The WashingtonCPA September/October 2012

Estate CPA Planning washington

September/October 2012 Volume 55, Number 2

Affected by Recent Updates to Washington’s Trust Law? Who Inherits My Facebook Account? Estate Planning for Digital Assets Investing Wisely: It’s Not Just for Grown-Ups Anymore

www.wscpa.org

2

WashingtonCPA September/October 2012

www.wscpa.org

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 Mary D. Marino Chair Randy L. Wells Vice Chair Lucy L. Liu Treasurer Glenn G. Wisegarver Secretary Mark A. Hugh Immediate Past Chair Richard E. Jones President & CEO

Peter E. Doubleday David J. Miniken

Joyce G. Etheridge Nerelys M. Ortiz

Dean A. Granholm Sharon K. Philpott

Robert L. Grannum Andrew L. Read

Waylon P. Jones Rosemary Sanchez

Marinilka B. Kimbro William A. Simer

Karissa A. Lackey David E. Trujillo

Peter R. E. Miller

CHAPTER BOARD CHAIRS

Waylon P. Jones Bellevue Area

Joseph W. Crowther Central

Joseph M. Reid Central

— North Seattle

Jack W. Curnow Northwest

Kathryn A. Dixon Olympia

— Peninsula

— Pierce County

Mary H. Hawkins Sammamish Valley

Jeffrey L. May Seattle

Rachel T. Sites Snohomish County

Michael K. Briggs South King County

John Vogel South Sound Industry

Matthew E. Lee Southwest

Lucas M. Zarecor Spokane

— Wenatchee

Kyle S. Meissner Yakima

Jeanette Kebede

Editor

Estate Planning

Contents

8

Affected by Recent Updates to Washington’s Trust Law? 10 CPAs: Watch Keepers for Elder Planning 12 Who Inherits My Facebook Account?

Estate Planning for Digital Assets 15 Tips for Preventing Estate Tax Planning Disputes 6

Virtual Membership — Is It Enough?

18 Pancakes ... and Advocacy 19

Accounting Students Receive $55,000 in Scholarships

22 OneNote: Microsoft’s Best New Tool for Organization and Collaboration

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.

24 Professional Conduct: Just a Couple Shades of Grey

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.

39 Investing Wisely: It’s Not Just for Grown-Ups Anymore

The WashingtonCPA (USPS 009754) is published six 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.com/OJO Images Photography WSCPA photos: © 2011-12 Fire Eyes Photography POSTMASTER: Send address changes to The WashingtonCPA, c/o WSCPA, 902 140th Avenue NE, Bellevue, WA 98005-3480.

www.wscpa.org

Departments 4

Leadership Lens

25

Financial Literacy

16

News Briefs

27

CPE Digest

17 Events

28 Conferences

18 Advocacy

37

Registration Form

19

Washington CPA Foundation

38

Classified Ads

22

Tech Tip

39

Member Profile

WashingtonCPA September/October 2012

3

Leadership lens

Do You Have a Will? A Living Trust?

By Rich Jones, CPA, CGMA, President & CEO

J

imi Hendrix, Stieg Larsson (author of The Girl with the Dragon Tattoo), Howard Hughes, Abraham Lincoln, Amy Winehouse, Martin Luther King, Jr., Pablo Picasso, and a founder of one of the Big 4 CPA firms that bears his name. What did these famous people have in common?

They were all too busy doing whatever made them famous to get around to preparing a will. If you (or your clients) have not taken the time to prepare a will, you are in good company on a bad list — not an enviable place to be.

Over my 35 years as a practicing CPA, I gave many talks to clients and other groups about the importance of estate planning. I became a widower with a three year old daughter at age 26, so was able to draw on that experience to explain why even very young people need at least a simple will to provide for the care, education and support of a young child. In pointing out the importance of having a will, I would say “if you don’t have a will, the State of Washington will draw one up for you,” referring to the rules in intestacy (rules of inheritance if the decedent died without a will).

I recently saw a quote about postmortem estate administration that resonated with me as I have been involved with the care of aged and frail parents: “What if death wasn’t the end—it was only the beginning?” When my father died at age 92 several months ago, we thought we had his affairs in pretty good shape. He had a will that left everything to my mother; he and my mother had granted Powers of Attorney to my twin brother and me; and they had filled out preprinted forms to document their desires about medical decisions to be made in the event they were unable to do so. We talked about creating living trusts, but that was deemed too complicated for them to understand.

Some lessons I learned as Executor of my father’s estate:

4

•

Financial institutions often want you to have used their preapproved Power of Attorney forms and will otherwise require that their legal department review the agreements you have executed. This often takes weeks to accomplish.

In pointing out the importance of having a will, I would say “if you don’t have a will, the State of Washington will draw one up for you,” referring to the rules in intestacy (rules of inheritance if the decedent died without a will).

WashingtonCPA September/October 2012

•

The survivor who inherits assets held in joint names (e.g. bank accounts, brokerage accounts, etc.) will have many opportunities to sign documents attesting to who they are.

In some cases, this may require obtaining a copy of their marriage certificate or their birth certificate (e.g. to prove they are a U.S. citizen and exempt from backup withholding).

•

Make sure your Power of Attorney for Financial Matters specifically includes the power to create trusts, such as a living trust for the surviving spouse.

Ours did not, so new agreements that include this power needed to be executed.

No one will talk with you until you can prove to them that

•

you are authorized to speak on behalf of the decedent or the surviving spouse. This includes hospitals, financial institutions, pension administrators, Social Security Administration, utility providers, DMV, etc. Properly drawn Powers of Attorney and Living Trusts can reduce the burden of these challenges.

The most important lesson learned from my experience is to not wait until the principals in the estate plan are too infirm to participate in the routine administrative functions required when administering an estate. Mental deterioration, physical incapacity and distance from loved ones can make estate administration very time consuming and difficult.

All of this can be avoided by creating the necessary documents when everyone is in relatively good health. Very serious consideration should be given to creating and funding living trusts; if not to save taxes, then at least to facilitate post-death administration.

This issue of Washington CPA magazine includes several good articles on estate planning, which I encourage you to read. I am sure our members have additional bits of advice that they can share from their experiences of dealing with these matters on behalf of loved ones or clients. If you have some wisdom to share, please contribute to the WSCPA Group LinkedIn discussion at www.linkedin.com (search for the Washington Society of Certified Public Accountants Group). (If you are not yet a member of the group, submit a request to join the group, and once your membership is verified, you will be able to access the group and the discussions.)

You can contact Rich Jones at rjones@ wscpa.org.

www.wscpa.org

www.wscpa.org

WashingtonCPA September/October 2012

5

Leadership lens

Virtual Membership — Is It Enough?

By Mary Dowling Marino, CPA, CGMA,WSCPA Chair for 2012-13

W

hen I was growing up, the coolest place to be was in “the fort.” The structure was not much to look at – a few old pieces of lumber nailed together to make a platform in a tree – but the cachet of being allowed in was unmistakable. When you belonged to the group that could use the fort, you had arrived.

Even as children, we knew that banding together as an exclusive unit made us feel more powerful.

The idea of affiliation has been around for as long as human beings have been recording history. In some cases, members are born into a particular group. For others, seeking out others who share your interest or background may jump start a sense of connection. Historically, meeting with other members of your chosen group required your presence at events where your participation was visible and measurable. Group members wore uniforms, badges, insignia and some even had secret handshakes. These were three dimensional relationships. In the era of the electronic communication, we now have the ability to connect virtually with individuals with whom we share affiliation or interests all over the world.

While we may never interact with them in person, for many people that affiliation is as strong as if they were sitting together in “the fort.”

The WSCPA’s mission is to maximize the value of the CPA profession for members and the public. Achieving that mission requires constant monitoring and adapting to the ways our members wish to participate, so members continue to perceive the value in their continued support of the organization. We track statistics that tell us how our members are attending various society meetings, training opportunities and social networking events. For the Society and many other membership organizations, those figures suggest conspicuous changes in how many members are accessing content and

6

community. Between e-mail, texting, tweeting and blogging, supporting an organization without ever physically engaging with other members may become the new norm for professional interaction, and it raises an interesting question for the WSCPA, is “virtual” membership enough to maximize value?

The WSCPA currently has nearly 10,000 active members, which includes

Between e-mail, texting, tweeting and blogging, supporting an organization without ever physically engaging with other members may become the new norm for professional interaction, and it raises an interesting question for the WSCPA, is “virtual” membership enough to maximize value?

roughly half of the licensed CPAs in the state. More than half of our members are not engaged in the practice of public accounting. Demographically, almost half of our members are in their 40s and 50s. Forty-five percent of the members are women. The fastest growing segment of our group has been student members, providing a counterweight to the aging demographic.

In surveys of our current members, we have queried them about their reasons for joining and what they expect to get out of it. The results are as varied as the many types of members that we serve.

Most refer to the unique role the Society plays as advocate for the profession as the primary reason for support. Traditionally, many members have joined the

WashingtonCPA September/October 2012

WSCPA to receive discounts on CPE and other benefits, but changing attendance at live classroom events reveals that the Society needs to continue to adapt to the changing competitive landscape for CPE and adopt innovative CPE delivery options to meet the needs of members.While each of our members is encouraged to participate in chapter activities, the number of active members who choose to do so is very small compared to the total population.

So, how do we move the majority of folks from watchers to active participants and does that level of engagement require physical presence? Members are reading articles and posting or commenting on discussions via social media channels, such as the WSCPA Group on LinkedIn. Perhaps for them, that is as engaged as they need to be to perceive value in the membership. For others, attending an event, a conference or a seminar, or participating on a committee may open their eyes about the value of continued participation. At the highest level of commitment, service as a committee chair, on a chapter board or on the WSCPA Board of Directors is a visible demonstration of engagement in the Society.

I would encourage you to think about how you can become more engaged with the WSCPA and take the steps to get involved.You’ll probably connect with your fellow CPAs. You might even learn the Society’s secret handshake.

Mary Dowling Marino is a Tax Partner with CliftonLarsonAllen LLP in Bellevue.

You can contact her at mary.marino@ cliftonlarsonallen.com.

To learn more about how you can become more engaged with the WSCPA, contact Member Services at (425) 644-4800 or (800) 272-8273 (toll-free in Washington), or send an e-mail to memberservices@ wscpa.org. www.wscpa.org

E-9002-0312 WA_Layout 1 3/15/12 2:50 PM Page 1

When your firm is ready, there’s a path to follow. The Premier Plan.

As your firm grows, so do your risks. So when it’s time to decide how to protect your firm, it’s important to choose professional liability insurance that can address the evolving needs of your business.

When you choose advanced coverage offered through the AICPA Premier Plan, you have options. Available liability limits range from $100,000 to $10 million, with 28 deductible options for qualified firms.

When you choose the AICPA Premier Plan, you’re on the right path to your firm’s future.

Contact Robert Albertini at Aon Insurance Services today at (800) 221-3023 or visit www.cpai.com/premierad Endorsed by:

Underwritten by:

Nationally administered by:

Aon Insurance Services, is the brand name for the brokerage and program administration operations of Affinity Insurance Services, Inc.; (AR 244489); in CA, MN & OK, AIS Affinity Insurance Agency, Inc. (CA 0795465); in CA, Aon Affinity Insurance Services, Inc., (0G94493), Aon Direct Insurance Administrator and Berkely Insurance Agency and in NY and NH, AIS Affinity Insurance Agency.

One or more of the CNA companies provide the products and/or services described. The information is intended to present a general overview for illustrative purposes only. It is not intended to constitute a binding contract. Please remember that only the relevant insurance policy can provide the actual terms, coverages, amounts, conditions and exclusions for an insured. All products and services may not be available in all states and may be subject to change without notice. The statements, analyses and opinions expressed in this publication are those of the respective authors and may not necessarily reflect those of any third parties including the CNA companies. CNA is a service mark registered with the United States Patent and Trademark Office. Copyright © 2012 CNA. All rights reserved.

E-9002-0312 WA

www.wscpa.org

WashingtonCPA September/October 2012

7

Estate Planning

Affected by Recent Updates to Washington’s Trust Law?

By Ryan M. Bray, CPA, MST

J

ensen Edwards is a Seattle teacher and the trustee of a $5 million irrevocable trust. The trust was established in Washington by his brother Sean, for the benefit of Sean’s daughter.

Sean created the trust after the technology company he founded was sold for a substantial sum. He chose his brother as trustee because he knew Jensen would always act in the child’s best interest. Under the terms of the trust, Sean’s daughter will not benefit financially until she reaches the age of 30—nor will she be given advance notice of the existence of the trust.

Fast forward five years to January 1, 2012.

Sean has a new son and wants to create a similar trust for him, with Jensen as trustee. However, the rules have changed for the Edwards family under the state’s new Washington Trust Act. Jensen is concerned that he is not adequately prepared for the new duties and reporting responsibilities of a trustee under the Act. Sean is dismayed to learn that, at age 18, his son will be informed of the existence of the trust and have the right to detailed information that his father prefers to be kept secret.

If your estate plan includes a trust governed by Washington State law or you are the trustee or beneficiary of such a trust, it’s important to understand how the new law impacts you.

Overview of the Washington Trust Act

The Washington Trust Act has been called the most sweeping piece of probate and trust legislation enacted in Washington State in more than a decade.

Effective as of January 1, 2012, the Act imposes new reporting and administrative requirements on trustees, provides new disclosure rights for beneficiaries, and clarifies or establishes a number of rules for trust administration. Trustees, in particular, will be required to provide

8

financial reporting of trust activities to beneficiaries.

The Act generally applies to all trusts.

However, the notice provisions apply only to irrevocable trusts created after December 31, 2011, or revocable trusts that become irrevocable after that date.

It also applies to all trust-related judicial proceedings as of January 1, 2012.

Notification and Reporting Responsibilities

If you are the trustee of an irrevocable trust, or a revocable trust that will become an irrevocable trust, you have new notification and reporting responsibilities under the Act. If you are the beneficiary of such a trust, those new responsibilities translate to new rights for you. And if you are or intend to be a trustor or grantor, new rules may limit certain of your options in establishing the terms of the trust.

Notification Requirements

The notification requirements are one of the more controversial parts of the new law, because the new law explicitly requires trustees to provide much more informational reporting to beneficiaries than in the past.

For example, where parents create a trust for their children, the parents may be disappointed to find that the new law requires the trustee to provide adult children with substantial information on trust activity. This can be a concern because many trustors create trusts either because the beneficiary is unable to responsibly manage large sums of money or to avoid creating a sense of entitlement in children.

Unfortunately, the new law only provides a mechanism to address these concerns under limited circumstances, two of which are as follows: •

WashingtonCPA September/October 2012

Revocable trusts are generally exempt from the notification

•

requirements. Such trusts are commonly used as a substitute for a will. During the trustor’s life, notification need not go beyond the trustor. However this exception only lasts until the death of the trustor, as “such a trust becomes irrevocable upon the trustor’s passing.

If a beneficiary of an irrevocable trust is entitled to trust income and also controls the disposition of trust assets, then notification is not required to successor beneficiaries.

As most irrevocable trusts will not qualify under either of the two above exceptions, the trustee will need to comply with the below notification requirements.

If you become the trustee of an irrevocable trust—or learn that the revocable trust for which you are trustee has become irrevocable—you have 60 days to notify all beneficiaries of the existence of the trust, its grantor, your name and contact information as trustee, and their right to request information that is reasonably necessary to protect their interests. If the beneficiary is a minor you must notify the child’s guardian or, if there is no guardian, the child’s parent. www.wscpa.org

Estate Planning

The Washington Trust Act has been called the most sweeping piece of probate and trust legislation enacted in Washington State in more than a decade.

•

©istockphoto.com/Pixdeluxe

• •

This notification requirement cannot be waived in the trust documents. It generally applies to irrevocable trusts created after December 31, 2011 and revocable trusts that become irrevocable after that date.

Reporting Requirement

If you are a trustee, you have a duty to keep the trust’s beneficiaries reasonably informed regarding the administration of the trust and all material facts they require to protect their interests.

While you’re not required to report on an annual basis, you must prepare your report sufficiently often to ensure that your fiduciary duty is met.

This reporting requirement cannot be waived in the trust documents. It applies to all irrevocable trusts, regardless of when they were created.

Safe Harbor Rule for Reporting

To assist trustees in meeting their fiduciary duty to keep beneficiaries reasonably informed, the Act provides a safe harbor rule. As trustee, you are presumed to have satisfied this duty if your report includes the following information for the period reported on: •

Statement of receipts and disbursements of principal and income;

www.wscpa.org

•

•

•

Statement of assets and liabilities of the trust, including their beginning and ending values; Trustee’s compensation; Agents hired by the trustee, their relationship to the trustee, and their compensation; Disclosure of any pledge, mortgage, option or lease of trust property, or other agreement affecting trust property that is binding for at least five years; Disclosure of certain transactions which may involve a conflict between the trustee’s personal and fiduciary interests; Various mandatory statements with regard to petitions and claims, including the statute of limitations for a breach-of-trust claim against the trustee.

death of the trustee; the termination of the beneficiary’s interest in the trust; or the termination of the trust.

A trustee is liable for the amount of profit the trustee made from the breach or, if greater, the amount required to restore the value of the property.

Other Changes in Trust Administration

The Act includes a number of provisions that affect the administration of Washington trusts. In addition to dispute resolution rules, they include rules for creating, amending and terminating a trust; determining the venue for dispute resolution; distributing trust property; contesting final distributions; amending and revoking revocable trusts; correcting mistakes in law or fact; and determining and changing a trust’s situs, or location.

Impact on Trustors Trustees are required to respond and Grantors

Response to Beneficiary Request

promptly to a beneficiary’s request for information regarding the administration of the trust. If a beneficiary requests information reasonably necessary to protect his or her interests, the trustee must respond within 60 days of receiving the request.

Breach of Trust Claims

Under the Act, beneficiaries have a limited period of time to bring claims against trustees for breach of trust.

Generally, that period is limited to three years after the date a report was reviewed by the beneficiary that “adequately disclosed the existence of a potential claim and informed the beneficiary of the time allowed for commencing a proceeding.” A report that meets the Act’s safe harbor reporting requirements is presumed to be satisfactory for this purpose.

The three-year period for breach of trust claims may also be determined with reference to the removal, resignation or

If you have a trust as part of your estate plan, whether irrevocable or revocable, it’s important to understand the potential impact of the Washington Trust Act.You may find, as did the Jensen family, that new duties and rights afforded under the Act necessitate changes in trustee or trust provisions, or even updates to your estate plan.

If you are currently the trustee of an irrevocable trust, you should begin planning now to meet the new financial reporting requirements to beneficiaries under the Act. Ryan Bray, MST, CPA, is a senior manager in Bader Martin’s tax practice and is a member of the firm’s high net worth and family business practice groups.You can contact him at rbray@badermartin.com. learn more Watch for an upcoming WSCPA seminar on the Washington Trust Act.

WashingtonCPA September/October 2012

9

Estate Planning

CPAs: Watch Keepers for Elder Planning

By Kevin Pillion, CPA, JD

C

PAs can provide a value-added service by watching over clients’ estate plans. For CPAs with elderly clients, this includes protecting them against two common and costly problems: 1) not having estate-planning documents, and 2) failing to update their existing documents, or to update the beneficiary designations on their retirement plans and insurance policies.

Elderly people need at least five estate-planning documents, which are discussed here.

Also discussed is the Living Trust.

Living Will

A Living Will, or Advance Health Care Directive, is a legal document that makes known a client’s health care wishes regarding life-sustaining care such as food, hydration or ventilators. It is used when the client is terminally ill or is in a persistent vegetative state.

The absence of a Living Will places emotional stress on loved ones if the client has an incurable or irreversible condition that will result in death.

The importance of having a Living Will was demonstrated in the famous case of Terri Schiavo. If she had executed a Living Will, the delay and litigious nature of her death could have been avoided.

Health Care Power of Attorney

A Health Care Power of Attorney, or Health Care Proxy, is a legal document appointing another person as a healthcare agent to make a client’s medical decisions when the client is unable to do so. This document is particularly important for widowed or unmarried clients.

Without being named in a Health Care Proxy, loved ones may be denied access to the client’s doctors and medical records.

They also may run into legal roadblocks that prevent them from making decisions regarding the client’s:

10

• Medical treatment and medication; • Living arrangement (e.g. a nursing home); • Hiring and firing of doctors; or • Hospital visitation access.

Financial Power of Attorney

A Financial Power of Attorney, or Durable General Power of Attorney, is a legal document appointing another person as an agent to handle a client’s business and financial affairs while the client is alive. Such a power may be effective immediately, or only upon a client’s incapacity to make his or her own decisions.

For confidentiality reasons, banks, investment companies and other third parties typically disclose personal financial information only to customers or their agents. They will not complete financial transactions, such as bill paying, for a loved one if a client is incapacitated and has failed to name the loved one in a Financial Power of Attorney.

HIPAA Waiver

The Health Insurance Portability and Accountability Act (HIPAA) is a federal law mandating that hospitals and doctors keep personal medical information private. Although this act is well intended, it prevents doctors from giving medical information to health-care agents.

It also prevents hospitals from providing itemized bills to financial-power-of-attorney agents.

HIPAA waiver language should be contained in the Health Care and Financial Powers of Attorney, or in a separate waiver document known as a HIPAA Authorization. If a client’s documents were prepared before 2003 or consist of do-it-yourself legal forms, it is likely they don’t contain the proper HIPAA waiver language.

WashingtonCPA September/October 2012

Last Will and Testament

A Last Will and Testament (Will) is a legal document specifying who receives a client’s assets upon death and who serves as the personal representative for administering the client’s estate. A Will usually necessitates a probate-court proceeding after the client’s death.

Fifty-five percent of adults do not have a Will. Without a Will, a client’s assets will be distributed under a state’s intestacy laws and may not go to the people whom the client intended.These laws are particularly inadequate for a client who wishes to leave assets to a charity or friend, or to an unmarried partner.

Living Trust

A Living Trust is a legal arrangement in which a client gives fiduciary control of property to a trustee (which can be the client or someone the client chooses) for the benefit of the client’s beneficiaries.

This arrangement has little, if any, impact on the client’s daily life, as the client controls the trust and its assets. The client can change or revoke the trust at any time.

Living Trusts are not just for wealthy clients. They make financial sense for those who have more than $75,000 worth of assets subject to probate. The savings from the trust’s probate-avoidance feature typically more than offset the legal expense of creating and maintaining the trust.

Elderly people can benefit from having a Living Trust if they want to: • Avoid court proceedings, such as formal and ancillary probate www.wscpa.org

cover story

•

• • • • •

administration, Will contests, conservatorship or guardianship; Take care of loved ones who have mental or physical impairments, struggle with addictions or lack investment experience; Manage complex family situations, such blended families and unmarried couples; Motivate heirs to make smart life decisions and reward them for doing so; Reduce estate taxes for married couples; Take care of their pets; or Create flexible estate plans to carry out their wishes, including the kind of nursing home they want to be in or how they want their money to be spent.

For elderly clients who already have a Living Trust, CPAs can play an important watch-keeper role. They can verify that assets are properly titled in the name of clients’ Living Trusts and advise them to seek legal help for retitling newly acquired assets.

Watch for Life-Changing Events

Elderly people often fail to update their existing estate-planning documents, or to update the beneficiary designations on their retirement plans and insurance policies. CPAs can learn this by talking with clients and finding out if they have faced or will be facing any significant changes in their lives. www.wscpa.org

Committee Spotlight

Personal Financial Planning Committee

©istockphoto.com\Kupicoo

Fifty-five percent of adults do not have a Will. Without a Will, a client’s assets will be distributed under a state’s intestacy laws and may not go to the people whom the client intended. These laws are particularly inadequate for a client who wishes to leave assets to a charity or friend, or to an unmarried partner.

Online Resource The CPA Elder Planning Checklist can help you advise your clients to update their estate plans.

The PFP Committee:

Download your copy at www.wscpa.org/estatechecklist.pdf The CPA Elder Planning Checklist (download from the WSCPA website atxwww.wscpa.org/estatechecklist.pdf) includes a list of significant life events.

Some of the most common ones are: • • •

As a CPA working in your own financial planning/investment firm, or as a CPA working in the broader financial services area, making connections with other WSCPA members who work in this niche can be an invaluable member benefit. The landscape of financial planning has been rapidly changing with new opportunities as well as new regulations coming at an increasing rate.

Clients need solid independent advice more than ever. Consider joining the WSCPA Personal Financial Planning Committee (PFP) today.

Marriage or divorce; Birth, death or disability of a grandchild; or Death, incapacity or falling out with an agent of one or both powers of attorney.

If one or more of these events occurs or is anticipated, CPAs should advise their clients to update their estate plans.

By regularly reviewing clients’ estateplanning documents, CPAs can keep watch for potential problems and prompt clients to seek legal help while they still are able to do so.

Kevin Pillion is the founder of Co-Executor PLC, an estate-planning and elderlaw firm in Sarasota. Pillion is a member of the Florida Institute of CPAs,The Florida Bar, the National Academy of Elder Law Attorneys, the Academy of Florida Elder Law Attorneys, and the American Academy of Estate Planning Attorneys. He is chair of the FICPA’s CPA Elder Planning & Support Services Committee.

•

• • •

Assists members with understanding and applying new regulations from the Washington State Department of Financial Institutions and the SEC; Shares ideas on how to communicate financial concepts with clients; Responds to WA State tax issues that apply to CPAs in PFP practice; and Networks with CPAs working in PFP from the AICPA.

This WSCPA PFP committee meets 3-4 times during the year at the WSCPA office. Conference calling is available for all meetings. Registration is not required and committee meetings do not qualify for CPE credit.

To join the Committee, contact Member Services at (425) 644-4800. learn more Learn more about estate planning with WSCPA Education programs.

Visit www.wscpa.org or call (425) 644-4800.

Reprinted with permission of the Florida Institute of CPAs from the November/ December 2011 issue of Florida CPA Today.

WashingtonCPA September/October 2012

11

cover story

Who Inherits My Facebook Account?

Estate Planning for Digital Assets

By Laura Hoexter, J.D, LL.M (tax) and Alexandra Gerson, J.D. What are digital assets?

Technically, digital assets are intangible personal assets formatted into a binary source. This includes all files and information stored in any online accounts, such as e-mail accounts, social networking sites, blogs, photo- and video-sharing sites, online music, online video games, online storage accounts such as “cloud” storage, and online sales accounts. It also includes domain names and any intellectual property rights (such as copyrights, patents, trademarks, and trade secrets) associated with your digital property.

Do digital assets have value?

Some digital assets, such as blogs with advertising revenue or PayPal™ accounts, have economic value. Other digital assets, such as photo-sharing sites, have only sentimental value. Finally, some digital assets, such as video game accounts, have neither economic nor sentimental value.

How prevalent are digital assets?

Until just a few years ago, most of us stored our important documents in a filing cabinet or in a safety deposit box at a bank. But now, with computers and easy access to the Internet, many of us store our important papers solely in digital form, on a hard drive or an Internet storage site. In addition, we are creating new digital assets at an extraordinary rate.

According to 2011 estimates, every 60 seconds: (a) over 168,000,000 e-mails are sent; (b) over 695,000 FaceBook status updates are written; (c) over 6,600 digital photos are added to Flickr®; (d) about 600 digital videos are added to YouTube; (e) about 320 new Twitter accounts are created; (f) over 100 new LinkedIn® accounts are created; (g) about 70 new Internet domain names are registered; and (h) over 60 new blogs are created.

Digital assets are not only being created by us, but also are being purchased by

12

us at extraordinary rates. In July 2010, Amazon reported that Kindle books outsold all hardcover book sales. By May 2011, Amazon reported that Kindle books outsold all books, both hardcover and paperback combined. The number one seller of all music (not just digital music) is iTunes®. In February 2010, the iTunes store sold its 10 billionth song.

Why is identifying digital assets important?

If you become incapacitated, your appointed agent must be able to maintain your digital assets. This means continuing to pay bills that arrive in paperless form, maintaining registered domain names, and being able to contact and communicate with your friends and family. Likewise, when you pass away, your personal representative (a.k.a. your executor) must inventory all of your assets and distribute them as your will instructs. As more

WashingtonCPA September/October 2012

of us manage our finances and maintain records, data, and music online, finding these assets is becoming increasingly difficult. By identifying your digital assets for your agent or your personal representative, you save your estate time and expense and minimize the possibility that your online photo sites or your blogs (today’s version of photo albums, diaries, and shoeboxes full of love letters) will be lost forever.

Lost forever? Don’t I own my digital assets?

Most digital assets have both a license element and a property-right component.

For example, with e-mail accounts, social networking sites, and photo-sharing sites, the user often has a license from the Internet service provider to access the e-mail system, the social network site, or the photo-sharing site in accordance with the Terms of Use Agreement. www.wscpa.org

cover story

If you become incapacitated, your appointed agent must be able to maintain your digital assets.

This means continuing to pay bills that arrive in paperless form, maintaining registered domain names, and being able to contact and communicate with your friends and family.

Resources for Planning

Gmail provides instructions for gain- friends and family to write on the PayPal allows only the Personal Repredecedent’s wall in remembrance. The account may be closed upon a formal request from the decedent’s next of kin or upon a legal request.

sentative to close the account. If there are funds in the PayPal account, a check will be issued in the account holder’s name.

messages that may be stored on a decedent’s account, along with any existing contact lists, and will ultimately close the account upon request.

account, after receiving a verification of death form, along with the email address registered to the deceased member’s account.

Yahoo!’s policy is to permanently delete all content and terminate the account upon receipt of a copy of a death certificate.

Twitter allows family members to

Facebook, upon request, will memo-

sentative to access a decedent’s account.

books) you have merely purchased a license for personal use. Apple’s Terms of Service has a provision covering nuclear weapons (“You also agree that you will not use these products for any purposes prohibited by United States law, including, without limitation, the development, design, manufacture, or production of nuclear, missile, chemical or biological weapons.”), but nothing specifically about the transfer of your media on death. It appears that legally, for now, there is no way to transfer iTunes media on death.

ing access to the deceased user’s account and, in some instances, may be able to provide the account content to an authorized representative of the deceased user.

©istockphoto.com\Pixdeluxe

Hotmail will send a copy of any email

iTunes. Apple states that when you LinkedIn will remove a decedent’s purchase digital files (music, movies, and

remove the decedent’s account or save a backup of the decedent’s public Tweets.

YouTube permits the personal repre-

rialize a decedent’s account to allow

The user generally retains a property interest in e-mails in the inbox, all usergenerated content, and contact lists.

Contrast this with music directory sites, such as iTunes. With these sites, the user has a license from the Internet service provider to access the music system in accordance with the Terms of Service, no different from an e-mail site. However, unlike e-mail, the licensed copy of lawfully downloaded music is not categorized as property, per se. Instead, the user has purchased an indefinite license to use one copy of the file.

What happens to my e-mail when I die?

The answer to this depends on the state in which you reside and your e-mail provider. Most states are far behind the times, providing little or no legislation or case law regarding accessing and transferring digital assets at death. Only a www.wscpa.org

handful of states have attempted to address this issue. Connecticut and Rhode Island require e-mail service providers to grant a personal representative access to a decedent’s e-mail account, upon a written request and substantiating documents. Oklahoma (effective November 2010) and Idaho (effective July 2011) have taken a much broader stance and have passed laws giving a personal representative of an estate “the power, where otherwise authorized, to take control of, conduct, continue, or terminate any accounts of a deceased person on any social networking website, any microblogging or short message service website, or any e-mail service websites.”

If I’m not a resident of those states, what happens to my digital assets?

Regardless of where you live, when you set up an online account, you are

initially presented with a “clickwrap agreement.” These are the Terms of Use and the conditions upon which the account is offered. In order to use the service, the user must click an “Agree” or “Accept” button. While each site’s clickwrap agreement contains different provisions, almost all sites contain language stating that the offered accounts are solely for the individual account holder’s use and are not assignable. Therefore, once an account holder dies, the service provider can reclaim the username and all information.

Can you give me some examples?

After a period of inactivity, most free online e-mail accounts such as Yahoo!® and Hotmail® will delete a user’s data and/ or account. In addition, certain sites are beginning to adopt policies to specifically deal with the death of an account holder.

WashingtonCPA September/October 2012

13

Estate Planning

assets would you want your family or friends to have? (d) If you were in an accident and became incapacitated today, who, if anyone, would be able to access your digital assets and continue to pay your bills online?

When compiling a list of your digital assets, include all hardware and flash drives (and their

While states are slowly taking steps to define the legal standing of a digital executor, the burden remains on each of us to inventory our digital assets and ensure access for a smooth transition or risk losing these assets forever.

How do I preserve my digital assets and provide for a smooth transition following my death or incapacity?

Preserving your digital assets and providing for a smooth transition is a fivestep process: 1. Identify and inventory your digital assets. To get started, try answering the following questions: (a) If your computer and all peripherals (e.g. back-up drives and flash drives) were stolen, what valuable or sentimental digital assets would you lose? (b) If all of your passwords were deleted, what are the valuable or sentimental digital assets to which you would no longer have access? (c) If you died today, what valuable or sentimental digital

14

WashingtonCPA September/October 2012

location), all software (including Quicken®, Turbo Tax®, and other programs where you may store financial and tax information), your online presence (online document and photo storage sites, social media accounts, blogs), online shopping accounts (wherever your credit card information may be stored so your agent can delete this information and prevent fraud), and online licenses (newspapers and other subscriptions that should be cancelled).

2. Identify the person bestsuited to take control of your digital assets following death or incapacity. Many people name their spouse or adult child as personal representative of their estate.

However, if this person is not computer savvy, he or she might not be the right person to

handle your digital assets. Make sure you have someone technologically inclined to assist with the inventorying, accessing, and distributing your digital assets.

©istockphoto.com\Claudiobaba

For example, upon receipt of a copy of a death certificate,Yahoo!’s policy is to permanently delete all content and terminate the account. This policy extends to other companies owned by Yahoo! including the popular photo-sharing website Flickr.

Once deleted, all information that could have been useful to notify friends and family, to settle the estate, and to pay bills, would be lost.

3. Provide access. While we are frequently told never to write down passwords and PIN numbers, the reality is that without this information, your computer and accounts may not be accessible to your agent.

This may cause delay, frustration, inconvenience, and expense.

Many websites now exist that will store passwords which are then accessible through a master password. However you choose to store them, providing access to your passwords is extremely important.

4. Provide instructions. There are a number of areas where you can provide advance instructions to your agent.

If you have a social network site where friends and followers communicate regularly, let your agent know if there is any particular way you wish to have your illness or death communicated. Additionally, let your agent know if you prefer to have your site shut down or have a memorial page created in your honor. If you have a regular blog, you may want to write your own final goodbye post.

Finally, if you have digital photos, let your agent know if they should be copied and distributed and to whom.

5. Update your estate plan.

Most estate plans are silent as to the disposition of your digital assets. In your will, you should provide clear instructions to your personal representative.

It is no longer sufficient to say, “I leave my computer to my son www.wscpa.org

and all of my other personal property, including my photos, to my daughter.” Does this mean that your computer with all of your files, online music, digital photos, and loaded software should be given to your son and everything else given to your daughter? Or should all of those digital assets be downloaded and given to your daughter and a clean computer given to your son? Should copies of your digital assets be made and given to each child?

A specific bequest of digital assets is imperative for today’s online generation.

The law has a long way to go to catch up with our use of technology. While states are slowly taking steps to define the legal standing of a digital executor, the burden remains on each of us to inventory our digital assets and ensure access for a smooth transition or risk losing these assets forever.

Laura Hoexter is chair of the Estate Planning and Probate Group at Helsell Fetterman LLP, with offices in Seattle and Bellevue. She has an AV® Preeminent™ rating by Martindale Hubbell, and was named Best Lawyer by 425 magazine, one of the Top Women Attorneys in Washington

by Seattle Metropolitan magazine, a Five Star Wealth Manager by Seattle magazine, and SuperLawyer by Washington Law & Politics magazine. Popular Mechanics has yet to mention her. She can be reached at lhoexter@helsell.com.

Alexandra Gerson is a self-proclaimed expert on digital assets by virtue of the fact that she has never known life without a computer. As an estate planning attorney at Helsell Fetterman, LLP, in Seattle, Washington, she helps individuals and families identify and incorporate their digital assets into their overall estate plan. She can be reached at agerson@helsell.com.

©Veer.com\OJO Images Photography

cover story

Tips for Preventing Estate Tax Planning Disputes Tax issues involving estate tax are frequently prone to disputes and claims. Estate tax claims usually involve estate tax planning issues, late filing or payment penalties.

In estate tax planning, there is generally a long period between the time that estate planning decisions are made and the time when the results of the decisions are known. Memories of the CPA’s advice and the client’s decisions fade over time, making documentation of the advice and decisions all the more important. Making matters worse, heirs typically aren’t involved in the planning and may allege that the decisions weren’t understood by the deceased.

If the CPA is dealing with disappointed, litigious beneficiaries after a client dies, documentation of the original planning and decision-making process becomes the CPA’s primary line of defense. To ensure that he or she has some protection from and during litigation, a CPA should implement a policy to detail all planning advice in informed-consent letters that outline the pros, cons and options in terms the client will understand.

A CPA should always obtain client consent as well. Effective informedconsent letters clarify that the CPA advised and informed and the client decided. With this letter, it is difficult for claimants to make a case that the CPA made the decisions rather than the client.

Tax professionals must be certain of their competency in this area and must be sure to document reliance upon the attorney’s drafting of the estate plan. Also be sure to document which professionals are responsible for each aspect of the plan.

Camico is the WSCPA’s affinity partner for professional liability insurance.

For information on policies available through Camico call (800) 652-1772 or visit www.camico.com.

Copyright © 2012 CAMICO. All rights reserved. Reprinted with permission.

www.wscpa.org

WashingtonCPA September/October 2012

15

news briefs

Did you vote?

WSCPA Vote on Bylaws Voting closes September 17 During the week of June 28, 2012, all WSCPA Regular and Honorary Life Members should have received a notice and instructions for casting their bylaws vote ballots. Signed ballots will be accepted through September 17, 2012. The votes will be counted at the end of that period, and, if adopted, the bylaws will go into effect October 18, 2012.

For more information and to download a ballot, please go to: www.wscpa.org/vote or call the Society at (425) 644-4800 or (800) 272-8273 (toll-free in Washington).

Call for Nominations to Board of Directors The WSCPA Board of Directors is accepting nominations for the 2013-2014 Board of Directors. To submit a nomination, contact Ann Young (ayoung@wscpa. org) before November 1.

WSCPA Accounting, Auditing and Review Standards Committee Technical Hotline Ever wonder who you can turn to when you have a question about an accounting, auditing or review issue? The WSCPA Accounting, Auditing and Review Standards Committee is just a phone call away and can help WSCPA members.

The next time you have a question, please contact the WSCPA at (425) 586-1142 or (800) 272-8273, extension 1142 (toll-free in Washington) and find the assistance you need.

Notice to Membership The membership of Mark T. Sabo of Woodinville has been suspended in accordance with paragraph 11.2 of the WSCPA bylaws following the suspension of his individual and firm licenses for a period of three years by the Washington State Board of Accountancy.

In Memoriam The WSCPA holds in memory with families and the larger community, these members who have recently passed on: Suzanne Frech, CPA Ronald E Luhman, CPA Nolan E McSheridan, CPA Bert L Naiman, CPA

16

WashingtonCPA September/October 2012

www.wscpa.org

news briefs

Special Member Discount from CCH

CPA Referral Service

Last Chance to Save 30% on CCH U. S. Master Tax Guide Order by September 30 The sooner you reserve your copy of the industry’s leading tax guide, the higher your discount. Reserve your copy

by September 30 to save 30% off the list price of $90.95. That means WSCPA members pay just $63.67 plus shipping.

You will not be billed until after the book ships. (Cancel before shipment without charge.) Available in text or e-book formats, the 2013 edition will contain timely and precise explanations of federal taxes for individuals, corporations, partnerships, estates and trusts.

WSCPA members also save up to 40% on the monthly titles featured by CCH. Check back each month to save on new titles.To order the U. S. Master Tax Guide and other publications available through CCH, visit http://tax.cchgroup.com/members/wscpa and enter member discount number (Y5596).

Begin Your Subscription Now for Tax Season If your firm is looking for ways to build your client base, look no further than the WSCPA Find a CPA Referral Service.The cost of the enrollment is still just $175—less than 50 cents per day—and covers your listing through June 30, 2013.

The WSCPA referral service is a great source of new clients looking for services in industries that match your firm’s expertise. Rather than using directory assistance to find a CPA, potential clients feel comfortable about their referral from the WSCPA because they are able to view information about services offered by your firm.

To enroll in the service visit www.wscpa.org (Find A CPA > Enroll Online Today). To find out more about the service call Jennifer Ayoub, Membership Services Administrator at (800) 272-8273, Ext. 1142 (toll-free in Washington) or (425) 586-1142 or e-mail jayoub@wscpa.org.

Connect

with WSCPA www.wscpa.org

Networking Events Catch the final networking events of the year!

sponsorS Thank you!

Premier Partners

2012

Key Partners

Supporters

Puget Sound

Oct 25 The Pike Brewing Company, Seattle (NP03) SPOKANE

Nov 13 DoubleTree Hotel Spokane City Center, Spokane (NP04)

www.wscpa.org

Register today! www.wscpa.org/CPE/catalog (enter “NP” in search box) FEES: $20 per event

Friends

Spokane Chapter

WashingtonCPA September/October 2012

17

advocacy

Pancakes . . . and Advocacy

By Judy Love,WSCPA Director of Advocacy

t an AICPA/state society staff Interchange conference in July, the government relations types were asked to describe successful strategies in our grassroots programs. Most responded with the usual — “engaging new professionals,” “inviting legislators to chapter meetings,” “having members deliver PAC checks.” Then the newest member of the group spoke up. “I have just one word,” he said, “Pancakes.”

Pancakes?!? Did we hear that right?

Was he kidding? We were holding the late-afternoon session in the hotel lobby bar at the end of a long week. Perhaps we had misunderstood. We leaned in closer to hear that the Michigan Association of CPAs invites members to informal gatherings with their legislators at local Waffle Houses, Denny’s, etc. to talk about issues of mutual interest. Even more important than the discussions, however, are the relationships that develop. This reminded me of the weekly, if not daily, early morning gatherings of great minds at the Copper Kettle in Ellensburg years ago when all the problems of the world were thoroughly dissected and debated.

Whether it was due to the syrup or the conversation, relationships were cemented, even among those with widely —sometimes wildly—divergent opinions.

Seven years ago WSCPA President & CEO Rich Jones and I started attending NASBA (National Association of State Boards of Accountancy) meetings twice a year. Of course we were interested in learning firsthand about any new regulations that might be brewing. However, the primary motivation was the desire to repair a WSCPA/WBOA relationship that had become very strained. The underlying dysfunction — an Us v.s.Them mentality — was not serving the profession well, posing significant barriers to working together on important legislation that was on the horizon.

18

Contribute to the CPAPAC today at www.wscpa.org (search “CPAPAC”) From that first meeting in Anchorage, to the one held again in Anchorage this past June, we have spent many, many (did I mention many?) hours in general sessions with WBOA members and staff, enjoyed dinners together in wonderful restaurants, laughed together and shared breakfast (maybe even a pancake or two).

A couple of years ago, the entire WBOA staff came from Olympia to the Society office for lunch with WSCPA staff.

Everyone was meeting for the first time, although most had communicated with each other regularly for years. In other words, we have forged relationships that are frankly the envy of many state societies and boards around the country. This relationship resulted in immediate benefits for the profession – it was no accident that Washington State was among the first dozen states to pass mobility legislation.

Does this mean there are never different points of view? That the Society doesn’t question, push back when necessary? Of course not! But despite the built-in tension between those who regulate and those who are regulated, the Society has been able to advocate successfully on behalf of members because of those relationships. Input from WSCPA members and staff helped shape a rule on

WashingtonCPA September/October 2012

requirements for responding to requests by clients and former clients for records (WAC 4-30-051), particularly regarding electronic records. WSCPA staff and members worked together with WBOA members to address and implement an outside consultant’s recommendations for process improvements to Board operations. The new CPA Retired designation is the result of collaboration between the Society and the Board.

And, most recently, in an effort to understand the cause of a high number of late license renewals this year, the Society asked for comparative data for the past nine years, Rich Jones and I conveyed member concerns during a lengthy discussion at the July 26 WBOA meeting, and we committed WSCPA support to the Board’s increased outreach about license renewals in the future.

Back on the legislative front, as I write this, WSCPA members are responding enthusiastically to a request for volunteers to deliver CPPAC checks to legislative candidates.Thanks to everyone who engages in this important activity, over 50 new relationships will be forged by the middle of September. Please pass the syrup!

You can contact Judy Love at jlove@ wscpa.org. www.wscpa.org

©istockphoto.com\Aspheric

A

Washington CPA Foundation

Accounting Students Receive $55,000 in Scholarships

By Kimberly Scott, CAE, Executive Director,Washington CPA Foundation

I

have a personal passion for giving back, but like most everyone else, I have limited resources to give. That means I need to choose where my dollars go—and they follow my heart. I identify and support organizations that align with my interests.

It can be overwhelming since there are so many deserving organizations which rely on contributions.

The Washington CPA Foundation is

Borgens

Carsley

Named Scholarship Recipients Moss Adams LLP Accounting Scholarship: Lindsey Borgens Central Washington University, Ellensburg, Class of 2013 Lindsey held internships with Moss Adams and CH2M Hill Plateau Remediation and is very active in many organizations. She intends to pursue a Master’s in Accounting, and her CPA license.

Sambataro Family Accounting Scholarship: Joel Carsley University of Washington, Michael G. Foster School of Business (Accounting and Information Systems major), Class of 2013 An intern at Ernst & Young, Joel previously worked as a personal banker for JP Morgan Chase. An active member of many organizations, he aspires to have a career at a large firm in the Seattle area.

Roy J Polley Memorial Scholarship: Aaron Erickson Central Washington University, School of Business (Accounting major), Ellensburg, Class of 2013 www.wscpa.org

extremely grateful that so many WSCPA members choose to contribute, and by doing so support the Foundation’s mission: • To support future CPAs through scholarships, • To support financial literacy programs in our state by awarding small grants, and • To support future accounting

Erickson

Ewton

Ph.Ds., which in turn ensure college programs are successful.

For the 2012-13 school year, the Foundation awarded 19 scholarships for a total of $55,000. These scholarships are possible thanks to contributions from individuals, and from organizations via the named scholarship program.

Congratulations to this year’s scholarship recipients!

Gullikson

The incoming Chapter President for the CWU chapter of Beta Alpha Psi (BAP), Aaron is an intern with CliftonLarsonAllen LLP in Yakima. He wants to build a career in the accounting profession and plans to assist in the development of young, aspiring CPAs through maintaining contact with educational institutions.

George Waterman Memorial Scholarship: Katie Ewton Seattle Pacific University, School of Business and Economics (Accounting major), Class of 2013 Katie held a finance internship for the City of Mill Creek and is secretary of the SPU chapter of BAP. After graduation, Katie plans to earn her CPA license, work in taxation at a mid-sized firm, and eventually open her own accounting practice.

Shimer Family Accounting Scholarship: Jeff Gullikson Seattle Pacific University, School of Business and Economics, Class of 2014 A volunteer tax preparer for United Way of King County, Jeff plans to earn his CPA license after graduation and wants

Hansen

Heintz

to use his skills to assist and counsel people in difficult financial situations.

PwC LLP Accounting Scholarship: Leigh Hansen University of Washington, Michael G. Foster School of Business (Accounting major), Class of 2012 (Winter) An accountant at Digital Lifeboat in Seattle, Leigh plans to earn a Master’s degree in Professional Accounting and her CPA license. She aspires to work in a Big 4 accounting firm and climb the corporate ladder.

KPMG LLP Accounting Scholarship: Nolan Heintz University of Washington, Michael G. Foster School of Business (Accounting major), Class of 2012 Nolan intends to enter the Master’s of Professional Accountancy program. He served as president of the UW Chapter of the Sigma Phi Epsilon fraternity and worked as a comedian in the Los Angeles area. Nolan plans to work in taxation in a large public accounting firm and attend law school someday.

WashingtonCPA September/October 2012

19

Scholarship recipients

Matsumoto

Xue

True Blue Enterprises Accounting Scholarship: Ashley Matsumoto University of Washington, Michael G. Foster School of Business (Accounting major), Class of 2013 Ashley has completed an internship with Amazon.com and spent Spring and Summer Quarters of 2012 studying in Japan. She plans to become a CPA and work in the accounting profession internationally, most likely in Japan.

Ernst and Young LLP Accounting Scholarship: Adeline Mercado* University of Washington, Michael G. Foster School of Business (Accounting major), Class of 2013 Adeline has held internships with PricewaterhouseCoopers in New York and the UW Business and Economic Development Center in Seattle. An AICPA Minority Scholarship recipient in 2011, Adeline aspires to work in a large public accounting firm specializing in the entertainment industry.

Wells Fargo Accounting Scholarship: Samantha Xue University of Washington, Michael G. Foster School of Business (Accounting major), Class of 2013 Samantha has held internships at Meridian Capital LLC Investment Bank, Goldman Sachs, and Altig International of Redmond,WA. She plans to earn her CPA license after graduation and an MBA after a couple of years of work experience. She aspires to work in corporate accounting for a multinational corporation.

Washington CPA Foundation Scholarship Recipients Ling-Hung Cheng University of Washington, Michael G. Foster School of Business (Accounting major), Class of 2013 (Winter)

20

Cheng

Gorton

Mahtani

In addition to attending school fulltime, Ling-Hung is an accounting assistant for Artizo LLC in Issaquah. She looks forward to establishing her place in the local accounting community and someday hopes to provide guidance to aspiring CPAs. David Gorton Eastern Washington University, School of Business and Public Administration, Class of 2013 David is a certified tax preparer and is a certified College Reading and Learning Association Level 3 Master Tutor. David plans to earn his CPA license and hopes to become a partner in a public accounting firm.

Natasha Mahtani University of Washington, Michael G. Foster School of Business (Accounting major), Class of 2013 Natasha is an intern at Savers Inc. of Bellevue and is an officer for the UW chapter of BAP. She hopes to become an audit manager at a mid-sized CPA firm that specializes in non-profit organizations.

Malori McGill Gonzaga University, School of Business Administration (Accounting major), Class of 2014 A native of Salt Lake City, Utah, Malori has held internships with Fairview Learning and the Salt Lake City Hilton City Center Hotel. Active in many organizations, she spent a year as the executive assistant for the Gonzaga Student Body Association. Malori plans to earn her CPA license and work with a large accounting or investment firm.

Erin Nesheim Seattle Pacific University, School of Business & Economics (Accounting major), Class of 2013

WashingtonCPA September/October 2012

McGill

Nesheim

An active member of the SPU chapter of BAP, Erin has worked in accounts receivable for North Harbor Diesel and Yacht Service in Anacortes. A Junior Achievement volunteer in the Seattle school district, Erin held a summer internship with Moss Adams. She hopes to become a senior manager in a midsized accounting firm.

Jamie Toyoda University of Washington - Tacoma, Milgard School of Business, Class of 2013 Jamie held an internship with Seasonal View LLC of Tacoma and is the co-chair of the public relations committee for the Associated Students of the UW – Tacoma. After earning her CPA license, she aspires to become a forensic accountant and work for the FBI.

Northwest Accounting Educators Scholarship Recipients Recipients are transferring from community college to a university.

Natalie Holm Natalie recently completed her Associate’s Degree at South Puget Sound Community College and will be attending the University of Washington – Tacoma this fall. Natalie served as a page for the Washington State Senate and has been active in many activities and clubs. Natalie is considering specializing in taxation at a public accounting firm.

Allison Huston Allison recently completed her Associate’s Degree at South Puget Sound Community College and will attend Western Washington University in the fall. She was an active member of Future Business Leaders of America in high school and continues to be active in many organizations. Allison plans a career in public accounting after earning her CPA license. www.wscpa.org

Washington CPA Foundation

Toyoda

Holm

Huston

Duc Truong Duc recently completed an Associate’s degree from Shoreline Community College and will transfer to the University of Washington in the fall. Mr. Truong is active in student government at SCC and serves as a peer mentor for the Shoreline HEROES program. Duc plans to earn his

Truong

CPA license after graduation and wants to work in the non-for-profit arena. He aspires to become the first Vietnamese State Representative in the Washington State Legislature. * Photo coming soon to www.discovercpa.org

Thank you for your continued support of the future of the accounting profession. If you would like more information about the Foundation or how to contribute, please contact Kimberly Scott at kscott@wscpa.org.

Scholarship applications are available in November for the next school year. Visit www.discovercpa.org to download an application form.

IRS or Washington State Tax Problems?

Experience Can Make A Difference.

IRS, Revenue and Labor & Industries Audits: Administrative and Judicial Appeals & Refund Actions; Lien & Collection Problems; Tax Planning; Commercial Litigation.

Martin Silver  ü L.L.M. (Tax) New York University  ü Author of Washington Taxes: Representing Taxpayers Before The Department of Revenue, (Butterworths 1992)  ü Adjunct Professor, Golden Gate Representing Businesses and Professionals Nationwide, Confidentiality Guaranteed.

OFFICES OF

Martin Silver, P.S. Attorneys & Counselors

1420 Fifth Avenue, Suite 3000 | Seattle, Washington 98101-2393 | Telephone (206) 224-3461 | Fax (206) 224-3459 www.wscpa.org

WashingtonCPA September/October 2012

21

©Veer.com\Fancy Photography

Technology Tip

Keep all important information in one location and even share it with others. Stop spending hours searching networks and hard drives. Keep information at your fingertips and accessible on your phone, other computers, and other electronic devices.

I

magine a central location for all information. A place where you can easily store all data for your next business trip, a place where you can collaborate with your team on work projects, a place where you can keep notes about meetings, about new accounting practices, about client projects and integrate tasks with Outlook. OneNote is this place. If I am doing research for a business trip using Internet Explorer and I want to compare various airline prices and schedules, I simply select the flights I want to compare, right click and send them to OneNote. Once I book a flight and a

OneNote: Microsoft’s Best New Tool for Organization and Collaboration

By Sandy Rylander car and receive confirmation notices in my Outlook e-mail I simply send them to OneNote using the OneNote tool in Outlook. I do the same for any research on restaurants and activities in the area.

I have all my notes in one location and I can access them all on my smart phone using the OneNote phone application!

This is just one example of how I use OneNote. I have notebooks professionally for business opportunities, client projects, tasks, technical notes, and receipts.

In addition, I have notebooks personally for vacations, recipes, and investments, etc.This tool is not only great for keeping all information in one location; it makes all that information easy to search. Before OneNote it would take me forever to find all the information I needed, now I have one place to search for everything.

The One Place You Will Look

Have you ever put your keys down and had a hard time finding them? Or taken a note on a sheet of paper and

misplaced it? Or maybe you are extremely organized and the only problem is that you don’t know which of your folders or notebooks you used to take your notes.

If any of these sounds like you, then you will love OneNote. OneNote is a digital notebook that becomes the one place you will look to find information on anything and can be accessed from any computer with an internet connection, or from your phone, iPad, or Kindle Fire, which makes it ideal for accessing notes anywhere and anytime.

Organize Everything

OneNote allows you to keep all notes (whether handwritten on a tablet or typed), pictures, screen clips, video, audio, e-mail attachments and drawings in one easy-to-access place and all are searchable. It is great for projects, meeting notes, research, receipts, photo logs, personal notes, etc. OneNote helps you stay organized, share information with others and find information quickly.

A Look at OneNote Figure 1 Collaboration features Figure 2 Tags

Figure 3 Research and add data

22

WashingtonCPA September/October 2012

www.wscpa.org

technology Tip

Create Notebooks & Share

OneNote allows you to create unlimited private and public notebooks which make it ideal for collaboration. By sharing notebooks with others, you can take and edit notes simultaneously with people in other locations or just keep everyone across work groups, departments, or among family members informed.

Versatile and Easy to Use

One note is an integral part of the Office 2010 suite, or it can be purchased as a standalone product. You can link information from Excel, Outlook, Word, etc. to OneNote, send or print information from Office programs to OneNote, or attach files to OneNote. Internet Explorer also lets you select and right click an item to send it to OneNote.

Take a look at just a few reasons OneNote is a phenomenal office tool:

Collaboration See Figure 1

• OneNote allows you to view notes by author, date created, etc., using Find by Author or Recent Edits. Notice that all notes are appended to the right with the author’s initials, and notes that meet the search criteria are highlighted in yellow.

• Many people can take notes at the same time and read other people’s notes to stay informed.

Flexibility • •

or picture in OneNote as a fully, searchable item, it also appends the article with a link to the web site should you need to return to it for future reference.

Notebooks can be public or private and can be password protected.

Notebooks can be viewed on your phone, iPad, Kindle Fire, etc.

OneNote is great as a standalone product and exceptional as a collaborative tool for your office and at home.

Once you start using OneNote, I am certain you will discover more and more uses for this amazing product. In this article, I have barely scratched the surface on how OneNote can help you increase your efficiency.

Tags See Figure 2 •

Items can be marked with tags like Important, To Do, Question etc., so that they can be found quickly using search. They can also be tagged as Outlook tasks to synchronize them with Outlook.

Sandy Rylander is founder of Rylander Consulting. You can contact her at sandy@ rylanderconsulting.com. Come hear Sandy speak at the following technology seminars at the WSCPA Learning Center in Bellevue.

Each seminar qualifies for four technical CPE credits. Register at www.wscpa.org.

Comprehensive Search

• Easy to find information using the many search tools.

• Everything in OneNote becomes searchable, even text in pictures that you copy from the other documents, the web, etc.

• Search for text, tags, author, date, etc.

Learn More

Research and add data from the Internet, other documents, Outlook, etc. See Figure 3 •

When using Internet Explorer, simply select an article and right click to send it to OneNote.

This not only places the article

October 24 Power Tips and Tricks for Microsoft Excel with Sandy Rylander Microsoft Excel Tables and Data Tools with Sandy Rylander October 26 Word Tips and Tricks with Sandy Rylander OneNote 2010 Essential Training with Sandy Rylander

Did you know in the fall of 2008 the FASB, as part of the convergence project, published its proposal for reformatting financial statements?

Did you know...?

Many experts believe an implementation date of 2013 is possible. The proposal realigns the balance sheet and the income statement along the lines of the statement of cash flows. To learn more about these financial statement changes and others please register for the following WSCPA course: WEBCAST Reformatted Financial Statements 2012 Updates and Conclusions Dates

October 19

Code

WEB116

Location

Your Desk

CPE

8 credits

Register at www.wscpa.org or call (425) 644-4800. www.wscpa.org

WashingtonCPA September/October 2012

23

Professional conduct

Just a Couple Shades of Grey ...

By Jeanne Nguyen, CPA hether you work as a Certified Public Accountant in public practice, industry, government or education, you are aware that our profession is defined by and held to a code of ethics.

It is our professional responsibility to adhere to this code, even if we find ourselves in a predicament as a result of a client’s actions. Or perhaps we have made decisions without thoroughly considering the consequences. As a WSCPA member, you may turn to the Professional Conduct Committee if you have a question that is not directly addressed by professional guidance. As a member of the WSCPA Professional Conduct Committee, I field inquiries made by WSCPA members. You may be wondering what types of questions are posed to the Professional Conduct Committee. Members of the Professional Conduct Committee exercise their best judgement to address questions where there is a lack of clear professional guidance. This article features two examples of inquiries that are commonly submitted to the Committee by practicing CPAs. Situation: You or your firm have prepared the tax return or audited, reviewed or compiled the financial statements of a client and the client has provided you with their original documents.

After you have completed the engagement, the original documents remain in your possession and the client has not made a request for the return of their documents. Several years have passed and you are unable to reach the former client. You have attempted to return the original documents to the last known physical address and the documents are returned with no forwarding address.

Your firm incurs storage fees to retain the documents.

What do you do and what does our profession require when client confidentiality and records retention are some of our responsibilities to our client? There is

24

What is your responsibility to return client records if you are unable to locate a former client?

no code or guidance available that clearly states what our professional responsibility is when our clients abandon their documents. Is there a statute of limitations when the documents go unclaimed and a company can release the documents to either unclaimed property or the shredding bin? Although there is no right or wrong answer, the best practice would be similar to your company’s policy for archiving files and retaining client tax returns. After so many years have passed, you can then securely shred the documents.

Here is another situation that we all face: the dreaded conversation of overruns on an engagement such as preparation or review of a tax return, or agreeing to a fee quote when you do not have all of the necessary facts and information. The client disputes the fees and refuses to pay. What are your options to collect payment for the services that have been rendered?

Situation: Prior to starting a nonattest engagement, you and your client agree to fees based on facts and circumstances provided by your client and review of the previous tax return. However, the client fails to provide you with new key facts that complicate the tax return, and therefore you incur additional time as a result. The omission was not intentional by the client. You have completed the tax

WashingtonCPA September/October 2012

©Veer.com\OJO Images Photography

W

return and indicate to your client that the fees for the tax return are higher than anticipated due to the complex nature of the new transactions that affect your client’s return. The client refuses to pay the additional fees and you decide to defer the return until payment is received in full. Can you hold your client’s tax return until you receive payment?

As professionals, our responsibility is to our clients. It does not appear that you have the client’s best interest in mind if you are withholding a client’s tax return until full payment is received. As you foresee overruns, it’s generally best to contact your client immediately to discuss the issues you are facing, and inform them that they are going to incur additional costs. This gives the client an opportunity to decide whether they would like you to proceed with the tax return. By communicating to them upfront, you earn your client’s trust and avoid potential surprises in the end.

If you have any questions, you can contact the Professional Conduct Committee through Julie Phipps,WSCPA Manager of Professional Standards, at jphipps@wscpa.org or (425) 586-1132.

Jeanne Nguyen, CPA, is an Assurance Manager with PwC in Seattle, She has been a member of the WSCPA Professional Conduct Committee since 2010. www.wscpa.org

Financial Literacy

Investing Wisely: It’s Not Just for Grown-Ups Anymore

By Alicia Diefenbach aking a presentation on investing?

Scary? Nah, not for you. You love it in spite of the fact that public speaking is listed as America’s number one fear.

There’s just one group of people that you might be terrified to talk to.You may even be going out of your way not to talk to them. They’re the most critical audience of all. They’re the audience that will fall asleep in their seats even though they know it’s rude. They will snicker at you if your joke falls flat. They won’t even try to stifle a yawn from their front row seat if you have too many pie charts in your visual presentation. They can be the most intimidating audience, and yet, strangely, the most rewarding of all when it goes well. Who are these terrifying people?

Teenagers.

As a former financial services regulator and now, a self-employed financial educator and consultant, I’ve taught investing, fraud prevention and personal finance skills to teenagers for the last 13 years.

I assure you that you can pull together a presentation that will impress, motivate, and entertain your teen audience using a handful of foolproof techniques.

Disregard What You Know about Impressing Grown-Ups

Everything you were taught to do to impress grown ups? Toss it out the window and do the opposite.

Teens have, on average, 12 to 15 adults telling them what to do every day. You’re just another one until you show them you really might not fit into the grown up world so easily.They understand alienation. If you are scared of talking to them, admit it. If you know your topic is traditionally viewed as boring, confess this right up front.

Tell them you really care about showing them a new way to look at things that changes those preconceived notions about investing. Let them know you want their feedback afterward so you can www.wscpa.org

There’s just one group of people that you might be terrified to talk to. You may even be going out of your way not to talk to them.

©istockphoto.com\Digital Planet Design

M

improve the next presentation and ask if they’ve changed their perspective on the subject. Be prepared for a direct critique, but that’s a good thing. It let’s you know they listened.

Own Your Mistakes

Dramatic mistakes make for great illustrations of the time value of money.

This can be difficult for some adults, but it works if you’re honest with them.

Confess to that embarrassing Tasmanian Devil tattoo a friend dared you to get on spring break back in 1998, and show them how much the cost of that tattoo would be worth if you’d invested the money instead. Tell them about the brand new car you bought, and how the interest paid compounded for the loan company instead of you. Tell them how much that car cost you over time.

Don’t judge their spending purchases.

Avoid suggesting they stop upgrading their phones or drinking coffee with their friends. Teens are smart. If you tell them that everyone has a choice, that they can trade two coffee drinks a week today for a six figure payout from their IRA down

the road, you’ll raise some eyebrows – in a good way.

Be Sensitive to Social Issues and Keep it Appropriate

Today’s teens are politically active and socially aware. They value diversity in gender, heritage, and life choices more so than any previous generation. Avoid jokes about social or political causes.

Instead of saying “husband” or “wife,” say “spouse” or “partner.” Use “he” and “she” alternately. Don’t assume everyone in your audience can respectfully sit through a presentation. If you have audience members who seem as if they are misbehaving, it could be the method they use to cope with having to quietly sit still as a result of a medical condition. Ask your host in advance about any specific challenges students might be facing during your presentation and ask for guidance and support ahead of time.

Money is Power, But Who Cares?

Today’s teens seem more motivated about their impact on the world than

WashingtonCPA September/October 2012

25

material wealth. If you think you can entice them into investing by showing them how to amass a pile of wealth, guess again. The dollars don’t impress them. It’s what they can do with those dollars that interests them.

As you illustrate compounding interest and its inherent power, translate those dollars into things they care about.

The ability to contribute to a cause they care about. An opportunity to take a gap year and volunteer on the other side of the world. A chance to support their faith based organization. If you know what

Did you know...?

26

motivates and inspires them, you’re far more likely to get them to start saving.

Have Fun and Be Yourself

If you aren’t enjoying yourself, they aren’t either. Think about great presentations you’ve attended and incorporate some of that fun into yours.

Know what props you’re good with.

I prefer not to work with PowerPoint because it ties me down to specific content, and I decide what to teach after getting to know my audience. Use whatever you’re most comfortable with so you

don’t feel awkward on stage.

When you’re comfortable, communicating your material, and having fun, your presentation is sure to help create the next generation of savvy investors.

A former employee of the Washington State Department of Financial Institutions, Alicia Diefenbach owns Consumer University, a financial education consultancy. She designs and delivers presentations and materials on investing, credit, identity theft prevention, and financial recovery.

Did you know that the International Financial Reporting Standards (IFRS) though not currently adopted by the Securities & Exchange Commission (SEC) is being used in U.S. companies? As U.S. companies, large and small continue merging into global markets, IFRS will continue growing as a global standard in the US. To learn more about IFRS, its convergence issues, financial statement presentations and accounting treatment for such things as assets, consolidations and revenue recognition, please register for the following WSCPA courses: IFRS vs. US GAAP: The Differences That You Need to Know

IFRS Essentials with GAAP Comparison: Building a Solid Foundation

IFRS Update and Review of Complex Topics

Date

Oct 4

Date

Dec 7

Date

Nov 15-16

Code

IUGD02

Codes

IUP

Code

IFRS

Location

Bellevue

Location

Seattle

Location

Bellevue

CPE

8 credits

CPE

8 credits

CPE

16 credits

WashingtonCPA September/October 2012

www.wscpa.org

©Fire Eyes Photography

Financial Literacy

CPE Digest WSCPA webcasts Yellow Book Audits What You Need to Know

Washington CPA Ethics and New Developments (A WA Requirement)

with Laura Lindal, CPA

with Mark Hugh, CPA

Are you aware of the changes in the 2011 version of Government Auditing Standards? While focusing on the differences between GAAS audits and GAGAS audits, Yellow Book Audits - What You Need to Know will review the changes and reveal how those changes may affect performance and documentation requirements of Yellow Book audits. Identify fieldwork and reporting standards for financial audits, attestation engagements, and performance audits. Gain an understanding of applicable professional education requirements.

This webcast qualifies for four technical CPE credits and is offered December 11 and January 8, 2013.

Did you know that you can satisfy Washington state’s ethics CPE requirement for license renewal by viewing a WSCPA webcast?

Mark Hugh’s Washington CPA Ethics and New Developments (A WA Requirement) will help you to understand and comply with the Public Accountancy Act and the Rules and Policies of the Washington State Board of Accountancy with specific application of RCWs and WACs to the practice of public accounting in the state of Washington. Plus, review major provisions of the AICPA Code of Professional Conduct.

Thanks to technology, you have several opportunities to view this webcast:

DATE

December 11

January 8

TIME

8am-12pm

8am-12pm

DATE

September 5

October 3

October 27

November 27

CODE

WEB186

WEB213

TIME

8am-12pm

8am-12pm

8am-12pm

8am-12pm

CODE

WEB092

WEB108

SWEB018

WEB160

View a sample of this webcast by scanning the QR code below, or visit the WSCPA channel on YouTube (www.youtube.com/user/WashingtonCPAs).

Laura Lindal has more than 20 years of experience in auditing, including audits performed in accordance with OMB Circular A-133 and Government Auditing Standards.

View a sample of this webcast by scanning the QR code below, or visit the WSCPA channel on YouTube (www.youtube.com/user/WashingtonCPAs).

Mark Hugh is the principal of Mark Hugh PLLC. He is a frequent trainer and speaker regarding state and local tax issues.

WSCPA webcasts

www.wscpa.org

Yellow Book Audits What You Need to Know

Washington CPA Ethics and New Developments (A WA Requirement)

To view the complete schedule of WSCPA webcasts go to page 34.

WashingtonCPA September/October 2012

Take a test drive

Scan these QR codes with your smart phone barcode scanner app to watch samples WashingtonCPAs of these webcasts.

27

Conferences

Pacic Tax INSTITUT E

Accounting & Auditing Conference

October 29-30 | 8:00 a.m. - 4:30 p.m.

Bell Harbor International Conference Center, Seattle, WA

November 1 | 8:00 a.m. - 4:00 p.m.

Bell Harbor International Convention Center, Seattle, WA

This is the Tax Institute to attend in Washington State!

The Pacific Tax Institute, a conference designed for experienced tax professionals, will explore the many changes in federal tax.

Spend two days with the nation’s top experts, taking a close look at important federal tax issues that affect your clients.

A&A standards change every time you turn around.

Make sure you don’t miss a critical change. The Accounting & Auditing Conference, now held at a new location, will provide the guidance you need to stay in compliance with the many A&A rules affecting your practice, business or clients.

General Sessions

General Sessions

Healthcare Reform Legal Liability Speakers International Tax Enforcement Passive Activities Include Strategies in Handling an IRS Audit Federal Tax Update

Concurrent Sessions

Estate Planning for Unmarried Couples Foreclosures Cross Border Investing Debt Forgiveness New Tangible Property Regulations Derivatives and Procedures Book your room now! The Marriott - Seattle Waterfront room block expires September 7.

FEES

2 days

WSCPA Members $700 Non Members $775

1 day $350 $425

Karen Brosi

Concurrent Sessions

William Freedman Wendy Goffe Bob Kane

Webcast (2 days) $500 $575

Includes up 16 CPE credits, free parking and networking reception

Register for PTI at www.wscpa.org/conferences

Fraud Conferenc e Co-sponsored by the Pacific NW Chapter of ACFE

28

Lloyd Born

SOC Reports/SAS 70 ASB/Audit Update Leasing and Revenue Cyber Fraud & The Electronic Evidence Trail

WashingtonCPA September/October 2012

Mary Marino Philip Panitz Charles Rettig Jeffrey Rubinger Roger Upton Ed Zollars

Sustainability Reporting and Auditing Ethics and Independence Employee Benefits Update Comp and Review/Yellow Book IFRS for Small and Midsized Enterprises

FEES WSCPA Members $325 Non Members $400

Webcast $275 $350

Includes 8 CPE credits, free parking and networking reception

Speakers Include Christopher Kradjan Mike Glynn Marilee Lau Peter Margaritis And many more exceptional speakers!

Watch for updates on the website and brochure.

Register for AAC at www.wscpa.org/conferences

December 7 | 8:00 a.m. - 4:20 p.m.

Courtyard Marriott, Bellevue, WA Computer Forensices - Identity Theft Fraud Schemes Securities Fraud Case Studies - Corporate Fraud - Mortgage Fraud

FEES WSCPA Members $250 Non Members $325

Includes 8 CPE credits and free parking

Register for FDC at www.wscpa.org/conferences Register at www.wscpa.org/conferences www.wscpa.org

Register at www.wscpa.org or page 37

conferences

Pacific NW Constr uction Industr y Conferenc e

Not-For-Profit Conference

November 8-9 | 8:00 a.m. - 4:30 p.m.

Bell Harbor International Conference Center, Seattle, WA

November 15-16 | 8:00 a.m. - 4:30 p.m.

Bell Harbor International Conference Center, Seattle, WA

General Sessions

General Sessions

A&A Update for the Construction Industry Construction Industry Tax Update Leveraging Your Competitive Advantage by Improving Productivity Contractor Panel Project Construction Management Improving Cash Flow Insurance/Surety Market Update Banking Panel

FASB Update State of the State Sector Building a Nonprofit Movement Secrets to Success in the Finance-Development Partnership Fierce Competition and Industry Consolidation Speaking When You Don’t Want To

Concurrent Sessions

Concurrent Sessions

Internal Controls: An Ounce of Prevention is Worth a Pound of Cure Construction Liens in Residential and Commercial Contexts Getting Paid: A Primer Building Your Talent Pool for Future Growth Hot Washington Tax Developments for the Construction Industry Political Update Economic Outlook -- Local, Regional, National, Global ESOPs as an Exit Strategy – What Owners and Executives Need to Know

FEES WSCPA Members $575 Non Members $650

Book your room now!

The Marriott - Seattle Waterfront room block expires October 17.

Analyze Financial Statements Like a Banker Do I Have What It Takes to Make the Move to CFO? Hot Washington Tax Developments for Nonprofits Dealing with Difficult People Panel: Federal Grant Compliance (A-133) Issues and Solutions Avoiding and Surviving IRS Tax-Exempt Bond Audits Creating a Powerful Investment Policy Statement FASB Hot Topics Sound Governance and Leadership for Nonprofit Organizations Endowment Management Avoid Problems on Your A-133 Audit Form 990 Update and Hot Topics

Includes 16 CPE credits, free parking and networking reception

Register for CIC at www.wscpa.org/conferences

Register for NFPC or WEBNFPC (webcast) at www.wscpa.org/conferences

Infor mation Tec hnology Conferenc e Register for ITC at www.wscpa.org/conferences Register at www.wscpa.org/conferences www.wscpa.org

Webcast $375 $450

Includes 16 CPE credits, free parking and networking reception

FEES WSCPA Members $425 Non Members $500

December 10-11 | 8:00 a.m. - 4:00 p.m.

Meydenbauer Center, Bellevue, WA Learn about the latest technologies of interest to accounting professionals: Ultrabooks, mobile technologies, Windows 8, Office 15, Internet Explorer 10, virtual desktops, cloud and security technology trends.

FEES WSCPA Members $580 Non Members $660

Includes 16 CPE credits and free parking

WashingtonCPA September/October 2012

29

Register at www.wscpa.org/CPE/catalog or page 37

Education and events

Fees

Date Course events by location WSCPA education and events scheduled for September# November 15, 2012 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.

CPE Credits

Type

2012-2013 EVENT SCHEDULE To view the complete schedule of events through May 2013, refer to the CPE/Event Catalog at www.wscpa.org.

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

Code

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

WSCPA NonAICPA Member Member Member Discount Fee Fee

SUBJECTS The main subject area is listed for each program.

Facility A&A CS EB PFP Ethics GNP

Need help finding a seminar or webcast?

Call (800) 272-8273 or (425) 644-4800.

MG PD SK TAX TEC

Fees

Date

CPE Credits

#

Course

Type

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

Facility

Subject

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

Ø

Subject

Bellevue Sep 5

8

Sep 5-6

16 6

GAAP Update and Review for Small and Medium-Sized Entities (SMEs) by Walter Haig, 8am-4pm

GURSME02

305

380

Sheraton Bellevue

A&A

Northwest Accounting Educators Conference, 8am-4:20pm

NAEC

185

185

WSCPA

A&A

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

CRUR02

305

380

Sheraton Bellevue

A&A

WSCPA

GNP

S 

Sep 6

8

Sep 10

8

Sep 10

8

Sep 11

8

Y Y

The 2011 Revised Yellow Book: Government Auditing Standards, 8am-4pm

EOYB

285

360

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

EXL01

285

360

Accounting and Reporting Practices of Not-for-Profit Organizations, 8am-4pm

FSNPO01

285

360

Sep 11

8

QuickBooks for Accountants, 8am-4pm

QBP

285

360

Sep 12

8

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

CAAT

285

360

ç Sep 12

8

Cloud Computing, 8am-4pm

CLC01

285

360

Sep 13

8

Real Estate Accounting and Auditing, 8am-4pm

REAA

285

360

Sep 17

4

Ethics Training for CPAs in Washington by Thomas Neill (WA State Requirement), 8-11:30am

CENRW402

185

220

E

-30

-30 -30

WSCPA

TEC

WSCPA

A&A

WSCPA

TEC

WSCPA

A&A

WSCPA

TEC

WSCPA

A&A

WSCPA

Ethics

Sep 19

8

Revenue Recognition: Getting the New Standard Right, 8am-4pm

RRNS

285

360

-30

WSCPA

A&A

Sep 20-21

16

SEC Reporting, 8am-4pm

SECR

485

600

-30

WSCPA

A&A

Sep 20

8

Washington Tax and New Developments, 8am-4pm

WSTX02

285

360

WSCPA

TAX

Sep 26

8

Financial Statement Presentation and Disclosure, 8am-4pm

FSPD03

285

360

WSCPA

A&A

Sep 26

8

Sep 27

8

Sep 27

8

Sep 28

8

6 Communicating from Strength, 8am-4pm

CFS01

285

360

Basis/Distributions for Pass-Through Entities: An IRS Hot Spot, 8am-4pm

BDPTE01

285

360

WSCPA

PD

WSCPA

TAX

C

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

SSRB

295

370

WSCPA

TAX

C

Determining How Much Money You Need to Retire, and Tax Ideas and Money Management in Retirement, 8am-4pm

DRMM

295

370

WSCPA

TAX

Taxation Essentials of LLCs, LLPs, LPs and Other Partnerships, 8am-4pm Not-for-Profit Accounting & Reporting: From Start to Finish, 8am-4pm

TLLLO01

285

360

-30

WSCPA

TAX

NPAR

285

360

-30

WSCPA

GNP

WSCPA

A&A

Sep 28

8

Oct 2

8

Oct 4

8

IFRS vs. US GAAP: The Differences That You Need to Know, 8am-4pm

IUGD02

285

360

Oct 5

8

The Reid Technique of Interviewing and Interrogation, 8am-4pm

RTI

285

360

Oct 8

8

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

AUAA01

285

360

Oct 10

8

More QuickBooks for the Accounting Professional, 8am-4pm

COMQB201

250

ç Oct 11

8

Business Law Refresher: What Every Financial Manager Should Know, 8am-4pm

BLR

285

Y

ç New |  non-tech credits | E Ethics credits |  Conference | Y Yellow Book | C CFP | l Chapter event |

30

-30

WashingtonCPA September/October 2012

-30

WSCPA

SK

WSCPA

A&A

325

WSCPA

TEC

360

WSCPA

MG

-30

Networking Event | S Season Ticket and Coupons N/A

www.wscpa.org

Register at www.wscpa.org/CPE/catalog or page 37

Education and events Fees

Date

CPE Credits

#

Course

Type

Code

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

WSCPA NonAICPA Member Member Member Discount Fee Fee

Facility

Subject

Oct 11

8

Introduction To Excel Visual Basic Macros, 8am-4pm

COMEXV01

250

325

WSCPA

TEC

ç Oct 12

8

Skillful Negotiations: Get the Most from Your Banker, Customers and Vendors, 8am-4pm

SN

285

360

WSCPA

MG

Oct 16

8

FASB Review for Industry, 8am-4pm

FASBI01

285

360

-30

WSCPA

A&A

Oct 17

8

Advanced Estate Planning: Practical Strategies for Your Clients, 8am-4pm

AEP

285

360

-30

WSCPA

TAX

Oct 18

8

Form 990: AICPA’s Answer to Unlocking the Tax Complexities, 8am-4pm

EOF990

285

360

-30

WSCPA

TAX

Oct 19

8

Advanced Tax Structures: Using Tiered Partnerships, Multiple Corporations, ADTS Series LLCs, and Disregarded Entities, 8am-4pm

295

370

WSCPA

TAX

Y

Oct 19

8

Inside the IRS - A Tour for CPAs, EAs and Accountants, 8am-4pm

ITI02

285

360

ç Oct 22

8

Closely Held Business Taxation: Smart Strategies to Slash Taxes, 8am-4pm

CHTX01

285

360

Oct 22

8

Money Laundering - A Guide for CPAs, 8am-4pm

MLCPA02

285

360

Oct 23

8

S Corporation Key Issues, Compliance, and Strategies: An IRS Target Area, 8am-4pm

SCORP01

285

360

ç Oct 23

8

Advanced Tips and Tricks of Investment Tax Management to Enhance Client Wealth Accumulation and Retirement Security, 8am-4pm

TERS

295

370

Oct 24

8

AICPA’s Annual Update for Controllers, 8am-4pm

SKSB01

285

360

ç Oct 24

4

Power Tips and Tricks for Microsoft Excel with Sandy Rylander, 8-11:30am

PTT

140

ç Oct 24

4

Microsoft Excel Tables and Data Tools with Sandy Rylander, 12:30-4pm

METDT

140

ç Oct 25

8

Financial Managers Career Skills Workshop, 8am-4pm

FMCS

285

360

-30

WSCPA

MG

Oct 25

8

AICPA’s Annual Tax Update: Individuals and Sole Proprietors, 8am-4pm

TSUI01

285

360

-30

WSCPA

TAX

ç Oct 26

4

OneNote 2010 Essential Training with Sandy Rylander, 8-11:30am

ONET

140

175

WSCPA

TEC

ç Oct 26

4

Word Tips and Tricks with Sandy Rylander, 12:30-4pm

WTT

140

175

WSCPA

TEC

Oct 26

8

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

TSUC01

285

360

-30

WSCPA

TAX

Oct 29

8

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

CFIC

285

360

-30

WSCPA

A&A

Oct 29

8

Variable Interest Entity Consolidation Rules: Not Just a Big Company Issue!

8am-4pm

VIE

285

360

-30

WSCPA

A&A

Oct 30

8

Advanced Income Tax Accounting - Including Practical Application Exercises, 8am-4pm

ADTX

285

360

-30

WSCPA

A&A

Oct 30

8

Internal Control Deficiencies: Assessment and Reporting Under SAS 115, 8am-4pm

ICDAR

285

360

-30

WSCPA

A&A

Oct 31

8

LLC and Partnership Taxation: Beyond the Basics, 8am-4pm

NBLLC

285

360

-30

WSCPA

TAX

ç Oct 31

8

Real-World Fraud: War Stories from the Front Lines, 8am-4pm

RWFR

295

370

WSCPA

A&A

Y

-30

WSCPA

SK

WSCPA

TAX

WSCPA

SK

WSCPA

TAX

WSCPA

TAX

WSCPA

A&A

175

WSCPA

TEC

175

WSCPA

TEC

-30

-30

Nov 1

8

Y

Form 990: Moving Beyond the Basics, 8am-4pm

AF990

285

360

WSCPA

TAX

ç Nov 1

8

Y

I See It! Bringing into Focus the New Clarified Auditing Standards, 8am-4pm

GNFR

295

370

WSCPA

A&A

Nov 2

4

E

Ethics Training for CPAs in Washington by Thomas Neill (WA State Requirement), 8-11:30am

CENRW404

185

220

WSCPA

Ethics

Advanced Real Estate Accounting, Auditing & Taxation, 8am-4pm

ARE

285

360

WSCPA

A&A

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

CIRA

295

370

WSCPA

TAX

Nov 5

8

ç Nov 5

8

C

Nov 6

8

Business Law for Accountants, 8am-4pm

BLT

285

360

ç Nov 6

8

Effectively and Efficiently Reviewing Tax Returns in Busy Season, 8am-4pm

ERTW01

295

370

Nov 7

8

Nov 7

8

Nov 8

8

ç Nov 8

8

Nov 9

8

C Y

Y

-30

-30

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

BFTU01

295

370

The Top Ten Fraud Schemes: How to Detect and Prevent Them, 8am-4pm

TMCF

285

360

-30 -30

Studies on Single Audit and Yellow Book Deficiencies, 8am-4pm

SAYB

285

360

Streamline Tax Staff Training - Level 1- Individual with Case Study for 1040, 8am-4pm

STSI

285

360

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

EOAHUD

285

360

ç New |  non-tech credits | E Ethics credits |  Conference | Y Yellow Book | C CFP | l Chapter event |

www.wscpa.org

-30

-30

WSCPA

MG

WSCPA

TAX

WSCPA

TAX

WSCPA

A&A

WSCPA

GNP

WSCPA

TAX

WSCPA

A&A

Networking Event | S Season Ticket and Coupons N/A

WashingtonCPA September/October 2012

31

Register at www.wscpa.org/CPE/catalog or page 37

Education and events

Fees

Date

CPE Credits

#

Course

Type

Code

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

WSCPA NonAICPA Member Member Member Discount Fee Fee

Facility

Subject

ç Nov 9

8

Streamline Tax Staff Training - Level 2- Business with Case Study of 1065 & 1120S, 8am-4pm

STSB

285

360

WSCPA

TAX

ç Nov 12

8

Single-Member LLC (Schedule C And E) Strategies Update And Form 1065 LLC-LLP Compliance Review (LLC/LLP Super course), 8am-4pm

LLTC

290

365

WSCPA

TAX

ç Nov 13

8

Busy Season Update - Part 1 Of 2 - The Essential New Tax Developments, 8am-4pm

BSEU1

290

365

WSCPA

TAX

Nov 13

8

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

CGPT

295

370

WSCPA

TAX

ç Nov 14

8

Busy Season Update - Part 2 Of 2 - Tax Planning Review And Compliance Update - Business And Individual Clients, 8am-4pm

BSEU2

290

365

WSCPA

TAX

Nov 14

8

Fair Value Accounting: A Critical New Skill for All CPAs, 8am-4pm

FVA

285

360

-30

WSCPA

A&A

Nov 15-16

16

IFRS Essentials with GAAP Comparison: Building a Solid Foundation, 8am4pm

IFRS

485

600

-30

WSCPA

A&A

Nov 15

8

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

STRI

295

370

WSCPA

TAX

Sep 24

8

Financial Statement Presentation and Disclosure, 8am-4pm

FSPD02

285

360

Lakeway Inn & Conf Ctr

A&A

Sep 25

8

Compilation and Review Annual Update, 8am-4pm

CRAUD

285

360

Lakeway Inn & Conf Ctr

A&A

Nov 13

8

Innovative Tax Planning for Small Businesses: Corporations, Partnerships & LLCs, 8am-4pm

TPOC02

285

360

Lakeway Inn & Conf Ctr

TAX

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

CHSN01

25

25

Everett Golf & Country Club

TAX

Bellingham

-30

Everett Sep 11

2

Nov 7

8

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

AUAA03

285

360

-30

Comcast Arena Everett Events Ctr

A&A

8

Advanced Update for Compilation, Review and Accounting Services, 8am-4pm

RPCR01

285

360

-30

Three Rivers Conv Ctr

A&A

Showare Center Tour and Project Development, 7:30-9am

CHSK02

35

35

Showare Center

SK

Elder Law, 7:30-9am

CHSK05

25

25

Golden Steer Restaurant

SK

S l

Kennewick Oct 22 Kent Sep 20

1.5 6

S l Nov 15

1

S l

Lynnwood Oct 18

8

AICPA’s Hottest Tax Topics for 2012, 8am-4pm

HOT

285

360

Lynnwood Conv Ctr

TAX

Oct 22

8

Advanced Selected Issues for Trusts, Estates, and Their Beneficiaries, 8am-4pm

ITEB

295

370

Lynnwood Conv Ctr

TAX

Oct 24

8

What’s New in Auditing: Implementation of the Clarity Standards, 8am-4pm

SASUP

285

360

Lynnwood Conv Ctr

A&A

Oct 29

8

49 Tax-Cutting Moves for Individuals, 8am-4pm

FNTC01

285

360

-30

Lynnwood Conv Ctr

TAX

Nov 9

8

Accounting and Reporting Practices of Not-for-Profit Organizations, 8am-4pm

FSNPO02

285

360

-30

Lynnwood Conv Ctr

GNP

Annual Accounting and Auditing Update, 8am-4pm

ACAU

295

370

Indian Summer Golf

A&A

Y

-30

Olympia ç Oct 30

8

Nov 2

8

C

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

BITU01

295

370

Indian Summer Golf

TAX

Nov 12

4

E

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

CENRW405

185

220

Indian Summer Golf

Ethics

Mergers, Acquisitions, and Sales of Closely Held Businesses: Advanced Case Analysis, 8am-4pm

PSAS

285

360

Washington State Conv Ctr

TAX

Pints and Pals at Pike’s Brewery, 6-8:30pm

NP03

20

20

Seattle Oct 22 Oct 25

8

S

ç New |  non-tech credits | E Ethics credits |  Conference | Y Yellow Book | C CFP | l Chapter event |

32

WashingtonCPA September/October 2012

-30

The Pike Brewing Co

PD

Networking Event | S Season Ticket and Coupons N/A

www.wscpa.org

Register at www.wscpa.org/CPE/catalog or page 37

Education and events Fees

Date

CPE Credits

#

Type

Oct 29-30

16



Nov 1

8

Nov 5

8

Nov 6

8

Y

Course

Code

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

WSCPA NonAICPA Member Member Member Discount Fee Fee

Facility

Subject

Pacific Tax Institute, 8am-4:30pm One day registration and webcast options available (Oct 29 PTI02, Oct 30 PTI03,WEBPTI)

PTI01

700

775

Bell Harbor Conf Ctr

TAX

Accounting & Auditing Conference, 8am-4pm.

Webcast option also available (WEBAAC)

AAC

325

700

Bell Harbor Conf Ctr

A&A

Bankruptcy Today: What Every CPA Must Know! 8am-4pm

BNKT

285

360

-30

Bell Harbor Conf Ctr

SK

Right The First Time: Cases In Not-For-Profit Accounting and Auditing, 8am-4pm

CNFP

285

360

-30

Bell Harbor Conf Ctr

GNP

Nov 7

8

AICPA’s Annual Update: Top 10 GAAP Issues Facing CPAs, 8am-4pm

TTGP

285

360

-30

Bell Harbor Conf Ctr

A&A

Nov 8

8

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

ICDAD01

285

360

-30

Bell Harbor Conf Ctr

A&A

Nov 8-9

16 6 

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

CIC

650

650

Bell Harbor Conf Ctr

SK

Nov 14

4

Health Care Reform Act Critical Tax Insurance Ramifications for You, Your Business and Your Clients, 8-11:30am

CL4HCRA

150

185

Bell Harbor Conf Ctr

TAX

ç Nov 14

4

High Sensitivity Advanced Topics Independence, Integrity, Objectivity, Confidentiality and Fiduciary Duty, 12:30-4pm

HSAT401

150

185

Bell Harbor Conf Ctr

SK

Nov 15

8

Small Business Accounting and Auditing Update, 8am-4pm

SBAA02

285

360

Bell Harbor Conf Ctr

A&A

Nov 15-16

16

NFPC

500

500

Bell Harbor Conf Ctr

A&A

Y Not-for-Profit Conference, 8am-4:30pm 6 Webcast option also available (WEBNFPC)

-30



Spokane Sep 11

S

Happy Hour Networking Event, 5-7pm

NP08

Steam Plant Grill

PD

Oct 9

S

Happy Hour Networking Event, 5-7pm

NP09

Steam Plant Grill

PD

8

Closely Held Business Taxation: Smart Strategies to Slash Taxes, 8am-4pm

CHTX02

285

360

Nov 1

8

The Best S Corporation, Limited Liability, and Partnership Update Course

by Surgent McCoy, 8am-4pm

BCPE01

295

ç Nov 2

8

Latest Developments in Nonprofit Accounting and Auditing 2012, 8am-4pm

NPAA

Nov 9

8

GAAP Update and Review for Small and Medium-Sized Entities (SMEs) by Walter Haig, 8am-4pm

Nov 12

8

ç Oct 23

Nov 13 Nov 14

8

Nov 14

2

Hampton Inn Spokane

TAX

370

Hampton Inn Spokane

TAX

295

370

Hampton Inn Spokane

A&A

GURSME03

305

380

Hampton Inn Spokane

A&A

Innovative Tax Planning for Small Businesses: Corporations, Partnerships & LLCs, 8am-4pm

TPOC01

285

360

Hampton Inn Spokane

TAX

S

Building Bridges at Double Tree in Spokane, 6-8:30pm

NP04

20

20

DoubleTree Spokane City Ctr

PD

Form 1041: Income Taxation of Estates and Trusts, 8am-4pm

ITET

285

360

S l

Who is the Typical Fraudster?, 12-2pm

CHSP02

50

50

Y

-30

-30

-30

Hampton Inn Spokane

TAX

The Spokane Club

A&A

Courtyard Marriott Tacoma

A&A

Courtyard Marriott Tacoma

TAX

Tacoma Oct 9

8

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

AUAA02

285

360

Oct 18

8

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

ACTL

295

370

Oct 19

8

Small Business Accounting and Auditing Update, 8am-4pm

SBAA01

285

360

-30

Courtyard Marriott Tacoma

A&A

Oct 30

8

49 Tax-Cutting Moves for Individuals, 8am-4pm

FNTC02

285

360

-30

Courtyard Marriott Tacoma

TAX

Nov 8

8

Nonprofit Auditing and Accounting Update, 8am-4pm

NAU

285

360

-30

Courtyard Marriott Tacoma

GNP

Nov 9

8

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

ICDAD02

285

360

-30

Courtyard Marriott Tacoma

A&A

ç Nov 14

8

Reading, Understanding, & Structuring LLC & Partnership Agreements for a CPA’s Perspective, 8am-4pm

RUSA

295

370

Courtyard Marriott Tacoma

TAX

Nov 15

8

S Corporation Key Issues, Compliance, and Strategies: An IRS Target Area, 8am-4pm

SCORP02

285

360

Courtyard Marriott Tacoma

TAX

Y

ç New |  non-tech credits | E Ethics credits |  Conference | Y Yellow Book | C CFP | l Chapter event |

www.wscpa.org

-30

-30

Networking Event | S Season Ticket and Coupons N/A

WashingtonCPA September/October 2012

33

Register at www.wscpa.org/CPE/catalog or page 37

Education and events

Fees

Date

CPE Credits

#

Type

Sep 6

1

S l

Oct 18

8

Oct 19

4

Course

Code

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

WSCPA NonAICPA Member Member Member Discount Fee Fee

Facility

Subject

Vancouver

E

Meet the Students Night, 5:30-9pm

CHSW02

60

60

Heathman Lodge

SK

Washington Tax and New Developments, 8am-4pm

WSTX03

285

360

Red Lion at the Quay

TAX

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

CENRW403

185

220

Red Lion at the Quay

Ethics

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

WEB092

164

194

Webcast

Ethics

Your Desk - Webcasts and Webinars Sep 5

4

E

Sep 5

4

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

WEB093

129

159

Webcast

TAX

Sep 5

2

WEBCAST Budget Basics - Myths of Budgeting and How to Overcome Them! (1 of 6 of the Budgeting Series), 3-5pm

WEB094

79

109

Webcast

MG

Sep 5

3

WEBCAST-EVENING Budget Priorities - How Reality-Based-Budgeting Really Works! (2 of 6 of the Budgeting Series), 5-8pm

SWEB006

99

129

Webcast

MG

Sep 5

3

WEBCAST-EVENING Budget Accountability - How to Ensure Accountability Gets Embedded in Your Budget Process! (3 of 6 in Budgeting Series), 5-8pm

SWEB007

99

129

Webcast

MG

Sep 6

4

WEBCAST 2012 Banking Financial And Compliance Update Series Third Quarter Update, 8am-12pm

WEB721

129

159

Webcast

SK

Sep 6

2

WEBINAR PowerPoint Level 1 - Creating Professional Presentations, 8-10am

WNR093

79

94

Webinar

TEC

Sep 6

2

WEBINAR PowerPoint Level 2 - Advanced Presentation Design, 11am-1pm

WNR094

79

94

Webinar

TEC

ç Sep 7

2

WEBINAR IFRS Introduction - What You Need to Know, 11am-1pm

WNR095

79

94

Webinar

A&A

Sep 8

2

WEBCAST - SATURDAY: Walkin’ Talkin’ Lookin’ And Listenin’, Or Things That Most Auditors Don’t Do Well, 7-9am

SWEB041

79

109

Webcast

A&A

Sep 8

8

WEBCAST - SATURDAY: Successful Wall Street Investing in 7 Steps, 8am-4pm

SWEB042

195

245

Webcast

SK

Sep 10

2

WEBCAST-EVENING Post Mortem Estate Planning, 3-5pm

SWEB015

79

109

Webcast

TAX

Sep 10

3

WEBCAST: Research and Development Tax Credits: Do You Know the Tax Savings These Create?, 9am-12pm

WEB301

99

129

Webcast

TAX

Sep 10

2

WEBINAR Compilation Engagements: Performing and Reporting, 9-11am

WNR133

79

94

Webinar

A&A

ç Sep 10

2

WEBINAR Closing Best Practices - Shortening Month-End, 8-10am

WNR096

79

94

Webinar

A&A

ç Sep 10

2

WEBINAR Fraud Alert - How Fraud Can Impact You! 11am-1pm

WNR097

79

94

Webinar

A&A

Sep 11

2

WEBINAR Why You Need Buy-In from Employees to Make Lean Manufacturing Work, 9-11am

WNR128

79

94

Webinar

A&A

ç Sep 11

2

WEBINAR S Corporations: Financial Accounting - Part I, 8-10am

WNR098

79

94

Webinar

A&A

ç Sep 11

2

WEBINAR S Corporations: Financial Accounting - Part II, 11am-1pm

WNR099

79

94

Webinar

A&A

Sep 12

8

WEBCAST 2012 Accounting & Auditing Update, 7am-3pm

WEB095

195

245

Webcast

A&A

Sep 12

2

WEBINAR Understanding Asset Impairment: Issues and Implementation, 9-11am

WNR135

79

94

Webinar

A&A

Sep 12

2

WEBINAR Tax Depreciation: Review & Update, 11am-1pm

WNR100

79

94

Webinar

TAX

Sep 13

3

WEBCAST: Pricing for Profitability Why Cost Matters, 2-4pm

WEB303

79

109

Webcast

A&A

Sep 13

2

WEBCAST: EVENING Contemporary Cost Concepts Understanding Activity-Based Costing, 5-7pm

SWEB030

79

109

Webcast

A&A

Sep 13

4

WEBCAST: Strategic Planning for SMEs: Small to Medium Enterprises: Moving From Ideas to Action, 11am-3pm

WEB717

129

159

Webcast

MG

ç Sep 13

2

WEBINAR iPad - Review of Top Apps for Business Professionals, 8-10am

WNR101

79

94

Webinar

TEC

ç Sep 13

2

WEBINAR iPad - Integrating iPads Into Your Accounting Practice, 11am-1pm

WNR102

79

94

Webinar

TEC

ç Sep 13

2

WEBINAR Take Your Writing to the Next Level: MS Word Can Make You A Better Writer, 7-9am

WNR103

79

94

Webinar

TEC

Sep 14

8

WEBCAST 2012 Compilation & Review Update, 7am-3pm

WEB096

195

245

Webcast

A&A

ç Sep 14

2

WEBINAR Excel - Printing and Formatting Your Spreadsheets, 10am-12pm

WNR104

79

94

Webinar

TEC

ç New |  non-tech credits | E Ethics credits |  Conference | Y Yellow Book | C CFP | l Chapter event |

34

WashingtonCPA September/October 2012

Networking Event | S Season Ticket and Coupons N/A

www.wscpa.org

Register at www.wscpa.org/CPE/catalog or page 37

Education and events Fees

Date

CPE Credits

#

Course

Type

Code

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

WSCPA NonAICPA Member Member Member Discount Fee Fee

Facility

Subject

Sep 14

2

WEBINAR Excel - How to Build a Spreadsheet for Beginners, 7-9am

WNR105

79

94

Webinar

TEC

ç Sep 14

2

WEBINAR Nonprofit Boards: Stepping Up to Today’s Challenges, 8-10am

WNR106

79

94

Webinar

GNP

Sep 17

4

WEBCAST-EVENING A-133 Audits - How I Can I Do it Better?

An Auditor’s Perspective for Auditors and Auditees, 3-7pm

SWEB008

129

159

Webcast

A&A

Sep 17

4

WEBCAST-EVENING A-133 Audits - What Do I Need to Know?

An Auditor’s Perspective for Auditors and Auditees, 3-7pm

SWEB009

129

159

Webcast

A&A

Sep 17

2

WEBINAR Excel - Analyze Your Data Using Pivot Tables, 7-9am

WNR107

79

94

Webinar

TEC

Sep 17

2

WEBINAR Excel - Tips for Eliminating Errors from Your Spreadsheets, 11am-1pm

WNR108

79

94

Webinar

TEC

Sep 17

2

WEBINAR Microsoft Office 2007/2010 - What’s New?, 10am-12pm

WNR109

79

94

Webinar

TEC

Sep 18

4

Y

WEBCAST-EVENING Yellow Book Audits - What You Need to Know, 3-7pm

SWEB010

129

159

Webcast

GNP

Y

Sep 18

4

Sep 18

2

Sep 19

8

Y

WEBCAST-EVENING Hud Audits – What You Need to Know, 3-7pm

SWEB011

129

159

Webcast

A&A

WEBINAR Adobe Acrobat for Accountants I - Basic Features & Functions, 8-10am

WNR110

79

94

Webinar

TEC

WEBCAST 2012 Governmental Accounting And Auditing Update, 7am-3pm

WEB098

195

245

Webcast

GNP

Sep 19

2

WEBINAR Investing in Real Estate: Legal Issues and Tax, 9-11am

WNR136

79

94

Webinar

SK

Sep 19

8

WEBCAST Opportunities and Methodologies for Running a Successful Litigation Services Practice, 8:30am-4:30pm

WEB097

255

295

Webcast

SK

ç Sep 19

2

WEBINAR Evolving Risk Landscape and Its Impact on the Audit Opinion, 8-10am

WNR111

89

104

Webinar

A&A

ç Sep 19

2

WEBINAR Internal Controls: So Much Time for So Little Benefit, 11am-1pm

WNR112

89

104

Webinar

A&A

Sep 19

2

Sep 20

4

Sep 20

8

Sep 20

WEBINAR Windows 7 - Tips & Techniques, 7-9am

WNR113

79

94

Webinar

TEC

WEB718

129

159

Webcast

PD

WEBCAST Business Succession Planning and Exit Strategies: Understanding and Planning for Business Ownership Change, 8:30am-4:30pm

WEB100

255

295

Webcast

SK

8

WEBCAST Common Interest Realty Associations Conference, 8:30am-4:30pm

WEB099

255

295

Webcast

SK

6 WEBCAST: Time Mastery For CPAs and Financial Professionals Part 2 Fighting the Alligatiors: How to Maximize Your Productivity, 2-6pm

Sep 20

2

WEBINAR Financial Accounting for LLCs and Partnerships - Part I, 8-10am

WNR114

79

94

Webinar

A&A

Sep 20

2

WEBINAR Financial Accounting for LLCs and Partnerships - Part 2, 11am-1pm

WNR115

79

94

Webinar

A&A

Sep 21

8

WEBCAST Motion Picture and Television Industry: Accounting & Auditing Overview, 8:30am-4:30pm

WEB102

255

295

Webcast

A&A

ç Sep 21

8

WEBCAST Corporate Finance Check-Up: Renovate Your Analytical Toolbox, 8:30am-4:30pm

WEB101

255

295

Webcast

MG

ç Sep 21

2

WEBINAR Excel - Spreadsheet Design Techniques You Must Know Part 1, 7-9am

WNR116

79

94

Webinar

TEC

ç Sep 21

2

WEBINAR Excel - Spreadsheet Design Techniques You Must Know Part 2, 10am-12pm

WNR117

79

94

Webinar

TEC

Sep 21

2

WEBINAR Creating the Best Projections You Can, 8-10am

WNR118

79

94

Webinar

MG

Sep 21

2

WEBINAR Effective Corporate Governance: Working with the Board and Audit Committee, 11am-1pm

WNR119

79

94

Webinar

MG

Sep 22

2

WEBCAST-SATURDAY Budget Basics - Myths of Budgeting and How to Overcome Them! (1 of 6 of the Budgeting Series), 9-11am

SWEB014

99

129

Webcast

MG

Sep 22

3

WEBCAST - SATURDAY: Budget Priorities - How Reality-Based Budgeting Really Works! (2 of 6 of the Budgeting Series), 11am-2pm

SWEB012

99

129

Webcast

MG

Sep 22

3

WEBCAST - SATUDAY Budget Accountability - How to Ensure Accountability Gets Embedded in Your Budget Process! (3 of 6 of the Budgeting Series), 11am-2pm

SWEB013

99

129

Webcast

MG

Sep 22

2

SWEB043

79

109

Webcast

MG

Sep 22

2

SWEB044

79

109

Webcast

A&A

6 WEBCAST: Effective Corporate Goverance: Working With The Board And Audit Committee, 7-9am WEBCAST:- SATURDAY - Creating The Best Projections You Can, 9-11am

ç New |  non-tech credits | E Ethics credits |  Conference | Y Yellow Book | C CFP | l Chapter event |

www.wscpa.org

Networking Event | S Season Ticket and Coupons N/A

WashingtonCPA September/October 2012

35

Register at www.wscpa.org/CPE/catalog or page 37

Education and events

Fees

Date

CPE Credits

#

Course

Type

Code

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

WSCPA NonAICPA Member Member Member Discount Fee Fee

Facility

Subject

Sep 22

2

WEBCAST: The Five Acquisition Questions: What They Are, Why They Matter and How To Answer Them, 11am-1pm

SWEB045

79

109

Webcast

MG

Sep 22

2

WEBCAST - SATURDAY: 2012 Internal Control In the Small To Medium Sized Audit, 1-3pm

SWEB046

79

109

Webcast

A&A

ç Sep 24

2

WEBINAR New Reporting Rules for Passive Activity Groupings, 8-10am

WNR120

79

94

Webinar

TAX

ç Sep 24

2

WEBINAR Repairs to Tangible Property - Capitalize or Expense?

11am-1pm

WNR121

79

94

Webinar

TAX

Sep 25

4

6 WEBCAST Getting on Top of It All: The New Science for Increasing Productivity in Yourself and Others, 11am-3pm

WEB722

129

159

Webcast

PD

Sep 25

8

Y

WEBCAST Fraud in the Governmental and Not-for-Profit Environments: What a Steal! 8:30am-4:30pm

WEB103

255

295

Webcast

GNP

ç Sep 25

2

WEBINAR S Corporations: Calculation of AAA, Basis Calculations and Loans, 8-10am

WNR122

79

94

Webinar

TAX

ç Sep 25

2

WEBINAR S Corporations: Election, Conversion, and the Built-in Gain Tax, 11am-1pm

WNR123

79

94

Webinar

TAX

Sep 26

2

WEBINAR Travel & Entertainment Expenses: Review & Update, 10am-12pm

WNR124

79

94

Webinar

TAX

Sep 27

2

WEBCAST SSAE 16 The New Standard for Service Organization Reporting, 9-11am

WEB104

79

109

Webcast

A&A

Sep 27

8

6 WEBCAST Shortcuts to Success: The 14 Best Tools for Personal and Professional Growth, 7am-3pm

WEB719

195

225

Webcast

PD

Sep 28

7

WEBCAST Free Cash Flow - The Key to Shareholder Value, 8am-3pm

WEB720

195

225

Webcast

SK

Sep 28

8

WEBCAST Introduction to XBRL and New Opportunities for CPAs, 8:30am-4:30pm

WEB105

255

295

Webcast

TEC

ç Sep 28

2

WEBINAR How Good Companies Become Great, 11am-1pm

WNR125

79

94

Webinar

MG

Oct 1

2

WEBINAR Accounting and Reporting to Management on a Lean Basis, 9-11am

WNR137

79

94

Webinar

MG

Oct 2

8

WEBCAST Revised Auditing Standards, 8:30am-4:30pm

WEB106

255

295

Webcast

A&A

Oct 3

4

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

WEB108

164

194

Webcast

Ethics

Oct 3

4

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

WEB109

129

159

Webcast

TAX

ç Oct 3

8

WEBCAST Improve the Effectiveness of Your Accounting and Finance Teams, 8:30am-4:30pm

WEB107

255

295

Webcast

MG

Oct 4

4

WEBCAST 2012 Banking Financial And Compliance Update Series Third Quarter Update, 8am-12pm

WEB110

129

159

Webcast

SK

E

Oct 5

8

WEBCAST Audits of 401(k) Plans, 8:30am-4:30pm

WEB111

255

295

Webcast

A&A

Oct 10

2

WEBINAR Preparing and Reporting on Cash and Tax Basis Financial Statements, 9-11am

WNR138

79

94

Webinar

A&A

Oct 17

2

WEBINAR Preparing and Reporting on Personal Financial Statements, 9-11am

WNR139

79

94

Webinar

A&A

Oct 17

8

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

WEB113

255

295

Webcast

TAX

Oct 17

8

WEBCAST Tax Aspects of Bankruptcy: All Need Not Be Lost, 8:30am4:30pm

WEB112

255

295

Webcast

TAX

Oct 18

8

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

WEB114

255

295

Webcast

TAX

Oct 19

8

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

WEB115

255

295

Webcast

A&A

Oct 19

8

WEBCAST Reformatted Financial Statements 2012 Updates and Conclusions, 8:30am-4:30pm

WEB116

255

295

Webcast

A&A

Oct 20

4

WEBCAST-SATURDAY A-133 Audits - How I Can I Do it Better?

An Auditor’s Perspective for Auditors and Auditees, 9am-1pm

SWEB016

129

159

Webcast

A&A

Oct 20

4

WEBCAST-SATURDAY A-133 Audits - What Do I Need to Know?

An Auditor’s Perspective for Auditors and Auditees, 9am-1pm

SWEB017

129

159

Webcast

A&A

Oct 20

2

WEBCAST-SATURDAY The Complete Guide to the Line by Line Preparation of Form 1041, 9-11am

SWEB029

99

129

Webcast

TAX

ç New |  non-tech credits | E Ethics credits |  Conference | Y Yellow Book | C CFP | l Chapter event |

36

WashingtonCPA September/October 2012

Networking Event | S Season Ticket and Coupons N/A

www.wscpa.org

Register at www.wscpa.org/CPE/catalog

Registration

Register online at www.wscpa.org/CPE/catalog or:

Questions? E-mail cpe@wscpa.org or call (425) 644-4800 or (800) 272-8273 (toll-free in Washington).

Code

Title

Date

City

Fee1

2

3

Security code _______

2

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

WashingtonCPA September/October 2012

37

classified ads

Detailed advertising information is available online at www.wscpa.org. Ads are $1 per word with a minimum fee of $50. Active e-mail and web site addresses are included. Classified Ads are placed on the website for 60 days when received and in the next magazine when received by the deadline (September 25 for the November/December issue).

Positions available ads are for magazine placement only. To post a job listing, visit the Career Center at www.wscpa.org. Contact Sharon Olene-Marander at (425) 586-1138, (800) 272-8273, Ext. 1138, or classifieds@wscpa.org for more information. All ads must be pre-paid. Find classified ads at www. wscpa.org under Newsroom.

POSITIONS AVAILABLE

Established Bellingham CPA firm is seeking a tax manager to join our team of professionals.

5+ years of tax experience required. Collaborative working environment, excellent advancement opportunities and salary and benefits package.Submit resume and cover letter toVSH,CPA’s,2200 Rimland Drive, Suite 205, Bellingham,WA 98226,Attn: H/R PRODUCTS AND SERVICES

Affordable Lawyers.Advocates Law Group LLC is a 13 lawyer state wide law firm offering a wide range of legal services at reasonable prices. Our business model, with low overhead, lets us provide experienced lawyers who strive to find practical ways to resolve your client’s legal problems.Visit our website at: http://www.advocateslg.com/ or contact George Tamblyn at (206) 236-2769. gtamblyn@ advocateslg.com SITUATIONS WANTED

Seeking Professional Partners. Since 1994, our independent wealth management practice has been dedicated to helping clients plan for their financial independence. One of the ways we’ve grown is by affiliating with likeminded accounting professionals through our firm’s Professional Partners Program.

The program allows CPAs to share in advisory fees after meeting minimal licensing requirements.We are seeking CPAs in the Seattle/Bellevue (Eastside) area to join us as revenue sharing partners.To receive a brochure, please contact Steve Wormeli at (425) 990-3030 or send an email to steve.wormeli@ raymondjames.com.Website: www.raymondjames. com/bellevue.

MERGERS & SALES

Everett CPA Firm. Are you considering selling your CPA practice? Are you wanting to retire and pursue other interests? We are an established Everett area CPA firm looking to purchase a firm with revenue of 100,000 to 300,000. Please email charlottem@mariscpa.com or call Charlotte Maris at (425) 338-0414 and see our website to learn about us. www.mariscpa.com Tax and Accounting Business for Sale. Well established business for 30+ years onWhidbey Island, Ten years under current ownership. Business base is approx. 33% commercial tax and bookkeeping, 67% Federal taxes. Gross sales of approx. $200,000.

38

Business has an established reputation for quality and customer service, good growth potential, and a qualified and experienced 3 person staff. Sale includes 1482 Sq Ft in an attractive Office Condo with prime location. This is a turnkey operation.

Owner wishes to retire, and will consider financing with proper guarantees. Owner will assist with transition.ContactTimothyAustin at (425) 450-3300 or TAustin@NWTAXLAW.COM. Seattle CPA interested in purchasing Seattle tax practice. I am particularly interested in serving the tax planning and preparation needs of high net worth clients in the Seattle Metro area. Have provided these services to such clients over the past few tax seasons. Please contact Gary at gjeweler@ jewelerandassociates.com.

Everett/Bellevue Firm Looking for King and Snohomish County CPA firm and/or Registered InvestmentAdvisory Company to purchase. We are the second largest CPA firm in downtown Everett, manage $135m and are looking to purchase another firm. Our client base is as broad as the services we offer, as we cater to individuals and small business.

Please contact the owner, Brian Evans at (425) 2526909 or email to brian@bauerevans.com. You can review our websites at www.bauerevans.com and www.bondstreetwealth.com.

PRACTICES FOR SALE Contact Mark Hause atAccounting Practice Sales by e-mail at MARKHAUSE@CONTACTAPS. COM or call (877) 345-7722 for more information on the following practices: Grays Harbor CountyArea EnrolledAgent Practice for Sale: This enrolled agent practice is primed for growth with a good mix of income tax and write-up professional services. The firm has excellent visibility due to being located on a high traffic count street and has been in the area for a number of years. In addition,the Seller offers the ability to retain the existing location which will make the transition of clients easy. This firm is a great opportunity for any number of buyers from a business minded accountant, to a firm looking to grow a book of business or offer an up an coming young associate ownership.

Spokane CPA Firm for Sale: This well rounded CPA firm renders professional services in the areas of write-up, income tax, compilation(s), review(s), and auditing. The firm has long term relationships with most of the clients while continuing to accept new business which fuels the continuing growth of the practice. The practice has a variety of clients in all industries but does serve a number of non-profit entities in a variety of capacities.The owner seeks to retire but would be available for transition to the new owner through tax season. This practice is primed for a new owner and continued prosperity.

WashingtonCPA September/October 2012

Considering SellingYour 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!

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.

Snohomish County CPA looking to purchase a small, accounting/tax practice in S. Snohomish / N. King Co. area. $75,000 - $150,000.Willing to work with seller on a desired transition plan.Please respond by e-mail to lbscpa@yahoo.com.

MISCELLANEOUS

Wanted - Bass and Drummer for Blues - Rock Band. Bass player and drummer wanted for South End Blues-Rock band. Should know the standards (not SSARS - ha ha). Joe@AuburnSoftware.com 253-332-5250.

VOLUNTEER POSITIONS

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 (enter volunteer positions in the search box).

Bellevue Police Foundation Communities in Schools of Puyallup Congress for the New Urbanism-Cascadia Coyote Central 20179 Fremont Community Therapy Project Ginger’s Pet Rescue - New Greybeard Community Center - New Headstrong - Support for TBI Youth Helping Link Interlake Childcare and Learning Center - New John Wayne Pioneer Wagon & Riders 20205 Millionair Club Charity The Mockingbird Society Northwest Girls Coalition - New Open Arms Perinatal Services Out of the Woods Inc Pet Savers - New Relief and Education for Afghan Children Step It Up Camp - New The Seattle Piano Institute - New Thurston Co Volunteer Legal Services Transitional Resources Vision Loss Connections Washington Autism Alliance & Advocacy Washington Poison Center Washington Wildlife and Recreation Coalition - New

www.wscpa.org

Member profile

Taking a Leap of Faith Michael Plengrat Tell us a little about yourself.

I was born in Bangkok, Thailand into an orphanage. When I was seven years old, a Hawaiian-Chinese-Japanese-American family from Hawaii adopted me.

Unfortunately, after a number of years, I was eventually placed into a series of foster homes, youth shelters, and courtappointed families. This continued until I graduated from high school in Hawaii.

I began my post-secondary education at a University of Hawaii System Community College, Windward Community College, where I earned an Associates of Arts in Liberal Arts. Thereafter, I attended the University of Hawaii at Manoa. Because much of my education was funded by a number of student loans and grants, I eventually ran short of funding as education costs increased and the availability of student loans dwindled. Consequently, I dropped out of school, and moved to the streets (I couldn’t find suitable employment and I was using scholarships, grants, and loans to help me get by).

In 2006, when I decided I had enough of being on the streets, I was able to purchase a ticket to Seattle. It was literally a leap of faith moving to Seattle with nothing more than a backpack and a few hundred dollars in my pocket, in an attempt to try to alter my future for the better.

In Seattle, I quickly found a restaurant job, where I remained for nearly four years and eventually became an hourly manager. It was through this job that I was able to afford attending North Seattle Community College, where I earned an Associates of Business Degree. At North Seattle, I tutored accounting students during breaks, and on days that I did not have classes, I worked a second restaurant job in the early mornings. At one point, I held down three jobs while enrolled full-time at North Seattle!

In 2008, I was accepted to the Michael G. Foster School of Business at the University of Washington, where I earned www.wscpa.org

a Bachelor of Arts in Business Administration with an option in Accounting in 2010. In 2011, I earned a Master of Professional Accounting in Taxation.

Tell us about your current position.

Currently, I am an Associate with Ernst & Young, LLP’s Business Tax Advisory Practice. I am part of Ernst & Young’s Diversified Staff Group, which means I receive broad exposure to federal and state issues, including compliance, advisory, income tax provisions, and numerous other special projects like quantitative services.

What led you to choose public accounting?

I was drawn to public accountancy because of the exciting, diverse, and challenging opportunities it provides. I have been with Ernst & Young, LLP just over one year and have loved the experience.

What do you like to do in your free time?

My favorite hobby is reading, learning, and tasting wines and spirits from all over the world. It’s fascinating to learn a little history, geography, and of the Terroirs of some of the greatest wine regions of the world (i.e., Bordeaux, Burgundy, Alsace, Mosel, Napa, etc.). You literally travel the world and experience others’ craft and get to share in a bit of their history and culture with every sip of wine! I have a basic wine certification from the Court of Master Sommeliers.

I also enjoy cooking, which comes in handy for making appropriate food and wine pairings. As you might imagine, I am frequently called upon to assist when my friends want to throw a cocktail party.

Who is your personal hero?

Chris Gardner, made famous in the movie, The Pursuit of Happiness, is

my personal hero. His story of finding success after being homeless reminds me of my personal struggle to become who I am today. None of my triumphs could have been possible, however, without the support of friends, God, and, even strangers — many of whom became friends along the way.

More recently, I’ve acknowledged the WSCPA and the generous donors of the Washington CPA Foundation for its tremendous support through scholarships. In many ways, had the WSCPA not held special networking events like those at Emerald Downs, Jillian’s, and Happy Hours at Daniel’s Broiler, I would not have met the many talented CPAs and professionals who encouraged me to enter the CPA profession. I even remember attending a WSCPA etiquette class taught by Kimberly Scott. In that class I learned much of the etiquette I use in today’s professional environment.

This is an example of the lasting impression the WSCPA can have on those who get involved.

WashingtonCPA September/October 2012

39

Periodicals postage paid at Bellevue WA and additional mailing offices

Your Profession. Your Future. Your Advocate.

Photo Album

2012 Golf Tournament (From left to right:) Jim Ardissono, Bob Bowman, David Lee, and John Schmidt

(From left to right:) Justin Hoffman David Minikin Marty Brown Craig Looper