November 2007 | Sacramento 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

A&A Committee Meeting

Date: Wednesday, Nov. 14
Time: 7:30–9 a.m.
Location: Gonul’s J Street Café; 3839 J St.; Sacramento
Cost: $12/members; $13/nonmembers
CPE: 1 hour
RSVP: David Chavez

Litigation Consulting Committee Meeting

Dates: Thursdays: Nov. 15, Jan. 17 and Feb. 21
Time: 11:45 a.m.–1:30 p.m.
Location: The Sutter Club; 1220 Ninth St.; Sacramento
Cost: $35/members; $45/nonmembers
CPE: 1 hour
RSVP: Sacramento Chapter Program Associate Serena Trovato

MAP Committee Meeting

Topic: Topics will be from the book Managing the Professional Service Firm, by David Maister
Speaker: Discussion
Date: Wednesday, Nov. 7
Time: 7:30–8:45 a.m.
Location: L Wine Lounge & Restaurant; 1801 L St.; Sacramento
CPE: 1 hour
Cost: $12/members; $14/nonmembers
RSVP: Perry Ghilarducci

Estate and Financial Planning Committee Meeting

Topic: Charitable Funds: Donor Advised Funds and Scholarship Funds After the Pension Protection Act of 2006
Speakers: Lorili Ostman, director of development and planned gifts, Sacramento Region Community Foundation, and Renee Mungas, program officer at the Sacramento Region Community Foundation CPA Law Forum of Metropolitan Sacramento
Date: Tuesday, Nov. 20
Time: 7:30–8:45 a.m.
Place: Mimi’s Restaurant; 2029 Alta Arden Expressway; Sacramento
CPE: 1 hour
Cost: $8 (selected limited menu)
RSVP: E-mail Patti Waltman or Bruce Kajiwara or call (916) 643-1400

Real Estate Discussion Group (RED Group)

Topic: Property Tax 101
The group is moving to Federal Income Taxation of Real Estate (WG&L). We will be taking orders: $115 now or $125 after Nov. 1. (Cameron Hess’s copy goes for $300—plus tax—so this is a bargain!)
Speaker: Cameron Hess
Date: Tuesday, Dec. 11 (Note: No regular meeting in November)
Time: 11:45 a.m.–1:30 p.m.
Place: Hungry Hunter (Please note new location.)
CPE: 1 hour
Cost: The price of your meal
RSVP: Cameron Hess or Dtatlow@wkblaw.com

Taxation Committee

Topic: Executive Deferred Compensation: Section 409A
Come learn about plan design, financing options, participant services and how nonqualified deferred compensation can close the gap between retirement and the limitations on key employees for plan contributions.
Speakers: Steven J. Friscia, J.D., LLM, CFP, Principal Group, and Patrick Gainer, senior vice president of Wachovia Securities
Date: Thursday, Nov. 8.
Time: 7:30–8:45 a.m.
Place: Mimi’s Restaurant; 2029 Alta Arden Expressway; Sacramento
CPE: 1 hour
Cost: Free (breakfast sponsored by Patrick Gainer of Wachovia Securities)
RSVP: Craig Fechter, CPA or (916) 979-7671

Student Luncheon

Speakers: Patricia Cochran, CFO, Vision Service Plan and CalCPA first vice president; Paul Artley, CPA and special agent with the FBI; Meg Pollard, CPA, MBA, professor at American River College; Yasmin West, Ernst & Young, LLP, past president of Beta Alpha Psi and CalCPA scholarship recipient
Date: Wednesday, Nov. 14
Time: 11:30 a.m.–Noon/registration; Noon–1:30 p.m./lunch and program; 1:30–3 p.m./networking
Location: Sacramento State Alumni Center; College Town Drive
Cost: $40/members; $50/nonmembers; free/students
RSVP: Online
Sponsorship info: Firm sponsor tables are available for $200, and firm sponsorship (name in program) are available for $100. Contact Joy Urquhart

Real Estate Conference

Rather than our traditional luncheon in November, this conference will serve as the chapter’s Real Estate Discussion Group meeting. Our chapter had a major influence in this program, including focusing on the current real estate woes and goes. Topics to be discussed include exit strategies for troubled properties, estate planning, GAAP issues, Section 1031 and charitable giving options.
Date: Monday, Nov. 12
Time: 8:30 a.m.–4:30 p.m.
Location: Hotel Nikko; San Francisco
Cost: $275/members; $375/nonmembers
CPE: 8 hours (9 hours if you register for the lunch program also)
RSVP: Online
Note: The conference also will be held in Irvine (Nov. 5) and Universal City (Nov. 13).
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PRESIDENT’S MESSAGE

Teach Them Well

By Conrad Davis, CPA

Over the past several weeks, I’ve been teaching my daughter some of the basics of driving. (I realize that for those of you who know me well, this is a disturbing prospect, but stay with me.)
   On a recent Sunday afternoon, I took Sydney to a large, vacant parking lot near our home to teach her how to park the family car. With my daughter safely belted in the driver’s seat, I began to impart to her my wisdom on how best to get an SUV into the narrow confines of a marked space. At that point, it occurred to me that I had no idea. I’d been parking my car for so many years, so often, that it was not easy to describe exactly what actions or thought processes were needed for a successful parking job. All I could get out was “turn the wheel and aim toward the spot.” According to my teen-age daughter, this was completely ineffective instruction. I quickly changed the lesson format, climbing back into the driver’s seat while explaining that a “watch and learn” session was in order.
   “Clearly,” I said, “this is the very best way to really understand the ins and outs of parking a car.” Fortunately, she bought it. While my daughter’s parking is still in need of considerable work, that day it was me who learned the important lesson.
   After I got home from the parking lot, it hit me that the day’s events carried some similarities for us as CPAs. Many of us have been practicing for so many years that we’ve forgotten how difficult it is to be starting in a new profession. As Sacramento CPAs, we need to step up and commit ourselves to helping those individuals who are the future of our profession.
   There are small ways of doing this, such as taking the time to mentor younger staff members in our individual firms, and bigger opportunities, like one that is just around the corner Nov. 14: Our chapter is sponsoring a student luncheon and question/answer event at California State University, Sacramento.
   I urge you to participate in this important event. We have an outstanding panel of CPAs as our luncheon speakers, including Patricia Cochran, CFO of Vision Service Plan and CalCPA first vice president; FBI Special Agent and CPA Paul Artley; Meg Pollard, CPA, MBA and professor at American River College; and Yasmin West, from Ernst & Young, LLP.
   During the afternoon, we have scheduled time for students to benefit from your knowledge and experience as they seek your advice and ask questions of individual firms. Please register today and come out to support our future colleagues and help them chart a course for success. I look forward to seeing you at CSU Sacramento Nov. 14!
—Conrad Davis, CPA
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CHAPTER NEWS

New Members

On behalf of the Sacramento Chapter’s officers, directors and members, we extend our warmest of welcomes to our new members: Doris Brownfield, Brian Peardon, Jason Craft... [see all new members]

Financial Literacy on the Quad

Andrew Newman will host a financial literacy booth on behalf of CalCPA at UC Davis Nov. 4. Like last year, the booth will offer new and returning students valuable information about college related financial issues, such as credit cards and student loans.
   Students will be challenged to take a financial literacy test that asks questions aimed at educating students on common issues they face. Booth hosts will go over the answers with the students and answer their questions about financially related issues. All students who take the quiz are entered in a drawing to win $50 cash or a $100 U.S. Savings Bond.
   If you are interested in participating, contact Andrew Newman at (530) 757-7402.
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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 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:

Sacramento Chapter Leadership