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CPA Fall 2015

Volume 59, Number 2

Audit Quality Profession Takes Bold Steps toward Audit Quality

Best Practices of 401(k) Plan Administration Succession Planning and “Buy Sell” Agreements For Closely-Held Businesses Parting Ways: Effective Strategies for Saving Assets, and Maybe Even Relationships

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wa s h i n g t o n

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

BOARD OF DIRECTORS William A. Simer Chair David J. Miniken Vice Chair Kirsten S. Duke Treasurer Joseph P. Smith Secretary Heather L. Fitzpatrick Immediate Past Chair Richard E. Jones President & CEO

Laurie J. Anderson Kristine L. Lambright Ryan T. Bartlett Lucy L. Liu Justin A. Bourn Amanda V. O’Rourke Thomas G. Donaghy Michael Reeves Robert W. Heller Abby M. Sanders CHAPTER BOARD CHAIRS Erika Hosea Bellevue Area Lydia Ahn Bellingham Area Dana Lashbaugh Everett Area Diane Bingaman Olympia Area Joe O’Meara Seattle Area Fred Peck Spokane Area Dani Espinda Tacoma Area Alexander King Tri-Cities Area Molly VanderWoude Tri-Cities Area David Stubing Vancouver Area Sean Kinney Yakima Area

Jeanette Kebede

Contents

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Washington CPA Scholarship Program: A Team Win

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Profession Takes Bold Steps toward Audit Quality

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Best Practices for 401(k) Administration That Will Also Help You Get through a DOL Audit of Your 401(k) Plan

Editor

19 New Tax Due Dates Create More Logical

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

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

21 Succession Planning and “Buy-Sell” Agreements For

The WashingtonCPA (USPS 009754) is published four times annually by the Washington Society of Certified Public Accountants, 902 140th Avenue NE, Bellevue, WA 98005-3480. $12 of members’ annual dues goes toward a subscription to The WashingtonCPA. Periodicals postage paid at Bellevue, Washington and additional mailing offices. Cover photo: © Veer / Fancy Photography POSTMASTER: Send address changes to The WashingtonCPA, c/o WSCPA, 902 140th Avenue NE, Bellevue, WA 98005-3480.

Information Flows Closely-Held Businesses

23 Parting Ways: Effective Strategies for Saving Assets,

and Maybe Even Relationships

26 Provide Your Input on Next Version of the CPA Exam DEPARTMENTS 4

Leadership Lens

31

14

News Briefs

36 Conferences

CPE Digest

17 Advocacy

45

Registration Form

25

46

Classified Ads

Networking Events

28 Foundation

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WashingtonCPA Fall 2015

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LEADERSHIP LENS

Washington CPA Scholarship Program: A Team Win By Rich Jones, CPA, CGMA, President & CEO

We believe this is the only time a sweep of funds from a state board of accountancy has gone to an effort to benefit the profession rather than into the General Fund. We are very proud of this accomplishment.

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uring this past legislative session, the Legislature passed substitute Senate Bill 5534 which created the Certified Public Accounting Scholarship Program. This bill was unanimously approved in the House (98-0) and in the Senate (46-0, with two Senators not voting). Governor Insley signed the bill on May 8, 2015 to be effective July 24, 2015. The final State Operating Budget for 2015-17 allocated a total of $3.3 million to this program. This is a tremendous achievement for Washington CPAs and future CPAs in our state. Here is a bit of the back story on this accomplishment. Through good fiscal management (and the desire to maintain reserves for defending against possible legal action), the Washington State Board of Accountancy (WBOA) had created a sizeable reserve, approximately $4.5 million. As is common in our state, and most others, any reserve balances that are considered excessive are transferred by the Legislature into the state’s General Fund. In fact, the Washington Senate proposed such a transfer from the WBOA of approximately $3 million in the 2013-15 budget proposals. Through grassroots efforts by more than 150 of our members, along with our staff and lobbyist, we were able to have this proposal dropped from consideration. Our reasoning was that since the entire reserve came from individual and firm license fees paid by CPAs and CPA firms (i.e., none of the money came from state general funds), then

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transferring these funds to the General Fund would be tantamount to a double tax on CPAs and firms that created these reserves. We won that battle, but we all knew we would face it again in subsequent years. In this year’s budget negotiations a sweep from the WBOA to the General Fund was proposed twice, once for $2 million and once for $3.3 million.This time we were ready. We introduced legislation that would create a scholarship fund to provide scholarships to qualified students who are enrolled at an accredited Washington-based college or university with a declared major in accounting and entering his or her junior year or higher. The actual bill did not specify where the funding for this program would come from, although it was clearly understood by legislators that the scholarship program would only be funded to the extent funds were transferred from the WBOA. So even though the bill passed the legislature unanimously, it would only be funded if the final budget negotiations provided for a sweep of funds from the WBOA into the scholarship program, which is exactly what happened.We believe this is the only time a sweep of funds from a state board of accountancy has been transferred to an effort to benefit the profession rather than into the General Fund. We are very proud of this accomplishment. Now that this scholarship program has been approved and funded, we are busy executing on this project. Our existing foundation, the Washington

CPA Foundation, will be responsible for this scholarship program since they are a qualified Section 501(c)(3) charitable organization. However, since the Foundation has no employees, the actual work of executing this program will be performed by the WSCPA in accordance with agreements between the two entities. We have met numerous times with our attorney, investment advisors, not-for-profit accounting specialists, WBOA staff, Foundation Trustees, members of the WSCPA Board of Directors and others to identify all of the actions that need to be taken to create and operate this scholarship program. During the next six months we will be communicating with college financial aid officers, accounting faculty and accounting students to publicize this new scholarship program and will begin accepting applications soon. We intend to select our first group of scholarship recipients under this program in spring 2016. These scholarship recipients will be in addition to those that we will select under the Washington CPA Foundation’s existing scholarship program. We will continue to provide scholarships under our existing program since this new scholarship program is designed to eventually be depleted and we want to be able to continue to provide scholarships for generations to come. To learn more about this and how you can get involved, see page 28. I would like to thank everyone who helped make this vision become a reality, including our Legislature, our Governor, the Executive Director and members of the WBOA, the Trustees of the Washington CPA Foundation, the WSCPA Board of Directors, our lobbyist Lisa Thatcher, Kimberly Scott—VP of Government and Member Relations, and most importantly, our members. This was a great team win. You can contact Rich Jones at rjones@ wscpa.org. www.wscpa.org


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Tax Goddess Gina, CPA

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Update your interests today! www.wscpa.org/mywscpa (click “Manage My Interests”) (425) 644-4800

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LEADERSHIP LENS

Ethical Standards: The Bedrock of Our Profession By William A. Simer, CPA, WSCPA Chair for 2015-2016

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his is a great time for the Washington Society of CPAs and our members. As you’ll read on page 4 in this issue, our advocacy efforts have been successful in creating the Certified Public Accounting Scholarship Program that will allow the Washington CPA Foundation to offer scholarships to qualified accounting students for years to come. Over the last several weeks the leadership of the Society, along with staff and our professional advisors have been focused on creating the policies and procedures for the administration of the new scholarship fund. It’s been a busy summer to say the least, but the future looks bright. As fall starts activity really begins to pick up at the Society offices with a full calendar of conferences and seminars. Around the state WSCPA Chapters have been rolling out events—some to expanded areas, with new networking components, at new locations, or under new leadership, including a highly-motivated group of young CPAs. In the next few months members of the Board and staff are planning on visiting local chapters throughout the state so you’ll have a chance to meet us close to home. From time to time I receive letters and e-mails from members with concerns about issues facing their practices. Many of them are regarding concerns with recent rules or policies and their implementation, but a recent letter I received was directed at a more important matter, the ethical standards that are the bedrock of our profession and the backbone of our privilege as a selfregulated profession. Whether you practice in public accounting, in industry, or even if you’re retired, the ethical standards of our profession convey a higher level of personal responsibility that has resulted in the high level of public trust that we enjoy as CPAs. As our profession develops specific standards for specialized areas

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Our Code of Professional Conduct (aicpa.org/codeofconduct) sets a high bar but the result is that we’re held in high esteem by the public, and other professions worldwide look to our ethics as the standard to be emulated. If you haven’t read our Code of Professional Conduct in a while I would suggest that you take the time to read and contemplate it. You’ll likely find a reminder of why you chose this profession as your life’s work.

of practice, the discussion always starts with the importance that our Code of Professional Conduct (www.aicpa. org/codeofconduct) be a central part of these standards. While I’ll concede that specific rules and interpretations are necessary elements of our ethical standards, understanding and being committed to the principles of our Code of Professional Conduct is critical as we navigate in a world of rapid and dynamic change. The preamble to our Code of Professional Conduct reminds us that by accepting membership in the AICPA (or the WSCPA—as referenced in the Bylaws, WSCPA members agree to comply with the Code of Professional Conduct of the AICPA) we assume an obligation for selfdiscipline above and beyond the requirements of laws and regulations, and that our responsibilities extend to the public, to clients, and to colleagues, and that we should exercise sensitive professional and moral judgments in all activities, even if we sacrifice personal gain as a result. Our Code of Professional Conduct sets a high bar but the result is that we’re held in high esteem by the public, and other professions worldwide look to our ethics as the standard to be emulated. If you haven’t read our Code of

Professional Conduct in a while I would suggest that you take the time to read and contemplate it. You’ll likely find a reminder of why you chose this profession as your life’s work. In the next few weeks I’ll be taking part in regional meetings of the AICPA, and their fall meeting of Council. You can expect that in our next issue we’ll have an update on the developments that take place at those meetings. It’s an honor and a privilege to represent you. William Simer, CPA, is Partner with Eide Bailly LLP in Spokane.You can contact him at bsimer@eidebailly.com.

CALL FOR NOMINATIONS Join the WSCPA Board of Directors The WSCPA Board Governance Committee is accepting nominations for the 2016-2017 Board of Directors. Submit nominations to Helen Doty, hdoty@wscpa.org. Nominations are due October 30. www.wscpa.org


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AUDIT QUALITY

Profession Takes Bold Steps toward Audit Quality By Susan S. Coffey, CPA, CGMA

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he CPA profession has worked hard to earn its reputation for trust. The quality of services we provide, plus our commitment to stakeholders in the financial marketplace, set the foundation that enables the public to rely on us. Our CPA brand research shows that the key words the public associates with CPAs include integrity, objectivity, competence and excellence. Auditing is at the core of the many CPA services that protect the public. However, in recent years audit quality and audit relevance have become focal points for both public and private companies. We operate in a complex, challenging and fast-paced business environment, and auditors must remain vigilant, maintain excellence and continue to meet the expectations of those we serve. The profession recently took a bold step in reaffirming our ongoing commitment to high-quality audit performance. We released a 6-Point Plan to Improve Audits.The plan is a roadmap for the profession to achieve the goals outlined in the Enhancing Audit Quality (EAQ) initiative, launched in May 2014 to support excellence at every touch point along the financial statement audit process.The comprehensive EAQ initiative includes a focus on specialized audits, such as those of governmental entities and employee benefit plans.

Stakeholder Input Shapes the Direction of the Quality Journey

To obtain member and stakeholder insights on the AICPA’s strategic thinking on improving audits, the Institute last summer published a discussion paper called Enhancing Audit Quality: Plans and Perspectives for the U.S. CPA Profession. The Institute received more than 860 comments, and heard additional views from individuals and groups at conferences, meetings and other forums. We also heard from several state societies

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The AICPA’s 6-Point Plan to Improve Audits is a roadmap for the profession to achieve the goals outlined in the Enhancing Audit Quality (EAQ) initiative, launched in May 2014 to support excellence at every touch point along the financial statement audit process. The comprehensive EAQ initiative includes a focus on specialized audits, such as those of governmental entities and employee benefit plans.

and state boards of accountancy. Many of the recommendations were brought to the appropriate AICPA board, committee or task force for consideration and, if appropriate, approval.

Action Speaks Louder than Words

The 6-Point Plan puts the input we received into action. We’ve designed a roadmap that integrates quality enhancements throughout an auditor’s journey. It starts before an individual is licensed as a CPA. Then, the journey continues as the CPA builds professional competencies, engages in practice monitoring and plays a role in peer review—either as a reviewer or as a practitioner under review. The plan places the necessary emphasis on areas that will drive higher audit performance, recognizing that focus on these areas is important both before the audit engagement is performed and after. The plan’s six areas are:

1. Pre-licensure – A next version of the CPA exam designed to increase assessment of higher-order skills, such as critical thinking and professional skepticism; high school advanced placement accounting course; changes to college-level accounting education; additional doctoral-level audit professors with practical experience. 2. Standards and Ethics – Quality control standards implementation support; auditor’s report revisions; evaluation of clarified standards implementation; ethics code codification. 3. CPA Learning and Support – Competency models for audit engagements, including employee benefit plan and governmental audits; competency assessment tools; targeted www.wscpa.org


AUDIT QUALITY

resources to develop competencies; certificate programs to demonstrate competence. 4. Peer Review – Increased focus on greater risk industries and areas; more significant remediation; root cause analysis; termination from the peer review program after repeat quality issues. 5. Practice Monitoring of the Future – Long-term initiative for near real-time, ongoing monitoring of firm quality checks using robust technological platform.

6.

Ethics Enforcement and NASBA Collaboration – More aggressive pursuit of reported deficiencies and stronger ties with the National Association of State Boards of Accountancy and state boards of accountancy.

Every CPA plays a role in upholding the profession’s reputation and to strengthening the value and relevance of our services. Please join us in continuing the journey of audit excellence.

Take a Bold Step with Your Peers

Audit quality has always been an imperative for the CPA profession. As businesses have become more complex, so too have financial statement audits. A year ago we recognized that bigger, daring steps were needed to address challenges related to audit performance, and now we have a pathway forward for doing just that.

Susan S. Coffey, CPA, CGMA, is Senior Vice President - Public Practice and Global Alliances with the American Institute of Certified Public Accountants (AICPA).

Learn More Enhancing Audit Quality Resources aicpa.org/auditquality •

6-Point Plan to Improve Audits

Enhancing Audit Quality (EAQ) initiative Includes a webinar archive, Employee Benefit Plan resources, Practice Monitoring of the Future section and Peer Review Areas of Focus Resources.

Enhancing Audit Quality: Plans and Perspectives for the U.S. CPA Profession Discussion Paper

Enhancing Audit Quality CPE • Accounting & Auditing Conference (16AAC), November 13 James Brackens, CPA, CGMA,Vice President - Ethics and Practice Quality of the AICPA, will be presenting a session on Enhancing Audit Quality. Learn more at www.wscpa.org/aac

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401(K) PLAN ADMINISTRATION

Best Practices for 401(k) Administration That Will Also Help You Get through a DOL Audit of Your 401(k) Plan By Tim Wulfekuhle

I

t is no secret that the Department of Labor (DOL) is stepping up their 401(k) plan auditing and enforcement activities. They have added over 1,000 new agents who are focused on 401(k) audits and proudly report that for fiscal year 2014, approximately 65% of the plans they audited had some sort of deficiency and that the average recovery (restoration to the plan plus penalties) was $235,000. You can read the full statistics at www.dol.gov/ebsa/newsroom/ fsfyagencyresults.html. While one might wonder whether there is a problem in the design of a system where two-thirds of plan sponsors fail to operate their plans in total compliance with the regulations, all you can really control is your preparation to ensure that you have the best chance of being in the minority when you receive the ominous letter that you are being audited. The following are some steps you can take to be prepared for a DOL audit of your plan. As a side benefit, you are likely to improve plan operations at the same time.

Don’t Give Them a Reason

The DOL chooses plans for audit one of four ways: 1. 2. 3. 4.

Random choice DOL industry audit initiative DOL plan provision audit initiative Participant complaints to the DOL

As a plan sponsor, you only have control over one of these reasons: participant complaints. If a participant is complaining about not receiving the correct amount of contributions, incorrect vesting, or any other operational aspect of your plan, take it seriously. Review the Summary Plan Description and Plan Document

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yourself. Do you think it is being followed correctly? Ask your TPA to confirm that it is being done correctly. Respond to the complaint in accordance with the plan’s claim procedures. If this doesn’t satisfy the participant, you at least have documentation that the proper procedures were followed and the claim was justifiably denied.

Remit Your 401(k) Contributions on Time

If your 401(k) plan requires an audit, the auditor is already looking at this, but by the time they point it out it is too late. While you can easily correct a late remittance for relatively little lost interest and penalties, it must be reported on the Form 5500, which increases your odds for a DOL audit. Implementing a tight process helps to ensure that remittances happen timely, and just as important in the DOL’s eyes, consistently. Ideally, 401(k) contributions should be remitted via ACH, not check, in the same timeframe as you remit payroll taxes. Your recordkeeper should be able to initiate an ACH

pull from your bank account at the same time they receive the contribution file.

Locate and Understand Vendor Fee Disclosures

Under Internal Revenue Code (IRC) Section 408(b)(2), all plan providers who are expected to receive more than $5,000 in annual fees from plan assets are required to provide the plan sponsor with a disclosure of their fees at the time of the initial engagement and any time the information in that initial disclosure changes. Since fee payments from the plan are really deductions from participant balances, whether overtly or through reduced investment returns, the plan sponsor has a fiduciary duty to assure that these fees are reasonable and the services provided are necessary. These disclosures may be just a page or two when the vendor’s fees are overtly stated, or up to 30 or more pages when the fee schedule is less forthcoming. In either event, the plan sponsor needs to be aware of what is actually being collected by each vendor. If you www.wscpa.org


401(K) PLAN ADMINISTRATION

can’t convert the fee schedule to a dollar amount relatively quickly, you might consider having the vendor help you quantify exactly what they are being paid. If the vendor is receiving and retaining revenue sharing (12b-1 and/or Sub-TA fees) from the plan’s investments, you should have a spreadsheet that shows the revenue sharing rate, amount of assets in the investment option, and the total revenue sharing expected from each option for each and every vendor. In addition to the 408(b)(2) disclosure, all participants need to receive an annual fee disclosure under IRC Section 404(a) (5). While the plan’s recordkeeper usually prepares and mails this disclosure, the plan sponsor should review this to ensure that it is consistent with the 408(b)(2) notice and retain a copy in the plan’s annual file.

Know How Fees are Being Charged to Participants

Now that you have located and understand what each vendor is getting paid, it is important to then understand and document how these fees are being paid by the participants in the plan. Fees may be charged pro-rata based on assets, percapita, or some combination of the two. If revenue sharing is being used to pay vendor fees, consider whether the revenue sharing rates are consistent among all of the investment options. If the revenue sharing rates are not consistent, participants invested in the options with the higher revenue sharing rates are paying more fees than those in the lower revenue sharing rate options. As most, but not all, mutual funds offer a share class that does not pay revenue sharing, consistency can often be obtained by changing share classes. As an example of this, assume that a plan offers the American Funds Growth Fund of America R4 share class as well www.wscpa.org

as the Vanguard Index 500 Fund Admiral share class as investment options. Further assume that revenue sharing pays all Recordkeeper fees. The R4 share class of the American Fund pays 35 basis points (0.35%) of invested assets as revenue sharing each year. The Vanguard fund pays no revenue sharing. As a result, participants invested in the American Fund are paying for the recordkeeping while participants invested in the Vanguard fund are not. While this isn’t (currently) a violation of any regulation, it is difficult to justify when it is discovered. Changing to the R6 share class of the American Fund fixes the issue, as the R6 class is the exact same fund, has a lower expense ratio (by the amount of the revenue sharing), and doesn’t pay revenue sharing. In certain cases, revenue sharing isn’t necessarily bad. A policy to not offer investment options that pay revenue sharing will eliminate some very good options that don’t happen to offer a zero revenue sharing share class. You can fix the consistency issue by following an emerging best practice of simply having your recordkeeper allocate any revenue sharing that is paid back to the participants that were invested in the fund that paid the revenue sharing. This essentially gets the plan to zero revenue sharing, and plan fees are then charged to participants based on the fee payment policy. The end result is a fair assessment of fees to all participants.

Document Your Investment Selection and Monitoring Process

The Supreme Court recently affirmed in Tibble v. Edison that the plan’s Fiduciary(ies) have an ongoing duty to monitor the investment options offered in a 401(k) plan. While an Investment Policy Statement (IPS) is not technically required, it is a good tool for helping you document and execute your invest-

ment selection and monitoring process. A good IPS will serve as a guide for the criteria that new investment options must meet to be added to the plan as well as the criteria that existing options must continue to meet to remain in the plan. It is very important that provisions of the IPS are followed once the IPS is adopted. It isn’t too much of a stretch to say that, in the DOL’s eyes, a good process that produces a bad result is better than no process that produces a good result.

Follow the Plan Provisions

Following the provisions of the plan document may sound obvious, but violating plan provisions produces the highest restoration amounts in DOL audits.The most common and costly mistakes are excluding a group of employees from participation when the plan document does not provide for this exclusion and allocating contributions on a definition of compensation that is different than the definition in the plan document. The compensation definition can be particularly tricky, so be sure that

Wonder what documentation you would need to provide if selected for a DOL audit? Take a look at a sample of their six-page request list at www.nwp401k.com/ 2015/08/irs-audit-checklist.

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your recordkeeper or TPA explains to you what is and isn’t included in the plan’s definition of compensation so you can ensure that compensation being used to compute contributions and make other required determinations is in line with the plan document.

Retain Documentation and Plan Records

When the DOL notifies you that you have been chosen for audit, the year being audited is typically two or three years prior. It can be time consuming to find all of the documentation being requested when you are looking back a few years. Given that their request list is six pages long (you can view one at www.nwp401k. com/2015/08/irs-audit-checklist), we recommend that our clients, with our assistance, prepare the required information each year so it is readily available if the audit letter comes. You can either print

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it all or note where each item is stored electronically. Aside from saving countless hours if you ever are chosen for audit, it is also a good exercise to help uncover any issues with the plan that need attention. It is much easier and less expensive to fix a plan problem before it is discovered during an audit. Both the IRS and the DOL can audit up to seven years in arrears, so your document retention policy should adhere to this.

Conclusion

While not to be taken lightly, DOL audits do not need to be a cause for concern. To get through one cleanly, plan sponsors should adjust their processes and procedures to address the known DOL hot points outlined above. By being prepared now rather than waiting to react to the inevitable audit letter, you can avoid unnecessary stress and expenses down the road.

Tim Wulfekuhle is President & CEO of Northwest Plan Services, Inc. in Seattle. You can contact him at twulfekuhle@ nwp401k.com.

Learn More November 4 Auditing Employee Benefit Plans WEBCAST (16WBCNV04A) 8 CPE credits

During this webcast you’ll learn the fundamentals of auditing employee benefit plans in accordance with AICPA and EBSA standards and avoid problems that are all too often encountered. Explore requirements unique to employee benefit plans, and requirements and audit procedures related to defined contribution, defined benefit, and health and welfare plans to more effectively plan and carry out your audit.

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AUDIT QUALITY

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Come see why the Puget Sound Business Journal ranked Bashey, Hutchinson & Walter, CPAs one of the top CPA firms in the Northwest. We are looking for skilled CPAs who want balance in their lives and success at the workplace. We will offer you: Opportunity to grow— The ability to Contribute— A Supportive Environment— And the Chance to Lead— Please contact the managing partner Marc Hutchinson marc@hutchcpa.com 

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NEWS BRIEFS

SPECIAL MEMBER DISCOUNT FROM CCH

Save 25% on U. S. Master Tax Guide 2016 when You Order Online Tax season is just around the corner. Order the U.S. Master Tax Guide through the WSCPA and save 25% off the $98.75 list price! Place your order online and the WSCPA member price is just $74.06 plus tax and shipping. You will not be billed until after the book ships. (Cancel before shipment without charge.) An e-Book option is now available; download to your computer instantly once the book becomes available. The 2016 edition will conOrder now! tain timely and precise explawww.cchgroup.com/members/WSCPA nations of federal taxes for individuals, corporations, partnerships, estates and trusts. To order, please visit www.cchgroup.com/members/WSCPA. The discount code Y5596 will be applied to your order at checkout. Save up to 40% on other CCH top tax and accounting titles. Use the link above and scroll down to view Current Book Specials.

Society Mailing List Policy The Society does not sell member e-mail or mailing addresses. Members may occasionally receive mail from the Society’s third-party affinity partners that offer products or services deemed to provide value to members. To be excluded from these mailings,

Find a CPA Referral Service

Drive Business to Your CPA Firm with Referrals According to the New York Times, 65% of new business comes from referrals. Yelp, Angie’s List and apps demonstrate how word of mouth guides our decisions on a daily basis. As the only organization in Washington dedicated to serving the profession, people turn to the WSCPA to find the best of the CPAs. If you are looking for ways to attract new clients, the WSCPA Find a CPA referral service can help you expand your client base. The referral service is easy to sign up for and easy to use. For just $175, your listing will be displayed for a full year. With just one click on the “Find A CPA” button, potential clients have easy access to all the information they need to find you and can search by key terms–services offered, area of expertise and location.

update your Communication Preferences online at www.wscpa.org (select MyWSCPA,

Update your communication preferences and manage your interests at wscpa.org/ MyWSCPA

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then scroll down and select Communication Preferences from the list of links) or send

Sign up now! wscpa.org > Find a CPA

a request to unsubscribe from third-party maillings to memberservices@wscpa.org, or call the Society at (425) 644-4800 or (800) 272-8273 (toll-free in Washington).

Enroll now at www.wscpa.org > Find a CPA. If you have questions call (425) 5861142 or toll-free in Washington at (800) 272-8273, ext. 1142 or email memberservices@wscpa.org.

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Free Monthly Resource from PCPS

In partnership with the AICPA Private Companies Practice Section (PCPS), the WSCPA offers a free rotating tool available every month at www.wscpa.org/pcpsresources.xPast tools included: a customizable Small Firm Recruiting Brochure (September), and a “The Role of the Firm Administrator: A Guide to Hiring, Developing and Effectively Utilizing This Key Person in a CPA Firm” (August). Watch the Short Form eNewsletter for a link to the latest tool or visit the website.

Join the conversation! LinkedIn

In Memoriam The WSCPA holds in memory with families and the larger community, these members who have recently passed on: Joseph L. Brester Richard R. Moffett www.wscpa.org/community/ in-memoriam

Membership Termination Notice

In consideration of the WSCPA foregoing a full investigation of his alleged misconduct, D. Richard Dance of Hayden, Idaho entered into a settlement agreement under the Joint Ethics Enforcement Program effective August 3, 2015. Under the settlement agreement, Mr. Dance’s membership was terminated by the WSCPA pursuant to an Agreed Order Mr. Dance signed with the Washington State Board of Accountancy in connection with his conduct as an exchange facilitator for clients.

Are you a member of the WSCPA group on LinkedIn? Join the conversation today! Plus, follow WSCPA news and find event photos on Facebook and Twitter.You may have missed the following discussions, news and posts:

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New to the WSCPA or to the WSCPA LinkedIn Group? Introduce yourself and say hi! Marijuana Taxation Laws 2 hour CPE Next Week Artificial intelligence to be ‘the norm’ in law firms in 2020 What is your Myers-Briggs type? 1099 Training Recommendation Request

Connect with fellow members and participate in discussions at www.wscpa.org/linkedin

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Tax Briefing: ACA Small Business Tax & Compliance AICPA Asks for Comments on CPA Exam Exposure Draft Rewarding and Challenging Careers in a Small Firm Dressing the Part Tips for Updating Your Wardrobe After College The Short Form has a new look!

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NEWS BRIEFS

Do you know me? I am your fellow WSCPA committee member who ensures that everything is running smoothly at an event. Or maybe I’m a new CPA in your office and I’m making an effort to get involved in the WSCPA. Or perhaps I am an individual who has used my position as a CPA to provide leadership throughout the community. Nominated by a colleague and selected by a committee of my peers, I am proud to have been selected as a WSCPA Award Winner. Rick Greaves, Robert Ash, Carmen Aguiar, Brett Jordan, Mike Cheney, Sarah Ozanne, Nerelys Codero, Mary Joyce, Rick Sweeney, Rick Anderson, Pete Shimer, Peter Miller, Dave Trujillo, Joe Sambataro, Robert Nuber and Jim Ladd are but a few of the many WSCPA members that have won a WSCPA award. Whom will you nominate?

WSCPA AWARDS Submit your nomination now! www.wscpa.org/community/awards/nomination-form John L. O’Brien Lifetime Achievement Award Recognizes a current or former member for a career of leadership and dedicated service to the accounting profession and as an exemplary role model for other CPAs. Vincent A. Gervais Public Service Award Recognizes a member whose respected leadership in community organizations has enhanced the image or public perception of CPAs. Company or Firm of the Year Award Recognizes a company or firm that provides noteworthy support to the WSCPA and its members.

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Special Award Recognizes an individual who is not a CPA but has supported or promoted the activities of CPAs and the WSCPA.

Outstanding Volunteer Leader Award Recognizes an active member for outstanding service and dedication and/or innovative and inspirational WSCPA leadership. New Professional Award Recognizes an active member who has been a CPA for fewer than 10 years for outstanding WSCPA leadership. Rising Star Award Recognizes a member who is in the process of obtaining a CPA License for active WSCPA leadership, dedication, and service.

www.wscpa.org


ADVOCACY

Be the Advocate: Your Involvement Will Strengthen the Profession By Kimberly Scott, CAE

T

hank you for being a member of the Washington Society of CPAs. I have had the honor to be a part of your professional organization for over 15 years. In that time I have met so many members, and have heard amazing stories about their lives and reasons for being CPAs. Overwhelmingly members are proud to be CPAs, as they should be. CPAs complete more continuing education than other professionals and the code of ethics creates a level of trust between CPAs and the public unlike that in any other profession. There is a lot of work that goes into maintaining the extraordinary reputation of the CPA profession. Of course each CPA plays a role in reinforcing the CPA brand. Numerous volunteers and staff nationwide carry out this work as well. If you are interested in volunteering, or getting more involved, there are some great opportunities coming up. The Washington State Board of Accountancy (WBOA) consists of nine members appointed by the Governor. Although there is a small daily stipend for attending the meetings, the appointments are truly volunteer, and extremely important. In 2016 there will be at least three open positions on the WBOA. If you are interested in a position on the WBOA, you can apply online at www.governor. wa.gov/boards-commissions. The stated purpose of the work of the board is to: “Promote the dependability of financial and other information used by providers of capital when assessing the status and performance of those seeking financial resources.” You can find out more about the purpose and goals at www.cpaboard. wa.gov/about-us/boards-purpose. If you do apply, please let me know. It was also announced this summer that Rick Sweeney, the current WBOA Executive Director plans to retire by February 2016. This position is extremely important to the CPAs in the state of

www.wscpa.org

WBOA Executive Director Rick Sweeney (above, far right) recently announced that he will retire by February 2016. Pictured above (from left), representatives from the Institute of Chartered Accountants of British Columbia (Richard Rees, CEO and Dan Little, President) and the WBOA (Don Aubrey, Chair and Sweeney) signed a Memorandum of Understanding and Cooperation regarding cross-border relations earlier this year.

Washington. The position is also considered an appointment by the Governor, however, it is a full-time, paid position. The WSCPA is highly interested in this position, since the staff in each organization work together throughout the year. We treasure and want to continue the good working relationships we have as it allows both organizations to serve effectively the CPAs in the state. If you are interested in this position, we would love to hear from you. Still more opportunities exist and volunteers are always needed. At the WSCPA you can join a committee in your area of practice. When new legislation is introduced, we often look to the committees for opinions and guidance. WSCPA members from every legislative district are invited every other summer (2016 will be the next time) to connect with the legislators that are running for reelection and sometimes new candidates

as well. Having relationships around the state helps us to be heard when potentially harmful legislation is proposed, or if we bring forth a bill. If you are friends with a legislator or are interested in getting involved, let me know. If you are not certain where you fit in, please consider attending a Professional Update in your chapter during the next few months. These updates will give you an overview locally and nationally, provide the opportunity to meet members of your Board of Directors, and provide you with CPE. I hope to hear from you… or see you soon! Kimberly Scott, CAE, is WSCPA Vice President of Government and MemberxRelations . You can contact her at kscott@wscpa.org.

WashingtonCPA Fall 2015

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www.wscpa.org


TAXATION

New Tax Due Dates Create More Logical Information Flows

O

n July 31, President Obama signed into law a short-term highway funding extension that contained important due date modifications for several common tax returns, including partnerships and C corporations. PL 114-41 is the culmination of a longstanding effort by the AICPA and state CPA societies to eliminate the awkward chronology for many returns.

Under the prior due dates, taxpayers and practitioners often had insufficient time to prepare returns because required information from a flow-through business was not available before the taxpayer’s income tax return was due. The idea behind the changes is to have flowthrough returns completed before the returns in which the flow-through information is reported for the recipients – in forms 1040 and 1120, for example. Taxpayers and their preparers will now have time to receive and analyze the flowthrough information before reporting it in other filings. Most of these changes are ones that the AICPA and state CPA societies have been advocating for several years. The effort centered on urging a more logical flow of information that would help taxpayers and tax professionals file timely, more accurate returns. In articles, social media posts and personal appeals to other members, about 200 AICPA and state society members volunteered their time to communicate the profession’s concerns. Discussions also were held between representatives of the profession and officials from the Internal Revenue Service and Treasury. “This legislative victory is proof that persistence yields results,” says Rich Jones, WSCPA President & CEO. “It just makes sense to complete flow-through returns before individual and corporate www.wscpa.org

Partnership (calendar year)

Trust and Estate

Original

Original

Form 1065 March 15

Extended

Sep 15

Form 1041 April 15

Extended

Sep 30

C Corporation (Ju

Form 1 Original Extended (before Jan 1, 2026)

C Corporation (calendar year)

Exempt Organizations

FinCEN

Original

Original

May 15

Original

Extended

Nov 15

Extended

Form 1120 Extended (before Jan 1, 2026)

April 15 Sep 15

Form 990

Report

(before Jan 1, 2026)

The idea behind the changes is to have flow-through returns completed before the returns in which the flow-through information is reported for the recipients – in forms 1040 and 1120, for example. Taxpayers and their preparers will now have time to receive and analyze the flow-through information before reporting it in other filings. returns are due so that the required information is available. This victory is part of the profession’s overall effort to help alleviate the crunch that occurs every tax filing season.” Among the changes, the new due date for C corporations generally will be the 15th day of the fourth month following the close of the corporation’s year (i.e., April 15th for calendar year C corporations). Currently, these returns are due on the 15th day of the third month following the close of the corporation’s year.

In some cases, due dates have been moved up. For partnership returns, the new due date will be the 15th day of the third month following the close of the taxable year (i.e., March 15 for calendar year partnerships). Currently, these returns are due on April 15 for calendaryear partnerships. It’s important for practitioners to note that the new law generally provides 6-month extensions (five and a half months for trusts), mitigating possible disruptions from the new due dates. WashingtonCPA Fall 2015

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TAXATION

“This legislative victory is proof that persistence yields results,” says Rich Jones, WSCPA President & CEO. “It just makes sense to complete flow-through returns before individual and corporate returns are due so that the required information is available. This victory is part of the profession’s overall effort to help alleviate the crunch that occurs every tax filing season.”

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The new law also provides for additional extensions not previously allowed. The due date for FinCEN Form 114, for example, will change from June 30 to April 15 to align with Form 1040 filings, and under the new law, Form 114 taxpayers will be allowed an extension, which was not previously permitted. That extended date, October 15, is also aligned with the Form 1040 extension. “This is a terrific result, but we are not stopping here,” says Rich Jones. “Taxpayers and preparers still face a host of other workload compression challenges. The WSCPA is working with the AICPA to find ways to address common complaints about the current due dates for other forms, including Form 1099s that taxpayers need in order to file their tax return. We will continue to work with them to help address these issues.”

For a complete list of the recent due date changes, download the chart at aicpa.org (search for Due Dates Summary Chart or go to www.aicpa. org/Advocacy/Tax/TaxLegislationPolicy/ DownloadableDocuments/Due-DatesSummary-Chart.pdf).

Learn More Due Dates Summary Chart Download at aicpa.org (search for Due Dates Summary Chart or go to www.aicpa.org/ Advocacy/Tax/TaxLegislationPolicy/ DownloadableDocuments/DueDates-Summary-Chart.pdf)

www.wscpa.org


SUCCESSION PLANNING

Succession Planning and “Buy-Sell” Agreements For Closely-Held Businesses By John E. Poffenbarger

Buy-Sell Agreements

A buy-sell agreement can serve many functions. It can protect the business from disputes between shareholders on such matters as management rights, www.wscpa.org

© Veer Ocean Photography

W

ith the current aging of the “baby boomer” generation, many closely-held businesses will be facing the retirement or death of the company founder in the near future. However, many closely-held business owners have not considered or are uncomfortable with planning for the succession of their businesses after their death or retirement. Failure to do so, though, can be disastrous to the long-term future of a business. Analysts have estimated that a surprisingly large percentage of closelyheld businesses fail following the death or departure of the company’s founder— most surveys indicate only 30% to 40% of family owned businesses survive into the second generation, and only 10% to 15% into the third generation. A carefully designed plan for the succession of a business can go a long way toward preserving the company. When creating such a plan, the owner should consider such items as the economic needs of the owner and his or her family, whether an adequate successor is available for management of the company either in the family or outside it, the future prospects of the business, and when the owner is willing to transfer control of the business. In many cases, the company’s accountant is the most trusted advisor and most frequent professional contact of the business owner, and as such, has a very important role in the planning. Depending upon the specific circumstances, a number of techniques may be available. However, a common element in many successful plans is use of an agreement among the owners of the company commonly known as a “buysell” agreement.

dividends, and voting deadlocks. Additionally, a buy-sell agreement often allows continuing stockholders or the company to purchase the shares of a stockholder who retires, becomes disabled or dies, or desires to sell shares to a third party. The agreement also provides a source of funds to the selling shareholder or his or her estate. Surveys show closelyheld businesses are not often sold to outside parties, so arranging a plan to sell to family members or employees of the company is often desirable. Once the decision to use a buy-sell agreement has been made, the terms of the agreement should be structured in order to avoid a number of potential problems. For example, under Chapter 14 of the Internal Revenue Code, in order to have the purchase price set forth in an agreement for a purchase upon the death of a family member respected for estate tax purposes, various requirements must be met. Essentially, the purchase price

provisions must be similar to those in agreements entered into by unrelated persons. Courts have held that an agreement which uses a book value method of establishing the purchase price will not generally meet this requirement, nor will certain formula methods, if not based upon the true fair market value of the company at the date of death. If the price set forth in the agreement is not respected, the value of the ownership interest will often be included in the taxable estate at a higher amount, while the estate receives only the purchase price established under the agreement, which can be a very bad result. The purchase price provisions of the agreement should also clearly state whether valuation discounts (typically for lack of marketability and lack of control) are to be applied. Failure to do so can lead to disputes between the parties as to whether the purchase price is to be adjusted for such discounts or not. WashingtonCPA Fall 2015

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In this regard, it should also be noted that Treasury officials have recently indicated the Internal Revenue Service is nearing completion of proposed regulations under Chapter 14 of the Internal Revenue Code, which, if upheld, may substantially diminish or even eliminate the availability of valuation discounts on many transfers of closely held ownership interests to family members. The regulations are apparently based upon a similar proposal made a few years ago by the Obama administration. While the exact reach of the regulations is not yet known and there likely will be legal action challenging them, if upheld, the effect on both new and existing buy sell agreements should be considered.

Certain Purchase Events and Insurance Issues

Buy sell agreements often include provisions for a buy out upon termination of an owner’s employment with the company. This result is generally desirable for owners who are not family members of the company founder, but care should be taken in applying such provisions to family members. In some instances, family members will receive ownership interests by gift and may work for the company,

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but such employment may not continue or be irregular. If in such case the buysell agreement includes a provision for a mandatory buy out upon termination of employment, a result that is not really intended may occur under the agreement and disputes may arise as to the outcome. Many buy-sell agreements also do not specifically address the divorce or bankruptcy of a shareholder. This omission can have the surprising effect of allowing an owner’s former spouse or creditors to become owners of the business. A full discussion of the treatment of buy-sell agreements by bankruptcy and divorce courts is beyond the scope of this article, but suffice it to say, the company and remaining owners will generally be in a much more favorable position if the agreement restricts transfers in those events. While “C” corporations are not as common as they once were, there can be an issue with buy-sell agreements of such corporations that are funded by corporate owned insurance. The problem arises from the “tax preference” under the corporate alternative minimum tax (“AMT”) for the excess of current book income over taxable income, sometimes known as the adjusted current earnings

or “ACE” adjustment. Life insurance and disability buy-out insurance are items of corporate book income, but generally do not constitute taxable income. As a result, pursuant to the regulations under I.R.C. Section 56, a buy-out arrangement in which a “C” corporation will redeem stock upon receipt of such proceeds may subject the corporation to the AMT, which generally should be avoided. In short, careful succession planning is essential for the continued success of closely-held businesses. A buy-sell agreement is a technique which is often used successfully to provide for the transfer of ownership upon the company founder’s death, disability, or retirement. However, care should be taken to ensure such an agreement is properly structured. John E. Poffenbarger is an attorney with Karr Tuttle Campbell in Seattle. Contact him at jpoffenbarger@ karrtuttle.com.

www.wscpa.org


PARTING WAYS

Parting Ways: Effective Strategies for Saving Assets, and Maybe Even Relationships

Š iStock by Getty Images vgajic

By David J. Lenci

When co-owners of a closely-held business wish to end their relationship, they should first try to do so by negotiation and mutual agreement, using a third party neutral, if necessary. If that process is unsuccessful, they can seek a formal judicial resolution through arbitration or litigation. Unresolvable Issues

When parties form an LLC or closely held corporation, they often ignore future circumstances that may give rise to conflict between them. Sometime later, the principals may start a conversation about dissolving or shutting down their mutually owned entity or business. While these efforts are often amicable, that process may devolve into a shouting match and possibly lead to an impasse. A major problem, especially with 50-50% owned small businesses, is the possibility that at some point in time the two equal owners cannot agree on a particular course of action or business decision. In such cases, the operation can be petrified by the impasse. Also, this impasse often spreads to other areas of the business. Then, of course, there are those situations where the members of an LLC can no longer agree on much of anything. Worst of all, one of the member participants could sue or trigger the dispute resolution clause www.wscpa.org

of their agreement, and World War III is played out in an arbitration or court proceeding. It is important for professionals who work for the entity, such as lawyers or accountants, to remain neutral and avoid taking sides in these circumstances.

Dispute Resolution Facilitator

Often, members who are involved in a dispute resolve their issues amicably, independent of their LLC agreement or any outside help. When that does not work, an alternative way to deal with deadlock involves agreeing to bring in a third-party facilitator. In some instances, the two protagonists might agree on a third person who could resolve their differences. Sometimes, the initial written agreement includes a procedure to follow for an aggrieved owner to send a written dispute notice to his counterpart and the facilitator. Often, the principals agree to use such a process later on at the time

they part. The other party responds to that dispute letter with their view of the dispute and a recommended resolution. The agreed upon facilitator either facilitates a resolution or if the parties wish, “rules� on the dispute. Such a ruling would be final, unless either litigation or arbitration is commenced by a dissatisfied owner. In a real life setting, the members of an LLC who engaged in such a process to resolve a major deadlock may wish to appoint the facilitator to serve as their third-party facilitator for other issues that might arise in the future. This process is informal and need not involve attorneys to represent each side. An alternative approach might be to require the parties to more formally mediate their differences by exchanging their respective views and then airing them out with a skilled independent neutral. The owners generally employ their own attorneys in this setting. If such mediation efforts do not succeed within a certain time, then either party could resort to a formal arbitration or lawsuit. Frequently, the very specter of a court hearing before someone wearing a black robe and sitting up high is sufficient incentive for the parities to work out a deal.

Valuation

Obviously, in any dissolution setting, the value of the company is crucial and oftentimes in dispute. Book value is almost never used, but one or more experienced appraisers will likely be retained to provide an opinion of value. Business owners themselves have a good idea of the value of their business but, not surprisingly, are inclined to overvalue their own interest, and devalue that of their counterpart. Situations involving dueling appraisers often arise out of litigation or arbitration, or some other dispute resolution process. Often, the principals put provisions for valuation in WashingtonCPA Fall 2015

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PARTING WAYS

their formation agreement. For example, if the parties cannot agree on value, the entity retains a neutral appraiser and the parties agree to use the appraiser’s valuation. There might be an additional clause providing for a second appraisal, and if the two appraisals are within 10% of the value of each other, then the average of the two is the accepted value. If the appraisals are more disparate than 10%, then the two appraisers would select a third appraiser whose valuation will be determinative. The possibilities here are boundless. The valuation process option often involves professionals who are already working for the company, such as a lawyer or accountant. The appraisers may request information from these professionals as a part of their engagement, and they should cooperate while staying neutral.

Voluntary Dissolution

When all else fails, the co-owners of a closely-held business can still mutually agree to dissolve their entity. In such a case, after the entity’s debts are paid, the principals will divide the net assets pro rata depending on their respective interests.The first step in such a termination is to value the company as a going concern, if it is to be sold as an operating busi-

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ness, or, if the operations are to cease, by liquidation of some sort, or an internal transfer between principals, much like a marital dissolution and property distribution. In all likelihood, the company accountant gets involved in this effort and should cooperate with all principals.

Judicial Dissolution

Often, when the relationship between the principals decays further, and litigation seems inevitable, one of the owners may seek a judicial dissolution. There are similar analogous legal processes in the law for dissolution of corporations, partnerships and LLCs. Any of the entity forms discussed here, closely-held corporations, partnerships, and limited liability companies, may be dissolved by a court, when the dispute between the owners substantially hinders the operation of the entity. Also, the court may intervene due to serious wrongdoing by another owner in a control or management position. Clearly, judicial dissolution is the least favored outcome, but may be the only viable path available if the parties disagree on whether to end the business or disagree on value and/or disagree on the procedures for winding up the entity so as to pay creditors and divide

the remaining net assets. As noted, “judicial dissolution” is the resolution of last resort. The company lawyer or accountant must keep in mind that their client is the entity, and not its owners. So, whenever professionals need to participate in the dissolution process, they must take care to avoid taking sides, or even create the appearance of doing so. Likewise, they should be even handed and cooperative with all the parties involved in the valuation process, e.g., the principals and the appraisers. Finally, hotly contested dissolutions destroy friendships and needlessly consume the assets of the entity in question. It’s in everyone’s interest, as early as possible, to reach a mutually agreeable dissolution of the closely-held entity and through collaborative means. David J. Lenci is an attorney in Ryan, Swanson & Cleveland, PLLC’s Litigation and Business groups. David can be reached at (206) 654-2265 or lenci@ryanlaw.com.

www.wscpa.org


EVENTS

Networking Events

networkingevents2015

puget sound

sponsors

Oct 22

Pyramid Brewery Networking Event, Seattle (16NPOC22) Members $25 | Non-members $30

Premier Partners

Nov 12

Leadership Lens Breakfast: Speak Sports. Talk Business. Seattle Renaissance Hotel (16NWNV01) Members $40 | Non-members $45

spokane Nov 17

Leadership Lens Lunch: Speak Sports. Talk Business. DoubleTree Hotel Spokane City Center (16NWNV02) Members $40 | Non-members $45

happy hours + other events Check online for happy hours and other networking events around the state.

Key Partners

Supporters

Friends

become a sponsor Contact Amy O’Donnell at (425) 586-1140 or aodonnell@wscpa.org for details.

register now www.wscpa.org/events

www.wscpa.org

WashingtonCPA Fall 2015

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CPA EXAM

Provide Your Input on Next Version of the CPA Exam

T

he American Institute of CPAs recently released an Exposure Draft on proposed changes to the Uniform CPA Examination for stakeholder review and input. The Exposure Draft, Maintaining the Relevance of the Uniform CPA Exam, is based on intensive research and input from the profession, and will serve as the basis for the next version of the CPA Exam, launching in 2017. The comment period opens today and runs through Nov. 30. The Exposure Draft is the next step in the practice analysis, an extensive research project to ensure that the CPA Exam supports the profession’s commitment to protect the public interest, and remains current, relevant and reliable. In addition, the Exam must be legally defensible and fulfill the needs of the boards of accountancy in carrying out their licensing responsibility. Changes to the CPA Exam will be announced in 2016. Important conclusions and proposed changes to the CPA Exam in the Exposure Draft include: •

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The CPA Exam will be designed to enhance the testing of higher

WashingtonCPA Fall 2015

order cognitive skills that include, but are not limited to, critical thinking, problem solving, analytical ability and professional skepticism. To test a combination of content knowledge and higher order skills, more task-based simulations (TBSs) are planned for the Exam. The Exam will remain structured by the four existing sections – Auditing and Attestation (AUD), Business Environment and Concepts (BEC), Financial Accounting and Reporting (FAR) and Regulation (REG). More informative blueprints for each section will replace Content Specification Outline (CSO) and Skill Specification Outline (SSO) and illustrate the knowledge and skills that will be tested on the CPA Exam. Total CPA Exam testing time will increase from 14 to 16 hours – four sections of four hours each.

“Increasing complexity in the business world and constant advances in technology have changed the knowledge and skills required of newly licensed CPAs. These professionals are being asked to perform more advanced tasks and work on complex projects early in their accounting careers,” said Michael Decker, vice president of examinations at the AICPA. “The proposed evolution of the CPA Exam is in line with what is required of newly licensed CPAs to protect the public interest in today’s dynamic economy.” The AICPA welcomes and encourages comments on the content of the Exposure Draft, as well as the future of practices analysis and future exam release. This valuable feedback plays a key role in shaping the development of this and future versions of the CPA Exam. The AICPA will consider all responses received on or before November 30, 2015. Submissions can be emailed to ExposureDraft@aicpa.org. The Exposure Draft is available online at aicpa.org/NextCPAExam.

www.wscpa.org


STATEMENT OF OWNERSHIP, MANAGEMENT,AND CIRCULATION (REQUIRED BY 39 U.S.C. 3685) 1. PublicationTitle:TheWashington CPA 2. Publication No.: 0000-9754 3. Filing Date: 1 October 2015 4. Issue Frequency: Quarterly 5. No. of Issues Published Annually: 4 6. Annual Subscription Price: $12 7. Complete Mailing Address of Known Office of Publication: 902 140th Avenue NE, Bellevue,Washington 98005-3480 8. Complete Mailing Address of Headquarters or General Business Office of Publisher: Same as #7 9. Full Names and Complete Mailing Addresses of Publisher, Editor, and Managing Editor: Publisher: Washington Society of Certified Public Accountants, Editor: Jeanette Kebede, Managing Editor: n/a, Washington Society of Certified Public Accountants, 902 140th Avenue NE, Bellevue, WA 98005-3480 10. Owner: Washington Society of Certified Public Accountants, 902 140th Avenue NE, Bellevue,WA 98005-3480 11. Known Bondholders, Mortgagees, and Other Security Holders Owning or Holding 1 Percent or More of Total Amount of Bonds, Mortgages, or Other Securities: None 13. Publication Name:The Washington CPA 14. Issue Date for Circulation Data Below: Summer 2015 15. Extent and Nature of Circulation (Avg. No. Copies Each Issue During Preceding 12 Months, Actual No. Copies of Single Issue Published Nearest to Filing Date). a.Total No. Copies (Net press run): 8,505; 7,350 b. Paid Circulation (By Mail and Outside the Mail): (1) Mailed Outside-County Paid Subscriptions Stated on PS Form 3541: 4116; 3648. (2) Mailed In-County Subscriptions Stated on PS Form 3541: 3818; 3368. (3) Paid Distribution Outside the Mail Including Sales through Dealers and Carriers, Street Vendors, Counter Sales, and Other Paid Distribution Outside USPS: n/a, n/a. (4) Paid Distribution by Other Classes of Mail Through the USPS (e.g., First-Class Mail速): n/a, n/a c.Total Paid Distribution [Sum of 15b (1), (2), (3) and (4)]: 7934; 7016 d. Free or Nominal Rate Distribution (By Mail and Outside the Mail): (1) Free on Nominal Rate Outside-County Copies included on PS Form 3541: 70, 22 (2) Free on Nominal Rate In-County Copies included on PS Form 3541: 35, 15 (3) Free or Nominal Rate Copies Mailed at Other Classes Mailed Through the USPS: 0, 0 (4) Free or Nominal Rate Distribution Outside the Mail: 25, 17 e.Total Free or Nominal Rate Distribution (Sum of 15c and 15e): 130, 54 f.Total Distribution (Sum of 15f and g): 8064; 7070 g. Copies not Distributed: 441; 280 h.Total (Sum of 15f and g): 8505; 7350 i. Percent Paid: 98%, 99% 16. 16. Electronic Copy Circulation (Avg. No. Copies Each Issue During Preceding 12 Months,Actual No. Copies of Single Issue Published Nearest to Filing Date): a. Paid Electronic Copies: n/a, n/a b.Total Paid Print Copies (Line 15c) + Paid Electronic Copies (Line 16a): 7934 ; 7016 c.Total Print Distribution (Line 15f) + Paid Electronic Copies (Line 16a): 8064; 7070 d. Percent Paid (Both Print & Electronic Copies) (16b divided by 16c x 100): 98%, 99%. I certify that 50% of all my distributed copies (electronic and print) are paid above a nominal price. 17. Publication of Statement of Ownership. If the publication is a general publication, publication of this statement is required.Will be printed in the Fall 2015 issue of this publication. 18. Signature and Title of Editor, Publisher, Business Manager, or Owner: Jeanette Kebede. Date 9/30/15

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WASHINGTON CPA FOUNDATION

We Need Your Help Now More Than Ever By Kimberly Scott, CAE

H

opefully you have heard the great news regarding the $3.3 million the Washington CPA Foundation will be receiving over the next two years. If not, be sure to read Rich Jones’ column on page 4 about the Washington CPA Scholarship Program. It is amazing news and we are excited to roll out this program. However, there is a lot to be done now and over the next decade, and we need your help.

Scholarship Changes Coming This Year

The Foundation has been honored to provide scholarships to about 20 promising accounting students each year. This year we will be changing the scholarship amount from $3,000 each to $5,000 each. This change will make Foundation scholarships one of the largest scholarships awarded. Scholarship recipients will be selected by March 2016 and be awarded in the fall. Under the new program, the number of scholarships awarded will double this first year. That means we need to get the word out on university and community college campuses around the state. We know many CPAs volunteer to speak in classrooms, on panels, or at recruiting

events. If you do, please mention these scholarships and encourage students to apply. We are happy to provide you with talking points and literature.To qualify for scholarships students must be attending a school in Washington State, be an accounting major, and be in their junior year or higher (up to Ph.D.) when they receive the award. Other qualifications are online at www.wscpa.org/becomea-cpa/scholarships.

Volunteer Opportunities

If you are not visiting college campuses but are interested in volunteering, please let us know. There are opportunities at campuses and on the

scholarship review committee. To sign up as a volunteer contact Monette Anderson, manderson@wscpa.org, or Elizabeth Faircloth, efaircloth@wscpa.org.

New Foundation Grants

The new funding provides opportunities for the Foundation as well. The Trustees are establishing grants to help increase the number of under-represented minority students entering into the profession. This has been a concern at a national level for many years. The accounting programs are at capacity in most universities, but the demographics of the students do not match the demographics of the changing client base for

A Legacy of Supporting Future CPAs: Recognizing Roy and Linda Polley In 2010 Roy J. Polley received the WSCPA President/ CEO’s Award for a lifetime of dedication to the CPA profession as an accounting educator. During his career Mr. Polley taught more than 15,000 accounting students, many of whom became CPAs. Most of his students recall him as a mentor and a champion of the profession. Mr. Polley passed away shortly after receiving the award, but his devotion to the profession did not end with his passing. A Roy J. Polley Memorial Scholarship fund was established through the Washington CPA Foundation by the Polley’s to help aspiring CPA students. Roy’s widow, Linda C. Polley, truly enjoyed meeting their scholarship

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winner each year, and continuing the legacy of encouraging the next generation of CPAs. In recognition of Roy’s unwavering commitment to the profession, the WSCPA Board of Directors recently approved naming a classroom in the WSCPA Learning Center in his honor. Sadly, Mrs. Polley passed away before the news of the dedication could be shared with her. She left a substantial portion of the Polley estate to the Foundation to create an endowment. Those of us who were fortunate enough to have met Linda will miss her dearly.

www.wscpa.org


WASHINGTON CPA FOUNDATION

CPA firms. The challenges identified at the national level include: lack of both student awareness of the profession and mentors or champions. We know many individuals and firms are also concerned about this. Please watch for more information in the coming months.

Building an Endowment

The Foundation is also looking to the future. As amazing as the new Washington CPA Scholarship Program and its $3.3 million is, it is not considered an endowment and is meant to help get students into the accounting profession now. We expect the funds will last at least 15 years, but that is not forever. It does, however, provide time for the

www.wscpa.org

Foundation to build an endowment that would provide scholarships at the same level for many generations to come. Your contributions still count, and will continue to make a difference in a student’s life. You can make a tax-deductible contribution to the Foundation any time at www.wscpa.org/foundation. If you have contributed to the Foundation in the past, or plan to in the future, thank you! There is a lot of competition for the talented students studying finance and accounting. Your support of the Foundation moves them toward the CPA designation and makes a difference. The cost of tuition is high, and needing five years of college to sit for the exam

is an obstacle. Then there is the obvious challenge of passing the exam itself. Past scholarship winners have told us that every dollar counts. Hear this directly from some past scholarship winners at www.wscpa.org/foundation/videos. I hope you will help us get the word out to students about the new scholarship opportunities! Kimberly Scott, CAE, is Executive Director of the Washington CPA Foundation. You can contact her at kscott@wscpa.org.

WashingtonCPA Fall 2015

29


30

WashingtonCPA Fall 2015

www.wscpa.org


CPE Digest Halloween Heidi, CPA

So many tempting ethics courses, all with excellent instructors, how can I choose?

Carving out time for ethics CPE is not as exciting as carving a jack-o-lantern, but the WSCPA makes it easy to find an ethics course with options around the state and webcasts.

Carve out time to take your ethics CPE!

Mark Hugh

Tom Neill

Jim Rigos

Washington CPA Ethics and New Developments by Mark Hugh (A WA Requirement)

Rules Regulations and Ethics for CPAs in Washington by Thomas Neill (A WA Requirement)

Washington CPA Regulatory Ethics by James Rigos (A WA Requirement)

Nov 4 Bellevue Dec 8 Olympia Dec 15 Spokane

Dec 7 Lynnwood Dec 16 Bellevue

Dec 1 Seattle Dec 18 Tacoma Mar 15 Bellevue

Oregon and Washington Ethics: New Developments Dec 2

Portland, OR

www.wscpa.org

www.wscpa.org/cpe/catalog Webcasts also available: www.wscpa.org/cpe/ethics WashingtonCPA Fall 2015

31


Register at www.wscpa.org/cpe/catalog or page 45

EDUCATION AND EVENTS

Fees

Date

CPE Credits

Course

Code

EVENTS #BY LOCATION WSCPA education and events scheduled for October 2015 January 2016 are listed below, chronologically by location. If you are looking for a program in another location, it may be scheduled for later in the year. Using the online CPE & Event Catalog at www.wscpa.org/cpe/ catalog, you can search by location. Type

LEARN MORE To view complete course details, please visit the CPE & Event Catalog at www.wscpa.org/cpe/catalog.

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

WSCPA NonAICPA Member Member Member Discount Fee Fee

NEW CPE events added throughout year to: www.wscpa.org/cpe/catalog

Facility

A&A CS EB PFP

SUBJECTS The main subject area is listed for each program.

Ethics GNP MG PD SK TAX

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

TEC

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

Fees

Date

CPE Credits

#

Course

Type

Subject

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

Facility

Ø

Subject

Bellevue 10/19

8

Financial Statement Analysis: Basis for Management Advice, 8am-4pm

16FSABMOC

295

395

-30

WSCPA

Webcast also available

16WWFSABMO

285

385

-30

Webcast

Annual Update for Controllers, 8am-4pm

16SKSBOC20

295

395

-30

WSCPA

-30

Webcast

A&A

10/20

8

Webcast also available

16WWSKSBOC

285

385

10/20

8

Like Kind Exchanges & Involuntary Conversions, 8am-4pm

16EXCHOC20

295

395

WSCPA

TAX

10/21

8

Capital, Ordinary & Section 1231 Gains, 8am-4pm

16COSGOC21

295

395

WSCPA

TAX

10/21

8

Yellow Book: Government Auditing Standards, 8am-4pm

16EOYBOC

295

395

-30

WSCPA

GNP

Webcast also available

16WWEOYBOC

285

385

-30

Webcast

Audit Workpapers: Documenting and Reviewing Field Work, 8am-4pm

16AUDWOC

Y

MG

10/22

8

295

395

-30

WSCPA

A&A

10/22

8

Y

Frequent Frauds Found in Governments and Not-For-Profits, 8am-4pm

16FFGNOC

295

395

-30

WSCPA

GNP

10/23

8

Y

Advanced Auditing of HUD-Assisted Projects, 8am-4pm

16EOAHUDOC

295

395

-30

WSCPA

GNP

Webcast also available

16WWEOAHUD

285

385

-30

Webcast

10/23

8

Internal Control and COSO Essentials for Financial Managers, Accountants and Auditors, 8am-4pm

16ICDADOC

295

395

-30

WSCPA

A&A

10/26

8

Advanced Business Law for CPAs, 8am-4pm

16ABLTOC26

295

395

-30

WSCPA

MG

Webcast also available

16WWABLTOC

285

385

-30

Webcast

10/27

8

Multistate Income Tax, 8am-4pm

16MITOC

295

395

-30

WSCPA

-30

Webcast

Webcast also available

16WWMITOC

285

385

10/27

8

The Best Individual Income Tax Update Course by Surgent, 8am-4pm

16BITUOC

310

410

10/28

8

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

16FCFSOC

295

395

Webcast also available

16WWFCFSOC

285

10/28

8

Tax Considerations and Consequences for Closely Held Businesses, 8am4pm

16CHTXOC

295

10/29

8

Excel Financial Reporting and Analysis, 8am-4pm

16EFROC29

295

10/29

8

The Best S Corporation, Limited Liability, and Partnership Update Course by Surgent, 8am-4pm

16BCPEOC29

Webcast also available 10/30

8

10/30

8

11/2

4

Y

11/2

4

Y

WSCPA

TAX

-30

WSCPA

A&A

385

-30

Webcast

395

-30

WSCPA

TAX

395

WSCPA

TEC

310

410

WSCPA

TAX

16WWBCPEOC

300

400

Webcast

Business Continuity - K2's Best Practices for Managing the Risks, 8am-4pm

16BCOOC30

295

395

WSCPA

TEC

Getting More Active with the Passive Activity Rules & the New Net Investment Income Tax, 8am-4pm

16PAITOC30

310

410

WSCPA

TAX

Webcast also available

16WWPAITOC

300

400

Webcast

Not-for-Profit Accounting and Auditing Update, 12:30pm-4pm

16CL4NAUNV

150

200

WSCPA

GNP

Not-for-Profit Accounting and Auditing: Practical Cases for CPAs, 8am-11:30am

16CL4CNFPN

150

200

WSCPA

GNP

ç New |  Non-tech credits |

32

TAX

Webcast from WSCPA | E Ethics credits |  Conference | Y Yellow Book | C CFP | l Chapter event | S Season Ticket/Coupons N/A |

WashingtonCPA Fall 2015

Networking event

www.wscpa.org


Register at www.wscpa.org/cpe/catalog or page 45

EDUCATION AND EVENTS Fees

Date

CPE Credits

#

Course

Code

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

Type

WSCPA NonAICPA Member Member Member Discount Fee Fee

Subject

WSCPA

A&A

WSCPA

Ethics

WSCPA

A&A

11/3

8

Y

Governmental Accounting and Reporting, 8am-4pm

16GARNV

295

395

11/4

4

E

Washington CPA Ethics and New Developments by Mark Hugh (A WA Requirement), 8am-11:30am

16ETMHNV04

185

225

11/5

8

Common Frauds and Internal Controls for Revenue, Purchasing and Cash Receipts, 8am-4pm

16CFICNV

295

395

11/5

8

Federal Estate and Gift Tax Returns - Forms 706 and 709 Workshop, 8am4pm

16GIFTNV

310

410

WSCPA

TAX

11/6

8

What's Next: 10 Success Factors to Best Manage Retirement, 8am-4pm

16WNSFNV

295

395

WSCPA

PD

11/9

8

Excel Best Practices, 8am-4pm

16EBPNV09

295

395

WSCPA

TEC

11/9

8

Preparing Form 1041: Understanding the Basics, 8am-4pm

16PF41NV09

300

400

WSCPA

TAX

Webcast also available

16WWPF41NV

290

390

Webcast

-30

Facility

-30

11/10

8

Excel Pivot Tables for Accountants, 8am-4pm

16EPTNV10

295

395

WSCPA

TEC

11/10

8

Preparing Form 1065: Understanding the Basics, 8am-4pm

16PF65NV10

300

400

WSCPA

TAX

Webcast also available

16WWPF65NV

290

390

Webcast

College Financial Aid - The Best Kept Secret in America, 8am-12pm

16CFANV11

115

165

WSCPA

Webcast also available

16WWCFANV

105

155

Webcast

11/11

4.5

SK

11/12

8

Federal Tax Update - Individuals (Form 1040), 8am-4pm

16FTUINV

305

405

WSCPA

TAX

11/12

8

Installment Sales and Depth (Tax Course), 8am-4pm

16ISDNV12

295

395

WSCPA

TAX

11/13

8

Accounting & Auditing Conference, 8am-4:10pm

16AAC

335

435

Meydenbauer Center

A&A

Webcast also available

16WBAAC

315

415

Webcast

11/13

8

Discharge of Debt Rules, 8am-4pm

16DODRNV13

295

395

WSCPA

TAX

11/13

8

Federal Tax Update - C & S Corporations, Partnerships & LLCs (Forms 1120, 1120S & 1065), 8am-4pm

16FTUBNV

305

405

Sheraton

TAX

11/13

8

International Taxation, 8am-4pm

16ITTFNV

295

395

WSCPA

TAX

11/16

8

Financial Statement Analysis -- A Realistic Approach, 8am-4pm

16FSANV16

295

395

WSCPA

A&A

11/16

8

Transforming Your Role as Controller to Business Partner, 8am-4pm

16COBPNV

295

395

WSCPA

MG

11/17

8

Audit Efficiency Workshop - A Realistic Approach, 8am-4pm

16AEWNV17

295

395

WSCPA

A&A

11/17

8

Taxation Essentials of LLCs and Partnerships, 8am-4pm

16TLLLONV

295

395

WSCPA

TAX

11/18

8

Cutting Edge Tax Strategies: Everything You Always Wanted to Know about Real Estate (But Were Afraid to Ask), 8am-4pm

16CERENV18

295

395

WSCPA

TAX

11/18

8

Gaining and Sustaining a Competitive Advantage: Keys to Boost the Bottom Line, 8am-4pm

16GSCANV

295

395

-30

WSCPA

MG

11/19

8

Advanced Tax Strategies for S Corporations, 8am-4pm

16ADVSCNV

295

395

-30

WSCPA

TAX

11/19-20

16

Partnership Taxation, 8am-4pm

16PTSNV19

515

640

WSCPA

TAX

11/20

8

Slashing Taxes for Your Small Business Clients: Corporations, Partnerships, & LLCs, 8am-4pm

16STSBNV

295

395

WSCPA

TAX

11/23

8

Private Company Accounting: New Directions, New Challenges, 8am-4pm

16PCANV

295

395

WSCPA

A&A

11/23

16

Tax Staff Training - Level 2 - Business, 8am-4pm

16TSTBNV23

525

650

WSCPA

TAX

11/24

8

Financial Management Skills: Become a Financial Leader, 8am-4pm

16FMSNV

295

395

WSCPA

MG

11/30-31

16

Annual Accounting and Auditing Workshop, 8am-4pm

16AAUWNV30

515

640

-60

WSCPA

A&A

-30 -30 -30

-30

Webcast also available

16WWAAUWNV

505

630

-60

Webcast

11/30

8

Federal Income Tax Accounting: Maximizing Tax Benefits and Minimizing Tax Costs, 8am-4pm

16INCTNV

295

395

-30

WSCPA

TAX

12/1

8

Advanced Tax Strategies for LLCs and Partnerships, 8am-4pm

16DTTDE

295

395

-30

WSCPA

TAX

12/2

8

Construction Contractors: Accounting, Auditing and Tax, 8am-4pm

16CAATDE

295

395

-30

WSCPA

A&A

Webcast also available

16WWCAATDE

285

385

-30

Webcast

Taxation for Individuals Living Abroad, 8am-4pm

16TILADE

295

395

-30

WSCPA

TAX

Governmental and Not-for-Profit Annual Update, 8am-4pm

16GNAUDE

295

395

-30

WSCPA

GNP

Webcast also available

16WWGNAUDE

285

385

-30

Webcast

Nexus Update: Latest Developments in State Income, Franchise, and Sales Taxes, 8am-4pm

16NXUPDE

295

395

-30

WSCPA

12/2

8

12/3

8

12/3

Y

8

ç New |  Non-tech credits |

www.wscpa.org

Webcast from WSCPA | E Ethics credits |  Conference | Y Yellow Book | C CFP | l Chapter event | S Season Ticket/Coupons N/A |

TAX

Networking event

WashingtonCPA Fall 2015

33


Register at www.wscpa.org/cpe/catalog or page 45

EDUCATION AND EVENTS

Fees

Date

CPE Credits

# 12/4

8

12/4

8

Course

Code

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

Type

WSCPA NonAICPA Member Member Member Discount Fee Fee

Facility

Subject

Fraud Conference, 8am-4pm

16FDC

270

370

Courtyard Marriott

A&A

S Corporations: Key Issues, Compliance and Tax Strategies, 8am-4pm

16SCORPDE

295

395

-30

WSCPA

TAX

-30

Webcast

Webcast also available

16WWSCORPD

285

385

12/4

8

The Best Federal Tax Update Course by Surgent, 8am-4pm

16BFTUDE

310

410

12/7

8

Annual Tax Update: Corporations and Pass Through Entities, 8am-4pm

16ATCPDE

295

395

12/7

8

GAAS: A Comprehensive Review for Auditors, 8am-4pm

16GENADE

295

Webcast also available

16WWGENADE

285

Fundamentals for Performing a Single Audit Under the Uniform Guidance for Federal Awards, 8am-4pm

16BAUGDE

WSCPA

TAX

-30

WSCPA

TAX

395

-30

WSCPA

A&A

385

-30

Webcast

295

395

-30

WSCPA

12/8

8

Webcast also available

16WWBAUGDE

285

385

-30

Webcast

12/8

8

Hottest Tax Topics for 2015, 8am-4pm

16HOTDE

295

395

-30

WSCPA

TAX

12/9

8

Revenue Recognition: Mastering the New FASB Requirements, 8am-4pm

16INRRDE

295

395

-30

WSCPA

A&A

12/10

8

Alternatives to GAAP - Using Special Purpose Frameworks, 8am-4pm

16CTBDE

295

395

-30

WSCPA

A&A

Webcast also available

16WWCTBDE

285

385

-30

Webcast

Y

12/10

8

Multigenerational Financial and Tax Planning for Clients, 8am-4pm

16MGENDE

310

410

12/11

8

IFRS Standards: Financial Reporting in a Global Environment, 8am-4pm

16REIFDE

295

395

12/11

8

Surgent's Advanced Individual Income Tax Return Issues, 8am-4pm

16STRIDE

310

Webcast also available

16WWSTRIDE

12/14

8

A Practical Guide To Small Business health Insurance and Fringe Benefits: 2015 and Beyond, 8am-4pm

16OBCRDE14

12/14

8

Forensic Accounting Investigative Practices, 8am-4pm

12/14-15

16

12/15

8

12/15

8

12/16

4

12/16

4

12/17

A&A

WSCPA

TAX

WSCPA

A&A

410

WSCPA

TAX

300

400

Webcast

310

410

WSCPA

TAX

16FAIPDE14

295

395

-30

WSCPA

A&A

Webcast also available

16WWFAIPDE

285

385

-30

Webcast

Information Technology Conference, 8am-4pm

16ITC

615

715

Meydenbauer Center

TEC

Surgent’s Handbook for Mastering Basis, Distributions, and Loss Limitation Issues for S Corporations, LLCs, and Partnerships, 8am-4pm

16HMBIDE

310

410

WSCPA

TAX

Webcast also available

16WWHMBIDE

300

400

Webcast

Washington State Community Property and Estate Tax Law Update, 8am4pm

16WKCPDE15

295

395

WSCPA

TAX

E

Rules Regulations and Ethics for CPAs in Washington by Thomas Neill (A WA Requirement) - AFTERNOON, 12:30pm-4pm

16ETTNDEP

185

225

WSCPA

Ethics

E

Rules Regulations and Ethics for CPAs in Washington by Thomas Neill (A WA Requirement) - MORNING, 8am-11:30am

16ETTNDEA

185

225

WSCPA

Ethics

16

Accounting and Reporting Standards: The Annual Update and Review of GAAP, Special Purpose Frameworks, the Compilation and Review Standards, and the AICPA Auditing Standards by Walter Haig, 8am-4pm

16ARSURDE

570

695

WSCPA

A&A

12/21

8

IRS Practice and Procedure: Audit, Appeals, Assessment, Settlement & Collection, 8am-4pm

16IPPDE21

300

400

WSCPA

TAX

12/21

8

Unraveling the At Risk Rules, 8am-4pm

16UARDE21

295

395

WSCPA

TAX

Webcast also available

16WWUARDE

285

385

Webcast

-30

12/22

8

HSAs, HRAs, and FSAs: Health Care Options After Affordable Care, 8am4pm

16HSAHDE22

300

400

WSCPA

TAX

12/22

8

Passive activity Losees A-Z, 8am-4pm

16PALDE22

295

395

WSCPA

TAX

Webcast also available

16WWPALDE

285

385

Webcast

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

16CRURDE28

315

415

WSCPA

Webcast also available

16WWCRURDE

305

405

Webcast

Accounting Standards for Small- and Medium-Sized Businesses: the Annual Update and Review of GAAP and the Tax, Cash, and AICPA Special Purpose Frameworks by Walter Haig, 8am-4pm

16ASURDE29

315

415

WSCPA

Webcast also available

16WWASURDE

305

405

Webcast

The Business Financial Health Checkup: A Process to Identify Misstatements and Profitability Roadblocks Using Analytical Procedures by Walter Haig, 8am-4pm

16BFHCDE30

315

415

WSCPA

12/28

8

12/29

8

12/30

8

ç New |  Non-tech credits |

34

A&A

A&A

A&A

Webcast from WSCPA | E Ethics credits |  Conference | Y Yellow Book | C CFP | l Chapter event | S Season Ticket/Coupons N/A |

WashingtonCPA Fall 2015

Networking event

www.wscpa.org


Register at www.wscpa.org/cpe/catalog or page 45

EDUCATION AND EVENTS Fees

Date

CPE Credits

# 1/11

8

1/12

8

1/14

Course

Code

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

Type

8

WSCPA NonAICPA Member Member Member Discount Fee Fee

Facility

Subject

TAX

Preparing Individual Tax Returns for New Staff and Para-Professionals, 8am4pm

16PITRJA

310

410

WSCPA

Webcast also available

16WWPITRJA

300

400

Webcast

Tax Forms Boot Camp: LLCs, Partnerships, and S Corporations, 8am-4pm

16TFBCJA

310

410

WSCPA

Webcast also available

16WWTFBCJA

300

400

Webcast

Key Tax Issues Facing Members In Industry: Affordable Care Act and Other Updates, 8am-4pm

16KEYIJA14

295

395

WSCPA

Webcast also available

16WWKEYIJA

295

395

Webcast

Cutting Edge Tax Strategies: Everything You Always Wanted to Know about Real Estate (But Were Afraid to Ask), 8am-4pm

16CEREJA18

295

395

WSCPA

TAX

TAX

1/18

8

TAX

Webcast also available

16WWCEREJA

285

385

Webcast

1/25

8

The Business Financial Health Checkup: A Process to Identify Misstatements and Profitability Roadblocks Using Analytical Procedures by Walter Haig, 8am-4pm

16BFHCJA25

315

415

WSCPA

A&A

1/26

8

2015 Tax Advisors Update, 8am-4pm

16BTAUJA26

345

445

Meydenbauer Center

TAX

Webcast also available

16WWBTAUJA

335

435

Webcast

1/26

8

Accounting Standards for Small- and Medium-Sized Businesses: the Annual Update and Review of GAAP and the Tax, Cash, and AICPA Special Purpose Frameworks by Walter Hai, 8am-4pm

16ASURJA26

315

415

WSCPA

A&A

1/27

8

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

16CRURJA27

315

415

WSCPA

A&A

Webcast also available

16WWCRURJA

305

405

Webcast

1/28

8

The Personal Financial Health Checkup: a process on how to become “financially self-sufficient” by Walter J. Haig, 8am-4pm

16PFHCJA28

315

415

WSCPA

A&A

1/29

8

AICPA's Annual Federal Tax Update, 8am-4pm

16PTUJA

295

395

-30

WSCPA

TAX

Webcast also available

16WWPTUJA

285

385

-30

Webcast

Bellingham 11/17

8

Annual Update for Compilation and Review Engagements, 8am-4pm

16CORUNV17

295

395

-30

Best Western Lakeway

A&A

11/18

8

Annual Update for Accountants and Auditors, 8am-4pm

16AUAANV18

295

395

-30

Best Western Lakeway

A&A

12/2

8

A Practical Guide To Small Business Health Insurance and Fringe Benefits: 2015 and Beyond, 8am-4pm

16OBCRDE02

310

410

Best Western Lakeway

TAX

12/3

8

The Complete Guide to Payroll Taxes and 1099 Issues, 8am-4pm

16CGPTDE03

310

410

Best Western Lakeway

TAX

12/4

8

Complete Strategies for Maximizing Contributions, Rollovers, Distributions, and Estate Planning of IRAs, SIMPLEs, SEPs, and Roths, 8am-4pm

16CIRADE

310

410

Best Western Lakeway

TAX

12/14

8

Federal Tax Update - Individual & Business Current Developments, 8am-4pm

16FTCDDE

305

405

Best Western Lakeway

TAX

11/5

8

Annual Update for Accountants and Auditors, 8am-4pm

16AUAANV05

295

395

-30

Hilton Garden Inn

A&A

11/6

8

Annual Update for Compilation and Review Engagements, 8am-4pm

16CORUNV06

295

395

-30

Hilton Garden Inn

A&A

11/20

8

Washington Tax and New Developments, 8am-4pm

16WSTXNV20

295

395

Hilton Garden Inn

TAX

12/3

8

Vacation Home, Business Use of Home & Hobby Losses, 8am-4pm

16VHBDE03

295

395

Hilton Garden Inn

TAX

12/4

8

Interest Expense, Imputed Interest & Original Issue Discount, 8am-4pm

16IEDDE04

295

395

Hilton Garden Inn

TAX

12/17

8

Fiduciary Income Tax Returns - Form 1041 Workshop, 8am-4pm

161041DE17

310

410

Hilton Garden Inn

TAX

12/18

8

The Best Income Tax, Estate Tax, and Financial Planning Ideas of 2014, 8am-4pm

16IEFPDE18

310

410

Hilton Garden Inn

TAX

Washington State Tax New Developments, 7:30am-9:30am

16CHEVST08

40

50

Holiday Inn Everett

TAX

8

Federal Tax Update - Individual & Business Current Developments, 8am4pm

16FTCDNV

305

405

Three Rivers Conv Ctr

TAX

11/23

4

Practical Tax Tips and Techniques for Closely- Held Businesses, 12:30pm-4pm

16CL4CHTXN

153

203

Williams Conf Ctr

TAX

11/23

4

Social Security and Medicare: Maximizing Retirement Benefits, 8am-11:30am

16CL4SSMNV

153

203

Williams Conf Ctr

TAX

Bothell

Everett 9/8

2

l S

Kennewick 11/11 Lewiston

ç New |  Non-tech credits |

www.wscpa.org

Webcast from WSCPA | E Ethics credits |  Conference | Y Yellow Book | C CFP | l Chapter event | S Season Ticket/Coupons N/A |

Networking event

WashingtonCPA Fall 2015

35


There’s a better way to get a new perspective on your work Attend WSCPA Conferences

36

WashingtonCPA Fall 2015

www.wscpa.org


2015-16 Conferences Great topics - phenomenal speakers opportunities too amazing for you to miss! November 4-5 Pacific Tax Institute November 13 Accounting & Auditing Conference November 16-17 Pacific NW Construction Industry Conference November 19-20 Not-For-Profit Conference December 4 Fraud Conference December 14-15 Information Technology Conference

April 25-26 Governmental Accounting & Auditing Conference May 9 International Tax Conference May 17 Health Care Conference May 18 Women’s Leadership Summit June 25 Washington State Tax Conference August 2 Farm Tax Conference webcast available

REGISTER NOW www.wscpa.org/conferences | (425) 644-4800 www.wscpa.org

WashingtonCPA Fall 2015

37


Register at www.wscpa.org/cpe/catalog or page 45

EDUCATION AND EVENTS

Fees

Date

CPE Credits

# 11/24

Course

Code

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

Type

8

WSCPA NonAICPA Member Member Member Discount Fee Fee

-30

Facility

Subject

Williams Conf Ctr

TAX

Annual Tax Update: Individuals and Sole Proprietors (Idaho), 8am-4pm

16TSUINV24

305

405

Rules Regulations and Ethics for CPAs in Washington by Thomas Neill (A WA Requirement), 8am-11:30am

16ETTNDE07

185

225

Convention Center

Ethics

Lynnwood 12/7

4

12/15

8

Federal Tax Update - Individuals (Form 1040), 8am-4pm

16FTUIDE

305

405

Convention Center

TAX

12/16

8

Federal Tax Update - C & S Corporations, Partnerships & LLCs (Forms 1120, 1120S & 1065), 8am-4pm

16FTUBDE

305

405

Convention Center

TAX

12/7

8

Washington Tax and New Developments, 8am-4pm

16WSTXDE07

295

395

Indian Summer Golf & Country Club

TAX

12/8

4

E

Washington CPA Ethics and New Developments by Mark Hugh (A WA Requirement), 8am-11:30am

16ETMHDE08

185

225

Indian Summer Golf & Country Club

Ethics

12/2

4

E

Oregon and Washington Ethics: New Developments, 8am-11:45am

16WOETHDE

189

239

Oregon Conv Ctr

Ethics

12/15

8

The Annual Update and Review of GAAP and the Tax, Cash, and AICPA Special Purpose Frameworks for Small & Medium-Sized Businesses, 8am-4pm

16GSMEDE15

330

430

Sheraton Airport Hotel

A&A

12/16

8

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

16CRURDE16

330

430

Sheraton Airport Hotel

A&A

E

Olympia

Portland

Seattle 10/22

0

S 

Pyramid Brewery Networking Event, 6pm-8:30pm

16NPOC22

25

30

Pyramid Ale House

PD

11/4-5

16

Pacific Tax Institute, 8am-4:30pm

16PTI

720

820

Bell Harbor Conf Ctr

TAX

Webcast also available

16WBPTI

660

760

Webcast

TAX

11/16-17

16

Pacific NW Construction Industry Conference, 8am-4:30pm

16CIC

605

705

Bell Harbor Conf Ctr

SK

11/19-20

16

Not-For-Profit Conference, 8am-4:30pm

16NFPC

470

570

Bell Harbor Conf Ctr

GNP

Webcast also available

16WBNFPC

440

540

Webcast

GNP

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

16ETJRDE01

185

225

Best Western Executive

Ethics

Bell Harbor Conf Ctr

TAX

12/1

4

1/25

8

2015 Tax Advisors Update, 8am-4pm

16BTAUJA25

345

445

11/5

8

Advanced Business Law for CPAs, 8am-4pm

16ABLTNV05

295

395

-30

Hampton Inn

MG

11/6

8

Annual Update for Controllers, 8am-4pm

16SKSBNV06

295

395

-30

Hampton Inn

MG

11/12

8

Social Security, Medicare, and Prescription Drug Retirement Benefits: What Every Baby Boomer Needs to Know Now, 8am-4pm

16SSRBNV12

310

410

Hampton Inn

TAX

11/13

8

Surgent's Individual and Financial-Planning Tax Camp, 8am-4pm

16IFCPNV

310

410

Hampton Inn

TAX

11/23

8

Accounting Standards for Small- and Medium-Sized Businesses: the Annual Update and Review of GAAP and the Tax, Cash, and AICPA Special Purpose Frameworks by Walter Haig, 8am-4pm

16ASURNV23

315

415

Hampton Inn

A&A

11/24

8

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

16CRURNV24

315

415

Hampton Inn

A&A

12/1

8

Surgent's Advanced Critical Tax Issues for Limited Liability Companies and Partnerships, 8am-4pm

16ACTLDE

310

410

Hampton Inn

TAX

12/2

8

Effective and Efficient Senior-Level Review of Individual Tax Returns, 8am-4pm

16ERTWDE

310

410

Hampton Inn

TAX

12/14

8

Washington Tax and New Developments, 8am-4pm

16WSTXDE14

295

395

Hampton Inn

TAX

12/15

4

Washington CPA Ethics and New Developments by Mark Hugh (A WA Requirement), 8am-11:30am

16ETMHDE15

185

225

Hampton Inn

Ethics

12/17

8

Excel Tips, Tricks and Techniques for Accountants, 8am-4pm

16EXLDE17

295

395

Hampton Inn

TEC

12/18

8

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

16TECDE18

295

395

Hampton Inn

TEC

1/12

0

Happy Hour Networking Event, 5pm-7pm

16NPJA12

0

0

Steam Plant Grill

PD

1/27

8

2015 Tax Advisors Update, 8am-4pm

16BTAUJA27

345

445

Mirabeau Park Hotel

TAX

10/26

8

The Complete Guide to Payroll Taxes and 1099 Issues, 8am-4pm

16CGPTOC26

310

410

Pacific Grill Events Ctr

TAX

10/27

8

Revenue Recognition: Mastering New FASB Requirements, 8am-4pm

16INRROC

295

395

Pacific Grill Events Ctr

A&A

E

Spokane

E

S 

Tacoma

ç New |  Non-tech credits |

38

-30

Webcast from WSCPA | E Ethics credits |  Conference | Y Yellow Book | C CFP | l Chapter event | S Season Ticket/Coupons N/A |

WashingtonCPA Fall 2015

Networking event

www.wscpa.org


Register at www.wscpa.org/cpe/catalog or page 45

EDUCATION AND EVENTS Fees

Date

CPE Credits

#

Course

Code

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

Type

WSCPA NonAICPA Member Member Member Discount Fee Fee

-30

Facility

Subject

Pacific Grill Events Ctr

A&A

Pacific Grill Events Ctr

TAX

Courtyard Marriott

TAX

11/4

8

Internal Control Best Practices for Small- and Medium-Sized Entities, 8am-4pm

16ICSMNV04

295

395

11/6

8

Fiduciary Income Tax Returns - Form 1041 Workshop, 8am-4pm

161041NV06

310

410

11/16

8

Annual Tax Update: Individuals & Sole Proprietors (Tacoma), 8am-4pm

16TSUINV16

295

395

12/3

8

The Best S Corporation, Limited Liability, and Partnership Update Course by Surgent, 8am-4pm

16BCPEDE03

310

410

Pacific Grill Events Ctr

TAX

12/10

8

Annual Accounting and Auditing Update, 8am-4pm

16AAUDDE10

295

395

Pacific Grill Events Ctr

A&A

12/11

8

Compilation and Review Annual Update -- A Seminar Designed For Smaller Firms, 8am-4pm

16CRAUDDE

295

395

Pacific Grill Events Ctr

A&A

12/14

8

Washington State Community Property and Estate Tax Law Update, 8am-4pm

16WKCPDE14

295

395

Courtyard Marriott

TAX

12/15

8

Identity Theft: Preventing, Detecting, and Investigating, 8am-4pm

16IDENTDE

295

395

Pacific Grill Events Ctr

A&A

12/18

4

E

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

16ETJRDE18

185

225

Pacific Grill Events Ctr

Ethics

1

l S

Affordable Care Act Reporting Requirements, 3:30pm-5:30pm

16CHVNOC22

30

35

Heathman Lodge

TAX

-30

-30

Vancouver 10/22 Your Desk

Enterprise Risk Management for Small and Medium-Sized Enterprises: Enhance Fraud Protection and Profitability in Your Organization WEBCAST, 8:30am-4pm

16WBCOC16A

275

375

Webcast

A&A

Key Ratio Analysis WEBCAST, 8:30am-4:30pm

16WBCOC16B

275

375

Webcast

A&A

HUD Multifamily Housing Audits 2014 SATURDAY WEBCAST, 9am-12pm

16WBSOC17B

129

159

Webcast

GNP

Revisions to Single Audits - How I Can do It Better SATURDAY WEBCAST, 9am-12pm

16WBSOC17A

129

159

Webcast

GNP

2

Dealing with the Net Investment Income Tax and Additional Medicare Tax WEBINAR, 9am-11am

16WNCOC19A

79

94

Webinar

TAX

10/19

8

Engagement Essentials: Preparation, Compilation, and Review of Financial Statements WEBCAST, 7:30am-3:30pm

16WBBOC19A

249

345

Webcast

A&A

10/19

8

Leases: Present and Future WEBCAST, 8:30am-4:30pm

16WBCOC19B

275

375

Webcast

A&A

10/19

8

Mergers and Acquisitions: Fundamentals of Acquiring or Selling Mid-Market Companies and Professional Service Organizations WEBCAST, 8:30am-4pm

16WBCOC19A

275

375

Webcast

MG

10/19

2

Net Operating Losses - Dealing with the Complexities WEBINAR, 3pm-5pm

16WNCOC19B

79

94

Webinar

TAX

10/20

2

Cash Flow Forecasting: Helping Your Clients Plan Better for the Future WEBCAST, 10am-12pm

16WBAOC20A

79

109

Webcast

PFP

10/20

8

GST Tax From A to Z WEBCAST, 8:30am-4pm

16WBCOC20A

275

375

Webcast

TAX

10/20

8

Revenue: Present and Future WEBCAST, 8:30am-4:30pm

16WBCOC20B

275

375

Webcast

A&A

10/21

2

1040 Tax Document Automation Systems Review WEBINAR, 9am-11am

16WNCOC21A

79

94

Webinar

TEC

10/21

8

2015 Not-for-Profit Accounting, Auditing & Tax Update WEBCAST, 7am-3pm

16WBAOC21A

195

245

Webcast

GNP

10/21

8

Advanced Excel Workshop WEBCAST, 8:30am-4pm

16WBCOC21A

275

375

Webcast

TEC

10/21

2

Captive Insurance: An Effective Financial and Risk Management WEBINAR, 7am-9am

16WNCOC20A

79

94

Webinar

TAX

10/21

2

Deceit, Lies and Embezzlement: How I Stole 350,000 WEBINAR, 3pm-5pm

16WNCOC20B

79

94

Webinar

A&A

10/21

8

Review of Significant Accounting Topics WEBCAST, 8:30am-4:30pm

16WBCOC21B

275

375

Webcast

A&A

10/22

8

Compilation and Review Practice Guide WEBCAST, 8:30am-4:30pm

16WBCOC22C

275

375

Webcast

A&A

10/22

2

Excel for Accounting Professionals Session 5: Error Trapping and Improving Lookups WEBCAST, 9:30am-11:30pm

16WBBOC22A

105

145

Webcast

TEC

10/22

2

Excel for Accounting Professionals Session 6: List Comparisons and Indenting WEBCAST, 12pm-2pm

16WBBOC22B

105

145

Webcast

TEC

10/22

4

PCC Activities, Including Frame Work, ASU Updates, Simplification Initiative WEBCAST, 8:30am-12pm

16WBCOC22A

140

188

Webcast

A&A

10/22

2

Social Security and Spousal Benefits WEBINAR, 11am-1pm

16WNCOC22A

79

94

Webinar

PFP

10/22

8

Social Security: Advanced Education and Training WEBCAST, 8:30am-4pm

16WBCOC22B

275

375

Webcast

PFP

10/22

2

Time To Get Serious About Information Security WEBINAR, 12pm-2pm

16WNCOC22B

79

94

Webinar

TEC

10/16

8

10/16

8

10/17

4

Y

10/17

4

Y

10/19

ç New |  Non-tech credits |

www.wscpa.org

Webcast from WSCPA | E Ethics credits |  Conference | Y Yellow Book | C CFP | l Chapter event | S Season Ticket/Coupons N/A |

Networking event

WashingtonCPA Fall 2015

39


Register at www.wscpa.org/cpe/catalog or page 45

EDUCATION AND EVENTS

Fees

Date

CPE Credits

#

Course

Code

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

Type

WSCPA NonAICPA Member Member Member Discount Fee Fee

Facility

Subject

10/23

4

Corporate Tax Planning: Actual and Constructive Distributions WEBCAST, 8:30am-12pm

16WBCOC23A

140

188

Webcast

TAX

10/23

8

QuickBooks Desktop Accounting Software Overview and Update WEBCAST, 8:30am-4pm

16WBCOC23B

275

375

Webcast

TEC

10/23

2

Single Audit Primer and Update WEBINAR, 10am-12pm

16WNCOC23A

79

94

Webinar

GNP

10/23

2

What You Need to Know About the New AICPA PFP Standards WEBINAR, 7am-9am

16WNCOC23B

79

94

Webinar

PFP

10/26

8

Advanced Personal Financial Planning Update WEBCAST, 8:30am-4:30pm

16WBCOC26A

275

375

Webcast

PFP

10/26

8

Form 990: A Comprehensive Approach to Accurate Preparation WEBCAST, 7:30am-3:30pm

16WBBOC26A

249

345

Webcast

TAX

10/26

2

Partnerships and LLCs vs. S Corporations - How Many Tax Differences Remain? WEBINAR, 12pm-2pm

16WNCOC26A

79

94

Webinar

TAX

10/27

8

2015 Governmental Accounting and Auditing Update WEBCAST, 7am-3pm

16WBAOC27B

195

345

Webcast

GNP

10/27

2

2015 Technology Update WEBINAR, 3pm-5pm

16WNCOC27A

79

94

Webinar

TEC

10/27

8

Form 709: Gift Tax Returns WEBCAST, 8:30am-4:30pm

16WBCOC27B

275

375

Webcast

TAX

10/27

2

Marketing Management for CFOs and Other Financial Managers WEBCAST, 8am-10am

16WBAOC27A

79

109

Webcast

MG

10/27

2

S Corporations: Elections and Form 2553 WEBINAR, 8am-10am

16WNCOC27B

79

94

Webinar

TAX

10/27

4

Small-Business Financial Statements WEBCAST, 8:30am-12pm

16WBCOC27A

140

188

Webcast

A&A

10/27

2

The Complex Area of Partnership Allocations - Properly Dividing Up the Items on the Form 1065 WEBINAR, 10am-12pm

16WNCOC27C

79

94

Webinar

TAX

10/27

2

Trust Income Issues —Uniform Principal and Income Act and Distributable Net Income WEBINAR, 7am-9am

16WNCOC27D

79

94

Webinar

TAX

10/27

8

Virtual Currency WEBCAST, 8:30am-4pm

16WBCOC27C

275

375

Webcast

TEC

10/28

8

2015 Compilation and Review Update WEBCAST, 7am-3pm

16WBAOC28A

195

245

Webcast

A&A

10/28

2

Excel for Accounting Professionals Session 7: Date Driven Workbooks and Concatenation WEBCAST, 9:30am-11:30pm

16WBBOC28A

105

145

Webcast

TEC

10/28

2

Excel for Accounting Professionals Session 8: Dynamic Headers, Mapping Tables and Error Check WEBCAST, 12pm-2pm

16WBBOC28B

105

145

Webcast

TEC

10/28

2

IRS Internet Resources for Accountants WEBINAR, 2pm-4pm

16WNCOC28A

79

94

Webinar

TEC

10/28

2

The ZZZZ Best Story: Ex-Con, Z Best CFO, Shares Techniques On How To Detect And Prevent Fraud WEBINAR, 9am-11am

16WNCOC28B

79

94

Webinar

A&A

10/29

8

2015 Understanding and Preventing Business Fraud WEBCAST, 7am-3pm

16WBAOC29B

195

245

Webcast

A&A

10/29

8

Estate Planning: A Comprehensive Overview WEBCAST, 8:30am-4:30pm

16WBCOC29B

275

375

Webcast

TAX

10/29

8

Federal Taxation of Partnerships and LLCs Part II: Sales and Distributions Bequests, Redemptions and Liquidations WEBCAST, 8:30am-4:30pm

16WBCOC29A

275

375

Webcast

TAX

10/29

2

Live Video Interview with Fraud Victim Cheryl Obermiller WEBINAR, 12pm2pm

16WNCOC29A

79

94

Webinar

A&A

10/29

2

Profit Improvement: Use Process Analysis to Identify Opportunities WEBINAR, 9am-11am

16WNCOC29B

79

94

Webinar

A&A

10/29

1

Punctuation That Counts: Catch Your Mistakes Before Your Readers Do! WEBCAST, 8am-9am

16WBAOC29A

39

69

Webcast

PD

10/29

4

Risk, Cost, and Cash Management for Controllers and Financial Managers WEBCAST, 10am-2pm

16WBBOC29A

149

199

Webcast

MG

10/30

2

Live Video Interview with Ex-Con Ex-Mayor John Pomierski WEBINAR, 12pm-2pm

16WNCOC30A

79

94

Webinar

A&A

10/30

8

Private Company Reporting Options: More Changes Ahead WEBCAST, 8:30am-4pm

16WBCOC30A

275

375

Webcast

A&A

10/30

2

Staff Retention: Why Your Best People Leave and How to Prevent It WEBINAR, 9am-11am

16WNCOC30B

79

94

Webinar

MG

10/31

4

Washington CPA Ethics and New Developments by Mark Hugh (A WA Requirement) SATURDAY WEBCAST, 8am-12pm

16WBSOC31A

164

194

Webcast

Ethics

10/31

4

Washington Sales Tax and New Developments by Mark Hugh SATURDAY WEBCAST, 8am-12pm

16WBSOC31B

129

159

Webcast

TAX

11/2

8

Choice of Entity Workshop WEBCAST, 8:30am-4:30pm

16WBCNV02B

275

375

Webcast

TAX

Y

Y

E

ç New |  Non-tech credits |

40

Webcast from WSCPA | E Ethics credits |  Conference | Y Yellow Book | C CFP | l Chapter event | S Season Ticket/Coupons N/A |

WashingtonCPA Fall 2015

Networking event

www.wscpa.org


Register at www.wscpa.org/cpe/catalog or page 45

EDUCATION AND EVENTS Fees

Date

CPE Credits

#

Course

Code

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

Type

WSCPA NonAICPA Member Member Member Discount Fee Fee

Facility

Subject

11/2

8

Construction Contractors: Accounting, Auditing, and Tax WEBCAST, 7:30am3:30pm

16WBBNV02A

249

345

Webcast

A&A

11/2

8

Investment Planning: Developing Client-Centered, Long-Term, Financial Strategies WEBCAST, 8:30am-4pm

16WBCNV02A

275

375

Webcast

PFP

11/2

8

Not-for-Profit Accounting & Reporting: From Start to Finish WEBCAST, 7:30am-3:30pm

16WBBNV02B

249

345

Webcast

GNP

11/2

2

Strategic Skills for CFOs WEBINAR, 11am-1pm

16WNCNV02A

79

94

Webinar

MG

11/3

8

Church and Minister Taxation WEBCAST, 8:30am-4:30pm

16WBCNV03B

275

375

Webcast

TAX

11/3

2

Detecting and Preventing T&E Fraud WEBINAR, 3pm-5pm

16WNCNV03A

79

94

Webinar

A&A

11/3

8

Hedging Risks of Foreign Operations and Currency Transactions WEBCAST, 8:30am-4pm

16WBCNV03A

275

375

Webcast

A&A

11/3

2

QuickBooks – Best Practices for Accountants WEBINAR, 11am-1pm

16WNCNV03B

79

94

Webinar

TEC

11/4

8

2015 Accounting and Auditing Update WEBCAST, 7am-3pm

16WBANV04A

195

245

Webcast

A&A

11/4

8

Auditing Employee Benefit Plans WEBCAST, 8:30am-4pm

16WBCNV04A

275

375

Webcast

A&A

11/4

2

COD Income Issues WEBINAR, 11am-1pm

16WNCNV04A

79

94

Webinar

TAX

11/4

8

Effective Workpaper Techniques: Building a Better Workpaper WEBCAST, 8:30am-4:30pm

16WBCNV04C

275

375

Webcast

A&A

11/4

8

Federal Taxation of Partnerships and LLCs Part I: Formation and Operation and Allocations WEBCAST, 8:30am-4pm

16WBCNV04B

275

375

Webcast

TAX

11/4

2

IRS Representation: Key Strategies to Represent Your Clients WEBINAR, 8am-10am

16WNCNV04B

79

94

Webinar

TAX

11/4

2

KPI Dashboards - The New Financial Reporting Model WEBINAR, 3pm-5pm

16WNCNV04C

79

94

Webinar

MG

11/5

8

2015 Not-for-Profit Accounting, Auditing & Tax Update WEBCAST, 7am-3pm

16WBANV05B

195

245

Webcast

GNP

11/5

2

ABC's of Building a Cloud Accounting Services Practice WEBINAR, 1pm-3pm

16WNCNV05A

79

94

Webinar

TEC

11/5

2

Cloud Systems - How Do I Know My Data is Safe and Secure? WEBINAR, 7am-9am

16WNCNV05B

79

94

Webinar

TEC

11/5

8

Deal Structure for Mergers and Acquisitions WEBCAST, 8:30am-4:30pm

16WBCNV05B

275

375

Webcast

TAX

11/5

1

Give Your Elevator Speech a Lift, 8am-9am

16WBANV05A

39

69

Webcast

PD

11/5

2

Internal Control’s New Muscles WEBINAR, 8am-10am

16WNCNV05C

79

94

Webinar

A&A

11/5

8

Passive Activities and Rental Real Estate Income Tax Issues WEBCAST, 8:30am-4pm

16WBCNV05A

275

375

Webcast

TAX

11/5

2

Passive Activities: Helping Clients Survive the IRS’s Challenges WEBINAR, 2pm-4pm

16WNCNV05D

79

94

Webinar

TAX

11/6

8

Cost Capitalization A-Z WEBCAST, 8:30am-4pm

16WBCNV20A

275

375

Webcast

TAX

11/6

2

Data Analysis and Management WEBINAR, 9am-11am

16WNCNV06A

79

94

Webinar

TEC

11/6

8

Not-for-Profit Organizations: Accounting and Auditing Principles and Applications WEBCAST, 8:30am-4pm

16WBCNV06A

275

375

Webcast

A&A

11/6

2

Trusts – Accounting and Taxation WEBINAR, 7am-9am

16WNCNV06B

79

94

Webinar

TAX

11/9

8

Accounting for Deferred Income Taxes WEBCAST, 7:30am-3:30pm

16WBBNV09A

249

345

Webcast

A&A

11/9

2

Creating Breakthrough Strategies in an Ever-Changing World WEBINAR, 11am-1pm

16WNCNV09A

79

94

Webinar

MG

11/9

2

How Will You Handle the New Revenue Recognition Standard? WEBINAR, 12pm-2pm

16WNCNV09B

79

94

Webinar

A&A

11/9

8

Looking for Hidden Benefits: Federal and State Tax Incentives WEBCAST, 8:30am-4pm

16WBCNV09A

275

375

Webcast

TAX

11/10

2

Dealing with the Net Investment Income Tax and Additional Medicare Tax WEBINAR, 10am-12pm

16WNCNV10A

79

94

Webinar

TAX

11/10

8

Federal Tax Update: C & S Corporations, Partnerships & LLCs (Forms 1120, 1120S & 1065) WEBCAST, 8:30am-4:30pm

16WBCNV10B

275

375

Webcast

TAX

11/10

4

Financial Accounting for LLCs and Partnerships WEBCAST, 11am-3pm

16WBANV10A

129

159

Webcast

A&A

11/10

2

Foreign Account Reporting Requirements: Forms 8938 and 3520 WEBINAR, 8am-10am

16WNCNV10B

79

94

Webinar

TAX

11/10

2

Spreadsheet Risk - Can it be Eliminated? WEBINAR, 12pm-2pm

16WNCNV10C

79

94

Webinar

TEC

11/10

8

Top 10 Things Financial Planners Need to Know About Estate Planning WEBCAST, 8:30am-4pm

16WBCNV10A

275

375

Webcast

TAX

Y

ç New |  Non-tech credits |

www.wscpa.org

Webcast from WSCPA | E Ethics credits |  Conference | Y Yellow Book | C CFP | l Chapter event | S Season Ticket/Coupons N/A |

Networking event

WashingtonCPA Fall 2015

41


Register at www.wscpa.org/cpe/catalog or page 45

EDUCATION AND EVENTS

Fees

Date

CPE Credits

#

Course

Code

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

Type

WSCPA NonAICPA Member Member Member Discount Fee Fee

Facility

Subject

11/11

8

Corporate Income Tax Return Fundamentals WEBCAST, 8:30am-4:30pm

16WBCNV11B

275

375

Webcast

TAX

11/11

8

ESOPs: Uses, Strategies, Benefits and Pitfalls WEBCAST, 8:30am-4pm

16WBCNV11A

275

375

Webcast

MG

11/11

2

Retirement Plan Options for Small Businesses WEBINAR, 8am-10am

16WNCNV11A

79

94

Webinar

TAX

11/11

2

What You Need to Know About the New AICPA PFP Standards WEBINAR, 11am-1pm

16WNCNV11B

79

94

Webinar

PFP

11/12

8

2015 A Guide to Successfully Handling Tax Controversies WEBCAST, 7am-3pm

16WBANV12A

195

245

Webcast

TAX

11/12

8

Federal Tax Appeals and Alternative Dispute Resolution WEBCAST, 8:30am-4:30pm

16WBCNV12A

275

375

Webcast

TAX

11/12

2

FICA/Self-Employment Tax Exposure: S Corps & Partnerships WEBINAR, 7am-9am

16WNCNV12A

79

94

Webinar

TAX

11/13

2

15 Best Practices in Budgeting WEBINAR, 7am-9am

16WNCNV13A

79

94

Webinar

MG

11/13

8

Business Succession Planning and Exit Strategies WEBCAST, 8:30am-4pm

16WBCNV13A

275

375

Webcast

MG

11/13

8

S Corporations Workshop WEBCAST, 8:30am-4pm

16WBCNV13B

275

375

Webcast

TAX

11/13

2

What’s New in A & A? WEBINAR, 10am-12pm

16WNCNV13B

79

94

Webinar

A&A

11/16

8

Asset Protection Planning WEBCAST, 8:30am-4:30pm

16WBCNV16B

275

375

Webcast

PFP

11/16

8

Basis/Distributions for Pass-Through Entities: Simplifying the Complexities WEBCAST, 7:30am-3:30pm

16WBBNV16A

249

345

Webcast

TAX

11/16

2

Fraud and Abuse in Government Entities WEBINAR, 9am-11am

16WNCNV16A

79

94

Webinar

GNP

11/16

2

Internal Control’s New Muscles WEBINAR, 2pm-4pm

16WNCNV16B

79

94

Webinar

A&A

11/16

8

Tax Practitioner's Guide to Accounting and Reporting Issues WEBCAST, 8:30am-4pm

16WBCNV16A

275

375

Webcast

A&A

11/17

8

Advanced Tax Planning Techniques WEBCAST, 8:30am-4:30pm

16WBCNV17B

275

375

Webcast

TAX

11/17

2

INSIDE Public Accounting’s 2015 National Benchmarking Survey Results WEBINAR, 10am-12pm

16WNCNV17A

79

94

Webinar

MG

11/17

2

Marketing Management for CFOs and Other Financial Managers WEBCAST, 8am-10am

16WBANV17A

79

109

Webcast

MG

11/17

2

Nuts & Bolts: Detecting & Deterring Fraud in Small Business WEBINAR, 1pm-3pm

16WNCNV17B

79

94

Webinar

A&A

11/17

8

Preparing Complex 1040s WEBCAST, 8:30am-4:30pm

16WBCNV17A

275

375

Webcast

TAX

11/17

2

Single Audit Primer and Update WEBINAR, 8am-10am

16WNCNV17C

79

94

Webinar

GNP

11/17

2

Trusts – Accounting and Taxation WEBINAR, 3pm-5pm

16WNCNV17D

79

94

Webinar

TAX

11/18

8

2015 Understanding and Preventing Business Fraud WEBCAST, 7am-3pm

16WBANV18A

195

245

Webcast

A&A

11/18

8

Affordable Care Act - Tax Favored Health Care Plans After ACA WEBCAST, 8:30am-4pm

16WBCNV18B

275

375

Webcast

TAX

11/18

2

Capital Gains Tax Strategies for Advanced Transactions WEBINAR, 11am-1pm

16WNCNV18A

79

94

Webinar

TAX

11/18

2

Captive Insurance: An Effective Financial and Risk Management WEBINAR, 8am-10am

16WNCNV18B

79

94

Webinar

TAX

11/18

8

Federal Taxation of Partnerships and LLCs Part II: Sales and Distributions Bequests, Redemptions and Liquidations WEBCAST, 8:30am-4:30pm

16WBCNV18A

275

375

Webcast

TAX

11/18

2

Trust Income Issues —Uniform Principal and Income Act and Distributable Net Income WEBINAR, 9am-11am

16WNCNV18C

79

94

Webinar

TAX

11/19

2

1040 Tax Document Automation Systems Review WEBINAR, 1pm-3pm

16WNCNV19A

79

94

Webinar

TEC

11/19

8

2015 Accounting and Auditing Update WEBCAST, 7am-3pm

16WBANV19D

195

245

Webcast

A&A

11/19

1

AICPA Conflicts of Interest: A New 2015 Approach WEBCAST, 9am-10am

16WBANV19C

39

59

Webcast

SK

11/19

2

Excel Reporting Series - Creating KPI Dashboards WEBINAR, 10am-12pm

16WNCNV19B

79

94

Webinar

TEC

11/19

8

GAAP Update WEBCAST, 8:30am-4:30pm

16WBCNV19B

275

375

Webcast

A&A

11/19

8

Partnership Preparation, Basis Calculations and Distributions: Form 1065 Schedule K & K1 Analysis WEBCAST, 8:30am-4pm

16WBCNV19A

275

375

Webcast

TAX

11/19

2

Partnerships & LLCs: Tax Issues in Forming the Entity WEBINAR, 8am-10am

16WNCNV19C

79

94

Webinar

TAX

11/19

2

Partnerships and LLCs: Tax Issues in a Sale or Liquidation WEBINAR, 11am-1pm

16WNCNV19D

79

94

Webinar

TAX

11/19

4

Washington CPA Ethics and New Developments by Mark Hugh (A WA Requirement) WEBCAST, 8am-12pm

16WBANV19A

164

194

Webcast

Ethics

Y

Y

E

ç New |  Non-tech credits |

42

Webcast from WSCPA | E Ethics credits |  Conference | Y Yellow Book | C CFP | l Chapter event | S Season Ticket/Coupons N/A |

WashingtonCPA Fall 2015

Networking event

www.wscpa.org


Register at www.wscpa.org/cpe/catalog or page 45

EDUCATION AND EVENTS Fees

Date

CPE Credits

#

Course

Code

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

Type

WSCPA NonAICPA Member Member Member Discount Fee Fee

Facility

Subject

11/19

4

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

16WBANV19B

129

159

Webcast

TAX

11/20

8

2015 Partnerships, S Corporations & LLCs Update WEBCAST, 7am-3pm

16WBANV20A

195

245

Webcast

TAX

11/20

8

Buying and Selling S Corporations: Tax Planning Opportunities WEBCAST, 8:30am-4:30pm

16WBCNV20B

275

375

Webcast

TAX

11/20

2

IRS Internet Resources for Accountants WEBINAR, 8am-10am

16WNCNV20A

79

94

Webinar

TEC

11/20

2

Time To Get Serious About Information Security WEBINAR, 12pm-2pm

16WNCNV20B

79

94

Webinar

TEC

11/21

2

Deceit, Lies and Embezzlement: How I Stole 350,000 WEBINAR, 7am-9am

16WNCNV21A

79

94

Webinar

A&A

11/23

8

Audit Workpapers: Documenting and Reviewing Field Work WEBCAST, 7:30am-3:30pm

16WBBNV23A

249

349

Webcast

A&A

11/23

8

Internal Control and COSO Essentials for Financial Managers, Accountants and Auditors WEBCAST, 7:30am-3:30pm

16WBBNV23B

249

345

Webcast

A&A

11/23

1

Punctuation That Counts: Catch Your Mistakes Before Your Readers Do! WEBCAST, 8am-9am

16WBANV23A

39

69

Webcast

PD

11/23

2

S Corporations: Elections and Form 2553 WEBINAR, 8am-10am

16WNCNV23A

79

94

Webinar

TAX

11/24

2

Cash Flow Forecasting: Helping Your Clients Plan Better for the Future WEBCAST, 10am-12pm

16WBANV24A

79

109

Webcast

PFP

11/24

2

Cloud Accounting Practice Toolkit WEBINAR, 1pm-3pm

16WNCNV24A

79

94

Webinar

MG

11/24

2

Live Video Interview with Fraud Victim Cheryl Obermiller WEBINAR, 11am-1pm

16WNCNV24B

79

94

Webinar

A&A

11/25

2

Recent Tax Developments which Could Affect Your Company  WEBINAR, 10am-12pm

16WNCNV25A

79

94

Webinar

TAX

11/25

2

Yellow Book: Heartburn Inducing Requirements WEBINAR, 7am-9am

16WNCNV25B

79

94

Webinar

GNP

11/30

2

Affordable Care Act Update: What Your Company Needs to Know! WEBINAR, 7am-9am

16WNCNV30A

79

94

Webinar

TAX

11/30

8

Applying the Uniform Guidance for Federal Awards in Your Single Audits WEBCAST, 7:30am-3:30pm

16WBBNV30B

249

345

Webcast

GNP

11/30

2

Cloud Accounting Practice Toolkit WEBINAR, 3pm-5pm

16WNCNV30B

79

94

Webinar

MG

11/30

2

Partnerships and LLCs vs. S Corporations - How Many Tax Differences Remain? WEBINAR, 10am-12pm

16WNCNV30C

79

94

Webinar

TAX

11/30

8

Payroll Taxes and 1099 Issues: Everything You Need to Know WEBCAST, 7:30am-3:30pm

16WBBNV30A

249

345

Webcast

TAX

12/1

2

2015 Business Tax Update WEBINAR, 11am-1pm

16WNCDE01A

79

94

Webinar

TAX

12/1

2

2015 Individual Tax Update WEBINAR, 8am-10am

16WNCDE01B

79

94

Webinar

TAX

12/1

8

Fresh Start, Fair Value and Impairment Accounting WEBCAST, 8:30am-4:30pm

16WBCDE01B

275

375

Webcast

A&A

12/1

8

Retirement Distributions: Planning Options WEBCAST, 8:30am-4:30pm

16WBCDE01C

275

375

Webcast

PFP

12/1

8

Small Business Internal Control, Security and Fraud Prevention and Detection WEBCAST, 8:30am-4pm

16WBCDE01A

275

375

Webcast

A&A

12/1

2

Spreadsheet Risk - Can it be Eliminated? WEBINAR, 12pm-2pm

16WNCDE01C

79

94

Webinar

TEC

12/2

2

Captive Insurance: An Effective Financial and Risk Management WEBINAR, 9am-11am

16WNCDE02A

79

94

Webinar

TAX

12/2

8

CPA Succession Planning WEBCAST, 8:30am-4:30pm

16WBCDE02B

275

375

Webcast

MG

12/2

2

Detecting and Preventing Internal Fraud, Theft and Abuse WEBINAR, 2pm-4pm

16WNCDE02B

79

94

Webinar

A&A

12/2

4

New FASB Developments for Business & Industry WEBCAST, 10am-2pm

16WBBDE02A

149

199

Webcast

A&A

12/2

8

Pension and Profit-sharing Plan Strategies WEBCAST, 8:30am-4:30pm

16WBCDE02A

275

375

Webcast

PFP

12/3

2

5 Elements of a Finding WEBINAR, 2pm-4pm

16WNCDE03A

79

94

Webinar

GNP

12/3

2

ABC's of Building a Cloud Accounting Services Practice WEBINAR, 12pm-2pm

16WNCDE03B

79

94

Webinar

TEC

12/3

4

Analyzing a Company's Financial Statement WEBCAST, 10am-2pm

16WBBDE03A

149

199

Webcast

A&A

12/3

8

Introduction to International Taxation WEBCAST, 8:30am-4:30pm

16WBCDE03C

275

375

Webcast

TAX

12/3

8

Quality Control in a CPA Tax Practice: Overview of Circular 230 Changes WEBCAST, 8:30am-4pm

16WBCDE03A

275

375

Webcast

MG

12/3

8

Startup Business Conference WEBCAST, 8:30am-4:30pm

16WBCDE03B

275

375

Webcast

SK

Y

Y

Y

ç New |  Non-tech credits |

www.wscpa.org

Webcast from WSCPA | E Ethics credits |  Conference | Y Yellow Book | C CFP | l Chapter event | S Season Ticket/Coupons N/A |

Networking event

WashingtonCPA Fall 2015

43


Register at www.wscpa.org/cpe/catalog or page 45

EDUCATION AND EVENTS

Fees

Date

CPE Credits

#

Course

Code

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

Type

WSCPA NonAICPA Member Member Member Discount Fee Fee

Facility

Subject

12/3

2

The Complex Area of Partnership Allocations - Properly Dividing Up the Items on the Form 1065 WEBINAR, 7am-9am

16WNCDE03C

79

94

Webinar

TAX

12/3

2

Trust Income Issues —Uniform Principal and Income Act and Distributable Net Income WEBINAR, 11am-1pm

16WNCDE03D

79

94

Webinar

TAX

12/4

8

Business Valuation: A Review of the Essentials WEBCAST, 8:30am-4:30pm

16WBCDE04C

275

375

Webcast

A&A

12/4

8

Construction Contractors: Special Tax and Accounting Considerations WEBCAST, 8:30am-4:30pm

16WBCDE04B

275

375

Webcast

A&A

12/4

2

Live Video Interview with Pulitzer Winner Michael Sallah WEBINAR, 12pm2pm

16WNCDE04A

79

94

Webinar

A&A

12/4

8

Private Company Accounting: New Challenges, New Directions WEBCAST, 8:30am-4pm

16WBCDE04A

275

375

Webcast

A&A

12/7

8

Engagement Essentials: Preparation, Compilation, and Review of Financial Statements WEBCAST, 7:30am-3:30pm

16WBBDE07A

249

345

Webcast

A&A

12/7

2

Excel Reporting Series - Creating KPI Dashboards WEBINAR, 2pm-4pm

16WNCDE07A

79

94

Webinar

TEC

12/7

1

Give Your Elevator Speech a Lift, 8am-9am

16WBADE07A

39

69

Webcast

PD

12/7

2

QuickBooks – Best Practices for Accountants WEBINAR, 9am-11am

16WNCDE07B

79

94

Webinar

TEC

12/7

8

Strategies for Tax Dispute Resolution WEBCAST, 8:30am-4:30pm

16WBCDE07A

275

375

Webcast

TAX

12/7

2

Trusts – Accounting and Taxation WEBINAR, 8am-10am

16WNCDE07C

79

94

Webinar

TAX

12/8

8

Avoiding Tax Malpractice WEBCAST, 8:30am-4:30pm

16WBCDE08B

275

375

Webcast

TAX

12/8

2

Foreign Account Reporting Requirements: Forms 8938 and 3520 WEBINAR, 11am-1pm

16WNCDE08A

79

94

Webinar

TAX

12/8

8

Form 709: Gift Tax Returns WEBCAST, 8:30am-4:30pm

16WBCDE08A

275

375

Webcast

TAX

12/8

2

Small GAAP: AICPA Private Company Financial Reporting Standards WEBINAR, 8am-10am

16WNCDE08B

79

94

Webinar

A&A

12/8

2

Time To Get Serious About Information Security WEBINAR, 1pm-3pm

16WNCDE08C

79

94

Webinar

TEC

12/9

8

2015 Annual Tax Update WEBCAST, 7am-3pm

16WBADE09A

195

245

Webcast

TAX

12/9

8

Deal Structure for Mergers and Acquisitions WEBCAST, 8:30am-4:30pm

16WBCDE09A

275

375

Webcast

TAX

12/9

8

HUD Audits of Multifamily Housing Projects: Audit Requirements Under the HUD Audit Guide and for Single Audits WEBCAST, 8:30am-4pm

16WBCDE09B

275

375

Webcast

GNP

12/9

2

Recent Tax Developments which Could Affect Your Company WEBINAR, 3pm-5pm

16WNCDE09A

79

94

Webinar

TAX

Y

Save Big with Season Tickets WSCPA members save $100 on each eight-hour CPE program. Save even more by purchasing a Season Ticket or Coupon Book. •

With the Season Ticket, you can take 40 or 80 credits of CPE at a significant savings off the regular price of CPE.

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Similarly, Coupon Books are the cost 80 CPE credits effective way to purchase 80 CPE credits and save 20%. With a Coupon Learn more and order at Only $204.50 per 8-hour CPE Book, you have the option to share www.wscpa.org/value . program — at least 34% savings the savings with your colleagues. Webcast from WSCPA | E Ethics credits |  Conference | Y Yellow Book | C CFP | l Chapter event | S Season Ticket/Coupons N/A | Networking event ç New |  Non-tech credits |

44

WashingtonCPA Fall 2015

www.wscpa.org


Register at www.wscpa.org/cpe/catalog

REGISTRATION

Register online with credit card at www.wscpa.org/cpe/catalog or: • Mail form with check to WSCPA, 902 140th Ave NE, Bellevue, WA 98005-3480 • Call (425) 644-4800 or (800) 272-8273 (toll-free in Washington) Questions? E-mail cpe@wscpa.org or call the WSCPA.

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Date

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Fee1

2

3

To pay by credit card, please visit www.wscpa.org/cpe/catalog or call (425) 644-4800.

2

WSCPA CPE policies apply to all programs in the CPE Digest. Review the CPE policies at www.wscpa.org. www.wscpa.org

WashingtonCPA Fall 2015

45


CLASSIFIED ADS Detailed advertising information is available online at www.wscpa.org under More. Ads are $1 per word, with a $50 minimum fee. Active e-mail and web site addresses are included. Ads are placed on the website for 60 days when received and in the next magazine when received by the deadline, December 1 for the winter 2016 issue. To post a job listing, www.wscpa.org (click Job Board.) Use the Miscellaneous category for rental or vacation property. Contact Janet White at (425) 586-1126, or memberservices@wscpa.org for more information. All ads must be pre-paid.

OFFICE SPACE Looking for a CPA to come join my financial planning firm. Looking for a great person to come and join my firm, has been family owned and around for 30 years.This would be both a space sharing and also way to cross-refer clients and give our clients extra services, win-win for our clients and ourselves.Front office person to answer phones, all phone, internet, copies included. We can talk about revenue sharing ideas.Contact Collier Meris, (206) 805-1770 or meris@cllierswm.com MERGERS & SALES Seeking a Tax Practice Ideal practice would be $250-500K, primarily tax and write-up work located in Kirkland/Bellevue/Renton with an owner willing to work through the transition. Experienced & personable staff who would like to stay on after the sale would be a major plus. If interested please contact me at chrisdavieswa@ yahoo.com. No brokers please. CPA Firm for sale: majority of clients in Renton - Tacoma area. CPA firm with strong reputation and community niche is for sale. Revenues in the mid 300K range with roughly 50% tax prep with the remainder spread between accounting,state tax returns,payroll, and other miscellaneous services. It is a perfect opportunity for firm wanting to easily add to their growth and possibly reward an up and coming employee by having them manage the firm. Seamless transition with current owner, semi-retiring, being available to assist for as long or short a time period as needed.Current staff is highly responsible, supportive, and fun to work with. Non-broker inquires only please. E-mail: cpafirm@mail.com Three Seattle Tax Practices for Sale. Three well established Seattle tax and accounting practices for sale. The firms, which are separate practices but share facilities, want to begin the transition into retirement within the next 1-3 years. The practices are located in lower Queen Anne. The firms together gross approximately $600,000.The revenues come from both individual and business tax work and also includes some non-profits and A & A work.All of the firms use Creative Solutions for their tax preparation and one of the firms uses CS for accounting and TB work. All three firms have been in business 25 years or more, enjoy an excellent reputation and have long-term clients. The CPA firms are offered separately and/or together over a period of time. All of the owners will be available to assist during the transition. Please contact us at rll6995@gmail.com Langley Practice for SALE Long established practice owner planning retirement. Only interested buyers, no brokers. Contact owner directly; 360-221-3040. Considering Selling Your Practice? Consider all your options. We do the work. Confidential. We have buyers actively seeking practices. Call Mark Hause at (877) 345-7722 or visit our website at www.accountingpracticesales.com Accounting Practice Sales.We make dreams happen!

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PRACTICES FOR SALE Contact Mark Hause at Accounting Practice Sales by e-mail at MARKHAUSE@CONTACTAPS.COM or call (877) 345-7722 for more information on the following practices: (WA 1095) Clallam County/Central Olympic Peninsula EA Tax Practice for Sale: This Enrolled Agent practice is well balanced with a tax practice that produces approx. 58% of annual revenues and write-up services bring in the rest. The firm has an excellent location that promotes a community awareness of its services due to the high daily traffic count. In addition, the practice has many loyal clients who annually refer their friends and produces a net cash flow to owner that is head and shoulders above the norm. This practice is set for any buyer to continue the success of the past under new ownership. (WA 1094) Vancouver CPA Practice for Sale: This CPA practice revenues are generated primarily by a tax practice with a strong fee structure. The revenue dollars are 86% income tax and the balance consists of accounting, consulting,and reviews/compilations.A unique characteristic of this practice is the amount of business tax work. The business returns generate more than half of all the income tax fees generated by the firm. Further, the firm’s clients are in need of additional services that any buyer will have ample opportunity to capitalize on to grow the book of business. This practice fits a multitude of buyers seeking a timely acquisition of a well-managed quality practice. (WA 1093) Vancouver CPA Practice for Sale: This CPA tax practice for sale is well balanced with a tax practice of both business and individual returns along with auditing, estates/trusts, and non-profits to round out the client mix. The professional services by percentage are: Business 43%, Individual 46%,Auditing 2%, Non-Profits 6% and Estates/Trusts 3%. The firm has an excellent staff with most with the firm for at least 18 years. In all its years, the firm has worked to be an excellent community citizen with involvement in any number of community and non-profit organizations.The firm’s citizenship has created a significant foot print in the community that often results in it being the referred choice. This firm is uniquely suited for any firm seeking to expand a client base or a firm looking to enter the Vancouver market. (WA 1092) Kittitas County EA Tax Practice for Sale: This well-established Enrolled Agent practice with remarkable balance in professional fees is for sale. The firm has two great books of business with tax and write-up revenues being approximately equal and a small amount of consulting making up the balance. The revenue stream provides great balance and great cash flow through the year. The firm also has great momentum with revenue increasing in double digits for the last two years. This firm fits a number of buyers who are looking for an opportunity to enjoy the fruits of their labor.

(WA 1090) Everett/Mill Creek Area: This CPA practice is a strong tax practice with approx. 82% of revenue coming from these professional services. The balance is made up of write-up 16% and consulting of 2%. The firm is very proactive both with their clients and with the community at large. The firm’s outreach consists of regular client contacts,newsletters and ongoing web based methods. The firm also is very efficient that is a reflection of the style of the owner and the competence of the staff. All of this is contained in a practice that has an excellent fee structure, setup for anyone to come in and assume the mantle of ownership, an office that easily makes a good first impression and a varied and loyal group of clients. (WA 1089) Bellingham CPA Practice For Sale: This CPA firm is almost 100% a tax practice with write-up only consisting of approx. 6% of gross receipts. The practice is run very efficiently and has a net cash flow percentage that is excellent. The year over year revenues are solid with this stable group of tax clients providing steady income. The size and profitability of this practice make it attractive to any number of buyers looking to grow a firm with immediate possession possible. (WA1073) Island County EATax Practice for Sale: This well-established Enrolled Agent practice is for sale. The firm is well balanced with a tax practice that produces 71% of the firm’s revenue with write-up generating the remainder of the income. The practice is well positioned for future growth due to having a solid staff serving long term clients. The seller is retiring but will be available to assist in transition. For any firm looking for a satellite office, an existing practice wishing to branch out, or an individual who has aspirations of getting out on their own, this practice is an excellent choice. (WA1069) Poulsbo CPATax Practice for Sale: This solid CPA practice with an excellent client base is for sale. The firm is full of satisfied clients who refer approx. 95% of all new clients. The firm with this kind of reputation works extremely hard at providing excellent service to a client base with a healthy mix of all types of clients. As with most firms, the practice mix consists of mostly individual returns but does have business returns as well. For buyers looking for an established practice or firms seeking markets for new growth this firm is one you should inquire about.

SOLD

IBA Sells Privately Held Companies. Do you represent a client who is ready to retire or has taken a company as far as they want to or can? IBA is the Pacific Northwest’s oldest business brokerage (M&A) firm.We are professional negotiators with over 4000 completed transactions. Please contact us if we can be of assistance at (800) 218-4422 or www.ibainc.com

VOLUNTEER OPPORTUNITIES The following organizations need a CPA to serve on the board of directors and/or provide other guidance on financial matters. Learn more at www.wscpa.org (click “Volunteer Opportunities” at the bottom of the page). Clark County – new Eastside Legal Assistance Program – new Kiwanis Club of Overlake – new Orphans Africa – new Techbridge – new

WashingtonCPA Fall 2015

(WA 1091) Kent/Auburn Area CPA Practice for Sale: This CPA practice is a tax practice with 75% of revenues coming from these professional services. The balance is write-up 17% and 8% is compilations. The firm is extremely profitable with this element of the practice being the product of exceptional service to the clients who return year after year and a solid fee schedule. These clients also provide referrals that are the life blood of any practice.The buyer of this firm will be a husband/wife team, 2 CPA’s looking to partner up or a nearby firm looking to add quality clients to their practice.

The Huichol Center for Cultural Survival and Traditional Arts – new United Way of King County – new Washington Food Coalition – new

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MEMBER MEMBERPROFILE PROFILE

Colleen E. Hansen, CPA

Employer:

Current position:

Lives in:

Community Transit Financial Analyst Everett, WA (I was born in Bellevue and grew up in Tacoma and Mukilteo.)

A little about my job:

My job entails a variety of duties including: budget development; data mining and analysis; financial reporting; grant and regulatory reporting; process improvements; accounting systems implementations, upgrades, and trouble- shooting; and even a little general accounting on the side. I love knowing that my ultimate bosses are the citizens of the Snohomish County PTBA. It makes me feel like I’m at least doing one small thing to make the world a better place.

At work I’m really excited about:

Developing and implementing an investment program for Community Transit. It’s not very often that the finance department gets to be a revenue center!

I am passionate about:

My two sons, ages 7 and 27. (I like to tell people that I have one every 20 years.)

I aspire to:

Become a black belt in taekwondo.

Favorite television show:

Favorite movie:

Favorite food:

@midnight Star Wars

If I could only eat one food for the rest of my life, it would be pizza.

Favoite concerts:

Rodrigo Y Gabriela, Steve Martin, Barenaked Ladies, “Weird Al” Yankovic, Zelda: Symphony of the Goddesses, and Macklemore & Ryan Lewis performing at the 2013 NFC Championship game.

Hobbies:

I’m a taekwondo green belt, an avid Husky fan and 12th man, a gamer, and a symphony/theater patron.

People would be surprised to know this:

I’m a CPA who hires a CPA to do my personal income taxes. Although I used to prepare individual tax returns 20 years ago, I haven’t kept up with all those rules; I appreciate my CPA’s specialized knowledge!

My superpower:

Solving problems using Microsoft Excel.

The superpower I would like to have:

CPA and WSCPA member since:

www.wscpa.org

Twitch my nose and make my whole house clean. 1993 WashingtonCPA Fall 2015

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The must-attend event of the year for experienced CPAs involved in federal taxation!

Pacific Tax Institute November 4-5, 2015 | Bell Harbor International Conference Center, Seattle Earn up to 18 CPE credits

Federal Tax Updates | Cutting Edge Tax Strategies: Reducing Penalties and Increasing Credits under the ACA | S Corps | Partnership - Basis Adjustments and Hot Assets | Washington Nexus and Apportionment | Hot Topics in IRS Enforcement, and much more!

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The WashingtonCPA 2015 Fall  

The official publication of the Washington Society of Certified Public Accountants

The WashingtonCPA 2015 Fall  

The official publication of the Washington Society of Certified Public Accountants