Accounting Connect - Spring 2023

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Accounting Connect SPRING 2023

CONTENTS

A Conversation with Tracy M. Allen 16

Meet 2023-24 Chair Tracy Allen, Aldrich CPAs + Advisors LLP, Lake Oswego, and learn what she loves about the CPA profession.

FEATURES

Key changes and planning opportunities under SECURE 2.0 Act 22

Signed into law December of 2022, the SECURE 2.0 Act makes nearly 100 changes to retirement plans.

Misconceptions of selling an accounting practice 25 Because selling a practice is such a rare event, sellers need to be aware of the key misconceptions about the process.

Improving your technology stack 28 Learn approaches to discover new cost-effective solutions in the market.

NEWS

Chair’s Message 4

OSCPA Chair Tracy Allen is passionate about looking towards the future.

2023-24 Board of Directors 10

Meet your colleagues who will serve on the OSCPA Board of Directors.

Recognizing Volunteers 12

Many thanks to members who gave their time and talent during our last fiscal year to make OSCPA your professional home.

Publisher Oregon Society of CPAs

Mailing address 10206 SW Laurel St. / Beaverton, OR 97005-3209 503-641-7200 / 800-255-1470 • Fax: 503-626-2942 www.orcpa.org / oscpa@orcpa.org

Chair

Tracy M. Allen

Chair-Elect

John D. Hawkins

Vice Chair

Gary A. Holcomb

Past Chair

Geoffrey T. Dougall

Board of Directors

Adam R.K. Abplanalp

Karen C. Anderson

Jonathan D. Grover

Megan S. Kurz

Tiffany K. Nash

Pedro J. Nunez Dieguez

David S. Porter

Ray L. (RL) Widmer III

Yvonne D. Zbranak

Chapter Council Chairs

Benton-Linn Chapter

Central Oregon Chapter

Eastern Oregon Chapter

Emerald Empire Chapter

Mid-Columbia Chapter

South Coast Chapter

Southern Oregon Chapter

All chapter chairs to be announced Summer 2023.

President/CEO

Sherri L.D. McPherson, IOM, CAE

Managing Editor

Leslie R.P. Konst, MS lkonst@orcpa.org

Editor Susan Fleming sfleming@orcpa.org

The Oregon Society of CPAs assumes no responsibility for statements or advertisements herein and reserves the right to reject any advertising. Statements and opinions expressed are those of the authors and not necessarily those of the OSCPA. Publication of an advertisement does not constitute an endorsement of the product or service by AccountingConnector the OSCPA.

Send address changes to OSCPA / 10206 SW Laurel St. / Beaverton, OR 97005-3209 Or update your member profile online at www.orcpa.org/my-oscpa/profile

Copyright© OSCPA 2023

Cover image by Mike Schoenholtz

Magazine design by Joleen Funk joleen.funk@gmail.com

Stock images by istockphoto.com & stock.adobe.com

Connect with OSCPA

Volunteering for the OSCPA for me began in my early twenties, less than a year out of school. I wouldn’t say so much it was volunteering as I was voluntold. A manager called me into his office and said OSCPA was looking for someone younger to bring a fresh perspective to a committee. He then informed me that I would be that fresh perspective and that the meeting was tomorrow.

Over two decades later, I’m still here and I can’t thank him enough. I have volunteered on committees, on the board, helped to create the LEAP™ program and now I am going through the chairs. It is my way of giving back to the profession that has given so much to me.

I’ve been asked over the years, when did I decide an accounting career was for me? So many others in the profession knew in high school that they wanted to be an accountant. Not me. Entering college, I planned to study political science and eventually go to law school. I had my entire life mapped out like most 18-year-olds. I was going to be a lawyer, I was going to be successful, I was going to have a big house,

Adapting to challenges, building the future

Contact

Tracy Allen at ChairTracy@orcpa.org

I was going to get married some day in a white dress and so on. And, like most 18-year-old dreams, the lawyer part shattered quickly during the first semester of my freshman year when I realized that my governmental class simply wasn’t interesting. I found my way to accounting the following year and never looked back.

I love accounting; I love the profession of accounting. There aren’t too many people I can say that to without them falling asleep mid conversation, but not this group, this group I can shout it from the rooftops. I LOVE ACCOUNTING!

To me it’s about the numbers. It’s about solving the puzzle. It’s about innate curiosity and craving continuous learning and knowledge. It’s getting lost in a journal entry trying to find the solution. About surrounding myself with people much smarter than myself. It’s about making something balance. It’s about teaching and continuous learning. Accounting is about working in dynamic teams to solve problems. It’s about leadership, education, and most of

all, accounting is about people. It’s all about helping people. At the office I strive to help clients achieve their goals. And as the incoming chair of the OSCPA, I strive to help grow the CPAs of today into the leaders and trusted advisors of tomorrow.

I was recently talking to a staff in our office who mentioned his friends laughed at him in college for going into accounting. They asked why he would choose a profession that would soon be obsolete? I have never thought of accounting as obsolete. It’s a historic profession. There is evidence of accounting in multiple ancient civilizations around the world. The statement that accounting is obsolete, or about to become obsolete, did make me pause and ponder. Are we as accountants a ticking clock about to expire? Could our profession become extinct? I don’t believe either of those questions for one moment.

I do believe our profession is changing and will continue to change. It’s already different than just a few decades ago.

Tracy Allen 2023-24 OSCPA Chair

“I am passionate about looking towards the future and equipping members with the tools and talents needed to continue to be successful in an ever-changing profession.”

Automation, COVID, and the pace of technology have altered how we work. However, I’m a firm believer that our profession, and we as individual accountants, have adapted to each of these challenges and will continue to adapt.

As the incoming chair I am passionate about looking towards the future and equipping members with the tools and talents needed to continue to be successful in an ever-changing profession and an ever-changing world.

However, I’m a firm believer that our profession, and we as individual accountants, have adapted to each of these challenges and will continue to adapt. We will need to grow our skillsets beyond debits and credits to leadership and advisory. We will need to be able to raise our heads above the trees and see the entire canopy of the forest, to think strategically as well as be able to execute that vision. We will need to be the chameleons of business changing quickly and blending seamlessly between accounting, finance, emotional intelligence, strategy, execution, influ-

encing, and relationships. We will need to be resilient and continue to grow and change as business changes. I am passionate about helping members do just that, and I believe the OSCPA is the organization to lead us.

Through working together, connecting through CPE, advocacy, and leadership development, we are the future of the profession. We are the CPAs of today that will be the leaders and the trusted advisors of tomorrow. I look forward to taking this journey with all of you.

Kudos & accomplishments

Send your news and announcements to communications@orcpa.org.

New Hires

Jason A. Clark has joined McDonald Jacobs PC, Portland, as senior tax manager.

Kaitlin Hirasa joined Aldrich CPAs + Advisors as an intern.

Irwin Leon and William True joined DPW Certified Public Accountants as tax season interns.

Gina E. Thompson has returned to Isler Northwest LLC, Portland, as director of operations.

Promotions

Jackson Bevens, Isler Northwest LLC, Portland, has been promoted to supervisor.

Emily K. Bradford, Bryce Baker, and Caleb J. Pilling were each promoted to shareholder at Geffen Mesher, Portland.

Josh J. Caddel was promoted to manager at Delap LLP, Lake Oswego.

Allison M. Clark and Jason M. Park were promoted to senior 1 at Jones & Roth CPAs and Business Advisors, Eugene. They both interned with Jones & Roth while attending school.

Megan Countryman was promoted to senior at Delap LLP, Lake Oswego.

Jordan R. Dawley was promoted to senior manager at Jones & Roth CPAs and Business Advisors, Bend.

Taylor M. Ferre was promoted to staff 2 at Jones & Roth CPAs and Business Advisors, Hillsboro.

Heather L. Jackson has been promoted to managing partner at Dougall Conradie LLC, Portland.

Cierra E. Leopoldino was promoted to senior associate at Grove Mueller & Swank PC, Salem.

Brooke Lomica was promoted to senior 2 at Jones & Roth CPAs and Business Advisors, Eugene.

Stephen L. McCutcheon was promoted to staff 2 at Jones & Roth CPAs and Business Advisors, Bend.

Jonathan R. McGuire was promoted to partner at Aldrich CPAs + Advisors, Salem.

Daniel A. Miley was promoted to partner at Talbot, Korvola & Warwick LLP, Portland.

Ashleanna J. Peters was promoted to senior at Delap LLP, Lake Oswego.

Toby S. Roth was promoted to manager at Grove Mueller & Swank PC, Salem.

Aaron C. Sachs was promoted to senior manager at Jones & Roth CPAs and Business Advisors, Hillsboro.

Jeffrey R. Schmitt was promoted to manager at Delap LLP, Lake Oswego.

Rachel L. Shaich was promoted to manager at Delap LLP, Lake Oswego.

Hannah A. Swan was promoted to senior manager at Aldrich CPAs + Advisors, Lake Oswego.

Adam Abplanalp

Tonya Moffitt

Hannah Swan

Megan Countryman

William True

Jonathan McGuire

Diana Strassmaier

Dan Miley

Harriet Strothers

Emily Bradford

Jason Orme

Alicia Tang

John Hawkins

Toby Roth

Candra Wilmes

Josh Caddel

Caleb Pilling

Karly Tell

Heather Jackson

Aaron Sachs

Sean Wright

Jessica Yoder

Jeff Schmitt

Alicia Tang was promoted to senior at Delap LLP, Lake Oswego.

Karly R. Tell was promoted to partner at Irvine & Company, Portland. She has been with the firm since 2014.

Candra C. Wilmes was promoted to senior at Delap LLP, Lake Oswego.

Sean Wright was promoted to senior at Delap LLP, Lake Oswego.

Recognition

Adam R.K. Abplanalp, Cobalt PC, Portland, and Harriet A. Strothers, Delap LLP, Lake Oswego, spoke at OSCPA’s City of Portland, Multnomah County, and Metro Taxes: Practitioner Perspectives.

Adam R.K. Abplanalp, Cobalt PC, Portland, spoke at OSCPA’s Oregon Department of Revenue Update.

Sonjia L. Barker, Perkins & Co., Portland, Jason R. Orme, Talbot Korvola & Warwick LLP, Portland and Diana B. Strassmaier, Aldrich CPAs + Advisors LLP, Lake Oswego, spoke at the OSCPA State & Local Tax Conference.

Shelby R. Green, Kernutt Stokes, Eugene, was named president of Corvallis Young Professionals.

Tiffany C. Mellow, Perkins & Co, Portland, received the AICPA’s Standing Ovation Award for her significant contributions to the accounting profession and her community.

Tonya M. Moffitt, Merina + Co., Tualatin, spoke at the OSCPA Winter Governmental Auditing & Accounting Conference.

Sara Northcutt, Aldrich CPAs + Advisors, Lake Oswego spoke at the Lake Oswego Chamber of Commerce.

Firm & business news

Forbes named both Aldrich CPAs + Advisors and Perkins & Co, Portland, on a 2023 list of America’s Best Tax and Accounting Firms.

Aldrich CPAs + Advisors was ranked eighth in the large company category in the “100 Best Companies to Work for in Oregon” by Oregon Business.

Clark Nuber PS has been awarded the Best of Accounting Award by ClearlyRated. This is their third year receiving the honor.

Dougall Conradie LLC, Portland, volunteered to fill backpacks full of nutritious foods, which were distributed to local area school families.

Kernutt Stokes, Eugene, recently became Rethink certified by BRING Recycling. This certification is for businesses that take positive steps to reduce their environmental impact.

Kernutt Stokes, Eugene, was named one of the “100 Best Companies to Work for in Oregon” by Oregon Business. They ranked 31st out of all mid-sized businesses in Oregon.

KDP Certified Public Accountants LLP, Medford, was recognized as one of the “100 Best Companies to Work For In Oregon” by Oregon Business for the fourth year in a row, ranking #1 out of all medium-sized CPA firms and #9 of all medium-sized businesses in Oregon.

Perkins & Co, Portland, won ClearlyRated’s Best of Accounting Diamond Award for client service excellence for the tenth year in a row.

Academic & pipeline news

Stanley C. Compton, Compton English and Hunsaker PC, Salem, spoke about a career as a CPA to high school students at the Career & Technical Education Center for the SalemKeizer School District.

John D. Hawkins, Grove Mueller & Swank PC, Salem, presented on Succession Planning to the Chemeketa Agribusiness Management Class on the role a CPA plays in customizing individual needs in transitioning the family farm to the next generation.

Jessica E. Yoder, McDonald Jacobs PC, Portland participated in the Lake Oswego School District Annual Career Night & Job Fair to help students learn about a career as a CPA.

Michael T. Mead, managing partner at CliftonLarsenAllen LLP, Portland, spoke at Lakeridge Middle School’s Career Day on Friday, April 7. Michael has been in public accounting since 2007 and with CLA since 2012. ”I am a believer that as a profession, we need to expand our recruiting past the typical colleges and into our high schools and earlier, so this opportunity to speak to middle school students is one near to my own passions.”

Congratulations new CPAs

These members became certified in December 2022 and January and February 2023.

Emily Alimonos, Grove Mueller & Swank PC, Salem

Jackson Bevens, Isler Northwest LLC, Portland

Mary Billings, Antica Terra Winery, Dundee

Allison M. Clark, Jones & Roth PC, Eugene

Juan D. Cortes Perez, Portland

Brooke Lomica, Jones & Roth PC, Eugene

Vanessa Morehouse Espinoza, Capstone Certified Public Accountants LLC, Klamath Falls

Cory J. Robbins, Geffen Mesher & Company PC, Portland

McKenna R. Sampson, Moss Adams LLP, Eugene

Kevin M. Sandri, Irvine & Company LLC, Portland

Cindy Shurtz, Dickey and Tremper LLP, Pendleton

Jennifer L. Welch, McDonald Jacobs PC, Portland

Madison R. Welch, Moss Adams LLP, Portland

Recognizing life members

In memory

The

Congratulations to these members who achieved life membership status in 2023.

Katherine K. Bingenheimer

Darlene E. Boles

Richard W. Brewster

Jeannette L. Brinker

Randa K. Brooks

Richard D. Caldwell

David G. DeLap

Geoffrey T. Dougall

Steven A. Evans

Martha P. Gazeley

Terry L. Griffin

Asad I. Khan

Lori P. Luck

Edmond B. O’Connor

Robert A. Sederstrom Jr.

Donald L. Taylor

Jackson Bevens Emily Alimonos Mary Billings Juan Cortes Perez Brooke Lomica Vanessa Morehouse Espinoza

Cindy Shurtz Jennifer Welch

Darlene Boles Richard Brewster Randa Brooks David DeLap Geoffrey Dougall Steven Evans Barry O’Connor

Welcome members

The following individuals became members in December 2022 and January and February 2023.

Benton-Linn

Katlyn L. D’Agostini, Polk County, Dallas

Aaron Rivers, Stover Neyhart Yee & Co., Corvallis

Central Oregon

Albert J. Colombo, Price Fronk & Co. LLP, Bend

Melissa A. Irvine, Callan Accounting CPAs & Advisors LLC, Bend

Diane M. Perry, Friedman & Perry CPAs, Sisters

Rebecca C. Perry, Friedman & Perry CPAs, Sisters

Patrick E. Stam, Jones & Roth PC, Bend

Eastern Oregon

Katina N. Ferguson, Cockburn & McClintock LLC, Pendleton

Harmony Piazza, Solutions CPAs PC, John Day

Emerald Empire

Valerie D. Beecroft, Mary J Sykes CPA PC, Roseburg

Ying Li, Kernutt Stokes LLP, Eugene

McKenna R. Sampson, Moss Adams LLP, Eugene

Metro Portland

Douglas L. Alberty, Irvine & Company LLC, Portland

Elizabeth M. Anderson, Intel Corporation, Hillsboro

Andrew P. Boone, Aldrich CPAs + Advisors LLP, Lake Oswego

Keenan P. Brown, McDonald Jacobs PC, Portland

Rebecca L. Curton, Hoffman Stewart & Schmidt PC, Lake Oswego

Delaney DeWolfe, Delap LLP, Lake Oswego

Alexa Eilerts, Top Kohlbush & Hoem LLP, Portland

Claudia Estrada, Grove Mueller & Swank PC, Salem

Erin K. Finch, PricewaterhouseCoopers LLP, Portland

Bryan R. Freitag, TD Consulting Group PC, Milwaukie

Jessica R. Guenther, Happy Valley

Amber Hanson, Delap LLP, Lake Oswego

Iris W. Herrera, Yamhill

Thao T. Ho, Top Kohlbush & Hoem LLP, Portland

Kismet Kilbourn, Price Financial Group Accounting & Tax LLC, Tigard

Ryan D. Kister, Delap LLP, Lake Oswego

Andrew Lalli, Cross Financial, Portland

Elizabeth J. Lancaster, Elizabeth J Lancaster CPA, Salem

John J. Lee, McDonald Jacobs PC, Portland

Jennifer B. Loffink, Portland Christian Schools, Portland

Katherine Lukas, Irvine & Company LLC, Portland

Alessandra J. Mahan, Perkins & Co., Portland

Andrew G. Marshall, Moss Adams LLP, Portland

John A. Martin, TD Consulting Group PC, Milwaukie

Donald M. Masters Jr., Eichenbaum Bateman Larkin

CPAs LLC, Tigard

Michael T. Mead, CliftonLarsonAllen LLP, Portland

Andrew Meyer, Alten Sakai & Company LLP, Beaverton

Jimmy Nguyen, Damascus

Philip N. Patrick, Irvine & Company LLC, Portland

Aidan Perry, Delap LLP, Lake Oswego

Ashleanna J. Peters, Delap LLP, Lake Oswego

Joshua P. Quinn, Grove Mueller & Swank PC, Salem

Johanna Salas Flores, McDonald Jacobs PC, Portland

Kevin M. Sandri, Irvine & Company LLC, Portland

Luke E. Schultz, Human Investing, Lake Oswego

Tonya M. Tompkins, Tonya M Tompkins CPA LLC, Beavercreek

Paige A. Ward, Delap LLP, Lake Oswego

Madison R. Welch, Moss Adams LLP, Portland

Robert J. Wise, Irvine & Company LLC, Portland

Angela Woodward, Parsons Farnell & Grein LLP, Portland

Southern Oregon

Diana C. Green, Diana Crabtree Green CPA, Jacksonville

Tonia Miller, Romig & Peile CPAs PC, Klamath Falls

Out-of-State

Janice R. Blair, Janice Blair CPA, Vancouver, WA

Reid M. Grossmann, Coeur D’Alene, ID

Patricia M. Lawrence, Opsahl Dawson & Company, Vancouver, WA

Krysta L. Smith, CBIZ Berntson Porter, Bellevue, WA Students

Laura E. Broughan, Salem

Bonnie Dinh, Happy Valley

Eric J. Gormley, Portland

Kyndel M. Lumley, Bend

Ingrid Lyons, Portland

Rodrigo Martinez, Eugene

Melisha S. Perera, Hillsboro

Christopher M. Prusso, Gresham

La Tisha Rico, Clackamas

Fey Saefong, Gresham

Nicole L. Solberg, Red Oak, IA

Reid Stosik, Bend

Erika Tellez-Mendoza, Forest Grove

Justin S. Thompson, Klamath Falls

Chunyang Wang, Hillsboro

Collin Weeks, Battle Ground, WA

Michael Williams, Corvallis

Elise Wilson, Portland

Introducing 2023–24 OSCPA Leadership

Board of Directors

Jonathan D. Grover Director: 2023-26 City of Hillsboro Hillsboro, Oregon

Karen C. Anderson Director: 2023-24

Onboard Dynamics, Inc. Bend, Oregon Eugene, Oregon

Adam R.K. Abplanalp Director: 2022–25 Cobalt PC Portland, Oregon

Medford, Oregon

Yvonne D. Zbranak Director: 2022-25 Silverline LLP Bend, Oregon

Ray L. (RL) Widmer III Director: 2023-26 Moss Adams LLP Eugene, Oregon

Pedro J. Nunez Dieguez Director: 2021–24

People First Consulting LLC Beaverton, Oregon

David S. Porter Director: 2021–24

Geffen Mesher & Company PC Portland, Oregon

Geoffrey T. Dougall Past Chair Dougall Conradie LLC Portland, Oregon

Tracy M. Allen Chair

Aldrich CPAs + Advisors LLP Lake Oswego, Oregon

Gary A. Holcomb Vice Chair Ernst & Young LLP Portland, Oregon

John D. Hawkins Chair-Elect Grove Mueller & Swank PC Salem, Oregon

2022-23 & 2023-24 OSCPA Joint Board Meeting

On March 22, 2023, the 2022-23 Board of Directors gathered for the final board meeting of the year. Members beginning their terms met those concluding their terms. Chair Geoff Dougall recognized Gary Holcomb and Dave Porter, who served as 2022-23 Secretary and Treasurer respectively, and Charles Mello, 2022-23 Past Chair.

Chair Dougall also recognized outgoing board members Karen Anderson, Cynthia Granatir, and Harriett Strothers, who concluded their terms on the board at this meeting.

Chair-elect Tracy Allen welcomed incoming 2023-24 board members Jonathan Grover, Tiffany Nash, and RL Widmer. Read more about the board members at www.orcpa.org/about/board-of-directors

Geoff Dougall with incoming Chair-Elect John Hawkins.

Geoff Dougall thanks outgoing Secretary Gary Holcomb.

Geoff Dougall thanked incoming and outgoing Board members with a selection of his favorite BBQ sauces.

Board members attended the meeting in person and on Zoom.

Recognizing 2022-23 Volunteers

Thank you for your commitment and participation.

OSCPA Project Committee Members

Accounting & Auditing Project Committee

Erin B. Galyean

Leena A. Kabadi

John S. Mohler

Paula J. Palmer

Mark A. Sleasman

Diana B. Strassmaier

Olesya V. Ternovykh

Hiroshi Yoshimori

Construction Industry Project Committee

Richard D. Anderson

Dane E. Brammer

Patricia D. Dunn

Shane D. Gentry

Terry L. Griffin

Carol Ann Kirby

Daryl V. Knox

Todd D. McDaniel

Michael D. Sause

Sarah C. Shaw-Stahlke

Christopher D. Valentine

Ray L. (RL) Widmer III

ERISA Project Committee

Victoria L. Bryson

James A. Carnegie

Evan B. Dickens

Anne McCaleb

Ryan A. Northcutt

Karen D. Porter

Mark A. Sleasman

Estate Planning Project Committee

Linda M. Barnett

Cameron Clark

Reginald deGuzman

Chantha V. Dinelli

Darryl G. Eddy

Kristina D. Gochnour

John D. Hawkins

Cameron M. Irtifa

Kimberly A. Llorens

George S. Middleton

Karey A. Schoenfeld

Farming, Ranching & Agribusiness Project Committee

Kathryn A. Ashford

Melissa R. Carlgren

Susan K. Crawford

Joseph E. Fitts

Carla H. Himmelmann

David B. Klinger

Minda Lourence

Kari J. Ott

Eugene L. Stewart

Kyle M. Walter

Financial & Retirement Planning Project Committee

Kathleen L. Bernards

Vanessa DeHaan

Cameron M. Irtifa

Carol Ann Kirby

George S. Middleton

Michael R. Miller

Nelson E. Rutherford

Mylen N. Shenker

Forest Products Project Committee

Clinton J. Bentz

Jay D. Broudy

Stefani M. Faunce

Jose B. Gonzalez

Andrew T. Kaiser

Rachel L. Lee

Sarah J. Padfield

Joel L. Powell

Jonathan D. Powell

Lyn M. Smith

Matthew E. Snyder

James L. Workman

IRS/Practitioners Forum Project Committee

Douglas R. Henne

Northwest Federal Tax Conference Project Committee

Judith E. Killian

Gayle E. Kovacs

Michael R. Miller

Paul T. Mueller

Robert O. Nelson

Daniel R. Pittenger

Real Estate Project Committee

Adam R.K. Abplanalp

Susan K. Crawford

Reginald deGuzman

Darryl G. Eddy

Cameron M. Irtifa

Michael L. Lortz

Jonathan R. McGuire

Michael R. Miller

State & Local Taxation Project Committee

Karen C. Anderson

David L. Austen

Susan K. Crawford

Carla H. Himmelmann

Judith E. Killian

Minda Lourence

Asif I. Muzaffarr

Kurt M. Sand

Diana B. Strassmaier

Penny M. Sweeting

Teresa L. Williams

Stephen B. Workman

OSCPA Strategic Committee Members

Business Management & Advisory Services Strategic Committee

William H. Blair

John M. Gamiles

Cameron M. Irtifa

Ryan T. McClung

Michael R. Miller

Eric G. Nufer

Theresa C. Pilgrim

David S. Porter

Karen L. Rasmussen

Mark L. Skoglund

Audrey L. Stevens

Governmental Accounting & Auditing Strategic Committee

Anton P. Ballek

William R. Barker

Bradley G. Bingenheimer

Barbara J. Blue

Christa M. Bosserman Wolfe

Gerald W. Burns

Chloe E. Dixon

Janice M. Essenberg

Julie B. Fahey

Cynthia A. Granatir

Jonathan D. Grover

Eileen E. Hendricks

Chelsea A. Hewitt

Philip L. Hopkins

Janell K. Howard

Gary J. Iskra

Amy I. John

Jessica H. Luther-Haynes

John I. Mickelsen

Daniel A. Miley

Tonya M. Moffitt

Kevin S. Mullerleile

Kari J. Ott

Ryan T. Pasquarella

Roy R. Rogers

Mylen N. Shenker

Steven L. Tuchscherer

Ashley Tuttle

Ronald R. Vaught

Robert G. Yingling Jr. Leadership Development Strategic Committee

Jackson Bevens

Natalie R. Heacock

Denise K. Petterborg

Krysta L. Smith

Debra S. Suchan

Selene L. Sullivan

Hannah A. Swan

Tracy L. White

Christa H. Zumach

Legislative Policy Strategic Committee

Tracy M. Allen

Harry E. Bose

Janice M. Essenberg

Timothy R. Filkins

Douglas R. Henne

Gary A. Holcomb

Thomas C. Maynard

Stephen S. McConnel

Keith H. Meyers

Steven W. Middleton

Robert G. Moody Jr.

Jason R. Orme

Selene L. Sullivan

Jayson F. Wartnik

Not-for-Profit Strategic Committee

Thomas Achor

Erica Aitken

Alexandra Aranda

Cynthia A. Barber

Cynthia P. Bartholomew

James H. Brinkman

Gerald W. Burns

Shirley D. Cyr

Christopher Dahlvig

Rene D. Deras

Michael K. Farnsworth

Erin K. Finch

Michelle J. Gall

Ian R. Gelfand

Gary J. Iskra

Todd D. Kimball

William S. Manne

Lorelei G. Martin

Gary N. McGee

Jason T. McGill

Charles R. Mello

Ryan E. Miller

Sarah K. Moll

John Ng

Kristina L. Oliveira

Cheryl R. Olson

Jennifer A. Perrier

Steven W. Poehler

Russell D. Price

Robert M. Prill

Joseph R. Rosevear

Katie L. Sheffield

Mylen N. Shenker

Kathleen L. Sohl

Eugene L. Stewart

Brooke A. Stout

Sandra A. Suran

Suzanne B. Taylor

Kellie R. White

Robert G. Yingling Jr.

OSCPA Women’s Initiatives Strategic Committee

Tracy M. Allen

Elizabeth D. Almer

Laura K. Bergstrom

Emily K. Bradford

Rosemarie Brammer

Tracy A. Caster

Colleen O. Chernus

Shirley D. Cyr

Danielle M. Groves

Rebecca A. Hubinsky

Patricia A. Labatte

Briana R. Mathias

Kathryn C. Maxson-Landis

Bri Melo

Jason R. Orme

Krysta L. Smith

Agnes I. Zoltowski

Peer Review Strategic Committee

Harry E. Bose

Mindy S. Davis

Evan B. Dickens

Mark D. Dickey

Sara L. Hummel

Travis Irving

William E. Maas

Pedro J. Nunez Dieguez

Andrew E. Peterson

Robert M. Prill

Richard V. Proulx

Robert G. Yingling Jr.

Professional

Development (CPE)

Strategic Committee

Adam R.K. Abplanalp

Tracy M. Allen

Karen C. Anderson

James A. Carnegie

Jason A. Clark

Janice M. Essenberg

John M. Gamiles

Douglas R. Henne

Michael R. Miller

Robert G. Moody Jr.

Paula J. Palmer

Hiroshi Yoshimori

Taxation Strategic Committee

Adam R.K. Abplanalp

Katrina M. Anderson

Kathryn A. Ashford

Michelle I. Bacigaluppi

Sonjia L. Barker

Dane E. Brammer

Chad B. Crawford

Reginald deGuzman

David V. Deming

Geoffrey T. Dougall

James A. Elliott

Thi H. Embury

Chad W. English

Timothy R. Filkins

Craig T. Freeman

Anne-Marie A. Gorbett

Jaime N. Hanford

John D. Hawkins

Douglas R. Henne

Gary A. Holcomb

Strategic thinkers and leaders wanted

OSCPA is looking for members who think strategically and are ready to lead. Is it you? Or do you know an OSCPA member who would be an asset to the leadership team? If so, please take a moment to tell us.

Recommendations and nominations are being accepted for the following:

• OSCPA Board of Directors

• The OSCPA Educational Foundation

• OCPA / Legislative Action Committee (OCPA/LAC)

• OSCPA Group Health Trust

• Oregon Board of Accountancy

Send your recommendations/nominations to:

Sherri L.D. McPherson, IOM, CAE, President/CEO 503-597-5480 / 800-255-1470, ext. 120; smcpherson@orcpa.org.

Carrie T. Huffman

George H. Hughes

Heather L. Jackson

William G. Keller

Judith E. Killian

Heather M. Lacey

Danny J. Lee

Rachel L. Lee

Minda Lourence

Gabriel J. Markiz

Thomas C. Maynard

Waris J. Mohamed

Daniel D. Morris

Asif I. Muzaffarr

Eileen C. Nguyen

Robert A. O’Neill

Jason R. Orme

Madeline Payne

Heather M. Porter

Katrina Z. Powell

Robert J. Riley

Gregory A. Rogers

Kurt M. Sand

William L. Siebler

Kimberly A. Spaulding

Diana B. Strassmaier

Harriet A. Strothers

Penny M. Sweeting

Rory B. Tosh

Sean P. Wallace

Valerie Warzon

Daniela Wells

Lene H. Westfall

Robert P. Wiest

Stephen B. Workman

Julie L. Yang

Jennifer Young

Iris Y. Zhao

Bruce D. Zimmerman

Young Professionals

Strategic Committee

Timnit Beraki

Cameron Clark

Alyssa Downs

Alexandra M. Gibson

Shelly G. Hartzell

Rebecca A. Hubinsky

Jacob C. Johnson

Heather M. Lacey

Judd Lewis

Minda Lourence

Kelly Lutz

Charles R. Mello

Waris J. Mohamed

Sarah K. Moll

Ruth O. Okenye

Madelyn Parsons

Sydney J. Sherman

Andrew J. Soltis

Brady A. Stutzman

Daniel J. Wardle

Daniel Whitmore

Agnes I. Zoltowski

OSCPA Boards

OSCPA Board of Directors

Adam R.K. Abplanalp

Tracy M. Allen

Karen C. Anderson

Geoffrey T. Dougall

Cynthia A. Granatir

John D. Hawkins

Gary A. Holcomb

Megan S. Kurz

Charles R. Mello

Pedro J. Nunez Dieguez

David S. Porter

Harriet A. Strothers

Yvonne D. Zbranak

OSCPA Group Health Trust Board of Trustees

David A. Buettner

James A. Carnegie

Stanley C. Compton

Geoffrey T. Dougall

James E. Harnish

Brendan A. Hoem

Gary S. Leavitt

Patrick Priest

Donald W. Schmidt

Michael N. Stone

OCPA/Legislative Action Committee

Adam R.K. Abplanalp

David E. Adams

Tracy M. Allen

Karen C. Anderson

Anna Barnsley Werblow

Harry E. Bose

James A. Carnegie

Mark E. Damon

Geoffrey T. Dougall

Janice M. Essenberg

Timothy R. Filkins

Cynthia A. Granatir

Randell C. Guyer Jr.

John D. Hawkins

Douglas R. Henne

Michele C. Henney

Ross E. Holliday

Amy I. John

Daniel A. Kosmatka

Megan S. Kurz

Michael E. Lynch

Keith H. Meyers

Tonya M. Moffitt

Robert G. Moody Jr.

Pedro J. Nunez Dieguez

Douglas C. Parham

David S. Porter

Katrina Z. Powell

Robert J. Riley

Harriet A. Strothers

Selene L. Sullivan

Suzanne B. Taylor

The OSCPA Educational Foundation

David E. Adams

Christopher Dahlvig

Tricia S. Duncan

Katherine S. Haines

Cass Hausserman

Matthew Hilton

James J. Jurinski

John R. Lauseng

Haley C. Lyons

Suzanne P. McGrath

Patricia M. Morris

Kara Obermire

Dwayne S. Richardson

Kristine Rupp

David M. Sacoolas

Richard W. Wingard

Board Standing Committees

Audit Committee

Tracy M. Allen

Harry E. Bose

Gary A. Holcomb

David S. Porter

Budget Committee

Adam R.K. Abplanalp

Tracy M. Allen

Karen C. Anderson

Geoffrey T. Dougall

Cynthia A. Granatir

John D. Hawkins

Douglas R. Henne

Gary A. Holcomb

Megan S. Kurz

Charles R. Mello

Pedro J. Nunez Dieguez

David S. Porter

Harriet A. Strothers

Yvonne D. Zbranak

Nominations Committee

Tracy M. Allen

Cameron W. Anderson

Mark E. Damon

Mark D. Dickey

Ross E. Holliday

Amy I. John

Elena L. McKee-Dabbs

Charles R. Mello

Paula J. Palmer

Dennis M. Quigley

Larry A. Reiber

Robert A. Sampson

Selene L. Sullivan

Yvonne D. Zbranak

Professional Conduct (Ethics) Committee

Kathryn A. Ashford

Laura K. Bergstrom

Gerald W. Burns

John D. Hawkins

Ross E. Holliday

Deborah J. Hollingsworth

TeriAnn Kruse

Ryan A. Northcutt

OSCPA Chapter Councils

Benton-Linn Chapter Council

Michael K. Farnsworth

Ross E. Holliday

Todd D. Yee

Christa H. Zumach

Central Oregon Chapter Council

Yvonne D. Zbranak

Eastern Oregon Chapter Council

Cameron W. Anderson

Emerald Empire Chapter Council

Michael B. Bergland

Sarah C. Coffman

Andrea L. Evans

Michele C. Henney

Charlotte A. Martin

Tiffany K. Nash

Dennis M. Quigley

Faith D. Quimby

Kerry L. Rasmusson

Justin S. Samudio

Ray L. (RL) Widmer III

Mid-Columbia Chapter Council

R. Angelo Sampson

South Coast Chapter Council

Larry A. Reiber

Grant L. Walding

Southern Oregon Chapter Council

Matthew L. Bowers

Gerri D. Davis

Mary L. Ericksen

Vicki J. Forehand

Elena L. McKee-Dabbs

Jessica L. Parker

Andrea F. Saxon Gibson

Carrie L. Zippi

2023

Announcing

Best Western Plus Agate Beach Inn, Newport, Oregon OSCPA Annual Meeting (½ day, morning),

Wednesday, May 3

• Members are invited to attend the annual Society meeting.

• Registration fee: $0 (Complimentary)

• Select option choices, plus add-on: “General registrant, Wed. annual meeting.”

• Includes Wednesday breakfast.

Register: www.orcpa.org/cpe/A23001

Questions? Contact OSCPA at 503-641-7200 / 800-255-1470, ext. 4; membership@orcpa.org.

Strategic Leadership Forum (1 ½ days),

Tuesday-Wednesday, May 2-3

This adjoining event is designed to enhance the skills of OSCPA Volunteer Leaders and is also open to any member who wants to build their leadership skills. (Annual meeting included.)

• Registration fee: $349 per person

• Select option choices, plus add-on: “General registrant, Tues. & Wed.”

• Includes Tues. breakfast, lunch and social/dinner/ evening entertainment, and Wednesday breakfast.

Strategic Leadership Forum & OSCPA Annual Meeting

A Conversation with Tracy M. Allen, CPA

2023-24 OSCPA Chair

Partner, Aldrich CPAs + Advisors LLP, Lake Oswego

Accounting Connect: Tracy, you have been an OSCPA member since you started out in the profession. Can you tell us how you originally got involved? Did someone encourage you?

It’s actually kind of funny. I tell this story often. I was essentially volunteered by my manager. He pulled me into his office and said, “Sherri at the OSCPA called and they need somebody on a committee. I told them you’d be there tomorrow at four.” And so that was how my tenure with the OSCPA started. As a new staff person, I didn’t feel I could say no to my manager. I didn’t even know what the OSCPA was, but I showed up at four, fell in love, and have stayed ever since.

That’s a great story. How then did you become involved in the OSCPA Board of Directors, which is an even deeper commitment?

This is actually my second term on the board. The first was a few years back. As a young professional I realized OSCPA was a great network for me. Walking into that first committee back in my early twenties, I was by far the youngest member of that committee. In fact, I think I was the only person who hadn’t been on the committee more than maybe 15 years. It was a little intimidating to be honest. But I also felt instantly welcomed. They wrapped their arms around me as the younger professional and helped me learn quickly about the OSCPA, the benefit of the organization, what the committee does, and the importance of that committee. And it helped me see pretty quickly how this was a way to give back to the profession that gives to me, and how being involved in the OSCPA can have an impact on the profession. Over the years I served on that committee. In fact, I’m still on that committee. I’ve been on other committees and in other positions, and I just felt like I wanted to take that involvement to a different level. So, the

first time I was nominated to be on the board, I jumped at the chance to have a more impactful position at the OSCPA and to help the association.

How do you handle priorities to avoid overcommitment?

I definitely overcommit myself sometimes, but I’ve also learned over the years to spend time where I’m passionate, because there are only so many hours in the day. I’ve really cut back over the years. I focus on the two to three things I’m passionate about, and that’s where I try to spend my time. I don’t want to be spread so thin that I can’t have an impact.

With that in mind, what does a typical day look like for you?

I get this question a lot, especially interviewing young professionals. There is no typical day. I think it’s generally a combination of the same things. It’s just some days might be more heavily weighted toward some of those activities more than others. For me, that would be client service, spending time with my clients, helping them, advising them, being present in meetings with them. It might be leadership here internally at my firm. I might be spending time with our staff and coaching or training them. It really varies every day. There’s a lot of movement. I don’t sit still very often, and I think that’s a common misconception about CPAs – that we just stay at our office. I’m very rarely in my office.

What are some other misconceptions about CPAs?

Probably the most common stereotypes are that we’re number crunchers and that we sit behind a desk with our computer or calculator, and don’t interact with people. I would say that is completely false whether you’re in industry or in public. A lot of our job is interacting with people. On the public side, it’s obviously interacting with our clients, serving our clients. It’s

truly relationship based. And on the industry side, if you’re in accounting, you’re serving operations. Oftentimes you’re the one who’s helping the company from that standpoint and serving the people that are out in the field and you’re that relationship link. That’s a huge misconception that we only crunch numbers. When you’re a staff accountant, you may be more in the technical piece of the job, but I think most accountants find that as you advance your career over time, your job is very much people based.

Would you say your favorite part is that interaction with clients?

Absolutely. I might not have said that as a twentysomething. In college I discovered I’m pretty good at math and accounting is not necessarily high-level math. It’s really a lot of algebra, solving for X, and problem solving. And I realized how much I really enjoy that. But I quickly learned there is so much more to this profession. Whether it’s internally with people here at my firm, externally with our clients, or interacting with other CPAs and the OSCPA, what I absolutely enjoy most is the people aspect and serving people in all sorts of capacities.

Was that surprising to you?

I don’t know if surprising is the word, but it was not necessarily expected. I didn’t realize that side of the profession. To me, a CPA is synonymous with a trusted advisor, whether that’s public or industry. It really is relationship based and it’s about helping people, and I think it’s incredibly rewarding.

Part of what motivates me and excites me about this job is I see my job so far beyond just “here’s your tax return” or “here’s your audit or your numbers.” As CPAs, we can impact people’s lives and be really trusted beyond just their numbers. I mean, our clients call us for all sorts of things that have sometimes nothing to do with accounting, but rather, per-

sonal matters that you wouldn’t expect. You almost become a counselor in some ways. It’s amazing how deep we can go into people’s lives and not even realize the impact we have on them.

In Oregon there are so many small businesses; people’s businesses are tied to their families and their livelihoods. You’re really walking alongside people through their lives.

To your point, we have very few large public companies here in Oregon, and the majority of businesses are privately held companies. Some of those are very small, some of those are larger, but they’re privately held by families and individuals. And you do end up walking through their lives. I had a business that lost their owner last February, very unexpectedly in his 50s. I’ve been helping his wife, who had never been in the business a day in her life. Now she’s a widow at 50 and her kids are still in college. She has so many questions: How do I figure out how to keep this company running? How do I sell this company? How do I close my estate? All these things that we’ve walked alongside her to help her figure out the next steps. It’s these things that you don’t think about when you come into this profession.

There are so many changes looming in the profession, and yet 10 and 20 years ago people were saying the same thing – that there were many changes looming. What do you feel is the biggest challenge for the profession and then also for OSCPA?

I do think certain personalities are drawn to certain professions, and often accountants don’t want to deal with change. And yet change is part of life. We must adapt and grow. One of the biggest challenges, whether it’s here in Oregon or at the national level, is the pipeline. I’m going to give an example of one of our younger staff who came out of OSU; he said his friends were making fun of him in college for going into accounting. Like, why would you do that? So, I think it’s one of our biggest challenges, but also one of our biggest opportunities.

We’re still seen throughout the nation as trusted advisors. When you look at professions and the trust they place in people, CPA is almost always number one or two. Even with technology coming, even with the pipeline shrinking, it’s a huge opportunity to adapt. I don’t think our jobs are going away. I think they’ll be different. I think that maybe the way we’ve audited previously or the way we’ve done tax returns will be more automated. But I also think that’s an opportunity for us to step to even higher levels. We’re not going to be down in the weeds, taking in tiny numbers and doing the blocking and

2022 AICPA & CPA/SEA Leadership Conference - from left, Barry Melancon, Tracy Allen, Okorie Ramsey, and Sherri McPherson

tackling. Our technology can do that for us, and that gives us the ability to really go deep with advisory roles and other services our clients need and want and are craving.

Speaking of the pipeline and professional growth, we’ve talked about your own experiences serving in OSCPA, and how it has been tied to your career development. How would you explain to students what the OSCPA is and what it does for you?

I’ve spent a lot of hours volunteering in various positions, but what I’ve gotten back in dividends is tenfold. The value of the OSCPA is many things. It’s the advocacy, making sure our profession and clients are protected in Salem and in Congress. It’s building a network of peers. And I’ve had other CPAs say, why would you do that? How does that help you? And I thought, well, it helps me all the time. Maybe I have a technical question that I’m not able to answer on my own. I have a whole network of peers to reach out to. The other day I was asked if I do forensic accounting. I said, no, but I know someone who does.

Like I said, as a young professional, OSCPA helped me learn about professionalism, and gain confidence in how to be in a room and how to interact. Depending on personality, when you’re younger it can be intimidating, especially if you’re shy and everybody else on the committee is older. When I started with that first committee, I presented a lot, gained confidence and became more comfortable speaking up. So I would say it’s that ability early on to learn to network, learn to be confi-

dent, learn to present—all those things that grow with you in your career. And OSCPA is a safe and welcoming environment to do it in.

That’s true. It is a safe place to grow skills. As you started then working towards the chair position, did your insights on that change or did you see things differently?

Early in my career, my perspective was very Oregon-focused. And as you move through those chair positions you get involved at the national level, and you see how what’s happening statewide connects with the national. We see where we need to align, or maybe where we need to go our own way and put a stake in the ground for Oregon. Being on the board and in the chair positions, I think what was also affirmed is how wonderful the staff are at the OSCPA and how much they do for our profession. Sometimes as members we take that for granted. When you go through the chairs you realize, oh my gosh, the staff carry a huge load on our behalf.

The other thing I’d add is for someone starting out, OSCPA is what you make of it. If you’re a member you can take CPE once in a while or scroll through the magazine, but it can be so much more. And as a young professional, you have the ability to really make an impact on the profession. To get the most out of your membership, being present and being involved is what makes the difference.

That’s all good advice. What other advice would you offer young professionals? Is there something you would have done differently or something you would pass along?

To be honest, in my 20s, I didn’t know where this profession would take me. I needed to get my first job and pay back my school debt. Looking back, I didn’t realize that the opportunities as a CPA are endless. It’s a springboard for your career in any direction you want to go. There aren’t many jobs where you can reinvent yourself every couple of years. Accounting is one of those. It’s a great place for people who are passionate or love to learn. There are so many directions you can go. I

Tracy in India last June with part of the Aldrich audit team.

Tracy and family taking in Van Gogh.

had no idea when I was 21 years old entering accounting that there are literally endless pathways to choose your own adventure. So my advice is to look for a company that aligns with you personally and broaden your horizon to all the different places this career can take you.

It’s so great to hear your insights on these issues that you’ve developed over your career. We did touch a bit on the subject of balance. Outside of your career, is there anything you do to relax and unwind?

I’m someone who doesn’t sit still very easily, so I’ve done a lot of different things over the years to unwind and relax. Obviously, one is family. I love to spend time with my husband and teenagers. There’s also time alone. Over the years I’ve done running, weightlifting, sometimes I sit with a good book, sometimes it’s gardening, or cooking. It literally varies all the time.

Do you have anything that you are reading or watching right now, or podcasts you’re listening to?

I love historical fiction and nonfiction, so I’ve been listening to Noble Blood, which looks at different noble families from around the world throughout history. I’ve also been listening to This American Life, and then when I want a feel-good one, I love StoryCorps. They’re a nonprofit that goes around recording people’s stories, and then they put them into a theme. On Valentine’s Day, they might have people who’ve been married 50 years talking about their spouse for example. And then I’d say what I’m watching depends on my kids because they’re teenagers. I’ve got a sophomore daughter and a senior son, and I’ll take any time I can get with them. If they’re watching something and ask me to sit down for two hours and be with them, I’m all in.

It’s been so great to talk with you today, Tracy. We just have one last question, what would people be surprised to know about you?

I don’t know if it’d be a surprise to people who know me, but I guess I’d say that I’m kind of a small-town tomboy at heart. I grew up in Idaho. I’m not afraid to get my hands dirty. I’m not afraid to try anything. Jump in with both feet. Again, I don’t know if that’s a surprise, but I’m pretty much not afraid to try anything once. I like adventure and I do thrive under pressure.

Thank you so much for sharing your thoughts, Tracy, and for all you do for OSCPA and the profession. You are so greatly appreciated. Is there anything you wanted to add before we sign off?

I’m thankful for the opportunity to be chair of OSCPA. I’m passionate about our younger professionals and getting them involved. My hope is that as chair I’ll be able to move the needle and bring people in because I think it’s a tremendous profession. I think the OSCPA is great at what they do and in advocating for us as members. I’d love to see that continue on to the next generation.

And whether it’s in my career here, in my firm, or at the OSCPA, I feel strongly that you can’t move up and grow unless you bring somebody along behind you. Until you teach somebody how to do your job, you can’t do the next job. So, my job as chair is to not only help the chair-elect and vice chair, but to help the younger professionals learn to be better volunteers and take on more. Because then I can go on to the next thing that is needed.

Tracy loves spending time outdoors with her family: “I’m pretty much not afraid to try anything once.”

Member Spotlights

The CPA credential opens a variety of doors! Read about your fellow CPAs’ unique professional journeys at www.orcpa.org/my-oscpa/memberspotlights.

Chris Dahlvig

After 20 years in the not-for-profit sector, Chris Dahlvig joined the faculty of Linfield University.

Cass Hausserman

Years later, Cass Hausserman is still glad she worked to earn her CPA credential and loves the autonomy it gives her.

Jessica Ilievski

Prior to going back to school to pursue her degree in accounting, Jessica Ilievski worked for the Department of Homeland Security as an Explosive Detection Canine Handler.

Ryan McClung

Ryan McClung applies the various CPA skills and technical expertise in his everyday practice to assist his clients.

Ruth Okenye

How Ruth Okenye’s brother affected her career and why she had no question about the path she’s taken.

Katie Sheffield

Katie Sheffield achieved her dream of becoming the first in her family to have a college degree.

Daniel Wardle

Learn why Daniel Wardle thinks earning the CPA credential is one of the most valuable accreditations in business.

Daniel Whitmore

Hear what advice Daniel Whitmore would give to new CPAs.

Get involved

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Strategic Committees

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Other Ways to Get Involved

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Key changes and planning opportunities under SECURE 2.0 Act

By Jon Gannon, CFP®, Vista Capital Partners

Signed into law December of 2022, the Setting Every Community Up for Retirement Enhancement (SECURE) 2.0 Act—the expanded version of the SECURE Act of 2019— makes nearly 100 changes to retirement plans.

While a comprehensive summary of SECURE 2.0 is beyond the scope of this article, we’d like to highlight several key changes and planning opportunities under SECURE 2.0.

In addition, we’ll share some of the most frequently asked questions concerning SECURE 2.0 we’re hearing in the financial planning industry.

The RMD age change: An opportunity to save One of the biggest changes under SECURE 2.0 is the increase in age at which required minimum distributions (RMDs) must begin.

Under SECURE 2.0, those born between 1951 and 1959 must now take their RMD at age 73 (rather than at age 72), while those born in 1960 or later do not have to begin RMDs until age 75.

Individuals turning 72 in 2023 can now hold off on taking

their first RMD until December 31, 2024. (Technically, that first RMD could be delayed until April 1, 2025, but that would mean doubling up RMDs that year.)

The benefits: The revised RMD age is especially beneficial for those over age 72 who are still working and who don’t yet need to tap into their savings to fund their lifestyle. The age change also allows individuals more time to benefit from tax-deferred growth, which potentially means a larger nest egg down the road.

Beware the double-edged tax sword

In our experience, most (if not all) clients turning 72 this year feel they are “off the hook” until next year and are excited at the prospect of lower taxes. This, however, is a double-edged sword.

When RMDs are forced into a shorter window of time (that is, fewer years a person is required to take distributions), annual distributions will be larger. With the market off to a solid start this year, those retirement accounts could very well grow even more (we hope!), pushing more pre-tax dollars into higher tax brackets.

Enter the tax-free Roth IRA

Given this scenario, we’ve had the opportunity to speak with clients about the potential benefit of converting some of those pre-tax IRA dollars to a tax-free Roth IRA. At the same time, we find some clients may benefit from taking income from their portfolio to supplement expenses, blending distributions from retirement/taxable accounts earlier on.

These conversations are similar to those we had back in 2020 when RMDs were temporarily “paused” due to the pandemic. At the time, we were able to offer clients an opportunity to forego their (would-be) RMD and instead convert that amount to a Roth IRA.

How converting pre-tax IRA dollars to a tax-free Roth IRA can be beneficial: Recently, we collaborated with a client and their CPA to discuss how the RMD age pushback under SECURE 2.0 would allow the client to convert nearly $90,000 to a Roth IRA this year—roughly the RMD amount we were planning on prior to the passage of SECURE 2.0. Being mindful of the income-related monthly adjusted amount (IRMAA) and not indirectly driving capital gains (along with qualified dividends) into higher capital gains brackets, the client agreed this was a solid strategy to potentially help smooth out their effective tax rate and (likely) lower total taxes paid over their lifetime.

No change to the QCD age requirement

Although SECURE 2.0 changed the age at which RMDs must begin, it made no change to when Qualified Charitable Distributions (QCDs) may begin. This remains age 70 ½ for up to $100,000 a year from an IRA, but with the dollar amount in future years now being indexed to inflation.

This can be a great strategy for those who are charitably inclined and not expecting to itemize their taxes. Under SECURE 2.0, taxpayers now have a longer window to reduce IRA balances and lower future RMDs through charitable giving.

A “super catch-up” retirement plan provision

Under SECURE 2.0, beginning in 2025, employed people ages 60 to 63 can contribute the greater of $10,000, adjusted hereafter for inflation, or 150% of the standard age 50+ catchup (currently $7,500) to their employer plans. This represents an additional $10,000 (excluding inflation adjustments) eligible to be saved to retirement plan accounts.

This “super catch-up” provision applies to 401(k), 403(b), and most government 457 plans.

Additionally, starting in 2024, those earning $145,000 or more in wages in the prior year are required to direct any catch-up contributions to an after-tax Roth account.

While these high-income earners will no longer receive a tax deduction for their catch-up contributions, it is better to have retirement dollars saved in a Roth than in a brokerage account since assets in a Roth account grow tax-free for life whereas assets in a brokerage account are subject to taxes on income and capital gains.

The “Rothification” restriction language refers to wages paid in the preceding calendar year from the “employer sponsoring plan.” So, it appears that if someone changes jobs, they might be eligible to make pre-tax catch-up contributions to the new employer’s plan (so long as income from new employer is less than $145,000).

It also appears that self-employed individuals (e.g., sole proprietors and partners) would continue to be able to make pre-tax catch-up contributions, even if income from self-employment is greater than $145,000.

Although 401(k) plans can include a Roth option, they aren’t required to do so. The employer plan must include a Roth option so that people who earn over $145,000 can make a catch-up contribution.

529 to Roth rollovers

Effective in 2024, unused 529 balances can be rolled into a Roth IRA with some stipulations:

• The Roth IRA receiving the funds must be in the same name of the beneficiary of the 529 plan.

• The 529 plan must have been maintained for 15+ years, though it’s currently unclear how a change in beneficiary will be treated. Will it reset the 15-year clock, for instance?

• Any contributions to the 529 plan within the last 5 years (and earnings on those contributions) are ineligible to be moved.

• Balances rolled into the Roth are subject to the IRA contribution limit for the year (no doubling up with funds from outside the 529 plan).

• Account owners must have compensation/earned income but are not subject to income limitations as with standard Roth IRA contributions.

• The maximum lifetime amount that can be moved from a 529 to a Roth is $35,000.

Prior to the passing of SECURE 2.0, an account owner only had two options for unused 529 funds: transfer the balance to another family member, or withdraw the balance and pay taxes on any investment earnings plus a 10% penalty. These new rules provide account owners another option for an overfunded 529 account and could become an interesting estate and retirement planning opportunity for parents or grandparents looking to kick-start a child’s retirement savings.

Most-requested information about SECURE 2.0 Act

In addition to the material already covered in this article, here are some frequently asked questions related to SECURE 2.0 Act.

I’ve already begun taking RMDs. Am I impacted?

No. Individuals who turned 72 on or before December 31, 2022, are not affected by these changes and must continue taking RMDs as scheduled. If you were required to start RMDs in 2022 because you turned 72, you still must take your 2023 RMD. Those who delayed taking last year’s RMD must satisfy that amount by April 1 this year, along with this year’s RMD, before the end of 2023.

I turn 72 this year and already took a withdrawal. Can I re-deposit those funds into my IRA?

Because you qualify to begin taking RMDs when you turn 73 in 2024, any withdrawal made in 2023 is not considered an RMD. You can follow the rules for 60-day rollovers, which

allow you once per rolling 12-month period to redeposit a withdrawal (including any withheld taxes) back into the IRA within a 60-day window to avoid having the distribution be subject to taxes.

What changes are in store for employers and business owners?

Starting this year, SIMPLE and SEP IRAs for businesses of any size can now offer tax-free Roth accounts. Additionally, all employer plans can now allow an employer match in the form of a vested Roth contribution (taxable to the employee in the year of the match).

Sole proprietors and/or single-member LLCs also can now establish and fund a Solo 401(k) with deferrals for a previous tax year up to the April tax filing deadline. Previously, this was limited to certain SEP IRA and other employee-funded plans.

Have the rules for inherited IRAs changed?

No. The rules governing the calculation and timing of amounts required to be withdrawn from inherited IRAs remain the same.

About the author

Jon Gannon, CFP®, is Director of Financial Planning and Partner at Vista Capital Partners, a registered investment advisory firm in Portland, Oregon. Vista Capital Partners is a wealth management firm in Portland, Oregon, serving clients with $3 million or more to invest. Learn more at www.vistacp.com.

You can learn more from Vista Capital Partners when Rob Greenman and OSCPA member Vanessa DeHaan speak at the Financial & Retirement Planning Conference November 8, 2023 in Beaverton: www.orcpa.org/ cpe/11114 or online: www. orcpa.org/cpe/W79819.

Selling an accounting practice is a once-in-a-lifetime experience for most practice owners. Because it is such a rare event, sellers need to be aware of the key misconceptions about the process.

Misconception #1 “The seller needs to stay around for months or years to assist the buyer in the transition.”

Experience with countless practice sales has shown us that a shorter transition, typically no longer than two or three weeks, is much more effective for both parties. One reason for this is that the seller is not needed nearly as much to help as intuition tells us. In fact, the seller can even be a hindrance to the transition if he or she is around for long after the buyer takes over the practice. It is a common belief that the best scenario is for the seller to engage in extended and/or repeated meetings between the buyer and the clients. However, experienced buyers know that the tendency in such meetings is for the former owner and client to do all the talking and for the buyer to be an outsider. Similarly, if the seller stays around the office, clients will want to talk to the seller rather than to the new buyer. However, if the buyer meets the clients without the seller, there will be a better chance for the buyer to get to know the clients and to establish good relationships. The only way to avoid the issues of a long transition completely is to get the seller out of the office and preferably out of town.

Another reason it does not work to have the seller stay on for an extended transition is that there is not sufficient work or money to go around. In the typical sale of a small to medium sized practice, the buyer wants to retain all the staff. The buyer is energetic, hardworking and fully capable of stepping into the

Misconceptions of selling an accounting practice

By Sherif Boctor, Accounting Practice Sales II

shoes of the seller and doing all of the work the seller has been doing. This leaves nothing for the seller to do. Worse yet, there is no money to pay the seller for his or her work. Money which had gone solely to the seller in the past now must be used to pay the seller, pay the buyer AND service the debt.

The seller has one big job and one little job. The big job is to quit. The little job is to notify the clients of the retirement and to introduce someone new who will be taking over. The former owner should endorse the new owner as a wonderful accountant with whom the clients will enjoy working and then leave the buyer alone to service them.

Misconception #2 “The best buyer for an accounting practice is another accounting firm.”

It is true that many accounting firms see themselves as willing to purchase another practice and often seek such acquisitions. However, in many instances, an existing firm is not the ideal buyer of a practice. This is true for a couple of reasons. First, existing firms often do not have the time to take on another practice. In a typical sale situation, the seller is ready to retire. The buyer must be willing to assume the workload of an experienced owner as well as do all the extra things involved in a transition. A typical buying firm does not have such an individual available who can fill the shoes of the seller.

This lack of time ties into the second reason why firms are sometimes not the best buyers for practices. Firms are often only marginally motivated to buy a practice. Of course, all firms are motivated if a seller offers generous terms and agrees to continue working at a reduced rate of pay. Compare this to a potential buyer who is an individual with several years of experience who has dreamed of owning a practice. That buyer

brings to the table the willingness to devote much time and energy to taking over the workload and making the practice work. Such an individual is much more motivated than the typical firm buyer.

Misconception #3 “The average selling price for practices determines the value of a specific practice.”

Practice owners often ask, what are practices selling for? But knowing the average selling price for accounting practices nationwide can be misleading. Assume that a person lives in Chicago and has a house to sell. Would that homeowner go to a real estate source and inquire as to the average selling price for houses in Chicago? Would he or she be interested in the average sales price per square foot for all houses in Chicago? This information would be useless. Averages such as that tell nothing important about the value of a specific house in its specific location. The same is true of accounting practices. While accountants might have the perception that practices sell for around one times annual gross, the reality is that in some locations such a price would be too high and in other locations too low. When considering the value of a practice realize it has many unique characteristics including location, client mix, staffing, profitability, and others. These specific qualities of a practice must be addressed to determine value, not averages.

Misconception #4 “Accounting practices have some intrinsic value which all potential buyers recognize, and with which all agree.”

If one is selling a gallon of gasoline this might be true. But most people need gasoline, purchase it regularly and have a good idea of what it costs. This is not true of accounting practices. Many people in the world would not purchase a practice if it were offered to them for a dollar. In a metropolitan area of millions, there might only be a couple of hundred potential buyers for a particular practice. In other areas, there might be considerably less.

Suppose there are one hundred interested, potential buyers for a specific practice. Would all these buyers agree as to what it was worth? Of course not! They would not come close to agreement. If a practice is offered at a certain price, all potential buyers might step up to the plate with check in hand. On the other hand, it could be priced where only one or two would agree to purchase. This is because buyers have

quite different ideas as to value and possess different degrees of motivation and interest. Sometimes a seller turns away a very motivated and capable buyer because, for one reason or another, the seller decides the buyer is not quite perfect. His or her misconception is that there are many buyers and that all buyers are equally motivated and equally willing to pay some known price. That misconception could be costly.

This same misconception comes into play when sellers think that the only trick is finding a buyer. Practice owners routinely say, oh, I have a buyer, or I have someone interested in buying my practice. The implication is that finding a buyer is the hard part. Their assumption, again, is that all buyers are fully willing to pay the same price and terms. If an owner has a buyer, it is possible, he or she has the one willing to pay the best price and terms, but that is highly improbable. Just as likely he or she might have found the one willing to pay the least. The object in selling a practice (unlike in selling gasoline) is to first locate all potential buyers for the practice and from that group determine the top five or ten percent in terms of motivation and ability. It is from this group one must find the buyer if one is interested in finding the true value of the firm.

Disclaimer

The author does not provide tax, legal, or accounting advice. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Readers should consult their own tax, legal, and accounting advisors before engaging in any transaction.

About the author

Sherif Boctor, is the President of Accounting Practice Sales II, Inc. (APS), a national sales and marketing firm specializing in the Sales and Acquisitions of CPA, accounting, audit, and related practices. Prior to becoming President of APS, Sherif was the founder and managing partner of a regional firm in Northern California for 23 years. To contact, email Sherif@aps.net.

While accountants might have the perception that practices sell for around one times annual gross, the reality is that in some locations such a price would be too high and in other locations too low.

Improving your technology stack

By Randolph P. Johnston, MCS, K2 Enterprises

As technology evolves rapidly, are you wisely helping your business choose the best option? Are you able to stay up with the choices in the market? And how do you know you aren’t falling for a professional sales pitch? In this article, you will learn about approaches to discover new cost-effective solutions in the market.

What is a stack?

To begin, let us define “stack.” Your stack is the collective choice of technologies you have made to run your business or home. You might use the Microsoft Windows, Apple, or Google ecosystems as your starting point. From there, you have probably chosen productivity applications, for example, Microsoft 365, Google Workspace, or Zoho One. After that, you have chosen line-of-business or accounting software to meet your needs. For example, if you decided on Sage Intacct for accounting, you may have added BILL for accounts payable, Workforce Go! HCM™ for payroll, and MISys for manufacturing. Sage Intacct, BILL, Workforce Go!, and MISys would be your “stack” for accounting. You can build stacks for various platforms such as QuickBooks Online, Xero, Acumatica, and other accounting systems. Likewise, CPA firms will almost certainly have to create stacks even if they choose the suite approach with Wolters Kluwer or Thomson Reuters for most line-of-business applications. Many organizations are running on outdated stacks, costing time efficiency, excess money, and decreasing effectiveness. What is the right stack for your business that is an optimal solution?

Can you name all the tools in your stack?

You probably manage budgets for your technology expenses. You have recurring costs and discretionary spending for tech-

nology. What are the suitable projects for your discretionary projects, and what recurring fees can you optimize? First, consider an inventory of all applications and look to reduce and eliminate unneeded subscriptions, which may have expanded through COVID-19 and remained. Why have subscriptions to Zoom, Teams, and GoTo (the new brand of Meetings, Connect, Webinar, and other tools) when one is sufficient? Why have full subscriptions to the productivity platforms if only email is needed for some employees? Second, once you have your inventory of applications under control, consider the renewal cycle, terms, and value provided. What products are candidates for replacement or unreasonably priced where a viable alternative exists? Third, specify the improvements you would like to see in your stack. Fourth, you are ready for the big step, reviewing options in the market, completing demonstrations, contracting for new products, planning the implementations, converting the data, training your team, and deploying the latest tools in your stack. If I had counted these separately, you would have had ten steps instead of four. But you would wind up with a better and likely lower-cost stack.

How do I find the best stack options?

This process will take some work, but your organization should see benefits from effectiveness, efficiency, and the correct costs when you are done. So how do you discover these solutions? While there are more options, consider these five approaches: 1) Peer recommendations within your industry or association, 2) educational events, such as the K2 Technology Conference from the Oregon Society, 3) anonymous web search analyzing reviews, 4) vendor conferences for your primary applications assuming that you’ll find sponsors and other users to discuss solutions, and 5) consulting partner rec-

ommendations. You have an application-rich environment to spot new stack options in the Oregon Technology Conference on June 15-16, with sessions like Tech Update, CPA Firm Update, Now Is The Time To Automate!, Collaboration –Portals, Payments, And Signatures, Accounting Solutions And Add-Ons For Small Businesses, Accounting Solutions: MidMarket, Simplifying And Economizing Your Tech Stack, and Kicking It Up A Notch With KPIs.

Upgrading your technology stack involves more than maintaining the status quo and updating hardware, communication lines, and versions of applications. The discovery process above will help you make both evolutionary and revolutionary changes to the technology your business uses.

Leveraging the technology you already own

All organizations should invest in training on the technology they own and anything newly acquired. Initial acquisition and recurring fees are only a portion of the costs to your organization. Consider the fees of external contracting and consulting for training. Further, consider the costs of learning new techniques and change management. Likewise, consider the cost of ignorance and lack of learning in your organization. The Pareto principle, also known as the 80/20 rule, doesn’t apply particularly well to technology. The maximum benefit might occur from the 20% you didn’t know or implement. If you have 80% of a system in use, you are still doing other work manually or supported with technology like Excel spreadsheets, which are error-prone and time-consuming.

You can eliminate repetitive and boring processes by getting more automated reporting and using the new no-code or low-code products. If you are interested in an ROI on your technology, you must invest the time and effort in training. A simple question for you may help with assessing your organization. So, how much formal training have you had in word

processing, email, spreadsheets, and presentations? How much time do you spend answering emails or presenting financial information to others? Do you have the preparation highly automated? Would time savings in these areas benefit you? How about others in your organization?

Summary

Technology options are expanding more rapidly than ever. Could you remove or add tools to your stack that would benefit everyone? What can you do to eliminate unnecessary work and optimize work for everyone? If you follow the steps above, you can identify opportunities to improve your firm’s operation and potentially benefit your home also. My mission for decades has been to help as many people as possible use technology in the way that benefits them the most. If you optimize your technology stack, you will get notable benefits quickly.

Hear more from Randy Johnston when he speaks at the OSCPA Technology Conference with K2 Enterprises June 15-16, 2023. This virtual conference has 16 hours of fast-paced presentations designed to maximize your time and enhance your learning. Nationally recognized speakers will share their knowledge to help you do your job with efficiency and ease. Receive helpful tips and advanced techniques, along with the tools and skills necessary to keep up with the ever-increasing pace of technological change.

About the author

Randy is one of the shareholders of K2 Enterprises, where he focuses on product reviews and developing technology strategies for K2 events. In addition, he is a consultant and advisor for technology companies and businesses, including CPA firms. You may reach him at randy@k2e.com.

Interested in learning more about technology? Hear more from Randy Johnston at the Technology Conference with K2 Enterprises. This virtual two-day event will be June 15-16, 2023. To learn more and register visit https://www.orcpa.org/cpe/W79813.

InfoBites in 2023

InfoBites is an easy way to build your skills and earn free CPE. Details on the full 2023 InfoBites series is coming soon! Meanwhile, register now for the May 30, 2023 program on Data Analytics.

All InfoBites programs are livestream webcasts from 12:001:00 p.m., giving you the flexibility to attend from anywhere across the state.

Data Analytics (1 hour - morning) - NEW! - Webcast

• May 30, 2023

Member Fee: Complimentary

Nonmember Fee: $20

Register: www.orcpa.org/cpe/W80333

Questions? Contact OSCPA at 503-641-7200 / 800-255-1470, ext. 4; membership@orcpa.org

Accounting Connect magazine is now digital-only

Read the flipbook at: www.orcpa.org/AccountingConnect.

Need assistance or a photocopy? Contact communications@orcpa.org

Memorial Day & Independence Holiday

The Society office will be closed for Memorial Day on Monday, May 29, 2023, and on Monday, July 3 and Tuesday, July 4, 2023 for Independence Day.

Learn more about your member benefits

Hello members! I’m Josh Paul, your new Membership Coordinator at the OSCPA. My role is to ensure that you are getting the most from the services and benefits offered through the Society. I am here to help you navigate your way around the website, answer questions about member benefits, and help you get involved!

If you have any questions about events, networking, how to better reach potential clients, or would like information on joining one of our committees, explore member benefits at www.orcpa.org/my-oscpa/benefits.

Prefer an in-person chat? I’d be happy to schedule a quick video call at a time that fits your schedule! I can be reached at 503-597-5476 / 800-255-1470, ext. 116; jpaul@orcpa.org.

Take a free practice exam!

Surgent CPA Review Mock Exams

Are you ready to pass the Uniform CPA Examination? Are you focusing on the right material? There’s only one way to find out – give it a try! Participate in a members-only, live 4-hour mock CPA Exam workshop hosted by OSCPA and Surgent CPA Review.

Key benefits

• Experience what it’s like to sit for a section of the CPA exam

• Practice questions pulled from the actual CPA Exam Blueprints

• Leave each session with a personalized ReadySCORE™ (an accurate measurement of your actual exam score) for the exam section, plus a detailed strengths & weaknesses report

Four opportunities to practice

Take any or all!

• Thursday, June 1, 2023 - #C23003

• Thursday, September 14, 2023 - #C23004

• Wednesday, November 8, 2023 - #C23005

• Wednesday, February 7, 2024 - #C23006

All workshops are 12:00-4:30 p.m.

OSCPA mailing address change

OSCPA no longer has a post office box. Please address all mail to:

10206 SW Laurel Street, Beaverton, OR 97005-3209

Advanced registration is required, and and your email address will be used to set up your simulation on Surgent’s software. Member Fee: Complimentary Register: www.orcpa.org/MockExam

Questions? Contact OSCPA at 503-641-7200 / 800-255-1470, ext. 4; membership@orcpa.org

2023-24 Membership renewal / Automatic dues renewal

OSCPA membership provides you with the resources you need throughout your career. Your 2023-24 annual dues renewal notices were sent out in February and were due April 1, 2023.

Stay connected: Update your profile

Recently move or have a new email address? Login to update your OSCPA profile with your current information and update your mailing and communication preferences at www.orcpa.org/my-oscpa/profile. Or email your current information to membership@orcpa.org and we’ll update your profile for you.

Update your profile: www.orcpa.org/my-oscpa/profile

Sign up for secure auto-renewal!

There’s no need to remember to pay dues when you sign up for automatic payments. Our Finance team can help you set up your automatic annual dues payment. You’ll get your notice next February and a receipt in April once your dues have been paid. It’s that easy!

Call Finance to set-up auto-renew: 503-641-7200 / 800-255-1470, opt. 7

Annual scholarship drawing with Becker

Enter a drawing to win one full, four-part scholarship (a $2,499 value) from Becker! Only OSCPA student and CPA Candidate members are eligible to enter.

Visit: www.orcpa.org/news-resources/349/article

Exploring Licensure & the CPA Exam – Replay

Each year, Oregon Board of Accountancy (BOA) and AICPA present jointly on the Oregon licensure requirements and the CPA Exam. The most recent program was recorded and is available to anyone on the CPA path! BOA explains the education requirements to sit for the Uniform CPA Exam, the experience requirements to become licensed in Oregon, and the supervising CPA’s role. AICPA reviews CPA Evolution and the expected changes to the Uniform CPA Exam launching in 2024.

Register: www.orcpa.org/Licensure-Replay

Questions? Contact OSCPA at 503-641-7200 / 800-255-1470, ext. 4; membership@orcpa.org

Celebrate the CPA profession

Celebrate the CPA profession at the annual OSCPA Circle of Excellence awards dinner, Thursday, May 11, 2023, at the DoubleTree by Hilton in Portland, Oregon.

• No-host social begins at 6:00 p.m.

• Dinner begins at 7:00 p.m.

• Awards presentation begins at 7:30 p.m.

This event honors members with milestone anniversaries, new members, newly certified CPAs, those that have passed the Uniform CPA Examination, top accounting students, and OSCPA Educational Foundation scholarship recipients.

Questions? Contact OSCPA at 503-641-7200 / 800-255-1470, ext. 4; membership@orcpa.org

Your OSCPA at a glance

As your professional community, OSCPA is with you every step of your career. It’s time to renew your membership. Here are some of the ways you benefit when you continue investing in your career as a member.

Advocacy

Each year, volunteers track numerous bills of concern to CPAs during the annual Oregon Legislative Session.

CPE

High-quality CPE in a variety of convenient and effective formats that maximize your time and educational investment.

Connections

OSCPA BridgeTM Open Forum, committee engagement, and socials.

Discounts on products and services

Office supplies, laptops, car rentals, and more.

News and resources

Timely news and resources curated to your personal interests.

Questions about your member benefits? Contact OSCPA at 503-641-7200 / 800-255-1470, ext. 4; membership@orcpa.org

2023 National Management of an Accounting Practice (MAP) Survey announced

Your firm’s participation is important for valid Oregon results!

The OSCPA is partnering with the AICPA Private Companies Practice Section (PCPS) / CPA.com to offer the 2023 National MAP Survey.

Why participate?

The MAP Survey is the largest practice management survey in the country. Biennial results are an invaluable benchmarking tool for your firm.

High participation by Oregon firms means state results. Otherwise, only regional results will be available.

Due to high firm participation in 2021, Oregon firms obtained valuable data for measuring firm performance and benchmarking to other same-sized firms in Oregon, as well as regionally and nationally.

How to participate:

Survey participation information will be emailed to Oregon firms; the survey will open in June.

Questions? Contact Leslie Konst, Director, Communications, 503-597-5478 / 800-255-1470, ext. 112; lkonst@orcpa.org.

New CPE catalog, new courses, more options!

OSCPA brings you high-quality CPE in a variety of convenient and effective formats that maximize your time and educational investment.

Looking for more options? Access the entire 2023-24 course schedule, including our extensive catalog of vendor-produced webcasts and webinars as a well as self-study/on-demand learning options, at www.orcpa.org/online-catalog.

Live OSCPA-Select™ seminars and conferences are curated from a variety of local and national speakers and CPE producers who are highly knowledgeable and recognized for their subject matter expertise. The comprehensive curriculum covers multiple practice and niche areas.

Annually access over 8,000 vendor webcasts and webinars.. Most are offered multiple dates and times, so choose what works best for you!

• Dip into a new topic with one or two hour courses.

• Dive deep with four or more hours of instruction, when you have the time.

An extensive selection of self-study and on-demand CPE for the ultimate at-your-fingertips convenience. See page 40 for special savings, on-demand CPE packages.

• Select single-purchase web or text-based courses or look for CPE packages for annual access and planning.

April–August 2023 OSCPA-Select™ CPE Calendar

Upcoming in-person and livestream webcast courses

Register early to secure your seat at in-person events. Can’t attend in-person? Experience OSCPA livestream events from the comfort of your home or office.

May 16 Minimum Standards for Audits of Oregon Municipal Corporations / Oregon Local Budget Law - #11127

May 16 Minimum Standards for Audits of Oregon Municipal Corporations / Oregon Local Budget LawWebcast - #W80206

$699 $849

Beaverton $305 $380

$305 $380

PROFESSIONAL DEVELOPMENT

Register: www.orcpa.org/online-catalog and enter the event number. Questions? Contact OSCPA at 503-641-7200 / 800-255-1470, ext. 3; profdev@orcpa.org.

PROFESSIONAL

Spring 2023 CFO Series: Essential skills for current and aspiring financial leaders. Designed to meet your educational needs in one convenient step!

Each topic provides a one-stop way for senior level financial managers and executives, CFOS, and those who aspire to be CFOs, to learn and take away ideas that can be implemented immediately.

Day 1: Staying Ahead in a Dynamic Economy - 6 Tech & 2 [NT]NEW! - Webcast

• May 10, 2023 - Webcast - #W80199

Day 2: Corporate Performance Management - NEW! - Webcast

• May 12, 2023 - Webcast - #W80202

Day 3: Today’s Staff Retention and Accounting - 4 Tech & 4 [NT]NEW! - Webcast

• June 12, 2023 - Webcast - #W80250

Day 4: 360 Degree Budgeting - Webcast

• June 21, 2023 - Webcast - #W80264

CPE: 32 / Level: 2 (Intermediate)

Register by April 28 and save $25.

SERIES

4 DAYS

32 HOURS

16 TOPICS

Register: www.orcpa.org/cpe-oscpa-events/events-catalog and enter the event number.

Questions: Contact OSCPA at 503-641-7200 / 800-255-1470, ext. 3; profdev@orcpa.org.

Oregon-specific ethics

required for ALL active and inactive Oregon licenses Register Today!

Oregon-specific ethics programs have been scheduled for 2023-24.

Oregon Ethics and New Developments (4 hours - morning)

• April 27, 2023 - Webcast Replay* - #W80195

• May 10, 2023 - Webcast Replay* - #W80201

• May 25, 2023 - Webcast - #W80225

• June 5, 2023 - Webcast Replay* - #W80239

• June 26, 2023 - In-person - OSCPA Center, Beaverton - #11140

• June 26, 2023 - Webcast - #W80274

• October 25, 2023 - Webcast Replay* - #W80296

• November 9, 2023 - Webcast - #W80302

• November 28, 2023 - Webcast Replay* - #W80305

• December 18, 2023 - Webcast Replay* - #W80315

• January 19, 2024 - Webcast Replay* - #W80322

Producer: Mark Hugh PLLC

*Webcast Replay Producer: ACPEN & Mark Hugh PLLC

Professional Conduct & Ethics - AICPA and Oregon Board CPA Regulatory Update by Jim Rigos (4 hours - morning)

• June 8, 2023 - In-person - OSCPA Center, Beaverton - #11132

• June 8, 2023 - Webcast - #W80246

• December 12, 2023 - Webcast - #W80311

Producer: Rigos Professional Education Programs, Ltd

Oregon Ethics for CPAs (4 hours - morning)

• June 14, 2023 - Webcast - #W80253

• November 13, 2023 - Webcast - #W80303

Producer: Surgent CPE

2023 Oregon Ethics Update (4 hours - morning)

• June 23, 2023 - Webcast - #W80271

• September 25, 2023 - Webcast - #W80290

Producer: Galasso Learning Solutions

For more information and to register: www.orcpa.org/online-catalog and enter the event number.

A variety of OSCPA-Select™

On-demand CPE gives you the flexibility you need to maximize your time. Gain access to convenient learning options at special member savings through our partnerships with Surgent CPE and AICPA.

Surgent’s Unlimited Plus CPE Package — $599* for OSCPA members

• Access to all Surgent live webinars (1,200+) to include late-breaking tax updates

• Over 250 on-demand/self-study courses

To order: www.orcpa.org/cpe/S02502

*Special member fee available through 6/16/23. Thereafter, member fee is $645.

Surgent’s Unlimited Self-Study CPE Package — $349 for OSCPA members

• Over 250 on-demand/self-study courses totaling over 1,200 CPE credit hours

• Instant online grading and immediate CPE certificates via email

To order: www.orcpa.org/cpe/S02503

AICPA Annual WebcastPass — $675 for OSCPA members

• Unlimited access to 500+ webcasts featuring top experts, regulators, agency representatives, and more

• Immediate access to certificates of completion with zero tests

• Access to archived webcasts on-demand

To order: www.orcpa.org/cpe/S02505

AICPA CPExpress — $370 OSCPA members

• Unlimited online access to over 450 quality courses

• Track and print CPE certificates in one place

To order: www.orcpa.org/cpe/S02506

2023 Virtual AHI Staff Training

AHI Associates offers quality group live staff training courses virtually!

Levels I through III focus on the theory behind audits, reviews, compilations, and financial statement preparation engagements and are designed especially for any staff who will be performing audits, reviews, compilations, or financial statement preparation engagements.

Levels IV and V are soft skills training courses that benefit both the person attending and their organization. These two courses are applicable for various accounting departments (i.e., audit, tax, consulting, and accounting services) but because these are universal leadership concepts, they are equally applicable to other professional business leaders.

AHI Semi-Senior Staff Training - Level II (4 days) - Webcast#W80197

• May 8-11, 2023 - CPE: 24 / Level: 2

(Intermediate)

AHI Beginning In-charge Staff Training - Level III (4 days)Webcast - #W80205

• May 15-18, 2023 - CPE: 24 / Level: 2

(Intermediate)

AHI Management and Leadership Essentials - Level IV [NT]Webcast - #W80334

• June 1, 2023 - CPE: 8 / Level: 2

(Intermediate)

For more information and to register, visit www.orcpa.org/online-catalog and enter event number.

2023 Spring & Summer Conferences

Not-for-Profit Conference

• April 24, 2023 - In-person - Sheraton Portland Airport Hotel, Portland - #11102

• April 24, 2023 - Webcast - #W79806

CPE: 8 / Level: 4 (Update) / Producer: OSCPA

Construction Industry Conference

• May 19, 2023 - In-person - Sheraton Portland Airport Hotel, Portland - #11103

• May 19, 2023 - Webcast - #W79807

CPE: 8 / Level: 4 (Update) / Producer: OSCPA

ERISA Conference

• May 23, 2023 - In-person, OSCPA Center, Beaverton#11104

• May 23, 2023 - Webcast - #W79808

CPE: 8 / Level: 4 (Update) / Producer: OSCPA

Farming, Ranching & Agribusiness Conference

• June 1, 2023 - In-person - OSCPA Center, Beaverton#11105

• June 1, 2023 - Webcast - #W79809

CPE: 8 / Level: 4 (Update) / Producer: OSCPA

Real Estate Conference

• June 7, 2023 - In-person - OSCPA Center, Beaverton#11106

• June 7, 2023 - Webcast - #W79810

CPE: 8 / Level: 4 (Update) / Producer: OSCPA

Estate & Trust Conference

• June 9, 2023 - In-person - Sheraton Portland Airport Hotel, Portland - #11107

• June 9, 2023 - Webcast - #W79811

CPE: 8 / Level: 4 (Update) / Producer: OSCPA

Governmental Accounting & Auditing Conference (2 days)

• June 12-13, 2023 - In-person - Best Western Premier Boulder Falls Inn, Lebanon - #11108

• June 12-13, 2023 - Webcast - #W79812

CPE: 16 / Level: 4 (Update) / Producer: OSCPA

Technology Conference with K2 Enterprises (2 days)

- Webcast

• June 15-16, 2023 - Webcast - #W79813

CPE: 16 / Level: 4 (Update) / Producer: K2 Enterprises

Accounting & Auditing Conference - 7 Tech & 1 [NT]

• June 20, 2023 - In-person - OSCPA Center, Beaverton#11109

• June 20, 2023 - Webcast - #W79814

CPE: 8 - 7 Tech & 1 [NT] / Level: 4 (Update) / Producer: OSCPA

Forest Products Conference

• June 29, 2023 - In-person - Graduate Hotel, Eugene#11110

• June 29, 2023 - Webcast - #W79815

CPE: 8 / Level: 4 (Update) / Producer: OSCPA

Register: www.orcpa.org/online-catalog and enter the event number.

Questions? Contact OSCPA at 503-641-7200 / 800-255-1470, ext. 3; profdev@orcpa.org.

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Private Practice Transitions is the preeminent provider of highly specialized business brokerage and consulting services. We work exclusively with the owners of professional practices in the financial services, healthcare, legal, and tech industries who are interested in selling or buying a private practice. The following tax and accounting practices are available now and looking for new ownership:

• #1213 - OR - $2,727,789 - Washington County

• #1214 - WA - $690,865 - Pierce County

• #1215 - CA - $2,025,548 - Fresno County

• #1216 - OR - $550,329 - Lincoln County

• #1221 - WA - $263,341 - Lewis County

$ figures are annual gross revenues. More details about these listings, and others, can be found on our website at privatepracticetransitions.com. If you are interested in discussing any of these opportunities further, call (253) 509-9224 or email info@privatepracticetransitions.com.

CONSIDERING THE SALE OR PURCHASE OF A PRIVATE PRACTICE? As the preeminent provider of business brokerage and consulting services in the Northwest, we work exclusively with owners of professional practices in the legal, healthcare, financial services and tech industries. Need to prepare your practice for sale? Looking for a business valuation? Ready to sell your practice for top dollar? Let our team guide you through this life changing transition. Call us at 253.509.9224 or visit our website to learn more about our services and top-notch team waiting to help you: PrivatePracticeTransitions.com

LUCRATIVE SOUTH PUGET SOUND TAX AND ACCOUNTING FIRM (WA 1204) For nearly 40 years, this Washington CPA firm has offered a wide range of services to both business and individual clients. The Practice has a diverse, loyal, and growing client base of ~2,236 active clients. The Practice is full-service and excels at tax preparation and planning, business advice and consulting, providing bookkeeping, accounting, and financial statements, as well as business valuation and personal financial planning. In 2022, the Practice experienced 3.21% year-over-year growth with gross revenues of $3,679,648. Additionally, the Practice has nineteen (19) staff, including the Owners who are willing to continue employment and/or provide transition assistance, if desired. To learn more, call 253.509.9224 or email info@ privatepracticetransitions.com.

HIGHLY RATED METHOW VALLEY TAX & ACCOUNTING FIRM (WA 1205) Over the past 40 years, this Washington tax and accounting firm has offered tax and bookkeeping services to both business and individual clients in Winthrop and surrounding areas. As of June 2022, the Practice has approximately ~662 active clients and has seen great client retention as is evidenced by the increase in client counts year-overyear. The Practice’s service by revenue breakdown is 72% Tax Preparation & Consulting, and 28% Bookkeeping. In 2022, the Practice brought in $680,566 in gross receipts which was a 14% YoY increase! Including the Owner, the Practice has eight (8) loyal staff members. To take advantage of this business opportunity, call 253.509.9224 or email info@privatepracticetransitions.com.

PROFITABLE SNOHOMISH COUNTY TAX & ACCOUNTING PRACTICE (WA 1210) Established in 1971, this Practice located in the Seattle Metropolitan Area has offered a wide range of tax and accounting services to both business and individual clients. In 2022, the Practice had ~1,903 clients representing 3,347 total tax returns. Over the past three (3) years, the Practice has averaged gross revenues of approximately $3,035,973 (20202022). The Practice has fifteen (15) staff including the Owners. Additionally, one owner would like to remain on as an employee post-transition, if desired by the new owner. For more information, call 253.509.9224 or email info@privatepracticetransitions.com.

PROFITABLE PORTLAND TAX & ACCOUNTING FIRM (OR 1213) Established in 1990, this tax and accounting practice located in the southwest suburbs of Portland has offered a wide range of tax services to both business and individual clients as well as audit services to housing and employee benefit clients. The Practice’s service by revenue breakdown is 40% Housing Project Audits, 35% Tax Preparation, Planning, and Consultation, 22% Benefit Plans, 2% Payroll Audits, and 1% NonHousing Audits. Including the Practice’s five (5) Partners, the Practice has seventeen (17) staff members serving its ~1,080 active clients. Over the past three (3) years, the Practice has averaged gross revenues of approximately $2,483,077 (20202022). For more information, call 253.509.9224 or email info@privatepracticetransitions.com.

SUCCESSFUL LINCOLN COUNTY TAX & ACCOUNTING PRACTICE (OR 1216) Since 2001, this Oregon tax and accounting firm has offered a wide range of services to both business and individual clients. The Practice’s service by revenue breakdown is 70% Tax Preparation and 30% Accounting & Payroll. The Practice currently has five (5) staff members serving its ~750 active clients. Over the past three (3) years, the Practice has averaged gross revenues of approximately $501,021 (2020-2022). The Practice’s success is in large part due to the dedicated staff who are highly skilled with a strong focus on customer service. For more information, call 253.509.9224 or email info@privatepracticetransitions.com.

PROFITABLE FRESNO TAX & ACCOUNTING FIRM (CA 1215) Established in 2012, this Certified Public Accounting practice has established a strong, long-term presence in the greater Fresno area. Since its inception, the Practice has offered a wide range of tax and accounting services to both business and individual clients. The Practice’s service by revenue breakdown is 35% Tax Preparation and Planning, 34% Accounting & Audits, and 31% Consulting, Forensic & Valuation. Including the Owners, the Practice has twelve (12) staff members serving its ~477 active clients. Over the past three (3) years, the Practice has averaged gross revenues of approximately $1,978,397 (20202022). To take advantage of this exciting business opportunity, call 253.509.9224 or email info@ privatepracticetransitions.com.

SUCCESSFUL PIERCE COUNTY BOOKKEEPING & TAX FIRM (WA 1214) For over 40 years, this Washington Practice has offered bookkeeping and accounting services to both business and individual clients. The Practice’s service by revenue breakdown is 65% Bookkeeping, 30% Income Tax Services, and 5% Other. As of October 2022, the Practice has ~500 total clients. Over the past three (3) years, the Practice has averaged gross revenues of approximately $621,953 (2019-2021). The Practice has five (5) loyal staff members including the Owners. With loyal staff and many word-ofmouth referrals, the Practice is poised for growth and increased revenue under new ownership. To learn more about this exciting business opportunity, call 253.509.9224 or, email info@privatepracticetransitions.com.

PURCHASE/SALE/MERGER

TAX PRACTICE – TIGARD, OREGON Retiring CPA looking for practitioner to take over her client base of 70+ tax clients. Consisting of 1040’s, 1041’s, &1120S’s. Looking for transition at end of tax season 2023. Easily portable.

OREGON SOCIETY OF CERTIFIED PUBLIC ACCOUNTANTS

10206 SW Laurel St.

Beaverton, OR 97005-3209

ADDRESS SERVICE REQUESTED

Free mental health wellness series

OSCPA is pleased to partner with CalCPA to offer the 2023 Mental Health Wellness Series, a webcast series covering a variety of important and timely topics. These webcasts are FREE to OSCPA members.

June 16, 2023

Resiliency (2 hours - afternoon) [NT] - NEW! - Webcast

CPE: 2 / Level: 4 (Update) / Webcast – #V11463

August 18, 2023

Promote Family Health (1 hour - afternoon) [NT] - NEW!Webcast

CPE: 1 / Level: 4 (Update) / Webcast – #V11464

October 20, 2023

Women and Depression (1 hour - afternoon) [NT] - NEW!Webcast

CPE: 1 / Level: 4 (Update) / Webcast – #V11465

December 15, 2023

Overcoming Burnout (1 hour - afternoon) [NT] - NEW!Webcast

CPE: 1 / Level: 4 (Update) / Webcast – #V11466

Register: Visit www.orcpa.org/online-catalog and enter the event number. Questions? Contact OSCPA at 503-641-7200 / 800-255-1470, ext. 3; profdev@orcpa.org