September 2007 | Los Angeles Chapter Bulletin

TOOLS

 

CHAPTER EVENTS

Board of Directors Meeting

Date: September 13
Time: 8-10 a.m.

Multistate Taxation in Trust Administration

The choice of trust situs can have complex and significant income and estate tax implications. The tax issues are further complicated when any of the persons involved with the trust, grantor, trustee, administrator or beneficiaries, reside in different states. With the California Franchise Tax Board’s aggressive stance toward taxation of out-of-state trusts, multistate taxation issues are of great importance to CPAs and other advisers.
   Join us as our speakers discuss the pertinent issues and describe the current landscape and potential pitfalls involved in dealing with the complex issues of multistate taxation of trusts.
 
Speakers: Kenneth A. Feinfield, Esq., managing director and chief fiduciary officer, Wilmington Trust; Michael S. Fredlender, CPA, principal shareholder of Michael S. Fredlender CPA, A Professional Corporation
Date: Wednesday, Sept. 19
Location: Olympic Collection; 11301 Olympic Blvd.; West Los Angeles
Cost: By Sept. 14: $30/members; $40/nonmembers (after Sept. 14 add $10)
RSVP: Online

6th Annual Technology & Paperless Demo Day

Topic: Intro to Paperless, Practical Implementation, Developing Workflow, and specific paperless tools
Speakers: Various
Date: Tuesday, Sept. 18
Time: 7:30 a.m. - 4 p.m.
Location: Handlery Hotel, 950 Hotel Circle North
CPE: 6 hours
Cost: $30/Members; $40/Nonmembers (after Sept. 5: add $10)
RSVP: Online


September Discussion
September Technical
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SAVE THE DATES

13th Annual Tax Night

Date: Tuesday, Nov. 6
Location: Marriott Hotel Los Angeles Downtown

Sixth Annual Attorney-Banker-CPA Networking Breakfast

Date: Tuesday, Nov. 13
Location: Olympic Collection; W. Los Angeles

Eight-hour CPE Program: Audit Standards

Date: Monday, Dec. 3
Location: Luxe Hotel; Los Angeles

Tax Day LA

Date: Thursday, Dec. 6
Location: Universal Hilton

Taxation Committee Annual IRS Liaison Meeting

Date: Thursday, Dec. 13

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PRESIDENT’S MESSAGE

When Summer is Gone, Let the Smile Remain

By Violeta Cristobal, CPA

With summer almost at a close and the mad rush of fall quickly approaching, I am smiling in appreciation of the pleasurable summer days I spent doing business in New York, the time spent with treasured family and friends and the joy of catching up on all the books I rarely find time to read. The summer proved to be both a rejuvenating and fulfilling time for me. I hope it served you all as well, and I thank the great and mighty Sandy and Delia, our chapter program associates, who stood at the helm and kept a watchful eye over the chapter during my absence.
   Take a deep breath and fasten your seatbelts as another tax season comes barreling toward us. We all know the drill: roll up the sleeves, work late hours and call our clients to remind them that we need their K-1s to meet the tax deadlines. We all have the dates embedded in our heads and marked on our calendars: the extended corporation tax is due Sept. 15 and the individual income tax returns are due Oct. 15. This time of year too easily overwhelms and tires CPAs, consuming us with worry about making it through another season. It’s far too easy to stop smiling. May I suggest an alternate approach?
   As radical as it sounds, could we save the aggravation and panic for some other lifetime? Let us resolve to know that the deadlines will be met, probably just in the nick of time, but as always, they will be met. Let us send gentle and friendly client reminders for 2007 tax planning and projection. And most importantly, let us take care of ourselves in the process.
   For me, a simple and powerful action has the ability to transform my workday. I start my day with running. The release of endorphins is like a magic elixir to my body that makes me better equipped to handle the pressures and expectations of the busy day. Beyond that, I meditate and seek a sense of calm among the storm. And voila! The smallest change can reap the greatest benefit.
   When all else fails and I feel the urge to buckle under the weight of it all, I silently celebrate how far technology has taken this profession. The mere convenience of e-filing deserves thunderous applause. I recall standing alongside the many familiar faces of other practitioners in long, slow lines at the post office in a mad rush to meet the Oct. 15 deadline. My husband, bless his heart, would patiently wait outside to drive me home to a rare night of decent sleep. E-filing has saved me from all of that, which indeed makes me smile. I am forever grateful to those who made such technological conveniences available to us. For those of you who have yet to take part in the luxury of e-filing, I urge you to make the transition. Ask CalCPA members for help. Do not procrastinate. The time is now. I am not exaggerating when I say that it will change your life.
   After 20 years of doing taxes, and for some of you much longer, at the end of the day, at the end of the season, we all finish on time, breathing relief. As CalCPA members, we know that our professional lives carry cycles of hard work and hurdles, but at the end of the season, the reward is fulfilling. We help our clients reach business and personal success. We develop and sustain lasting and meaningful relationships with our clients. These great friendships translate into many referrals. And we continue to grow.
   We must never stop growing and nurturing our profession. To that end, please join us Oct. 19 at the Intercontinental Hotel in Century City from 10 a.m. to 6:30 p.m. to celebrate women CPAs. Expect a day of leadership development, professional growth and recognition while earning CPE. Take advantage of the opportunity to network and connect with powerful and successful women CPAs and enjoy the powerful and inspirational speakers we have invited. Find more information and register online.
   I look forward to seeing you there, celebrating the end of the season alongside your fellow chapter members.
   I am thrilled to announce that we launched our mentoring program last month. Mike Allmon, chair of the mentoring program, is eager to share the process and power of mentoring and looks forward to working with his committee volunteers. He is waiting for your call. Remember Mission 10,000 and sponsor a student or students.
   We are lucky to be CPAs, and even more lucky to have access to CalCPA. Every resource and project, no matter how big or small, is just a click away. Please take advantage and soar within our great industry. Your active participation in CalCPA makes us stronger.
   For comments or suggestions on how to serve you better, please contact me. Remember our mission: 10,000 members. Let us journey on—stronger, wiser and brimming with gratitude (and endorphins!). Can you see me smiling? I hope you are, too.
–Violeta Cristobal, CPA
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CHAPTER NEWS

Volunteers Needed: Love Ride 24

Registration is open for the Nov. 11, 40-mile motorcycle fund-raiser that sponsors more than 25 charities, including The Los Angeles Times’ literacy initiative, “Reading By 9,” the Muscular Dystrophy Association and others.
   Sign up online.
 

Chapter Leadership Applications

Got some great ideas? Interested in contributing to the profession? Here’s your opportunity to make a difference. We are accepting applications for chapter leadership positions.
   If you, or someone you know, are qualified to serve as an officer, director or CalCPA Council representative, submit the contact information to chapter program associate Sandy Benitez or fax the application to (818) 246-4017. All responses will be reviewed by the chapter’s Nominations Committee.
   Nominees will be selected on criteria including prior committee or discussion group involvement, previous leadership positions held in chapter or state activities, professional or community involvement, leadership abilities and interest to serve.
 

Networking Mixer Success

We would like to thank ADP Small Business Services whose generous sponsorship helped make this event a success.
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CalCPA NEWS

Celebrating Women CPAs

Join us for a day of leadership development, professional growth and recognition as we celebrate California’s women CPAs and their tremendous contributions to the profession.
   Attend Celebrating Women CPAs and leave with:

• A clear vision of the ascent of women within the CPA profession;
• Social and professional connections to last a lifetime;
• Action steps to effect social change;
• Keys to excelling as a mentor; and
• Strategies and tactics for managing and resolving conflict.

   Confirmed notable speakers include California Assemblymember and CPA Fiona Ma and Judy Olian, dean of UCLA’s Anderson School of Management.
   Don’t miss this phenomenal event, Friday, Oct. 19, at the Intercontinental Hotel in Century City.
   Register online today or call (800) 922-5272.
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RESOURCES:

Los Angeles Chapter Leadership