June 2008 | Peninsula Silicon Valley Chapter Bulletin

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SAVE THE DATE

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.

Attention Golfers: Tuesday, Sept. 23

Again this year, the Peninsula and East Bay chapters are co-hosting the San Francisco Chapter Annual Golf Tournament at Harding Park, so mark your calendar. Our scholarship fund will benefit from any Peninsula Chapter members who attend or local companies that sponsor the event. If you are interested in being a sponsor, download our sponsorship flier.
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COMMITTEE MEETINGS

MAP

Date: Wednesday, June 4
Time: Noon
Location: Crowne Plaza Hotel; El Camino Real; Palo Alto/Los Altos border
Cost: $15/per person
RSVP: Tim McCrone at (650) 948-7180; Attendance limited to those with confirmed reservations.

Nonprofit Interest Group

Topic: Internal Controls & Nonprofits: A Continuing Discussion
Date: Wednesday, June 4
Time: 8:30–10 a.m.
Location: Office of Jack Morton; 385 Sherman St., Suite 2; Palo Alto
CPE: 1.5 hours
RSVP: (650) 323-6666 or laarni@lvr.netbox.com

Silicon Valley Forum Workshop

Topic: Understanding Fiduciary Duties
Speaker: Brian Blach, senior vice president, CBIZ Financial Solutions
Date: Wednesday, June 18
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 or contact Jane Dunbar, (650) 802-2465 or jane.dunbar@calcpa.org

Estate & Trust Committee

Date:    Tuesday, July 15
Topic:   Challenges & Pitfalls in the Administration of Split Interest Trusts & Commercial Real Estate
Speaker:   Carol O’Neill, Mechanics Bank
Location:   MacArthur Park Restaurant, 27 University Ave, Palo Alto, CA
Time:   12 noon – 1:30 p.m.
CPE:    1 hour
Cost:    $25/members, $35/nonmembers
Click here to register.

Silicon Valley Forum Workshop

Topic: Personal Strategic Plans
Speaker: Kristi Royce, KLR Consulting
Date: Wednesday, July 16
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 or contact Jane Dunbar, (650) 802-2465 or jane.dunbar@calcpa.org
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PRESIDENT’S MESSAGE

Building Our Community

By Karen Goodfriend, CPA

Greetings to all Peninsula Silicon Valley Chapter members. I look forward to serving you as president in the upcoming year. I have been active in our chapter and at the state level, as well as in the AICPA for a number of years, and this has given me the opportunity to know many of you. However, there are many more of you whom I haven’t met.
   One thing I do know, as CPAs we are becoming more diverse and often taking specialized career paths. Yet, we still have much in common and have much to share professionally and as colleagues. I have experienced this as a personal financial planning specialist. For my area of practice there are many resources and organizations outside of the CPA world that I can draw upon, but I continue to feel a strong sense of community with fellow CPAs.
   As your chapter leader, my goal is to facilitate you in receiving valuable information and programs and gaining a sense of community with other CPAs. Our chapter leaders are committed to bringing valuable programs locally to our diverse membership, whether you are a business and industry member, emerging professional, sole practitioner, business valuation specialist, personal financial planning specialist and the list goes on. Of course, depending on which of these areas you practice, your needs will vary. Perhaps you seek to share ideas with other professionals in your field. Or maybe technical knowledge is your priority. There are committees and resources locally and at the state level, and I hope to help make you more aware of what is available.
   I am so very fortunate to be in a position to continue the wonderful momentum created by Sharon Selleck and our other chapter leaders. Our leaders represent you, and like you, are a diverse group. I should add that I think our leadership at the state level is awesome, as well. During my service for AICPA on committees and its council, I have been proud to see the accomplishments of CalCPA recognized.
   I hope to meet many more of you in the upcoming year. And whether we meet personally or not, I hope you participate in chapter programs, find them valuable and enjoy opportunities to network with others in our community. If you have ideas, questions or just want to get more involved, feel free to contact me, or any of our chapter leaders. We want to hear from you.
—Karen Goodfriend, 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: Marc Borella, Rhonda Murray, Ellias Taptelis... [see all new members]

2008–09 Chapter Leadership

CalCPA gratefully acknowledges the members who step forward to volunteer their time, energy and enthusiasm for our chapter:

President: Karen Goodfriend, KK Wealth Advisors, LLC
Vice President: Michael Thompson, Sun Microsystems
Treasurer: James M. Knight, Vista Wealth Management
Secretary: Laura C. Olson, Hood & Strong LLP CPAs
Past President: Sharon Selleck, Burr Pilger & Mayer LLP

Chapter Directors:
Robert L. Borelli, CPA
Iris Y. Chan, Stanford Hospital & Clinics
Parisa Nesva Derani, CPA
Michelle L. Flynn, Burr Pilger & Mayer LLP
Vivek Kumar, Orchard Supply Hardware
Wing Lee, Seiler LLP
Audrey Szutu, Lumenis America
Marianne Y. Zhen, Model N
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CHAPTER EVENTS

Asia Business Forum: A Big Success

More than 130 people attended the Silicon Valley Forum event May 17 to discuss the issues involved in doing business in China. Paul Tiffany, senior instructor at the Haas School of Business, U.C. Berkeley, gave the keynote address, depicting China’s prominent and growing position in the global economy. Following was a discussion of accounting, legal and banking issues, as well as the personal reflections of a venture capitalist and of a CEO doing business in China. Many in attendance already are involved in business in China, while others are eager to explore the potential of this vast market.
   Thanks to David Sacarelos, who chaired the event planning committee, and to the committee members, in particular Dennis Wu, Frances Chou and Victor Adint. CalCPA also acknowledges co-hosts Ascend™ and the South Bay Chapter of the Haas Alumni Network. This event was also made possible by the generous sponsorship of Deloitte, Morrison & Foerster and United Commercial Bank.

Emerging Professionals Panel for Students

A large group of students gathered at College of San Mateo recently for their annual “CPA & Enrolled Agent Information Night,” with the highlight being a panel discussion moderated by our Emerging Professionals Chair Parisa Nesva Derani. Three of our chapter leaders described their personal career experiences and answered questions from students: Sharon Selleck, auditor, Julie West, tax accountant, and Mike Thompson, corporate accountant. CSM instructor Bruce Maule commented that the personal contact his students made with CPAs during the evening made a big difference in motivating his students to pursue serious career goals. Future programs presenting other CPA career specialties are planned for the fall at other local college campuses.
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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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