The application period for the 2017-18 CalCPA Board and Council, AICPA Council and CalCPA Education Foundation trustee and officer positions is open. For information and to apply, please visit one of the all-new online application links below:
There is a booming trade in selling citizenship and permanent resident status as a path to citizenship. People think that only small countries do this. While small countries do sell passports (St. Kitts is a prominent example), large countries do this as well. Even the United States, under the guise of the EB-5 “buy a green card” program, provides a path to American citizenship for the well-to-do.
Gov. Brown has signed SB 1234 into law, which will create new retirement savings accounts for California employees who do not have one through their employment.
SB 1234, authored by Senate leader Kevin de Leon, will require automatic enrollment into a new state-run retirement program by requiring employers with at least five employees to enroll their workers in the new California Secure Choice Retirements Savings program if they do not already provide their own retirement program to employees.
As the new program begins, many small-business clients will be looking to their CPA for assistance in making sure they meet the requirements as employers, particularly if they have any employees electing to participate in the new Secure Choice Program. Look out for more information on this new program in the Capitol Beat column in the November issue of California CPA.
It's not the just numbers that add up in the movie "The Accountant." Body counts do so, as well.
If you haven't heard, the film stars Ben Affleck in the title role and, as the movie's poster would suggest, his CPA career path is not a typical one. Affleck's character, Christian Wolff, is a clean-cut, pocket-protector wearing CPA who runs a nondescript CPA firm in a small town—who also happens to be trained in a specialized form of martial arts, is handy with high-powered weaponry and does most of his accounting work for dangerous criminal organizations.
CalCPA Council annually nominates candidates to stand for election to serve three-year terms as trustees of CalCPA’s Group Insurance Trust (GIT). Additionally, participating GIT employers may nominate qualified candidates to be placed on the ballot by submitting supporting petitions from at least 20 firms participating in one or more of the GIT's group health and welfare plans by Nov. 1.
Topics: CalCPA Buzz
With the fall harvest season fast approaching, the CalCPA Education Foundation is pleased to host the 2016 Farmers Tax and Accounting Conference on September 21st at the DoubleTree by Hilton Fresno Convention Center, just across the street from the Fresno Convention and Entertainment Center (and also online via webcast.) That’s just one day before the official start of fall on the autumnal equinox, the day the Sun crosses the celestial equator, the imaginary line in the sky above the Earth’s equator, from north to south—just one of two days each year that the plane of the Earth’s equator passes through the center of the Sun, or in more scientific parlance, when the solar terminator (the “edge” between night and day) is perpendicular to the equator, and both the northern and southern hemispheres are equally illuminated.
In the spirit of the equinox’s evenly balanced global illumination, CalCPA Education Foundation is bringing together a bumper crop of expert speakers and panelists to address this year’s most important regulatory, financial, economic, valuation and real estate issues facing your clients in farming and to present insights and advice to help you stay ahead of trends and changes in the agricultural industry. The Farmers Tax and Accounting Conference is designed for CPAs, CMAs and other financial professionals and attorneys working directly in farming and agribusiness. California is the leading producer of fruits, vegetables, wine and nuts in the United States, and dairy products contribute the largest single share of farm income in the state—as a consequence, your knowledge and experience serving the agricultural community can make a big difference in the business affairs of farmers. Among this year’s conference’s expert speakers is veteran speaker and long-time agricultural banking professional, Curt Covington, who will be presenting at 12:50 PM on the topic of “Tales from a Gray-Haired Ag Banker.”
Curt is Farmer Mac's senior vice president of agricultural finance, where he’s responsible for the company’s expansive Ag real estate portfolio, as well as its credit administration and underwriting functions. Curt’s passion for rural America developed at a young age on his family’s grape and tree nut farm, and developed into a career helping farmers and families like his own. Over the past three decades, Curt has established himself as a prominent figure in American Ag lending, and most recently served as the Managing Director of the Ag and Rural Banking Division at Bank of the West. He has also held various management roles within the Farm Credit System and at Rabobank. Curt is respected throughout the agricultural lending industry for his leadership and mentorship.
This year’s Farmers Tax and Accounting Conference will take place in Fresno, at the heart of California’s farmland. There’s still time to sign up for this event on September 21, or you can watch the live webcast from wherever you are. Join hundreds in the agricultural industry to get up-to-date information on the hottest topics currently affecting our field.
For a sneak peek of what’s to come in less than a week …
1) The Most Recent Update on Cash Method of Accounting and ValuationReturning speaker Craig Houghton will discuss the status of ongoing legislation he has been involved in regarding cash methods of accounting and valuation, and share his perspectives of what’s on the horizon.
2) Get the Newest Developments on Income Tax Issues Specific to AgricultureSelf-employment tax has been a particular point of interest, and moderator and participant David Pardes will lead discussions on how to save on self-employment tax, as well as touch on international tax issues, which have recently become a bigger aspect for many Ag taxpayers.
3) Practical Information on How an IC DISC Might Benefit Your BusinessWhile this topic has been explored at past FTAC conferences, this year panelists will be taking a more applied approach to determining the benefits of an IC DISC for individual businesses. The takeaways from this talk should provide attendees with actionable information for taxes and future filing processes.
4) The Latest Advice on Economic Trends You Didn’t Know to Ask AboutCurt Covington has been sharing his insights on economic trends and shifts in agricultural banking practices at our conference for the past 10 years. Always entertaining and informative, his talk is a way understand the current economic climate and to better anticipate what is ahead for Ag.
5) A Banker’s Perspective on What They Really Want In Your Financial StatementsThe first panel of its kind at this conference, five different experts in agricultural financing will host a discussion that explores what should really be showing up in your financial statements--and what they don’t want to see. They will be addressing the challenges of analytical analysis of Ag financial statements, and demystifying the details in an applicable way.
6) Up-To-Date Insights on the Ongoing Labor Law IssuesLabor laws are a huge issue right now, and have been for a while. This talk will feature experts who examine the pros and cons of labor contractors versus in-house labor, how to navigate California versus Federal Law, and provide the latest updates on labor laws as they pertain to agriculture.
7) New Information on How California Water Legislation Will Impact Land ValuesWater issues have been of primary importance ever since the beginning of California’s drought, with resulting water restrictions leading to land values shooting sky high. Stanley Xavier will give updates on how the newest water legislation and the ability to access groundwater will impact land values.
In collaboration with the Center for Corporate Reporting and Governance at California State University, Fullerton, the CalCPA Education Foundation will be webcasting the 15th Annual SEC “Hot Topics” Conference on September 16, 2016. Featuring comprehensive updates and standard setting speakers from the SEC, FASB, and PCAOB, this event will explore many of the “hot topics” that are affecting financial reporting at various corporations. Attend the event at the Irvine Marriott Hotel or take the opportunity to stream the broadcast live from the comfort of your own home or office.
Panel discussions on key legal and governance issues will be led by lawyers, board members, and auditors seeking to keep decision makers appraised of the most recent changes that will impact their businesses.
Beginning July 1, 2014, California CPAs who are retired from the profession and no longer actively practicing public accountancy may apply to have their California CPA license placed in a retired status with the California Board of Accountancy.