WashingtonCPA 2016 Winter

Winter 2016 Volume 59, Number 3

washington

CPA

www.wscpa.org

Rick Sweeney, A Difference MakerTest Your Cyber IQ‘More’ vs. ‘More Effective’ Communication

Bitcoin and Virtual Currencies What CPAs Need to Know Heading into Tax Season

2 3WashingtonCPA Winter 2016 www.wscpa.org www.wscpa.org WashingtonCPA Winter 2016


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

Laurie J. Anderson Kristine L. Lambright Ryan T. Bartlett Lucy L. Liu Justin A. Bourn Amanda V. O’Rourke Thomas G. Donaghy Michael Reeves Robert W. Heller Abby M. Sanders

CHAPTER BOARD CHAIRS Erika Hosea Bellevue Area

Lydia Ahn Bellingham Area Dana Lashbaugh Everett Area Diane Bingaman Olympia Area Joe O’Meara Seattle Area Fred Peck Spokane Area Dani Espinda Tacoma Area Alexander King Tri-Cities Area Molly VanderWoude Tri-Cities Area David Stubing Vancouver Area

Sean Kinney Yakima Area

Jeanette Kebede Editor

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

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DEPARTMENTS

CPAwa s h i n g t o n

4 Leadership Lens12 News Briefs17 Advocacy27 Foundation30 Chapters

33 CPE Digest38 Conferences45 Registration Form46 ClassifiedAds47 MemberProfile

Contents

4 Rick Sweeney, A Difference Maker

6 Professional Issues: Changes on the Horizon

8 Bitcoin and Virtual Currency: What CPAs Need to Know Heading into Tax Season

12 New WSCPA Member Benefit: Send Secure Emails to Your Clients and Save with NeoCertified

17 Together We Stand

18 Test Your Cyber IQ

21 Creating Stand-Alone PivotCharts in Excel

23 ‘More’ vs. ‘More Effective’ Communication


LEADERSHIP LENS

Rick Sweeney, A Difference MakerBy Rich Jones, CPA, CGMA, President & CEO

Rick Sweeney and I both began our current jobs within two weeks of each other in June 2005; Rick as

Executive Director (ED) of the Washing-ton State Board of Accountancy (WBOA) and me as President & CEO of the Wash-ington Society of CPAs (WSCPA). Rick had a big advantage over me since, having taught Washington Ethics for the WSCPA for many years, he was an expert on the laws and rules for practicing as a CPA in Washington State. As for me, I had a lot to learn since my professional experience was as a tax practitioner in a large firm.

We first met at the National Asso-ciation of State Boards of Accountancy’s (NASBA) annual meeting in Anchor-age in June 2005. At that time, relations between the WBOA and WSCPA were very strained. WBOA staff was taking a very hard line on enforcement when CPAs were late in renewing their licenses, failed to timely notify the state board of a change of address, or continued to use CPA on their email signatures or business cards once their licenses had technically lapsed. For example, when I assumed my responsibilities as CEO, we had 11 members who had to engage attorneys to protect their licenses for very brief

lapses caused by late renewal, even when the CPAs had informed the board of the violation and when the lapse was for a very short period.

At the NASBA conference Rick and I committed to set things right between our two organizations and to create a model relationship between the regula-tors and the regulated. We agreed that we would disagree on some matters, but pledged to never be disagreeable in doing so. I am proud to report that we have not broken that pledge.

One of Rick’s first initiatives was to work with the members of the state board to identify those violations that were administrative in nature and then get a delegation of authority so that he could resolve those cases in accordance with guidelines approved by

Rick Sweeney Retirement ReceptionFriday, January 22 - 4:30-6:30 pmWSCPA Office, Bellevue

Join us in honoring Rick Sweeney as he retires from his post as Executive Director of the Washington State Board of Accountancy.

Register at www.wscpa.org | Code 16NWRSESpace is limited. Registration required.

the board. This has worked extremely well in allowing the agency to be more efficient and to reduce the backlog of administrative cases.

Rick and I realized early on that the composition of our state board did not align very well with the statutory require-ments for the board. The board’s most significant responsibility is to discipline CPAs who have failed to follow profes-sional standards when performing attest, compilation, or attestation engagements. After all, these are the only services that require a CPA license. Together, we worked with Governor Gregoire’s office to rebuild the board over a number of years to better match their experience with their responsibilities under the stat-ute. The ability for the profession and the regulator to jointly and successfully recommend appointments to the WBOA is often referred to by NASBA as a best practice arrangement.

When legislators and regulators across the country were considering individual mobility legislation (2006-2014), Rick’s team and our team worked

continued on page 26

All CPAs in Washington owe

Rick Sweeney a great debt of

gratitude. Our profession is

better because of him.


Return to your alma mater and inspire accounting students to become CPAs

• Participate on CPA panels• Speak in accounting classrooms• Hand out awards at scholarship banquets• Help students with mock interviews• Represent the WSCPA at career fairs

BECOME A STUDENT OUTREACH VOLUNTEER Contact Monette Anderson, Academic Relations [email protected] | (425) 586-1118

Central Washington UniversityEastern Washington UniversityGonzaga UniversityPacific Lutheran UniversitySeattle Pacific UniversitySeattle UniversityUniversity of WashingtonUniversity of Washington-TacomaUniversity of Washington-BothellWashington State UniversityWestern Washington University

Head back to campus


LEADERSHIP LENS

Professional Issues: Changes on the Horizon By William A. Simer, CPA, WSCPA Chair for 2015-2016

During the past several weeks members of the WSCPA Board of Directors and professional

staff have visited the Society’s chapters throughout the state to present profes-sional issues updates. It has been great to renew old friendships, and make new ones, with colleagues that we’ve met and to see the chapters’ work in action. If you haven’t been able to attend an update in your chapter area, here are some highlights.

ScholarshipsWork is underway to spread the word

about $200,000 in scholarships available for the coming school year, thanks to the ground breaking development of a schol-arship fund that will be administered by the Washington CPA Foundation. The funds were provided from the Washing-ton State Legislature from the reserves of the Washington State Board of Accoun-tancy. Washington State is the only state society which has been successful in put-ting together this partnership between state government and our profession. You can be proud of this accomplishment that will provide scholarship support to qualified accounting students for up to two decades.

Audit QualityInvestors and decision makers con-

tinue to hold our profession in high regard, but we’re going to have to address audit quality issues in order to retain our right to self-regulate our profession. The AICPA continues to focus on strategies to enhance audit quality, and to develop tools to make the peer review process more effective and even to provide real time practice monitoring. These changes aren’t always going to be popular, but we have a responsibility to address these

While we continue to see growth in our traditional service

areas, the most significant growth is in non-traditional services:

IT consulting, valuing complex financial instruments and busi-

ness intangibles, cost segregation studies, financial planning.

issues or we’ll see an erosion of the public trust and even control of our profession.

Growth in Non-traditional ServicesChange continues to be a common

theme in our professional issues updates as the profession continues to see strong performance from traditional tax and attest services, although the most sub-stantial growth is coming from non-tra-ditional services. A speaker at my firm’s recent annual partner meeting noted that many believe that we’re in a period of change not unlike the Industrial Revolu-tion. Even if that’s not the case, it’s impos-sible to deny that we are in a significant transitional period and that transition will have an impact on the way we practice and the types of services we offer to our clients. While we continue to see growth in our traditional service areas, the most significant growth is in non-traditional services. IT consulting quickly comes to mind but the growth in non-traditional services extends far beyond into special-ized areas such as valuing complex financial instruments and business intangibles, cost segregation studies, and financial planning, to name a few. The professionals who deliver these services won’t necessarily be CPAs. The profession has contin-ued to address this by creating special-ized credentials to bring these areas under the AICPA’s Code of Professional Conduct through extending associate

membership in the AICPA to individuals providing these services.

Percentage of Members in Industry or Government

One of the other significant transi-tions we’re seeing is the growth in the number of our members who are work-ing in industry or government. Over 25% of WSCPA members work in industry and government and at the AICPA level the percentage is even greater. Given the large numbers of our colleagues who work in these areas, the profession needs to address the skills and training that will be meaningful to this group and help them advance in their careers. The CGMA designation is clearly directed at this need and the recently approved expansion to offer the CGMA desig-nation to non-CPAs in the US is also an effort by the profession to address this need.

It’s beyond the scope of this column to cover all of the professional issues, includ-ing generational transition, succession planning, and growth in global business, but these issues will continue to have sig-nificant impact on how we practice. We’re beginning to hear the term “CPA-led firm” in the place of CPA firm—another indication of how the profession is chang-ing. If we focus our intellect and creativity on these challenges, we’ll be successful in managing this transition.

William Simer, CPA, is Partner with Eide Bailly LLP in Spokane. Contact him at [email protected].

For a list of upcoming chapter events, check out the chapter calendar on page 30 or visit www.wscpa.org/cpe/catalog.



DIGITAL CURRENCIES

Instead, transactions and balances are verified by consensus, meaning that the network at large is the intermediary between sender and recipient.

Bitcoins are created by a complex com-putational process known as “mining.” Once created, they are held in crypto-graphically-protected accounts known as “wallets.” A single bitcoin (or fraction thereof) is prevented from appearing in multiple wallets by the confirmation pro-cess carried out by individual nodes on

the network. In short, only when a user has a valid key for an existing wallet with a sufficient balance can that user send some or all of the bitcoins held in that wallet to another address. Every node on the network carries a complete copy not only of the current status of all accounts on the network, but also of the complete history of every account, ensuring that no bitcoin can be spent twice. This set of transaction records is known as the “blockchain.” It is this distributed ledger technology that has attracted the interest

The market value of the

virtual currency received

on the date of receipt is

typically used to calculate

income and basis.

With tax season rapidly approach-ing, many practitioners are likely to encounter clients for the first

time with virtual currency activity to report. Bitcoin, the best known virtual currency, peaked in value in early 2014 before all but disappearing from public view shortly thereafter. Nearly two years later, virtual currencies are still out there: an impressive run in the fall of 2015 (pos-sibly due to an alleged Chinese pump and dump scheme) attracted fresh attention and new converts. While industry and venture capitalist focus currently appears to be shifting from bitcoin as a currency to Bitcoin as a technology, virtual curren-cies are likely to be an enduring (if niche) asset class.

What is Bitcoin?If you’ve somehow missed out on the

virtual currency revolution, you probably aren’t alone. A Business Insider poll1 at the height of bitcoin’s popularity in March of 2014 revealed that only 55% of Ameri-cans and Europeans had heard of it. Most of the publicity was bad—thefts, hacks, Ponzi schemes, and frauds kept bitcoin and other lesser-known virtual curren-cies in the news on an almost continu-ous basis during late 2013 and early 2014. Though easily dismissed as a tool of crim-inals, virtual currencies offer a few com-pelling use cases that, while not driving mass adoption, are at least keeping them from disappearing altogether.

Bitcoin is a trustless, decentralized means of exchange and store of wealth. It is decentralized because its network consists of thousands of individual nodes running open source software on privately-owned computers. It is trust-less because it does not rely on a single intermediary to guarantee transactions conducted over its network in the same way as conventional payment methods.

of large banks in the United States and elsewhere.

Tax Treatment of Bitcoin and Other Virtual Currencies

In the spring of 2014, the IRS released guidance to the public (Notice 2014-21) that explicitly classified virtual currencies as property, removing much of the uncer-tainty surrounding appropriate handling of tax filings. Notice 2014-21 includes the caveat: “General tax principles applicable to property transactions apply to trans-actions using virtual currency.” Classifica-tion as property, or more accurately as something other than a currency, means that virtual currencies are subject to tax treatment in the United States that is similar to other asset types under simi-lar circumstances.

Virtual currencies offer a wider range of use cases than ordinary cash. Thus, tax treatment varies based on the context of their acquisition and use. The normal property classification rules under Sec-tion 1221 apply to virtual currencies. Clients may classify holdings either as capital or non-capital assets depending on the nature of the client’s activities. For example, bitcoins in the hands of a casual investor might be a capital asset, whereas a money service business that holds bitcoin for resale to others might view bitcoins as inventory (explicitly excepted from the definition of a capital asset under Section 1221).

Virtual Currency MiningMining is the computational process

by which bitcoins are created. Many vir-tual currencies use variants of Bitcoin’s mining algorithm to regulate the rate at which they can be created and/or spent.

The doctrine of constructive receipt suggests that virtual currency miners

Bitcoin and Virtual Currency: What CPAs Need to Know Heading into Tax SeasonBy Jason M. Tyra, CPA, MBA, CFE

1Source: http://www.businessinsider.com/bitcoin-awareness-survey-2014-3


DIGITAL CURRENCIES

generally realize ordinary income when mining activity results in the receipt of virtual currency. Income is not deferred until mining receipts are converted or sold, but must be declared in the tax year the coins are actually created.

The market value of the virtual cur-rency received on the date of receipt is typically used to calculate income and basis. At the time of publication of this article, there are a variety of reliable sources of pricing information for virtual currencies, most of which would likely be considered acceptable in this context.

Some clients may participate in pools that combine computing power for more consistent payouts to their members. If a taxpayer participates in a mining pool, then he or she may be required to use

the date that the virtual currency was mined by the pool, rather than the date received by the miner (there may be a time lag between these two events), depending on the tax structure of the pool and its operating rules.

Many bitcoin enthusiasts operate mining hardware with little expectation of turning a profit. Miners may be consid-ered either hobbyists or business owners depending on the scope of their activities. Material participation and active partici-pation rules apply here, as do the hobby loss rules.

Virtual Currency TradingVirtual currencies are usually con-

sidered capital assets in the hands of individuals, subject to most of the same rules and tax treatment as more common

capital assets, such as securities. Most rules applicable to securities trading are also thought to be applicable to virtual currency trading. The notable exception here is wash sale rules. Since virtual cur-rencies are not, by definition, securities, IRS wash sale rules do not apply to vir-tual currency transactions. This means that some clients may be able to take advantage of unrealized losses in virtual currency holdings at year’s end to offset gains in other areas without having to materially change the composition of their portfolios.

A word of caution to practitioners considering whether to take on virtual currencies: virtual currency exchanges and trading platforms are not currently required to report basis or trade infor-mation to US taxpayers or to the IRS on

© iStock by Getty Images / Tsokur


DIGITAL CURRENCIES

Form 1099-B. This means that it is incum-bent upon individual taxpayers to main-tain adequate, consistent records for tax reporting purposes. My experience in this area has shown that many fail to do so.

Purchases and Sales Using Virtual Currencies

The ability to seamlessly employ vir-tual currencies to pay for everyday pur-chases (the proverbial “cup of coffee”) is the holy grail of the virtual currency movement. Unfortunately, current IRS rules make daily transaction tracking a difficult and time consuming affair for cli-ents who hold bitcoins as a capital asset.

Under IRS barter exchange rules, when a virtual currency is used to make a purchase, the event is treated the same as a disposal due to sale, triggering recogni-tion of (usually capital) gain or loss.

Businesses that accept virtual cur-rencies in settlement of sales recognize ordinary income equal to the US dollar value of the sale. Also, clients should be aware that receipts denominated in vir-tual currencies do not cancel out local sales, use or excise tax rules or otherwise relieve merchants of the responsibility to accurately record and report revenue in any way.

Many virtual currency trading plat-forms offer the option of immediate settlement to US dollars or another currency. If virtual currencies are not immediately disposed of, then they are ultimately taxable in two ways—ordinary income on receipt to establish basis and capital gain or loss at time of disposal. This means that practitioners who handle businesses using virtual currencies to pay vendors or employee salaries will face additional record keeping requirements beyond merely booking the expenses.

Gifts and Donations of Virtual Currencies

Gifts are a major part of the virtual

currency community. It is not uncommon to see a digital “tip jar” at the bottom of a blog post or other piece of original con-tent or to find enthusiasts seeking gifts of virtual currencies to fund projects that are of interest to the general community. Virtual currencies make it possible to send payments as small as a fraction of a cent without the expense of credit card interchange fees.

Gifts of virtual currencies are subject to IRS Gift Tax rules in the United States in the same manner as other forms of personal property. Gifts of virtual curren-cies are not exempt from reporting and count toward annual and lifetime exempt gift limits for US taxpayers.

Charitable donations of virtual cur-rencies are subject to IRS rules govern-ing donated non-cash property, including deductibility limits and value substantia-tion requirements. Donors should care-fully maintain records of the date and amount of all charitable donations and be sure to obtain a receipt or other acknowledgement from the recipient of the donation. Due to the ready availability of pricing information online, an appraisal of donated virtual currencies would usu-ally not be required.

Use caution: donation-seeking for open source software and other community-oriented projects is very common among virtual currency users.

Clients may donate funds to non-exempt or otherwise ineligible entities without realizing that they have done so. Dona-tions to non-qualifying entities would be considered non-deductible gifts under IRS tax rules.

These are the most common federal tax situations likely to be encountered by practitioners with clients who are casual users of or investors in virtual currencies. Be sure to check if your state has issued additional guidance on income, sales or other types of taxes and virtual currencies.

Jason M. Tyra, CPA, MBA, CFE, is princi-pal of Jason M. Tyra, CPA, PLLC, in Killeen, Texas. A CPA licensed to practice in Texas, Jason provides tax and consulting ser-vices to the Bitcoin

user community, including some of the lead-ing figures and companies in Bitcoin. Contact him at [email protected].

Virtual currencies

make it possible to send

payments as small as a

fraction of a cent without

the expense of credit

card interchange fees.


Tax Goddess Gina, CPA

A&A Andy, CPA

Construction Ken, CPA

Nonprofit Nicole, CPA

Superhero CFO Stan, CPA

Are you A&A Andy? Tax Goddess Gina? Nonprofit Nicole?

Are you a tax gal or an audit guy? A nonprofit specialist or a health care

accounting expert? We recognize that you’re busy and want to send you

the information that’s of interest to you.

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


NEWS BRIEFS

Find a CPA Referral Service

Drive Business to Your CPA Firm with Referrals

According to The New York Times, 65% of new business comes from referrals. Yelp, Angie’s List and apps demonstrate how word of mouth guides our decisions on a daily basis. As the only organization in Washington dedicated to serving the profession, people turn to the WSCPA to find the best of the CPAs. If you are look-ing for ways to attract new clients, the WSCPA Find a CPA referral service can help you expand your client base.

The referral service is easy to sign up for and easy to use. For just $175, your listing will be displayed for a full year. With just one click on the “Find A CPA” button, potential clients have easy access to all the information they need to find you and can search by key terms, services offered, area of expertise and location.

Sign up now! wscpa.org > Find a CPA

Enroll now at www.wscpa.org > Find a CPA. If you have questions call (425) 586-1142 or toll-free in Washington at (800) 272-8273, ext. 1142 or email [email protected].

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Tax Handbook, and more.Order the U.S. Master

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The U.S. Master Tax Guide (2016) provides helpful and practical guidance on today’s federal tax law for individu-als, corporations, partnerships, estates and trusts. This 99th

Edition reflects all pertinent federal taxation changes that affect 2015 returns and provides fast and reliable answers to tax questions affecting individuals and business income tax.

Save up to 40% on other CCH top tax and accounting titles. To view current book specials and order, visit www.cchgroup.com/members/wscpa and apply the discount code Y5596 to your order at checkout.

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Reduced rates are available for all WSCPA members, and for a limited time, you will receive our newest product CustomerConnect (a secure contact form) for free, which can be placed on your website. This will allow your clients to send you their sensi-tive documents, including tax forms, straight from your website.

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NEWS BRIEFS

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

Connect with fellow members and participate in discussions at

www.wscpa.org/linkedin

Like the WSCPA on FacebookWashingtonCPAs

Follow the WSCPA on Twitter@wscpa

Twitter FacebookLinkedIn

Accounting Software for Lenders

Need for Digital Alternative for General Purpose Financial Report

ASC 605-45-45-22 Expense Reimburse-ments: Have you seen this treatment?

WA State Taxation of Meals Served to Residents of Senior Living Facilities

North Seattle College Technical Advi-sory Committee Seeks Members

What’s your CPA superpower?

WSCPA Blog Search is on for New Executive Director of Washington State Board of Accountancy

Diminish Your Client’s Pricing Objections!

The Most Difficult Section of the CPA Exam is...

Is Your Potential Employer a Good Cultural Fit?

Tax Briefing: ACA Small Business & Tax Compliance

Rewarding and Challenging Careers in a Small Firm

Read WSCPA News & Resources at www.wscpa.org/news

Article submissions welcome. Contact [email protected].

College Student Outreach: Call for Volunteers

Are you interested in helping spread the word about Washington CPA Foundation Scholarships? Would you like to inspire accounting students to become CPAs? Do you enjoy work-ing with students and want to get back on campus at your alma mater?

For information about volunteer oppor-tunities to speak in accounting classes, join professional panel discussions or participate in other student outreach activities email Monette Anderson, the WSCPA Academic Relations Coordina-tor, at [email protected].

The WSCPA holds in memory with families and the larger com-munity, these members who have recently passed on:

MaryAnn BaileyNathan FudgeWalter GomerRobert Kreitler

Dale Mainswww.wscpa.org/community/

in-memoriam

In Memoriam

© iS

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by

Get

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ages

/ Sk

ynes

her


NEWS BRIEFS

Do you know me?

I am your fellow WSCPA committee member who ensures that everything is running smoothly at an event. Or maybe I’m a new CPA in your office and I’m making an effort to get involved in the WSCPA. Or perhaps I am an individual who has used my position as a CPA to provide leadership through-out the community.

Nominated by a colleague and selected by a committee of my peers, I am proud to have been selected as a WSCPA Award Winner.

Rick Greaves, Robert Ash, Carmen Aguiar, Brett Jordan, Mike Cheney, Sarah Ozanne, Nerelys Codero, Mary Joyce, Rick Sweeney, Rick Anderson, Pete Shimer, Peter Miller, Dave Trujillo, Joe Sambataro, Robert Nuber and Jim Ladd are but a few of the many WSCPA members that have won a WSCPA award.

Whom will you nominate?

John L. O’Brien Lifetime Achievement AwardRecognizes a current or former member for a career of leadership and dedicated service to the accounting profession and as an exemplary role model for other CPAs.

Vincent A. Gervais Public Service AwardRecognizes a member whose respected leadership in community organizations has enhanced the image or public perception of CPAs.

Company or Firm of the Year AwardRecognizes a company or firm that provides noteworthy support to the WSCPA and its members.

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

Outstanding Volunteer Leader AwardRecognizes an active member for outstanding service and dedication and/or innovative and inspirational WSCPA leadership.

New Professional AwardRecognizes an active member who has been a CPA for fewer than 10 years for outstanding WSCPA leadership.

Rising Star AwardRecognizes a member who is in the process of obtaining a CPA License for active WSCPA leadership, dedica-tion, and service.

WSCPA AWARDSSubmit your nomination now!www.wscpa.org/community/awards/nomination-form


NEWS BRIEFS

Scholarships Now Available

Are you interested in pursu-ing the CGMA designation? The WSCPA can now award a limited number of CGMA scholarships for the upcoming fiscal year. Scholar-ships include:

• Complimentary access to the CGMA Program, includ-ing multiple learning and exam-prep resources

• Gratis exam fees for the February or May exams

• Designation fee once the exam has been passed

• This all adds up to an esti-mated value of just over $2,000 per scholarship

If you are interested please contact Jeanette Kebede at [email protected].

Free Monthly PCPS ResourceIn partnership with the AICPA

Private Companies Practice Sec-tion (PCPS), the WSCPA offers a free rotating tool available every month at www.wscpa.org/pcpsresources.xPast tools included: Overcoming Pricing Objections Tool (November), and a Firm inMotion Transition Continuum and Checklist (December). Watch the Short Form e-Newsletter for a link to the latest tool or visit the website.

Not-for-Profit Committee

ThexWSCPAxNot-for-Prof i t Committee is a vibrant network of private and public accounting pro-fessionals that shares knowledge and takes a leadership role on issues impacting the industry. The commit-tee holds meetings generally on the last Wednesday of the month. The meetings consist of one hour of CPE and a lively discussion on topics affecting the not-for-profit commu-nity and can be attended in person or remotely. We would like to invite you to join the committee and become

involved in this very active and crucial committee. To join, please contact Hayden Williams at [email protected] or (425) 586-1110.

Upcoming Meetings

Jan 27 Feb 24Mar 30 May 25

12:00-2:00 pm Bellevue (or attend remotely)

COMMITTEE SPOTLIGHT

The WSCPA Not-for-Profit Commit-tee plans the annual Not-For-Profit Conference, which was held Novem-ber 12-13 at Bell Harbor Interna-tional Conference Center in Seattle. More than 260 people attended in person and nearly 30 people viewed the webcast.



ADVOCACY

Thank you to

members of

the CPAPAC

Committee.

If you have attended a chapter event recently, you may have attended a pro-fessional issues update. The updates

try to address in an hour or two the many issues affecting the CPA profession locally, nationally and globally. Trends in the talent pool for the profession, in the composition of firms and, of course, reg-ulation at all levels are discussed during these sessions.

Foundation Scholarships and Rick Sweeney’s Retirement

If you’ve read the CEO and Chair Columns in this issue, you’re aware of some key topics from the updates. In the Chair’s column, Bill mentions the legisla-tion passed in 2015 which will allow the Washington CPA Foundation to provide more than $3 million in scholarships over the next 20 years. He also mentions the growth and changes in the accounting profession. In the CEO’s column Rich discusses a key change in our state, Rick Sweeney’s retirement as Executive Direc-tor of the Washington State Board of Accountancy.

Upcoming Legislation: Firm Mobility, Definition of Attest

Another key issue is upcoming legisla-tion in Washington State. The WSCPA is interested in making a couple changes to the Washington State Public Accountancy Act (the Act).

The first change is allowing firm mobil-ity. This is similar to the individual mobil-ity that you now have as a licensed CPA. Your individual CPA license now allows you to work in other states on a tempo-rary basis without having to apply for a license in that state. However, firms still need to register and pay a fee when doing any attest or audit work in a state where they are not physically located.“Firm mobility” would allow a firm to conduct business in a state without filling out the

Together We StandBy Kimberly Scott, CAE

paperwork and paying a fee in advance. Of course a firm would be accountable to follow the rules and regulations in the state they are entering and would be sub-ject to discipline from both the state they reside in and the state in which they have completed work.

The other change affects the definition of attest. Across the nation, people in professions other than the CPA profes-sion have been using AICPA standards to create reports, specifically around sustain-ability. There is concern about the public relying on reports that look as if they have been created by a CPA, but in reality they have not. This became an issue when SAS 70 was reclassified and became SSAE 16. In all but 14 states, Statements on Stan-dards for Attestation Engagements, other than those specifically identifying financial information, were not clearly identified under the definition of attest. The recom-mended change would define attest and report in the Act.

The legislative session which just began is called a short session. Our leg-islators are dealing with a few significant issues this session which makes passing legislative changes more challenging.

This year is also an election year, which means WSCPA members will be visit-ing with legislators during the summer to discuss key issues to the profession. If you are interested in volunteering or have a relationship with a state legislator, we would love to hear from you.

Kimberly Scott, CAE, is WSCPA Vice Presi-dent of Government and Member Rela-tions. Contact her at [email protected].

Annual MeetingThursday, June 9 | Seattle

How to Use Big Data to Create Business Advantage

in the Real World Brian Dennehy, PhD

Executive Vice President and Chief Marketing Officer, Nordstrom, Inc.

S A V EX T H EX D A T E


1) What is a data breach?a. A laptop is lost or stolen, and it has employee person-

ally identifiable information (PII) on itb. There is unauthorized access to your computer system

and PII is takenc. Paper files containing PII are stolen by an employee.d. a. and c.e. a., b. and c.

2) Most states have PII security laws that require notifi-cation if a company suffers a breach. Which companies and professional organizations are subject to these notification requirements?

a. All companiesb. Only large companiesc. Only public companiesd. Only companies in the medical and financial services

industries

3) Which take precedence in the event of a data breach?a. Federal lawsb. State lawsc. Federal or state law; whichever is more restrictived. Generally Accepted Privacy Principles (GAPP)

4) Which of the following should be encrypted to protect PII?

a. Hard-drives b. Electronic datac. Electronic filesd. E-maile. a., c. and d.f. a., b., c. and d.

5) Which of the following would you not immediately contact if you suspect a breach:

a. The firm’s attorneyb. The firm’s cyber insurance carrierc. The firm’s managing partnerd. Law enforcement

6) What does a “kill switch” feature do?a. Disables smart phones.b. Provides remote security to tablets and laptops.c. Neither a. nor b.d. Both a. and b.

7) If the CPA is using cloud services to process PII, who is primarily responsible for ensuring the confidentiality of the information?

a. The CPAb. The cloud services providerc. Neither

8) Cloud services providers should be willing to:a. Make a contractual commitment to support

compliance with applicable laws and regulationsb. Undergo external audits and security certifications,

such as Service Organization Control (SOC) 1, 2 or 3 reports

c. Implement measures for physical security as well as data security

d. a. and c.e. a., b. and c.

9) How might an employee’s computer become infected with a “drive by” download?

a. The employee’s mobile device gets too close to another mobile device

b. The employee visits a malicious websitec. The employee downloads a file from the Internetd. a. and b.e. a. and c.

10) You receive an e-mail message informing you of an issue with your bank account. The message includes a phone number to call as well as a link to access your account. The message format is similar to others you’ve received from your bank; however, you are aware of phishing scams and want to be careful. What is your best course of action?

a. Delete the emailb. Look for suspicious elements in the email, and if you

feel it is legitimate, then click on the link but don’t enter any information

c. Call the bank directly using the phone number pro-vided on the back of your bank card

11) When recycling or disposing of hard drives, which of the following are best practices?

Cyber-security has become a major risk concern for CPA firms of all sizes across the country. Trusted advisers such as CPAs should therefore be well-informed about preven-

tive measures in order to assist their firms and clients with the pre-breach environment, and to reduce the high costs associated with the post-breach environment.

Take this 15-question cyber IQ quiz to find out how prepared you are. Select the best answer out of those presented:

Test Your Cyber IQ


a. Creating an audit trail of serial-numbered inventory of equipment

b. Obtaining vendor certification that personal data has been destroyed

c. Pounding the drive with a hammer until it is unusable and tossing it into a trash can

d. a. and b.e. a., b. and c.

12) In the event of an actual or potential PII breach, which of the following is a correct initial response to the incident?

a. Stop the source of the incident by turning off or rebooting the system.

b. Do not turn off or reboot any systems.

13) When discussing or communicating a potential PII incident, avoid using the term(s):

a. “lost laptop”b. “potential malware intrusion”c. “breach”

14) When discussing or communicating the incident, which of the following is least preferred?

a. communication on a “need to know” basisb. face-to-face communicationc. email communicationd. telephone communication

15) When using a cloud services provider that stores information overseas, which of these two options is safer:

a. a U.S.-based provider with a foreign branchb. a foreign-based provider with a U.S. branch

ANSWERS

1) Answer: e. a, b. and c. Ascertaining a legally defined breach is a complex process and

requires the assistance of an expert specializing in security issues. A breach can be the loss of laptop or paper records, or the theft of these records in person, or over the Internet, or the accidental posting of personally identifiable information (PII) on the Internet. The list goes on and on. If you suspect a breach, contact your attorney and other risk advisers.

Some definitions: The U.S. General Services Administration in its Oct. 29, 2014, memo on “GSA Rules of Behavior for Handling

Personally Identifiable Information (PII)” defined “data breach” as including “the loss of control, compromise, unauthorized disclo-sure, unauthorized acquisition, unauthorized access, or any similar term referring to situations where persons other than autho-rized users with an authorized purpose have access or potential access to Personally Identifiable Information, whether physical or electronic. In the case of this policy, the term ‘breach’ and ‘inci-dent’ mean the same.”

The GSA memo also defined “Personally Identifiable Informa-tion (PII)” as “information about a person that contains some unique identifier, including but not limited to name or Social Security Number, from which the identity of the person can be determined.”

The federal Office of Management and Budget (OMB, memo M-10-23, June 25, 2010), stated: “The definition of PII is not anchored to any single category of information or technology. Rather, it requires a case-by-case assessment of the specific risk that an individual can be identified. In performing this assess-ment, it is important for an agency to recognize that non-PII can become PII whenever additional information is made publicly available—in any medium and from any source—that, when com-bined with other available information, could be used to identify an individual.”

2) Answer: a. All companies. State PII laws differ by state, but most states require that once

a company has determined it has been breached, or PII has been accessed by an unauthorized party, the company must notify the office of the state Attorney General and, in many cases, other state agencies. The mandated time period for reporting to notify the state and potentially impacted parties varies from a “reason-able” time period to 30 or 60 days. Many states require compa-nies to indicate how they plan to secure PII and what they will do if their PII is breached.

3) Answer: c. Federal or state law; whichever is more restrictive.

The federal laws take precedence if they are more restric-tive than the state laws, but the state laws take precedence if more restrictive than the federal laws. In addition, most federal laws give the power to the state Attorney General to levy fines. Further, many state laws require a company to be compliant with that state’s law if a company in another state has the PII of a resident of the first state. The prime example is Massachusetts, which requires a company to comply with its laws, regardless of where the company resides, if the company has PII of a Mas-sachusetts resident.

In some cases if a company does not verify that its vendors


are in compliance, it must communicate not having taken these precautions with all potentially impacted parties. In other cases the PII laws of foreign countries have to be respected as well. GAPP is not law but criteria developed by the AICPA and CPA Canada to assist organizations with the management of confidential information.

4) Answer: f. a., b., c. and d. Hard-drive encryption secures data

in the event a computer is lost or stolen. Data encryption protects PII such as Social Security numbers. File encryption protects files and email attachments, such as a PDF encrypted with a password or passphrase. Email digital certificates protect entire email messages, including the body of the message, as part of a subscription service.

5) Answer: d. Law enforcementThe firm will first need to verify

whether a breach has actually occurred as defined by state and federal laws, and the firm’s attorney, cyber insurance carrier, and managing partner will help make that determination. If a breach has occurred, the next steps would be to comply with state and federal laws, which may require reporting to law enforcement.

6) Answer: d. Both a. and b. Remote security is especially useful in

preventing access to protected files in the event a computer, tablet, smart phone or USB storage drive has been lost or stolen. Encryption policies and other protec-tive actions can be managed by the firm or by a third-party managed service pro-vider (MSP). Some services are available by online subscription, without the need to purchase or support hardware or soft-ware infrastructure.

7) Answer: a. The CPA The CPA is responsible and should

perform the necessary due diligence to address any potential threats to compli-ance with the “Confidential Client Infor-mation Rule.” Therefore, before disclosing confidential client information to a third-party service provider, a CPA should do one of the following: a) Enter into a con-tractual agreement with the third-party service provider to maintain the confiden-tiality of the client information and ensure that appropriate procedures/safeguards

are in place to protect such information. b) Obtain specific consent from the client before disclosing confidential information to the third-party service provider.

8) Answer: e. a., b. and c. Cloud services providers should be

willing to provide several types of assur-ances to CPAs regarding the security of client information, including an incident response plan. As part of the plan, the provider and the CPA should determine ahead of time who will lead the response team, prepare client notifications, and pro-vide legal counsel. The provider should also have insurance in place to cover the damages resulting from a breach. Other-wise, the CPA firm may be responsible for such damages—a good reason for the firm to have cyber insurance coverage in place.

9) Answer: b. The employee visits a malicious website

An employee’s computer could become infected with malware from a malicious website just by visiting it, without stop-ping to click or accept any software. This method of infection is usually limited to users with unpatched or out-of-date soft-ware that has a security flaw.

10) Answer: c. Call the bank directly using the phone number provided on the back of your bank card

This is the best approach, even if the message appears to be legitimate. Use a phone number that you already know and trust to be the bank when calling to verify, not a number within the email. Never click links or visit websites included or mentioned in any suspicious or unfamiliar email or senders. By hovering the cursor over links without clicking them, you can sometimes gain more information and assurance, but not always.

11) Answer: d. a. and b. Hard drives and other computer com-

ponents need to be recycled, due to the metals they contain. The Environmental Protection Agency has been known to impose substantial fines for companies not documenting proper computer dis-posal. Use a reputable data destruction vendor that will certify destruction when recycling computers.

12) Answer: b. Do not turn off or reboot any systems

First record critical facts regarding the incident, such as date and time the incident was discovered, who discovered the inci-dent, what occurred, what systems, appli-cations and information were potentially compromised, and what data elements were included (e.g., name, date of birth, Social Security number, or any other PII). Once this information has been recorded, the affected systems should be backed up or mirrored to enable future analysis, including forensic analysis.

13) Answer: c. “breach” Using the term “breach” can trigger

legal obligations. Instead, refer to the event as a “security incident” or simply what it is, such as “a lost laptop” or “potential mal-ware intrusion.” Your attorney and other risk advisers will help you determine whether a breach, as defined by law, actu-ally occurred.

14) Answer: c. email communicationCare must be taken in managing com-

munications and discussing the incident. Limit discussions to a need-to-know basis, with communications taking place over the phone or face-to-face rather than by email, which may be compromised if an incident is still in progress.

15) Answer: a. a U.S.-based provider with a foreign branch

If your firm outsources work contain-ing PII, the more contacts an offshore provider has in the U.S., the more legal recourse the client and CPA have in the event of an unauthorized PII disclosure.

SCORING

13 to 15 correct = Excellent. Keep it up!

10 to 12 = Good. Build your knowledge!

9 or less correct = Fair. Time to brush up!

To learn more about CAMICO’s risk man-agement, breach response services, and cyber coverage, visit www.camico.com and click “Solutions” and “Cyber Coverage.” Or call 1-800-652-1772.


TECH TIP

Creating Stand-Alone PivotCharts in Excel 2013By K2 Enterprises

PivotCharts are outstanding tools for helping readers to under-stand the information communi-

cated in PivotTables. Some PivotTable users describe PivotCharts as graphi-cal extensions of PivotTables because in prior versions of Excel, you needed to build a PivotTable before you could build a related PivotChart. However, beginning with Excel 2013, you can build standalone PivotCharts without an accompanying

PivotTable. In this tip, you will learn how to create standalone PivotCharts, based on Excel’s Data Model feature.

Constructing a Standalone PivotChart

To construct a standalone PivotChart, begin by clicking in or selecting the data range you want to convert to your Pivot-Chart. Then, select PivotChart from the Insert tab of the Ribbon. In the resulting

Figure 1. Creating a Standalone Pivot Chart in Excel

© iStock by Getty Images / Shapecharge


TECH TIP

Create PivotChart dialog box, check the box next to Add this data to the Data Model, as shown in Figure 1. Click OK to display the PivotChart place-holder and the Field List.

Create the PivotChart by dragging fields to the appropriate drop areas in the PivotChart Field List. Re-size, filter, and format the chart as required to complete the chart. A “hidden” PivotTable summa-rizes the data for this PivotChart just as for any other, but the PivotTable is con-tained in Excel’s in-memory Data Model and is not visible to users. Furthermore, you can copy or move the PivotChart to another workbook without affecting a user’s ability to modify the chart. This

Learn More

April 21 QuickBooks for Accountants Bellevue (16QBPAP21) or Webcast (16WWQBPAP)

April 22Excel Tips, Tricks and Techniques for Accountants Bellevue (16EXLAP22) or Webcast (16WWEXLAP)

Register atwww.wscpa.org/cpe/catalog

allows end-users to use the chart for analysis without needing any knowledge whatsoever of PivotTables.

SummaryPivotCharts are yet another fantas-

tic feature in Excel, but go largely unno-ticed by most Excel users. Perhaps this is because of the previous requirement to build a PivotTable before building a Pivot-Chart. With that requirement vanishing in Excel 2013, there is no reason not to use PivotCharts for enhanced reporting and analytics capabilities in Excel.

For a video demonstration of this tip, please visit www.tinyurl.com/k2tips190.

PivotCharts are yet another fantastic feature in Excel, but go largely unnoticed by most

Excel users. Perhaps this is because of the previous requirement to build a PivotTable

before building a PivotChart. With that requirement vanishing in Excel 2013, there is no

reason not to use PivotCharts for enhanced reporting and analytics capabilities in Excel.


COMMUNICATION

More is better. That’s what we’ve been trained to believe in busi-ness. Have a problem? Throw

more at it until it’s fixed. More time. More money. More resources.

It shouldn’t be a surprise, then, that most business professionals assume “more” improves communication too. They use more words, spend more time talking and engage in more conversations all in an effort to become better commu-nicators. Those tactics rarely work.

Recall the last time you were trapped in a long conversation at a networking event. How much time did you actually spend listening versus planning your get-away? Think about the long email that recently landed in your inbox. How long did it take for you to figure out what it actually said? Finally, what about the col-league who finds it necessary to go over the details of the upcoming project multi-ple times? At what point do you get tired of having the same conversation over and over and start avoiding him?

More isn’t always better and most of us don’t have time to fit anything more into our schedules. It would be far easier to utilize the conversations that already take place and learn to read between the lines of what your colleagues are actu-ally saying – particularly if they’re talking sports.

It’s tempting to write off sports con-versations as a waste of time at work. After all, shouldn’t your colleagues be spending more time concentrating on the upcoming deadline and less time talk-ing about their favorite player or ranting about a costly coaching decision? Maybe but consider this: every conversation about a team, a player or a game opens a window to their personalities and com-munication styles.

‘More’ vs. ‘More effective’ CommunicationBy Jen Mueller

Knowing what makes your colleagues tick allows you to strategize more effec-tive conversations. You’ll be able to posi-tion your ideas and messages in ways that get heard and acted on. You’ll get more out of conversations and the entire staff will work better together. This can be done without scheduling more meetings or engaging in more conversations.

All you have to do is be willing to let your colleagues talk sports. Yearly polls show that more than half of all Ameri-cans are sports fans. Based on the num-bers, there’s a good chance you work with a few of them. In addition, sports talk extends beyond the final score of the game or statistics. It opens the door to a number of conversation topics and connection points that are important in developing relationships. Lastly, sports fans talk to other sports fans regardless

of title, age or work experience. This means it’s just as likely that an executive would talk sports with a recent college graduate as with another executive. Key influencers and decision makers become more accessible when you can use sports as a conversation starter.

With that in mind, sports conversa-tions become a key tool in developing business relationships, as well as improv-ing communication. Here are five things you can learn from sports conversations at work:

1. Are they team players? Fans who loyally wear jerseys or team gear enjoy being part of a community, part of “the team.” They likely thrive in group set-tings and appreciate the cama-raderie and the connection that

Knowing what makes your colleagues tick allows you to strategize more effective conversations. You’ll be able to position your ideas and messages in ways that get heard and acted on.

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COMMUNICATION

comes from being a part of a team. This could mean they are good at collaboration and will do better working with others rather than on their own. Use this information to determine how to best work with your colleagues. Is it side-by-side on a project from start to finish, or separately until the final steps?

2. What characteristics or values do they prize? Ask a colleague about his or her favorite player and pay attention to the description. The on-field ability and stats are only part of the attraction. For example, you might hear about Russell Wilson’s poise and leadership, Richard Sherman’s confidence and trash talk, or Marshawn Lynch’s hard-nosed “Beast Mode” running style. If they find those qualities attractive in the Seahawks, they will find them attractive in people they work with and may seek to emulate the traits themselves. This can be particularly helpful in knowing how best to compli-ment a colleague.

3. How do they respond to a win or a loss? Listening to the way fans talk about the outcome of the game can give you insight into their ability to handle success and failure. Are they gracious winners? Sore losers? Do they blame officials? True colors come through when people talk about a game. Their reaction to wins and losses at work will be similar to how they express their fandom. Consider the timing of your conversation with a colleague who has a strong reaction to success or failure.

4. Are they Monday morning quarterbacks? Second- guessing and criticizing a

coaching decision a day or two after the game seems like just part of being a fan, but it is another aspect of behavior that is tied to personality traits. A colleague who consistently second guesses a coach is more likely to challenge or question authority, which — depending on your organization and the degree to which the person does this — can be seen as a good or bad trait. It’s not some-thing to be taken personally if you and a colleague don’t see eye-to-eye on decision making and authority.

5. What are their preferred communication styles? People have different styles, which can be demonstrated by the way each person describes a game. Some people focus on the stats and numbers involved. Those with this communication style usually prefer short, infor-mation driven conversations. Others include more details and will talk about the overall game atmosphere, food and enter-tainment. This style typically

lends itself to longer exchanges. Neither is right or wrong, but recognizing the difference allows you to tailor your mes-sage and accommodate different communication styles.

There’s a lot you can learn about your colleagues from their sports talk. Give them a reason to talk and they’ll give you clues on how to get on the same page, reduce miscommunication, eliminate frustrating conversations and increase productivity without doing any-thing “more.”

Jen Mueller, America’s Expert Talker, pursued a career in sports broad-casting after repeated comments of “talks too much” from teachers and family members. Jen currently serves as a member of the Seattle Mariners tele-

vision broadcast team and the radio side-line reporter for the Seattle Seahawks. She founded Talk Sporty to Me in 2009 and is the author of two books. Contact her at [email protected].

There’s a lot you can learn about your colleagues from their sports talk. Give them a reason to talk and they’ll give you clues on how to get on the same page, reduce miscommunication, eliminate frustrating conver-sations and increase productivity without doing anything “more.”


Candice Bassell ABV Credential Committee, Member

Jennifer A. Becker Harris Exempt Organizations Taxation Technical Resource Panel, Member

Robert Ross Berntson Practice Advisory Group, Member

Christopher M. Berry Airline Revenue Recognition Task Force, Member

Jennifer A. Brenner Not-for-Profit Organizations Expert Panel, Chair

Dora Burzenski Audit Issues Task Force, Observer

Dora Burzenski Auditing Standards Board, Member

Gordon T. Edwards Healthcare Revenue Recognition Task Force, Member

Heather Fitzpatrick Designated Council Representative For One Year, State Rep

Richard J. Fohn Personal Financial Planning Services Standards Review Task Force,

Member

Richard J. Fohn PFP Advisory Task Force, Member

Erica Forhan Governmental Audit Quality Center Executive Committee, Chair

Erica Forhan National Peer Review Committee, Member

Martin U. Fuhs Telecommunications Revenue Recognition Task Force, Member

Stacy Harrington Software Revenue Recognition Task Force, Member

Lori L. Hope Joint Trial Board, Member

Waylon Jones Student Recruitment Committee, Member

Lori Laubach ASEC Privacy Working Group, Member

David John Miniken Council - Elected Members, Member

Christopher B. Morgan Telecommunications Revenue Recognition Task Force, Member

Justin W. Neff ASB Sustainability Task Force, Member

Thomas Graham Neill Uniform Accountancy Act Committee, Member

Cheryl R. Olson Not-for-Profit Advisory Council, Member

Susan L. Paulsen Healthcare Revenue Recognition Task Force, Member

Ronald George Rauch Aerospace and Defense Revenue Recognition Task Force, Member

Christopher G. Schmidt Board of Directors, Member

Jennifer M. Schmidt Tax Methods and Periods Technical Resource Panel, Member

Kevin R. Sell IRS Advocacy & Relations Committee, Member

William A. Simer Council - Elected Members, Member

David A. Stolz Personal Financial Planning Executive Committee, Member

Amy Sutherland Board of Examiners (BOE), Member

Amy Sutherland Content Committee, Chair

Lisa M. Swartos Auditing & Attestation (AUD) Subcommittee, Member

Louise C. Taylor Business and Industry Executive Committee, Member

Laurie J. Tish Professional Ethics Executive Committee, Member

Susan Wolcott Pre-certification Education Executive Committee, Member

Cheryl Kathleen Woods PCPS Executive Committee, Member

Congratulations to the Washington AICPA Committee Appointments for 2015-2016

Thank you to the many members who participate on WSCPA committees and to the following committee chairs for serving during the 2015-2016 year:

Sadie ArmijoOlga Alexandra Darlington, CPAGovernment Accounting & Auditing

Eric M. Curtiss, CPAConstruction Industry Conference

Nicole Marie Dresser, CPATaxation

Donna R. Evered, CPA, JDPacific Tax Institute

Dena Anne Herbolich, CPAWomen’s Leadership Summit

David K. James, CPA, CMAPension and 401(k) Trustees

Mary E. Joyce, CPANot-for-Profit

Shannon E. Knipp, CPAPeer Review System RAB

Rachel A. Le Mieux. CPA, CMI Washington State Tax Conference

Katherine L. McCone, CPA Peer Review Engagement RAB

Jonathan Mark McNicol, CPASouth Sound Industry

Jeffrey K. Mock, CPA, ABV, CVAPeer Review Executive

Randy Marc Multack, CPASole Practitioners Group

Varonica Stevens Ragan, CPAAccounting Auditing & Review Standards

Karen C. Scott, CPA, MBA, CVAFinancial Statement Review

Kevin Wayne SilisIT Directors

Norman R. Smith, CPA, PFS, CFPPersonal Financial Planning

Ryan Stute, CPA, MSTaxInternational Tax Committee

Jeanne Nguyen, CPAProfessional Conduct

Other Committees: New Professionals, CPAPAC, Chapter Board Chairs

WSCPA Committee Members: Thank you for your service


in tandem to get this legislation passed in Washington in 2008 and also sup-ported other states who wanted to make these changes. In fact, Rick and I testified together before two committees of the California State Board of Accountancy in support of their proposed mobility leg-islation. We were told at the time that they could not remember a similar joint presentation. In terms of our own mobil-ity legislation, we convened a group of key stakeholders who were already attending a NASBA Annual Meeting and got every-one in the room or on the telephone to finalize the language that we would pres-ent to our legislature. Again, no one could remember when an approach such as this had been attempted before, but we were able to finalize our legislative language in a 2-3 hour meeting on a Friday night, instead of going back and forth for sev-eral weeks in an iterative process of get-ting concurrence on language.

During his varied career, Rick has worked in government, academia, private industry and public accounting. He taught CPE courses and performed peer reviews in almost every state in the US. He was presented the John L. O’Brien Lifetime Achievement Award by WSCPA in 2007 and in 2013 was awarded a similar honor by NASBA, the Lorraine P. Sachs Stan-dard of Excellence Award that recognizes Board of Accountancy staff leaders who demonstrate excellence in regulation and make a positive impact on the profession.

Rick has announced his retirement as of January 31, 2016, assuming the Gov-ernor has appointed his replacement by then. If not, he will stay on for a bit longer. He has built a very capable staff ably led day-to-day by his Deputy Director, Jen-nifer Sciba. She has been instrumental in helping Rick create an outstanding staff. Likewise, Tom Sadler, the former Deputy

Director, was side by side with Rick for several years as we all collectively worked with highly qualified and motivated state board members to make our state board among the best in the country.

It has been an honor and a privilege to work with Rick over this past decade. We have become close friends who can disagree without being disagreeable. I will miss working with him and travel-ling with him in our professional pur-suits. I definitely would not have been able to accomplish alone what we have done together, and it certainly would not have been as much fun. I will also miss the company of his very charming wife, Anne, who has always been a key part of his success. All CPAs in Washington owe Rick a great debt of gratitude. Our profession is better because of him. Best wishes for a long and healthy retirement, my friend.

Rick Sweeney, A Difference Makercontinued from page 4


WASHINGTON CPA FOUNDATION

Thank you to everyone who contributed to the Washington CPA Foundation in 2015. Your

contributions allowed the Foundation to grant substantial scholarships to 21 promising and appreciative students. It is exciting to encourage these individual students on their journeys toward earn-ing the CPA designation, as it also ben-efits the profession.

It is projected that CPAs will be increasingly in demand in the near future. Although university accounting programs in Washington State are at full capacity, not every accounting student recognizes the value of the CPA designation. Those who dream of becoming a CPA must invest in an extra year or two of college. Providing scholarships not only helps defray college costs, but also demonstrates to students that CPAs believe in them and want them to join the profession.

By now you’ve probably heard that the Foundation will be awarding 40 scholar-ships this year—totaling $200,000—to accounting students in Washington in 2016. The Foundation is doubling the number of scholarships awarded and increasing the individual awards to $5,000. How exciting!

The Foundation is able to provide these scholarships due to named and endowed scholarship providers, WSCPA members who contribute each year, and funding from the State Board of Accoun-tancy as stated in legislation.

This year the Foundation would like to ask for your help either in getting the word out to students or by participating in reviewing scholarship applications.

• In order to spread the word

about the scholarships, staff and volunteers are visiting or

Starting the Year Thankful, Looking Toward Foundation’s Future By Kimberly Scott, CAE

notifying colleges throughout the state. If you are already visiting campuses, or if you would like to, please contact us to request mate-rials. Please see an example of our campaign on the back cover of this magazine.

• If you are interested in vol-unteering to review scholar-ship applications in March, please let me know. We are looking to increase our review committee by 20 volunteers.

The criteria for applying for a schol-arship is still the same. You can find the details at www.wscpa.org/become-a-cpa/scholarships. This year the application is completely online and the process of applying has been streamlined to make it easier for both students and those pro-viding letters of recommendation.

Look for other exciting programs from the Foundation in 2016.

The Foundation is looking at sup-porting organizations that help increase the ethnic diversity of the CPA pipeline. They are specifically looking to support

programs that focus on students in kin-dergarten through community college. If you are aware of or work for an organi-zation or school that has, or is looking to establish, a program to promote the CPA profession to under-represented groups, please watch for this opportunity.

Be on the lookout for another pro-gram related to the future of the Founda-tion. The funding from the State Board, as stated in the contract, must be depleted within 20 years. The Foundation trustees want to be prepared to provide scholar-ships in the future, or whatever it may be that is necessary to continue to support the future of the profession in Washing-ton State.

Thank you again for believing in and supporting the future of the CPA profession!

Kimberly Scott, CAE, is Executive Direc-tor of the Washington CPA Foundation. You can contact her at [email protected].

orprune shrubs

for 527 hours*

orreshelve

books for 527 hours*

orwait

tables for 527 hours*

orflip burgers

for 527 hours*

Want to helpspread the word about scholarships?

Contact us to request posters or brochures.


PHOTO ALBUM

Pacific Tax Institute November 4-5, 2015Bell Harbor International Conference Center, Seattle

Follow us for event photos/updates


Golf Tournament

Monday, June 13

Only $135/person, includes golf, lunch, dinner, drinks, cart and prizes

Sponsorships are available.

Register at www.wscpa.org/golf

Woodinville, WA

Spokane Area WSCPA/RMA Golf Outing

Thursday, May 26

Only $150/person, includes golf, cart, driving range use, dinner, no-host reception

Sponsorships are available.

Register starting March 10 at www.wscpa.org/spokanegolf

Worley, ID


CHAPTERS

Date CPE Event Location

Bellevue Area Chapter Bellevue

Jan 19 2 Federal Tax Update, 7:30am-9:30am 16CHBVJA19 Maggiano’s - Lincoln Square

May 19 2 State and Local Tax Update, 7:30am-9:30am 16CHBVMY19 Maggiano’s - Lincoln Square

Bellingham Area Chapter Bellingham

Jan 21 2 Annual Tax Update, 7:30am-9:30am 16CHBLJA21 Bellingham Golf and Country Club

Everett Area Chapter Everett

May 10 1.5 Professional Update, 7:30am-9:30am 16CHEVMY10 Holiday Inn Everett

Olympia Area Chapter Olympia

Mar 2 2 Long Term Care Costs - Issues, Strategies, & Medicaid Myths, 12pm-2pm 16CHOLMR02 Indian Summer Golf

Apr 6 2 What’s Next for the City of Olympia? 12pm-2pm 16CHOLAP06 Indian Summer Golf

May 4 2 WSBOA & WSCPA Update, 12pm-2pm 16CHOLMY04 Indian Summer Golf

Spokane Area Chapter Spokane

Jan 13 2 A Review of the National, Regional and Local Economies and a Look Forward to 2016, 11:30am-1:30pm

16CHSPJA13 The Lincoln Center

Tacoma Area Chapter Federal Way

Jan 14 2 Tax Considerations and Preparing Returns for Legal Marijuana Businesses with a Bonus Happy Hour, 3:00pm-6:00pm

16CHTAJA14 Courtyard by Marriott

Jan 20 2 Federal Tax Update, 7:30am-9:30am 16CMSSIJA Courtyard by Marriott

Feb 17 2 Cyber/IT Security - Including the Cloud, 7:30am-9:30am 16CMSSIFE Courtyard by Marriott

Mar 16 2 Business Ownership Succession Planning, 7am-9:30am 16CMSSIMR Courtyard by Marriott

Apr 20 2 State Nexus: It’s Worse Than You Think! Washington State Tax Update, 7:30am-9:30am 16CMSSIAP Courtyard by Marriott

Tri-Cities Area Chapter Kennewick

Jan 11 1 Federal Tax Update, 12pm-1pm 16CHTCJA11 Country Gentleman Restaurant

May 9 1 State and Local Tax Update, 12pm-1pm 16CHTCMY09 Country Gentleman Restaurant

Get involved in YOUR LOCAL CHAPTER www.wscpa.org/chapters


Free Tax Podcastswww.wscpa.org/more/podcasts



CPE Digest

www.wscpa.org/cpe/catalog

Boxer Brenda, CPA

I’m preparing for a knockout tax season by attending the Tax Advisors Update with Andy Biebl and Chris Hesse.

Register now for the 2015 Tax Advisors Update with Andy Biebl and Chris Hesse and you’ll discover why so many CPAs prepare for a knockout tax season with these all star trainers.

Register now for your WSCPA tax updates and make this the best tax season yet.

Andy Biebl

Chris Hesse

Tax season is on its way. Are you prepared?


Fees

Date CPE

CreditsCourse Code WSCPA

Member Fee

Non- MemberFee

AICPA Member Discount

Facility Subject

# Type

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

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

ç New | Non-tech credits | Webcast from WSCPA | E Ethics credits | Conference | Y Yellow Book | C CFP | l Chapter event | S Season Ticket/Coupons N/A | Networking event

Fees

Date CPE


Member Fee

Non- MemberFee


Facility Subject

# Type


EVENTS BY LOCATION WSCPA education and events scheduled for January - May 2016 are listed below, chronologically by location.

If you are looking for a program in another location, it may be scheduled for later in the year.

Using the online CPE & Event Catalog at www.wscpa.org/cpe/catalog, you can search by location.

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

SUBJECTS The main subject area is listed for each program.

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

NEW CPE events added throughout year to:

www.wscpa.org/cpe/catalogA&A Accounting and AuditingCS Consulting ServicesEB Employee BenefitsPFP Estate/Financial Planning

Ethics EthicsGNP Government / NFPMG ManagementPD Personal DevelopmentSK Specialized Knowledge

TAX TaxationTEC Technology

Bellevue

1/12 8 Tax Forms Boot Camp: LLCs, Partnerships, and S Corporations, 8am-4pm

16TFBCJA 310 410 WSCPA TAX

Webcast also available 16WWTFBCJA 300 400 Webcast TAX

1/13 8ç

Federal Tax Update, 8am-4pm 16GGFTUJA 295 395 WSCPA TAX

Webcast also available 16WWGGFTU 285 385 WSCPA TAX

1/14 8 Key Tax Issues Facing Members In Industry: Affordable Care Act and Other Updates, 8am-4pm

16KEYIJA14 295 395 WSCPA TAX

Webcast also available 16WWKEYIJA 295 395 Webcast TAX

1/18 8 Cutting Edge Tax Strategies: Everything You Always Wanted to Know about Real Estate (But Were Afraid to Ask), 8am-4pm

16CEREJA18 295 395 WSCPA TAX

Webcast also available 16WWCEREJA 285 385 Webcast TAX

1/19 2 l S

Federal Tax Update, 7:30am-9:30am 16CHBVJA19 35 45 Maggiano's - Lincoln Square

TAX

1/20 4ç

Federal Taxation of Legal Marijuana, 8am-11:30am 16FTLMJA 129 159 WSCPA TAX

Webcast also available 16WWFTLM 129 159 WSCPA TAX

1/25 8 The Business Financial Health Checkup: A Process to Identify Misstate-ments and Profitability Roadblocks Using Analytical Procedures by Walter Haig, 8am-4pm

16BFHCJA25 315 415 WSCPA A&A

1/26 8 2015 Tax Advisors Update, 8am-4pm 16BTAUJA26 345 445 Meydenbauer Center TAX

Webcast also available 16WWBTAUJA 335 435 Webcast TAX

1/26 8 Accounting Standards for Small- and Medium-Sized Businesses: the Annual Update and Review of GAAP and the Tax, Cash, and AICPA Special Purpose Frameworks by Walter Hai, 8am-4pm

16ASURJA26 315 415 WSCPA A&A

1/27 8 Compilation and Review Standards: the Annual Update and Review by Walter Haig, 8am-4pm

16CRURJA27 315 415 WSCPA A&A

Webcast also available 16WWCRURJA 305 405 Webcast A&A

1/28 8 The Personal Financial Health Checkup: A process on how to become “Financially Self-Sufficient” by Walter J. Haig, 8am-4pm

16PFHCJA28 315 415 WSCPA A&A

1/29 8 AICPA's Annual Federal Tax Update, 8am-4pm 16PTUJA 295 395 -30 WSCPA TAX

Webcast also available 16WWPTUJA 285 385 -30 Webcast TAX

3/15 4 E Washington CPA Regulatory Ethics by James Rigos (A WA Require-ment), 8am-11:30am

16ETJRMR15 185 225 WSCPA Ethics

3/28 8 Annual Accounting Update and Review for Accountants in Industry, 8am-4pm

16AAUDIMR 295 395 WSCPA A&A

Webcast also available 16WWAAUDIM 285 385 Webcast A&A


Fees

Date CPE


Member Fee

Non- MemberFee


Facility Subject

# Type


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


3/29 8 Financial Statement Presentation and Disclosure - A Realistic Approach, 8am-4pm

16FSPDMR29 295 395 WSCPA A&A

Webcast also available 16WWFSPDMR 285 385 Webcast A&A

4/19 8 Lean Accounting: Higher Profits by Streamlining Operations, 8am-4pm 16LAMAAP 295 395 -30 WSCPA A&A

Webcast also available 16WWLAMAAP 285 385 -30 Webcast A&A

4/20 8 Annual Update for Controllers, 8am-4pm 16SKSBAP 295 395 -30 WSCPA MG

Webcast also available 16WWSKSBAP 285 385 -30 Webcast MG

4/21 8 QuickBooks for Accountants, 8am-4pm 16QBPAP21 295 395 WSCPA TEC

Webcast also available 16WWQBPAP 285 385 Webcast TEC

4/22 8 Excel Tips, Tricks and Techniques for Accountants, 8am-4pm 16EXLAP22 295 395 WSCPA TEC

4/25 8 The 8-Hour MBA: Value Added, 8am-4pm 168MBAVAP 295 395 WSCPA MG

4/26 8 The 8-Hour MBA: Business Strategy, 8am-4pm 168MBABAP 295 395 WSCPA MG

4/28 8 The New Controllership: Keys to Boosting Corporate Performance, 8am-4pm

16CCOFAP 295 395 -30 WSCPA MG

Webcast also available 16WWCCOFAP 285 385 -30 Webcast MG

4/29 8 Advanced Business Law for CPAs, 8am-4pm 16ABLTAP 295 395 -30 WSCPA MG

Webcast also available 16WWABLTAP 285 385 -30 Webcast MG

5/10 8 CPA Succession Planning, 8am-4pm 16CPASMY10 300 400 WSCPA SK

Webcast also available 16WWCPASMY 290 390 Webcast SK

5/11 8 Fringe Benefits, 8am-4pm 16FBMY11 300 400 WSCPA TAX

Webcast also available 16WWFBMY 290 390 Webcast TAX

5/16 8 Combating Fraud: Turning Vulnerability to Victory Every Day, 8am-4pm 16CFVVMY 310 410 WSCPA A&A

5/17 8 Current Developments and Best Practices for Today’s CFOs and Controllers, 8am-4pm

16TCFOMY 310 410 WSCPA MG

5/19 2 l S

State and Local Tax Update, 7:30am-9:30am 16CHBVMY19 35 45 Maggiano's - Lincoln Square

TAX

5/23 8 The Business Financial Health Checkup: A Process to Identify Misstatements and Profitability Roadblocks Using Analytical Procedures by Walter Haig, 8am-4pm

16BFHCMY23 315 415 WSCPA A&A

Bellingham

1/21 2 ç l

Annual Tax Update, 7:30am-9:30am 16CHBLJA21 35 35 Bellingham Golf and Country Club

TAX

Everett

4/25-26 16 u Governmental Accounting & Auditing Conference 2016 (Everett), 8am-5pm

16GAACE 385 485 Everett TBA GNP

5/10 1.5 ç l

Professional Update, 7:30am-9:30am 16CHEVMY10 35 40 Holiday Inn Everett TAX

Federal Way

1/14 2 l S

Tax Considerations and Preparing Returns for Legal Marijuana Busi-nesses with a Bonus Happy Hour, 3:00pm - 6:00pm

16CHTAJA14 35 45 Courtyard by Marriott TAX

1/20 2 l S

Federal Tax Update, 7:30am-9:30am 16CMSSIJA 30 30 Courtyard by Marriott TAX

2/17 2 l S

Cyber/IT Security - Including the Cloud, 7:30am-9:30am 16CMSSIFE 30 30 Courtyard by Marriott TEC

3/16 2 l S

Business Ownership Succession Planning, 7am-9:30am 16CMSSIMR 30 30 Courtyard by Marriott MG

4/20 2 l S

State Nexus: It's Worse Than You Think! Washington State Tax Update, 7:30am-9:30am

16CMSSIAP 30 30 Courtyard by Marriott TAX

5/18 4 E Washington CPA Ethics and New Developments by Mark Hugh (A WA Requirement) Sponsored by the South Sound Industry Chapter, 7:30am-11:30am

16ETMHMY18 150 150 Courtyard by Marriott Ethics


Fees

Date CPE


Member Fee

Non- MemberFee


Facility Subject

# Type




Kennewick

1/11 1 l S

Federal Tax Update, 12pm-1pm 16CHTCJA11 20 20 Country Gentleman Restaurant

TAX

5/9 1 l S

State and Local Tax Update, 12pm-1pm 16CHTCMY09 20 20 Country Gentleman Restaurant

TAX

Olympia

3/2 2 l S

Long Term Care Costs - Issues, Strategies, & Medicaid Myths, 12pm-2pm

16CHOLMR02 40 40 Indian Summer Golf PFP

4/6 2 l S

What's Next for the City of Olympia?, 12pm-2pm 16CHOLAP06 40 40 Indian Summer Golf MG

5/4 2 l S

WSBOA & WSCPA Update, 12pm-2pm 16CHOLMY04 40 40 Indian Summer Golf SK

Seattle

1/25 8 2015 Tax Advisors Update, 8am-4pm 16BTAUJA25 345 445 Bell Harbor Conf Ctr TAX

5/9 8 u International Tax Conference 2016, 8am-5pm 16INTC 295 395 Bell Harbor Conf Ctr TAX

5/17 8 u Health Care Conference 2016, 8am-5pm 16HCC 280 380 Bell Harbor Conf Ctr SK

5/18 8 u Women's Leadership Summit 2016, 8am-5pm 16WLS 305 405 Bell Harbor Conf Ctr PD

Spokane

1/27 8 2015 Tax Advisors Update, 8am-4pm 16BTAUJA27 345 445 Mirabeau Park Hotel TAX

4/25-26 16 u Governmental Accounting and Auditing Conference 2016 (Spokane), 8am-5pm

16GAACS 385 485 NE WA Educ Svc District 101

GNP

Tacoma

4/25-26 16 u Governmental Accounting and Auditing Conference 2016 (Tacoma), 8am-5pm

16GAACT 395 495 Tacoma Convention & Trade Ctr

GNP

Webcast also available 16WWGAAC 385 485 Webcast GNP

Your Desk - Webcasts and Webinars

1/12 8 Choice of Entity Workshop WEBCAST, 8:30am-4:30pm 16WBCJA12B 275 375 Webcast TAX

1/12 8 Staying Current with Nonprofit Accounting and Auditing WEBCAST, 8:30am-4:30pm

16WBCJA12A 275 375 Webcast A&A

1/13 8 Advanced Tax Collection Defense WEBCAST, 8:30am-4:30pm 16WBCJA13C 275 375 Webcast TAX

1/13 4 Controller’s Update: Today's Latest Trends WEBCAST, 10am-2pm 16WBBJA13A 149 199 Webcast MG

1/13 8 Controls, Risks and Financial Reporting WEBCAST, 8:30am-4pm 16WBCJA13B 275 375 Webcast A&A

1/13 8 Partnership and LLC Taxation: Advanced Issues, Including Transfers of Interests and Liquidations WEBCAST, 8:30am-4pm

16WBCJA13A 275 375 Webcast TAX

1/13 2 Trusts – Accounting and Taxation WEBINAR, 10am-12pm 16WNCJA13A 79 94 Webinar TAX

1/14 1 AICPA Conflicts of Interest: A New 2015 Approach WEBCAST, 9am-10am

16WBAJA14A 39 59 Webcast SK

1/14 4 Capitalized Costs and Depreciation: Key Issues and Answers WEB-CAST, 10am-2pm

16WBBJA14A 149 199 Webcast TAX

1/14 2 Partnerships and LLCs: Tax Issues in Forming the Entity WEBINAR, 7am-9am

16WNCJA14A 79 94 Webinar TAX

1/14 2 Partnerships and LLCs: Tax Issues in a Sale or Liquidation WEBINAR, 10am-12pm

16WNCJA14B 79 94 Webinar TAX

1/15 2 Nuts & Bolts: Detecting & Deterring Fraud in Small Business WEBI-NAR, 12pm-2pm

16WNCJA15A 79 94 Webinar A&A

1/18 2 FICA/Self-Employment Tax Exposure: S Corps & Partnerships WEBI-NAR, 12pm-2pm


1/18 8 Form 1041 Workshop WEBCAST, 8:30am-4pm 16WBCJA18A 275 375 Webcast TAX

1/18 8 Transform Your Busy Season with Technology Tools You Already Use WEBCAST, 8:30am-4:30pm

16WBCJA18B 275 375 Webcast TEC

1/19 8 Y Advanced Auditing of HUD-Assisted Projects WEBCAST, 8:30am-4pm 16WBCJA19A 275 375 Webcast GNP


Fees

Date CPE


Member Fee

Non- MemberFee


Facility Subject

# Type




1/19 8 Nine Tax & Financial Planning Topics That Will Make You a Hero to Your Clients WEBCAST, 8:30am-4:30pm

16WBCJA19B 275 375 Webcast TAX

1/19 4 Smart Tax Planning Strategies for Individuals WEBCAST, 10am-2pm 16WBBJA19A 149 199 Webcast TAX

1/20 8 Affordable Care Act - Review and Update WEBCAST, 8:30am-4:30pm 16WBCJA20B 275 375 Webcast TAX

1/20 8 Compilations and Reviews: Risks, Procedures and Fraud WEBCAST, 8:30am-4:30pm

16WBCJA20C 275 375 Webcast A&A

1/20 2 Deceit, Lies and Embezzlement: How I Stole $350,000 WEBINAR, 7am-9am


1/20 8 LLCs and Partnerships: Review of Selected Topics WEBCAST, 8:30am-4pm

16WBCJA20A 275 375 Webcast TAX

1/20 4 New FASB Developments for Business & Industry WEBCAST, 10am-2pm

16WBBJA20A 149 199 Webcast A&A

1/21 2 Live Video Interview with Elder Fraud Expert David Kessler WEBINAR, 9am-11am


1/21 8 Preparing Complex 1040s WEBCAST, 8:30am-4:30pm 16WBCJA21A 275 375 Webcast TAX

1/21 8 Strategies for Tax Dispute Resolution WEBCAST, 8:30am-4:30pm 16WBCJA21B 275 375 Webcast TAX

1/22 8 Avoiding Tax Malpractice WEBCAST, 8:30am-4:30pm 16WBCJA22A 275 375 Webcast TAX

1/22 8 Effective Workpaper Techniques: Building a Better Workpaper WEB-CAST, 8:30am-4:30pm

16WBCJA22B 275 375 Webcast A&A

1/22 2 Profit Improvement: Use Process Analysis to Identify Opportunities WEBINAR, 9am-11am


1/22 8 Tax Considerations for Buying and Selling a Business WEBCAST, 8:30am-4:30pm

16WBCJA22C 275 375 Webcast TAX

1/25 2 KPI Dashboards - The New Financial Reporting Model WEBINAR, 10am-12pm

16WNCJA25A 79 94 Webinar MG

1/25 8 Stopping Fraud in Your Business WEBCAST, 8:30am-4:30pm 16WBCJA25A 275 375 Webcast A&A

1/26 2 Captive Insurance: An Effective Financial and Risk Management WEBI-NAR, 12pm-2pm


1/26 2 Cash Flow Forecasting: Helping Your Clients Plan Better for the Future WEBCAST, 10am-12pm

16WBAJA26A 79 109 Webcast PFP

1/26 8 Fraud and the CPA Profession WEBCAST, 8:30am-4pm 16WBCJA26A 275 375 Webcast A&A

1/26 2 Travel and Entertainment Expenses: Review and Update WEBINAR, 8am-10am

16WNCJA26B 79 94 Webinar TAX

1/27 8 Advising Clients of Social Security Benefits WEBCAST, 8:30am-4pm 16WBCJA27A 275 375 Webcast PFP

1/27 8 Business Valuation: A Review of the Essentials WEBCAST, 8:30am-4pm 16WBCJA27C 275 375 Webcast A&A

1/27 8 Fundamentals of Partnership Taxation WEBCAST, 8:30am-4pm 16WBCJA27B 275 375 Webcast TAX

1/27 2 Time To Get Serious About Information Security WEBINAR, 11am-1pm

16WNCJA27A 79 94 Webinar TEC

1/28 8 Audits of 401(k) Plans WEBCAST, 8:30am-4pm 16WBCJA28A 275 375 Webcast A&A

1/28 4 Social Security and Medicare: Maximizing Retirement Benefits WEB-CAST, 10am-2pm

16WBBJA28A 149 199 Webcast TAX

1/29 2 Beyond Traditional Budgeting: Reduce Work and Improve Control WEBINAR, 9am-11am

16WNCJA29A 79 94 Webinar MG

1/29 8 Construction Contractors: Special Tax and Accounting Considerations WEBCAST, 8:30am-4:30pm

16WBCJA29B 275 375 Webcast A&A

1/29 8 Fresh Start, Fair Value and Impairment Accounting WEBCAST, 8:30am-4:30pm

16WBCJA29A 275 375 Webcast A&A

1/29 2 Internet Security Tools for Accountants WEBINAR, 7am-9am 16WNCJA29B 79 94 Webinar TEC

1/30 2 Y Yellow Book: Heartburn Inducing Requirements SATURDAY WEBI-NAR, 7am-9am

16WNSJA30A 79 94 Webinar GNP

2/1 8 Y Applying the Uniform Guidance for Federal Awards in Your Single Audits WEBCAST, 7:30am-3:30pm

16WBBFE01A 249 345 -30 Webcast GNP

2/1 2 Excel Basic Series Part 1 - Design & Efficiency WEBINAR, 8am-10am 16WNCFE01A 79 94 Webinar TEC


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

There’s a better way to recharge Attend WSCPA Conferences


2016 Conferences

April 25-26 Governmental Accounting & Auditing Conference

May 9International Tax Conference

May 17 Health Care Conference

May 18 Women’s Leadership Summit

June 24 Washington State Tax Conference

August 2 Farm Tax Conference

November 2-3 Pacific Tax Institute

November 7 Accounting & Auditing Conference

November 14-15Pacific NW Construction Industry

November 17-18 Not-For-Profit Conference

December 9 Fraud Conference

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

Great topics - phenomenal speakers - opportunities too amazing for you to miss!

webcast available


Fees

Date CPE


Member Fee

Non- MemberFee


Facility Subject

# Type




2/1 2 Excel Basic Series Part 2 - Design & Formatting WEBINAR, 11am-1pm 16WNCFE01B 79 94 Webinar TEC

2/2 2 Why Do We Need Another Basis of Accounting - FRF for SMEs? WEBINAR, 8am-10am

16WNCFE02A 79 94 Webinar A&A

2/3 2 Cloud Accounting Software - Accountant's Program Review WEBINAR, 12pm-2pm

16WNCFE03A 79 94 Webinar TEC

2/4 2 ABC's of Building a Cloud Accounting Services Practice WEBINAR, 9am-11am


2/5 8 Reformatted Financial Statements 2015: Is the Endgame in Sight? WEBCAST, 8:30am-4pm

16WBCFE05A 275 375 Webcast A&A

2/8 8 Create Reports that Matter: Turn Information into Action WEBCAST, 8:30am-4pm

16WBCFE08A 275 375 Webcast MG

2/8 2 Excel Formula Expert Series Part 3 - Lookup & Reference WEBINAR, 7am-9am


2/8 2 Excel Formula Expert Series Part 4 - Financial, Stats & Math WEBINAR, 10am-12pm

16WNCFE08B 79 94 Webinar TEC

2/9 8 Y Cost Principles for State and Local Governments and Nonprofit Organizations WEBCAST, 8:30am-4pm

16WBCFE09A 275 375 Webcast GNP

2/9 2 How Will You Handle the New Revenue Recognition Standard? WEBI-NAR, 7am-9am


2/9 2 Spreadsheet Risk - Can it be Eliminated? WEBINAR, 9am-11am 16WNCFE09B 79 94 Webinar TEC

2/10 8 Y Single Audits: A Case Study Approach WEBCAST, 8:30am-4pm 16WBCFE10A 275 375 Webcast GNP

2/10 2 Small Business Health Insurance Reimbursement & Penalty WEBINAR, 8am-10am

16WNCFE10A 79 94 Webinar TAX


16WBAFE11A 39 59 Webcast SK

2/11 4 Compilation, Preparation, and Review Engagements Update WEBCAST, 10am-2pm

16WBBFE11A 149 199 Webcast A&A

2/11 8 Detecting Fraudulent Financial Reporting WEBCAST, 8:30am-4pm 16WBCFE11A 275 375 Webcast A&A

2/11 8 Enterprise Risk Management for Small and Medium-Sized Enterprises: Enhance Fraud Protection and Profitability in Your Organization WEB-CAST, 8:30am-4pm

16WBCFE11B 275 375 Webcast A&A

2/12 2 Creating Breakthrough Strategies in an Ever-Changing World WEBI-NAR, 9am-11am

16WNCFE12A 79 94 Webinar MG

2/12 8 Disclosure: The Key to Financial Statements WEBCAST, 8:30am-4:30pm 16WBCFE12A 275 375 Webcast A&A

2/12 8 Financial Statement Analysis for Managers WEBCAST, 8:30am-4pm 16WBCFE12B 275 375 Webcast A&A

2/12 2 Passive Activities: Helping Clients Survive the IRS’s Challenges WEBI-NAR, 10am-12pm

16WNCFE12B 79 94 Webinar TAX

2/16 2 Social Security and Spousal Benefits WEBINAR, 11am-1pm 16WNCFE16A 79 94 Webinar PFP

2/16 2 Social Security: Public Employee Issues: Social Security Research Tech-niques WEBINAR, 8am-10am

16WNCFE16B 79 94 Webinar TAX

2/17 2 Y 5 Elements of a Finding WEBINAR, 10am-12pm 16WNCFE17A 79 94 Webinar GNP

2/17 8 Documentation Requirements, Design and Reviewing Techniques of Workpapers WEBCAST, 8:30am-4pm


2/18 4 Financial Statement, Tax and Government Fraud WEBCAST, 1:00pm - 4:30pm


2/18 4 Forensic Accounting: Uncovering Schemes and Scams WEBCAST, 10am-2pm


2/18 4 Practical Guide to Accounting Fraud WEBCAST, 8:30am-12pm 16WBCFE18A 140 188 Webcast A&A

2/18 2 The Complex Area of Partnership Allocations - Properly Dividing Up the Items on the Form 1065 WEBINAR, 7am-9am

16WNCFE18A 79 94 Webinar TAX

2/19 8 Financial Modeling and Driver-Based Planning WEBCAST, 8:30am-4pm 16WBCFE19A 275 375 Webcast A&A

2/19 8 Private Company Reporting Options: More Changes Ahead WEBCAST, 8:30am-4pm



Fees

Date CPE


Member Fee

Non- MemberFee


Facility Subject

# Type






2/19 4 Risk, Cost, and Cash Management for Controllers and Financial Manag-ers WEBCAST, 10am-2pm

16WBBFE19A 149 199 Webcast MG

2/22 8 Audit Standards Update: Clarity Standards Overview WEBCAST, 8:30am-4:30pm


2/22 8 Corporate Governance, Fraud and Control: Setting the Strategy and Executing it Efficiently WEBCAST, 8:30am-4pm


2/22 2 Excel Formula Expert Series Part 5 - Debug & Troubleshoot WEBI-NAR, 10am-12pm


2/23 8 Audit Standards Update: Clarifying Risk Assessment WEBCAST, 8:30am-4:30pm



16WBAFE23A 79 109 Webcast PFP

2/23 2 Financial Infidelity and Divorce Strategies WEBINAR, 8am-10am 16WNCFE23A 79 94 Webinar CS

2/24 2 Excel Formula Expert Series Part 6 - Proofing & Auditing WEBINAR, 10am-12pm


2/24 8 Y Governmental and Nonprofit Annual Update WEBCAST, 8:30am-4pm 16WBCFE24A 275 375 Webcast GNP

2/24 4 Social Security and Medicare: Maximizing Retirement Benefits WEB-CAST, 10am-2pm

16WBBFE24A 149 199 Webcast TAX

2/25 2 Cloud Accounting Review Series - Systems Overview WEBINAR, 8am-10am


2/25 8 Y Interpreting The Yellow Book WEBCAST, 8:30am-4pm 16WBCFE25B 275 375 Webcast GNP

2/25 8 Key Ratio Analysis WEBCAST, 8:30am-4pm 16WBCFE25A 275 375 Webcast A&A

2/25 2 The Digital Office - The CPA Technology Toolkit WEBINAR, 11am-1pm 16WNCFE25B 79 94 Webinar TEC

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Fees

Date CPE


Member Fee

Non- MemberFee


Facility Subject

# Type




2/26 8 Top 10 Tools for CFOs to be More Effective Business Partners WEB-CAST, 8:30am-4pm

16WBCFE26A 275 375 Webcast MG

2/29 2 Cloud Accounting Practice Toolkit WEBINAR, 10am-12pm 16WNCFE29A 79 94 Webinar MG

2/29 4 Engagement Essentials: Preparation, Compilation, and Review of Finan-cial Statements WEBCAST, 7:30am-3:30pm


3/1 2 Financial Planning Strategies for Life Wealth Cycles WEBINAR, 10am-12pm

16WNCMR01A 79 94 Webinar PFP

3/2 2 Detecting and Preventing T&E Fraud WEBINAR, 10am-12pm 16WNCMR02A 79 94 Webinar A&A

3/3 4 Purchasing, Inventory, and Cash Disbursements: Common Frauds and Internal Controls WEBCAST, 10am-2pm

16WBBMR03A 149 199 Webcast A&A

3/3 2 What You Need to Know About the New AICPA PFP Standards WEBINAR, 11am-1pm

16WNCMR03A 79 94 Webinar PFP

3/7 2 IRS Representation: Key Strategies to Represent Your Clients WEBI-NAR, 11am-1pm

16WNCMR07A 79 94 Webinar TAX

3/7 8 Revenue: Present and Future WEBCAST, 8:30am-4:30pm 16WBCMR07A 275 375 Webcast A&A

3/9 2 1040 Tax Document Automation Systems Review WEBINAR, 12pm-2pm

16WNCMR09A 79 94 Webinar TEC

3/9 4 Controller’s Update: Today's Latest Trends WEBCAST, 10am-2pm 16WBBMR09A 149 199 Webcast MG

3/9 2 How Will You Handle the New Revenue Recognition Standard? WEBI-NAR, 7am-9am

16WNCMR09B 79 94 Webinar A&A

3/10 2 2015 Technology Update WEBINAR, 12pm-2pm 16WNCMR10A 79 94 Webinar TEC


16WBAMR10A 39 59 Webcast SK

3/10 2 Dealing with the Net Investment Income Tax and Additional Medicare Tax WEBINAR, 11am-1pm

16WNCMR10B 79 94 Webinar TAX

3/11 2 Cloud Systems - How Do I Know My Data is Safe and Secure? WEBI-NAR, 11am-1pm


3/14 2 Nuts & Bolts: Detecting & Deterring Fraud in Small Business WEBI-NAR, 12pm-2pm

16WNCMR14A 79 94 Webinar A&A

3/15 2 Asset Protection Strategies WEBINAR, 7am-9am 16WNCMR15A 79 94 Webinar PFP

3/15 8 Audits of State and Local Governments: What You Need to Know WEBCAST, 8:30am-4pm

16WBCMR15A 275 375 Webcast A&A

3/16 8 Y Basic Concepts of Governmental Accounting, Financial Reporting and Auditing WEBCAST, 8:30am-4pm

16WBCMR16A 275 375 Webcast GNP

3/16 2 Time To Get Serious About Information Security WEBINAR, 12pm-2pm


3/17 8 Cash and Credit Management WEBCAST, 8:30am-4pm 16WBCMR17A 275 375 Webcast A&A

3/17 4 Forensic Accounting: Uncovering Schemes & Scams WEBCAST, 10am-2pm


3/17 2 The Financial Manager's Role in Risk Analysis and Management WEBI-NAR, 11am-1pm

16WNCMR17A 79 94 Webinar A&A

3/18 8 GAAP Update WEBCAST, 8:30am-4pm 16WBCMR18A 275 375 Webcast A&A

3/18 2 Trust Income Issues —Uniform Principal and Income Act and Distrib-utable Net Income WEBINAR, 11am-1pm


3/21 2 Recent Tax Developments which Could Affect Your Company WEBI-NAR, 11am-1pm


3/21 4 Risk, Cost, and Cash Management for Controllers and Financial Manag-ers WEBCAST, 10am-2pm

16WBBMR21A 149 199 Webcast MG

3/22 2 Y 5 Elements of a Finding WEBINAR, 10am-12pm 16WNCMR22A 79 94 Webinar GNP


16WBAMR22A 79 109 Webcast PFP

3/22 4 The New Group Audit Standard: Understanding the Essentials WEB-CAST, 1pm-4pm

16WBCMR22A 140 188 Webcast A&A


Fees

Date CPE


Member Fee

Non- MemberFee


Facility Subject

# Type




3/23 2 Affordable Care Act Update: What Your Company Needs to Know! WEBINAR, 8am-10am


3/23 8 Controls, Risks and Financial Reporting WEBCAST, 8:30am-4pm 16WBCMR23A 275 375 Webcast A&A

3/24 8 Multi-Task Role of the CFO/Controller WEBCAST, 8:30am-4pm 16WBCMR24A 275 375 Webcast MG

3/24 2 Retirement Plans in the Closely Held Business - A Tax Planning Per-spective WEBINAR, 9am-11am


3/24 4 Statement of Cash Flows: Preparation, Presentation, and Use WEB-CAST, 10am-2pm


3/25 8 Accounting Analysis Basics WEBCAST, 8:30am-4pm 16WBCMR25A 275 375 Webcast A&A

3/25 2 Y Fraud and Abuse in Nonprofits WEBINAR, 11am-1pm 16WNCMR25A 79 94 Webinar GNP

3/28 2 Expense Management via the Cloud WEBINAR, 10am-12pm 16WNCMR28A 79 94 Webinar TEC

3/30 2 Cash Management Techniques, Systems and Solutions WEBINAR, 9am-11am

16WNCMR30A 79 94 Webinar MG

3/30 4 The Most Common Financial Statement and Asset Fraud Schemes: How to Detect and Prevent Them WEBCAST, 10am-2pm


3/31 4 Financial Forecasting: Planning for Success WEBCAST, 10am-2pm 16WBBMR31A 149 199 Webcast MG

3/31 2 The Digital Office - The CPA Technology Toolkit WEBINAR, 12pm-2pm 16WNCMR31A 79 94 Webinar TEC

4/1 2 Excel Basic Series Part 1 - Design & Efficiency WEBINAR, 7am-9am 16WNCAP01A 79 94 Webinar TEC

4/1 2 Excel Basic Series Part 2 - Design & Formatting WEBINAR, 10am-12pm

16WNCAP01B 79 94 Webinar TEC

4/4 2 ABC's of Building a Cloud Accounting Services Practice WEBINAR, 12pm-2pm

16WNCAP04A 79 94 Webinar TEC

4/5 2 6 Creativity for Accountants WEBINAR, 11am-1pm 16WNCAP05A 79 94 Webinar PD

4/6 2 Guide to Email, Record Retention, Destruction WEBINAR, 12pm-2pm 16WNCAP06A 79 94 Webinar TEC

4/6 4 New FASB Developments for Business & Industry WEBCAST, 10am-2pm

16WBBAP06A 149 199 Webcast A&A

4/8 2 15 Best Practices in Budgeting WEBINAR, 8am-10am 16WNCAP08A 79 94 Webinar MG

4/8 8 Internal Control: Your First Defense Against Errors and Fraud WEB-CAST, 8:30am-4:30pm

16WBCAP08A 275 375 Webcast A&A

4/8 2 What’s New in A & A? WEBINAR, 11am-1pm 16WNCAP08B 79 94 Webinar A&A

4/11 8 Revenue Recognition: Mastering the New FASB Requirements WEB-CAST, 7:30am-3:30pm

16WBBAP11A 249 345 -30 Webcast A&A

4/11 2 6 Strategic Skills for CFOs WEBINAR, 7am-9am 16WNCAP11A 79 94 Webinar MG

4/13 2 QuickBooks – Best Practices for Accountants WEBINAR, 10am-12pm 16WNCAP13A 79 94 Webinar TEC

4/14 2 Excel Formula Expert Series Part 4 - Financial, Stats & Math WEBINAR, 7am-9am


4/15 2 Creating Breakthrough Strategies in an Ever-Changing World WEBI-NAR, 11am-1pm

16WNCAP15A 79 94 Webinar MG

www.wscpa.org/cpexpress


Fees

Date CPE


Member Fee

Non- MemberFee


Facility Subject

# Type




New CPE programs are added regularly to the online catalog:

www.wscpa.org/CPE/catalog

Questions? Need assistance finding a CPE program? Call (800) 272-8273 (Toll-free in WA)

or (425) 644-4800.

4/18 8 Audits of 401(k) Plans WEBCAST, 7:30am-3:30pm 16WBBAP18A 249 345 -30 Webcast A&A

4/18 2 Captive Insurance: An Effective Financial and Risk Management WEBI-NAR, 8am-10am

16WNCAP18A 79 94 Webinar TAX

4/18 8 Y Cost Principles for State and Local Governments and Nonprofit Organizations WEBCAST, 8:30am-4pm

16WBCAP18A 275 375 Webcast GNP

4/19 8 Accounting and Auditing Update WEBCAST, 8:30am-4:30pm 16WBCAP19A 275 375 Webcast A&A

4/19 2 Capital Gains Tax Strategies for Advanced Transactions WEBINAR, 11am-1pm

16WNCAP19A 79 94 Webinar TAX

4/19 2 Y Single Audit Primer and Update WEBINAR, 8am-10am 16WNCAP19B 79 94 Webinar GNP

4/20 8 Other Comprehensive Basis of Accounting Fundamentals WEBCAST, 8:30am-4pm


4/20 2 6 Staff Retention: Why Your Best People Leave and How to Prevent It WEBINAR, 9am-11am


4/21 8 Y Administrative Rules for Federal Grants WEBCAST, 8:30am-4pm 16WBCAP21A 275 375 Webcast GNP

4/22 4 Analyzing a Company's Financial Statement WEBCAST, 10am-2pm 16WBBAP22A 149 199 Webcast A&A

4/22 2 Cloud Accounting Review Series - Systems Overview WEBINAR, 11am-1pm



16WNCAP22B 79 94 Webinar A&A

4/25 2 Deceit, Lies and Embezzlement: How I Stole $350,000 WEBINAR, 8am-10am

16WNCAP25A 79 94 Webinar A&A

4/25 8 Y GASB Basic Financial Statements for State and Local Governments WEBCAST, 8:30am-4:30pm


4/26 2 6 Critical Thinking Skills for Finance and Accounting Professionals WEBI-NAR, 9am-11am

16WNCAP26A 79 94 Webinar PD

4/26 8 Government Pension Accounting and Financial Reporting WEBCAST, 8:30am-4:30pm


4/26 2 Social Security: Annual Earnings Test & Taxability of Benefits WEBINAR, 8am-10am

16WNCAP26B 79 94 Webinar TAX

4/26 2 Social Security: Public Employee Issues: Social Security Research Tech-niques WEBINAR, 11am-1pm

16WNCAP26C 79 94 Webinar TAX

4/27 8 Y Frequent Frauds Found in Governments and Not-for-Profits WEB-CAST, 8:30am-4:30pm


4/27 2 Raising Financing: Start-ups, Non-Profits and Growing Entities WEBI-NAR, 9am-11am


4/28 8 Y Interpreting The Yellow Book WEBCAST, 8:30am-4pm 16WBCAP28A 275 375 Webcast GNP

4/29 2 Cloud Systems - How Do I Know My Data is Safe and Secure? WEBI-NAR, 12pm-2pm


4/30 4 Accounting and Auditing Update WEBCAST, 10am-2pm 16WBBAP28A 149 199 Webcast A&A


Register at www.wscpa.org/cpe/catalog REGISTRATION

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

Code Title Date City Fee1

3

Register online with credit card at www.wscpa.org/cpe/catalog or:

Questions? E-mail [email protected] or call the WSCPA.

2

2

• Call (425) 644-4800 or (800) 272-8273 (toll-free in Washington)

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

• Mail form with check to WSCPA, 902 140th Ave NE, Bellevue, WA 98005-3480


CLASSIFIED ADS

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

OFFICE SPACEExecutive Office in Downtown Vancouver, WA Executive office at 15th & Columbia conveniently located near the courthouse and post office. It’s the perfect space for your professional business at $750/month. Includes: Office furniture-ready for you to step in and go; Office equipment-printer, fax, copier available; Utilities; WiFi/Internet access, Shared reception with local CPA firm; Shared kitchen; Shared conference room; Undercover visitor parking. Available December 2015. For appoint-ment, call 360-892-4348.

MERGERS & SALESThree Seattle Tax Practices for Sale. Three well established Seattle tax and accounting practices for sale. The firms, which are separate practices but share facili-ties, want to begin the transition into retirement within the next 1-3 years. The practices are located in lower Queen Anne. The firms together gross approximately $600,000. The revenues come from both individual and business tax work and also includes some non-profits and A & A work. All of the firms use Creative Solutions for their tax preparation and one of the firms uses CS for accounting and TB work. All three firms have been in business 25 years or more, enjoy an excellent repu-tation and have long-term clients. The CPA firms are offered separately and/or together over a period of time. All of the owners will be available to assist during the transition. Please contact us at [email protected]

Considering Selling Your Practice? Consider all your options. We do the work. Confidential. We have buyers actively seeking practices. Call Mark Hause at (877) 345-7722 or visit our website at www.accounting-practicesales.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

PRACTICES FOR SALE

VOLUNTEER OPPORTUNITIESThe following organizations need a CPA to serve on the board of directors and/or provide other guidance on financial matters. Learn more about these, and others organizations that need your help, under Volunteer opportunities for CPAs, at www.wscpa.org/more/marketing-to-cpas

Contact Mark Hause at Accounting Practice Sales by e-mail at [email protected] or call (877) 345-7722 for more information on the following practices:

(WA 1096) Marysville CPA Tax Practice for Sale: This CPA practice that provides quality tax services for many loyal clients is for sale. This firm is the type of practice many seek with a high percentage of the annual revenues from the preparation of income tax returns. The firm’s revenue dollars by category of service are 94% income tax and 6% write up. The practice, with a great bottom line, is the right opportunity for any accountant ready to start their own firm, take a small firm to the next level, or a nearby firm seeking to add a book of business to an existing practice.

SOLD - (WA 1099) Spokane CPA Tax Practice for Sale: This CPA firm with a professional service mix that provides solid year round revenues is for sale. The firm’s revenue stream is composed of a suite of professional services that is 42% income tax and 58% write up services. This revenue stream is the product of a client base that actively refers new business. The owner’s and client(s) efforts have produced double digit growth in fees for the last two years. With an excellent staff to assist in transition and solid momentum, the practice is the perfect size and opportunity for any accountant or firm looking for a solid addition in building their practice.

(WA 1100) Poulsbo EA Tax Practice for Sale: This tax centered EA practice is for sale. The firm generates 77% of revenues from a tax practice with just enough write up work to balance out the year. The fee structure is excellent for individual returns with the average being equal or above most similar sized firms. The practice takes a proactive approach with clients to provide advice and counsel throughout the year rather than only during tax season. The result is an extremely loyal group of clients who actively refer clients seeking the personal touch. This firm is the perfect husband/wife opportunity or for buyers seeking a tax centered practice with the hard work accomplished in building a practice.

(WA 1101) Bellingham/Ferndale-Whatcom County CPA Tax Practice for Sale: This well-managed CPA tax centric practice is for sale. The firm is filled with clients that return year after year and produce a net cash flow that exceeds 50% of revenues. The revenues are 87% income tax and the balance is write up and consulting. With an excellent staff providing solid backup, the firm offers ample opportunity for the expansion of services consistent with the abilities and interest of the new owner. Whether looking for your first practice or a highly profitable addition to an existing firm, this practice provides ample challenge and reward.

(WA 1102) Seattle CPA Tax Practice for Sale: This CPA firm is a tax practice that specializes in the commercial fishing industry. The firm has no write up work electing to focus on rendering income tax services to the clients of the practice. The next attribute is the overall average of fees equaling $879 per return which creates a great net cash flow. Last but by no means least is a tax practice without the 4-15 crunch. The firm extends many of the returns with the result being that 45% of the annual billable time is performed in the time period from June to October. This practice with all these elements mentioned including a great staff is the kind professionals actively seek and rarely find. All of this without the really difficult tax season stresses that push the staff and owner to the limit.

(WA 1095) Clallam County/Central Olympic Peninsula EA Tax Practice for Sale: This Enrolled Agent practice is well balanced with a tax practice that produces approx. 58% of annual revenues and write-up services bring in the rest. The firm has an excellent location that promotes a community awareness of its services due to the high daily traffic count. In addition, the practice has many loyal clients who annually refer their friends and produces a net cash flow to owner that is head and shoulders above the norm. This practice is set for any buyer to continue the success of the past under new ownership.

BirdNote – new Center for Justice – new Helping Link-Mot Dau Noi – new Kent Little League – new School of Teaching ESL – new South of the Sound Community Farm Land Trust – new Washington State Animal Response Team – new

SOLD - (WA 1094) Vancouver CPA Practice for Sale: This CPA practice revenues are generated primarily by a tax practice with a strong fee structure. The revenue dollars are 86% income tax and the balance consists of accounting, consulting, and reviews/compilations. A unique characteristic of this practice is the amount of business tax work. The business returns generate more than half of all the income tax fees generated by the firm. Further, the firm’s clients are in need of additional services that any buyer will have ample opportunity to capitalize on to grow the book of business. This practice fits a multitude of buyers seeking a timely acquisition of a well-managed quality practice.

(WA 1093) Vancouver CPA Practice for Sale: This CPA tax practice for sale is well balanced with a tax practice of both business and individual returns along with auditing, estates/trusts, and non-profits to round out the client mix. The professional services by percentage are: Business 43%, Individual 46%, Auditing 2%, Non-Profits 6% and Estates/Trusts 3%. The firm has an excellent staff with most with the firm for at least 18 years. In all its years, the firm has worked to be an excellent community citizen with involvement in any number of community and non-profit organizations. The firm’s citizenship has created a significant foot print in the community that often results in it being the referred choice. This firm is uniquely suited for any firm seeking to expand a client base or a firm looking to enter the Vancouver market.

(WA 1092) Kittitas County EA Tax Practice for Sale: This well-established Enrolled Agent practice with remark-able balance in professional fees is for sale. The firm has two great books of business with tax and write-up revenues being approximately equal and a small amount of consulting making up the balance. The revenue stream provides great balance and great cash flow through the year. The firm also has great momentum with revenue increasing in double digits for the last two years. This firm fits a number of buyers who are looking for an opportunity to enjoy the fruits of their labor.

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

SOLD - (WA 1089) Bellingham CPA Practice For Sale: This CPA firm is almost 100% a tax practice with write-up only consisting of approx. 6% of gross receipts. The practice is run very efficiently and has a net cash flow percentage that is excellent. The year over year revenues are solid with this stable group of tax clients providing steady income. The size and profitability of this practice make it attractive to any number of buyers looking to grow a firm with immediate possession possible.

(WA 1073) Island County EA Tax Practice for Sale: This well-established Enrolled Agent practice is for sale. The firm is well balanced with a tax practice that produces 71% of the firm’s revenue with write-up generating the remainder of the income. The practice is well positioned for future growth due to having a solid staff serving long term clients. The seller is retiring but will be available to assist in transition. For any firm looking for a satellite office, an existing practice wishing to branch out, or an individual who has aspirations of getting out on their own, this practice is an excellent choice.

SOLD

SOLD

SOLD


MEMBER PROFILEMEMBER PROFILE

Employer: Self Employed, J. Bart Bradshaw CPA, PLLC

Current position: Owner

Lives in: Winthrop, Washington (originally from Ogden, Utah)

A little about my firm: Small firm, about 600 clients, 5 employees, we do state and federal tax, bookkeeping, consulting, payroll, etc.

What I enjoy most about my job: Working with new business clients, helping them get started

If I weren’t an accountant, I would be: A cowboy, but being a cowboy doesn’t pay enough

Highlights of my career: Moving to a small town and starting my firm 30 years ago

I aspire to: Be fair and have integrity

Latest book I have read: Killing Lincoln

Favorite television show: The Good Wife

Favorite movies: Zoro, Tommy Boy

Favorite vacation spot: Tahiti

Favoite song: My Little Girl by Tim McGraw ... at my daughter’s wedding

Favorite Food: BLT

Hobbies: Horses (6)

My idea of a great weekend: Waterskiing or Horse riding

I volunteer: At church

If I could have dinner with anyone, I would choose: My wife

Best advice I’ve ever received: From my father, “it takes hard work, a little luck, frugal practices and the grace of God to make it in life”

People would be surprised to know this: My wife and I have 8 children—7 with college degrees, the last one is still working on it

Member since: 1983

J. Bart Bradshaw, CPA

MEMBER PROFILE

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Documents

WashingtonCPA 2016 Winter