WashingtonCPA 2017 Fall by Washington Society of CPAs

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CPA Fall 2017

Volume 61, Number 2

BLOCKCHAIN Should You Be Worried?

The Pace of Change vs. The Pace of Acceptance The February Surprise Not-For-Profit Financial Reporting: It's Time for a Change

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WashingtonCPA Fall 2017

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wa s h i n g t o n

CPA www.wscpa.org • memberservices@wscpa.org Tel (425) 644-4800 • Toll free in WA (800) 272-8273 Fax (425) 562-8853 902 140th Ave NE Bellevue, WA 98005-3480

Erika C. Amezquita Kristine L. Lambright Dawn E. Beck Moses S. Man Justin A. Bourn Rhonda S. Powell Christina J. Gehrke Michael W. Reeves Brett J. Jordan Jared M. Theis Mary E. Joyce Ronald L. Tilden Lowel J. Krueger CHAPTER BOARD CHAIRS Andrew Whitman Bellevue Area Lydia Ahn Bellingham Area Sarah Ozanne Everett Area Carrie Munson Olympia Area - Seattle Area Jillian Robison Spokane Area Angela Chase Tacoma Area Sara Bailey Tri-Cities Area Ursula Perkins Vancouver Area Jessica Walkenhauer Yakima Area

BOARD OF DIRECTORS Thomas G. Donaghy Chair Kirsten S. Duke Vice Chair Amanda V. O’Rourke Treasurer David E. Trujillo Secretary David J. Miniken Immediate Past Chair Kimberly D. Scott President & CEO

Jeanette Kebede Cory Wilmarth

Editor Assistant Editor

The WashingtonCPA is published by the Washington Society of Certified Public Accountants for its members. Views and opinions appearing in this publication are not necessarily endorsed by the WSCPA. The products and services advertised in The Washington CPA have not been reviewed or endorsed by the Washington Society of Certified Public Accountants, its board of directors, or staff. The WashingtonCPA (USPS 009754) is published four times annually by the Washington Society of Certified Public Accountants, 902 140th Avenue NE, Bellevue, WA 98005-3480. $12 of members’ annual dues goes toward a subscription to The WashingtonCPA. Periodicals postage paid at Bellevue, Washington and additional mailing offices.

Should You Worry About Blockchain? CONTENTS 4

The Pace of Change vs. The Pace of Acceptance

Understanding What Members Value

18 Washington Trust Accounting 20 Not-For-Profit Financial Reporting: It's Time for a Change

23 The February Surprise DEPARTMENTS

Cover photo: © Getty Images/Chad Baker

Leadership Lens

CPE Digest

POSTMASTER: Send address changes to The WashingtonCPA, c/o WSCPA, 902 140th Avenue NE, Bellevue, WA 98005-3480.

News Briefs

Conferences

14 Advocacy

Classified Ads

Foundation

Member Profile

Chapters

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WashingtonCPA Fall 2017

LEADERSHIP LENS

The Pace of Change vs. The Pace of Acceptance By Tom G. Donaghy, CPA, WSCPA Chair for 2017-18

hen I recently decided to write an article about technology and the pace of change, I wasn’t aware of the extent of the subject matter’s popularity. Just in the last couple of weeks, a plethora of articles sprang out from every news source imaginable. Obviously, I am not alone in my interest and concern for this topic. I have to confess that technology is not my forte. As evidence of this, while raising my two sons, we were always the last family on the block to get the newest TV or the latest VCR or DVD player. In fact, I think I was the last person in my peer/ social group to give up their razor flip phone. Currently, my interest in technology has changed dramatically, especially since my professional livelihood appears now to be at stake. In October 2016, Barry Melancon, President and CEO of the AICPA, reawakened my awareness about the speed and impact technological changes will have on our profession.The very first thing he said in his address to the members of AICPA Council was, “You will not recognize the profession five to ten years from now.” He also brought up words like big data, cybersecurity, blockchain, bitcoin, crowd funding, and more, which he thankfully went on to describe in detail. He really grabbed my attention when he said that robotics is predicted to automate or eliminate up to 40% of basic accountingtype jobs by the year 2020. To be honest, I was a little skeptical at this point; I thought his change timeline was a little too aggressive. Nothing ever changes that quickly. I can handle that change is coming, but the speed with which it will be introduced into our society will depend upon our ability to accept it. Right? Maybe or maybe not. I remember back in 2002 when my son Ryan was a sophomore in college and, on the first day in his Finance 101 class, his professor announced, “If you’re in this class because

WashingtonCPA Fall 2017

Will robots ever completely replace the services of the CPA, attorney, or financial advisor? I am certainly not a futurist, but I believe there will always be a need for advice, interpretation, and human interaction. you want to someday become a stock broker, you can leave now, cancel the course, and sign up for something else. Ten years from now computers (robots) will replace stock brokers.” My son previously had visions of going into his father’s business, but his dreams were dashed by a college professor. He couldn’t wait to get back to his dorm room to call me with the news. As you can imagine, I was not as excited to receive such news as he was to share it. I was a tad bit angry with that professor and making a call to give him a piece of my mind was not out of the question. However, then I thought about it for a while and wondered—what if he is right? Just six years from the date of that finance professor’s prediction, the first Robo-Advisor was developed. The initial attempt was fraught with glitches and limited in scope. Now, nine years later, there are over 100 Robo-Advisors available for your average investor. Was the professor correct in his prediction? Not exactly, his timeline, at least, was a bit off. Now, 15 years after the professor’s original prediction, is the general public ready to accept the services of a computer vs. a human? Some are and, yes, their numbers are increasing as the service product becomes more sophisticated. The sophistication of the “robo” services provided in my profession have progressed in approximately the same speed and fashion as automated tax services, for example TurboTax®, which have also taken some business away from the CPA. Will robots ever completely replace the services of the CPA, attorney, or

financial advisor? I am certainly not a futurist, but I believe there will always be a need for advice, interpretation, and human interaction. The big question remains, how long will it be before these robo products become more sophisticated? How will they change the way we do business five years from now and ten years from now? I’m certain that most of us are already researching the answer to these questions. At the WSCPA, we are actively involved in a strategic planning process, working on understanding what our member needs are right now and what they will be going forward. We are very aware of the rapid changes occurring in our profession and we want to get ahead of the curve and help you, our members, navigate through the arrival of these new challenges with timely products and services for a successful future. The WSCPA Information Technology Conference is coming up on December 11th and 12th of this year in Bellevue. I know I will be there, looking for answers; what about you? Tom Donaghy, CPA, is an investment officer and financial advisor in Bellingham, Washington. You can contact him at tg.donaghy1@gmail.com

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WashingtonCPA Fall 2017

LEADERSHIP LENS

Understanding What Members Value By Kimberly Scott, CAE, WSCPA President & CEO

WashingtonCPA Fall 2017

embership organizations all over the nation are facing challenges, everything from attracting and retaining members to providing valuable member benefits to diverse groups of members. I see a lot of relevance to an association like yours, one that represents a profession that is relied upon by the public and business decision makers. There is value in working together on key issues such as advocacy, peer review, student initiatives, and maintaining the image to the public. However, competition is fierce too. Continuing education is necessary for this profession, but the delivery methods, costs, quality and competition are vast. The same goes for opportunities to network, find mentors, clients, and advice. I could argue that all professionals need this benefit, but the variety of available opportunities challenges membership organizations to constantly improve their offerings. Just like any other business, the WSCPA needs to listen to members and adapt to address your changing needs and the marketplace. The WSCPA leadership has been seeking feedback from members in multiple ways to help understand the current and future needs of members, and those in the profession. This information is crucial when planning what the organization should be in five or ten years. The Washington CPA Foundation is also trying to understand the future needs of the profession and in August, working with the WSCPA leadership, sent a survey to the membership. This survey had questions focused on the Foundation’s future, but also had key questions to provide insight to the WSCPA. With a 16% response rate, the survey shed light on what you value. (See chart on pg. 7.) In September, a group of 50 members (along with some non-members), came together for a full day to provide their personal opinions and feedback to the

In September, a group of 50 members came together to provide their opinions and feedback to the WSCPA. The group, representing a cross-section of our membership, included representatives from every area of the state, gender, ethnicity, business type, and engagement level with the WSCPA. WSCPA. This group, hand selected to represent a cross-section of the Society’s membership, included ethnically diverse representatives from every area of the state, gender, varied types of businesses, and engagement level with the WSCPA. Career stage is the only area that was skewed in representation; the group mainly consisted of younger to midcareer professionals. In the feedback I’ve heard so far, it is clear to me that technology and personalization are essential factors for the WSCPA to address. As a society we are used to having everything at our fingertips, and we expect every experience to be simple and immediate. This is not a surprise, but is continually a challenge as technology continues to advance at such rapid rates. To help make your membership experience more personalized, the WSCPA

just rolled out a new e-newsletter. If you have taken the time to update your preferences, you should be receiving a newsletter with articles and opportunities directly related to your interests. If you have not yet updated (or have not updated in a few years), I encourage you to do so by clicking “Update Your Preferences” at the bottom of any WSCPA email. Instead of getting just one more newsletter you have to sift through to find something of value, you have some control over what you will see. Hopefully, you have seen the opportunity to take free CPE with our new Lunchtime Learning webinars. This is something new we are trying as a way to provide bite-sized, conveniently-timed learning for members in all areas of the state. We understand members in small firms and businesses often cannot travel, and some members pay for CPE out of www.wscpa.org

their own pockets. To learn more about this new series, I invite you to visit www. wscpa.org/freecpe. These are small changes, as we try to better understand how to leverage the resources we have to provide the best experiences and great membership value. We’re up to the challenge of transforming the WSCPA into the best organization possible and are grateful to have so much candid input, even as we’re in the beginning of the strategic planning process. Stay tuned for further updates! Kimberly Scott, CAE, is President & CEO of the Washington Society of CPAs, and Executive Director of the Washington CPA Foundation. You can contact her at kscott@wscpa.org.

What should be the primary concerns of the WSCPA?

Source: WSCPA and Washington CPA Foundation Survey, 2017

NEW WSCPA SHORT FORM Personalized Just for You! • Professional news articles tailored to your specific interests • Event, CPE, and membership reminders personalized for you Follow the link at the bottom of your email to customize your interests and control how often you receive the Short Form.

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WashingtonCPA Fall 2017

BLOCKCHAIN

Should You Worry About Blockchain? By HItendra R. Patil

ocial Media. Big Data. Automation. Artificial Intelligence. Machine Learning. Just when you thought technology’s impact on the accounting profession couldn’t get any more disruptive, here comes Blockchain. As a CPA, should you worry about Blockchain? Let us examine. BACKGROUND In 2008, a mysterious person pseudonamed Satoshi Nakamoto published a whitepaper titled “Bitcoin: A Peer-toPeer Electronic Cash System.” If you read it at https://bitcoin.org/bitcoin.pdf, you will discover that the word Blockchain was not mentioned in the paper. Despite this, many wrongly perceive Bitcoins as Blockchain. Bitcoins (cryptocurrency) are just one of the 700 or so possible uses of the underlying Blockchain technology. For more details about Blockchain technology, see page 9. BLOCKCHAIN IN THE ACCOUNTING PROFESSION Think of your current cloud accounting software. The cloud hosts your clients' accounting databases, with each client having its own database. You are a user and the application is on a centralized server (or servers) of the company that creates the accounting software. Your accounting database on that central server does NOT exchange and validate transactions with any other accounting database(s). Thus, the traditional, current way of maintaining the trusted but unconnected accounting databases is to have central administrators like banks, governments, and yes, CPAs, someone who incurs the time, effort, and cost to verify and vouch for the other leg of the transaction. Today,You Trust Third Parties Again, think of the accounting database

WashingtonCPA Fall 2017

(your accounting software). You enter data into it by either inputting from paper-based documents or by fetching from banks electronically. Where does that data originate from? It is from another accounting database–either maintained by you, another accountant or a business. The accounting databases are just used for recordkeeping of the transactions between transacting parties. The two accounting databases are not connected and do not exchange transaction data between themselves. The “transaction” between two contracting parties passes through a third party, in this case, the bank. Banks are heavily regulated, financially mighty and, hence, heavily invested in secure technologies. Banks are trusted to keep trustworthy records of the financial legs of the transactions between two contracting parties. You, as an accountant, trust the bank data. But even when you, the accountant, import transactions from bank data into the accounting software, you still authorize the update of the accounting software by

checking those transactions yourself. You also complete bank reconciliations as an authenticity check to satisfy yourself that what you enter in the accounting database has indeed happened. The “trust” is outsourced to third parties, i.e., the bank or the central administrators and/or the accountants. It adds to cost, and requires more time to ensure trust. Even third parties need to be audited to ensure trust. Tomorrow, You’ll Trust Immutable Technology! In accounting Blockchain, the application platform will not only be on the computers of transacting parties, but also on several computers (decentralized nodes). The users may end up using a “cloud node” instead of their own computers. These nodes will constantly interact with each other to validate the blocks of transactions. A not-so-accurate but nicely illustrative analogy would be accounting ledgers that automatically transmit blocks of transactions to other ledgers which continuously (continued on pg. 10) www.wscpa.org

BLOCKCHAIN

What Is Blockchain Technology and How Does It Work? •

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Like how the email software uses the Internet, Bitcoins use Blockchain technology. In other words, Blockchain is not an application. Blockchain is a foundational technology. One can build applications to use this technology. Blockchain is not one single software platform. There are, and will be, multiple Blockchain networks. Essentially, Blockchain is a type of database that keeps recording transactions (a ledger). That database keeps getting copied and synchronized onto all the computers (called nodes) in the participating network. Hence, it becomes kind of a distributed ledger. Blockchain has fixed structures called blocks that store the transaction-related data periodically. In Bitcoins, the time in between mined blocks is about 10 minutes. Each block contains a header, the actual transactions data, as well as some technical stuff. The header consists of identifiers such as a reference number or the unique block number, the link that forms the chain of blocks, information from the previous block, and the timestamp (the date and time the block was created). The transactions data can contain, depending on the use case, a validated list of digital assets and the transactionrelated instructions, such as amounts, rates, quantities, the unique identifiers of the transacting parties, etc. On the Internet, we currently use usernames and passwords to protect our identity and data. Blockchain uses cryptography or encryption technology. Cryptography works with public keys and private keys. A public key is a long, randomly generated string of alphanumeric values. It is the address on the Blockchain network. For example, when you send a Bitcoin to someone, you are sending it to the public key. Others send Bitcoins to your public key, serving as your address. The private key mathematically “derives” the public key. Hashing technology turns an alphanumeric input via computational process into another alphanumeric value of a predetermined length, to produce the address that other people can see. Thus, when someone sends you transactions over the Blockchain network, they send you a “hashed” version of the public key. To prove to the receiver that you actually own the digital asset/value (say, a bitcoin), you need to prove that you are its true owner. So you, the sender, use your private key and www.wscpa.org

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the transaction message to create a digital signature, “signing the transaction” and proving the ownership. Using a different mathematical computation, other nodes in the Blockchain network use the digital signature to verify that it corresponds to your public key. The private key is like your password for a bank login and the digital signature proves to the bank (intermediary) that you have the password, without the need to actually reveal the password. Blockchain does not need third-party, centralized intermediaries like banks. Several nodes in the network do that job in a decentralized way to collectively confirm that you are the owner of a digital asset and that you are not doublespending it. The (proof of work) process of validating transaction records to add to the public ledger, linking them to blocks of past transactions is called mining. Those who invest and use their resources (time, computing power, electricity) are called miners and they are “rewarded” for validating transaction records. The “distributed ledger” is like an open book in a room (the public Blockchain network). Those in the room can read it. The identities of transacting parties in a public network are pseudonymous. The beauty of Blockchain is that, because each node in the participating network has an identical copy of the database, if for any reason the database on any node is deleted, reinstalling the database on that node will synchronize all blocks from scratch and update itself to the latest validated block in the network! The participating network of a Blockchain can be a public network—accessible to any person with Internet access—or a private, permissioned network—with access to only those authorized. There can and will be multiple Blockchain networks, e.g., Bitcoin, Ethereum, etc. Private Blockchain networks can be based on industry, profession, vendor-customer networks, etc. wherein the public will not have access and only permitted entities will be authorized to access this network. Blockchain technology is, therefore, being explored to create peer-to-peer (without involving third-party central administrators) smart contracts via decentralized application platforms. The indelibility of transaction records will make it the trusted source of information. WashingtonCPA Fall 2017

BLOCKCHAIN

validate them, and keep a copy of each block they receive. The simplistic explanation of Blockchain in Accounting can, therefore, be the “triple entry” system. Since Blockchains are ledgers, technically each company can automatically “keep books” by using an accounting app to “synchronize” its books with a Blockchain network. Now, imagine when millions of companies, banks, tax authorities, etc. are creating “blocks” of their transactions, how will the picture look? Blockchain technology will automatically create a “distributed shared ledger” each time the two companies create a transaction in their private ledgers. Call it the “third entry into a common block shared by two companies,” or the “triple entry.” In public Blockchain networks, since every user of the ledger needs to be able to see the transactions data, it raises privacy issues. Hence, Accounting Blockchains would most likely be private/ permissioned networks, i.e., identities of transacting parties will be known to those with permission to access their own transaction records. Auditors/regulators, etc. may get “time bound” temporary permissions to see the records. Computing power of several people in the network ensures that everyone has a copy of the “time-stamped block of transactions.” It creates trust without involving banks (third parties or central administrators). How does one delete or change a transaction in ALL the chains or blocks of records existing in several computers at once? Let’s imagine what reversing entire chains of transactions on several computers at once would entail. All the computers in the network would need to reconstruct the revised chain of transactions, which would require phenomenal computing power–more than that of all the networked computers put together. The costs of doing all of this would be exorbitant. Who would want to pay such disproportionate costs to reverse Blockchain transactions? That is why Blockchain records are called immutable. In the financial world, they use the word “non-

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repudiable.” When “trust” is built in the technology itself, why would there be any need to reconcile transactions with any third source? In other words, transaction records in a Blockchain can be trusted to be entered into any accounting system without any need to re-verify itself.There won’t be a need for, say, invoices, because the transactions automatically verify themselves with each other. What's the Impact on the Accounting Profession? For starters, there would be no need to send out purchase orders, invoices, bills, etc. as the transactions are validated continuously on the Blockchain networks. When banks rely on Blockchain confirmation to release payments, there is no need for bill-payment processes. And since the same pre-validated transactions exist in every node, there is no

need to audit them. That leads to several questions about how it can impact the future of the accounting profession and accountants. For example: •

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Why would there be a need for both the transacting parties to enter the same data separately into their own accounting software? Why won’t accounting software just connect with Blockchain(s) and continually update transactions data and at the same time continually keep reconciling with bank data (just to ensure payments have been made against goods/services received)? Why would banks/lenders need outdated/out-timedxfinancial statements from businesses/their accountants, if they can independently verify real-time transactional history? One of auditing's aims, independently www.wscpa.org

BLOCKCHAIN

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establishing trust, will be pre-fulfilled by Blockchain. Imagine the colossal reduction of time, effort, and costs of data collection, organization and verification processes. What, then, happens to the revenue from your audit services? Why would tax departments need to wait until the end of the year to collect taxes due if every taxable transaction can be identified while it happens in Blockchain? And so on….

When Is It Likely to Start Affecting Your Practice? Nearly 36% of revenue of the top 100 firms that comes from audit—nearly $25.5 billion annually—can potentially be under threat due to Blockchain. No wonder the Big Four accounting firms are

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already investing in Blockchain-readiness and ownership. When will it impact your practice? Notice the emphasis is not on whether it will. It is “when.” It all depends on several factors, including governmental regulatory developments that can slow down or speed up the advance of Blockchain technologies. The current costs of running Blockchain networks (the processing capacity of nodes, electricity costs, etc.) are prohibitive to let Blockchain descend onto small value day-to-day transactions. Blockchain will affect not just your own business model, but also your clients’ business models—first those who deal with digital assets like financial services, and later those whose physical asset records are digitally maintained, like global manufacturing companies. Blockchain will redefine how entire

economies work. It certainly will not be overnight, but ignoring it will put you and your clients or organization at a disadvantage. Be sure you understand what can Blockchain do—and what it can’t—at least over the short term. Hitendra R. Patil is one of Accounting Today's 2017 Top 100 Most Influential Persons in Accounting; the Author of “Accountaneur: The Enterpreneurial Accountant” and the Director of Practice Development at AccountantsWorld. You can connect with him on LinkedIn linkedin.com/in/hitendrapatil or contact him by email hitendra@hitendrapatil.com.

WashingtonCPA Fall 2017

NEWS BRIEFS

SPECIAL MEMBER DISCOUNT FROM CCH

CALL FOR NOMINATIONS Join the WSCPA Board of Directors

The WSCPA Board Governance Committee is accepting nominations for the 2018-2019 Board of Directors. To submit a nomination, contact Helen Doty at hdoty@wscpa.org. Nominations are due Oct. 31.

Society Mailing List Policy The Society does not sell member e-mail or mailing addresses. Members may occasionally receive mail from the Society’s third-party affinity partners that offer products or services deemed to provide value to members. To be excluded from these mailings, update your Communication Preferences online at www.wscpa.org/mywscpa (after logging in, scroll down and select Communication Preferences from the list of links) or send a request to unsubscribe from third-party maillings to memberservices@wscpa.org, or call the Society at (425) 644-4800 or (800) 272-8273 (toll-free in Washington). While you're updating your preferences, take a moment to select your fields of interests. (Select Manage My Interests from the list of links on the MyWSCPA page.) Updating your interests will allow you to receive tailored communications that are relevant to you.

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Save 25% on U. S. Master Tax Guide 2018 When You Order Online With tax season just around the corner, it's time to build up your tax reference library. As a WSCPA member, you can save 25% on Wolters Kluwer CCH US Master Tax Guide and get discounts on more than 175 tax and accounting books. The 101th Edition of the US Master Tax Guide reflects all pertinent federal taxation charges that affect 2017 returns and is convenientlyxcross-referenced to the Internal Revenue Code, Income Tax Regulations, certain Order now! other important tax law sources, www.cchgroup.com/members/WSCPA and CCH's Standard Federal Tax Reports for further research. This reliable reference is a must for anyone involved with federal taxation. Available in soft cover and ebook instant download, the US Master Tax Guide 2018 retails for $112.You save 25% with your WSCPA Member Benefits. To order, please visit www.cchgroup.com/members/WSCPA and use the NEW Promo Code USTP-BLYY5596 when checking out.

Find A CPA Referral Service Let Us Help Drive Business to You Enroll now at wscpa.org/ find-a-cpa

Successful companies never stop marketing. Ongoing marketing keeps your firm in the forefront of your client’s mind and attracts those looking for a new CPA. Keeping up with marketing can feel overwhelming. While you are busy doing the work, the WSCPA Find A CPA referral service can help you expand your client base. As the only organization in Washington dedicated to serving the profession, people turn to the WSCPA to find the best of the CPAs. Our service is easy to use. For just $175, your listing will be displayed for a full year. With just one click on the “Find A CPA” button, potential clients have easy access to all the information they need to find you and can search by key terms, services offered, area of expertise, and location.Take advantage of our referral service and get the word out about your business. Enroll now at www.wscpa.org/find-a-cpa. For more information, call (425) 586-1142 or toll-free in Washington at (800) 272-8273, ext. 1142 or email memberservices@wscpa.org. www.wscpa.org

NEWS BRIEFS

JOIN THE INTERNATIONAL TAX COMMITTEE! Interested in interacting and building relationships with your CPA colleagues? Want to improve your skills and exchange information with fellow CPAs? If so, join the International Tax Committee (INTC)! The INTC is comprised of a group of international tax specialists across Washington State. Our members range from sole practioners, employees from mid-size to Big Four accounting firms, and faculty from local universities. The INTC meets regularly to discuss recent developments in international tax laws and their applications to our client base. During our meetings, we also share and discuss international tax issues that we have experienced in our own practice. The network we built within the INTC will not only help our committee members grow professionally, but will also allow us to serve our clients better. The INTC is also responsible for organizing the WSCPA International Tax Conference, which is held each Spring. The previous International Tax Conference was held at the Columbia Winery in Woodinville this past Spring. Please contact Moses Man at moses@ msquaredtax.com if you are interested in being a member of the INTC.

IN MEMORIAM: The WSCPA holds in memory with families and the larger community, these members who have recently passed on: Calhoun B. Jorgensen, Jr. William Resler Randy C. Uhrich Randall C. Wright www.wscpa.org/community/ in-memoriam

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2017-2018 Awards CALL FOR NOMINATIONS Submit your nomination for 2017-2018 awards by March 15, 2018 at www.wscpa.org/community/awards LIFETIME ACHIEVEMENT AWARD Recognizes a current or former WSCPA member for a career of leadership and service to the accounting profession. COMMUNITY LEADERSHIP AWARD Recognizes a WSCPA member whose leadership in community organizations has boosted the public image of CPAs. COMPANY OR FIRM OF THE YEAR AWARD Recognizes a company or firm that provides noteworthy support to the WSCPA and its members.

OUTSTANDING VOLUNTEER LEADER AWARD Recognizes a WSCPA member for outstanding service and dedication or innovative, inspirational leadership. NEW PROFESSIONALS AWARD Recognizes a WSCPA member who has been a CPA for fewer than 10 years for outstanding WSCPA leadership. RISING STAR AWARD Recognizes a WSCPA member in the process of obtaining a CPA License for active leadership and service.

SPECIAL AWARD Recognizes an individual who is not a CPA but has supported or promoted the activities of CPAs and the WSCPA.

Congratulations to Martha Ramirez, winner of the WSCPA Passport Card registration contest! Martha Ramirez, CPA, has been a WSCPA member since April 2015. She won a Lenovo A12 Android Tablet. Martha works at Clark Nuber, PS in Bellevue. Register your WSCPA Passport card today and start saving at restaurants, retailers and travel services.

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WashingtonCPA Fall 2017

ADVOCACY

Advocacy’s Greatest Asset By Ashley Kittrell

uring my junior year in college, I took a business class and had to complete a group project to create a business and technology plan for a designated company. My group’s proposal was so incredibly boring and mundane that I don’t remember very much about it. One of the more interesting proposals from a group was a plan for Kodak. Their plan involved creating a contact lens that allowed a person to take a picture simply by blinking. I remember laughing incredulously with my classmates (and the professor). Yet, less than five years later, that concept is quickly becoming a reality. Samsung, Sony, and Google have all filed patents for developing smart contact lenses with tiny sensors that have the ability to record content. (I guess Kodak never received my classmates’ plan.) There is no doubt that technology is changing the business world as we know it—including the accounting profession. Cloud-based software and technologies have transformed accounting programs and practices. From the expansion of worldwide virtual offices to the continued growth of blockchain and other innovative technologies that Word does not recognize and shows as spelling errors, there are many developments that the accounting world must either adapt to in order to remain relevant and competitive, or fail. In a continuously changing profession, however, there is one facet that has remained constant and will continue to do so: advocacy. As a CPA, the crucial task of advocacy will always be yours. You will remain the voice of your profession, and technology will never change how integral one-onone communications with your elected officials are. The importance of advocacy is evident when the profession is faced with questions such as: how will a statute requiring

WashingtonCPA Fall 2017

accountants to register as a private invesin-depth but will also allow you to tigator affect the forensic accounting field, develop relationships and connect can excess state board funds be used for with fellow members. the benefit of the profession, and how • The recently launched Key Contact would a uniform definition of attest and Program will enable members to utifirm mobility help or hinder your firm? lize relationships with their represenThese are all questions that we have tatives and effectively communicate asked and you have answered; technology and testify on the impact of proposed did not and cannot. legislation with state, local, and federal representatives.This is a vital resource to your elected officials who both value and respect the profession.

In a continuously changing profession, there is one facet that has remained constant and will continue to do so: advocacy.

It is only through your active participation and vigilance that the State does not require accountants to register as private investigators. It is because of you that the WSCPA Foundation is more robust than ever and awards over 65 scholarships every year to the brightest accounting students in Washington. And it is only with your help that the State adopted a comprehensive definition of attest and firm mobility. You are, and will remain, our greatest asset. Our work is never done though, and we are excited to continue working alongside you and have several new advocacy resources and opportunities in the year ahead. • The WSCPA’s Inaugural Hill Day will take place in January 2018. These events will not only facilitate meetings with your legislators and discuss the profession’s interests and concerns

There are also several new resources on the WSCPA advocacy webpage where you can access recent news and highlights. • Our blog, All Things Advocacy, has the latest and greatest news on, well, all things advocacy! • Be on the lookout for WSCPA’s quarterly newsletter, The Advocate, which provides in-depth information on both state and federal legislation as well as current news and updates surrounding the profession. Your participation continues to be the most valuable aspect of the WSCPA’s advocacy strategy. I would love to hear from you and discuss how you can get involved. In order to ensure that you learn about the new advocacy resources and opportunities, add advocacy to your fields of interest by clicking “Update Your Preferences” at the bottom of any WSCPA email or contact me directly. Ashley Kittrell is the WSCPA Government Relations Coordinator. You can contact her at akittrell@wscpa.org or (425) 586-1150.

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WASHINGTON CPA FOUNDATION

The Future of the Foundation By Kimberly Scott, CAE, WSCPA President & CEO

leanor Roosevelt once said, “The future belongs to those who believe in the beauty of their dreams.” During the past couple of years the trustees of the Washington CPA Foundation have been dreaming of the future, exploring the role of the Foundation. Obviously much has changed since the Foundation was formed in 1974 to provide scholarships to deserving accounting students in Washington State, but scholarships have remained the Foundation’s focus throughout the last 40+ years. Thanks to numerous firms providing named scholarships and the Certified Public Accounting Scholarship Program (established by SB 5534 from Washington State Board of Accounting surplus funds), the Foundation remains well positioned to continue to provide scholarships. This year, the Foundation will be able to provide over $350,000 in individual $5,000 scholarships. However, the Certified Public Accounting Scholarship Program funds are not an endowment, and must be spent down. When the funds do decrease, should the Foundation continue to raise funds to meet the demand of scholarships, or should the Foundation focus on other challenges? In August, you should have received a survey invitation from the Foundation. Thank you to the many WSCPA members (16%) who took the time to complete the survey. Your feedback is greatly appreciated and will be utilized by Foundation Trustees as they plan for the future and also by the WSCPA staff. Although the survey data is still in raw form, I wanted to share some of the key results. The featured graph shows our members responses when asked what the Foundation’s mission should be. The survey invited participants to rate specific areas for the Foundation to focus on outside of scholarships. Respondents were most interested in supporting the www.wscpa.org

What do you consider the Foundation's main mission?

Source: WSCPA and Washington CPA Foundation Survey, 2017 Foundation’s involvement in assisting students in job and career, improving the quality of accounting education, and focusing on growing the pipeline of students in Washington. In the coming months, the Foundation Trustees and the WSCPA leadership will be working through the survey results to help create the programs you would like to see to create a better membership organization and a stronger profession in Washington State. Now that’s a dream that I believe in! Kimberly Scott, CAE, is Executive Director of the Washington CPA Foundation and President & CEO of the Washington Society of CPAs. You can contact her at kscott@ wscpa.org.

Washington CPA Foundation awards over $350,000 in Accounting Scholarships! APPLICATION DEADLINE February 14, 2018 AWARD AMOUNT $5,000 NUMBER OF RECIPIENTS 70+ QUESTIONS? Email foundation@wscpa.org

Apply now! wscpa.org/oneof70 WashingtonCPA Fall 2017

How much have you saved with your WSCPA Passport card? WSCPA members have been saving hundreds of dollars with their digital Passport cards. With your Passport card, you can get great deals on:

HOME Home Repairs Furniture Remodeling Pools

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“This thing is awesome! We use it when we go to lunch and it’s great that it is not limited to Washington. The app is great for finding places that take the card. I try to use it as much as possible.” — Jian Wu, Passport Card holder

Explore more savings at www.wscpa.org/passport The WSCPA Passport card is now digital! Learn more at www.wscpa.org/passportdigital Dine. Shop. Travel. Save.

WashingtonCPA Fall 2017

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WashingtonCPA Fall 2017

TRUST ACCOUNTING

Washington Trust Accounting By David Keene, CPA

WashingtonCPA Fall 2017

any practitioners begin their experience with trusts when a client engages them to prepare a Form 1041. Because this engagement is indeed a tax engagement it seems appropriate to approach the process just as we would for a 1040 preparation engagement by gathering and summarizing Forms 1099, scanning the check register for tax items and transferring this tax data to the tax return. But when the practitioner progresses to Schedule B of Form 1041, where the distribution deduction is computed, the practitioner will likely find that the Line 8 amount (“If a complex trust, enter accounting income for the tax year as determined under the governing instrument and applicable local law”) and Line 9 amount (“Income required to be distributed currently”) reflect no obvious relationship with the taxable income, and soon realize these amounts are instead based on trust accounting income, not taxable income. Furthermore under IRC §651, the distribution deduction for a simple trust will be the lesser of “[T]he amount of [accounting] income for the taxable year which is required to be distributed currently” or the distributable net income (DNI–an amount based on taxable income). And under IRC §661 the distribution deduction for a complex trust is also based on the amount of accounting income required to be distributed (if any) as well as other distributions (i.e., of principal or of discretionary income) but limited to DNI as well. So even if you are “just doing the tax return” for a trust you will also need to become familiar with the state law that sets out the rules for determining what cash receipts and disbursements are classified as principal versus those that are instead considered to be income; i.e., be able to determine the trust’s accounting income. In Washington, this law is the

Even if you are “just doing the tax return” for a trust, you will also need to become familiar with the state law that sets out the rules for determining what cash receipts and disbursements are classified as principal versus those that are instead considered to be income. Washington Principal and Income Act of 2002, found at RCW 11.104A. ImportantxNote:xThexDistrictxof Columbia and 46 states, including Washington, have adopted the Uniform Principal and Income Act of 1997 (last amended or revised in 2008). However, many states, including Washington, have made edits to this uniform law. Accordingly, though various treatises and CPE classes provide valuable analyses of this law, be sure to check with the applicable state law before making any final conclusions on how this

law should be implemented for any particular case. Washington Principal & Income Act The Washington Principal and Income Act of 2002 (WPIA) is required reading for any CPA with trust clients. You might find that assumptions you have made about this law do not hold to be true. For instance, certain classifications that exist under tax law do not hold for this state law. One example of this is that the interest income based on the amortization of www.wscpa.org

TRUST ACCOUNTING

OID under tax law (say, from the holding of a zero coupon bond) will be classified as principal under RCW 11.104A.150 if the obligation is to mature more than one year after it is acquired. Likewise, certain dividends classified as dividend income under tax law are not income under WPIA. See RCW 11.104A.100. In this same section of WPIA, distributions from partnerships follow the same principal/income classification rules as applies to corporate dividends. Although the majority of WPIA is dedicated to defining cash receipts and disbursements as either income or principal, this law includes many other important provisions. One of the more unique of these is that the trust agreement provisions can overrule the provisions of this law. RCW 11.104A.010(a)(1) states that a trustee or executor “Shall administer a trust or estate in accordance with the terms of the trust or will, even if there is a different provision in this chapter”. Though the accounting for trusts follows a very different set of rules as compared to the accounting for corporations or partnerships, which many CPAs will be more familiar with, there is no reason practitioners cannot use their existing trial balance or general ledger software to maintain a trust client’s accounting records. One suggestion would be to distinguish principal versus income nominal accounts in the chart of accounts with, say, the 4000 series for income receipts, 5000 for income disbursements, 6000 for principal receipts, and 7000 for principal disbursements. Another important service CPAs can provide to trust clients, especially for trusts with different principal versus income beneficiaries, is to inform the trustees of their compliance with the accounting and distribution provisions of the trust agreement. In most cases the amount of the accounting income is not determinable until some time after the www.wscpa.org

year-end has occurred, when the source documents become available. Accordingly most trustees will estimate the amount of income during the year as a basis for making required income distri-

Working with trustees by keeping them informed of their obligations to beneficiaries not only makes your services more valuable but also enhances the credibility of the trustee to his or her beneficiaries.

butions. A correction is often required after the year-end to adjust required income distributions so they will match the income computed after the year-end has occurred. Working with trustees by keeping them informed of their obligations to beneficiaries not only makes your services more valuable but also enhances the credibility of the trustee to his or her beneficiaries. Trust Financial Statements Practitioners exploring the usual sources for GAAP regarding trust accounting and financial statements will not find much guidance from authoritative accounting pronouncements; no APBs, SFASs, AICPA Statements of Position and the like exist for trust accounting

or financial statement issues. What does exist is from non-authoritative sources as that term is defined by SFAS 168 (The FASB Accounting Standards Codification and Hierarchy of Generally Accepted Accounting Principles). One such non-authoritative source includes a report issued by the National Fiduciary Accounting Standards Committee which includes a list of the basic objectives and general standards of fiduciary accounting as well as two sample financial statements. Other sources, many derived from templates provided by courts, have found their way into common usage. A useful source for these different approaches and formats is available in PPC’s Guide to Accounting and Reporting for Estates and Trusts. Overall, CPAs have significant latitude as to which source’s guidance they may be able to rely upon for producing accounting and financial statements for their trust clients. In any case, the ability to produce financial statements and report on them is a source of additional service many practitioners should consider for their trust clients. David Keene, CPA, is the owner of keene. cpa, P.S. in Seattle. He provides consulting services to CPAs, attorneys and other professionals, focusing on estate taxation, fiduciary accounting and fiduciary income taxation. You can contact him at keene. cpa@gmail.com.

Learn More Attend David’s Trust Accounting Workshop on Friday, November 17 at the WSCPA Learning Center in Bellevue. Register now at www. wscpa.org/store.

WashingtonCPA Fall 2017

FINANCIAL REPORTING

Not-For-Profit Financial Reporting: It’s Time for a Change By Julleen Snyder, CPA, CGMA

WashingtonCPA Fall 2017

wenty four years ago, I was a fairly new CPA transitioning from one of the “Big Eight… Six… Four” firms to a role as controller at a notfor-profit medical research organization. I later returned to public accounting to focus on serving the needs of the notfor-profit community. However, at the time, this was a big change for me and the financial accounting standards for not-forprofit entities were also experiencing a big change. In June 1993, the FASB issued Statement #117 Financial Statements of Notfor-Profit Organizations. This standard introduced us to the concept of donorrestricted net assets, both temporarily restricted and permanently restricted, and we have been reporting under this standard ever since. Fast forward to August 2016. The financial accounting standards are now codified and FASB issued Accounting Standards Update No. 2016-14 Not-for-Profit Entities, the first major change to financial reporting for not-for-profits since 1993. Time for old and young dogs to learn a few new tricks. Are you ready? The effective date of the new standard is for fiscal years beginning after December 15, 2017. For example, the standard must be implemented for calendar years ending December 31, 2018 or fiscal years ending June 30, 2019 although early implementation is permitted. However, the standard may not be implemented piecemeal. All relevant requirements must be implemented in the same year. There are seven main impacts of the new standard: 1) change in presentation of net assets from three classes to two classes; 2) enhanced disclosure relating to both classes of net assets; 3) additional disclosure regarding qualitative and quantitative aspects of liquidity; 4) option to eliminate indirect cash flow reconciliation when direct method cash flow is presented; 5) required presentation of both

FASB has issued Accounting Standards Update No. 201614 Not-For-Profit Entities, the first major change to financial reporting for not-for-profits since 1993. Time for old and young dogs to learn a few new tricks. Are you ready? natural and functional classification of expenses, as well as enhanced disclosure of expense allocation methodologies; 6) change in presentation and disclosure requirements for investment expenses; and 7) elimination of the “over-time” release method for restrictions relating to long-lived assets. Change in Presentation of Net Assets from Three Classes to Two Classes First, and most significant, is the change from three classes of net assets (unrestricted, temporarily restricted and permanently restricted) to two classes (net assets with donor restrictions and net assets without donor restrictions). Although the terms unrestricted, temporarily restricted and permanently

restricted are not new, they continue to be the source of significant confusion to financial statement users. This confusion was exacerbated by the adoption of the Uniform Prudent Investment of Institutional Funds Act (UPMIFA), which blurs the lines between the net asset classes included within endowment funds. Therefore, the revised standard calls for net assets and change in net assets to be shown as either Net Assets without Donor Restriction or Net Assets with Donor Restriction, further emphasizing that only donor restrictions are contemplated in the restricted net asset class. But wait. Before you start reducing the level of tracking you currently maintain for your restricted net assets, be aware that there are enhanced disclosure requirements with respect to the nature www.wscpa.org

FINANCIAL REPORTING

and availability of donor restricted funds that will likely mean you will continue tracking restrictions in much the same way you do now. For example, you will still need to disclose the amount of board-designated or quasi-endowment funds (net assets without donor restriction) separately from donor-restricted endowment funds (net assets with donor restriction). Although you no longer have to remove underwater endowments from net assets with donor restrictions, you will need to disclose the fair value of the underwater endowment funds, the amount of the original endowment gift, and the amount of the deficiencies of the underwater funds. Therefore, you will still need to track the original gift balance separately from the accumulated investment earnings, even though the break-out only needs to be disclosed if the fund goes underwater. Enhanced Disclosure Relating to Both Classes of Net Assets There are additional disclosure requirements with respect to any governing board designations, appropriations, or similar actions that result in self-imposed limits on the use of resources without donor restrictions. While many not-forprofits have voluntarily disclosed this type of information in the past, it will now be a requirement. As such, it is important that the actions of the governing board with respect to such activities are clearly documented, preferably in the minutes to the meetings of the governing board. Additional Disclosure Regarding Qualitative & Quantitative Aspects of Liquidity The next most significant new requirement is the enhanced disclosure regarding qualitative and quantitative aspects of the organizationâ&#x20AC;&#x2122;s liquidity. The qualitative portion of the disclosure focuses on how the not-for-profit manages its liquidity to meet short-term demands for cash. This could include operating reserve policies, cash management practices and/or availability of credit (line of credit).The quantitative portion of the disclosure calculates a measure of the availability of the notwww.wscpa.org

for-profitâ&#x20AC;&#x2122;s financial assets to meet cash needs for general expenditures within one year of the balance sheet date. The calculation of availability can be affected by the nature of the financial assets (external limits imposed by donors, grantors, laws, contracts with others, etc.) or internal limits imposed by governing board decisions. I suggest that all not-for-profits start calculating the available financial asset measure now so that if any changes are needed, action can be taken prior to implementation of the new standard. Option to Eliminate Indirect Cash Flow Reconciliation When Direct Method Cash Flow Is Presented During the deliberation of the exposure draft of the new standard, there was discussion of requiring not-for-profit organizations to use the direct method cash flow statement. However, as forprofit entities are not required to use the direct method, it did not seem appropriate to require not-for-profits to do so. The direct method, however, is the preferred method, as it is generally easier for non-accountants to understand. Under the new standard, if the direct method is presented, the presentation of the indirect reconciliation becomes optional. Required Representation of Natural & Functional Classification of Expenses & Enhanced Disclosure of Expense Allocation Methodologies The goal of the remaining aspects of the standard is to improve comparability across not-for-profit financial statements by addressing certain variance in practice. The impact of these changes, if any, on your organizationâ&#x20AC;&#x2122;s financial statements will depend on your current practice. The statement of functional expenses, which shows both the natural and functional categories of expenses, has long been a required statement for voluntary health and welfare organizations. All other not-for-profit organizations have been required to report expenses by function, either on the face of the statements or in the notes. However, due to the value of this

information to users of the financial statements, many organizations have chosen to report expenses in a functional statement format as a basic statement, in the notes, or as a supplemental statement. The new standard does not technically require a statement of functional expenses, which is generally a columnar statement reporting natural classification down the side and the functions as columns. However, it does require that the nature and function of expenses be shown in the same location, either on the face of the statement of activities, as a separate statement, or in notes. As the traditional statement of functional expenses is an easy way to accomplish this requirement, I anticipate that many not-for-profits will opt to include this statement. Investment expense reporting is another area where current practice varies among not-for-profits. Some entities currently net investment expense against investment returns and disclose the total investment expense, while others include these costs within supporting service expenses. Under the new standard, all organizations will report investment returns net of both external and direct internal investment expense and will no longer be required to disclose the amount of the investment expenses. Requiring not-for-profits to report their investment returns net of direct investment expenses provides a more comparable measure of investment returns across all not-for-profits, regardless of whether they manage their investments using internal staff, outside managers, volunteers, or a combination. It also addresses the issue of embedded fees included in mutual funds, hedge funds, and other investment vehicles. It is often difficult to accurately identify all embedded fees. Eliminating the requirement to disclose total investment expenses will eliminate the difficulties and related costs in identifying embedded fees and the resulting inconsistencies in the reported amounts of investment expenses. The final area of diversity in current practice addressed by the new standard relates to the method of releasing restrictions related to long-lived assets. WashingtonCPA Fall 2017

FINANCIAL REPORTING

Currently, in the absence of explicit donor stipulations, not-for-profits have the option of releasing the restriction on gifts of cash or other assets to be used to acquire or construct a long-lived asset, either when the asset is placed in service or over the estimated useful life of the asset. Under the new standard, such restrictions must be released when the long-lived asset is placed in service.While the practice of releasing restrictions when the asset is placed in service is the more commonly selected method, those organizations who have chosen to release over time will see a significant change to their net asset classifications upon implementation of the new standard, as all remaining unreleased balances relating to long-lived assets will be reclassified to net assets without donor restriction. I am excited to assist my clients in implementing the various provisions of this new standard and I do believe it will improve the understandability and com-

WashingtonCPA Fall 2017

parability of not-for-profit financial statements. The standard continues to allow for diversity in presentation style that gives not-for-profit entities some choice as to how best to present their financial picture, while tightening up in areas that resulted in the most confusion among financial statement users. I enjoy change and the learning opportunities it presents. Nonetheless, if the next not-forprofit financial presentation standard is another 20+ years away, rest assured this will be my last opportunity to implement this type of change. Julleen Snyder, CPA, CGMA, is a partner with Jacobson Jarvis & Co PLLC in Seattle. You can contact her at julleen@jjco.com.

Learn More Not-For-Profit & Health Care Conference November 7-8 Lynnwood | Webcast New Financial Reporting Requirements for Non-Profits Webcast with Laura Lindal November 20 December 13 Register now at www.wscpa.org/store.

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STATE TAX

The February Surprise By Mark Hugh, CPA

www.wscpa.org

t may be known in the future as the Valentine’s Day Massacre 2018. On approximately February 10, 2018, the King County Assessor’s office will mail bills for property taxes due in 2018. And, in a single lump sum, homeowners and business property owners in the county will suddenly understand the impact of the Washington State Legislature’s new property tax levy for basic education. Since January 2012, the Legislature, at the mandate of the court, has struggled to raise additional funds for basic education, kindergarten through grade 12. The Washington State constitution considers basic education the “paramount duty” of the state. In January 2012, the unanimous Washington State Supreme Court ruling in McCleary v. State held that the state underfunded basic education and the Legislature had until 2019 to fully fund basic education, at a cost of $4-5 billion. One holding of McCleary was the state relied too heavily on local property tax levies for salaries and operations. Both the state and 205 local school districts are separate taxing districts and assess property taxes dedicated to funding public schools. “Property rich” school districts, containing the high value property generally surrounding Lake Washington, are able to raise local funds while “property poor” districts cannot, even with higher tax rates. A shift of levies from local districts to the state raises taxes in property rich districts and lowers taxes in property poor districts. For example, a property rich district has $500 million of taxable property, aggregate property taxes of $4 million, and an average home price of $500,000. A property poor district has $250 million of taxable property, aggregate property taxes of $3 million, and an average home price of $250,000. Before any levy swap, property taxes on an average home are $4,000 in the property rich district

and $3,000 in the property poor district. The levy swap shifts more of the property tax burden to the property rich district. After a revenue neutral levy swap combination of taxing districts, property taxes would be $4,650 on the average home in property rich district and $2,250 on the average home in the property poor district. Since 2012, the math on the levy swap has been simple, but the politics have been complex, especially with Washington’s divided legislature. The Legislature passed the two-year budget on June 30, 2017 and adopted the Senate’s plan for funding education. A new state property tax was assessed to fund basic education starting in 2018 and the levy swap was passed starting in 2019. The levy swap maintains, but lowers and caps, local property tax levies. Therefore, everyone’s property taxes increase in 2018, and in 2019 the levy swap will reallocate taxes statewide, resulting in property tax increases for

some and decreases for others. Some examples for the average homeowner: • • • • • •

Bellevue, in 2018 a $640 increase over 2017 and in 2019, a $710 increase over 2017. Issaquah, in 2018 a $610 increase over 2017 and in 2019, a $890 increase over 2017. Seattle, in 2018 a $500 over 2017 and in 2019, a $470 increase over 2017. Spokane, in 2018 a $130 increase over 2017 and in 2019, a $70 decrease over 2017. Kent, in 2018 a $280 increase over 2017 and in 2019, a $50 decrease over 2017. Tacoma, in 2018 a $190 increase over 2017 and in 2019, a $190 decrease over 2017.

You can view the two-year impact of the property tax increase and subsequent levy swap in your school district by WashingtonCPA Fall 2017

STATE TAX

following this link to the Office of Superintendent of Public Instructions’ website, www.wscpa.org/taximpact. It’s not only residential property that will be affected; commercial property will be affected too. In Washington, commercial property is assessed at the same rate as residential property. A commercial property with 10 times the value as an average homeowner will have 10 times the increase in a district adversely affected by the tax increase. And a commercial property with 10 times the value as an average homeowner will have 10 times the benefit in a district positively affected by the tax increase. King County, which contains most of the districts adversely impacted by the

tax increase and levy swap, mails 2018 property tax bills on approximately February 10, 2018, which means they arrive on Valentine’s Day. And, because the increase will come in a single lump sum, everyone is going to notice. The 2018 Legislature will be in session next February, and it’s already been suggested that the property tax increase and levy swap be unwound and instead the Legislature look to other sources of revenue, such as a capital gains tax, a carbon tax, higher B&O tax rates, and other revenue sources to fund basic education. Either way, there won’t be much love in the room in February 2018 when property tax bills start arriving.

Mark Hugh, CPA, is the principal of Mark Hugh PLLC. He is a frequent trainer and speakerxregarding state and local tax issues. You can contact him at mark@ markhugh.com. Catch Mark Hugh at a number of CPE programs this fall, including the Pacific Tax Institute, the Not-For-Profit and Health Care Conference, Washington State Tax Update, Washington B&O Tax and New Developments, and Washington CPA Ethics and New Developments. Visit www.wscpa.org/ markhugh for details.

Strategic Planning Event in Bellevue

Bellevue Chapter at Purple Wine Bar

Reception at the Woodmark Hotel (above and right). WashingtonCPA Fall 2017 24Members’

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PHOTO ALBUM

EVENTS

WSCPA Chapter Events Date

www.wscpa.org/chapters

CPE Event

Bellevue Area Chapter Nov. 1 1.5 No Waiting Game Here: States and Localities Continue to Demonstrate Action, 7:30-9:30am Dec. 13 1.5 Year End Federal Tax Report, 8-9:30am Everett Area Chapter Jan. 9 2 Washington State Tax Update with Mark Hugh, 8-10am Olympia Area Chapter Nov. 1 2 Putting the Love of Money Ahead of Ethics, 12-2pm Dec. 6 2 Getting It Right: Strategic Leadership in Complex, Uncertain, and Ambiguous Times! 12-2pm Jan. 3 2 The Best 2 Hour Tax Update, 12-2pm Feb. 7 2 Washington Tax Developments with Mark Hugh, 12-2pm Spokane Area Chapter Nov. 14 2 2017 E Clair Daniels Symposium, 11am-2:30pm

Code

Location

Bellevue 18CHBVNV01 Woodmark Hotel Yacht Club & Spa (Kirkland) 18CHBVDE13 Maggiano’s at Lincoln Square Lynnwood/Everett 18CHEVJA09 Lynnwood Convention Center Olympia 18CHOLNV01 Indian Summer Golf & Country Club 18CHOLDE06 Indian Summer Golf & Country Club

Dec. 11

Burning Bright Without Burning Out, 12-1pm

Indian Summer Golf & Country Club Indian Summer Golf & Country Club Spokane 18CHSPNV14 DoubleTree Hotel Spokane City Center Kennewick/Richland 18CHTCNV09 Anthony’s at Columbia Point (Richland) 18CHTCDE11 Tagaris Winery (Richland)

Jan. 8

Federal Tax Update, 12-1pm

18CHTCJA08

Tri-Cities Area Chapter Nov. 9 1 Fraud: Real Life Stories and What We Can Learn, 3-5pm

www.wscpa.org

18CHOLJA03 18CHOLFE07

Tagaris Winery (Richland)

WashingtonCPA Fall 2017

Do you have experience teaching CPE? The WSCPA is seeking qualified CPE instructors. If you have previous experience teaching CPE and enjoy teaching, contact us!

For more information, contact Lois Swenson-Grudt, WSCPA Director of Education, (425) 586-1136 lswenson-grudt@wscpa.org

WashingtonCPA Fall 2017

www.wscpa.org

CPE Digest Feeling lost at sea? Broaden your horizons with ACCOUNTING & AUDITING CPE

UPCOMING EVENTS with Walter Haig

Dates

Preparation, Compilation, and Review Standards: Dec. 27, 2017 The Best Annual Update & Review of the SSARS Jan. 25, 2018 May 30, 2018 Preparing Financial Statements for Small- and Medium-Size Businesses: The Best Annual Update & Review of U.S. GAAP, Tax, & Cash Financial Reporting Frameworks

Financial Accounting and Reporting Standards: The Annual Update & Review of GAAP, Tax & Cash Special Reporting Frameworks & AICPAâ&#x20AC;&#x2122;s Preparation, Compilation, Review, & Audit Standards

Hot Topics in the Financial and Reporting Standards: Topics That All CPAs Should Have a Basic Understanding Of!

Need CPE credits? Register now for CPE! engaging instructors | hot topics | webcast options www.wscpa.org

Trust Accounting Workshop with David Keene November 17, 2017

Dec. 28, 2017 Jan. 24, 2018 May 31, 2018 Dec. 21, 2017 Dec. 22, 2017

Dec. 29, 2017 May 19, 2018

Staying Current with Non-Profit Accounting & Auditing WEBCAST with Laura Lindal November 28, 2017

www.wscpa.org/cpe WashingtonCPA Fall 2017

EDUCATION AND EVENTS

EVENTS BY SUBJECT CPE Credits Course Date WSCPA education and events scheduled for October 2017 Type - January# 2018 are listed below, chronologically by subject.

Code

LEARN MORE To view complete course details, please visit the CPE & Event Catalog at www.wscpa.org/store. Date

CPE Credits

Course

WSCPA Member Fee

NEWAICPA CPE events NonLocation added year to: Member throughout Member Fee Discount www.wscpa.org/store

NEED HELP finding a seminar or webcast? Call (800) 272-8273 or (425) 644-4800. Code

WSCPA Member Fee

Type

NonMember Fee

AICPA Member Discount

Location

Accounting & Auditing 10/23

Accounting for Deferred Income Taxes WEBCAST, 7:30am-3:30pm

18WBBOC23A

249

319

Your Desk

10/23

Compilations and Reviews: Risks, Procedures and Fraud WEBCAST, 8:30am-4pm

18WBCOC23A

245

375

Your Desk

10/23

Healthcare Update: 10 NEW Risks to CPAs and Controllers WEBINAR, 12:30pm-2:30pm

18WNCOC23A

Your Desk

10/25

2017 Financial Statement Preparation, Compilation, and Review WEBCAST, 7am-3pm

18WBAOC25A

195

245

Your Desk

10/25

Closing Best Practices-Shortening Month End WEBINAR, 9am-11am

18WNCOC25A

Your Desk

10/27

COSO: ERM for Small and Medium-Sized Enterprises WEBCAST, 8:30am-4pm

18WBCOC27A

245

375

Your Desk

10/30

Detecting and Preventing Accounts Payable Fraud WEBINAR, 9am-11am

18WNCOC30A

Your Desk

10/30

GAAP Update WEBCAST, 8:30am-4pm

18WBCOC30A

245

375

Your Desk

10/31

Detecting and Preventing Accounts Receivable Fraud WEBINAR, 1pm-3pm

18WNCOC31A

Your Desk

10/31

Procure-to-Pay Fraud: Detection and Prevention Best Practice WEBINAR, 8am-10am

18WNCOC31B

Your Desk

11/1

Engagement Essentials: Preparation, Compilation, and Review of Financial Statements, 8am-4pm

18FCRENV

305

405

Tacoma

11/1

Purchasing, Inventory, and Cash Disbursements: Common Frauds and Internal Controls WEBCAST, 10am-2pm

18WBBNV01A

159

199

Your Desk

11/2

Defective Compensation Systems: When Bonuses and Incentives Go Bad WEBINAR, 8am-10am

18WNCNV02A

Your Desk

11/2

Fraud and Cash Receipts: Common Frauds and Internal Controls WEBCAST, 10am-2pm

18WBBNV02A

159

199

Your Desk

11/2

Fraud Update: Detecting and Preventing the Top Ten Fraud Schemes, 8am-4pm

18TTFSNV

305

405

Tacoma

11/3

Audit Workpapers: Reviewing Field Work WEBCAST, 10am-2pm

18WBBNV03A

159

199

Your Desk

11/3

Create Reports that Matter: Turn Information into Action WEBCAST, 8:30am-4pm

18WBCNV03A

245

375

Your Desk

11/3

Lunchtime Learning: The Risky Business of Fraud, 12pm-1pm

18LLNV3

Your Desk

11/3

Small GAAP: AICPA Private Company Financial Reporting Standards WEBINAR, 11:30am-1:30pm

18WNCNV03A

Your Desk

11/6

Fake Confirmations, Reports, and Opinions: Detection and Solutions WEBINAR, 1pm-3pm

18WNCNV06A

Your Desk

11/9

2017 Business Fraud Update WEBCAST, 7am-3pm

18WBANV09A

195

245

Your Desk

11/9

Detecting and Preventing Internal Fraud, Theft and Abuse WEBINAR, 1pm-3pm

18WNCNV09B

Your Desk

11/9

Fraud – Real Life Stories and What We Can Learn, 3pm-5pm

18CHTCNV09

Richland

11/9

Statement of Cash Flows: Preparation, Presentation, and Use WEBCAST, 10am-2pm

18WBBNV09B

159

199

Your Desk

11/10

Financial Accounting for Related Party Transactions WEBINAR, 11am-1pm

18WNCNV10A

Your Desk

11/10

Key Ratio Analysis WEBCAST, 8:30am-4pm

18WBCNV10B

245

375

Your Desk

11/10

U.S. GAAP Disclosures for Non-Public Entities WEBCAST, 8:30am-4pm

18WBCNV10C

245

375

Your Desk

11/10

What CPAs Need to Know about Elder Fraud to Protect Themselves and Clients WEBINAR, 12pm-2pm

18WNCNV10B

Your Desk

11/13

Private Company Reporting Options: More Changes Ahead WEBCAST, 8:30am-4pm

18WBCNV13B

245

375

Your Desk

11/14

Minimizing Internal Control Blunders Under the New COSO Framework, 8am-4pm

18COSFNV

320

420

Bellevue

11/14

SSARS 21: The Newly Effective Preparation, Compilation and Review Standards WEBCAST, 8:30am-4pm

18WBCNV14A

245

375

Your Desk

l S

WashingtonCPA Fall 2017

Networking event

www.wscpa.org

CPE Credits

Course

EDUCATION AND EVENTS Code

Type

WSCPA Member Fee

NonMember Fee

AICPA Member Discount

Location

Accounting and Auditing 11/14

Supplier Audits to Protect Your Bottom Line WEBINAR, 3pm-5pm

18WNCNV14B

Your Desk

11/15



Accounting & Auditing Conference 2017 WEBCAST, 8am-5pm

18WWAAC

330

430

Your Desk

11/15

L 

Accounting & Auditing Conference 2017, 8am-5pm

18AAC

345

445

SeaTac

11/15

Detecting and Preventing Accounts Payable Fraud WEBINAR, 3pm-5pm

18WNCNV15A

Your Desk

11/15

Detecting and Preventing Accounts Receivable Fraud WEBINAR, 12pm-2pm

18WNCNV15B

Your Desk

11/15

Not-for-Profit Organizations: Accounting and Auditing Principles and Applications WEBCAST, 8:30am-4pm

18WBCNV15A

245

375

Your Desk

11/15

Payments Fraud: Detect & Prevent Check, ACH and P-Card Schemes WEBINAR, 8am-10am

18WNCNV15C

Your Desk

11/15

Winning the Fraud Battle in the Digital Age: Prevention and Detection, 8am-4pm

18CFVVNV

320

420

Bellevue

11/16

Race Toward Implementation: Tackling the Tough Issues in Adopting the New Revenue Recognition Standard, 8am-4pm

18NRRSNV

310

410

Portland

11/20

CFO Series: Managing Risk WEBCAST, 8am-4pm

18WWCFONV

295

395

Your Desk

11/20

CFO Series: Managing Risk, 8am-4pm

18CFONV

305

405

Bellevue

11/20

Forensic Accounting Investigative Practices, 8am-4pm

18FAIPNV

305

405

Bellevue

11/20

Performance Auditing Essentials WEBINAR, 1pm-3pm

18WNCNV20B

Your Desk

11/20

Preparation, Compilation and Review Standards: The Best Annual Update and Review of the SSARS by Walter J. Haig, 8am-4pm

18PCRURNV

325

425

Spokane

11/21

Integrating Audit Data Analytics into the Audit Process, 8am-4pm

18AUDANV

305

405

Bellevue

11/21

Preparing Financial Statements for Small – and Medium Sized Businesses: The Best Annual Update and Review of U.S. GAAP, Tax and Cash Financial Reporting Frameworks by Walter J. Haig, 8am-4pm

18PFSSMENV

325

425

Spokane

11/22

2017 Accounting and Auditing Update WEBCAST, 7am-3pm

18WBANV22A

195

245

Your Desk

11/27

Fiduciary Accounting for Estates and Trusts WEBINAR, 11:30am-1:30pm

18WNCNV27A

Your Desk

11/28

Fraud Update: 10 New A & A Risks for CPAs WEBINAR, 3pm-5pm

18WNCNV28A

Your Desk

11/28

Shorten Month End-Apply Lean Thinking to Your Month-End Closing Process WEBCAST, 11am-3pm

18WBANV28A

129

159

Your Desk

11/28

Staying Current with Nonprofit Accounting and Auditing WEBCAST, 8:30am-4pm

18WBCNV28A

245

375

Your Desk

11/29

Audit Methodologies and Documentation WEBINAR, 1pm-3pm

18WNCNV29B

Your Desk

11/30

U.S. GAAP: Review for Business & Industry, 8am-4pm

18FASBINV

305

405

Bellevue

12/1

Annual Update for Preparation, Compilation, and Review Engagements, 8am-4pm

18CORUDE

305

405

Tacoma

12/1

Healthcare Update: 10 NEW Risks to CPAs and Controllers WEBINAR, 12pm-2pm

18WNCDE01A

Your Desk

12/1

Statement of Cash Flows: Preparation and Analysis Workshop WEBCAST, 8:30am-4pm

18WBCDE01B

245

375

Your Desk

12/4

Compilations and Reviews: Risks, Procedures and Fraud WEBCAST, 8:30am-4pm

18WBCDE04A

245

375

Your Desk

12/4

Corporate Governance, Fraud and Control: Setting the Strategy and Executing It Efficiently WEBCAST, 8:30am-4pm

18WBCDE04B

245

375

Your Desk

12/5

Common Frauds and the Internal Controls Designed to Prevent and Detect Them WEBCAST, 8:30am-4pm

18WBCDE05A

245

375

Your Desk

12/5

Detecting and Preventing Accounts Payable Fraud WEBINAR, 7am-9am

18WNCDE05A

Your Desk

12/5

Financial Accounting for Related Party Transactions WEBINAR, 2pm-4pm

18WNCDE05B

Your Desk

12/5

Payments Fraud: Detect & Prevent Check, ACH and P-Card Schemes WEBINAR, 10am-12pm

18WNCDE05C

Your Desk

12/6

Audit Methodologies and Documentation WEBINAR, 12pm-2pm

18WNCDE06A

Your Desk

12/6

Small-Business Internal Control, Security and Fraud Prevention and Detection WEBCAST, 8:30am-4pm

18WBCDE06B

245

375

Your Desk

12/8

Improve Your Profit: Identify Cost Cutting Opportunities WEBINAR, 9am-11am

18WNCDE08A

Your Desk

12/8

Procure-to-Pay Fraud: Detection and Prevention Best Practice WEBINAR, 12pm-2pm

18WNCDE08B

Your Desk

12/11

Detecting and Preventing Internal Fraud, Theft and Abuse WEBINAR, 12pm-2pm

18WNCDE11B

Your Desk

12/11

Documentation Requirements, Design and Reviewing Techniques of Workpapers WEBCAST, 8:30am-4pm

18WBCDE11A

245

375

Your Desk

www.wscpa.org

Networking event

WashingtonCPA Fall 2017

EDUCATION AND EVENTS Date

CPE Credits

Course

Code

WSCPA Member Fee

Type

NonMember Fee

AICPA Member Discount

Location

Accounting and Auditing 12/11

Small GAAP: AICPA Private Company Financial Reporting Standards WEBINAR, 1pm-3pm

18WNCDE11D

Your Desk

12/12

Annual Update for Preparation, Compilation, and Review Engagements, 8am-4pm

18CORUDE12

305

405

Bellingham

12/12

Sales Tricks to Fool CFOs and Auditors WEBINAR, 1pm-3pm

18WNCDE12B

Your Desk

12/13

Defective Compensation Systems: When Bonuses and Incentives Go Bad WEBINAR, 3pm-5pm

18WNCDE13A

Your Desk

12/13

Internal Control Best Practices for Small- and Medium-Sized Entities, 8am-4pm

18ICSMDE

305

405

Bellingham

12/13

The Accountant's Role in Mergers and Acquisitions WEBCAST, 8:30am-4pm

18WBCDE13C

245

375

Your Desk

12/14

10 Commonly Missed Analytical Procedures WEBINAR, 1pm-3pm

18WNCDE14B

Your Desk

12/15

Fake Confirmations, Reports, and Opinions: Detection and Solutions WEBINAR, 1pm-3pm

18WNCDE15B

Your Desk

12/18

2017 Business Fraud Update WEBCAST, 7am-3pm

18WBADE18A

195

245

Your Desk

12/18

Identity Theft: Preventing, Detecting, and Investigating WEBCAST, 7:30am-3:30pm

18WBBDE18B

249

319

Your Desk

12/19

2017 Not-for-Profit Accounting, Auditing & Tax Update WEBCAST, 7am-3pm

18WBADE19A

195

245

Your Desk

12/19

SSARS 21: The Newly Effective Preparation, Compilation and Review Standards WEBCAST, 8:30am-4pm

18WBCDE19B

245

375

Your Desk

12/20

GAAP Update WEBCAST, 8:30am-4pm

18WBCDE20A

245

375

Your Desk

12/21

Financial Accounting and Reporting Standards: The Annual Update and Review of GAAP, the Tax and Cash Special Reporting Frameworks, and the AICPA’s Preparation, Compilation, Review and Audit St WEBCAST, 8am-4pm

18WWARSUR

600

700

Your Desk

12/21

18ARSURDE

610

710

Bellevue

12/21

Tax Practitioner's Guide to Accounting and Reporting Issues WEBCAST, 8:30am-4pm

18WBCDE21B

245

375

Your Desk

12/27

Closing Best Practices-Shortening Month End WEBINAR, 9am-11am

18WNCDE27A

Your Desk

12/27

DATE CHANGE: 2017 Accounting and Auditing Update WEBCAST, 7am-3pm

18WBADE28C

195

245

Your Desk

12/27

Interpreting the New Revenue Recognition Standard: What All CPAs Need to Know WEBCAST, 10am-2pm

18WBBDE27A

159

199

Your Desk

12/27

Preparation, Compilation and Review Standards: The Best Annual Update and Review of the SSARS by Walter J. Haig WEBCAST, 8am-4pm

18WWPCRUR

315

415

Your Desk

12/27

Preparation, Compilation and Review Standards: The Best Annual Update and Review of the SSARS by Walter J. Haig, 8am-4pm

18PCRURDE

325

425

Bellevue

12/27

Understanding the Complexities of Fraud in Order to Develop Ways to Mitigate Risk WEBCAST, 8:30am-4pm

18WBCDE27A

245

375

Your Desk

12/28

Education: 10 New Risks-Elementary to University WEBINAR, 10am-12pm

18WNCDE28B

Your Desk

12/28

Preparing Financial Statements for Small- and Medium-Sized Businesses: The Best Annual Update and Review of U.S. GAAP, Tax and Cash Financial Reporting Frameworks by Walter J. Haig, 8am-4pm

18PFSSMEDE

325

425

Bellevue

12/28

Preparing Financial Statements for Small- and Medium-Sized Businesses: The Best Annual Update and Review of U.S. GAAP, Tax and Cash Financial Reporting Frameworks by Walter J. Haig WEBCAST, 8am-4pm

18WWPFSSM2

315

415

Your Desk

12/29

Hot Topics in the Financial and Reporting Standards: Topics That All CPAs Should Have a Basic Understanding Of! by Walter J. Haig WEBCAST, 8am-4pm

18WWHOTTP

315

415

Your Desk

12/29

Hot Topics in the Financial and Reporting Standards: Topics That All CPAs Should Have a Basic Understanding Of! by Walter J. Haig, 8am-4pm

18HOTTPDE

325

425

Bellevue

1/2

Payments Fraud: Detect & Prevent Check, ACH and P-Card Schemes WEBINAR, 11am-1pm

18WNCJA02A

Your Desk

1/3

Review of Significant Accounting Topics WEBCAST, 8:30am-4pm

18WBCJA03A

245

375

Your Desk

1/4

Small GAAP: AICPA Private Company Financial Reporting Standards WEBINAR, 10am-12pm

18WNCJA04A

Your Desk

1/9

Guiding Clients in the Private Equity Capital Market WEBCAST, 8:30am-4pm

18WBCJA09C

245

375

Your Desk

1/10

2017 Financial Statement Preparation, Compilation, and Review WEBCAST, 7am-3pm

18WBAJA10A

195

245

Your Desk

1/10

Audit Standards Update: Clarifying Risk Assessment WEBCAST, 8:30am-4pm

18WBCJA10A

245

375

Your Desk

1/11

Classification and Measurements WEBCAST, 8:30am-4pm

18WBCJA11A

245

375

Your Desk

WashingtonCPA Fall 2017

Networking event

www.wscpa.org

CPE Credits

Course

EDUCATION AND EVENTS Code

Type

WSCPA Member Fee

NonMember Fee

AICPA Member Discount

Location

Accounting and Auditing 1/12

Private Company Accounting: New Challenges, New Directions WEBCAST, 8:30am-4pm

18WBCJA12A

245

375

Your Desk

1/15

COSO: ERM for Small and Medium-Sized Enterprises WEBCAST, 8:30am-4pm

18WBCJA15B

245

375

Your Desk

1/16

Accounting and Auditing Update WEBCAST, 8:30am-4pm

18WBCJA16A

245

375

Your Desk

1/17

Other Comprehensive Basis of Accounting Fundamentals WEBCAST, 8:30am-4pm

18WBCJA17B

245

375

Your Desk

1/18

Cash and Credit Management WEBCAST, 8:30am-4pm

18WBCJA18A

245

375

Your Desk

1/22

GAAP Update WEBCAST, 8:30am-4pm

18WBCJA22C

245

375

Your Desk

1/23

2017 Accounting and Auditing Update WEBCAST, 7am-3pm

18WBAJA23A

195

245

Your Desk

1/23

The Business Financial Health Checkup: A Process to Identify Misstatements and Profitability Roadblocks Using Analytical Procedures as the Primary Tool by Walter J. Haig, 8am-4pm

18BFHCJA

325

425

Bellevue

1/23

U.S. GAAP Disclosures for Non-Public Entities WEBCAST, 8:30am-4pm

18WBCJA23B

245

375

Your Desk

1/24

Deception, Embezzlement and Fraud WEBCAST, 8:30am-4pm

18WBCJA24A

245

375

Your Desk

1/24

Preparing Financial Statements for Small- and Medium-Sized Businesses: The Best Annual Update and Review of U.S. GAAP, Tax and Cash Financial Reporting Frameworks by Walter J. Haig, 8am-4pm

18PFSSMEDJ

325

425

Bellevue

1/24

Tax Practitioner's Guide to Accounting and Reporting Issues WEBCAST, 8:30am-4pm

18WBCJA24B

245

375

Your Desk

1/25

Financial Statement Risks: Fraud, Misstatements and Earnings Management WEBCAST, 8:30am-4pm

18WBCJA25A

245

375

Your Desk

1/25

Preparation, Compilation and Review Standards: The Best Annual Update and Review of the SSARS by Walter J. Haig WEBCAST, 8am-4pm

18WWCRURJ

315

415

Your Desk

1/25

Preparation, Compilation and Review Standards: The Best Annual Update and Review of the SSARS by Walter J. Haig, 8am-4pm

18PCRURJA

325

425

Bellevue

1/26

The Personal Financial Health Checkup: The Best Personal Financial Planning Course by Walter J. Haig, 8am-4pm

18PFHCJA

325

425

Bellevue

1/29

Revenue Recognition—10 Risks NOT in the New Standard WEBINAR, 12pm-2pm

18WNCJA29A

Your Desk

1/31

SSARS 21: The Newest Thing in Compilation and Review WEBCAST, 8:30am-4pm

18WBCJA31B

245

375

Your Desk

Business & Industry 10/23

Mergers and Acquisitions: Fundamentals of Acquiring or Selling Mid-Market Companies and Professional Service Organizations WEBCAST, 8:30am-4pm

18WBCOC23C

245

375

Your Desk

10/27

10 Fatal Mistakes to Avoid: Learn from Others' Business Errors WEBINAR, 9am-11am

18WNCOC27A

Your Desk

11/1

The Successful Family Business WEBCAST, 7am-11am

18WBANV01A

129

159

Your Desk

11/6

The Finance Team of Tomorrow: Reinventing the Finance Role WEBINAR, 9am-11am

18WNCNV06C

Your Desk

11/14

Mergers & Acquisitions: Tricks, Traps, & Terrors WEBCAST, 9am-1pm

18WBANV14D

129

159

Your Desk

11/17

Business Lessons from the Dance Floor-Leadership Secrets from Fred & Ginger WEBCAST, 7am-9am

18WBANV17A

109

Your Desk

11/17

Business Valuation: A Review of the Essentials WEBCAST, 8:30am-4pm

18WBCNV17A

245

375

Your Desk

12/13

Mergers and Acquisitions: Fundamentals of Acquiring or Selling Mid-Market Companies and Professional Service Organizations WEBCAST, 8:30am-4pm

18WBCDE13B

245

375

Your Desk

1/5

Effective Tax Return and Cash Flow Analysis WEBCAST, 8:30am-4pm

18WBCJA05A

245

375

Your Desk

1/9



Results Rule!-How High is Your Credibility Quotient? WEBINAR, 8am-10am

18WNCJA09B

Your Desk

1/10



Relationships Rock!-How High is Your Trust Quotient? WEBINAR, 12pm-2pm

18WNCJA10A

Your Desk

1/19

Develop Your Company's Scorecard: Keep Success on Track WEBINAR, 9am-11am

18WNCJA19A

Your Desk

1/24

Cash Conversion Cycle: Tools and Techniques WEBINAR, 9am-11am

18WNCJA24B

Your Desk

1/29

Business Valuation: A Review of the Essentials WEBCAST, 8:30am-4pm

18WBCJA29A

245

375

Your Desk

1/30

Resources Reign!-How High is Your Respect Quotient? WEBINAR, 10am-12pm

18WNCJA30A

Your Desk

1/31

HIPAA Data Security: Legal Requirements & Handling Breaches WEBINAR, 10am-12pm

18WNCJA31A

Your Desk

Pension and Profit-Sharing Plan Strategies WEBCAST, 8:30am-4pm

18WBCDE12B

245

375

Your Desk



Employee Benefits 12/12

www.wscpa.org

Networking event

WashingtonCPA Fall 2017

EDUCATION AND EVENTS Date

CPE Credits

Course

Code

WSCPA Member Fee

Type

NonMember Fee

AICPA Member Discount

Location

Ethics 10/28

Washington CPA Ethics and New Developments 2017 by Mark Hugh (A WA Requirement) WEBCAST, 8am-12pm

18WBAOC28A

164

194

Your Desk

11/3

L E

Washington CPA Ethics and New Developments by Mark Hugh (A WA Requirement)-AFTERNOON, 12:30pm-4pm

18ETMHNVP

189

289

Bellevue

11/3

L E

Washington CPA Ethics and New Developments by Mark Hugh (A WA Requirement)-MORNING, 8am-11:30am

18ETMHNVA

189

289

Bellevue

11/17

L E

Washington CPA Ethics and New Developments by Mark Hugh (A WA Requirement), 8am-11:30am

18ETMHNV

189

239

Spokane

11/20

L E

Washington CPA Ethics and New Developments 2017 by Mark Hugh (A WA Requirement) WEBCAST, 8am-12pm

18WBANV20A

164

194

Your Desk

12/1

L E

Professional Conduct & Ethics – AICPA and Washington Board CPA Regulatory Update – 2017, 8am-11:30am

18ETJRDE

189

239

Olympia

12/5

L E

Oregon and Washington Ethics: New Developments (4 hours-morning), 8am-11:45am

18WOETH

189

239

Portland

12/7

L E

Rules, Regulations, and Ethics for CPAs in Washington by Thomas Neill (A WA Requirement), 8am-11:30am

18ETTNDE

189

239

Lynnwood

12/11

L E

Washington CPA Ethics and New Developments by Mark Hugh (A WA Requirement), 8am-12pm

18ETMHDE

189

239

Tacoma

12/14

L E

Rules, Regulations, and Ethics for CPAs in Washington by Thomas Neill (A WA Requirement), 8am-11:30am

18ETTNDE14

189

239

Bellingham

12/18

L E

Rules, Regulations, and Ethics for CPAs in Washington by Thomas Neill (A WA Requirement)-AFTERNOON, 12:30pm-4pm

18ETTNDEP

189

239

Bellevue

12/18

L E

Rules, Regulations, and Ethics for CPAs in Washington by Thomas Neill (A WA Requirement)-MORNING, 8am-11:30am

18ETTNDEA

189

239

Bellevue

12/28

L E

Rules, Regulations, and Ethics for CPAs in Washington by Thomas Neill (A WA Requirement), 8am-11:30am

18ETTNDE28

189

239

Bellevue

12/29

L E

Washington CPA Ethics and New Developments 2017 by Mark Hugh (A WA Requirement) WEBCAST, 8am-12pm

18WBADE29B

164

194

Your Desk

Financial Planning Services 11/14

Medicare and Its Gaps: What You and Your Clients Simply MUST Know WEBCAST, 11am-12pm

18WBANV14C

9.75

Your Desk

11/14

Social Security 201: Mastering the Client Mysteries WEBCAST, 9am-10am

18WBANV14A

9.75

Your Desk

11/14

Social Security 202: Advanced Client Strategies Update WEBCAST, 10am-11am

18WBANV14B

9.75

Your Desk

11/17

Social Security: Advanced Education and Training WEBCAST, 8:30am-4pm

18WBCNV17B

245

375

Your Desk

11/17

Trust Accounting Workshop, 8am-4pm

18TANV

305

405

Bellevue

12/12

Medicare and Its Gaps: What You and Your Clients Simply MUST Know WEBCAST, 11am-12pm

18WBADE12C

9.75

Your Desk

12/12

Social Security 201: Mastering the Client Mysteries WEBCAST, 9am-10am

18WBADE12A

9.75

Your Desk

12/12

Social Security 202: Advanced Client Strategies Update WEBCAST, 10am-11am

18WBADE12B

9.75

Your Desk

12/15

Lunchtime Learning: Eldercare Practice, 12pm-1pm

18LLDE15

Your Desk

12/20

50 Facts Every Investor Should Know WEBCAST, 11am-12pm

18WBADE20C

Your Desk

12/20

Beyond Buffet: Everything You Need to Know About Value Investing WEBCAST, 9am-10am

18WBADE20A

Your Desk

12/21

Financial Fitness Forever-Five Steps to More Money, Less Risk and More Peace of Mind WEBCAST, 9am-12pm

18WBADE21A

24.75

Your Desk

1/5

Social Security: Advanced Education and Training WEBCAST, 8:30am-4pm

18WBCJA05B

245

375

Your Desk

1/9

Medicare and Its Gaps: What You and Your Clients Simply MUST Know WEBCAST, 11am-12pm

18WBAJA09C

9.75

Your Desk

1/9

Social Security 201: Mastering the Client Mysteries WEBCAST, 9am-10am

18WBAJA09A

9.75

Your Desk

1/9

Social Security 202: Advanced Client Strategies Update WEBCAST, 10am-11am

18WBAJA09B

9.75

Your Desk

1/9

Social Security Basics and Strategies For Maximizing Benefits WEBCAST, 8:30am-4pm

18WBCJA09A

245

375

Your Desk

1/19

Advanced Personal Financial Planning Update WEBCAST, 8:30am-4pm

18WBCJA19A

245

375

Your Desk

1/25

Financial Fitness Forever-Five Steps to More Money, Less Risk and More Peace of Mind WEBCAST, 9am-12pm

18WBAJA25A

24.75

Your Desk

1/26

50 Facts Every Investor Should Know WEBCAST, 11am-12pm

18WBAJA26B

Your Desk

WashingtonCPA Fall 2017

Networking event

www.wscpa.org

Need Some Free CPE? Try our new

LUNCHTIME LEARNING

Webinar Series

Date Event 2017 Nov. 3 The Risky Business of Fraud Nov. 17 Marijuana Update Dec. 1 Washington Tax Developments with Mark Hugh Dec. 15 Eldercare Practice

2018 Jan. 12 You've Been Hacked... Now What?? Jan. 26 What’s Old, What’s New, and What’s Still to Come in the Changing World of Federal Income Tax Feb. 2 Conquering Office Chaos! Feb. 16 Managing Human Resource Issues

Grab your lunch, your laptop, and get some bite-size morsels of CPE with your newest member benefit: the Lunchtime Learning CPE Series!

• Free for WSCPA members ($40 each for non-members) • Webinars are scheduled for select Fridays, 12:00-1:00 p.m. • Register for each webinar in advance. • Earn one hour CPE credit per webinar.

* This webinar will be held on a Thursday. Times and topics subject to change according to speaker availability.

Mar. 9 IFRS Update Apr. 27 Key International Tax Issues* May 4 Professional Issues Update May 18 Advanced Leadership for Purposeful Change www.wscpa.org

EDUCATION AND EVENTS Date

CPE Credits

Course

Code

WSCPA Member Fee

18WBAJA26A

Your Desk

Type

NonMember Fee

AICPA Member Discount

Location

Financial Planning Services 1/26

Beyond Buffet: Everything You Need to Know About Value Investing WEBCAST, 9am-10am

Government / Not-For-Profit 11/7-8

L Y 

Not-For-Profit and Health Care Conference 2017, 8am-5pm

18NFPC

480

590

Lynnwood

11/7-8

Y 

Not-For-Profit Conference 2017 WEBCAST, 8am-5pm

18WWNFPC

470

580

Your Desk

11/10

Yellow Book Financial Audits WEBCAST, 10am-2pm

18WBBNV10A

159

199

Your Desk

11/13

Audits of HUD-Assisted Projects WEBCAST, 10am-2pm

18WBBNV13A

159

199

Your Desk

11/15

Fraud Risk in Governmental and Not-for-Profit Organizations WEBCAST, 10am-2pm

18WBBNV15A

159

199

Your Desk

11/20

New Financial Reporting Requirements for Nonprofits WEBCAST, 8am-12pm

18WBANV08A

129

159

Your Desk

11/20

What You Need to Know to Audit Government Programs WEBINAR, 7am-9am

18WNCNV20C

Your Desk

11/20

Yellow Book Standards for CPAs in Public Practice WEBINAR, 10:30am-12:30pm

18WNCNV20D

Your Desk

11/27

Government Update: 10 New A&A Risks for CPAs WEBINAR, 3pm-5pm

18WNCNV27B

Your Desk

11/28

Single Audit Primer and Update WEBINAR, 1pm-3pm

18WNCNV28B

Your Desk

11/28

The GAO’s Green Book: Internal Controls WEBINAR, 10:30am-12:30pm

18WNCNV28C

Your Desk

11/28

Yellow Book Standards for CPAs in Public Practice WEBINAR, 7am-9am

18WNCNV28D

Your Desk

11/29

5 Elements of a Finding WEBINAR, 10am-12pm

18WNCNV29A

Your Desk

12/2

Practical Solutions for Federal Grants Compliance: A Comprehensive Look at the New Uniform Guidance WEBCAST, 7am-3pm

18WBADE02A

195

245

Your Desk

12/4

Government Fraud & Abuse: How Reporters Find It Before Auditors WEBINAR, 9:30am-11:30am

18WNCDE04B

Your Desk

12/6

Single Audit Primer and Update WEBINAR, 9am-11am

18WNCDE06B

Your Desk

12/6

Single Audits: A Case Study Approach WEBCAST, 8:30am-4pm

18WBCDE06A

245

375

Your Desk

12/6

Yellow Book Standards for CPAs in Public Practice WEBINAR, 2:30pm-4:30pm

18WNCDE06C

Your Desk

12/11

Fraud Risk in Governmental and Not-for-Profit Organizations WEBCAST, 10am-2pm

18WBBDE11B

159

199

Your Desk

12/13

Avoiding Problems in Conducting Single Audits WEBCAST, 8:30am-4pm

18WBCDE13A

245

375

Your Desk

12/13

Government Fraud Investigator: War Stories from the Trenches WEBINAR, 8am-10am

18WNCDE13C

Your Desk

12/13

New Financial Reporting Requirements for Nonprofits WEBCAST, 8am-12pm

18WBADE13D

129

159

Your Desk

12/18

The GAO’s Green Book: Internal Controls WEBINAR, 1pm-3pm

18WNCDE18B

Your Desk

12/18

What You Need to Know to Audit Government Programs WEBINAR, 9:30am-11:30am

18WNCDE18C

Your Desk

12/19

Government Update: 10 New A&A Risks for CPAs WEBINAR, 1pm-3pm

18WNCDE19B

Your Desk

12/19

Non-Profit Update: 10 A&A Risks for Controllers and Auditors WEBINAR, 10am-12pm

18WNCDE19C

Your Desk

12/19

Not-for-Profit Accounting and Auditing Update WEBCAST, 10am-2pm

18WBBDE19A

159

199

Your Desk

12/20

2017 Governmental Accounting & Auditing Update WEBCAST, 7am-3pm

18WBADE20B

195

245

Your Desk

12/20

Yellow Book Financial Audits WEBCAST, 10am-2pm

18WBBDE20A

159

199

Your Desk

1/9

Performance Auditing Essentials WEBINAR, 7am-9am

18WNCJA09A

Your Desk

1/10

New Financial Reporting Requirements for Nonprofits WEBCAST, 8am-12pm

18WBAJA10B

129

159

Your Desk

Management 10/23

Advanced Business Law for CPAs, 8am-4pm

18ABLTOC

305

405

Bellevue

10/25

Millennials: Myths and Truths Behind the Next Gen of Leaders WEBINAR, 8am-10am

18WNCOC25C

Your Desk

10/25

Toolkit of Best Practices for Today's Controller and Financial Manager WEBCAST, 8am-4pm

18WWTKBPOC

295

395

-30

Your Desk

10/25

Toolkit of Best Practices for Today's Controller and Financial Manager, 8am-4pm

18TKBPOC

305

405

-30

Bellevue

11/7

Annual Update for Controllers, 8am-4pm

18SKSB1NV

305

405

WashingtonCPA Fall 2017

Bellevue

Networking event

www.wscpa.org

CPE Credits

EDUCATION AND EVENTS

Course

Code

Type

WSCPA Member Fee

NonMember Fee

AICPA Member Discount

Location

Management 11/7

Risk, Cost, and Cash Management for Controllers and Financial Managers WEBCAST, 10am-2pm

18WBBNV07A

249

319

Your Desk

11/15

Preparing your Practice for Sale and Selling It! WEBCAST, 10am-12pm

18WBANV15D

109

Your Desk

11/17

Develop Your Company's Scorecard: Keep Success on Track WEBINAR, 9am-11am

18WNCNV17A

Your Desk

11/18

Practical Strategic Planning WEBCAST, 9am-1pm

18WBANV18A

129

159

Your Desk

11/21

Corporate Finance Check-up: Renovate Your Analytical Toolbox WEBCAST, 8am-4pm

18WWCFCnv

295

395

Your Desk

11/21

Corporate Finance Check-up: Renovate Your Analytical Toolbox, 8am-4pm

18CFCnv

305

405

Bellevue

11/27

Financial Statement Analysis WEBCAST, 8:30am-4pm

18WBCNV27A

245

375

Your Desk

11/30

The CFO: 5 Critical Skills to Maximize Profits WEBINAR, 10am-12pm

18WNCNV30C

Your Desk

12/4

CFO Series: Essential Skills WEBCAST, 8am-4pm

18WWCFODE

295

395

Your Desk

12/4

CFO Series: Essential Skills, 8am-4pm

18CFODE

305

605

Bellevue

12/5

The Tactical CFO: Make Your Business Processes Work for You, 8am-4pm

18TCFODE

305

405

Bellevue

12/13

Preparing your Practice for Sale and Selling It! WEBCAST, 10am-12pm

18WBADE13E

109

Your Desk

12/18

Scenarios, Contingency Planning, & Simulation to Achieve Your Goals & Strategy WEBCAST, 8am-4pm

18WBADE18B

195

245

Your Desk

12/18

The CFO: 5 Critical Skills to Maximize Profits WEBINAR, 2pm-4pm

18WNCDE18A

Your Desk

12/20

Develop Your Company's Scorecard: Keep Success on Track WEBINAR, 9am-11am

18WNCDE20A

Your Desk

12/20

Millennials: Myths and Truths Behind the Next Gen of Leaders WEBINAR, 11am-1pm

18WNCDE20C

Your Desk

1/15

Corporate Finance Checkup: Renovate Your Analytical Toolbox WEBCAST, 8:30am-4pm

18WBCJA15A

245

375

Your Desk

1/15

Preparing Your Practice for Sale-And Selling It! WEBCAST, 10am-12pm

18WBAJA15C

109

Your Desk

Personal Development 10/25



Have the Difficult Conversation You’ve Been Dreading WEBINAR, 11am-1pm

18WNCOC25B

Your Desk

11/8



Demonstrating Value to Your Organization WEBINAR, 9am-11am

18WNCNV08A

Your Desk

11/13



Have the Difficult Conversation You’ve Been Dreading WEBINAR, 10am-12pm

18WNCNV13A

Your Desk

11/14

 l S

2017 E Clair Daniels Symposium, 11am-2:30pm

18CHSPNV14

Spokane

12/6

 l S

Getting it Right: Strategic Leadership in Complex, Uncertain and Ambiguous Times! 12pm-2pm

18CHOLDE06

Olympia

12/11

 l S

Burning Bright Without Burning Out, 12pm-1pm

18CHTCDE11

Richland

12/13



Leaders Eat Last: The Characteristics of Great Leaders WEBINAR, 9am-11am

18WNCDE13D

Your Desk

12/20



Have the Difficult Conversation You’ve Been Dreading WEBINAR, 8am-10am

18WNCDE20B

Your Desk

Specialized Knowledge 10/24

ESOPs: Uses, Strategies, Benefits and Pitfalls WEBCAST, 8:30am-4pm

18WBCOC24B

245

375

Your Desk

10/30

Spokane Leadership Lens: Branding and Building Businesses in The Digital Age, 3:30pm-5:30pm

18NWOC30

Spokane

11/1

Putting the Love of Money Ahead of Ethics, 12pm-2pm

18CHOLNV01

Olympia

11/15

Tax Practice Ethical and Legal Standards WEBCAST, 10am-12pm

18WBANV15B

109

Your Desk

11/16

L 

Construction Industry Conference 2017, 8am-5pm

18CIC

360

460

SeaTac

11/16



Construction Industry Conference 2017 WEBCAST, 8am-5pm

18WWCIC

315

415

Your Desk

12/11

L 

Fraud Conference 2017, 8am-5pm

18FDC

295

395

Bellevue

12/13

Tax Practice Ethical and Legal Standards WEBCAST, 10am-12pm

18WBADE13B

109

Your Desk

1/15

Tax Practice Ethical and Legal Standards WEBCAST, 10am-12pm

18WBAJA15B

109

Your Desk

l S

www.wscpa.org

Networking event

WashingtonCPA Fall 2017

EDUCATION AND EVENTS Date

CPE Credits

Course

Code

WSCPA Member Fee

Type

NonMember Fee

AICPA Member Discount

Location

Taxation 12/7-8

Partnership Taxation WEBCAST, 8am-4pm

18WWPTSDE

555

655

Your Desk

10/23

Cost Capitalization A to Z WEBCAST, 8:30am-4pm

18WBCOC23B

245

375

Your Desk

10/23

Real Estate Tax Update: Key Changes for Investors and Owners WEBINAR, 9am-11am

18WNCOC23B

Your Desk

10/23

Real Estate Taxation: Cutting Edge Tax Strategies in the Taxation of Real Estate WEBCAST, 8am-4pm

18WWGGRETO

300

400

Your Desk

10/23

Real Estate Taxation: Cutting Edge Tax Strategies in the Taxation of Real Estate, 8am-4pm

18GGRETOC

310

410

Bellevue

10/24

Business Tax Update and Recent Developments WEBINAR, 10:30am-12:30pm

18WNCOC24A

Your Desk

10/24

Construction Contractors: Special Tax and Accounting Considerations WEBCAST, 8:30am-4pm

18WBCOC24A

245

375

Your Desk

10/24

Individual Tax Update and Recent Developments WEBINAR, 8am-10am

18WNCOC24B

Your Desk

10/24

Multistate Income Tax WEBCAST, 8am-4pm

18WWMITOC

295

395

-30

Your Desk

10/24

Multistate Income Tax, 8am-4pm

18MITOC

305

405

-30

Bellevue

10/25

Financial and Tax Planning for Divorce: A Guide to Identifying Pitfalls and Developing Practical Solutions WEBCAST, 8:30am-4pm

18WBCOC25A

245

375

Your Desk

10/25

Understanding Partnership and LLC Taxation WEBCAST, 8:30am-4pm

18WBCOC25B

245

375

Your Desk

10/26

Like-Kind Exchanges and Involuntary Conversions WEBCAST, 8am-4pm

18WWLKEOC

295

395

Your Desk

10/26

Like-Kind Exchanges and Involuntary Conversions, 8am-4pm

18LKEOC

305

405

Bellevue

10/26

S Corporations: How to Calculate the Owner's Basis in S Corporation Stock WEBINAR, 9:30am-11:30am

18WNCOC26A

Your Desk

10/26

Tax Research Skills WEBCAST, 8:30am-4pm

18WBCOC26A

245

375

Your Desk

10/27

Living Trust Administration Workshop WEBCAST, 8:30am-4pm

18WBCOC27B

245

375

Your Desk

10/27

Passive Activities Rules: Cutting-Edge Tax Strategies in Passive Losses WEBCAST, 8:30am-4pm

18WBCOC27C

245

375

Your Desk

10/27

Unraveling the At-Risk Rules, 8am-4pm

18UAROC

305

405

Bellevue

10/28

Washington B&O Tax and New Developments 2017 by Mark Hugh WEBCAST, 8am-12pm

18WBAOC28B

129

159

Your Desk

10/28

Washington Sales Tax and New Developments 2017 by Mark Hugh WEBCAST, 12pm-4pm

18WBAOC28C

129

159

Your Desk

10/30

Annual Tax Update: Corporations and Pass-Through Entities WEBCAST, 7:30am-3:30pm

18WBBOC30A

249

319

Your Desk

10/30

Strategies for Tax Dispute Resolution WEBCAST, 8:30am-4pm

18WBCOC30B

245

375

Your Desk

10/31

Allocating Partnership/LLC Income, Losses and Debt to Partners WEBCAST, 8:30am-12pm

18WBCOC31A

120

188

Your Desk

10/31



Pacific Tax Institute 2017 WEBCAST, 8am-5pm

18WWPTI

648

755

Your Desk

10/3111/1

L 

Pacific Tax Institute 2017, 8am-5pm

18PTI

655

765

Seattle

10/31

Section 754 Elections' Redemption of a Partner WEBCAST, 12:30pm-4pm

18WBCOC31B

120

188

Your Desk

11/1

Deal Structure for Mergers and Acquisitions WEBCAST, 8:30am-4pm

18WBCNV01A

245

375

Your Desk

11/1

Foreign Account Reporting Requirements: FINCEN 114(FBAR) and Form 8938 WEBINAR, 11am-1pm

18WNCNV01B

Your Desk

11/1

S Corporation Taxation: Cutting-Edge Tax Strategies WEBCAST, 8:30am-4pm

18WBCNV01B

245

375

Your Desk

11/2

Mitigation of International Double Taxation WEBCAST, 8:30am-4pm

18WBCNV02A

245

375

Your Desk

11/2

Partnership and LLC Taxation: Cutting-Edge Tax Strategies for Entities Taxed as Partnerships WEBCAST, 8:30am-4pm

18WBCNV02B

245

375

Your Desk

11/3

Resolving the Passive Custodian Paradox WEBCAST, 12pm-5pm

18WBANV03A

139

169

Your Desk

11/3

S Corporations: The Fundamentals and More WEBCAST, 8:30am-4pm

18WBCNV03B

245

375

Your Desk

11/6

Entity Choice-Tax Considerations WEBCAST, 8:30am-4pm

18WBCNV06A

245

375

Your Desk

11/6

Individual Tax Update and Recent Developments WEBINAR, 2pm-4pm

18WNCNV06B

Your Desk

11/6

Multistate Taxation WEBCAST, 7:30am-3:30pm

18WBBNV06A

249

319

Your Desk

11/6

Washington Tax and New Developments, 8am-4pm

18WSTXNV6

305

405

Bellevue

11/7

Business Tax Update and Recent Developments WEBINAR, 10am-12pm

18WNCNV07A

Your Desk

WashingtonCPA Fall 2017

Networking event

www.wscpa.org

CPE Credits

EDUCATION AND EVENTS

Course

Code

IRS Practice and Procedure: Audit, Appeals, Assessment, Settlement & Collection, 8am-4pm

18IPPNV

310

410

Tacoma

Form 1041: Down to the Basics WEBCAST, 8:30am-4pm

18WBCNV08A

245

375

Your Desk

Partnership and LLC Taxation: Advanced, 8am-4pm

18PTAINV

310

410

Tacoma

Type

WSCPA Member Fee

NonMember Fee

AICPA Member Discount

Location

Taxation 11/7

11/8

11/9

Capitalized Costs and Depreciation: Key Issues and Answers WEBCAST, 7am-2pm

18WBBNV09A

159

199

Your Desk

11/9

Captive Insurance: An Effective Financial and Risk Management WEBINAR, 11am-1pm

18WNCNV09A

Your Desk

11/9

Federal Tax Update: Individuals (Form 1040) WEBCAST, 8:30am-4pm

18WBCNV09A

245

375

Your Desk

11/9

Tax Considerations and Consequences for Closely Held Businesses, 8am-4pm

18CHTXNV1

305

405

Bellevue

11/910

Tax Staff Training-Individual, 8am-4pm

18TSTINV

565

665

Bellevue

11/10

Federal Tax Update: C & S Corporations, Partnerships & LLCs (Forms 1120, 1120S & 1065) WEBCAST, 8:30am-4pm

18WBCNV10A

245

375

Your Desk

11/10

Washington State Community Property and Estate Tax Law Update WEBCAST, 8am-4pm

18WWWKCPNV

295

395

Your Desk

11/10

Washington State Community Property and Estate Tax Law Update, 8am-4pm

18WKCPNV

305

405

Bellevue

11/13

Choice of Entity WEBCAST, 8am-4pm

18WWGGCOE

275

375

Your Desk

11/13

Choice of Entity, 8am-4pm

18GGCOENV

310

410

Bellevue

11/13

Got Your Assets Covered? WEBCAST, 9am-2pm

18WBANV13A

139

169

Your Desk

11/13

Individual Tax Fundamentals WEBCAST, 7:30am-3:30pm

18WBBNV13B

249

319

Your Desk

11/13

Real Estate Professionals and Passive Activity: When to They Exist and How to Report Them WEBINAR, 2pm-4pm

18WNCNV13B

Your Desk

11/13

Top 10 Tax Topics of 2017, 8am-4pm

18TTENNV

320

420

Bellevue

11/14

Best S Corporation, Limited Liability, and Partnership Update Course, 8am-4pm

18BCPENV

320

420

Bellevue

11/14

Choice of and Formation of Entity WEBCAST, 10am-2pm

18WBBNV14A

159

199

Your Desk

11/14

Passive Activity Rules and the Net Investment Income Tax WEBINAR, 9am-11am

18WNCNV14A

Your Desk

11/15

2017 A CPA’s Guide to the Purchase and Sale of a Business WEBCAST, 7am-3pm

18WBANV15C

195

245

Your Desk

11/15

Determining How Much Money You Need to Retire, and Tax Ideas and Money Management in Retirement, 8am-4pm

18DRMMNV

320

420

Bellevue

11/15

Travel and Entertainment Expenses: Review and Update WEBINAR, 10:30am-12:30pm

18WNCNV15D

Your Desk

11/15

Understanding Your Unclaimed Property Requirements WEBCAST, 9am-10am

18WBANV15A

Your Desk

11/16

Basis Calculations & Distributions for Pass-Through Entity Owners: Schedule K-1 Analysis WEBCAST, 8:30am-4pm

18WBCNV16A

245

375

Your Desk

11/16

Self-Rental Passive Activity: When Does it Exist and How Do You Report It WEBINAR, 1pm-3pm

18WNCNV16A

Your Desk

11/16

Social Security, Medicare, and Prescription Drug Retirement Benefits: What Every Baby Boomer Needs to Know Now, 8am-4pm

18SSRBNV

320

420

Bellevue

11/16

Washington Tax and New Developments, 8am-4pm

18WSTXNV16

305

405

Spokane

11/17

Fiduciary Income Tax Returns – Form 1041 Workshop with Filled-In Forms, 8am-4pm

181041NV

320

420

Bellevue

11/17

Lunchtime Learning: Marijuana Update, 12pm-1pm

18LLNV17

Your Desk

11/20

Basis/Distributions for Pass-Through Entities: Simplifying the Complexities WEBCAST, 7:30am-3:30pm

18WBBNV20A

249

319

Your Desk

11/20

Federal Tax Update for Individuals WEBCAST, 8:30am-4pm

18WBCNV20A

245

375

Your Desk

11/20

Final Repair Regulations: Current Developments and Update WEBINAR, 9am-11am 18WNCNV20A

Your Desk

11/20

The Portable Exclusion, Marital Deduction and Future of Survivor's and Bypass Trusts Planning WEBCAST, 8:30am-4pm

18WBCNV20B

245

375

Your Desk

11/21

Capital Gains Tax Strategies for Advanced Transactions WEBINAR, 3pm-5pm

18WNCNV21A

Your Desk

11/21

Federal Tax Update for Businesses and Estates WEBCAST, 8:30am-4pm

18WBCNV21A

245

375

Your Desk

11/21

Tax Depreciation: Current Developments and Update WEBINAR, 1pm-3pm

18WNCNV21B

Your Desk

11/21

Washington B&O Tax and New Developments 2017 by Mark Hugh WEBCAST, 8am-12pm

18WBANV21A

129

159

Your Desk

www.wscpa.org

Networking event

WashingtonCPA Fall 2017

CONFERENCES

2017 Conferences Great topics. Phenomenal speakers. Opportunities too amazing for you to miss! October 31 - November 1

Pacific Tax Institute

November 7-8

Not-For-Profit & Health Care Conference

November 15

Accounting & Auditing Conference

November 16

Construction Industry Conference

December 11-12

Information Technology Conference

December 11

Fraud Conference

webcast available

www.wscpa.org

CPE Credits

EDUCATION AND EVENTS

Course

Code

Type

WSCPA Member Fee

NonMember Fee

AICPA Member Discount

Location

Taxation 11/21

Washington Sales Tax and New Developments 2017 by Mark Hugh WEBCAST, 12pm-4pm

18WBANV21B

129

159

Your Desk

11/27

Best Practices for Payroll Taxes and 1099 Issues WEBCAST, 7:30am-3:30pm

18WBBNV27A

249

319

Your Desk

11/27

Individual Tax Planning WEBCAST, 7:30am-3:30pm

18WBBNV27B

249

319

Your Desk

11/27

IRAs: Contributions & Distributions for Traditional, Roth, SEP & SIMPLE IRAs WEBCAST, 8:30am-4pm

18WBCNV27B

245

375

Your Desk

11/27

Year-End Tax Planning: Thinking Outside the Box WEBINAR, 8am-10am

18WNCNV27C

Your Desk

11/29

Real Estate Tax Update: Key Changes for Investors and Owners WEBINAR, 11am-1pm

18WNCNV29C

Your Desk

11/29

Real Estate Taxation WEBCAST, 8:30am-4pm

18WBCNV29A

245

375

Your Desk

11/30

Business Tax Update and Recent Developments WEBINAR, 12:30pm-2:30pm

18WNCNV30A

Your Desk

11/30

Federal Tax Update Individuals (Form 1040) WEBCAST, 8am-4pm

18WWFTUINV

295

395

Your Desk

11/30

Federal Tax Update Individuals (Form 1040), 8am-4pm

18FTUINV

305

405

Bellevue

11/30

Partnership Investments-How to Calculate the Owner's Basis WEBINAR, 3pm-5pm

18WNCNV30B

Your Desk

11/30

Passive Activity Loss Rules-The Pendulum, At Long Last, Is Swinging Back Our Direction WEBCAST, 1pm-5pm

18WBANV30A

129

159

Your Desk

12/1

Advanced Issues: The Art of the Estate Tax Return WEBCAST, 8:30am-4pm

18WBCDE01A

245

375

Your Desk

12/1

Choice of and Formation of Entity WEBCAST, 10am-2pm

18WBBDE01A

159

199

Your Desk

12/1

Federal Tax Update-C & S Corporations, Partnerships & LLCs (Forms 1120, 1120S & 1065) WEBCAST, 8am-4pm

18WWFTUBDE

295

395

Your Desk

12/1

Federal Tax Update-C & S Corporations, Partnerships & LLCs (Forms 1120, 1120S & 1065), 8am-4pm

18FTUBDE

305

405

Bellevue

12/4

Foreign Account Reporting Requirements: FINCEN 114(FBAR) and Form 8938 WEBINAR, 1pm-3pm

18WNCDE04A

Your Desk

12/4

Form 990 WEBCAST, 7:30am-3:30pm

18WBBDE04A

249

319

Your Desk

12/4

Real Estate Professionals and Passive Activity: When to They Exist and How to Report Them WEBINAR, 8am-10am

18WNCDE04C

Your Desk

12/4

Taxation of Corporations, 7:30am-3:30pm

18WBBDE04B

249

319

Your Desk

12/5

Passive Activity Losses A-Z WEBCAST, 8am-4pm

18WWPALDE

295

395

Your Desk

12/5

Passive Activity Losses A-Z, 8am-4pm

18PALDE

305

405

Bellevue

12/5

Retirement Distributions: Planning Options, 8:30am-4pm

18WBCDE05B

245

375

Your Desk

12/5

Tax Depreciation: Current Developments and Update WEBINAR, 11am-1pm

18WNCDE05D

Your Desk

12/6

2017 A CPA’s Guide to the Purchase and Sale of a Business WEBCAST, 7am-3pm

18WBADE06A

195

245

Your Desk

12/6

Rental Real Estate WEBCAST, 8am-4pm

18WWRREDE

295

395

Your Desk

12/6

Rental Real Estate, 8am-4pm

18RREDE

305

405

Bellevue

12/6-7

Tax Staff Training-Business, 8am-4pm

18TSTBDE

565

665

Bellevue

12/6

Taxation of Property Transactions WEBCAST, 10am-2pm

18WBBDE06A

159

199

Your Desk

12/7

Corporate Income Tax Return Fundamentals WEBCAST, 8:30am-4pm

18WBCDE07A

245

375

Your Desk

12/7-8

Partnership Taxation, 8am-4pm

18PTSDE

565

665

Bellevue

12/7

S Corporation Preparation, Basis Calculations and Distributions: Schedule K and K1 (Form 1120S) Analysis WEBCAST, 8:30am-4pm

18WBCDE07B

245

375

Your Desk

12/7

Tax Depreciation: Current Developments and Update WEBINAR, 11:30am-1:30pm

18WNCDE07B

Your Desk

12/7

Tax Research 1 WEBCAST, 10am-2pm

18WBBDE07A

159

199

Your Desk

12/8

Fundamentals of 1031 Exchanges WEBCAST, 8:30am-4pm

18WBCDE08A

245

375

Your Desk

12/11

Advanced Individual Income Tax Return Issues WEBCAST, 8am-4pm

18WWSTRIDE

310

410

Your Desk

12/11

Advanced Individual Income Tax Return Issues, 8am-4pm

18STRIDE

320

420

Bellevue

12/11

Business Tax Update and Recent Developments WEBINAR, 10:30am-12:30pm

18WNCDE11A

Your Desk

12/11

Estate & Tax Primer WEBCAST, 7:30am-11:30am

18WBBDE11A

159

199

Your Desk

12/11

Federal Tax Update-Individual & Business Current Developments, 8am-4pm

18FTCDDE

305

405

Bellingham

www.wscpa.org

Networking event

WashingtonCPA Fall 2017

EDUCATION AND EVENTS Date

CPE Credits

Course

Code

WSCPA Member Fee

Partnership Investments-How to Calculate the Owner's Basis WEBINAR, 8am-10am

18WNCDE11C

Your Desk

Advanced Tax Strategies for LLCs and Partnerships, 8am-4pm

18DTTDE

305

405

Bellevue

Complete Guide to Payroll Taxes and 1099 Issues WEBCAST, 8am-4pm

18WWCGPTDE

310

410

Your Desk

Type

NonMember Fee

AICPA Member Discount

Location

Taxation 12/11

12/12

Complete Guide to Payroll Taxes and 1099 Issues, 8am-4pm

18CGPTDE

320

420

Bellevue

12/12

Federal Tax Update Individuals (Form 1040), 8am-4pm

18FTUIDE

305

405

Lynnwood

12/12

Federal Tax Update: C & S Corporations, Partnerships & LLCs (Forms 1120, 1120S & 1065) WEBCAST, 8:30am-4pm

18WBCDE12A

245

375

Your Desk

12/12

Year-End Tax Planning: Thinking Outside the Box WEBINAR, 10am-12pm

18WNCDE12C

Your Desk

12/13

2017 Annual Tax Update WEBCAST, 7am-3pm

18WBADE13C

195

245

Your Desk

12/13

Capitalized Costs and Depreciation: Key Issues and Answers WEBCAST, 7am-2pm

18WBBDE13A

159

199

Your Desk

12/13

Federal Tax Update-C & S Corporations, Partnerships & LLCs (Forms 1120, 1120S & 1065), 8am-4pm

18FTUBDE13

305

405

Lynnwood

12/13

Final Repair Regulations: Current Developments and Update WEBINAR, 12pm-2pm

18WNCDE13B

Your Desk

12/13

Hottest Tax Topics for 2017 WEBCAST, 8am-4pm

18WWHOTDE

295

395

-30

Your Desk

12/13

Hottest Tax Topics for 2017, 8am-4pm

18HOTDE

305

405

-30

Bellevue

12/13

Tax Considerations and Consequences for Closely Held Businesses, 8am-4pm

18CHTXDE

305

405

Spokane

12/13

Understanding Your Unclaimed Property Requirements WEBCAST, 9am-10am

18WBADE13A

Your Desk

12/13

Washington Tax and New Developments, 8am-4pm

18WSTXDE

305

405

Bellevue

12/13

1.5

l S

Year End Federal Tax Report, 8am-9:30am

18CHBVDE13

Bellevue

12/14

Advisor’s Workshop: Helping Small-Business Clients Navigate Health Insurance and Fringe Benefits in 2017, 8am-4pm

18OBCRDE

320

420

Bellevue

12/14

Key Tax Strategies for Partnerships and LLCs WEBINAR, 8am-10am

18WNCDE14C

Your Desk

12/14

Partnership and LLC Taxation: Advanced Issues, Including Transfers of Interests and Liquidations WEBCAST, 8:30am-4pm

18WBCDE14A

245

375

Your Desk

12/14

Passive Activity Rules and the Net Investment Income Tax WEBINAR, 2pm-4pm

18WNCDE14D

Your Desk

12/14

Reviewing Pass-Through Tax Returns: What Are You Missing? 8am-4pm

18RPTRDE

305

405

Bellevue

12/14

Washington State Community Property and Estate Tax Law Update, 8am-4pm

18WKCPDE

305

405

Spokane

12/15

2017 LLCs & Partnerships Update WEBCAST, 7am-3pm

18WBADE15A

195

245

Your Desk

12/15

Best Federal Tax Update Course, 8am-4pm

18BFTUDE

320

420

Spokane

12/15

Buying and Selling S Corporations: Tax Planning Opportunities WEBCAST, 8:30am-4pm

18WBCDE15A

245

375

Your Desk

12/15

Construction Contractors: Special Tax and Accounting Considerations WEBCAST, 8:30am-4pm

18WBCDE15B

245

375

Your Desk

12/15

Form 990: Mastering Its Unique Characteristics WEBCAST, 8am-4pm

18WWEOF99D

295

395

-30

Your Desk

12/15

Form 990: Mastering Its Unique Characteristics, 8am-4pm

18EOF99DE

305

405

-30

Bellevue

12/18

Advanced Tax Planning S Corporations WEBCAST, 7:30am-3:30pm

18WBBDE18A

249

319

Your Desk

12/18

Basis Calculations & Distributions for Pass-Through Entity Owners: Schedule K-1 Analysis WEBCAST, 8:30am-4pm

18WBCDE18A

245

375

Your Desk

12/18

Deal Structure for Mergers and Acquisitions WEBCAST, 8:30am-4pm

18WBCDE18B

245

375

Your Desk

12/18

Handbook for Mastering Basis, Distributions, and Loss Limitation Issues for S Corporations, LLCs, and Partnerships, 8am-4pm

18HMBIDE

320

420

Spokane

12/18

Preparing Form 706: The Federal Estate Tax Return WEBCAST, 8:30am-4pm

18WBCDE18C

245

375

Your Desk

12/19

Capital Gains Tax Strategies for Advanced Transactions WEBINAR, 7am-9am

18WNCDE19A

12/19

Form 990: Exploring the Form’s Complex Schedules WEBCAST, 8am-4pm

18WWF990A

295

395

-30

Your Desk

12/19

Form 990: Exploring the Form’s Complex Schedules, 8am-4pm

18F990ADE

305

405

-30

Bellevue

12/19

Getting Ready for Busy Season: A Guide to New Forms, Filing Issues, and Other Critical Developments, 8am-4pm

18NFFIDE

320

420

Bellevue

12/19

Preparing Complex 1040s WEBCAST, 8:30am-4pm

18WBCDE19A

245

375

Your Desk

WashingtonCPA Fall 2017

Your Desk

Networking event

www.wscpa.org

CPE Credits

EDUCATION AND EVENTS

Course

Code

Type

WSCPA Member Fee

NonMember Fee

AICPA Member Discount

Location

Taxation 12/19

Self-Rental Passive Activity: When Does it Exist and How Do You Report It WEBINAR, 10:30am-12:30pm

18WNCDE19D

Your Desk

12/20

Tax Research Skills WEBCAST, 8:30am-4pm

18WBCDE20B

245

375

Your Desk

12/20

Understanding Partnership and LLC Taxation WEBCAST, 8:30am-4pm

18WBCDE20C

245

375

Your Desk

12/20

Year-End Tax Planning: Thinking Outside the Box WEBINAR, 2pm-4pm

18WNCDE20D

Your Desk

12/21

2017 LLCs & Partnerships Update WEBCAST, 7am-3pm

18WBADE21B

195

245

Your Desk

12/21

Federal Tax Update for Individuals WEBCAST, 8:30am-4pm

18WBCDE21A

245

375

Your Desk

12/27

Federal Tax Update: Individuals (Form 1040) WEBCAST, 8:30am-4pm

18WBCDE27B

245

375

Your Desk

12/27

Tax Depreciation: Current Developments and Update WEBINAR, 8am-10am

18WNCDE27B

Your Desk

12/27

Year-End Tax Planning: Thinking Outside the Box WEBINAR, 11am-1pm

18WNCDE27C

Your Desk

12/28

2017 A CPA’s Guide to the Purchase and Sale of a Business WEBCAST, 7am-3pm

18WBADE28B

195

245

Your Desk

12/28

Business Tax Update and Recent Developments WEBINAR, 8am-10am

18WNCDE28A

Your Desk

12/28

Individual Tax Update and Recent Developments WEBINAR, 11am-1pm

18WNCDE28C

Your Desk

12/29

2017 Annual Tax Update WEBCAST, 7am-3pm

18WBADE29A

195

245

Your Desk

12/29

Washington B&O Tax and New Developments 2017 by Mark Hugh WEBCAST, 8am-12pm

18WBADE29C

129

159

Your Desk

12/29

Washington Sales Tax and New Developments 2017 by Mark Hugh WEBCAST, 12pm-4pm

18WBADE29D

129

159

Your Desk

1/3

The Best 2 Hour Tax Update, 12pm-2pm

18CHOLJA03

Olympia

1/4

2017 LLCs & Partnerships Update WEBCAST, 7am-3pm

18WBAJA04A

195

245

Your Desk

1/8

2017 Federal Tax Update WEBCAST, 8am-4pm

18WWGGFTU

300

400

Your Desk

1/8

2017 Federal Tax Update, 8am-4pm

18GGFTUDE

310

410

Bellevue

1/8

Entity Choice-Tax Considerations WEBCAST, 8:30am-4pm

18WBCJA08A

245

375

Your Desk

1/8

Federal Tax Update, 12pm-1pm

18CHTCJA08

Richland

1/8

S Corporation Fundamentals WEBCAST, 7:30am-3:30pm

18WBBJA08A

249

319

Your Desk

1/9

Tax Collection Defense WEBCAST, 8:30am-4pm

18WBCJA09B

245

375

Your Desk

1/9

Washington State Tax Update with Mark Hugh, 8am-10am

18CHEVJA09

Lynnwood

1/10

Fundamentals of 1031 Exchanges WEBCAST, 8:30am-4pm

18WBCJA10B

245

375

Your Desk

1/11

Preparing Individual Tax Returns for New Staff and Para-Professionals WEBCAST, 8am-4pm

18WWPITR

310

410

Your Desk

1/11

Preparing Individual Tax Returns for New Staff and Para-Professionals, 8am-4pm

18PITRJA

320

420

Bellevue

1/11

Tax Planning for Small Businesses WEBCAST, 10am-2pm

18WBBJA11A

159

199

Your Desk

1/11

Travel and Entertainment Expenses: Review and Update WEBINAR, 8am-10am

18WNCJA11A

Your Desk

1/12

2017 Annual Tax Update WEBCAST, 7am-3pm

18WBAJA12A

195

245

Your Desk

1/12

Tax Considerations for Buying and Selling a Business WEBCAST, 8:30am-4pm

18WBCJA12B

245

375

Your Desk

1/12

Tax Forms Boot Camp: LLCs, Partnerships, and S Corporations WEBCAST, 8am-4pm

18WWTFBC

310

410

Your Desk

1/12

Tax Forms Boot Camp: LLCs, Partnerships, and S Corporations, 8am-4pm

18TFBCJA

320

420

Bellevue

1/15

2017 Federal Tax Update WEBCAST, 8am-4pm

18WBAJA15D

300

400

Your Desk

1/15

Business Tax Update and Recent Developments WEBINAR, 10am-12pm

18WNCJA15A

Your Desk

1/15

Individual Tax Update and Recent Developments WEBINAR, 7am-9am

18WNCJA15B

Your Desk

1/15

Understanding Your Unclaimed Property Requirements WEBCAST, 9am-10am

18WBAJA15A

Your Desk

1/16

Preparing Form 1041: Understanding the Basics WEBCAST, 8am-4pm

18WWPF41

300

400

Your Desk

1/16

Preparing Form 1041: Understanding the Basics, 8am-4pm

18PF41JA

310

410

Bellevue

1/17

Form 1041: Down to the Basics WEBCAST, 8:30am-4pm

18WBCJA17A

245

375

Your Desk

1/17

IRS Audits WEBCAST, 10am-2pm

18WBBJA17A

159

199

Your Desk

1/17

Preparing Form 1065: Understanding the Basics WEBCAST, 8am-4pm

18WWPF65

300

400

Your Desk

l S

www.wscpa.org

Networking event

WashingtonCPA Fall 2017

EDUCATION AND EVENTS Date

CPE Credits

Course

Code

WSCPA Member Fee

Preparing Form 1065: Understanding the Basics, 8am-4pm

18PF65JA

310

410

Bellevue

2017 A CPA’s Guide to the Purchase and Sale of a Business WEBCAST, 7am-3pm

18WBAJA18A

195

245

Your Desk

Cutting Edge Tax Strategies: Representing Clients in IRS Audits and Appeals (including the New Partnership Audit Rules), 12:30pm-4pm

18GGRCIRJA

155

205

Bellevue

Cutting Edge Tax Strategies: Representing Clients in IRS Audits and Appeals (including the New Partnership Audit Rules)WEBCAST, 12:30pm-4pm

18WWGGCJA

140

188

Your Desk

Federal Taxation of Legal Marijuana WEBCAST, 8am-11:30am

18WWGGFTJA

155

205

Your Desk

Type

NonMember Fee

AICPA Member Discount

Location

Taxation 1/17

1/18

Federal Taxation of Legal Marijuana, 8am-11:30am

18GGFTLMJA

155

205

Bellevue

1/18

Taxation of Property Transactions WEBCAST, 10am-2pm

18WBBJA18A

159

199

Your Desk

1/22

Corporate Tax Planning: Strategies and Ideas WEBCAST, 8:30am-4pm

18WBCJA22A

245

375

Your Desk

1/22

Federal Tax Update: Individuals (Form 1040) WEBCAST, 8:30am-4pm

18WBCJA22B

245

375

Your Desk

1/22

Form 990: Exploring the Form’s Complex Schedules WEBCAST, 7:30am-3:30pm

18WBBJA22B

249

319

Your Desk

1/22

Intermediate Individual Taxation WEBCAST, 7:30am-3:30pm

18WBBJA22A

249

319

Your Desk

1/22

2017 Tax Advisors Update WEBCAST, 8am-4pm

18WWBTAU

345

445

Your Desk

1/22

2017 Tax Advisors Update, 8am-4pm

18BTAUJA22

355

455

Bellevue

1/23

2017 Tax Advisors Update, 8am-4pm

18BTAUJA23

355

455

Spokane

1/23

Federal Tax Update: C & S Corporations, Partnerships & LLCs (Forms 1120, 1120S & 1065) WEBCAST, 8:30am-4pm

18WBCJA23A

245

375

Your Desk

1/23

Partnership Investments-How to Calculate the Owner's Basis WEBINAR, 8am-10am

18WNCJA23A

Your Desk

1/23

Real Estate Taxation: Cutting-Edge Tax Strategies in the Taxation of Real Estate, 8am-4pm

18GGRETJA

310

410

Bellevue

1/24

2017 A CPA’s Guide to the Purchase and Sale of a Business WEBCAST, 7am-3pm

18WBAJA24A

195

245

Your Desk

1/24

Tax Depreciation: Current Developments and Update WEBINAR, 10:30am-12:30pm

18WNCJA24A

Your Desk

1/24

Tax Research I WEBCAST, 10am-2pm

18WBBJA24A

159

199

Your Desk

1/25

2017 Annual Tax Update WEBCAST, 7am-3pm

18WBAJA25B

195

245

Your Desk

1/25

Partnership Preparation, Basis Calculations and Distributions: Form 1065 Schedule K & K1 Analysis WEBCAST, 8:30am-4pm

18WBCJA25B

245

375

Your Desk

1/25

The Complete Guide to the Preparation of Form 1041, 8am-4pm

18WR1041JA

305

405

Bellevue

1/26

Lunchtime Learning: What's Old, What's New, and What's Still to Come in the Changing World of Federal Income Tax, 12pm-1pm

18LLJA26

Your Desk

1/26

S Corporation Preparation, Basis Calculations and Distributions: Schedule K and K1 (Form 1120S) Analysis WEBCAST, 8:30am-4pm

18WBCJA26A

245

375

Your Desk

1/26

Self-Rental Passive Activity: When Does it Exist and How Do You Report It WEBINAR, 8am-10am

18WNCJA26A

Your Desk

1/26

The Complete Guide to Preparing Forms 706 and 709 WEBCAST, 8am-4pm

18WW706XJ

295

395

Your Desk

1/26

The Complete Guide to Preparing Forms 706 and 709, 8am-4pm

18706XJA

305

405

Bellevue

1/29

2017 Federal Tax Update WEBCAST, 8am-4pm

18WBAJA29A

300

400

Your Desk

1/29

Choice of Entity: Cutting-Edge Tax Strategies in Choice of Entity Decisions WEBCAST, 8:30am-4pm

18WBCJA29B

245

375

Your Desk

1/29

Tax Fundamentals of LLCs and Partnerships WEBCAST, 7:30am-3:30pm

18WBBJA29A

249

319

Your Desk

1/30

Dealing with IRS Appeals WEBCAST, 8:30am-4pm

18WBCJA30A

245

375

Your Desk

1/30

Special Topics in Partnership and LLC Taxation WEBCAST, 8:30am-4pm

18WBCJA30B

245

375

Your Desk

1/31

Preparing Complex 1040s WEBCAST, 8:30am-4pm

18WBCJA31A

245

375

Your Desk

Technology 10/27

Excel-Advanced Financial and Statistical Calculations WEBINAR, 11am-1pm

18WNCOC27B

Your Desk

11/1

Big Data and Data Analytics-What They're All About WEBINAR, 10am-12pm

18WNCNV01A

Your Desk

11/6

Excel Tips, Tricks and Techniques for Accountants, 8am-4pm

18EXLNV

305

405

Spokane

11/7

Excel Pivot Tables for Accountants, 8am-4pm

18EXPTNV

305

405

Spokane

11/8

Excel-Advanced Financial and Statistical Calculations WEBINAR, 7am-9am

18WNCNV08B

Your Desk

WashingtonCPA Fall 2017

Networking event

www.wscpa.org

CPE Credits

EDUCATION AND EVENTS

Course

Code

Type

WSCPA Member Fee

NonMember Fee

AICPA Member Discount

Location

Technology 11/8

QuickBooks for Accountants WEBCAST, 8:30am-4pm

18WBCNV08B

245

375

Your Desk

11/13

Introduction to Data Analytics and Microsoft PowerBI Tools WEBINAR, 12pm-2pm

18WNCNV13C

Your Desk

11/17

Excel-Auditing Your Spreadsheets for Maximum Accuracy WEBINAR, 10am-12pm

18WNCNV17B

Your Desk

12/7

QuickBooks – Best Practices for Accountants WEBINAR, 2pm-4pm

18WNCDE07A

Your Desk

12/8

The Digital Office-The CPA Technology Toolkit WEBINAR, 1pm-3pm

18WNCDE08C

Your Desk

12/1112

Information Technology Conference 2017, 8am-4pm

18ITC

625

725

Bellevue

12/12

Office 365 Ecosystem-How to Start Using Your Subscription WEBINAR, 12:30pm-2:30pm

18WNCDE12A

Your Desk

12/14

Cloud Accounting Series-Beyond the Basic Bookkeeping Apps WEBINAR, 12pm-2pm

18WNCDE14A

Your Desk

12/15

Enjoy Technology's Benefits Without Dehumanizing the Office WEBINAR, 9am-11am

18WNCDE15A

Your Desk

12/15

Microsoft PowerBI-Introduction to Data Analysis in Excel WEBINAR, 8:30am-10:30am

18WNCDE15C

Your Desk

12/18

Microsoft PowerBI-Get Started with the Right Data WEBINAR, 10:30am-12:30pm

18WNCDE18D

Your Desk

1/3

Excel-Create KPI Dashboards for Maximum Impact WEBINAR, 10am-12pm

18WNCJA03A

Your Desk

1/8

Cybersecurity Advisory Engagements Essentials WEBCAST, 7:30am-3:30pm

18WBBJA08B

249

319

Your Desk

1/8

Microsoft PowerBI-Get Started with the Right Data WEBINAR, 9am-11am

18WNCJA08B

Your Desk

1/8

Microsoft PowerBI-Introduction to Data Analysis in Excel WEBINAR, 12pm-2pm

18WNCJA08A

Your Desk

1/12

Lunchtime Learning:You’ve Been Hacked… Now What?? 12pm-1pm

18LLJA12

Your Desk

1/17

Microsoft PowerBI-Improve Data Analysis with DAX Measures WEBINAR, 7am-9am

18WNCJA17A

Your Desk

1/25

Blockchain Technology-What Every CPA Should Know WEBINAR, 12pm-2pm

18WNCJA25A

Your Desk

L 

OFFICE CLOSURES

The WSCPA office will be closed on the following days: Thursday, Nov. 23 (Thanksgiving), Friday, Nov. 24, Monday, Dec. 25 (Christmas Day), Tuesday, Dec. 26, & Monday, Jan. 1 (New Year's Day)

STATEMENT OF OWNERSHIP, MANAGEMENT, AND CIRCULATION (REQUIRED BY 39 U.S.C. 3685) 1. Publication Title: The Washington CPA 2. Publication No.: 0000-9754 3. Filing Date: 28 September 2017 4. Issue Frequency: Quarterly 5. No. of Issues Published Annually: 4 6. Annual Subscription Price: $12 7. Complete Mailing Address of Known Office of Publication: 902 140th Avenue NE, Bellevue, Washington 98005-3480 8. Complete Mailing Address of Headquarters or General Business Office of Publisher: Same as #7 9. Full Names and Complete Mailing Addresses of Publisher, Editor, and Managing Editor: Publisher:Washington Society of Certified Public Accountants, Editor: Jeanette Kebede, Managing Editor: n/a,Washington Society of Certified Public Accountants, 902 140th Avenue NE, Bellevue,WA 98005-3480 10. Owner:Washington Society of Certified Public Accountants, 902 140th Avenue NE, Bellevue,WA 98005-3480 11. Known Bondholders, Mortgagees, and Other Security Holders Owning or Holding 1 Percent or More of Total Amount of Bonds, Mortgages, or Other Securities: None 13. Publication Name:The Washington CPA 14. Issue Date for Circulation Data Below: Summer 2017 15. Extent and Nature of Circulation (Avg. No. Copies Each Issue During Preceding 12 Months, Actual No. Copies of Single Issue Published Nearest to Filing Date). a.Total No. Copies (Net press run): 7,469, 6,625 b. Paid Circulation (By Mail and Outside the Mail): (1) Mailed Outside-County Paid Subscriptions Stated on PS Form 3541: 3,711, 3,434. (2) Mailed In-County Subscriptions Stated on PS Form 3541: 3,388, 3,041. (3) Paid Distribution Outside the Mail Including Sales through Dealers and Carriers, Street Vendors, Counter Sales, and Other Paid Distribution Outside USPS: n/a, n/a. (4) Paid Distribution by Other Classes of Mail Through the USPS (e.g., First-Class Mail®): n/a, n/a c. Total Paid Distribution [Sum of 15b (1), (2), (3) and (4)]: 7,099, 6,475. d. Free or Nominal Rate Distribution (By Mail and Outside the Mail): (1) Free or Nominal Rate Outside-County Copies included on PS Form 3541: 32, 24 (2) Free or Nominal Rate In-County Copies included on PS Form 3541: 28, 19. (3) Free or Nominal Rate Copies Mailed at Other Classes Mailed Through the USPS: 0, 0. (4) Free or Nominal Rate Distribution Outside the Mail: 21, 14. e. Total Free or Nominal Rate Distribution (Sum of 15c and 15e): 81, 57. f.Total Distribution (Sum of 15f and g): 7,180, 6,532. g. Copies not Distributed: 289, 93. h.Total (Sum of 15f and g): 7,469, 6,625. i. Percent Paid: 98.87%, 99.12%. 18. Signature and Title of Editor, Publisher, Business Manager, or Owner: Jeanette Kebede, Editor, Date 9/28/17

www.wscpa.org

Networking event

WashingtonCPA Fall 2017

Help give away over $350,000 in accounting scholarships. Become a scholarship reviewer! Do you want to help give away $350,000 in scholarships? Are you interested in helping students achieve their dream of becoming a CPA? If so, please consider volunteering your time and talent to be part of the review team for the 2018 Accounting Scholarships offered by the Washington CPA Foundation and the Washington Society of CPAs. Scholarship Review Timeline and Process Feb. Feb. Feb. Mar.

8 Reviewer sign-up deadline 13 Reviewer training (remote) 20 Review process begins 30 In-person review session at WSCPA, Bellevue

• Review applications in your home or office using a secure, online portal • Score applications using a scoring matrix and following guidelines provided • Each reviewer will consider 25-30 applications and submit review online during a two-week period • All reviewers will review top applications before attending in-person review session in late March

Important Scholarship Dates

Feb. 14 Apr. 3 May 18

Scholarship application deadline Learn more at www.wscpa.org/scholarships Scholarship winners notified Reception honoring scholarship recipients (Reviewers are invited to attend!)

WashingtonCPA Fall 2017

www.wscpa.org

CLASSIFIED ADS

Detailed advertising information is available online at www.wscpa.org under More. Ads are placed in the next magazine when received by the deadline, December 1 for the winter 2018 issue. Contact Janet White at (425) 586-1126, or memberservices@wscpa.org for more information. MERGERS & SALES CPA Firm for Sale A niche CPA firm in south King County with well-established clientele is for sale. Revenues are in the $360K range and split with approximately 40% tax and the remainder in accounting, write up work, payroll service, and audit representation. This could be a perfect operation to add onto an existing location that could easily be run by a firm’s up and coming employee or for someone wanting to own their own business.The tax returns are mostly fairly straight forward individual returns with approximately 45 partnerships and corporations. Owner is looking to retire but is available to work part time with the new owner in order to make for an easy transition. Excellent staff of 4 makes for a very enjoyable work environment. E-mail firm2buy@gmail.com

is the Pacific Northwest’s oldest business brokerage (M&A) firm. We are professional negotiators with over 4000 completed transactions. Please contact us if we can be of assistance at (800) 218-4422 or www.ibainc.com OFFICE SPACE Office Space – Northgate 450 sf in updated professional center, built with two offices and reception area. Full-length windows. $825/mo NNN. Next to Northgate Mall & Transit Center, easy access to I-5. Convenient parking, street signage on 5th Ave, ideal for main office or sub-office. Move-in incentive. Call 206-660-4965 for showing.

Considering SellingYour Practice? Consider all your options.We do the work.Confidential.We have buyers actively seeking practices. Call Mark Hause at (877) 345-7722 or visit our website at www. accountingpracticesales.com Accounting Practice Sales.We make dreams happen!

CPA Professional Office Space for Rent Are you a solo CPA looking for a professional office space...in the "right place?"Are you looking to develop a synergetic referral relationship as your key growth strategy? Then we may have what you are looking for! Snider Financial Group has office space available for a CPA who is wanting to grow their practice through a strategic referral relationship.We have a growing need for a competent tax accountant to work collaboratively with serving clients. Our hope would be to develop a long-term,mutually beneficial referral and working relationship.Vitals:$500/ month (internet & phone are available for an additional cost) Located on Bel-Red. Please contact our Practice Manager, Heather@sniderfinancialgroup.com, to schedule an initial discussion.

IBA Sells Privately Held Companies. Do you represent a client who is ready to retire, or has taken a company as far as they want to or can? IBA

Building / Office Condominiums for sale Owner/user office building in North Seattle built in 1992. It has been a Law Office for 25 years.

Contact Mark Hause atAccounting Practice Sales by e-mail at MARKHAUSE@CONTACTAPS.COM or call (877) 345-7722 for more information on the following practices: (WA 1116) North Snohomish County: This CPA firm renders the normal suite of professional services that includes income tax,write up,& audit/ reviews. The one additional element in this firm's mix of services is financial services. The presence of these revenues provides for a balanced revenue cycle year after year. In addition, the firm has an excellent staff that allows the owner to be out of the office approx. 2 weeks per month except during the busy time of tax season. To offer flexibility for interested buyers,the firm will include the financial services as part of the sale or not. The asking price of the financial services practice is not included in the information provided to buyers and will be separately negotiated. To further assist buyers, the Seller will provide financing alternatives for qualified buyers. This practice is an excellent choice for an individual or a firm looking for a quality addition to their practice. (WA 1117A) Bothell,Kenmore,Woodinville Area: This CPA practice is well established and shares an office space with a long term CPA friend and colleague.The practice revenue is entirely from the preparation of income tax returns. The firm has many long time clients who form the backbone of a solid practice. The practice by sharing office expenses has an overhead cost structure that

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PRACTICES FOR SALE

Just minutes to Northgate.The property features a 7,912 square feet of gross building area, consisting of 2,704 square feet of covered, secured parking plus lobby area located on the first floor. The office condominiums are 2,604 square feet each. Each unit has 5 private offices, a conference room and a reception area. Upper Floors are elevator and stairwell accessible, and each have men’s and women’s bathrooms. Unit 200 has two long term tenants with space for more.The parking garage is totally enclosed with parking for 6 cars and there is onsite uncovered parking for seven additional cars. Property has been law offices for past 25 years.The site is commercially zoned C1-30.Parcel size is 9,373 square feet. Convenient access to I - 5 and Highway 522. Great signage opportunities. 206-295-5208. VOLUNTEER OPPORTUNITIES The following organizations need a CPA to serve on the board of directors and/or provide other guidance on financial matters. Learn more about these, and other organizations that need your help, under Volunteer opportunities for CPAs, at www.wscpa.org/more/marketing-to-cpas. All New: Northwest Dance Network One Equal Heart Foundation Purrfect Pals Seattle Peace Chorus Shunpike SOLA

with expansion plans or establishing your own firm with two strokes of the pen.

provides an excellent cash flow to the owner. The two firms that share expenses and office space are both seeking to sell and move to retirement. These practice(s) whether one or both are an excellent opportunity to acquire two quality turnkey firm(s) and quickly move forward with expansion plans or establish a solo practice with two strokes of the pen.

(WA 1118) Central Puget Sound Near Seattle: This CPA practice with a well-balanced revenue stream is for sale. The firm revenue dollars can be accounted for as follows: 50% tax, 42% write up, 8% audits, reviews & compilations. The per return averages are excellent and rival big city firms in average fees. The staff of the firm is a real strength with a host of professionals that assist the owner in rendering high level professional services. This practice is as turnkey as you will find with long term clients who always return each year. The Seller will consider any number of different alternatives from qualified buyers to assist in the purchase of this practice.

(WA 1117B) Bothell, Kenmore, Woodinville Area:This CPA practice is well established and shares office space with a long time CPA friend and colleague. The practice revenues are 90% from the preparation of income tax returns. The balance of the fees are write up work that is focused on payroll services on a quarterly and annual basis. The firm has many long term relationships with clients who consistently return annually. The practice by sharing expenses has an overhead cost structure that provides an excellent cash flow to the owner. The two firm(s) that share expenses and office space are both seeking to sell and move to retirement. These practice(s) whether one or both are an excellent opportunity to acquire two quality turnkey practice(s) and quickly move forward

(WA 1119) Vancouver: This tax centered CPA practice is for sale. The firm is an unusual combination of big firm fee averages and small firm profit margins equaling 80% all combined into one excellent practice. The practice revenue mix is 93% tax, 5% reviews, and 2% consulting.The firm's real specialty is customer service with an extremely loyal client base who return year after year. This practice with billing rates that equal on average $210 per hour also has well above average realization rates. The final element of this practice is the presence of the opportunity to add additional value added services. All of these qualities mean this practice works for any number of buyers whether big or small.

WashingtonCPA Fall 2017

CLASSIFIED ADS

(WA 1115) South Hills/Puyallup Area: This well-established EA firm with a solid client base is for sale. The firm is composed of a broad range of clients that includes individuals and small business who seek tax preparation, write up, and consulting services. The firm stresses ongoing communication throughout the year to promote client loyalty along with avoiding year-end tax issues that can be difficult to manage after the conclusion of the tax year. The firm has an excellent fee structure with excellent per client fee amounts. This professional opportunity provides the type of challenge many relish with a solid client base providing continued prosperity for any business minded accountant. (WA 1114) Sequim/Port Angeles Area: The Seller of this practice is, semi-retiring and seeking to retain certain business tax return clients along with the associated personal income tax returns. The sale only includes client files, supporting information stored in an electronic file cabinet, and the primary telephone number(s) of the selling practice. The clients being sold average approx. $346 per return with a high percentage of individual income tax returns. Currently, these clients are part of a practice that generates an excellent net cash flow demonstrating realization rates that are well above the norm. This practice fits a buyer looking to start a practice, an existing owner looking to finish a practice or a professional needing work to keep a staff busy. What's more, the practice is available for immediate possession to begin the transition of clients. (WA 1113) East King County-Snoqualmie Valley Area: This CPA practice is write up based with great opportunity for growth in providing professional services in the traditional area of tax preparation and consulting.The firm revenue stream is 12% tax and 88% write up. With the write up side covered by long-term employees who have and maintain excellent relationships with the clients,

WashingtonCPA Fall 2017

PRACTICES FOR SALE

the transition to the new owner will be easy. The growth potential of this practice lies in growing the tax practice with the write up business in place for year round revenues.Any business minded accountant looking to get into ownership or an expansion minded firm has a ready-made opportunity. (WA 1112) Renton:This well-established Enrolled Agent practice is for sale.The firm is a tax practice with only a minimal amount ($2,000) of write up services. The client base is centered on individual returns, but does include many business returns as well.The fee structure is excellent reflecting a client base with income levels who require qualified professional services to solve their tax problems.This profitable practice, (77% Net Cash Flow) and available for immediate possession, is an ideal opportunity for an experienced tax professional who seeks a challenge and the commensurate financial reward. (WA 1109)Vancouver:This long-term CPA practice is for sale.The firm provides quality tax services to a loyal client base of individuals and business entities. The firm's service mix is write-up and income tax.The foundation of the firm has always been a proactive approach to client service.The ongoing communication whether a phone call or email prevents the end of year surprises.This practice is a solid addition to an existing form or the startup of a new practice. (WA 1108) Centralia/Chehalis Area: This well balance CPA firm that has been providing professional services for a number of years is for sale.The

practice has excellent balance with the workload split between income and write-up services and revenues occurring throughout the year and not just tax season.The firm enjoys an excellent reputation in the community and receives referrals from other professional service groups in the community. The practice's qualities combined with an excellent staff that offers support and continuity for the new owner in transitioning the clients.To assist buyers, the Seller will consider financing the sale of the practice with Buyers who have excellent credit, collateral and a substantial down payment. (WA 1107) Bothell, Mill Creek,Woodinville CPA Practice for Sale:This well-established CPA practice is for sale. The firm is known for personal service and is a recommended preparer to many of the nearby employers. The firm is a tax practice with 75% of revenues coming from the annual preparation of income tax returns. The balance is composed of write-up 22% and consulting 3%. The firm has another significant attribute which is an excellent staff that provides not only quality professional services but support for the owner and clients of the firm. This practice with excellent fees and stable loyal clients is a solid opportunity for a variety of buyers. (WA 1105) North Olympic Peninsula CPA Practice for Sale: This CPA practice consists of clients that return year after year. The firm is centered around the revenue streams of income tax 62% and write-up 37% with a small amount of reviewed financial statements. The owner(s) have a long term staff that assists in the rendering of these professional services. The practice has an excellent cash flow, easily above the norm, reflecting an excellent realization rate on the fees earned. All of these factors demonstrate the opportunity this firm provides to any accountant seeking to be on their own and rewarded for their efforts in a varied client base.

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MEMBER PROFILE

Member Profile: April Henderson, CPA By Cory Wilmarth

pril Henderson, CPA, is part-time Controller at the Seattle Aquarium. A long-time non-profit supporter and a boating enthusiast, working for the Aquarium combines April’s love of the water and her desire to spend her time making positive contributions to the lives of others. “It’s satisfying to work with so many organizations that are doing good in the world,” April said. April first came to Washington in 2002, studying for her CPA exam while her husband David was teaching at the UW. They had both moved several times in the past but, after falling in love with Seattle’s activity and natural beauty, they moved from Tucson to Ballard in 2005. Growing up on a farm in Kentucky, April learned her work ethic from her parents, raising crops and a variety of animals. “To this day, they are still the hardest working people I know!” said April. April finished school in Brookings, South Dakota, where she also first met David. April discovered accounting when her father became a CFO, having earned his MBA. “He would let me come into his office to do odd jobs and earn a little money. He’d let me run tapes on the checks that had to be deposited. I felt so grown up with a big stack of checks on a desk in front of me!” She started college in pre-med at Radford University in Virginia, but found accounting fit her much better. April knows several auditors who began in premed and attributes this to a love of puzzles and problem-solving. April was also president of the accounting club before graduating in 2001. After graduating, April found work as a public accountant with Short, Harris, & Co. She decided to earn her CPA to expand her career options. April is confident that she made the right decision. When she moved to Seattle, April was hired by Clark Nuber. Through their firm, April has worked with several not-profits www.wscpa.org

and enjoyed seeing behind the scenes at these organizations. She also is proud to have served as board member and Treasurer for the Washington Poison Center. April also serves as co-chair of the WSCPA’sxNot-For-ProfitxConference Committee, giving back to the organization. “I’m impressed by how smoothly the planning process goes. My involvement has been a real treat!” said April. She will complete her tenure as co-chair at the end of 2017. After starting her family in 2013, April looked to find more balance between work and time spent at home. She did not want to leave accounting, which fulfilled and challenged her and promised more opportunity for growth. She had also poured a lot of time and energy into becoming a shareholder. When she learned that the Seattle Aquarium, a well-run non-profit, was looking for a part-time Controller, she made the leap from public accounting to this new role in November 2013. This gave April more family time and the ability to keep taking on new challenges. Recently, April was offered the job of Director of Finance. Not ready for a permanent position, April became temporary Interim Director of Finance until the position was filled in June. Like her previous positions, she enjoyed the time spent working behind the scenes with the Executive Team. April’s family now lives in Lake Forest Park and enjoys the peace and quiet of living near Lake Washington. Her daughter Abby Rose just started first grade. In their spare time, they love going boating, a hobby they picked up after moving. “When we left Seattle for Tucson, we really missed the water!” Currently, April looks forward to the expansion of the Aquarium. The management hopes to make it the “jewel of the waterfront.” With its record attendance, they hope to accommodate more guests

“I can't imagine working outside the non-profit community! I have always wanted to put my skills and talents to use in a way that betters the world.” with more programming and interactions with marine life. Most of all, April is grateful to work at a place where people come to spend time with their loved ones.The Aquarium gets a variety of guests, including tourists, schools, and families with children, but they all come expecting to have a good day. April is thrilled to be a part of that positive energy. “Time is love,” said April.“It’s the most precious commodity many of us have. How we choose it spend it should reflect who and what we really love!”

Cory Wilmarth is the Communication, Design, and Social Media Coordinator for the WSCPA. WashingtonCPA Fall 2017

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