCOUNTANCY Madison Carrillo Garza Jaydan J. Jackson Emely Jaime Adrienne Merritt Marina Perez Lloyana Walters Tianxin Ye

UNIVERSITY OF FLORIDA Rodrigo J. Cortez Rebekka E. D’Auria Ruijun Wan UNIVERSITY OF FLORIDA COLLEGE OF MEDICINE Alexander A. Cardoso UNIVERSITY OF MIAMI SCHOOL OF BUSINESS ADMINISTRATION Daniel A. Medina UNIVERSITY OF MIAMI SCHOOL OFFICE OF GENERAL COUNSEL Steven E. Stark UNIVERSITY OF NORTH FLORIDA Kason Miller

UNIVERSITY OF TAMPA Elena Klevsky Catherine E. O’Grady

WESTERN GOVERNORS UNIVERSITY William A. Childress Christopher Gordillo Sheba Powell WHEELER & ASSOCIATES Debra C. Taylor WILFREDO VEGUILLA, CPAS Wilfredo R. Veguilla WILLIAM A. JACKSON & CO, CPAS William A. Jackson

UNIVERSITY OF WEST FLORIDA Alexis Lyle

WITHUMSMITH+BROWN, PC Bernadette Jennings

US CENTURY BANK Alondra E. Castillo

WLD ENTERPRISES, INC Kaila M. Regan

VALENCIA COLLEGE DISTRICT OFFICE Christine M. Kretchik

WOLTERS KLUWER Josh Dahlberg

VERIZON COMMUNICATONS, INC Viktoria Kazsamer Manisha R. Patel VERNON & VERNON Kerri Blenker, CPA VISIT FLORIDA Madrika L. Reyes WARREN A. FRANK, CPA Warren A. Frank WAYNE A. GOULD, CPA Wayne A. Gould

XANDO ENERGY Robert A. Bradley UNAFFILIATED Adriana L. Arguello George S. Barberi Wendy Barlin Michelene Brown Christopher Byrne David W. Claytor Stuart Cohen Martha M. Coloma Margaret D. Combs Kevin J. Cook Hannah L. Dean Richard Driscol II

Ana M. Dropps Linda Emery Thomas J. Fishbaugh Jonathan L. Gassman Alexander Gerber Barry M. Grant Frances S. Gutt Steven Guzik Heather C. Haskin Wenisha S. Jones Hafiz Z. Kanji Steve Kennedy Dylan R. Kimmons-Ruikka Phillip H. Kish Beata Kopanska Monica L. Larriva Johann D. Lewis Michelle L. McGlaun Michael A. Mertz Joel G. Nettesheim Diamyri Norton Alina Penjiyeva Barbara A. Polomsky Ronald L. Rickles Rebecca S. Romancky Francis P. Scudese Steven R. Segre-Lewis Shaun T. Smith Brian C. Sorrells Erik S. Tallbe Brooke T. Tefft Sean L. Tobin Peter J. Toporowski Lisa J. Weiden Brett Wherry Christopher P. Whitby Christian L. Wright

WINTER 2024 | FLORIDA CPA TODAY

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Members Members ON ONTHE THE Move Move Anglin Anglin Reichmann Reichmann Armstrong, Armstrong, P.C. P.C. announced announced the the promotions promotions of LeAnne of LeAnne Goode, Goode, Meg Hampton, Meg Hampton, Kavitha Kavitha Hichkad Hichkad and and Andrew Andrew Labosier Labosier from from Manager Manager to Partner, to Partner, joining joining the executive the executive team team effective effective Jan. 1.Jan. 1.

Gladstone Gladstone & Company, & Company, LLC LLC and Guy and Strum, Guy Strum, PA merged, PA merged, effective effective Jan. 1,Jan. resulting 1, resulting in thein the establishment establishment of their of their new entity, new entity, Gladstone, Gladstone, StrumStrum & Company, & Company, PLLC. PLLC. The firm The released firm released the the following following statement, statement, announcing announcing the merger. the merger.

M O

C KeefeKeefe McCullough McCullough announced announced that its that its Assurance Assurance Partner, Partner, Stephen Stephen Emery, Emery, has has been been appointed appointed to theto the AuditAudit Advisory Advisory BoardBoard for the forCity the of City of Fort Lauderdale.

Fort Lauderdale.

This appointment This appointment is a testament is a testament to Stephen’s to Stephen’s expertise, expertise, dedication, dedication, and commitment and commitment to to excellence. excellence.

“I’m impressed “I’m impressed with with As a member As a member of theofAudit the Audit Advisory Advisory the caliber the caliber of leaders of leaders Board, Board, Stephen Stephen will play will aplay crucial a crucial “This“This strategic strategic collaboration collaboration we have we have at all at levels all levels of of role ensuring in ensuring the financial the financial combines combines the cumulative the cumulative experience experience role in our firm. our firm.

Becoming Becoming integrity and transparency and transparency of theof the of over of 75 over years, 75 years, forming forming a dynamic a dynamic integrity a partner a partner is a big is a big city’scity’s operations. operations.

His vast Hisexperience vast experience forceforce in professional in professional accounting accounting deal as deal professionals as professionals and knowledge and knowledge in auditing in auditing will be will be services. services.

Our team, Our team, comprised comprised of of gain experience gain experience and and invaluable invaluable in providing in providing guidance guidance dedicated dedicated professionals, professionals, boastsboasts contribute contribute so much so much and oversight and oversight for the forCity’s the City’s financial financial expertise expertise acrossacross multiple multiple facetsfacets to ourtoclients our clients and and matters. matters.

His appointment His appointment reflects reflects of accounting of accounting and auditing. and auditing.

This This communities,” communities,” said said not his onlyprofessional his professional capabilities capabilities merger merger strengthened strengthened our collective our collective not only Brandon Brandon Smith, Smith, buthis alsodedication his dedication to serving to serving the the proficiency, proficiency, elevated elevated our efficiencies, our efficiencies, but also managing managing partner partner at at community. community. and embraced and embraced cutting-edge cutting-edge Anglin.

Anglin.

“I visit “I with visit with otherother firmsfirms technology. technology.

We are Weexcited are excited aboutabout acrossacross the country the country and many and many of of enhancing enhancing our quality our quality to better to better serveserve themthem are having are having trouble trouble finding finding our valued clients clients and community and community the next the generation next generation of partners of partners and and our valued and strengthening our position our position as as keeping keeping people people in theinprofession. the profession.

It It and strengthening industry leaders. leaders.

We look We forward look forward is a testament is a testament to ourtoculture our culture and the and the industry this exciting chapter chapter and are and are health health of theoffirm the that firmwe thathave we have four four to thistoexciting committed committed to delivering to delivering excellence excellence individuals individuals who have who have earned earned this this in professional in professional accounting accounting services. services. ” ” Congratulations promotion. promotion. ” ” Congratulations to FICPA to FICPA member member Larry Larry Aguero Aguero on his onrecent his recent

Are Are you you a member a member on on the move? the move?

EmailEmail your good your good newsnews to to communications@ficpa.org communications@ficpa.org and you andcould you could be included be included in in the next the issue next issue of Florida of Florida CPA CPA Today!Today!

40

promotion promotion to Assistant to Assistant Controller Controller for the forMiami-Dade the Miami-Dade County County Finance Finance Department.

Department.

LarryLarry has has served served Miami-Dade Miami-Dade County County for for 18 years, 18 years, advancing advancing fromfrom Revenue Revenue Congratulations Congratulations to FICPA to FICPA member member & Productivity & Productivity Analyst Analyst to Special to Special Nancy Nancy T. Grzesik, T. Grzesik, on obtaining on obtaining and and Projects Projects Administrator Administrator to Financial to Financial updating updating her AICPA her AICPA International International Reporting Reporting & Audit & Audit Coordinator Coordinator to to Financial Financial Reporting Reporting Standards Standards his new his role. new role.

Certification.

Certification.

Nancy Nancy is an is adjunct an adjunct professor professor teaching teaching international international accounting accounting for University for University of of Maryland Maryland Global Global Campus.

Campus.

She She also teaches also teaches at Gwynedd at Gwynedd Mercy Mercy University.

University.

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