May 2008 | Peninsula Silicon Valley Chapter Bulletin

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CalCPA NEWS

CPA Day at the Capitol

Help legislators understand key issues facing California CPAs including the importance of CPA mobility and achieving substantial equivalency in our state. California is a part of a national effort to remove unnecessary barriers to providing services across state lines, which is unjustly costly to the clients of CPAs and may in fact interfere with consumer choice.
   The connections you make will prove to be crucial in educating legislators and their staff before they vote on issues important to you as a California CPA.
   You will establish meaningful relationships that ultimately will create a more favorable business environment for CPAs throughout California.

Date: Tuesday, May 13
Time: 9:30 a.m./registration; 10–11 a.m./issues briefing; 11 a.m.–3 p.m./appointments with legislators; 3:30–4 p.m./debrief
Location: Sheraton Grand Sacramento; Sacramento
RSVP: Online

 

CHAPTER EVENTS

2008 Asia Business Forum

China has become one of the fastest-growing markets in the past decade, and an increasing number of U.S.-based companies have established significant manufacturing and sales operations within the country.
   Our 2008 Asia Business forum will explore economic, accounting, tax, legal and cultural issues that are important to U.S. companies considering or establishing a presence in China.
   This event is co-hosted by CalCPA’s Peninsula Silicon Valley and Silicon Valley San Jose chapters in association with Ascend and the South Bay Chapter of the Haas Alumni Network, and is sponsored by Deloitte LLP, Morrison & Foerster and United Commercial Bank.

Topic: China: Strategic Implications, Challenges of Doing Business in the World’s Hottest Market
Keynote Speaker: Paul Tiffany, Ph.D. and senior lecturer, Haas School of Business, UC Berkeley
Date: Saturday, May 17
Time: 10 a.m.–2:30 p.m.
Location: Sun Microsystems Auditorium; Santa Clara
CPE: 4.5 hours
Cost: $50/CalCPA, Ascend and Haas alumni members; $75/nonmembers
RSVP: Online

ABC Mixer: Networking for Attorneys, Bankers and CPAs

Our second annual networking event for CPAs, attorneys, bankers and other financial professionals moves to the Pacific Athletic Club in Redwood Shores. This is a great opportunity to meet old friends and make valuable new contacts, so don’t miss this spring celebration.
Date: Thursday, May 22
Time: 5:30–7:30 p.m.
Location: Pacific Athletic Club; 200 Redwood Shores Pkwy.; Redwood City
Cost: $30/members; $30/nonmembers (beverages and hors d’oeuvres included)
RSVP: Online

Today’s CPA Careers: Emerging Professionals

Attention students and candidate members—we are presenting the first in a series of panel discussions on today’s CPA careers in conjunction with the annual CPA and Enrolled Agent Information Night at the College of San Mateo.
   Three speakers will talk about their personal experience in the field: one as a tax accountant, one as an auditor and the other as a corporate accountant. Future sessions to be presented at other local colleges will focus on additional career paths, such as forensic accounting, litigation and estate and financial planning.
   This event is free, but we’d like to know you’re coming, so please register.
Date: Thursday, May 15
Time: 5:15–6 p.m.
Location: College of San Mateo; 1700 W Hillsdale Blvd.; San Mateo
Cost: Free
RSVP: Online
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COMMITTEE MEETINGS

MAP

Date: Tuesday, May 6
Time: Noon
Location: Crowne Plaza Hotel; 4290 El Camino Real; Palo Alto
Cost: $20/per person
CPE: 2 hours
RSVP: Tim McCrone at (650) 948-7180; Attendance limited to those with confirmed reservations.

Nonprofit Interest Group

Topic: Internal Controls and Nonprofits
Date: Wednesday, May 7
Time: 8:30–10 a.m.
Location: Office of Jack Morton; 385 Sherman St., Suite 2; Palo Alto
CPE: 1.5 hours
Cost: Free
RSVP: (650) 323-6666 or laarni@lvr.netbox.com

Personal Financial Planning

Topic: Long-Term Care: The Missing Piece in the Puzzle of Financial Planning
Speaker: Arlen Brownstein, Sutker Insurance Services
Date: Thursday, May 8
Time: Noon–1:30 p.m.
Location: Burr, Pilger & Mayer LLP; 3000 El Camino Real, Bldg. 2, Suite 250; Palo Alto
Cost: $15/members; $20/nonmembers
CPE: 1 hour
RSVP: Online

Silicon Valley Forum Workshop

Topic: Fixed Asset Cleanup and Your Options for Form 571L Reporting
Speaker: Shannan Posluszny and Mark Ong, Thompson Tax & Associates, LLP
Date: Wednesday, May 21
Time: 7:30–9 a.m.
Location: Ramada Silicon Valley; 1217 Wildwood Ave.; Sunnyvale
Cost: $15/members; $20/nonmembers
CPE: 1.5 hours
RSVP: Online

Litigation/Business Valuation

Topic: Using M&A Multiple Pricing Techniques in Your BV Practice
Speaker: Brian Sullivan, CPA, managing director, The McLean Group–Silicon Valley
Date: Friday, May 23
Time: 8–9:30 a.m.
Location: Sullivan & Co.; 177 Bovet Road, Sixth Floor; San Mateo
Cost: Free
CPE: 1.5 hours
RSVP: Online
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PRESIDENT’S MESSAGE

Left in Good Hands

By Sharon Selleck, CPA

I hope that by the time you read this, you have been able to take a day or two off after taxes or in between your 10-K filing and your first quarter 10-Q filing. As my year as chapter president draws to a close, I want to thank all of my fellow officers, chapter board of directors and CalCPA staff for all of their hard work and dedication to the chapter. I hope that our members have been able to participate in the many events we held this past year.
   From the start of the year with the return of the ABC Mixer evening at the Garden Court Hotel in Palo Alto to our volunteer night at the Second Harvest Food Bank in San Mateo County to the ever-popular Night at the Races at Bay Meadows racetrack and the many events and seminars in between, it was a fun and busy year.
   While I am not ending my year with another three-month trip to Italy (unfortunately), we are ending it with great events planned for 2008–09 year and a spectacular new president taking over, Karen Goodfriend. Many of you know Karen and for those who don’t, she has been an active member of our PFP Committee for many years and has held leadership positions at the AICPA in the PFP arena as a CalCPA representative. I leave you in very capable hands!
   As for a peak into some of the upcoming events for 2008–09, our Silicon Valley Forum group has a major seminar next month on doing business in China. The event will be held Saturday, May 17 at the Sun Microsystems auditorium and will include keynote speakers, panel discussion and sessions on the various ways economic, accounting, tax and legal developments in China have influenced the opportunities of doing business in China.
   Also, we have the ABC Networking night May 22 at the Pacific Athletic Club in Redwood Shores. We are expecting another sell-out this year, so register today!
   Hope to see you at the ABC Night and other events during the year.
   If you are interested in planning events or serving on a committee, please contact me, Karen or chapter program associate Jane Dunbar. Ciao!
—Sharon Selleck, CPA
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CHAPTER NEWS

New Members

On behalf of the Peninsula Silicon Valley Chapter’s officers, directors and members, we extend our warmest of welcomes to our new members: Panteha Dixon, Eudora Ting, Yu Chen... [see all new members]

Personal Financial Planning Committee Revived

Please welcome Rick Hillsbery, CPA, CFP, of BPM Wealth Management, who is taking over as leader of our PFP Committee. Almost every CPA is asked financial planning questions by their clients, and Rick is planning programs on topics that tend to come up frequently—the first one being long-term care.
   The Thursday, May 8 meeting will focus on the responsibility of CPAs to ask the appropriate questions about long-term care planning. Financial risks to a retirement portfolio are usually associated with conditions, such as market losses. Yet the risk of financial stresses due to long-term care requirements can cause much more harm, but are often ignored. Unintended invasion of principle must be considered, so the planner needs to ask what is being allocated from the retirement portfolio for long-term care.
   Decisions and approaches will differ for single people and married couples. The planner needs to ask questions, such as: Who will be the caregiver, where is the money coming from and what happens when the caregiver is no longer able to provide care at home? The expense may be exorbitant, so where will the money come from? And what exactly might the cost be?
   All chapter members are welcome.
Date: Thursday, May 8
Time: Noon–1:30 p.m.
Location: Burr Pilger & Mayer LLP; 3000 El Camino Real Bldg. 2, #250; Palo Alto
CPE: 1 hour
RSVP: Online
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CalCPA NEWS

Don't Miss This Year's California Summit on Financial Literacy

CalCPA and the California Jump$tart Coalition are hosting the second California Summit on Financial Literacy at the Sacramento Convention Center Wednesday, April 23. And given the current credit crisis facing the state and the nation, the timing could not be better.
   Participants will connect with a variety of programs, organizations and dedicated individuals working to improve the level of personal financial education of all Californians.
   As the most trusted adviser, CPAs have a responsibility to address this important issue, and the Summit will offer ideas for everyone concerned.
   More program information can found at the California Summit on Financial Literacy homepage, along with registration information and a video from the highly successful 2006 Summit.

Rising CPAs, Networking

CalCPA’s 2008 Young and Emerging Professionals Conference will provide an overview of what’s on the horizon for young CPAs, tips on becoming the “most trusted adviser” and feature keynote speaker Christopher Gardner, who will discuss his strategy for defining, finding and attaining success and focus.
   Other topics will include networking, creating a business image and learning the ins and outs of communications. And new this year will be a look at the do’s and don’ts of CPA fashion.
   The conference will take place May 7 in Los Angeles and May 9 in San Francisco.
   Register online.
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RESOURCES:

Peninsula Silicon Valley Chapter Leadership