December 2007 | East Bay Chapter Bulletin

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ADDITIONAL CHAPTER EVENTS

South Bay Discussion Group Fall Series

The biggest issue faced by the IRS today is the tax gap. The tax gap represents, in dollars, the annual amount of noncompliance with our tax laws. This session will focus on three components of the tax gap: non-filing, underreporting and underpayment.
Topic: Overview of Compliance Strategy and Tax Gap
Speaker: Sheryl Parker, IRS
Date: Wednesday, Jan. 23
Time: Noon–1:30 p.m.
Location: Massimo’s; Fremont
Cost: $35/each session
RSVP: Online

Chapter Board Meetings

Dates: Tuesday, Dec 4; Tuesday, Jan 22
Info: Chapter program associate Soco Davenport
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PRESIDENT’S MESSAGE

Comings and Goings

By Rob Anderson, CPA

I attended the 12th annual Advanced Estate Planning Symposium held at Round Hill Country Club Tuesday, Nov. 6, and it was very well-attended and well-received by a variety of advisers, including CPAs, attorneys, trust officers and financial planners. In addition to offering a wealth of information, the event was a terrific opportunity to make new connections and catch up with friends in the community.
   The event sponsors, The Mechanics Bank, the East Bay Community Foundation and the John Muir Health Foundation, each donated $500 to establish a chapter scholarship to be awarded in honor of Mary Kay Foss. Thanks to Anna Maria Galdieri for organizing this outstanding event each year. Check out some photos.
   CalCPA’s Council met Nov. 7 and discussion items included a strategic planning session aimed at determining how CalCPA can best serve its members. We also heard a legislative update on how California can take steps to resolve the “mobility issue” and allow California CPAs to practice in other states without administrative burdens, such as fees and registration. Practicing in other states can be as simple as filing a tax return in another state for a client residing in California and owning a rental property in another state. You will hear more about this important issue in the coming months.
   We also had the opportunity to hear Tom Campbell, dean of the Haas School of Business at the University of California, Berkeley. Among his many accomplishments, Tom is a former state senator and United States congressman, as well as a public member of AICPA’s board. Tom described himself as an “honorary CPA.”
   Tom discussed the federal and California deficits and how current procedures for establishing budgets and spending limits make it difficult to cut spending. He believes a stronger, third political party would help change these procedures. Also, term limits at the federal level could be part of the solution. These are interesting observations from someone who has been there.
   Tom also talked about the need to have more accounting professors, specifically accounting Ph.D.s. The lack of teaching Ph.D.s in accounting is a crisis. The gap in pay between accounting Ph.D.s and their equivalents in the business world is too wide and much wider than in other disciplines. A solution is to raise endowment dollars to attract more highly educated accountants to academia.
   Don’t forget the upcoming opportunities to improve yourself, do some networking and have some fun at chapter events. For those of you who prefer to operate from a checklist, here’s what’s coming up:

• Tuesday, Dec. 4: Tax Night with Gary McBride at the Lafayette Park Hotel.
• Thursday, Dec. 6: Get a little exercise at the annual ice skating event in Walnut Creek sponsored by the Young Emerging Professionals Committee (beware of Bob Johnston).
• Saturday, Jan. 19: Arthur Werner, JD, will discuss “What to Do When Bad Things Happen to Good Clients” at the BARE continuing education event.
• Wednesday, Jan. 23: Sign up early for the annual Tax Issues in Divorce miniconference in Concord. We expect this to sell out.
• Tuesday, Jan. 22: Plan to attend our first “Honorees Night.” This will be an opportunity to meet scholarship recipients—our future professionals and leaders. We will also award the Laverne Garcia Award to one of our members to recognize their contributions to our profession and community. Finally, we will award the first “East Bay CPA Executive of the Year” award.
• Wednesday, Jan. 30: Learn about the state of the East Bay, California and our profession at our annual “Partners Forum.” The lunch will be at Scott’s in Walnut Creek. This year we will hear from CalCPA CEO Loretta Doon and Bruce Allen, CalCPA’s director of government relations. The important mobility issue mentioned above will certainly be addressed.

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: Sandra Collier, Brian Foster, Youssef Kubis... [see all new members]

Member Anniversaries

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

Nominations Wanted for CPA Executive of the Year

Nominations are being accepted for the chapter’s first CPA Executive of the Year award. Download the nomination form, which contains award criteria. The winner will be announced at Honorees Night Tuesday, Jan. 22.
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CHAPTER EVENTS

Tax Night

The 2007 Small Business Act includes changes affecting individual and business clients, ranging from the “kiddie tax” and business tax incentives to S Corporation reforms, as well as tough new tax preparer penalty standards. What do those changes mean for you?
   To help answer that question, this year’s Tax Night will feature Gary R. McBride, JD, LLM (taxation), attorney and CPA—one of the most sought-after speakers around. McBride is a professor and director of the Graduate Tax Program at California State University, East Bay, as well as an award-winning speaker for the California CPA Education Foundation.
   The event will start with social time where you can mingle with old friends—and make new ones. This is sure to be a festive—and informative—event that you won’t want to miss!

Date: Tuesday, Dec. 4
Time: 6–8 p.m.
Location: Lafayette Park Hotel & Spa
Cost: $55
CPE: 1 hour
RSVP: Learn more/register

Honorees Night

Join us for a night of recognition and celebration at our first Honorees Night (formerly known as Scholarship Night). Scholarships will be awarded to the best and brightest students at East Bay universities, and an outstanding East Bay Chapter member will be presented the Laverne Garcia Award for making contributions to the profession and the community. In a new category this year, the chapter will present its first “CPA Executive of the Year” award to a member who demonstrates exemplary leadership or community service. Nominations are being accepted. Download the form and nominate someone today.
Date: Tuesday, Jan. 22
Time: 6–8:30 p.m.
Location: Hilton Garden Inn; Emeryville
Cost: $55/member; $65 nonmember by Jan 15; Add $10 thereafter
RSVP: Learn more/register

New Member Orientation

New members and others interested in learning more about CalCPA and the East Bay Chapter are invited to the New Member Orientation preceding the Honorees Night event. You will also be meeting the movers and shakers who make things happen in the chapter—and Teresa will speak at the orientation specifically on topics concerning new members.
Date: Tuesday, Jan. 22
Time: 5:15-6:15 pm
Location: Hilton Garden Inn, Emeryville
Cost: Free
RSVP: Learn more/register

Ice Skate Social

Get the dust off those ice skates and join the Young and Emerging Professionals at the outdoor ice skate rink in Walnut Creek. The fun will start at McCovey’s with free soft drinks and hors d’oeuvres. Then it’s a short walk to the rink. Everyone is invited to join in the fun.
Date: Thursday, Dec. 6
Time: 5:30 at McCovey’s; 6:45 p.m. at ice rink
Cost: $11 (ice skate rental included)
RSVP: Learn more/register
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COMMITTEE EVENTS

Technology Committee

It’s time to get your technology questions answered. The chapter’s Technology Committee is holding its annual Technology Roundtable and pre-tax season tune-up. John Levy and Jim Sanders will answer your questions on almost any area of technology.
   Bring your questions and a brown bag lunch. We will also hold a brief planning session at the end of the program to identify what we want for next year.
Date: Thursday, Dec. 13
Time: 11:30 a.m.–1:30 p.m.
Location: John Levy’s office; Walnut Creek
Cost: Free
RSVP: Learn more/register

Bay Area Regional Education Events

CalCPA’s San Francisco and East Bay chapters will hold their BARE events back-to-back. Sign up for one class, or sign up for both and get 16 hours of CPE between Friday, Jan. 18 and Saturday, Jan. 19. Don’t miss out on this great opportunity!

Topic: Federal Taxation of Partnerships & LLCs: Operations & Allocations
Topics: California and federal tax compliance issues involving partnerships, LLCs and LLPs; partner/LLC member loss limits; partnership allocations under IRC Sec. 704(b); and forward and reverse allocations involving built-in gain or loss property under IRC Sec.704(c); allocations of liabilities
Speaker: Gary McBride, JD, LLM, CPA, director of the Graduate Tax Program at Cal State University East Bay
Date: Friday, Jan. 18
Time: 8 a.m./registration; 8:30 a.m.–4:30 p.m./program
Location: SFSU Downtown Center; 835 Market St., 6th floor; San Francisco
Cost: $125/members; $175/nonmembers (after Jan. 8: add $15)
CPE: 8 hours (6.5 hours MCLE)
RSVP: Learn more/register

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.
Speaker: Arthur Werner, J.D.
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: Learn more/register
Thank you to the Education Foundation for donating the class. Proceeds will benefit the Bay Area chapters’ scholarship funds.

Tax Issues in Divorce Mini-Conference

Join the East Bay Chapter Litigation Committee and the Contra Costa County Bar Association at their Fourth Annual Tax Issues in Divorce Miniconference.
   Topics include property tax deductibility and carry-over value; Sec. 121 clauses; mortgage interest; AMT; domestic partnership; re-characterized child support and more.
Speakers: 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 hours (4 hours MCLE; 4 hours LS/Taxation and Family Law)
Cost: By Jan. 12: $90/conference only; $110/conference and box lunch (after Jan. 12: add $25)
RSVP: Choose one: Conference with Lunch or Conference only. Questions? Call (925) 926-0189
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CalCPA NEWS

CalCPA Member Discounts on CCH Tax Guidebooks

CalCPA members can order CCH’s U.S. Master Tax Guide 2008 and the Guidebook to California Taxes 2008 at significantly discounted rates:

2008 U.S. Master Tax Guide (Expected ship date, late-December 2007): $41/members; $61/nonmembers.

2008 Guidebook to California Taxes (Expected ship date, late-January 2008): $39/members; $59/nonmembers.

Order today.
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RESOURCES:

East Bay Chapter Leadership