2013-01 Newsletter
 
WAA Newsletter January 2013
In This Issue

From the President
Education Offerings
Leadership Opportunity
NSA Update from State Director
Year-End Tax Planning Help from ADP
Chapter News

Education

Below is the list of programming.  Click on the event link for details on registration pricing as well as the link to the online registration form.
  • Federal Tax Update
    Presented by Gear up, Speaker – John Stevko January 11, 2013 at Holiday Inn in Renton, WA
Around the State

Chapter Events

We have four active chapters around the state.  These chapter officers have been diligently working to bring relevant education to the chapter members and with creating a quality collaborative peer meeting environment. 
 
Go to www.waa.org/chapters to find out what is happening in your chapter.

Our Leadership

Board of Directors

Chapters

Committees

Chapter Listservs

All WAA members have been subscribed to their chapter listserv based on the chapter listed in their profile.  Download these listserv instructions to learn how to subscribe if you do not currently have a chapter affiliation listed on your profile, to unsubscribe, or to change the email address you want subscribed to the listserv.

In Memorandum

If you are aware of a WAA member who has passed on please contact editorial@waa.org.

Advertising

This newsletter is distributed to over 300 accountants in Washington State.

New rates coming soon!

To advertise, please email the WAA office at office@waa.org.

Editorial Content

The principal aims of this publication are the advancement of the accounting profession and communication among our members. Opinions expressed herein are those of the individual writers and not necessarily those of WAA or the Editor. Please submit articles and comments to editorial@waa.org.

The deadline for submissions is the 20th of the month preceding publication.

 

The IRS provides a very informative annual calendar.

Small business owners find this a valuable resource throughout the year.  Supplies are limited and the calendar is free.

If you would like to learn more about the IRS calendar please contact Rizwan Chaudhry at rizwan@nwaccountants.com

 

The mission of the Washington Association of Accountants is to promote and protect the right of every member to practice accounting and taxation; to provide the services and professional education necessary to maintain and improve professional competence.

From the President

by Jerry Gintz

"Fiscal Cliff" What does that mean?!


Sitting here on December 26th, still not knowing what 2013 may hold for us (tax planning-wise), is frustrating, to say the least.  Especially, as I write this article in an attempt to address the New Year, with some level of encouragement, challenge and best wishes to all.   Where do I go with it?  I may wake up tomorrow learning of the new deal made overnight, with this little article having already been queued up for publishing.  I am fairly confident of some kind of change to the 2013 tax year, if not any to 2012 (anticipating a patch to AMT and the continuance of a couple other expired credits/deductions).   It is just simply going to be an enormous amount of changes coming at us in 2013/2014.   Keeping up will be grueling, yet absolutely essential.  

The one thing I want to stress here is that we all get a year-end update (this January) scheduled, in order to assure ourselves of being aware of any and all last minute changes, as well as highlights to the 2013/2014 healthcare rules that will be folding in going forward.  Whether it’s an on-line update or a local live event, I strongly encourage you to fit one in.   

Of course WAA has a one-day event in Renton, on January 11th.   John Stevko, of Gear Up, will be leading that event and will cover individual and business entity changes, both current and scheduled.  We should know by then if they are many or few.  He will come with the latest changes known, for both 2012 and 2013.   Once again, 2013 is THE year to commit to multiple streams of CE.  Just like multiple streams of income is a good idea, so is multiple streams of CE!

WAA will continue to bring you CE that is vital and valuable to you and your staff.   Keep us close by, so when you need a course, you have an access point that assures you a discounted price.  

Also, keep a lookout for our soon-to-be-launched Jobs Board, for both positions being sought and positions available.   Look for it towards the middle of January!

Much success!

Education


by Cynthia Polley - Education Committee


We only have one Seminar left before tax season is underway!
Register today at www.waa.org.

GEAR UP FEDERAL TAX UPDATE
CPE Credits: 8-Hour CPE
Date: January 11, 2013
Location: TBA

This course offers practical insight into the ever-changing world of federal taxation. Federal Tax Update is a one-day, fast-paced seminar that covers the latest developments affecting individuals, corporations, pass-through entities, and estates and trusts.

Written and taught by practitioners for practitioners, it is designed to provide you with practical, working knowledge of the latest tax law changes. This highly popular seminar will enable you to effectively, and confidently complete tax planning, compliance, and consultation engagements during the coming year.



Other Education Opportunities:

FAST FORWARD ACADEMY
Fast Forward Academy is our newest online education product. Whether you need to study for the RTRP, the EA or the CPA exam, this online study course will provide you with the knowledge and experience with the simulated online exam that will help you pass the exam the first time. You will find the Fast Forward Academy courses at our online education section of the website. Register today at www.waa.org



by Charles Grass, Vice President


Leadership - an Exceptional Opportunity:

One of the very best, yet least understood opportunities WAA has to offer their members is its leadership development track. This is one of the finest and most user friendly leadership tracks one could engage in. Many of us accountants (owners of small firms) don’t have the opportunity, or take advantage of the opportunity, to grow in areas where we are actually well equipped to play roles and should play roles.  WAA’s leadership track is just that opportunity.  Especially for the younger accountant (Generation X / Generation Y), this is an outstanding entry point into making a difference and honing leadership skills; all the way from running a meeting to becoming a leader who can inspire.      

WAA has an annual, invitation only, Leadership Conference every spring.  This highly acclaimed conference occurs this year on May 17th & 18th, starting with an informal meet and greet the evening before (May 16th) and is followed immediately by Committee Daze (an opportunity to apply what you have learned) on Friday, May 17th & Saturday, May 18th.  The location this year is the Renton Holiday Inn.  Historically, Leadership has covered topics including History of WAA, Chapter Management, Long Range Plan, Education Update, a spirited contest (based on what you have learned), as well as technology updates regarding our website.

This year, in keeping with the Board and President Gintz’s initiative to increase the relevance of WAA, not only to the Boomer generation, but particularly with the GenX and GenY groups, the topics are targeted toward running an effective and efficient meeting (one that brings value to attendees), the future of WAA and chapter management.  

Chapter leadership position terms are for one year.  The chapter leadership team plans and arranges chapter meetings, meeting speakers, and other chapter events.  Being part of this team gives you direct say in speakers and topics for meetings and annual mini seminars.

State Board positions are two year terms.  With professional association management in place, the board has the opportunity to spend time developing vision and strategy for WAA.  This is important work and is made efficient through technology and solid management (we conduct most board meetings via WebEx – very efficient!)  The state board sets policy and direction for the organization and guidance for the management firm.  

If you are not tapped on the shoulder, for leadership participation, by someone who thinks you are a strong candidate, don’t wait for that to happen – express your interest to any current leader and they will make sure you are invited to this exceptional career enhancing event.

NSA Update from The State Director


by Astrid Arola

I hope all of you had a safe and wonderful New Year.  It was fun for Larry Walkden, Melanie Levno and me to see so many of you at the seminars.  Thanks for coming by to say Hi.

During this tax season, don’t forget to utilize one of the best benefits NSA has to offer  - Tax Talk. With so much uncertainty, you are bound to get questions that you can’t answer or need clarification and would like to ask someone.  Put it on Tax Talk. There are over 10,000 members that can help answer your questions.  
 
How to post a question:

Once you have logged in to NSA  – In the “Members Only” section – you can click on or just hover over the Benefits tab, then Tax Resources, and then Tax Talk, click on Post New Message, type your question, and click send.

 If you are interested in answering a question, just click on the subject and you can either Reply to Discussion or Reply to Sender.  

Since the process of posting a question is so easy, try posting a question before you get too busy (I’m sure you have at least one!).

While you’re on the NSA website – feel free to check out all the other great benefits they offer.



by Aaron Ness, ADP

Year-end tax planning is always complicated by the uncertainty that the following year may bring, and 2012 is no exception. Indeed, year-end tax planning in 2012 is one of the most challenging in recent memory. A combination of events – including possible expiration of some or all of the Bush-era tax cuts after 2012, the imposition of new so-called Medicare taxes on investments and wages, doubts about renewal of many tax extenders, and the threat of massive across-the-board federal spending cuts – have many taxpayers asking how they can prepare for 2013 and beyond … and what to do before then. The short answer is to quickly become familiar with the expiring tax incentives and what may replace them after 2012 … and to plan accordingly. Year-end planning for 2012 requires a combination of multi-layered strategies, taking into account a variety of possible scenarios and outcomes.

ADP®, in partnership with CCH®, has provided this tax briefing which covers year-end tax planning considerations that are especially unique to 2012. Its focus is on aligning traditional year-end techniques with strategies for dealing with those uncertainties created by Congress’s delay in addressing sun-setting tax rates and the extension of other major tax benefits. Year-end strategies in response to the new-for-2013 3.8 percent Medicare contribution tax are also a focal point of this Tax Briefing.

As a commitment to the Accounting community, ADP has also provided a 2012 Year-End Accountant Guide as well as a 2012 Year-End Quick Reference Card to provide you with up-to-date information on critical dates and deadlines that you and your clients will need when preparing for year-end tax processing. The full 2012 Year-End Accountant Guide is also available at www.accountant.adp.com under the Tools and Resources section.




Chapter News

Greater Seattle Chapter
by Jeremy Saladino

We had a fun time at our first weekday Christmas party.  WAA President Jerry Gintz gave a nice speech about the future of WAA. We spent most of our lunch visiting with members at our individual tables. The meeting wrapped up with a dessert auction and raffle, raising over $150 for the Scholarship fund.
 
There has been a change in our speaker for the January 2nd meeting.  Kathy Hettick, EA, RTRP, ABA, ATP will be offering one hour of Ethics CPE.  She will be covering Circular 230 and Practitioner Due Diligence. Greg Thompson from the IRS had to reschedule to May.

Join us on February 6th, when we will have a speaker from the City of Seattle, to talk to us about the new sick leave laws.  This will be important to those of us that have clients that do any work within the city limits. 

We hope to see everyone at our next few meetings as we get ready for tax season.


Northwest Chapter
by Dale Offret

Ladies and gentlemen, boys and girls, ships at sea, ‘tis once again time, as the Northwest Chapter announces another beautiful day in the Pacific NW and in Western Washington, to come join us for some great fun, professional networking, continuing education, and comradely with a twist!  Open every 1st Thursday of the month, noon to 2PM at Max Dale’s in Mt Vernon, or by appointment, - what more could you possibly want?

The chapter meetings continue to focus on relevant, interesting, up-to-date topics with a twist of fun. Our meeting for December we had Shawn Gagnon present “Personal Bankruptcy Issues & Debt Forgiveness”.

January 3rd we have Patrick Reed from the Secretary of State talking about a new type of corporation to the state and current issues and developments.

February is our annual “Round Table”, so bring all your questions and we’ll answer them.

NO meetings in March or April… “Tax Season”

We are having our 2nd annual “Tax Season Kickoff” on January 18th at the Trumpeter Public House in Mount Vernon from 6:00 PM to 10:00 PM

Check us out at www.WAA.org

Spokane Chapter
by Hazel Flynn-Parkison

First of all, Merry Christmas and a Very Happy, Healthy and Prosperous New Year!!!

Our December meeting was enjoyable and a rare opportunity for members and guests to meet our legislators in person.  We heard our legislators speak about the issues and bills that will potentially come up next year. We had legislators from the 4th District (Rep. Matt Shea, Rep. Larry Crouse and Senator Mike Padden), Jeff Holy of the 6th District and Representative Elect Marcus Riccelli from the 3rd District.  Representatives were present from the offices of Michael Baumgartner, Patty Murray and Cathy McMorris-Rodgers. Robert McKinley, CPA, was our moderator for the meeting. In addition, our WAA State President, Jerry Gintz and WSCPA Spokane Chair Elect Kimberly Nelson attended the event.

Education, Networking & More …
The next Spokane Chapter WAA Bisk Study Session will be held on Wednesday, January 16th at 3:00 pm at Wayne Vinson’s office (2132 West Northwest Blvd., Spokane). Bob McKinley, Wayne Vinson and Paul Smart offer a study group using the Bisk educational materials which earn CPE for CPAs and EAs. The cost for the study group is $90 for eight 2 hour classes or $20 per class and includes the study materials.  The classes are held on the third Wednesday of the month, except no classes will be held in March or April.


View Monthly Meetings, Mini-Seminars and Register for Education Events on WAA.org website under Education>Calendar of Events.

 
Washington Association of Accountants l 2150 N 107th St #205 Seattle WA 98133 l 800-733-6286 l office@waa.org l www.waa.org