November 2007 | East Bay Chapter Bulletin

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DISASTER RESOURCES

What to Do in an Emergency

Whether you or a client has been affected by the Southern California fires, CalCPA has resources to help you through the crisis, including comprehensive tax resources and other important disaster recovery information.
   CalCPA also is coordinating volunteer efforts to assist victims of the Southern California wildfires—and we need your help.
   There are opportunities for CPAs statewide to provide pro bono financial and tax assistance to fire victims who are in need. Even if you are not in Southern California, you can sign up to offer assistance by phone.
   Each volunteer receives a comprehensive Volunteer Handbook that contains virtually everything you’ll need—especially when combined with your professional expertise—to assist fire victims.
   To volunteer, update the volunteer portion of your personal profile.
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CHAPTER EVENTS

12th Annual Advanced Estate Planning Symposium

Hear the latest developments and tax law updates, including a post-mortem trust administration checklist; generation-skipping trusts: allocation benefits and pitfalls; and discounting undivided interests in real property. Speakers: Keith Schiller, JD; Robert Temmerman, JD; Michael Jones, CPA; Katherine Rauch, CPA; and David Eckstein, CFA
Moderator: Anna Maria Galdieri
Date: Tuesday, Nov. 6
Time: 11:30 a.m./registration and lunch; Noon–5:15 p.m./program
Location: Round Hill Country Club, Alamo
Cost: By Oct. 31: $110 (after Oct. 31: add $10)
CPE: 6 hours (MCLE: 5 hours; LS-EP: 5 hours)
RSVP: Online

Tax Night

Our December chapter meeting will feature Gary McBride, JD, CPA, professor and director of the graduate tax program, California State University, East Bay, who will discuss the 2007 Small Business Act.
Date: Tuesday, Dec. 4
Time: 6 p.m./reception; 6:30 p.m./dinner
Location: Lafayette Park Hotel
Cost: By Nov. 27: $45 (after Nov. 27: add $10)
CPE: 1 hour
RSVP: Online

Tax Issues in Divorce Mini-Conference

Join the East Bay Chapter Litigation Committee and the Contra Costa County Bar Association at their 4th Annual Tax Issues in Divorce Mini-Conference. Topics include: Property tax deductibility & carry-over value; Section 121 clauses; Mortgage interest; AMT; Domestic Partnership; Recharacterized child support and more.
Speakers include: Beverly Brautigam, Hal Bartholomew, Mary Kay Foss, Leslie Dawson, Hank Levy and Karen Hawkins.
Date: Wednesday, Jan. 23
Time: 11:30 a.m./registration; 12:15–5:15 p.m./program
Location: Crowne Plaza Concord; Concord
CPE: 4.5 hrs; MCLE 4 hours; LS (Taxation and Family Law) 4 hours
Cost: $90 Conference only; $110 Conference and box lunch; add $25 after Jan. 12.
RSVP: Conference with Lunch or Conference Only (no lunch)
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COMMITTEE MEETINGS

Business & Industry

Topic: Why Qualified Plans Are Better for All Business Owners
Hear how recent changes in the law have created new opportunities for safe harbor 401(k), profit sharing, defined benefit and individual 401(k) plans and the business owners who contribute to them. This meeting will help you add more value to your clients and businesses.
Date: Wednesday, Nov. 7
Speakers: Dave W. White, CLU, ChFC and Nona Belous, CSA, David White & Associates
Time: 7:30–9:30 a.m.
Location: Scott’s; Walnut Creek
CPE: 2 hours
RSVP: Online

Contra Costa Discussion Group

Topic: Section 409(A) and Non-qualified Plans: What Your Clients Don’t Know Could Hurt Them
Speaker: Robert J. Waldron Jr., Private Wealth Adviser
Date: Wednesday, Nov. 14
Location: Massimo’s; Walnut Creek
CPE: 1 hour
RSVP: Online

North Bay Discussion Group

Topic: The Scope and Impact of Philanthropy Today
Speakers: Sean Stannard-Stockton, CFA, CAP and Eric DePaepe, CAP; Ensemble Capital Management, LLC
Date: Thursday, Nov. 15
Location: Downtown Joe’s; 902 Main St.; Napa
Time: 7:45 a.m./registration: 8 a.m.–9 a.m./program
Cost: $11/per person (includes breakfast)
CPE: 1 hour
RSVP: By Oct. 16 to Chal, Amy or Misty at (707) 257-7281 or cdaniels@rr.firstallied.com

Bay Area Regional Education Events

Topic: California Taxation for Individuals
Speaker: Kathleen K. Wright
Date: Monday, Nov. 5
Time: 8:30 a.m.–4:30 p.m.
Location: Crowne Plaza Foster City; 1221 Chess Drive; Foster City
Cost: $140/members; $190/nonmembers
CPE: 8 hours (6.5 hours MCLE)
RSVP: Online or contact Jane Dunbar, Peninsula Silicon Valley Chapter program associate

Topic: Tax, Bankruptcy and Financial Problems: What to Do When Bad Things Happen to Good Clients
Bad financial things can happen to the best of clients. This course explores the tax impact of bankruptcy, divorce, foreclosure, repossession, debt cancellation, and asset protection. Emphasis is given to controlling and eliminating the economic cost of such crisis matters. Methods to anticipate and prevent tax and financial problems will be reviewed and compared. Pre-emptive asset protection, gifting, title and estate planning will be discussed.
Speakers: Arthur Werner, JD
Date: Saturday, Jan. 19
Time: 7:30 a.m./registration; 8 a.m.–4 p.m./program
Location: Waterfront Plaza Hotel, Oakland
Cost: By Jan. 8: $125/members; $175/nonmembers (after Jan. 8: add $15)
CPE: 8 hours (6.5 hours MCLE; 2 hours Family Law; 6.5 hours Taxation Law; 8 hours CTEC Federal; 8 hours Enrolled Agents)
RSVP: Online or contact Soco Davenport, East Bay Chapter program associate.

South Bay Discussion Group Fall Series

Topic: Six Steps to Financial Planning
Speaker: Riley Etheridge
Date: Wednesday, Nov. 28
Time: Noon–1:30 p.m.
Location: Massimo’s, Fremont
RSVP: Online

Topic: Overview of Compliance Strategy and Tax Gap
Speaker: Sheryl Parker
Date: Wednesday, Jan. 23
Time: Noon–1:30 p.m.
Location: Massimo’s; Fremont
RSVP: Online
Cost: $35/each session; $100/series

 

SAVE THE DATE

Young Emerging Professionals

Date: Thursday, Dec. 6
Location: Ice Skate; Walnut Creek
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PRESIDENT’S MESSAGE

Keeping Occupied

By Rob Anderson, CPA

Is it me, or has Oct. 15 become a significant deadline for those of us in a tax practice? I am amazed we are nearing year-end, and it seems busy season has never ended. What a great time to be a CPA! What a great time to get involved in or give back to your profession!
   We held our second annual ABC Night in September. Once again, the event was a full house and gave attendees the opportunity to catch up with others in our profession, as well as bankers, attorneys and other financial professionals in our community. We had more than 200 attendees again this year, and everyone was well-fed (and well-watered) and enjoyed the opportunity to connect with others in the East Bay business community.
   Also in September we joined the San Francisco Chapter in the annual golf tournament at Harding Park Golf Course. This event was just shy of a sellout. The weather was perfect. The course was perfect. The golf, well … let’s just say that significant monies went into our scholarship fund. While the East Bay Chapter represented the minority of the field, our presence was felt. The team put together by our own Scott Haislet (chapter secretary) finished high in the tournament. The team put together by yours truly, featuring past president (and third-time golfer) Rob Healy, Steve Willis (event chair) and CPA/attorney Steve Leutza had a terrific time, enjoyed the dinner and almost won a few raffle prizes. Don’t miss this event next September.
   As many of you know, our chapter gives scholarships to a number of students each year. Please direct any potential scholarship recipients to our website for the application forms. These will be reviewed soon to determine the recipients.
   On the evening of Jan. 22, we plan to hold our first Honorees Night to give recognition to our scholarship recipients. Also, we will give the Laverne Garcia Award to one of our members that evening to recognize contributions to our community. Finally, we will recognize, for the first time, the East Bay CPA Executive of the Year. We expect this to become an annual event to celebrate the CPA leaders of the future, along with those who have made significant contributions to our profession and community during their careers. Look for more details soon.
   Don’t miss the opportunity to attend our upcoming events, including:

• Tax Night with Gary McBride, Tuesday, Dec. 4 at the Lafayette Park Hotel
• The annual ice skating event sponsored by the Young and Emerging Professionals Committee in Walnut Creek, Thursday, Dec. 6
• The BARE event Saturday, Jan.19. The topic will be “Tax, Bankruptcy and Financial Problems: What to Do When Bad Things Happen to Good Clients”
• The ever-popular annual Tax Issues in Divorce Mini-Conference Wednesday, Jan. 23 in Concord.
• Our annual State of the East Bay (and the profession) luncheon Wednesday, Jan. 30. This year we will hear from Bruce Allen, CalCPA’s director of government relations, and CalCPA CEO Loretta Doon.

   So, there you have several opportunities to keep you occupied between now and the 2008 busy season.
   Please don’t hesitate to e-mail or call me (925) 296-1007 with your comments and suggestions.
—Rob Anderson, 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: Clarissa Alfaro, Iris Avena, Debra Boyce... [see all new members]

Member Anniversaries

Congratulations to our members who are celebrating their anniversaries this month.

Scholarship Applications Being Accepted

It’s time to apply for the East Bay Chapter’s 2007–08 scholarships. During this past year the chapter awarded close to $20,000 to students attending East Bay colleges.
   The scholarship application deadline is Wednesday, Oct. 31. Selected applicants will be contacted for an interview, and scholarships will be awarded at Honorees Night (formerly known as Scholarship Night) Tuesday, Jan. 22.
   Thanks to our generous scholarship fund donors who make this possible. The chapter also matches any contribution of $500 or more and awards a scholarship in the name of the donor.
   To donate directly to the chapter’s scholarship fund, send a check payable to CalCPA Institute; East Bay Chapter to: Attn: Soco Davenport; 1235 Radio Road; Redwood City, CA 94065.
   Download more information or call (925) 926-0189.
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CalCPA NEWS

Leaders Wanted: Become a CalCPA Officer or AICPA Council Member

You are the driving force behind one of the world’s largest economies. Isn’t it time you put your leadership skills to use for the betterment of the CPA profession?
   The CalCPA Nominations Committee is accepting nominations until Dec. 1 for 2008–09 CalCPA officers and council members at large. Officer positions include chair, first vice chair, treasurer and two vice chairs. Three council members at-large also will be elected.
   Members can apply for more than one office and will be considered only for the positions to which they apply. Download a nomination form, review job descriptions and ideal leadership characteristics.
   For more information, contact John Angelo or Nominations Committee Chair D. Paul Regan.

Another Way to Serve—AICPA Council

If you’re an AICPA member and interested in representing your peers on AICPA Council, let us know. The Nominations Committee will recommend candidates to AICPA Council, which establishes AICPA policies and procedures, and enacts resolutions that are binding on the board of directors, officers, committees and staff.
   If you’re interested, send a letter of intent and your professional and volunteer history to: Nominations Committee; c/o D. Paul Regan, chair; 330 N. Brand Blvd., Suite 710; Glendale, CA 91203.
   All letters must be received by 5 p.m. Dec. 1. The AICPA makes the final selections.

CalCPA Member Discounts on CCH Tax Guidebooks

CalCPA has added another great member benefit—discounts on CCH’s U.S. Master Tax Guide 2008 and the Guidebook to California Taxes 2008.

The U.S. Master Tax Guide 2008 reflects all pertinent federal taxation changes that affect 2007 returns and provides fast and reliable answers to tax questions affecting individuals and business income tax. The guide also conveniently cross-references the Internal Revenue Code, Income Tax Regulations and certain other important tax law sources for further research. The expected ship date is late-December 2007.

The Guidebook to California Taxes 2008 reflects significant new legislation, regulations, court decisions and state Board of Equalization decisions through December. The expected ship date is late-January 2008.

Order your copies:
2008 U.S. Master Tax Guide: $41/members; $61/nonmembers.

2008 Guidebook to California Taxes: $39/members; $59/members.
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RESOURCES:

East Bay Chapter Leadership