December 2007 | San Francisco Chapter Bulletin

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CHAPTER EVENTS

Bay Area Regional Education Events

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); forward and reverse allocations involving built-in gain or loss property under IRC Sec.704(c); and allocations of liabilities.
Speaker: Gary McBride, JD, LLM, CPA, professor, Cal State East Bay
Date: Friday, Jan. 18
Location: SFSU Downtown Center
RSVP: Online

Topic: Tax, Bankruptcy and Financial Problems: What to Do When Bad Things Happen to Good Clients
Speaker: Arthur Werner, JD
Date: Saturday, Jan. 19
Time: 7:30 a.m./registration; 8 a.m.–4:30 p.m./program
Location: Waterfront Plaza Hotel; Oakland
CPE: 8 hours
Cost: $140/members; $190/nonmembers
RSVP: Online
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COMMITTEE MEETINGS

Young and Emerging Professionals Committee

Topic: A World of Career Opportunities
Speaker: Gary Leach, CPA, Robert Half Management Resources
Date: Wednesday, Dec. 5
Time: 5:45 p.m./registration; 6–7 p.m./program and networking
Cost: $10/members; $15/nonmembers; $20/at the door; FREE/CalCPA student members with current student ID
RSVP: Online

Humboldt Discussion Group

Topic: 2007 Federal Tax Update (presented by GearUp)
Dates: Monday–Tuesday, Dec. 17–18
Time: 7:30 a.m./registration; 8 a.m.–4:30 p.m./program
Cost: By Dec. 1: $225 (after Dec. 1: $250)
Please make checks payable to Aalfs, Evans & Company, LLP
CPE: 16 hours
Location: Red Lion Inn; 1929 Fourth St.; Eureka
RSVP Stephen Kiewel

Santa Rosa Discussion Group

Dates: Second and fourth Tuesdays
Time: 7:30 a.m.
Location: Le Brasserie Restaurant; Vineyard Creek Hotel; Santa Rosa
Cost: Approximately $20 (payable at the door)
Info: Charles Mayfield

International Tax Committee

Topic: Transfer Pricing
Speaker: Marcus M. Sharei, director, international tax, Hood & Strong LLP
Date: Thursday, Jan. 17
Time: 8:30–9:30 a.m.
Location: 601 Montgomery St., Suite 405 (community conference room)
CPE: 1 hour
RSVP: Online

Joint Meeting: MAP & HR/Administration Committees

Topic: Preparing For Next Tax Season: Roundtable Discussion
Discussion Leader: Connie Tiret, chair, firm administrator, Calegari & Morris
Date: Thursday, Dec. 13
Time: Noon–2 p.m.
Location: Calegari & Morris; 123 Mission St., 18th floor; San Francisco
Cost: $15 (lunch included)
CPE: 2 hours
RSVP: Online
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PRESIDENT’S MESSAGE

Chapter and CalCPA Council Update

By Kathy Yu Liu, CPA

More than 60 members and guests attended our chapter’s New Member Orientation and Chapter Reception Nov. 14. Jane Dunbar, our chapter’s program associate, provided new members with valuable information about CalCPA, its vision, mission, structure, goals and the benefits of membership.
   Our keynote speaker was Teresa Mason, who presented her plan as CalCPA chair: advocacy for the profession and driving CalCPA’s momentum strategically forward. At the chapter reception, we honored the 40-year members: John Harrington and Arthur Samuelson. Teresa also presented awards to this year’s scholarship winners. Thanks to our Accounting Education Committee Co-Chairs Kathleen Schaum and Charlotte Wall for working diligently with other committee members to complete the difficult task of selecting this year’s winners among the many qualified applicants.
   Thanks also to members who attended the chapter’s CPE Extravaganza, annual golf tournament and ABC Mixer, as proceeds from these events fund our scholarships. This year our chapter received a record number of scholarship applications, and we were pleased to concurrently give out a record number of awards. Congratulations to this year’s scholarship award winners!
   In November, I attended the CalCPA Council meeting, which featured guest speaker Tom Campbell, dean of the Haas School of Business at the University of California, Berkeley. As a five-term congressman with an additional two years’ experience serving as the director of finance for the state of California, Campbell shared with us his unique interpretations of both the federal and California budgets. He urged us to exercise our influence as CPAs to pass along a realistic way of interpreting the state’s budget surplus or deficit. He also expressed concern about the dangers of financing government spending through bonds vs. tax money.
   While on the subject of legislation, Sacramento Chapter President Conrad Davis updated the council on new developments with the Uniform Accountancy Act. CPA mobility is a complex issue, as CPAs need to be able to work within the new global economy. Therefore, the need for uniformity of licensing requirements has grown tremendously. There is a critical need for a system that is similar to the driver’s license concept. Read more information.
   The AICPA and NASBA joint committee determined the guiding principle in the Uniform Accountancy Act. To be truly effective, the UAA requires that all states adopt its mobility provisions. Uniform adoption of the UAA’s “substantial equivalency” provision is the most viable means of achieving true mobility. Substantial equivalency allows any CPA with a valid state license to secure practice privileges in another “substantially equivalent” state. This year, many states enacted mobility legislation following this model, and more states will take legislative or regulatory action in 2008. At the council meeting, CalCPA reaffirmed conforming in principle to the UAA as of 2007.
   CalCPA supports mobility, mandatory peer review and continuing education for all CPAs using the unqualified (active) CPA designation. There remains urgency for the state of California to take action. Conrad reminded us of the important date of May 13, 2008: CPA Day at the Capital. Let’s join with CalCPA’s staff in Sacramento and CalCPA’s Government Relations Committee to help communicate with legislators and discuss issues facing California CPAs. Take this opportunity to meet with state legislative officials, voice our opinion and make an impact.
   Also at the council meeting, Teresa presented the John F. Forbes award to our chapter’s candidate member, Irene Altman. Irene had the highest score in California this year on the CPA Exam with 388 out of 400 and was one of the top-10 highest scorers nationally. We were all touched by her acceptance speech, which illustrated her sincere dedication to the accounting profession.
   I also participated in the council Strategic Thinking Retreat. The focus of discussion and the overall key initiatives included:

• Strengthening our profession
• Contributing to our members’ success
• Ensuring CalCPA’s success

There were many good ideas and suggestions and I look forward to these initiatives coming to fruition in the future.
   With regard to another retreat, our chapter board of directors will meet Dec. 5 to review our chapter’s events to date and plan for the second half of the year and for the coming years. Feel free to contact me with any ideas, thoughts or suggestions about shaping our chapter. The continued success of our chapter is dependent upon you.
   Wishing all of you and your families a healthy and happy holiday season!
—Kathy Yu Liu, CPA
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CHAPTER NEWS

New Members

On behalf of the San Francisco Chapter’s officers, directors and members, we extend our warmest of welcomes to our new members: Kandy Fowler, Joanne Li, Jon Nakagawa... [see all new members]

Scholarship Funding

Thanks to all chapter members who contributed to our scholarship fund or attended a CPE Extravaganza event, the ABC Mixer or our recent Golf Tournament! Your participation in these events helped our chapter raise more than $20,000 in scholarship funds this year. The Accounting Education Committee recently met to review all of our student scholarship applications, and we were very impressed with the students’ accomplishments.
   You’ll be pleased to know that we have many promising students planning to enter our profession in the next one to two years. At our New Member Orientation event held Nov. 14, we awarded $25,000 in scholarships to nine very deserving students. This is a record number of winners and scholarship funds given. Check out photos of the event.
   Congratulations to the following scholarship recipients:
Elizabeth Baker: University of San Francisco
Jeremy Boucher: Dominican University
Shane Hanson: Golden Gate University
Vanessa Kruze: University of San Francisco
Brandon Kutz: Sonoma State University
Denise Lee: Sonoma State University
Michelle Mitra: Dominican University
Megan Posey: Sonoma State
Diana Wang: Golden Gate University

ABC Spells Success

Thanks to our sponsors for a very successful mixer at The Bubble Lounge:
Attorneys: Hobson & Hobson, Attorneys at Law; Sonnenschein, Nath & Rosenthal, LLP
CPA Firms: Archibald M. Sam & Company, CPAs; Bertorelli, Gandi, Won & Behti; Daoro Zydel & Holland; Hood & Strong LLP CPAs; Moss Adams, LLP
Banks/Wealth Management: Comerica Bank; Ensemble Capital Management, LLC; First Republic Bank; The Mechanics Bank; United Commercial Bank; Wells Fargo HSBC Trade Bank; Wells Fargo Investments Private Client Services.

Chapter Member Honored

Congratulations to CalCPA member Stephen D. Mayer, managing partner of Burr, Pilger & Mayer LLP, who recently received the Entrepreneur of the Year award in the service industry category from the San Francisco Business Times.

Tax Prep Volunteers Needed in Marin

By Betty Dietz of Whistlestop

Whistlestop Senior Center in San Rafael is looking for volunteers to help with its free Income Tax Assistance Program for seniors. We especially need volunteers who can help with the e-filing process in Marin County. We also would like one more person to help seniors fill out their returns.
   The job requires the e-filing volunteers and tax preparer volunteers to take an IRS tax training and then pass a test and become certified. Whistlestop will provide the training, and volunteers can take the test online. We ask e-filing volunteers to commit to two to three hours either one or two days of the week during the 2007 tax season, Feb. 1–April 14.
   Whistlestop will be e-filing at the Margaret Todd Senior Center in Novato and the Whistlestop office in downtown San Rafael. We ask the tax preparers to commit to four to five hours one day each week of the tax season.
   If you are interested, call Betty Dietz at (415) 456-9062, ext.134.
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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:

San Francisco Chapter Leadership