June 2008 | East Bay Chapter Bulletin

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COMMITTEE MEETINGS

Taxation

EB Taxation of Short Sales and Foreclosures. Hear about recourse v. nonrecourse debt, debtor remedies, lender remedies in California and more.
Date: Thursday, June 5
Time: Noon–2 p.m.
Speaker: Scott Haislet, CPA, Esq.
Location: Massimo Ristorante; 1604 Locust St.; Walnut Creek
Cost: $20/member; $25/nonmember. Add $5 after May 30
CPE: 2hours
RSVP: Online or (925) 926-0189

South Bay Discussion Group Series

The EB Chapter South Bay Discussion Group Series is back and the deadline has been extended!  Network, earn CPE and enjoy a delicious lunch. All meetings are noon–1:30 p.m. in Fremont. Cost for each session is $35.  Cost for the series (6 meetings) $150.  Click on the link for more details about each program or visit  www.calcpa.org/EB. See you there!

Dates/Topics:
Wednesday, June 25: Cost Segregation Studies
Wednesday, July 23: Should You Trust a Trust as an IRA Beneficiary
Wednesday, Sept. 24: Prevent Sexual Harassment Claims
Wednesday, Oct. 29: 1031 Special Issues
Wednesday, Nov. 19: Choice of Legal Entities in California
Wednesday, Jan. 21: China and International Issues
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SAVE THE DATE

Past Presidents’ Night and New Member Orientation

Date: Tuesday, July 15

ABC Night

Date: Tuesday, Sept. 16

13th Advanced Estate Planning Symposium

Date: Tuesday, Nov. 4
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other events of interest

CalCPA Co-Sponsors State Bar Annual Income Tax Seminar: Friday, June 20

This nine-hour CPE program will be held at Golden Gate University School of Law; 536 Mission St.; San Francisco; from 8:30 a.m.–5 p.m. Topics include: Property Taxes—Changes of Ownership; Handling Audits with Sensitive Issues; S Corporation Acquisitions; Tax Preparer Penalties; and the Credit Crunch/Real Estate Issues. For the program schedule and registration, go to www.calbar.ca.gov/taxation.

Ascend "Inspiring Across Generations" Leadership

Date: Saturday, June 7
Conference & Gala Dinner, Four Seasons SF
 
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PRESIDENT’S MESSAGE

May You Live in Interesting Times

By Michele Day, CPA

Welcome back! Isn’t it great that busy season is over? (It is, isn’t it?)
   “May you live in interesting times”—an ancient platitude that surely applies to us today.
   As CPAs—knowledgeable, ethical and trusted financial advisers—we’re uniquely positioned to have a positive impact in these “interesting” times, and CalCPA is a powerful vehicle to help us achieve that impact, both personally and professionally.
   It’s been a terrific 2007–08 year with Rob Anderson at the helm.Highlights of his term included another highly successful ABC Night, the new CFO of the Year Award and the zany First Annual Accountant’s Film Festival. Thanks to Rob and the 2007–08 leaders!
   I am truly honored to serve as your chapter president for the 2008–09 year and am privileged to work with such a powerful and enthusiastic leadership team. People have stepped up to new roles and already have started working on your behalf to make the year successful. I am constantly impressed by our chapter members' passion and dedication, and all of the resources that are available to us.
   I am excited about the new year and know, above all else, that chapter events need to be relevant to you to warrant your participation. What I also know is that the synergy that develops as we collaborate makes us each stronger and strengthens our firms and the chapter as well. This year, I propose we focus on:
   Relevance—How can we make the chapter even more valuable to you? Please let me or any of the chapter leaders hear from you about this and how you’d like to be involved!
   Involvement and inclusion—Let’s set a goal of having at least six new guests or colleagues at each dinner meeting and three new attendees at our interest groups. This can be a great relationship-builder with your clients and other financial professionals. Invite them to our meetings. Even if they can’t attend, being invited can mean a lot and can enhance your reputation as a cutting-edge professional who cares about your clients. Remember the CAP card—if you use it, your guest’s registration fee will be half off!
   Financial Literacy—Let’s be instrumental in bringing at least two Financial Literacy workshops to the broader community, in addition to the programs that are currently active in the schools. Do you know of a group that would benefit from such a presentation? A senior center, church, or other community group? We have enthusiastic volunteer presenters and great materials—and the programs are free!
   Accounting Education and Scholarships—We’ll be supporting incoming CalCPA chair Greg Burke’s initiative in this area. More on this as Greg rolls out his program.
   As the chapter year begins, there have already been many opportunities  to be involved and step out of the day-to-day grind:

• The Financial Literacy Summit
• CPA Day at the Capitol (thanks Weldon for the carpools!)
• YEP Conference
• Business and Industry CFO roundtable … (thanks Jenise and Patt for organizing!)
• Leadership Team installation and murder mystery play dinner

And many more opportunities are on the way!
   It’s going to be a great year, I encourage you to participate and invite others, and I look forward to seeing you. May you thrive in interesting times! P.S. Did I mention let’s have FUN while we’re at it?
—Michele Day, CPA
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CHAPTER NEWS

New Members

On behalf of the East Bay Chapter’s officers, directors and members, we extend our warmest of welcomes to our new members: Steven Croft, Matthew DePretis, John Fulkersonn... [see all new members]

Member Anniversaries

Congratulations to the following members who are celebrating their anniversaries in June.

Member News

Dan Boele attended the Financial Literacy Summit, along with about 499 others. Dan says that financial literacy is “something that has been much needed in schools’ curriculum since the invention of the credit card.”
May’s Business & Industry meeting featured an outstanding panel of three CFOs from distinctly different backgrounds and had more than 25 attendees. Essentially, the panel espoused the theory that there really isn’t one job description for a CFO—or that any one type of individual is best-suited to act as a CFO.

Miranda Beasley and Ching Fong represented the chapter at scholarship award ceremonies at Diablo Valley College and Cal State University East Bay.

Michele Day attended a Town Hall meeting hosted by a local assemblyman a couple of weeks ago, and in doing so made a contact that may result in our chapter presenting financial literacy programs to a group of his constituents. Additionally, another legislator at the meeting commented that CalCPA is a powerful presence in the Capitol.

Tom O’Sullivan attended the YEP Conference in San Francisco, which was a jam-packed event with many inspiring takeaways, e.g., the importance of being a trusted adviser to your clients and yourself,how your integrity, passion and commitment go with you wherever you go and the value of consistently persevering toward your goals.

Check out the new columns and articles that will be in your newsletters about chapter resources and state-level committee activities of relevance to YOU!

DID YOU KNOW?

Professional Conduct Committee

Many resources are available to you at the chapter level. For example, do you know that our Professional Conduct Committee is available to help you sort through ethical questions?
   As you probably know, ethical questions can be directed to CalCPA’s statewide Ethics Hotline at (800) 922-5272, Option 8. The East Bay Chapter Committee on Professional Conduct is an additional resource.
   Some ethical issues are complicated and involve not only a technical interpretation of the AICPA code, but also need to consider the question of: “What do I do now?” Ethical issues often involve doing the right thing while retaining the client relationship
   The EB CPC chair is available to listen to your “story,” and, in conjunction with the ethics hotline, offer positional ethical and business solutions. All discussions are confidential.
   To reach the EB CPC chair, contact: Don Glenn at Glenn & Dawson LLP, (925) 945-7722
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CalCPA NEWS

And the Winner Is ...

Congratulations to Jerry Butterfield of the San Joaquin Chapter, who won the free VP membership courtesy of the Education Foundation. And thank you to everyone who has renewed.
   If you haven’t already renewed—your dues were due May 1—now is the perfect time.
   It only takes a minute, www.calcpa.org/renew

2008 National MAP Survey: New and Improved

Find out how your firm stacks up against others by taking part in the PCPS/TSCPA National MAP Survey, which covers key practice management issues, from billing rates and salaries to services as a percentage of fees.
   Survey results will allow you to compare your firm’s management policies and financial results to other firms; gain strategic guidance to build a more profitable and rewarding practice; and help make core business decisions.
   Changes to this year’s survey include 40 percent fewer questions; targeted and “user-friendly” results; a free summary results report for all participants; and results made available months earlier than in previous years.
   The summary report will contain an extract of the survey’s key performance metrics, such as number of hours charged/compensated, major income statement statistics and more. The comprehensive report, available for purchase and free to PCPS members, will include all of the performance metrics crossed against many relevant comparison groups, as well as additional ratios and statistical analyses.
   The survey is open through July 11.
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