PASBA Newsletter » Winter 2014

WINTER 2014

TECH WAYS

TA X-SAV V Y

TO STREAMLINE SMALL BUSINESS TAX PREP

BY RENEE FELLOWS

TECH WAYS

TA X-S AV V Y

TO STREAMLINE SMALL BUSINESS TAX PREP

With Tax Season in full swing, individuals and businesses owners are turning to their smartphones and tablets to help simplify this year’s tax filings and find answers to those nagging questions. Here’s a list of some of the coolest and most useful apps on the market. Most are free or offered for a minimal fee where indicated. Of course an app can never replace the need for solid small business accounting and tax advice.

When in doubt, always contact an experienced accountant or tax advisor.

ELECTRONIC RECEIPT FILING It’s tough to keep track of all those little receipts.

Why not use the camera on your smartphone to snap a pic and store it in the cloud? Now all you have to do is access the file by name, date or category and you’re off and running for easier tax documentation. Of course, there are apps available on all device types to help you house and organize your receipts and even interface with popular accounting software programs.

Shoeboxed (ranges from $9.95–$99 a month) You send them your receipts and they scan and upload them for you.

File This Digital filing cabinet for statements, bills and documents. Will even interface with your banking institution and check for statements for you.

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ScanSnap ($194-$495, device) Not an app, but a piece of office equipment, ScanSnap is a digital scanner that can help organize all those paper receipts. The device is available in both a base model for $195 and a more robust version that syncs with Evernote organizational software for a year of premium access and storage for $495. According to reviews, “it jams less than any other scanner” making the purchase price worth the investment.

OTHER USEFUL APPS Bloomberg BNA Quick Tax Reference (free, iOS, Android, Blackberry) You don’t have to be an accountant to use this handy app. The Bloomberg BNA Quick Tax Reference app for smartphones is a rich tool for answering all those pesky tax questions and how they pertain to the tax code. As with any tax questions, for in-depth answers, it’s always best to talk with your accountant or tax advisor.

OTHER USEFUL APPS (cont’d) It’s Deductible (free) Intuit’s online app provides fair market value for donated items like clothing. Once you’ve input all of the pertinent information into the software, the data can then be uploaded to Intuit’s TurboTax or exported for your tax preparer.

IRS2Go (free) While you cannot use this app to file your taxes, it is a great resource tool for helping to find previous tax filings and checking the status of your return after it’s filed. Users can also access tax tips, videos, and other instructional documents for even more information. New features are being released for the new tax year. Check the app store for even more access to new features and information.

financial data back to your iPhone or iPad so you can access it and make better decisions. Combine Mint.com with TurboTax and you have a complete circle of banking, investments and tax information all at the ready when tax season arrives.

Expensify (free, available for iOS and Android devices) This little gem packs a lot of punch for the price. The app can accept receipt scans, integrate them into expense records and even merge with bank and credit card statements.

Slice Shopping (free, iOS) Not just another financial monitoring app, Slice Shopping is more. It can track and aggregate online shopping and charitable donations or even deductible items purchased at certain web sites.

Deductr (free, iOS) The Deductr app by Business Owners Advantage is a handy app for self-employed business owners who are trying to take the guesswork out of deducting a home based business. The app helps users maximize deductions by tracking expenses throughout the tax year. Another little hidden bonus is that the GPS enabled feature also allows the app to track mileage so you can take advantage of work-related travel.

Manilla This financial management app not only sends push notifications for bills, account statements and other reminders, but also provides an easy-to-read display for account balances, credit card accounts and even travel or Groupon account information. Want to know how many airline points you have for that next vacation? Manilla can tell you and track it for you.

Mint.com Mint.com isn’t an app, but a pretty cool website for managing personal finances. From managing multiple bank accounts, credit cards, loans and more the site provides personal

Zoho Invoice and Time Tracker (Android, free) Send invoices, track and accept payments from your clients.

Zoho offers time tracking for projects, recordkeeping for expenses, accepts credit card payments and even sends your clients a thank you note after the sale is complete.

If you plan on filing your taxes on a mobile device or even storing personal information, there are a few things you should know first. i

BUY LEGITIMATE APPS. There are literally thousands of apps available for mobile devices and not all of them are high quality. If you plan on using the app to manage bank accounts and other personal financal data, be sure that the app has encryption. Read the reviews and know what you’re buying and the limitations of the app.

SECURE YOUR DEVICE. If you plan on keeping sensitive personal information on your mobile device or tabled, it is imperative that you protect it.

Use a password that is more than four digits and make sure that all the apps have password secured access. Otherwise, limit account numbers and social security numbers used on your phone. If you are familiar with Microsoft, try the Authenticator, which provides a two-step authentication process for multiple Microsoft accounts or any third-party accounts using the same system. Google also offers an authenticator app for both Android and iOS phones.

THE CLOUD IS GREAT, BUT KEEP A BACKUP HERE ON EARTH. No matter how deeply you trust the cloud, be sure to keep a second set of back up data on a computer or removable hard drive just in case your access to the cloud is impeded.

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2014 HAS ARRIVED and we’re all gearing up for another hectic tax season. I, for one, am planning on resting easy this time around, knowing PASBA has provided me the tools to hold on to my sanity. In addition, I know I will be heading to Puerto Rico for an enjoyable PASBA Spring Marketing Conference soon after April 15!

PRESIDENT’S MESSAGE Matt Patrick

We concluded another outstanding Fall Management Conference in Atlanta last November.

A big thanks goes out to the Conference Planning Committee for their hard work in putting together such a great agenda. The Blueprint Sessions had very high attendance; thank you to all of those who volunteer to present those introductory sessions.

We also had our first installment of what will be known as Payroll University, thanks to Kelli Gift.

We are excited that this new track will run each November beginning in 2014. Ed Hastreiter provided a phenomenal general session; if you were unable to attend, please remember the videos are available for purchase on the PASBA website.

I would like to send a special thank you to Steve & Carol Ford from Business Accounting Services for hosting the Fall Conference attendees for an office visit. We appreciate their hospitality and willingness to share the successful operation they are running.

The Conference Planning Committee has switched gears quickly and planning is well

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underway for the Spring Marketing Conference that will take place at The InterContinental San Juan, Puerto Rico from May 12–15. There are already some great sessions confirmed on the agenda, including a One-Call Close Sales Presentation Role Play, breakouts focused on Lead Generation, panel discussions on Growing Your Practice & Marketing on the Internet, and the staple Wednesday Practice Size Discussions & Monday Rapid Roundtables. You don’t want to miss this conference! The room block at The InterContinental is open and ready for you to reserve; please click here to secure your room.

We have also made arrangements to hold the 2014 Fall Management Conference at The Driskill Hotel in Austin, Texas. Dates for that conference are November 17–20. Be sure to mark your calendar!

I hope to see you all in San Juan in May. The value of attending the PASBA conferences cannot be overstated. I learn something new each and every time I have the opportunity to participate. I am grateful to everyone in the association for living the motto of Teach • Share • Learn.

It is an honor to serve as your president. Here’s to a successful 2014! Cheers!

PASBA MEMBERS IN THE NEWS

MATT PATRICK PRESIDENT Patrick Accounting & Tax Services, PLLC mpatrick@patricktax.com 901.755.5858

SEAN MANNING was featured in Accounting Today in an article titled, Wake Up and Smell the Payroll: Dispelling the Myths of Payroll. Click here to read part 1 of Sean’s article and here to read part 2.

Watson & Company, Inc. barb@watsonaccounting.com 303.368.9912

Know a PASBA member in the news? We want to hear about it! Contact PASBA Central Office at director@pasba.org.

BRIAN PAULSON PRESIDENT-ELECT

WELCOME NEW PASBA MEMBERS

SHAWN BUFFALOE

The Buffaloe Group, LLC // Gainsville, GA

BILL & WILLIAM SHARPE

Total Income Tax // Peoria, IL

BARB GAY PAST PRESIDENT

CSI Accounting Services brian.paulson@csiaccounting.com 952.927.4011

JOHN ESTESS TREASURER Estess & Associates, LLC, CPAs john@estesscpa.com 504.433.5122

BRENT MOTL SECRETARY STEVEN HAMACHER

Hamacher & Associates, PLLC // Kalamazoo, MI

Charles J. Motl, CPA & Associates brent@charlesmotl.com 847.426.2100

TOM BOWMAN Bowman & Company, CPA, PC tom@bowmancpa.com 410.381.8121

CARL CORNELIUSON Corneliuson & Associates, Inc. carlc@corneliuson.net 952.920.2313

FINANCIAL REVIEW GROUP The FRG is an opportunity to have a “Board of Directors” review your financial statements and provide input on areas in your practice that you may need help with. Each member gets the “stage” for a defined time frame (typically 1-2 hours) to present their practice details and then solicit feedback from the other members on any topics they wish. Besides getting specific advice on your own practice you also get an intimate, detailed look into the other participating practices. All firms’ income statements are put on a single spreadsheet using a standard chart of accounts for ease of comparability. This is a powerful tool.

Just imagine seeing every one of your income statement numbers alongside the numbers of other successful practices. What better way to take your practice to the next level? Practice Stats participants agree to adhere to a strict code of confidentiality.

If you are interested in joining an FRG, please contact Stephanie Kimak at skimak@unifycpa.com.

FRANK FIORE Accounting Freedom, Ltd frank@accountingfreedom.com 847.949.8373

STEVE GIFT Gift & Associates steve@giftassoc.com 717.766.3555

RICH SCHWARTZ Schwartz & Associates, CPA, PC rich@rschwartzcpa.com 856.232.1111

2013-2014 PASBA BOARD OF DIRECTORS 5

2014 AWARDS & SCHOLARSHIPS AWARD NOMINATIONS The PASBA philosophy of Teach • Share • Learn has helped us develop into a thriving and sustaining organization. With this, it is important that we recognize those members who embody this philosophy to the fullest and make our group the best it can be.

The intent of these awards is not only to recognize our outstanding members, but to also offer a marketing tool for the recipients. What better marketing tool than to say you were recognized as the Accountant of the Year? The Awards Committee will choose a winner from each practice size as the PASBA Accountant of the Year and one winner as the New Member of the Year.

The committee will select winners based on member nominations, so your participation is important to the success of this program. Below is a description of each of these categories:

PASBA ACCOUNTANT OF THE YEAR This award recognizes a member in each practice size for his/her involvement in PASBA over the last year. Someone who has demonstrated the overriding PASBA beliefs of Teach ~ Share ~ Learn. This member has developed and shared innovative ideas that have proven to change and enhance the performance of their own firm and how they work with their clients. This person has shared their time, knowledge, and provided support and encouragement to their fellow PASBA members through committee involvement, conference presentations, and/or one-on-one coaching with new and current PASBA members.

NEW MEMBER OF THE YEAR This is to recognize the growth and participation of one outstanding new member who has joined PASBA within the past two years.

Members may submit more than one nomination and may nominate themselves. You can copy the form to make multiple nominations. The form is also available on the PASBA website. The Awards Committee will then review each nominee and make a final recipient selection. All award winners will be announced at our Spring Conference in San Juan during our Wednesday Association Dinner. Please contact the Central Office if you have any questions about the awards program.

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Nomination forms need to be completed and returned

by March 15, 2014. They may be submitted via mail, fax or email (information below). Click here to download the nomination forms.

ADDRESS

6405 Metcalf Avenue, Suite 503 Shawnee Mission, KS 66202 EMAIL

jbennett@dci-kansascity.com |

FAX

913.384.5112

SPIRIT AWARD Additionally, the Board will nominate and select a member to honor with the Spirit Award. This is a prestigious lifetime achievement award which will recognize a member who has consistently embodied the spirit of our organization.

SCHOLARSHIP APPLICATIONS The Professional Association of Small Business Accountants Scholarship Program awards two $500 scholarships to students pursuing a degree with an emphasis in accounting. Eligible students must be enrolled at an accredited two-year or four-year institution.

Click here to download the scholarship application. The application can also be found on the PASBA website information page or by contacting the Central Office.

Applications are due by March 15, 2014.

CONFERENCE INFORMATION AND UPCOMING EVENTS

••••••• 2014•••••••

NATIONAL TRAINING MEETING

••••••••••••••••••••• 2014 NATIONAL TRAINING MEETING ORLANDO, FLORIDA • SEPTEMBER 18-19, 2014

2014 y y y y y FALL MANAGEMENT CONFERENCE yyyyy

9 The Driskill Hotel • austin, texas 0

FALL MARKETING CONFERENCE AUSTIN, TEXAS • NOVEMBER 17-20, 2014

Rosen Shingle Creek

The Driskill Hotel

www.rosenshinglecreek.com 9939 Universal Boulevard | Orlando, Florida | 32819 ROOM RATE: $122

www.driskillhotel.com 604 Brazos Street | Austin, Texas | 78701 ROOM RATE: $239

REGIONAL MEETINGS MID-ATLANTIC REGION MEETING JUNE 20 SOUTH REGION WEBINAR MAY 2, MAY 12 CENTRAL REGION MEETING APRIL 18 FLORIDA MEETING APRIL 25

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SPRING MAR KETING CON FE R E NC E MONDAY MAY 12

8:00 am – 5:00 pm 9:00 am –12:30 pm 12:30 pm – 1:45 pm 1:00 pm – 1:30 pm 1:45 pm – 3:00 pm 2:00pm – 5:00pm 3:00pm – 3:15pm 3:15pm – 5:00pm

5:30pm – 6:30pm

TUESDAY MAY 13

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8:00 am – 9:00 am 9:00 am – 10:30 am 10:30 am – 10:45 am 10:45 am – 12:00 pm 12:00 pm – 1:30 pm 12:45 pm – 1:15 pm 1:30 pm – 2:20 pm

COnfEreNce AGenDa mAy 12-15, 2014

Registration Blueprint Sessions Welcome Luncheon FRG – Practice Stats Marketing on the Internet Panel: Websites, SEO, Google Ad Words Exhibitor Set-Up Session Break Rapid Roundtables » 5 TABLES | 5 TOPICS | 15 MINUTES ATF to Live Payroll • Mirroring/Matching/Modeling • Networking/Referral Groups Recognizing & Working with Gatekeepers • TOMA New / Prospective Member Reception

2:20 pm – 2:35 pm 2:35 pm – 3:25 pm

3:25 pm – 3:40 pm 3:40 pm – 4:30 pm

5:00 pm – 6:30 pm

Breakfast Keynote Speaker Session Break/Exhibitor Showcase Keynote Speaker Luncheon Sponsor Demonstration A: Assessing the Personality Types of Prospects B: Lead Generation: Keeping the Funnel Full Session Break/Exhibitor Showcase A: Hiring/Training Inside Marketers B: Growing Your Practice Panel Session Break/Exhibitor Showcase A: Managing Sales People B: Why Do Client Training & How It Will Benefit Your Practice Association Reception & Exhibit Showcase

WEDNESDAY MAY 14

8:00 am – 9:00 am 7:30 am – 8:45 am 9:00 am – 10:20 am 10:20 am – 10:40 am 10:40 am – 12:00 pm 12:00 pm – 1:30 pm 12:45 pm – 1:15 pm 1:30 pm – 2:50 pm 2:50 pm – 3:10 pm 3:10 pm – 4:30 pm 6:30 pm–10:00 pm

Breakfast Past Presidents’ Breakfast Practice Size Groups/Blueprint Sessions Session Break/Exhibitor Showcase Practice Size Groups/Blueprint Sessions Luncheon Sponsor Demonstrations Practice Size Groups/Blueprint Sessions Session Break/Exhibitor Showcase Practice Size Groups/Blueprint Sessions Association Cocktail Reception and Awards Dinner

THURSDAY MAY 15

7:30 am – 8:45 am 8:00 am – 9:00 am 9:00 am – 10:30 am 10:30 am – 10:45 am 10:45 am – 11:45 am 11:45 am – 12:00 pm 12:00 pm – 1:00 pm

Board Breakfast Meeting Farewell Breakfast Sales Presentation Role Play: Maximizing the Chance for a One-Call Close Session Break/Exhibitor Showcase Where Do We Go Now? Implementing What You’ve Learned President’s Farewell Remarks & Meeting Wrap-Up Light Luncheon / Snacks To-Go

HOTEL INFORMATION The InterContinental San Juan 5961 Isla Verde Avenue | San Juan, Puerto Rico | 00979 CHECK-IN 4:00 pm | CHECK-OUT 12:00 pm PHONE (800) 496-7621 RESERVATIONS (787) 791-6100 or (787) 982-4315

CLICK HERE TO BOOK YOUR ROOM GROUP RATE » $179+** | CUTOFF DATE » April 18, 2014 Reference PASBA to receive the group rate. **The group rate is guaranteed until April 18, 2014, unless the room block fills prior to that date. Rooms and/or modifications requested after the deadline of April 18, 2014 (or after the block has filled) will be subject to the hotel’s space and rate availability.

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PASBA WANTS TO RECOGNIZE YOU! Have you or another PASBA member recently changed practice size?

Acquired a new practice?

Received a new certification?

Been featured in a publication?

Received an award?

--- OR --Do you have an article you would like to publish in the PASBA Insider?

Do you have a topic you would like to know more about?

If you have any ideas or articles that you think the rest of the membership should see, please let us know!

CONTACT PASBA CENTRAL OFFICE director@pasba.org | 866.296.0001 CENTRAL OFFICE 6405 Metcalf Ave., Suite 503 Shawnee Mission, KS 66202 866.296.0001 pasbaco@dci-kansascity.com

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JORDAN BENNETT

SHELBY MCMILLIN

EXECUTIVE DIRECTOR

PASBA MEMBER/VENDOR DIRECTOR

jbennett@dci-kansascity.com 913.387.5607

smcmillin@dci-kansascity.com 913.387.5606

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4/12/13 10:33 AM

Who has had the most influence on your practice?

It is a tight race between Tom Bowman and Vincent Howard.

Both of them have gone out of their way on many occasions to help me. Many others have as well. I could list a couple dozen members to whom I feel indebted. I wouldn’t be in PASBA without Vincent. I just happened to sit by him lunch at a Thomson Reuters conference and he introduced me to the world of PASBA. He is my mentor and has shared many of his processes and checklists. He has also allowed me to visit his office to see his systems in action and spent a lot of time on the phone coaching me.

Tom taught me at Blueprint University. It was an amazing experience. I sat through it again at my second conference just to soak in all of the information. Tom has also spent more time than I would ever expect with me on the phone and has been extremely encouraging to me.

What is the best tip you have gained from a PASBA conference?

A tip that has had a large impact on your company?

headaches of getting all the employees and clients on board with the PASBA program, there is the risk of losing the investment. I had an “inherited” manager run off with the business I purchased in violation of her employment contract. This nearly ruined me; so much so that Steve Feinberg still expresses his surprise when he sees me at conferences. It has been over two and a half years and I have still not fully recovered from this theft.

What brought you to the accounting profession?

MEMBER PROFILE

The best tip would be how to hire. I use the PASBA hiring process religiously and I especially value the GCT Test.

Employees I hired before I used the Paragon Accounting tests wound up being duds. My current employees are top notch. I can’t remember which member told me this, but when I asked the bulletin board how long it should take to hire a manager, the best advice I received was, “As long as it takes to find the right one.” I feel so strongly about this that I would never hire someone just to fill a spot, but I might possibly hire a qualified person for whom I currently have no position if I could cover the expense.

John Drawdy

What is your most memorable PASBA conference experience?

The information overload from the first conference I attended in Scottsdale, AZ absolutely blew my mind. Other than that, watching Chuck Bauer throw a $100 bill on the table at dinner in Palm Springs to the first person who could correctly answer his question was cool.

Thanks to Tom Bowman for using that $100 he won to buy the wine!

What is one idea/technique that you would like to share with other PASBA members from your office?

We have expanded our use of the GCT Test. I believe most members use the clerical and the numerical sections, but not the verbal. Well, I need to know my people will be able to communicate intelligently with my clients so I have added the verbal. There are four parts totaling 16.5 minutes that test spelling, reading comprehension, vocabulary and grammar.

What is something you have done in your practice that you would NOT do again or would not recommend other PASBA members do and why?

Although many members have had success with purchasing other accounting firms, I doubt I will ever do so again. In addition to the

& Tax Solutions, LLC

My mother’s twin brother worked for a small CPA firm right out of college.

Eventually he was the more than 50% owner of this 20 person firm. However, he suffered great health set-backs from stress along the way and seemed to always be working. I actually tried to stay away from the profession by majoring in general business, but when I took Accounting 101 I found I had a talent for it. So I decided to be a corporate accountant and went to work in a bank accounting department. That led to being recruited by a local CPA firm specializing in small bank audits and eventually opening my own firm. I was tricked!

Who is your favorite client and why?

My favorite client owns a small insurance company. He is my favorite client not only because he is my best friend, but also because he just lets me handle everything and doesn’t want to get too involved. When I to ask him how he would like to handle something regarding his accounting or taxes his response is, “I don’t know.

That’s why I hired you.”

What marketing/technology/practice tool could you not live without and why is it so important to you?

I love being on Thomson’s SAAS. It handles most of our IT functions so we don’t have to and also comes with free support. I also use Thomson’s payroll arm, MyPay, for payroll. I just can’t be bothered with the headaches of payroll until I grow bigger.

What is a unique idea that you use in your office and think might be beneficial for others to try?

I try to stay as far away from production as possible. That sounds a little crazy for a firm as small as mine, but I’ve got bigger fish to fry. Sometimes my lack of involvement in the client work perturbs some of my FSRG members, but I’m just not wired to do a bunch of tax returns.

If there is one, what aspect of the PASBA system are you trying to implement in your office right now?

I am spending a lot of time tailoring processes and checklists to our firm. I’ve received a lot of helpful documents from PASBA members, including the information in the manuals. However, no other office will run exactly the same as another so I am working very hard to get these systems, processes, and checklists specific to us in place to prevent mass confusion as we grow.

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