KSCPA News http://www.kscpa.org/about/news News from KSCPA en-us Copyright 2015, KSCPA The KSCPA Hosts Bill Balhoff, Immediate Past Chair AICPA, at KU and K-State http://www.kscpa.org/about/news/774-the_kscpa_hosts_bill_balhoff_immediate_past_chair http://www.kscpa.org/about/news/774-the_kscpa_hosts_bill_balhoff_immediate_past_chair <h2 style="text-align: center;">The University of Kansas</h2> <p>On February 23, 2015, the KSCPA hosted Bill Balhoff at The University of Kansas for the presentation <strong><em>Looking Forward: Insights Into the Future of the Profession. </em></strong>KU School of Business accounting students and others were invited to join Bill for an evening reception and listen as he shared insights into the future of learning, emerging issues in the profession, succession planning, and young professional opportunities and demands. Note in the photo below students who are delightfully looking forward to becoming CPAs!</p> <p><img class="justified_center" style="width: 533px; height: 195px; margin-right: auto; margin-left: auto; display: block;" src="/writable/images/News/2015NewsImages/KUKSUBallhoff/03_ku-001.jpg" alt="KU School of Business" width="749" height="247" /></p> <p><img class="justified_center" style="width: 338px; height: 375px; margin-right: auto; margin-left: auto; display: block;" src="/writable/images/News/2015NewsImages/KUKSUBallhoff/04_ku-001.jpg" alt="KU School of Business" width="484" height="498" /></p> <p><iframe src="http://cdn.embedly.com/widgets/media.html?src=http%3A%2F%2Fwww.flickr.com%2Fapps%2Fslideshow%2Fshow.swf%3Fv%3D107931&fv=v%3D107931%26offsite%3Dtrue%26lang%3Den-us%26page_show_url%3D%252Fphotos%252F58224886%40N02%252Fsets%252F72157648749614653%252Fshow%252F%26page_show_back_url%3D%252Fphotos%252F58224886%40N02%252Fsets%252F72157648749614653%252F%26set_id%3D72157648749614653%26jump_to%3D&url=https%3A%2F%2Fwww.flickr.com%2Fphotos%2F58224886%40N02%2Fsets%2F72157648749614653%2F&image=https%3A%2F%2Ffarm9.staticflickr.com%2F8619%2F16458547687_ab5cb52355_z.jpg&type=application%2Fx-shockwave-flash&schema=flickr" width="420" height="260" allowfullscreen="" frameborder="0" style="margin-right: auto; margin-left: auto; display: block;"></iframe></p> <h2 style="text-align: center;">Kansas State University</h2> <p>On February 24, 2015, Bill visited Kansas State University for two special events. First, the K-State accounting faculty sat down with Bill and members of the KSCPA Board of Directors and Executive Committee for an intimate luncheon, where the focus was on the future of learning.</p> <p><img class="justified_center" style="width: 557px; height: 258px; margin-right: auto; margin-left: auto; display: block;" src="/writable/images/News/2015NewsImages/KUKSUBallhoff/02_ksu-001.jpg" alt="KSU" width="748" height="361" /></p> <p>Following lunch, accounting students and faculty joined together for Bill's presentation on the <em><strong>Top Five Mistakes Young Professionals Make.</strong> </em>He offered his advice on earning a CPA, understanding your values, being yourself, pushing yourself out of your comfort zone, and the advantages of engaging with associations and organizations outside your workplace.</p> <p><img class="justified_center" style="width: 548px; height: 230px; margin-right: auto; margin-left: auto; display: block;" src="/writable/images/News/2015NewsImages/KUKSUBallhoff/09_ksu-001.jpg" alt="KSU" width="749" height="330" /><img class="justified_center" style="width: 267px; height: 409px; margin-right: auto; margin-left: auto; display: block;" src="/writable/images/News/2015NewsImages/KUKSUBallhoff/04_ksu-001.jpg" alt="KSU" width="302" height="499" /></p> <p><iframe src="http://cdn.embedly.com/widgets/media.html?src=http%3A%2F%2Fwww.flickr.com%2Fapps%2Fslideshow%2Fshow.swf%3Fv%3D107931&fv=v%3D107931%26offsite%3Dtrue%26lang%3Den-us%26page_show_url%3D%252Fphotos%252F58224886%40N02%252Fsets%252F72157650614343767%252Fshow%252F%26page_show_back_url%3D%252Fphotos%252F58224886%40N02%252Fsets%252F72157650614343767%252F%26set_id%3D72157650614343767%26jump_to%3D&url=https%3A%2F%2Fwww.flickr.com%2Fphotos%2F58224886%40N02%2Fsets%2F72157650614343767%2F&image=https%3A%2F%2Ffarm9.staticflickr.com%2F8612%2F16664875202_89a27b6fd4_z.jpg&type=application%2Fx-shockwave-flash&schema=flickr" width="420" height="260" allowfullscreen="" frameborder="0" style="margin-right: auto; margin-left: auto; display: block;"></iframe></p> <p>Overall, the KSCPA reached 250 students and faculty, and provided the opportunity to listen to and engage with a top leader in the CPA profession. All attendees received a copy of the February edition of <strong><em>Skyscapes</em></strong>, focusing on independent colleges and universities, as well as <em><strong>Why a CPA?</strong></em> business cards. The KSCPA is dedicated to growing the future of the profession, and will continue to reach out to our Kansas students interested in accounting with scholarships, grants, resources, networking, and informational opportunities.</p> Fri, 27 Feb 2015 12:00:00 EDT FATCA Audits: Are You and Your Clients Ready? Complimentary Web Seminar http://www.kscpa.org/about/news/773-fatca_audits_are_you_and_your_clients_ready http://www.kscpa.org/about/news/773-fatca_audits_are_you_and_your_clients_ready <p>This year, the IRS will begin auditing companies for compliance with the Foreign Account Tax Compliance Act (FATCA). Failure to comply with the new FATCA reporting requirements will result in the IRS imposing a 30% withholding tax on U.S. payments to non-compliant Foreign Financial Institutions (FFIs).</p> <p>What’s even more troubling – companies that do not accurately deduct and remit FATCA withholding will be liable for 100% of the amount not withheld as well as related interest and penalties.</p> <p>Join tax experts, Silvia Aguirre and Matt MacNeil from Avalara’s CertCapture business unit, to discuss what you need to do to comply with FATCA withholding requirements before an IRS audit.</p> <p><strong>You will learn:</strong></p> <ul> <li>FATCA withholding rules that will impact your business this year </li> <li>What the IRS will look for in a FATCA audit </li> <li>What you need to do now to be compliant and reduce risks. </li> </ul> <p><a href="http://pages.marketing.accountingtoday.com/20150304_act_avalara_ws_lp.html">Register today</a>, and after the webinar, you will receive a new whitepaper entitled “<strong>Five Ways FATCA Impacts Your Business in 2015</strong>” to help you better understand the new withholding requirements in FATCA.</p> Fri, 27 Feb 2015 12:00:00 EDT Think You Don't Owe Sales Tax? Think Again. http://www.kscpa.org/about/news/772-think_you_dont_owe_sales_tax_think_again http://www.kscpa.org/about/news/772-think_you_dont_owe_sales_tax_think_again <div class="page" title="Page 1"> <h2>Think You Don't Owe Sales Tax? Think Again.</h2> <p>By Avalara</p> <p><span>When it comes to compliance, ignorance definitely isn’t bliss. Proving you don’t need to collect sales and use tax can often be more difficult and time-consuming that proving you do. Should the state express concern about exempt sales, claiming “I didn’t think I owed sales tax,” likely won’t save you from an audit. A smarter strategy is to be aware of where you might have tax compliance obligations and how it impacts your business. Here are four of the most common:</span></p> <p><span>1. Exempt Sales </span></p> <p><span>Even if you don’t sell direct to consumers, you may still be part of the transaction through a supply chain. As such, it is your job to reassure the state that you are exempt from collecting tax. This proof is typically in the form of an Exemption Certificate. Depending on your business, you may be responsible for both issuing and collecting certificates. The proper application of each exemption to each sale is critical. Without proper documentation, auditors could determine that you understated or improperly exempted taxable sales and that could cost you.</span></p> <p><span>2. Use Tax </span></p> <p><span>Use taxes are meant to minimize unfair competition between sales made in and out-of-state. Knowing when they are owed can be tricky. If your business purchases goods from another com- pany within the same state, sales tax is owed. If your company buys goods outside your state or online, you don’t pay sales tax, but you are required to pay consumer use tax for the storage, use, or consumption of tangible personal property (TPP). Companies are responsible for self-assessing when use tax is accrued and to self-report on tax liabilities.</span></p> <p><span>3. Online Sales </span></p> <p><span>With “Amazon” tax laws yet to pass in the legislature, many companies think they don’t owe sales tax if they sell online. That’s often not the case. Many states are now requiring online sellers to collect sales tax. The way you deliver goods sold online, such as drop shippers, supply chain and online affiliates can also impact your tax obligation and trigger nexus for your business.</span></p> <p><span>4. Sourcing Rules </span></p> <p><span>Sourcing rules govern which state dictates the taxability of a particular sale. Intra-state sales (those made within a single state) follow the taxing rules for the seller’s location or “ship from” address (origin sourcing). Conversely, sales between states (inter-state) bases taxability on the customer’s location or “ship-to” address (destination sourcing). If you do business in multiple states or operate as part of a supply chain, this can get complex quickly. </span></p> <p><span>It’s highly likely that sales tax touches your business in some way, even if it’s just to prove you don’t owe it. Failing to do so, could cost you. The average sales tax audit now costs more than $90,000. Automation is a smart, easy and affordable way to ensure you’re in compliance and protect your business against risk—whether you need to collect sales tax or not.</span></p> <div class="page" title="Page 2"> <div class="section"> <div class="layoutArea"> <div class="column"> <p><span>About <strong>Avalara</strong><br /> A privately held company, Avalara was founded by a team of tax and software industry veterans to fulfill a vision of delivering an affordable, scalable sales tax solution. Thus making what was not economically feasible in the past for mid-sized business not only affordable, but more accurate as well — all with the latest and most innovative technology available. From Bainbridge Island, close to Seattle, Avalara’s knowledgeable staff works tirelessly to help customers put the hassles of sales tax compliance out of mind. Avalara’s mission is to transform the tax process for customers by creating cost-effective state-of-the-art solutions. The company does so through integrated on-demand, Web-based software services that provide transparent transactions, accurate tax compliance, painless administration and effortless reporting. </span></p> </div> </div> </div> </div> </div> <div class="page" title="Page 2"> </div> Fri, 27 Feb 2015 12:00:00 EDT How President Obama’s 2015 Budget Proposal May Affect Your Clients http://www.kscpa.org/about/news/771-how_president_obamas_2015_budget_proposal_may http://www.kscpa.org/about/news/771-how_president_obamas_2015_budget_proposal_may <h2 class="x_MsoNormalCxSpMiddle" style="text-align: center;">How President Obama’s 2015 Budget Proposal</h2> <h2 class="x_MsoNormalCxSpMiddle" style="text-align: center;">May Affect Your Clients </h2> <p><a href="https://vimeo.com/120017598" target="_blank"><span style="line-height: 1.5;">2015 Proposed Budget: Pension & Retirement Changes</span></a> - Watch Jack Surgent sum up the proposed changes to pension and retirement plans in the proposed budget.</p> <p class="x_MsoNormalCxSpMiddle"><a href="https://vimeo.com/120017597" target="_blank"><span style="line-height: 1.5;">2015 Proposed Budget: Small Business Implications</span></a> - A recap of the small business tax issues included in the proposed budget.</p> <p class="x_MsoNormalCxSpMiddle"><a href="https://vimeo.com/120017596" target="_blank"><span style="line-height: 1.5;">2015 Proposed Budget: Individual Tax Proposals</span></a> - How individual tax rates would change under the proposed new budget.</p> <p class="x_MsoNormalCxSpMiddle"><a href="https://vimeo.com/120017229" target="_blank"><span style="line-height: 1.5;">2015 Proposed Budget: Estate Tax Changes</span></a> - A summary of how proposals would affect estate tax planning.</p> Fri, 27 Feb 2015 12:00:00 EDT 2015 Depreciation Key Facts & Figures Card http://www.kscpa.org/about/news/770-2015_depreciation_key_facts_figures_card http://www.kscpa.org/about/news/770-2015_depreciation_key_facts_figures_card <p align="left"><span><strong><strong>Depreciation Key Facts & Figures Card</strong></strong></span></p> <p class="x_MsoNormal"><span lang="EN">This valuable tool is a highly beneficial resource during tax season. It </span>provides current depreciation rate information in one handy, easy-to-use reference:</p> <p class="x_MsoNormal"><span>·</span><span> </span><span>Standard Mileage Rates</span></p> <p class="x_MsoNormal"><span>·</span><span> </span><span>Declining Balance Rates</span></p> <p class="x_MsoNormal"><span>·</span><span> </span><span>Bonus Depreciation Rates</span></p> <p class="x_MsoNormal"><span>·</span><span> </span><span>Code Sec. 179 Expensing</span></p> <p class="x_MsoNormal"><span>·</span><span> </span><span>Depreciation Periods for Common Assets and Businesses</span></p> <p class="x_MsoNormal"><span>·</span><span> </span><span>Depreciation Recapture</span></p> <p class="x_MsoNormal"><a class="file pdf" href="/writable/files/2015/cch-depreciation-card-2015.pdf">CCH Depreciation Card 2015</a></p> Fri, 27 Feb 2015 12:00:00 EDT Skyscapes Snapshot February 27, 2015 http://www.kscpa.org/about/news/769-skyscapes_snapshot_february_27_2015 http://www.kscpa.org/about/news/769-skyscapes_snapshot_february_27_2015 <p><a class="file pdf" href="/writable/files/2015/skyscapes_snapshot_02_27_15.pdf">Full Interactive Skyscapes Snapshot</a></p> <p><img class="justified_center" style="margin-right: auto; margin-left: auto; display: block;" src="/writable/images/News/2015NewsImages/skyscapes_snapshot_02_27_15.jpg" alt="Skyscapes Snapshot" /></p> Fri, 27 Feb 2015 12:00:00 EDT Tabor College Students Visit the Statehouse http://www.kscpa.org/about/news/768-tabor_college_students_visit_the_statehouse http://www.kscpa.org/about/news/768-tabor_college_students_visit_the_statehouse <p dir="LTR" align="JUSTIFY"><img class="justified_center" style="margin-right: auto; margin-left: auto; display: block;" src="/writable/images/News/2015NewsImages/TaborCapitol/secretary_clark_and_tabor_students.jpg" alt="Secretary Clark and Tabor Students" width="350" height="225" />On February 23, 2015 the KSCPA hosted Tabor College business students for a day at the statehouse. The group arrived at 10:00 and went to the Capitol. After observing the House of Representatives, the group met with Secretary of Administration Jim Clark, CPA. Secretary Clark described his responsibilities as Secretary of Administration and how he accepted the position.</p> <p dir="LTR" align="JUSTIFY"><img class="justified_right" style="float: right;" src="/writable/images/News/2015NewsImages/TaborCapitol/representative_rhodes_with_tabor_students.jpg" alt="Rep Rhoades" width="257" height="285" />After meeting with Jim, the group meet with Representative Marc Rhoades. In that meeting, Representative Rhoades described the iniatives that he is working on in the 2015 session, including a Kansas Reading Iniative that he has been working on for several years.</p> <p dir="LTR" align="JUSTIFY">Following their meeting with Representative Rhoades, the group took a tour of the Capitol dome. The tour took the group up 296 stairs and outside the top of the Capitol. The tour gave the group a unique look at the restoration of the Statehouse, as well as the architecture of the dome itself.</p> <p>Lastly, the group met with Senator Les Donovan, chair of the Senate Taxation Committee. Senator Donovan shared the bills that his committee is working on. He also discussed the importance of CPAs in the community.</p> <p> </p> Wed, 25 Feb 2015 12:00:00 EDT Privately Speaking – Insights on Private Company Growth by KPMG http://www.kscpa.org/about/news/767-privately_speaking-insights_on_private_company http://www.kscpa.org/about/news/767-privately_speaking-insights_on_private_company <div class="page" title="Page 2"> <div class="section"> <div class="layoutArea"> <div class="column"> <h2 style="text-align: center;">Privately Speaking – Insights on Private Company Growth</h2> <h2 style="text-align: center;">by KPMG</h2> <p><span>The </span><span>Privately Speaking </span><span>series investigates the growth appetite and plans of private companies, based on quantitative survey data, interviews with private CEOs, </span><span>and perspectives of KPMG’s private markets specialists. This issue examines private companies’ current growth opportunities and challenges, and provides some strategies that may help to drive profitable growth. </span></p> <p><a class="file pdf" href="/writable/files/2015/kpmg_privately_speaking_-_issue_1_powering_profitable_growth.pdf">Powering Profitable Growth</a></p> </div> </div> </div> </div> Fri, 20 Feb 2015 12:00:00 EDT Seven Keys to "Five Star Client Service" http://www.kscpa.org/about/news/766-seven_keys_to_five_star_client_service http://www.kscpa.org/about/news/766-seven_keys_to_five_star_client_service <p><span>By </span><strong>Jon Hubbard</strong><span>, Boomer Consulting, Inc.</span></p> <p>Every firm understands the importance of client service. However, most firms struggle with establishing a consistent level of client service among all levels of the firm. Why is this? I have asked many Managing Partners this question and the most common answer I hear is that the firm lacks a culture of providing great client service. I then follow up with another question, "how would you describe a firm that has a culture of client service?” Most answers are similar to:</p> <ul> <li>Everyone in the firm understands what great client service is</li> <li>Everyone in the firm talks about client service</li> <li>Everyone in the firm understands the client’s needs and puts the client first</li> </ul> <p>These answers are correct and I would suggest that there are many additional correct answers. I then ask, "okay, so how do you become that type of firm?” The most common answer is, "that’s been our problem, I don’t know.”</p> <p>I would submit that most firms struggle with consistently providing a high-level of client service because they are focusing on external clients first and not internal clients. Internal clients are those within your firm. Those you work with every day and have thousands of conversations with each year. If your internal team is not providing a high-level of client service to one another, how could you expect them to consistently provide a high-level of client service to the firm’s external clients?</p> <p>Only when you first focus on internal client service will your culture begin to change. Your entire firm needs to understand the concept of internal client service. There needs to be a common language and understanding of what it means to provide a high-level of client service to one another.</p> <p>As part of the <a href="http://boomer.site-ym.com/?page=HomeFiveStar">Five Star Client Service</a> program, we walk firms through the 7 keys to creating a Five Star Client Service culture. The principles listed below are based on the same principles Five Star hotels and restaurants use to achieve high-quality service. If your firm focuses on the 7 areas below, you will begin to see a cultural shift happen and your firm’s level of client service will rise.</p> <h3>#1 – Connecting (Relationships)</h3> <p><em>"Meaningful relationships are developed through ongoing communication, which fosters trust, care and confidence. Proactive connecting builds relationships.”</em></p> <p>Building a strong internal team within your firm requires you to build strong working relationships through open and honest communication. The best way to start building strong, professional relationships is to practice the principles 2-7 listed below. </p> <h3>#2 - Taking the Order</h3> <p><em>"Expected results are created in the mind before they are produced.”</em></p> <p>Every successful job or project begins with proper preparation and communication. Your firm should work to anticipate each other’s perspectives and needs while asking the right questions to ensure "the order” is being taken correctly.</p> <h3>#3 - Delivering the Order</h3> <p><em>"Perceptions of value for intangible services are created through emotions.”</em></p> <p>Delivering the order focuses on making sure all parties understand the service that’s been performed and the benefits that have resulted. Consistently delivering the order well begins to make your firm a great place to work.</p> <h3>#4 - Ascertaining Satisfaction</h3> <p><em>"Long-term relationships are sustained from meeting, and then exceeding, stated and unstated needs.”</em></p> <p>Ascertaining satisfaction is making sure your team understands how their efforts are perceived by those they are serving and if expectations were met.</p> <h3>#5 - Offering Dessert</h3> <p><em>"The law of the harvest – you reap what you sow.”</em></p> <p>Offering Dessert is one of the most fun parts of belonging to a high-performing, strongly branded firm. It bonds relationships and enhances your firm’s culture. The best firms seek opportunities to offer dessert.</p> <h3>#6 - Collecting the Check</h3> <p><em>"The perception of value is highest at the moment of delivery.”</em></p> <p>Internal and external clients value services the most at the time of delivery. Collecting the Check is the appropriate time to set the stage for the relationship’s future and build ongoing satisfaction.</p> <h3>#7 - Recovery</h3> <p><em>"Long-term trust and respect is built on taking responsibility for your actions.”</em></p> <p>Recovery is the systematic steps we take to reestablish a relationship after we make a mistake or create a problem.</p> <p>Creating a Five Star Client Service culture isn’t always easy, but it can be fun. I’ve had the privilege of taking firms through the <a href="http://boomer.site-ym.com/?page=HomeFiveStar">Five Star Client Service</a> process and it’s always a joy to see all levels of the firm engaged in becoming "Five Star.” High-performing team members want to work in a Five Star Client Service culture. If your firm could improve in the area of client service, have your internal team start practicing the 7 keys list above.</p> <p> </p> Fri, 20 Feb 2015 12:00:00 EDT Skycapes Snapshot February 20, 2015 http://www.kscpa.org/about/news/765-skycapes_snapshot_february_20_2015 http://www.kscpa.org/about/news/765-skycapes_snapshot_february_20_2015 <h2>Full interactive <a class="file pdf" style="font-size: 14px; line-height: 1.5;" href="/writable/files/2015/skyscapes_snapshot_02_20_15.pdf">Skyscapes Snapshot</a></h2> <p><img class="justified_center" style="display: block; margin-left: auto; margin-right: auto;" src="/writable/images/News/2015NewsImages/skyscapes_snapshot_02_20_15.jpg" alt="Skyscapes Snapshot" width="431" height="557" /></p> <p> </p> <p> </p> Fri, 20 Feb 2015 12:00:00 EDT Experience WCOA: Session Videos Now Available http://www.kscpa.org/about/news/764-experience_wcoa_session_videos_now_available http://www.kscpa.org/about/news/764-experience_wcoa_session_videos_now_available <p><span>In November 2014, the CGMA designation, powered by the AICPA and CIMA, sponsored the World Congress of Accountants in Rome. More than 3,500 attendees participated in three days of discussion on hot topics, issues and trends affecting the profession. </span><a href="http://www.cgma.org/Resources/Videos/Pages/WCOA2014-Videos.aspx?cm_em=mary@kscpa.org&cm_mmc=CGMA:CheetahMail-_-cgma-_-FEB15-_-CGMAAdvantage_021215_AIFEB15_ADDON" target="_blank"><span>View a sampling of videos on CGMA.org</span></a><span>, including the CGMA session "Businesses thriving in disruptive times," featuring CFOs from Yahoo!, British Telecom, EY and Royal Dutch Shell.</span></p> Fri, 20 Feb 2015 12:00:00 EDT House Tax Panel Votes to Expand 529 Plans in Reply to Obama http://www.kscpa.org/about/news/763-house_tax_panel_votes_to_expand_529_plans_in_reply http://www.kscpa.org/about/news/763-house_tax_panel_votes_to_expand_529_plans_in_reply <p><img class="justified_left" style="float: left;" src="http://cdn.accountingtoday.com/media/newspics/paulryan.jpg" alt="" width="173" height="204" /></p> <p>The House Ways and Means Committee voted to expand college savings tax incentives that President Barack Obama proposed limiting earlier this year.</p> <p>The bill would let people use so-called 529 accounts to buy computers as well as tuition, books and other expenses. It also would make it easier for people to put refunds from colleges back into tax-advantaged accounts without penalty.</p> <h3 style="text-align: left;"> </h3> <h3 style="text-align: left;">Paul Ryan</h3> <p> </p> <p>“These are great tools that families use to save for college,” said Ways and Means Chairman Paul Ryan, a Wisconsin Republican. “They reward people for investing in our kids’ future.”</p> <p style="text-align: left;">The committee backed the bill on a voice vote Thursday, after Republicans rejected an amendment that would have limited 529 plans for people earning more than $3 million a year.</p> <p>The 529 plans, named for the section of the U.S. tax code that allows them, have become increasingly popular since they were expanded in 2001. Contributions are made with post-tax money and withdrawals aren’t subject to income taxes.</p> <p>The measure passed by the committee, which would cost the government $51 million over a decade, is scheduled for a vote by the full House later this month.</p> <p>Democrats offered an amendment to prevent people from contributing to 529 accounts if they had adjusted gross income of more than $3 million in the prior year. That would have offset the cost of the bill and affected slightly more than 0.1 percent of households.</p> <p><strong>Taxing Earnings</strong><br />“Just because someone has means does not mean they’re saving for their own child,” said Representative Lynn Jenkins, a Kansas Republican. “They may be saving for a child who is very much in need.”</p> <p>As part of a broader revamp of education tax incentives, Obama earlier this year proposed taxing earnings in the accounts when withdrawn. That rule would have applied only to new contributions.</p> <p>Administration officials sought to justify that proposal by saying that the benefits of 529 plans are skewed to high-income families who have enough money to be able to save.</p> <p>A 2012 study by the Government Accountability Office showed that the median income of families with 529s or similar plans was $142,400, compared with $45,100 for other families.</p> <p>“If we’re going to focus on reducing taxes, let’s do something about the tax bill for working families, middle-class families, so that their children also will have an opportunity to get a higher education,” said Representative Lloyd Doggett, a Texas Democrat.</p> <p><strong>Obama’s Proposal</strong><br />Obama, who has put $240,000 into 529 plans for his daughters, abandoned his plan to limit them within 10 days of proposing it.</p> <p>“Our thinking was you could save money by eliminating the 529 and shifting it into some other loan programs that would be more broadly based,” the president said Feb. 6 in Indianapolis. “There were enough people who already were utilizing 529s that they started feeling as if well, changing like this in midstream, even if I’m not affected right now, I like the program. It wasn’t worth it for us to eliminate it. The savings weren’t that great.”</p> <p>The committee also voted Thursday along party lines to revive two tax breaks that lapsed at the end of 2014 and extend them indefinitely.</p> <p>One of the breaks would let individuals deduct state sales taxes instead of income taxes, at a cost of $42.4 billion over 10 years. The other would continue the research tax credit for businesses, at a cost of $181.6 billion over a decade.</p> <p>“Every dollar in the pocketbook makes a difference,” said Representative Sam Johnson, a Texas Republican who backs the state sales tax deduction, in part because Texas lacks an income tax.</p> <p>The education bill is H.R. 529. The sales tax bill is H.R. 622. The research credit bill is H.R. 880.</p> Fri, 20 Feb 2015 12:00:00 EDT AICPA Launches #CPAPOWERED Campaign with the Theme: CPA Secrets to a Better Business http://www.kscpa.org/about/news/762-aicpa_launches_cpapowered_campaign_with_the_theme http://www.kscpa.org/about/news/762-aicpa_launches_cpapowered_campaign_with_the_theme <p class="x_MsoNoSpacing">Last week, the AICPA launched its 2015 #CPAPOWERED campaign, with the theme <strong>CPA Secrets to a Better Business</strong>. The campaign’s goal is to reach small business owners and demonstrate the expert advice a CPA can bring to their business. A series of videos on topics ranging from understanding health care and acquiring financing to succession planning, address small business concerns and offer viewers insights into the value and expertise of CPAs.</p> <p class="x_MsoNoSpacing">· <strong style="font-size: 14px; line-height: 1.5;">Central Message:</strong> The CPA is the most trusted business adviser, providing the expert, objective guidance to help small business owners build and maximize the value of their business.</p> <p class="x_MsoNoSpacing">· <strong>Vehicles to Communicate the Message:</strong></p> <ul> <li>A new <a style="font-size: 14px; line-height: 1.5;" href="http://www.cpapowered.org/#top" target="_blank">microsite</a> featuring CPA secrets for small business in the form of tips and <a style="font-size: 14px; line-height: 1.5;" href="https://owa.mex02.emailsrvr.com/owa/redir.aspx?C=XiZ0ynfctUqu9tcT6WNoIxi_6BqjINJI3m3P4G1_JXgzt0Fz252jvYmFuvZbcBEmwvY07CyVKmk.&URL=https%3a%2f%2fwww.kollaborate.tv%2flink%3fid%3d54cc090ecdc74" target="_blank">videos</a> of CPAs sharing their knowledge.</li> </ul> <p class="x_MsoNoSpacing">Please visit the <a style="font-size: 14px; line-height: 1.5;" href="http://www.cpapowered.org/#top" target="_blank">microsite</a> and share the URL with your contacts, who can learn the benefits of working with a CPA and get valuable information. Also, download and use the toolkit resources we’ve provided to promote your services to small business owners in your communities. We invite you to provide tips for possible inclusion on the microsite by emailing them to <a style="font-size: 14px; line-height: 1.5;" href="https://owa.mex02.emailsrvr.com/owa/redir.aspx?C=XiZ0ynfctUqu9tcT6WNoIxi_6BqjINJI3m3P4G1_JXgzt0Fz252jvYmFuvZbcBEmwvY07CyVKmk.&URL=mailto%3acpapowered%40aicpa.org">cpapowered@aicpa.org</a></p> Fri, 20 Feb 2015 12:00:00 EDT The KSCPA Brings LOVE to CBIZ http://www.kscpa.org/about/news/761-the_kscpa_brings_love_to_cbiz http://www.kscpa.org/about/news/761-the_kscpa_brings_love_to_cbiz <h2 style="text-align: center;">The KSCPA Brings LOVE to CBIZ</h2> <h2 style="text-align: center;"><img class="justified_center" style="width: 327px; height: 224px; margin-right: auto; margin-left: auto; display: block;" src="/writable/images/News/2015NewsImages/CBIZEventValentinesDay/02_cbiz_event.jpg" alt="CBIZ 02" width="741" height="491" /></h2> <p>On February 14th, the KSCPA visted the offices of CBIZ in Leawood for a special Valentine's Day event. Employees and their families were treated to cupcakes, cookies, candy, and punch.</p> <p>As busy season progresses, the KSCPA will continue to bring a little love to all our hardworking CPAs in Kansas. If you would like the KSCPA to host an event at your firm, please contact <a href="mailto:michelle@kscpa.org"><span style="text-decoration: underline;"><span style="color: #0066cc;">michelle@kscpa.org</span></span></a>.</p> <p><img class="justified_left" style="width: 351px; height: 508px; margin-right: auto; margin-left: auto; display: block;" src="/writable/images/News/2015NewsImages/CBIZEventValentinesDay/04_cbiz_event.jpg" alt="CBIZ 04" width="343" height="514" /><img class="justified_center" style="width: 510px; height: 354px; margin-right: auto; margin-left: auto; display: block;" src="/writable/images/News/2015NewsImages/CBIZEventValentinesDay/05_cbiz_event.jpg" alt="CBIZ 05" width="750" height="497" /><img class="justified_center" style="width: 539px; height: 318px; margin-right: auto; margin-left: auto; display: block;" src="/writable/images/News/2015NewsImages/CBIZEventValentinesDay/03_cbiz_event_.jpg" alt="CBIZ 03" width="750" height="452" /><img class="justified_center" style="width: 522px; height: 336px; margin-right: auto; margin-left: auto; display: block;" src="/writable/images/News/2015NewsImages/CBIZEventValentinesDay/07_cbiz_event.jpg" alt="06" width="744" height="499" /><img class="justified_center" style="width: 489px; height: 316px; margin-right: auto; margin-left: auto; display: block;" src="/writable/images/News/2015NewsImages/CBIZEventValentinesDay/08_cbiz_event.jpg" alt="07" width="750" height="497" /><img class="justified_center" style="margin-right: auto; margin-left: auto; display: block;" src="/writable/images/News/2015NewsImages/CBIZEventValentinesDay/01_cbiz_event_.jpg" alt="08" /><img class="justified_center" style="width: 499px; height: 321px; margin-right: auto; margin-left: auto; display: block;" src="/writable/images/News/2015NewsImages/CBIZEventValentinesDay/06_cbiz_event.jpg" alt="09" width="749" height="497" /></p> <p> </p> Wed, 18 Feb 2015 12:00:00 EDT IRS Makes it Easier for Small Businesses to Apply Repair Regulations to 2014 and Future Years http://www.kscpa.org/about/news/760-irs_makes_it_easier_for_small_businesses_to_apply http://www.kscpa.org/about/news/760-irs_makes_it_easier_for_small_businesses_to_apply <p>WASHINGTON —The Internal Revenue Service today made it easier for small business owners to comply with the final tangible property regulations.</p> <p>Requested by many small businesses and tax professionals, the simplified procedure is available beginning with the 2014 return taxpayers are filling out this tax season. The new procedure allows small businesses to change a method of accounting under the final tangible property regulations on a prospective basis for the first taxable year beginning on or after Jan. 1, 2014.</p> <p>Also, the IRS is waiving the requirement to complete and file a <a href="http://links.govdelivery.com:80/track?type=click&enid=ZWFzPTEmbWFpbGluZ2lkPTIwMTUwMjEzLjQxNTkwNTkxJm1lc3NhZ2VpZD1NREItUFJELUJVTC0yMDE1MDIxMy40MTU5MDU5MSZkYXRhYmFzZWlkPTEwMDEmc2VyaWFsPTE2OTc0NzQxJmVtYWlsaWQ9YW1hbG9uZXlAYWljcGEub3JnJnVzZXJpZD1hbWFsb25leUBhaWNwYS5vcmcmZmw9JmV4dHJhPU11bHRpdmFyaWF0ZUlkPSYmJg==&&&127&&&http://www.irs.gov/uac/Form-3115,-Application-for-Change-in-Accounting-Method">Form 3115</a> for small business taxpayers that choose to use this simplified procedure for 2014.</p> <p>“We are pleased to be able to offer this relief to small business owners and their tax preparers in time for them to take advantage of it on their 2014 return,” said IRS Commissioner John Koskinen. “We carefully reviewed the comments we received and especially appreciate the valuable feedback provided by the professional tax community on this issue.”</p> <p>The new simplified procedure is generally available to small businesses, including sole proprietors, with assets totaling less than $10 million or average annual gross receipts totaling $10 million or less. Details are in Revenue Procedure 2015-20, posted today here: <a href="http://www.irs.gov/pub/irs-drop/rp-15-20.pdf">http://www.irs.gov/pub/irs-drop/rp-15-20.pdf</a></p> <p>The revenue procedure also requests comment on whether the $500 safe-harbor threshold should be raised for businesses that choose to deduct, rather than capitalize, certain capital expenses.  </p> Fri, 13 Feb 2015 12:00:00 EDT Most Outstanding Claims for FICA Tax Refunds Will Be Denied, IRS Announces http://www.kscpa.org/about/news/759-most_outstanding_claims_for_fica_tax_refunds_will http://www.kscpa.org/about/news/759-most_outstanding_claims_for_fica_tax_refunds_will <p>In response to last year’s Supreme Court decision unanimously holding that severance payments to employees are subject to Federal Insurance Contributions Act taxes (<em>Quality Stores, Inc</em>., 134 S. Ct. 1395 (2014)), the IRS announced that it will disallow all of the more than 3,000 refund claims (except for those that satisfy a narrow exception in Rev. Rul. 90-72) filed while the resolution of this issue was pending, as well as the appeals filed in response to the denial of refund claims (<a href="http://www.irs.gov/pub/irs-drop/a-15-08.pdf" target="_blank">Announcement 2015-08</a>). This disallowance also includes claims for refund of Railroad Retirement Tax Act (RRTA) and Federal Unemployment Tax Act (FUTA) taxes.</p> <p>Claims may still be pursued by taxpayers whose claims for refund are based on the narrow statutory exception for supplemental unemployment compensation benefits that are linked to the receipt of state unemployment compensation and satisfy certain other requirements contained in Rev. Rul. 90-72. According to the Supreme Court, those amounts are excludable from wages for FICA, FUTA, and income tax withholding, and are not compensation for RRTA purposes.</p> <p>Taxpayers with pending refund claims based on the Rev. Rul. 90-72 exception should contact the IRS employee listed in the announcement on how to proceed with the appeal request for that portion of the claim. If they do not, the IRS will take no further action. Taxpayers also have two years from the date on the disallowance letter they were mailed by certified or registered mail to file a claim for a refund in federal district court or the Court of Federal Claims. This period is not extended by filing an appeal request with the IRS.  </p> <p>—<strong> <em><a href="mailto:sschreiber@aicpa.org">Sally P. Schreiber</a></em></strong> <em>is a </em>JofA<em> senior editor.</em></p> Fri, 13 Feb 2015 12:00:00 EDT Knock, Knock. Who's There? The Auditor http://www.kscpa.org/about/news/758-knock_knock_whos_there_the_auditor http://www.kscpa.org/about/news/758-knock_knock_whos_there_the_auditor <p><a class="file pdf" href="/writable/files/2015/whostheretheauditor.pdf">Knock, Knock. Who's There? The Auditor</a></p> Fri, 13 Feb 2015 12:00:00 EDT How the New Congress Might Affect the CPA Brand http://www.kscpa.org/about/news/757-how_the_new_congress_might_affect_the_cpa_brand http://www.kscpa.org/about/news/757-how_the_new_congress_might_affect_the_cpa_brand <div class="entry-body"> <p><img class="justified_center" style="display: block; margin-left: auto; margin-right: auto;" src="/writable/images/News/2015NewsImages/6a0133f5884316970b01b8d0cbc5f8970c.jpg" alt="Capitol" />Meet the new Congress. Same as the old Congress? That remains to be seen. The 114<sup>th</sup> Congress opened on January 6 with 74 new members of the House and Senate, 104 women – more than ever before, and the largest House Republican majority since 1929. Those are the numbers, but let’s look at what they mean for the CPA profession.</p> <p>Our profession’s core services are greatly impacted by the legislators and regulators who set policy and standards. The November election brought many changes and several new faces to Washington. One thing that did not change, however, was a strong CPA presence. I was very pleased that nine CPAs were reelected to the House. I know that these nine individuals, as well as other CPAs, whether as elected officials or active constituents, will continue to provide crucial experience and guidance. In light of the new representatives, staff members and committee chairs in the Congress, we have been reviewing our advocacy and education efforts on initiatives affecting the profession and the public.</p> <p>We expect Congress to focus on certain issues in 2015. Here is a brief summary of the more significant ones.</p> </div> <div class="entry-more"> <p><strong>Tax Reform</strong></p> <p>Last February, Rep. Dave Camp (R-Mich.), as Chairman of the House Ways and Means Committee, released a tax reform discussion draft. Although Camp has retired from the House, his proposals could become a blueprint for discussion this year. We have shared comments on various aspects of Chairman Camp’s proposal and will continue to serve as a congressional resource. We continue to advocate for tax reform that embodies administrative ease, fairness and simplification, but unless the political climate materially changes, passage of a comprehensive tax reform bill remains unlikely. </p> <p><strong>Cash Basis Method of Accounting</strong></p> <p>As part of his broader tax reform package, Chairman Camp proposed that many businesses, including pass-through entities, switch from the cash basis to accrual accounting for tax purposes. In November 2013, then Senate Finance Committee Chairman Max Baucus released a tax reform discussion draft which also included a limitation to the cash basis method. We believe the proposals would increase administrative and recordkeeping burdens as well as create timing and collection challenges that would disadvantage CPAs and certain other taxpayers. As a result, the AICPA is a leading member of a multi-industry coalition opposing those proposals. We worked with state CPA societies and member firms to alert Congress to the negative implications. Your letters – hundreds of them – have drawn significant attention to this issue. In response, 46 Senators and 233 members of the House signed bipartisan letters opposing the proposals. Such a show of support is an incredible achievement. We will continue to remain vigilant because we anticipate that these proposals could resurface in future tax reform discussions.</p> <p><strong>Mobile Workforce</strong></p> <p>Federal mobile workforce legislation is another issue of interest. A high percentage of businesses, including many CPA firms, have employees temporarily working in states other than where the firm or company is located. Legislation was progressing last year but will need to be reintroduced in the new Congress, and we believe that will happen. Forty-one states currently impose a personal income tax on wages, regardless of whether the taxpayer is a resident of the state. In fact, some states require withholding for as little as one day of work. We supported legislation that enjoyed bipartisan support and would have established a uniform national standard for any employee who works less than 30 days outside his or her state of residence. Despite increased congressional support, this legislation was shelved to allow for resolution of more controversial state taxation bills and ultimately died at the end of 2014 when the 113<sup>th</sup> Congress came to a close. Having a uniform national standard for state nonresident income tax withholding would significantly improve the current complex system, increase compliance and promote interstate commerce.</p> <p><strong>Patent Reform</strong></p> <p>We also are closely following patent reform discussions on Capitol Hill. Patent trolls are bringing lawsuits against companies or firms regarding patent infringement for mundane daily uses of technology. One of the most egregious examples is a patent on scanning a document to email. The profession got involved early, submitting testimony at hearings outlining how trolls are detrimental to the profession. The AICPA supports efforts for patent reform. Congress made some headway on this issue last year, passing a bill dealing with patent trolls, but the Senate did not act. We expect this legislation to be a priority this year.</p> <p><strong>Tax Extenders </strong></p> <p>In late December, Congress once again extended 50+ tax provisions, continuing a short-term approach that brings with it an inherent uncertainty for individuals and businesses alike. The agreement renewed the provisions for 2014, leaving Congress to debate these same issues in 2015. Perpetual uncertainty is precisely why the AICPA believes that tax laws should be enacted with a presumption of permanency, except in rare situations. We’re hopeful that 2015 will be the year when Congress permanently extends these tax provisions.</p> <p><strong>U.S. Finances</strong></p> <p>We remain concerned about the long-term prognosis for the federal government’s fiscal health.</p> <p>Yes, deficits have declined in recent years, but the Congressional Budget Office is projecting the return of trillion dollar deficits within the next decade. That’s why we will not abandon our commitment to fiscal responsibility. We will continue to look for opportunities to remind lawmakers about the value of using the U.S. government’s financial statements to gain a greater understanding of the nation’s fiscal health.</p> <p><strong>CPAs in Congress</strong></p> <p>As I mentioned before, CPAs in Congress are not only critical to the profession, but to fiscal matters for our country. Likewise, CPAs serving in state legislatures and Governorships is equally critical. At the start of 2015 there are more than 60 CPAs serving in state Houses and Senates, one CPA is a governor (Michigan’s Rick Snyder), and one is a Lieutenant Governor (Ohio’s Mary Taylor). We thank them all for their service to our country and for bringing the competencies of the profession forward to elected government service.</p> <p><strong>You Can Help Advance Advocacy Efforts</strong></p> <p>We will keep you informed of progress on these and other issues as developments unfold throughout the year. As you can see, CPA involvement at the grassroots level is critical to the profession’s advocacy efforts. If you want to get involved, consider participating in our Key Person Program. Contact Vicki Simmons at <a href="mailto:congaffairs@aicpa.org">congaffairs@aicpa.org</a> for information.</p> <p><strong><em>Barry C. Melancon, CPA, CGMA, President and CEO, American Institute of CPAs</em></strong></p> </div> Fri, 13 Feb 2015 12:00:00 EDT What We Learned from the FCC's WIFI-Blocking Saga http://www.kscpa.org/about/news/756-what_we_learned_from_the_fccs_wifi-blocking_saga http://www.kscpa.org/about/news/756-what_we_learned_from_the_fccs_wifi-blocking_saga <p>By Ernie Smith</p> <p>It’s one of those stories that’s kept eyebrows arched in the event space over the past few months.</p> <p>The Federal Communications Commission’s scrutiny of the use of wireless-blocking devices at hotels and conference centers, among other facilities, <a href="http://associationsnow.com/2015/01/fcc-warns-hotels-dont-block-wireless-hot-spots/">reached a high point last week</a> when the FCC’s enforcement arm warned that it would fine any facility actively blocking access to the wireless airwaves.</p> <p>The saga was rooted in an incident at a Gaylord facility in Nashville, Tennessee, in 2013. A customer complained about a blocked hot spot, and <a href="http://associationsnow.com/2014/10/fcc-takes-aim-convention-center-wifi-marriott-fine/">the FCC fined Marriott $600,000</a>, saying such blocking is illegal under federal law.</p> <p>Marriott argues that there are valid security reasons for blocking third-party devices, and the company petitioned the FCC to reconsider the rules. Critics weren’t buying the claim and largely opposed the petition in submitted comments. Feeling backlash, <a href="http://associationsnow.com/2015/01/marriott-reverses-course-wifi-blocking/">Marriott publicly said a few weeks ago</a> that it would no longer block wireless access at conference facilities but that it would continue pushing for clarity on the issue from the FCC.</p> <p>But last week, two of the FCC’s five commissioners—including chairman Tom Wheeler—strongly <a href="http://www.nationaljournal.com/tech/fcc-warns-hotels-not-to-block-wi-fi-20150127">hinted they would vote to reject the petition</a>, leading Marriott, Ryman Hospitality Properties, and the American Hospitality & Lodging Association (AH&LA) to <a href="http://apps.fcc.gov/ecfs/comment/view;ECFSSESSION=vc0vJP7Tl8wv3vG7KJhv2Q81jxwVKn2yTGLrTc3jPBDkKcxpyvWh!809722108!-1683422207?id=60001012775">withdraw it</a> late last week.</p> <p>“Our intent was to protect personal data in WiFi hotspots for large conferences,” Marriott Global CIO Bruce Hoffmeister <a href="http://news.marriott.com/2015/01/marriott-international-committed-to-wi-fi-access-and-security.html">said in a statement</a>. “We thought we were doing the right thing asking the FCC to provide guidance, but the FCC has indicated its opposition.”</p> <p>AH&LA President and CEO Katherine Lugar, meanwhile, said the group would focus instead on the efforts being undertaken by its cybersecurity task force. Lugar maintains that its goal with the petition was “to clear up the significant confusion that exists around what tools businesses can use to legally protect guests’ vital personal data.”</p> <p>“We did not seek to block personal WiFi,” <a href="http://www.ahla.com/pressrelease.aspx?id=36708">Lugar said in a statement</a>. “However, it is clear that the petition is not achieving this goal, and that we must work in other ways to resolve this issue of consumer safety and cybersecurity.”</p> <h3>TETHERED TAKEAWAYS</h3> <p>So now that this story is in the rear-view mirror, what insights did we gain about one of the meeting industry’s most pressing tech issues? Here’s what I’ve got:</p> <p><strong>The personal hot spot, once niche, is now mainstream.</strong>A couple of years ago, hot spots were slow and annoying—3G speeds were just fast enough to get you online, but watching a video on YouTube was an exercise in torture. And while there was the faster WiMAX in some markets, it had a limited coverage range outside of a handful of big cities, making it less feasible for globetrotters. But with LTE finally covering most of the map, <a href="http://associationsnow.com/2013/10/meetings-warrior-get-online-on-your-own-wi-fi/">it’s now feasible for users to take a personal connection</a>as a backup at a conference or elsewhere. That’s doubly true as more iOS and Android devices become tethering tools. A few of these standalone hot spots are even novel—check out the ZTE S Pro 2, an LTE hot spot <a href="http://www.tomsguide.com/us/zte-pico-projector,news-20132.html">that doubles as a handheld projector</a>, making it easy to turn any room into a karaoke party. A lot of attendees are going to have these devices from here on out, so it makes sense to embrace it.</p> <p><strong>Consistent wireless access matters more than ever.</strong>Attendees bring these wireless devices to events not because they’re paranoid, but because they need to be online, and they’ve been burned by bad wireless experiences at airports, conference facilities, or hotels over the years. By using their own device, at least they know what they’re getting. Associations that put on events are in a position to advocate for their members on this issue.</p> <p><strong>Attendees aren’t afraid to speak up.</strong> Marriott got fined because someone complained to the FCC—and the agency took the complaint seriously. After the fine was issued, the complaints got louder and the FCC realized that other facilities were doing the same thing. Naturally, the revelations raised other questions that hotel chains had to answer. One example: “Why can I get free WiFi at a $39-per-night extended-stay hotel but have to pay $15 a day at a four-star facility?” Not every such issue is going to end up on Tom Wheeler’s desk, but it might end up on your event’s hashtag or on feedback forms.</p> <p><strong>Exhibitors want a break, too.</strong> One element of this story that raised concerns with tech-focused outlets such as <a href="http://boingboing.net/2014/12/31/marriott-hotels-plans-to-block.html"><em>Boing Boing</em></a> and <a href="https://www.techdirt.com/articles/20141003/12083628721/fcc-fines-marriott-jamming-customers-wifi-hotspots-to-push-them-onto-hotels-1000-per-device-wifi.shtml"><em>TechDirt</em></a>—and perhaps led to a more negative spin—was the use of a complex wireless structure at the Gaylord conference facility. One thing missed by the more critical coverage was that the structure—which charged exhibitors prices of up to $1,000 for better speeds—was clearly intended for companies, not regular consumers. Admittedly, some tradeshow exhibitors are willing to pay an extra cost for a faster connection. But the Marriott drama suggests that a too-aggressive approach could create a vendor backlash—leading some to simply use their own hot spots instead. The fat-pipe strategy can still work, but the advantages need to be better than “we’re the only game in town.”</p> <p><strong>Without words, actions can be misinterpreted.</strong> The problem that Marriott, AH&LA, and other hotel industry officials struggled with was one of messaging. While the industry’s security concerns were valid—a fake hot spot could prove a massive security risk in a room with a thousand people—that message ultimately got lost in a wave of consumer populism. Once the high ground was lost, it never came back. It’s a reminder that transparency matters with any legitimate security issue. If you need to do something security-related at an event, be ready to explain why at the outset.</p> <p>A few years ago, I went on a vacation to Ireland and got a bit of sticker shock from my unnamed Dublin hotel. The reason? The in-room wireless access was 15 euros a day at a time when the exchange rate translated that cost to around $30. (If I were going to Ireland now, <a href="http://associationsnow.com/2015/01/euros-shrinking-value-maybe-good-news-travelers-maybe-bad/">that price tag would admittedly be a lot less painful</a>, but it’d still leave a mark.)</p> <p>When enough people have that kind of experience, something will eventually give. Consumers will make clear what they’re willing to pay for a product.</p> <p>And when it comes to WiFi, they’ll carry around their own if they feel like they’re getting a raw deal. Simple as that.</p> <h1>ERNIE SMITH</h1> <div class="meta"> <p>Ernie Smith is the social media journalist for Associations Now and a former newspaper guy. <a class="more" href="http://associationsnow.com/author/erniesmith/">MORE »</a></p> </div> Fri, 13 Feb 2015 12:00:00 EDT 2015 Holds Great Promise for Accounting Profession http://www.kscpa.org/about/news/755-2015_holds_great_promise_for_accounting_profession http://www.kscpa.org/about/news/755-2015_holds_great_promise_for_accounting_profession <p><img class="justified_center" style="display: block; margin-left: auto; margin-right: auto;" src="/writable/images/News/2015NewsImages/1best-summer-jobs-internships-for-young-people.jpg" alt="2015" width="477" height="263" /></p> <p>Whenever I think about all that is going on within our profession, I’m amazed at the breadth and scope of accomplishments and inspired by the people who make it all happen. From envisioning the future of learning to reinforcing a foundation of quality, we’ve never had a better opportunity to shape our future. The accounting profession achieved great success in 2014, thanks to several factors: hard work and quality services from CPAs, extensive advocacy efforts, forward-thinking initiatives and the joint efforts of the AICPA and the state CPA societies.</p> <p>Looking to 2015, I’m excited about the AICPA’s agenda and the steps our profession will take to continue our growth as future-focused and client service-driven advisers for modern business. At a time when individuals and businesses are battling unprecedented complexity and uncertainty, our profession has the expertise and the opportunity to build a pathway to prosperity for our businesses, CPA firms, clients and the public. Let’s commit to making this year even more successful.</p> <p><strong style="font-size: 14px; line-height: 1.5;">1.     </strong><strong style="font-size: 14px; line-height: 1.5;">Quality</strong></p> <p>For 128 years our profession has staked its reputation on quality services delivered by competent and knowledgeable professionals. Quality is our foundation and is essential to supporting future growth and success. One of the most significant developments in 2014 was the launch of the AICPA’s <a href="http://www.aicpa.org/interestareas/peerreview/pages/eaq.aspx">Enhancing Audit Quality</a> (EAQ) initiative, a comprehensive and multifaceted effort designed to reinvigorate the profession’s commitment to quality.</p> <p>The basic EAQ framework was introduced in August in a <a style="font-size: 14px; line-height: 1.5;" href="http://community.aicpa.org/enhancing_audit_quality_initiative/m/mediagallery/599.aspx">discussion paper</a> that solicited stakeholder comments on proposed short- and long-term quality initiatives. CPAs and other stakeholders provided suggestions now being considered by AICPA teams, committees and/or boards. In a second paper, “<a style="font-size: 14px; line-height: 1.5;" href="http://community.aicpa.org/future-practice-monitoring/default.aspx">Evolving the CPA Profession’s Peer Review Program for the Future</a>,” the AICPA offered a thought-provoking concept for what practice monitoring could become. The initial concept is meant to start a profession-wide dialogue about meaningful change; changes we hope will help ensure long-term relevance and quality.</p> <p>Several factors – from the pace of change to the complexity of business and standards, from audit relevance to regulators’ scrutiny – made it clear that our profession needed bold action to shape the audit function of the future. We know that quality can only be achieved and maintained with vigilance and dedication and the EAQ is a principal part of the AICPA’s ongoing commitment to excellence.</p> <p><strong style="font-size: 14px; line-height: 1.5;">2.     </strong><strong style="font-size: 14px; line-height: 1.5;">Advocacy</strong></p> <p>Each year I’m privileged to see firsthand the partnership between the AICPA and state CPA societies as we address various issues from a legislative or regulatory perspective. I cannot overstate the importance of these efforts. When we lead proactive campaigns to shape legislation, we’re really shaping our profession’s future. The alternative is to wait for legislation to shape our future for us. I’ll share a few examples of what we achieved in 2014 and set up some of the issues that could see movement in 2015:</p> <p><strong>Cash Basis</strong>: The profession successfully fought back an attempt to force some businesses to switch from the cash basis to accrual accounting for tax purposes. CPAs’ letters – more than 1,000 – brought significant attention to this issue and helped convince 46 Senators and 233 members of the House to sign bipartisan letters opposing the proposal.</p> <p><strong>DATA Act</strong>: Signed into law in May, the successful implementation of the DATA act concludes a five-year effort in close partnership with the state societies to improve the accessibility and transparency of business information. It was a meaningful – and hard-fought – win that reinforced the importance of stakeholder collaboration within the profession.</p> <p><strong>Mobile Workforce</strong>: The AICPA continues to support legislation that would establish a uniform national standard for any employee who works less than 30 days outside his or her state of residence.</p> <p><strong>Patent Reform</strong>: The profession continues to fight against patent trolls who bring lawsuits against companies or firms for patent infringement for mundane daily uses of technology, such as scanning a document to email. The House passed a bill last year, but the Senate failed to act. We expect this issue will be a priority in 2015.</p> <p>You can read more about these and other issues in my recent blog post: <a style="font-size: 14px; line-height: 1.5;" href="http://blog.aicpa.org/2015/02/how-the-new-congress-might-affect-cpa-profession.html#sthash.nEwoajln.dpbs">How the New Congress Might Affect the CPA Profession.</a></p> <p><strong style="font-size: 14px; line-height: 1.5;">3.     </strong><strong style="font-size: 14px; line-height: 1.5;">CGMA</strong></p> <p>This year also will be significant for members in business and industry because of new developments with the highly successful Chartered Global Management Accountant (CGMA) designation. Before its third birthday, the CGMA designation became the largest management accounting designation in the world, with more than 145,000 CGMAs globally. Through our joint venture and the release of new CGMA components, including the first universal set of global management accounting principles and a CGMA case study exam, the AICPA and the Chartered Institute of Management Accountants (CIMA) have built the foundation of the management accounting profession.</p> <p><strong style="font-size: 14px; line-height: 1.5;">4.     </strong><strong style="font-size: 14px; line-height: 1.5;">Human Capital</strong></p> <p>Of course, the most important part of our profession’s success is its people, and attracting and retaining the best and brightest has never been more important.</p> <p>A major demographic shift is underway in the United States, putting a rapidly increasing percentage of entrepreneurial capital into the hands of minority-owned businesses. This shift means clients and employers of CPAs will expect more diverse workforces. We have to build a business environment that reflects life. The AICPA and state CPA societies see diversity and inclusion as a critical issue for long-term viability and we’re committed to helping our members meet the changing expectations of those we serve. Here’s something else to consider – at a time when competition for top talent is both global and fierce, the advantage will go to the firms and companies that have a plan to recruit, develop and retain a diverse workforce. The AICPA continues to produce resources that can help CPAs gain that advantage, including two that were launched last year: an <a style="font-size: 14px; line-height: 1.5;" href="https://www.aicpainclusion.com/default.aspx">Accounting Inclusion Maturity Model</a> that helps organizations evaluate their own D&I practices, and a <a style="font-size: 14px; line-height: 1.5;" href="http://www.aicpa.org/career/diversityinitiatives/diresources/downloadabledocuments/recruitment-retention-toolkit.pdf">recruiting and retention toolkit</a> with resources to help accounting leaders and human resources professionals attract, recruit and retain a diverse workforce. State societies have been essential partners in national diversity initiatives: several state volunteers have served on the National Commission for Diversity and Inclusion and many societies have launched local efforts to improve diversity and inclusion in their states.</p> <p>Succession is another critical aspect of the pipeline. Each of us wants our profession to enjoy long-lasting success, but that is only possible if we prepare younger generations to fill the shoes of leadership in firms and organizations in the future. Virtually all states are investing in our profession’s future and today they develop future leaders through local leadership academies. Many of these state academies are modeled after the AICPA’s Leadership Academy, which today boasts nearly 200 graduates, many of whom are currently serving on professional committees, boards or AICPA Council. With the surge of Baby Boomer retirements, our profession needs to prepare leaders in the next generations.</p> <p>On the topic of the talent pool, we have to make sure a sufficient number of CPAs are in the profession to continue the profession’s success. Over the last few years, increasing and record numbers of people have been majoring in accounting but the number of people taking the CPA exam has remained flat. A research project now under way will help us better understand the factors causing the gap so we can develop strategic solutions.</p> <p><strong style="font-size: 14px; line-height: 1.5;">History of Excellence</strong></p> <p>State society support will be critical this year as the AICPA tackles complex challenges and positions the profession for long-term success. In past years, AICPA and state CPA society collaboration has yielded many meaningful initiatives that have changed the accounting landscape:</p> <p> </p> <ul> <li>Center for Plain English Accounting: The AICPA’s national A&A resource center for Private Companies Practice Section member firms. The Center’s resources provide local and regional firms the knowledge needed to succeed in today’s complex economic and business climate. </li> </ul> <ul> <li>Financial Reporting Framework for Small- and Medium-Sized Entities: A special purpose framework that delivers robust and relevant financial statements in a simplified, cost-beneficial way when U.S. GAAP financials are not needed.</li> </ul> <p>Great successes are within our grasp when we unite in the pursuit of common goals. Ongoing support from state CPA societies is both critical and sincerely appreciated. We are brought together as a profession and bonded as CPAs.</p> <p>I thank all of our members for your contributions to the accounting profession, making it a model of service and quality, and for achieving success in 2014. The profession has a lot on its plate in 2015 and everyone at the AICPA and your state CPA society is committed to serving your interests and helping you achieve your goals. </p> Fri, 13 Feb 2015 12:00:00 EDT Back to the Future: Research Discovers Meaningful Learning http://www.kscpa.org/about/news/754-back_to_the_future_research_discovers_meaningful http://www.kscpa.org/about/news/754-back_to_the_future_research_discovers_meaningful <p>Norm Hope, Ph.D. discusses his research on the learning modalities of Kansas CPAs, and how this research is changing the face of continuing education as we know it.</p> <p>Read the full article <a class="file pdf" href="/writable/files/2015/norm_hope_full_article.pdf">HERE.</a>.</p> Mon, 09 Feb 2015 12:00:00 EDT The AICPA Rethinks Peer Review http://www.kscpa.org/about/news/753-the_aicpa_rethinks_peer_review http://www.kscpa.org/about/news/753-the_aicpa_rethinks_peer_review <p>A concept paper on what the CPA profession's practice monitoring might look like in the future has been released by the AICPA with a comment deadline of June 15, 2015. "Evolving the CPA Profession's Peer Review Program for the Future," mentioned as forthcoming at NASBA's June 2014 Regional Meetings by AICPA Senior VIce President Susan S. Coffey, describes how the current peer review program could be transformed into a technology-driven, near-real-time practice monitoring process. The AICPA predicts the envisioned concept will be changed based on feedback from the paper, pilot testing and advances in technology. Ms. Coffey is urging all interested parties to join in the concept's development.</p> <p>"We believe this visionary concept has the potential to elevate the quality of the profession's work by using new technological approaches, creating a greater transparency and establishing more connection points between the CPA firm, the reviewer and the AICPA," Ms. Coffey stated.</p> <p>As envisioned, the program would highlight potential practice quality risk indicators and detect engagement issues earlier. The monitoring program would have five components:</p> <ol> <li>Continuous analytical evaluation of engagement performance;</li> <li>Human review when system identified concerns are raised;</li> <li>Involvement of external monitors, when necessary;</li> <li>Periodic inspection of system integrity;</li> <li>Oversight of the system's operating effectiveness.</li> </ol> <p>The AICPA expects to first develop monitoring tools that would be pilot tested with a voluntary group of firms of different sizes. As the pilot testing goes on, the AICPA would be working with the pilot firms and peer reviewers to see how the new tools could work with the peer review process.</p> <p>Several NASBA Committees are studying the concept papper and will prepare a joint response.</p> <p>Early this month NASBA responded to the AICPA's proposed changes to the current peer review standards. NASBA's letters can be viewed on <a href="https://nasba.org/news/">https://nasba.org/news/</a>. Overall the letters supported the changes being proposed.</p> <p>NASBA Chair Walter C. Davenport and President Ken L. Bishop thanked the NASBA Compliance Assurance Committee and the Regulatory Response Committee for their assistance in the preparation of those letters.</p> <p>To learn more about the future of peer review, attend the upcoming <a href="/professional_development/course/GNFPC15/governmental_nonprofit_accounting_auditing">Governmental Nonprofit Accouting and Auditing Conference</a> held June 1-2 , 2015 at the Hyatt Regency in Wichita. Fran McClintock, Senior Technical Manager of the AICPA Peer Review Program, will present the keynote address.</p> Fri, 06 Feb 2015 12:00:00 EDT Meet Your New IRS Stakeholder Liason, Eden R. Simpson http://www.kscpa.org/about/news/752-meet_your_new_irs_stakeholder_liason_eden_r http://www.kscpa.org/about/news/752-meet_your_new_irs_stakeholder_liason_eden_r <h2 style="margin: 0in 0in 0pt;"><span style="font-family: 'Arial','sans-serif'; font-size: 12pt;"><span style="color: #000000;"><img class="justified_center" style="width: 201px; height: 267px; margin-right: auto; margin-left: auto; display: block;" src="/writable/images/News/2015NewsImages/eden_copy1.jpg" alt="Eden R. Simpson" width="329" height="499" /></span></span></h2> <h2 style="margin: 0in 0in 0pt; text-align: center;"> <span style="font-family: 'Arial','sans-serif'; font-size: 12pt;"><span style="color: #000000;">The IRS has named Eden Simpson the Stakeholder Liaison for Kansas.</span></span></h2> <p style="margin: 0in 0in 0pt;"> </p> <p style="margin: 0in 0in 0pt;"><span style="font-family: 'Arial','sans-serif'; font-size: 12pt;"><span style="color: #000000;">“What is a Stakeholder Liaison?”  </span></span></p> <p style="margin: 0in 0in 0pt;"><span style="font-family: 'Arial','sans-serif'; font-size: 12pt;"><span style="color: #000000;">As part of the IRS Small Business/Self Employed Division, they provide tax professionals and the small business community with the latest tax information and resources the IRS has to offer.  </span></span></p> <p style="margin: 0in 0in 0pt;"> </p> <p style="margin: 0in 0in 0pt;"><span style="font-family: 'Arial','sans-serif'; font-size: 12pt;"><span style="color: #000000;">The goal of IRS Stakeholder Liaison is to establish relationships with tax professionals and industry stakeholders.  They </span><span style="color: black;">offer periodic meetings and seminars for the tax professional community designed to share important information about IRS programs and issues.</span></span></p> <p style="margin: 0in 0in 0pt;"> </p> <p style="margin: 0in 0in 0pt;"><span style="font-family: 'Arial','sans-serif'; font-size: 12pt;"><span style="color: #000000;">Before joining Stakeholder Liaison, Eden worked in SB/SE Field Collection for almost 10 years. She has knowledge of IRS policies, procedures and work processes gained during a 25-year IRS career.</span></span></p> <p style="margin: 0in 0in 0pt;"> </p> <p style="margin: 0in 0in 0pt;"><span style="font-family: 'Arial','sans-serif'; font-size: 12pt;"><span style="color: #000000;">Eden has an office in the IRS building in Overland Park, KS, but the quickest way to reach her is through email at </span><a href="mailto:Eden.R.Simpson@irs.gov"><span style="text-decoration: underline;"><span style="color: #0000ff;">Eden.R.Simpson@irs.gov</span></span></a><span style="color: #000000;">.</span></span></p> <p style="margin: 0in 0in 0pt;"> </p> <p style="margin: 0in 0in 0pt;"><span style="font-family: 'Arial','sans-serif'; font-size: 12pt;"><span style="color: #000000;">If you have an issue with an IRS system or process or you can’t find an answer on IRS.gov, just forward your question or a description of your issue to Eden at </span><a href="mailto:Eden.R.Simpson@irs.gov"><span style="text-decoration: underline;"><span style="color: #0000ff;">Eden.R.Simpson@irs.gov</span></span></a><span style="color: #000000;">.  Please do not include your or your clients personal or tax information in any e-mail.</span></span></p> <p style="margin: 0in 0in 0pt;"> </p> <p style="margin: 0in 0in 0pt;"><span style="font-family: 'Arial','sans-serif'; font-size: 12pt;"><span style="color: #000000;">For more information or to find Stakeholder Liaisons in other states, visit  </span><a href="http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Stakeholder-Liaison-Local-Contacts-1"><span style="text-decoration: underline;"><span style="color: #0000ff;">http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Stakeholder-Liaison-Local-Contacts-1</span></span></a><span style="color: #000000;">. </span></span></p> <p style="margin: 0in 0in 0pt;"><span style="font-family: 'Arial','sans-serif'; font-size: 12pt;"><span style="color: #000000;"> </span></span></p> Fri, 06 Feb 2015 12:00:00 EDT How Secure is Your Company? http://www.kscpa.org/about/news/750-how_secure_is_your_company http://www.kscpa.org/about/news/750-how_secure_is_your_company <p>Published January 30, 2015, the Kansas City Business Journal covers CBIZ and its Social Engineering Testing Team; a group of accountants whose work blows away your stereotypes of the profession. </p> <p><a class="file pdf" href="/writable/files/2015/kansas_city_business_journal_01302015.pdf">Trust No One Kansas City Business Journal</a></p> <p> </p> Fri, 06 Feb 2015 12:00:00 EDT The Affordable Care Act: What You Need to Know in 2015 http://www.kscpa.org/about/news/749-the_affordable_care_act_what_you_need_to_know_in http://www.kscpa.org/about/news/749-the_affordable_care_act_what_you_need_to_know_in <p align="center"><strong><span style="color: #000000; font-size: medium;">The Affordable Care Act: What You Need to Know in 2015</span></strong></p> <p><span style="color: #000000; font-size: medium;">What’s new with health care reform? A lot of discussion has arisen about the Affordable Care Act since it was passed, but now that the key provisions of the mandatory health coverage portion of the law are coming into effect, what does it mean to you? The Kansas Society of CPAs offers an update and points out some do’s and don’ts to remember in 2015. </span></p> <p><strong><span style="color: #000000; font-size: medium;">Do Avoid the Penalty</span></strong></p> <p><span style="color: #000000; font-size: medium;">Beginning in 2014, most Americans were required to have minimum essential healthcare coverage. As a result, this year you must report your coverage status for each month of the year on your tax return. Those with qualifying coverage will simply check a box on page two of the Form 1040, but there are new tax forms this year for those seeking an exemption from the coverage requirements or claiming the premium tax credit. If you don’t have coverage and don’t qualify for an exemption, you may face a penalty for the 2014 tax year of $95 per person (and $47.50 for children under 18) or 1% of your household income over the filing threshold, whichever is higher, up to a maximum of $285. Be aware those penalty amounts will rise in future years. </span><span style="color: #000000; font-size: medium;"> </span></p> <p><strong><span style="color: #000000; font-size: medium;">Don’t Miss the Premium Credit</span></strong></p> <p><span style="color: #000000; font-size: medium;">Depending on your income level and other factors, you may be eligible for a premium tax credit that will help you pay for insurance that you buy through a state or federal Health Insurance Marketplace. You can use the credit to pay your insurance premium when you enroll for coverage or wait and claim it on your tax return. </span></p> <p><strong><span style="color: #000000; font-size: medium;">Do Consider Shopping Around</span></strong></p> <p><span style="color: #000000; font-size: medium;">The Health Insurance Marketplace, a central feature of the law, provides coverage choices for those who don’t have insurance and those who have it but are interested in exploring other, potentially lower-cost options. Consumers in every state can set up an account, file an </span><a href="https://www.healthcare.gov/how-do-i-apply-for-marketplace-coverage/"><span style="text-decoration: underline;"><span style="color: #0000ff; font-size: medium;">application</span></span></a><span style="color: #000000; font-size: medium;"> and learn if they’re eligible for lower-cost premiums. The plans are offered by private insurers, and they cover a set of essential health benefits defined by the law. If you have a pre-existing condition, the Marketplace plans must accept you and cover your condition. They are also prohibited from charging different prices based on gender. </span></p> <p><span style="color: #000000; font-size: medium;">The open enrollment period for the coming year ends on February 15, 2015. (You might also qualify for the special enrollment period that lasts up to 60 days after life events such as marriage or the birth of a child or loss of other health coverage.) You are allowed to change plans by the enrollment deadline, so you may want to consider new options that may be cheaper or better suit your needs. And this year, a total of 25% more issuers will be offering plans through the Marketplace than in 2014, increasing the variety of options available, according to the U.S. Department of Health and Human Services. </span><strong><span style="color: #000000; font-size: medium;"> </span></strong></p> <p><strong><span style="color: #000000; font-size: medium;">Don’t Neglect Changes for Business </span></strong></p> <p><span style="color: #000000; font-size: medium;">As of Jan. 1, 2015, companies with 100 or more full-time employees were required to provide minimum, affordable healthcare coverage to most of their workers or face a penalty. Those with more than 50 workers but fewer than 100 may qualify for relief from this requirement for 2015. At the other end of the spectrum, employers with 25 or fewer employees that offer healthcare coverage may be eligible for a small business health insurance credit. Many small businesses can look for insurance through the Small Business Health Options Program (</span><a href="https://www.healthcare.gov/marketplace/shop/#state=new-jersey"><span style="text-decoration: underline;"><span style="color: #0000ff; font-size: medium;">SHOP</span></span></a><span style="color: #000000; font-size: medium;">), a separate marketplace for companies with 50 or fewer full-time employees. Note: If you’re self-employed without any employees, then you would use the individual Health Insurance Marketplace to buy insurance, not SHOP. </span></p> <p><strong><span style="color: #000000; font-size: medium;">Do Consult Your Local CPA</span></strong></p> <p><span style="color: #000000; font-size: medium;">Health care and the cost of health insurance coverage are critical issues for consumers and businesses. For understandable answers and advice, be sure to turn to your local CPA. He or she has the expertise to answer all your most pressing financial questions. </span></p> Fri, 06 Feb 2015 12:00:00 EDT IRS Names Eden Simpson the Stakeholder Liaison for Kansas http://www.kscpa.org/about/news/748-irs_names_eden_simpson_the_stakeholder_liaison_for http://www.kscpa.org/about/news/748-irs_names_eden_simpson_the_stakeholder_liaison_for <h2><img class="justified_right" style="float: right;" src="/writable/images/News/2015NewsImages/eden.jpg" alt="Eden Simpson" width="132" height="187" />“What is a Stakeholder Liaison?” </h2> <p>As part of the IRS Small Business/Self Employed Division, they provide tax professionals and the small business community with the latest tax information and resources the IRS has to offer. </p> <p>The goal of IRS Stakeholder Liaison is to establish relationships with tax professionals and industry stakeholders.  They offer periodic meetings and seminars for the tax professional community designed to share important information about IRS programs and issues.</p> <p>Before joining Stakeholder Liaison, Eden worked in SB/SE Field Collection for almost 10 years. She has knowledge of IRS policies, procedures and work processes gained during a 25-year IRS career.</p> <p>Eden has an office in the IRS building in Overland Park, KS, but the quickest way to reach her is through email at <a href="mailto:Eden.R.Simpson@irs.gov">Eden.R.Simpson@irs.gov</a>.</p> <p>If you have an issue with an IRS system or process or you can’t find an answer on IRS.gov, just forward your question or a description of your issue to Eden at <a href="mailto:Eden.R.Simpson@irs.gov">Eden.R.Simpson@irs.gov</a>.  Please do not include your or your clients personal or tax information in any e-mail.</p> <p>For more information or to find Stakeholder Liaisons in other states, visit  <a href="http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Stakeholder-Liaison-Local-Contacts-1">http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Stakeholder-Liaison-Local-Contacts-1</a>.</p> Fri, 06 Feb 2015 12:00:00 EDT KSCPA Members Honored by the Wichita Business Journal with CFO Awards http://www.kscpa.org/about/news/747-kscpa_members_honored_by_the_wichita_business http://www.kscpa.org/about/news/747-kscpa_members_honored_by_the_wichita_business <p><span style="font-family: Calibri;"><span style="color: #000000; font-size: medium;">The following KSCPA Members have been named </span><span style="color: #000000; font-size: medium;">honorees for the </span><strong><em><span style="color: #000000; font-size: medium;">Wichita Business Journal’s</span></em></strong><span style="color: #000000; font-size: medium;"> 2015 CFO Awards:</span></span></p> <p><span style="color: #000000; font-family: Calibri; font-size: medium;">Congratulations to our members!</span></p> <p><span style="color: #000000; font-family: Calibri; font-size: medium;">David Dorf – HeartSpring</span></p> <p><span style="color: #000000; font-family: Calibri; font-size: medium;">Louise Gerwick – UCI</span></p> <p><span style="color: #000000; font-family: Calibri; font-size: medium;">Debra Jones – AIRXCEL</span></p> <p><span style="color: #000000; font-family: Calibri; font-size: medium;">Todd Matheny – Syndeo</span></p> <p><span style="color: #000000; font-family: Calibri; font-size: medium;">Patty McCullough – Nies Homes</span></p> <p><span style="color: #000000; font-family: Calibri; font-size: medium;">Teema Roberts – Hall’s Culligan</span></p> <p><span style="color: #000000; font-family: Calibri; font-size: medium;">Greg Sandlin – Goodwill Industries of Kansas, Inc.</span></p> <p><span style="color: #000000; font-family: Calibri; font-size: medium;">The awards will be given out on March 3, 2015 at the Hyatt Regency from 11:45am-1:30pm. More information can be found here. </span><a href="http://www.bizjournals.com/wichita/event/120191"><span style="text-decoration: underline;"><span style="color: #0000ff; font-family: Calibri; font-size: medium;">http://www.bizjournals.com/wichita/event/120191</span></span></a></p> Fri, 30 Jan 2015 12:00:00 EDT Minutes from the IRS Stakeholder Liaison Meeting - Janurary 8, 2015 http://www.kscpa.org/about/news/746-minutes_from_the_irs_stakeholder_liaison http://www.kscpa.org/about/news/746-minutes_from_the_irs_stakeholder_liaison <p>Following, please find the minutes from the IRS Stakeholder Liaison Meeting held at the Topeka Country Club on January 8, 2015 and sponsored by the KSCPA.</p> <p><a class="file pdf" href="/writable/files/2015/irs_stakeholder_liaison_meeting_minutes.pdf">IRS Stakeholder Liaison Meeting Minutes</a></p> <p>Welcome, our new IRS Stakeholder Liaison, Eden Simpson, who can be reached at the following:</p> <p style="margin: 0in 0in 0pt;"><span style="font-family: 'Brush Script MT'; font-size: 13.5pt;"><span style="color: #000000;">Eden R Simpson</span></span></p> <p style="margin: 0in 0in 0pt;"><span style="font-family: 'Arial','sans-serif'; font-size: 10pt;"><span style="color: #000000;">Senior Stakeholder Liaison - Field</span></span></p> <p style="margin: 0in 0in 0pt;"><span style="font-family: 'Arial','sans-serif'; font-size: 10pt;"><span style="color: #000000;">6717 Shawnee Mission Pkwy</span></span></p> <p style="margin: 0in 0in 0pt;"><span style="font-family: 'Arial','sans-serif'; font-size: 10pt;"><span style="color: #000000;">Overland Park, KS  66202</span></span></p> <p style="margin: 0in 0in 0pt;"><span style="font-family: 'Arial','sans-serif'; font-size: 10pt;"><span style="color: #000000;">Office:  913-722-7551</span></span></p> <p style="margin: 0in 0in 0pt;"><span style="font-family: 'Arial','sans-serif'; font-size: 10pt;"><span style="color: #000000;">Cell:  816-877-3775</span></span></p> <p style="margin: 0in 0in 0pt;"><span style="font-family: 'Arial','sans-serif'; font-size: 10pt;"><span style="color: #000000;">EFax:  877-885-8510</span></span></p> Fri, 30 Jan 2015 12:00:00 EDT The KSCPA Presents to Washburn University Beta Alpha Psi http://www.kscpa.org/about/news/745-the_kscpa_presents_to_washburn_university_beta http://www.kscpa.org/about/news/745-the_kscpa_presents_to_washburn_university_beta <p>Washburn University's Beta Alpha Psi members invited representatives from Rubin Brown and the KSCPA to present at their first meeting of the year. Kaleb Lilly, Partner and KSCPA member, and Tim Hall, Assurance Supervisor informed the Beta Alpha Psi members on the history of Rubin Brown and how they can become a part of the team.</p> <p><img class="justified_left" style="float: left;" src="/writable/images/News/2015NewsImages/BAPWashburn/5_mistakes.jpg" alt="5 mistakes" width="368" height="269" /></p> <p>Michelle MacBain, Communications and Public Relations Manager, and Danielle Bulson, Deputy to the CEO represented the KSCPA.</p> <p>Michelle presented "5 Mistakes Young Professionals Make." She highlighted the importance of developing solid communication skills while still attending college, the benefits of professional association membership, and urged the group to achieve their respective professional designations.</p> <p><img class="justified_left" style="float: left;" src="/writable/images/News/2015NewsImages/BAPWashburn/untitled.jpg" alt="why a cpa" width="353" height="203" /></p> <p>The KSCPA provided students with resources on scholarships, the 2014 Skyscapes Campus Edition, events and networking opportunities, and "Why a CPA?" cards, designed by the KSCPA Promotion of the CPA Brand Task Force.</p> <p><img class="justified_left" style="float: left;" src="/writable/images/News/2015NewsImages/BAPWashburn/dsc_0179.jpg" alt="Group" width="537" height="361" /></p> <p><img class="justified_left" style="float: left;" src="/writable/images/News/2015NewsImages/BAPWashburn/dsc_0182.jpg" alt="Group 2" width="533" height="179" /></p> <p><br /> <img class="justified_left" style="float: left;" src="/writable/images/News/2015NewsImages/BAPWashburn/dsc_0187.jpg" alt="Michelle BAP" width="539" height="160" /></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> Fri, 30 Jan 2015 12:00:00 EDT KSCPA Coffee Chat with Secretary of Revenue Nick Jordan http://www.kscpa.org/about/news/744-kscpa_coffee_chat_with_secretary_of_revenue_nick http://www.kscpa.org/about/news/744-kscpa_coffee_chat_with_secretary_of_revenue_nick <h3><img class="justified_left" style="margin-right: auto; margin-left: auto; display: block;" src="/writable/images/News/2015NewsImages/KSCPACoffeeChat/09_group.jpg" alt="Jordan and Leg Research Task Force" width="515" height="287" />KSCPA Legislative Research Task Force Visits Kansas Statehouse</h3> <p style="text-align: left;">On January 28th, the KSCPA Legislative Research Task Force met with Kansas legislators and hosted Secretary of Revenue, Nick Jordan, for a KSCPA Coffee Chat.</p> <p><img class="justified_right" style="float: right;" src="/writable/images/News/2015NewsImages/KSCPACoffeeChat/02_walk_to_capitol.jpg" alt="Capitol Visit" width="216" height="275" /></p> <p style="text-align: left;">Marlee Carpenter of Bright and Carpenter Consulting was also on hand to facilitate discussions on the Governor's tax policy with Kansas legislators and members of the Legislative Research Task Force: Bob Schuster, K-Coe Isom; Jay Langley, Clubine & Rettele, Chtd; D. Shawn Sullivan, Allen Gibbs & Houlik L.C.; and Jerry Capps, Allen Gibbs & Houlik, L.C. The Task Force met with Representative Marivn Kleeb, R - Overland Park, Chair of the House Taxation Committee, and Senator Les Donovan, R - Wichita, Chair of the Senate Assessment and Taxation Committee.</p> <p style="text-align: left;">The meetings focused on how the KSCPA leadership can assist the legislature in reviewing legislation and making recommendations. Bills that impact the profession and the organizations served are reviewed and comments are provided to the full Legislative Executive Committee, led by Gary Allerheiligen and Bob Schuster. The LEC also seeks guidance from the KSCPA Taxation Task Force before determining whether to take a position or to testify on a particular bill. Oftentimes, KSCPA members are asked to attend a taxation committee meeting to answer questions about the technical aspects of a bill.</p> <p><img class="justified_center" style="margin-right: auto; margin-left: auto; display: block;" src="/writable/images/News/2015NewsImages/KSCPACoffeeChat/03_mary_and_bob.jpg" alt="Capitol Visit" width="450" height="261" /></p> <h3>KSCPA Coffee Chat with Secretary of Revenue Jordan</h3> <p style="text-align: left;">Following the Statehouse visit, the Task Force returned to the KSCPA offices to host Secretary of Revenue, Nick Jordan, for a KSCPA Coffee Chat. Secretary Jordan was joined by Richard Cram, Director of the Department of Revenue. Following a review of the Governor's 2015 Tax Package, the committee offered questions about the package, including itemized deductions, tax amnesty program, transition from ending balance requirement, rural opportunity zones, and sales tax on services, among others.</p> <p style="text-align: left;"><iframe src="http://cdn.embedly.com/widgets/media.html?url=https%3A%2F%2Fwww.youtube.com%2Fwatch%3Fv%3DsVTUe_PmTes&src=http%3A%2F%2Fwww.youtube.com%2Fembed%2FsVTUe_PmTes%3Ffeature%3Doembed&image=http%3A%2F%2Fi.ytimg.com%2Fvi%2FsVTUe_PmTes%2Fhqdefault.jpg&type=text%2Fhtml&schema=youtube" width="854" height="480" allowfullscreen="" frameborder="0" style="width: 402px; height: 255px; margin-right: auto; margin-left: auto; display: block;"></iframe></p> <p style="text-align: left;"><img class="justified_center" style="width: 364px; height: 366px; margin-right: auto; margin-left: auto; display: block;" src="/writable/images/News/2015NewsImages/KSCPACoffeeChat/08_coffee_chat_5.jpg" alt="Coffee Chat" width="515" height="513" /></p> <p> <img class="justified_left" style="width: 506px; height: 330px; margin-right: auto; margin-left: auto; display: block;" src="/writable/images/News/2015NewsImages/KSCPACoffeeChat/05_coffee_chat_2.jpg" alt="Coffee Chat" width="556" height="388" /></p> <p> <img class="justified_left" style="width: 416px; height: 282px; margin-right: auto; margin-left: auto; display: block;" src="/writable/images/News/2015NewsImages/KSCPACoffeeChat/07_coffee_chat_4.jpg" alt="Coffee Chat" width="566" height="380" /></p> Fri, 30 Jan 2015 12:00:00 EDT