On Balance September | October 2015

September | October 2015 | Vol. 11 No. 5 A publication of the Wisconsin Institute of CPAs | wicpa.org

FORGING

A NEW PATH Angela C. Thomas, CPA

Plus: AICPA’s 6-point plan enhances audit quality Understanding the changes to OMB Uniform Guidance What you should know about FMLA and ADA obligations

?

Do you have clients who are unhappy with their investments or investment advisor?

Do you have clients who need a comprehensive plan?

Maybe you’d just like a resource to help with investment related questions?

Let us help you ADD VALUE to your practice & clients during busy season We’re available and happy to help. We offer our resources and will arrange initial consultations for free with no obligations.

Individuals: • Wealth Management

• Annuities • 529 Plans

• Investments – Equities & Fixed Income/Bonds

Businesses:

• Insurance Reviews

• Retirement Plans/IRA’s (401(k), SEP, SIMPLE, etc.)

• Succession Planning

• Estate Strategies

There are no costs or obligations for these review services — CALL US TODAY! Kenneth J. Schneider, MBA Managing Director - Investments 20800 Swenson Drive, Suite 200 Waukesha, WI 53186 262-798-3730 • 800-323-1410 kenneth.schneider@wfadvisors.com

James K. Schneider, CFP® Associate V.P. - Investment Officer WICPA member 20800 Swenson Drive, #200 Waukesha, WI 53186 262-798-3759 • 800-323-1410 james.schneider@wfadvisors.com

Wells Fargo Advisors, LLC, Member SIPC, is a registered broker-dealer and a separate non-bank affiliate of Wells Fargo & Company.

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WANT YOUR BUSINESS MENTIONED IN ODDS & ENDS?

Email your announcement to cynthia@wicpa.org.

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usbank.com/smallbusiness

Solutions for every stage of your business

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Our commitment to business success is inspired by yours.

Whether your client is starting or expanding their business, U.S. Bank provides financial solutions that may help manage cash flow, payments and loans for future growth opportunities. We are dedicated to providing tailored business solutions that may help support business success.

Mike Ward Business Banking 414.765.6061

Call us today to learn more about how U.S. Bank can become a resource for both you and your clients.

EQUAL HOUSING

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Credit products are subject to normal credit approval and program guidelines. Some restrictions and fees may apply. Please see a banker for details. Deposit products offered by U.S. Bank National Association. Member FDIC 141627

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AICPA’S

6-POINT PLAN ENHANCES AUDIT QUALITY

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KNOW SOMEONE WHO STANDS OUT IN A CROWD? The hustle and bustle of daily routines can make days and years pass by before we take a moment to reflect on colleagues who have

impacted our lives and the lives of others.

Take a moment today to think about those who stand out, and give back to them for giving you so much.

CONSIDER NOMINATING: • An exceptional co-worker.

• A mentor.

• Someone who sparked your passion for the profession.

• Someone who shares his or her talents with others.

• Someone who gives back countless hours to the community or a nonprofit group.

ACCEPTING NOMINATIONS FROM TUESDAY, SEPT. 1-FRIDAY, NOV. 20, 2015.

10 AWARD CATEGORIES Show your appreciation today by submitting your nomination at wicpa.org

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ARE YOU NEGLIGENT OF YOUR NONVERBAL COMMUNICATION? EVIDENCE SUGGESTS MANY PEOPLE ARE GUILTY WHEN IT COMES TO REALIZING VERBAL COMMUNICATION ACCOUNTS FOR JUST 7% OF YOUR MESSAGE.

PROGRAM DETAILS

PRESENTER

DO YOU KNOW WHAT’S GOING ON WITH YOUR OTHER 93%?

Negligence of your nonverbal communication can and does sabotage your success.

During this fun and highly interactive program, you will: Improve important skills that impact how your overall communication is judged by others.

Investigate what your personal mannerisms and behaviors say about who you are so loudly.

Acquire practical tips to improve your voice in order to project more power and authority.

Examine how you can communicate effectively to advance your career, organization, profession and the needs of your clients.

M. Alice O’Connor, Principal, Constituency Services

LOCATIONS & DATES

Eau Claire, Thursday, Sept. 10, 11:30 a.m. – 3 p.m.

Green Bay, Thursday, Oct. 1, 11:30 a.m. – 3 p.m.

Madison, Thursday, Oct. 8, 7:30 – 11 a.m.

Pewaukee, Friday, Oct. 30, 7:30 – 11 a.m.

EDUCATIONAL CREDITS: 3 CPE credit hours REGISTRATION: $55 member | $65 nonmember WAYS TO REGISTER wicpa.org/FallFocus P: 262-785-0445

PLUS, Madison and Pewaukee attendees will have the opportunity to meet and network with current WICPA

Board Chair Jean Hansen, CPA, MBA, CGMA, and Eau Claire and Green Bay attendees will have the opportunity to meet WICPASeptember Chair-Elect Steve Handrick, CPA, CGMA. Additionally, WICPA President and Onwith Balance | October 2015 14 and network CEO Dennis F. Tomorsky, CPA, J.D., CGMA will give a brief professional issues update.

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2015 ECM LEADERSHIP

SUMMIT NAVIANT INC.

Lambeau Field | Green Bay, Wisconsin Tuesday, October 13, 2015

Is your business struggling with too much paper and inefficient processes?

Learn how executives like yourselves are growing the bottom line with business process improvement strategies and solutions that streamline your business. Join us at Naviant’s Summit to start solving key business challenges and learn how to do “more with less” by attending the leadership session on Success Strategies for Organizational Effectiveness.

Executive guests are complimentary and will be treated to a VIP experience, including cocktails & dinner in the exclusive Champions Club Penthouse, private Stadium Tours, and a chance to win Packers v Lions tickets.

For more information visit naviant-inc.com or call 608.848.0873

Naviant helps organizations streamline business processes and implement solutions to help drive operational efficiencies and automate process improvements.

wicpa.org

Verona, Wisconsin · 888.686.4624 · naviant-inc.com On Balance September | October 2015

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NEW CPAs Welcome to the profession!

Thirty-three newly licensed CPAs celebrated the accomplishment of becoming a CPA at the 8th annual New CPA Welcome Dinner on June 11 at the Holiday Inn Pewaukee-Milwaukee West. The dinner, attended by more than 100 people, included a keynote speech by WICPA member Timothy L. Christen, CPA, CGMA, chair and CEO, Baker Tilly and vice chair, AICPA Board of Directors. Attendees were entertained with a casino theme and were invited to “play their luck� after the program.

View event photos at wicpa.org/newcpa2015.

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Prepare. Protect. Persevere.

In a world where statistics can be against you, we’ll always be 100% for you.

With solid planning and strong partners, you can overcome any obstacle. Johnson Insurance has the expertise and resources to help you reduce risks and build peace of mind – for you, your family and your business. We’ll be at your side. And on your side. From day one.

ONE OF WISCONSIN’S LARGEST INDEPENDENT INSURANCE AGENCIES COMMERCIAL | EMPLOYEE BENEFITS | PERSONAL | LIFE

BA N KING

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WEA LT H

INS UR ANCE

JOHNSONINS.COM

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PEAK PERFORMANCE IS HUMANLY POSSIBLE What are you doing to launch your business forward?

Experis™ can bring you the risk advisory, tax and finance & accounting solutions and experts that share your vision and can help you create sustained growth. Let us connect you to the experience you need and watch your company take off. Visit experis.com Contact one of our Wisconsin locations: Appleton (920) 380-0850 • Madison (608) 828-2720 Milwaukee (414) 231-1139

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WEISS BERZOWSKI LLP ATTORNEYS AT LAW

WE SOLVE TAX PROBLEMS

Serving all of Wisconsin with offices in Milwaukee and Delafield.

Solving Wisconsin tax problems for almost 60 years.

We handle IRS and state tax audits, appeals and collections.

A team of Attorneys skilled in accounting (CPAs), business and real estate to ensure all tax issues are properly addressed and resolved.

IRS and Wisconsin Tax Audits Tax Collection Problems Property Tax Challenges Foreign Account Disclosure Corporations and Individuals

Tax Appeals Offers in Compromise Non-filers Tax Planning

Attorney Robert Teuber AVVO Top Rated Attorney Super Lawyer Rising Star 414-276-5800

www.wbb-law.com

C h e c k o u t H o t Ta x To p i c s a t o u r b l o g ! w w w . t a x l a w f o r u m . c o m 32

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The things we care about the most are the things we

just can’t afford to lose.

Most of us are looking to save money any way we can.

Especially on things we can’t even see.

Like insurance. But inferior insurance is just plain useless.

That’s why West Bend’s Home and Highway® policy makes sense.

It protects just about everything you own: your home, condo, or rental unit, as well as your car, truck, boat, motorcycle, snowmobile, even your family pet. It’s all on one policy with one bill and one deductible.

You even get a special discount for being a member of the WICPA. And with West Bend, you’re backed by the knowledge and experience of an independent insurance agent.

West Bend. Insurance you buy when you can’t afford anything less.

To find out more, contact the official supplier of the Silver Lining®.

Professional Insurance Programs at 414-277-0154 or info@profinsprog.com.

PRSRT STD U.S. POSTAGE

The Magazine for Wisconsin CPAs A publication of the

Wisconsin Institute of Certified Public Accountants

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