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Other Comprehensive Basis of Accounting Fundamentals | 4152308D

July 1, 2015
Sacramento Area
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President's Message

Strong Chapter Showing at CPA Day

February 15, 2017

By Maya Ivanova, CPA, MBA

 The best day to be a CPA is CPA Day at the Capitol. On Jan. 31, more than 250 CPAs from across the state gathered at the Capitol to meet their local elected officials, discuss upcoming issues that could affect CPAs and promote the profession. Our chapter, as usual, stood out with numerous participants—30 CPAs, accounting students and CPA candidates joined forces to meet our local legislators.

Some of the discussion topics this year included tax on services and financial literacy. Although tax on services is not a pending bill, it could be re-introduced as the state scrambles to raise revenues. Some of the adverse effects that tax on services could give our profession include outsourcing tax preparation services to other states, as well as taxing individuals and businesses for services that are mandated by the government. In addition, a lot of individuals and small businesses could be inclined to prepare their annual filings themselves, which will cause a lot of errors.

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Chapter News


Tales from CPA Day

By Andy Anderson

The day dawned clear and sunny! Compared to last year, this was a pleasant surprise. We all met for breakfast and some instructions, then went off to our meetings.

Our chapter had more than two dozen participants, including CPAs, students and staff. I was assigned to three meetings. My first meeting was with Sen. Josh Newman. We had a brief meeting and an extended interview with his chief of staff. He was attentive to our concerns and I think we struck a chord when we began talking about financial literacy and how it would be a good project within his district.

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2017-18 Chapter Nominations: Let Your Vote Be Counted

Download and complete your ballot for chapter officers and directors. Ballots are due by Friday, March 24.


Looking for YEP of the Year Nominees

Know a stand-out person involved in the community or the profession? Nominations are being accepted for the 2017 YEP of the Year. The award will be given at the annual Installation Dinner in May. For more details, contact Monica Thompson.

The nomination deadline is April 1.


Upcoming Events

April 25: Past Presidents Networking Breakfast

April 27: Tax Season Debrief – The Good, the Bad and the Ugly

May 16: Annual Managing Partners’ Roundtable


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CalCPA News


Sales Tax on Services Legislation Introduced

Tax on services continues to be a topic of discussion in the Legislature. A recently introduced bill, SB 640 (Hertzberg), proposes to enact a sales tax on services—including those provided by CPAs. While the bill does not articulate how such a complex shift in the tax burden would be accomplished, the introduction of this legislation keeps the issue on the radar within the public policy arena—particularly as tax reform conversations heat up.

Similar far-reaching tax on services proposals were introduced in 2015 and 2016 by Sen. Hertzberg, but both bills died in the Legislature when they failed to meet legislative deadlines. These proposal have been characterized as a way to broaden California’s tax base to address a volatile stream of tax revenue. However, the proposal would impose an extremely complex shift in the tax burden to raise billions in new tax revenues.

Read the rest of this entry »


CalCPA Service Awards Nominations Close March 31

Before March is done, nominate an outstanding member or firm for:

  • Public Service Award: Given to a CPA who has been especially active in service to the profession and community. 
  • Public Service Award for Firms: Aims to recognize firms for their public service contributions on the local, state or national level.
  • Distinguished Service Award: Granted either on the basis of long and distinguished service or for some singular act resulting in extraordinary contribution to the profession, CalCPA and/or the community. 


Careers in Forensic Accounting – April 20

What does it take to be a forensic accountant? Get the scoop straight from those in the know! Learn from forensic accounting professionals about their career journey. Gain insights into the career opportunities in the forensic accounting industry. Understand what it takes to excel as a forensic accountant.

Register for the live event or webcast today!

Download the flier.

For questions or more information about student membership, email  David Lo.

Accounting & Auditing Update
View the promo video


WLF


Behind the License

We know there’s more to your life than the tax forms, deadlines and rules and regulations that you spend time with at the office. And we want to tell your story—or the story of a member you may know.

Our monthly Final Entry feature in California CPA takes a look at the person behind the license. Over the years we’ve featured members who race carsplay in a banddevote time to nonprofit causeshave taken on physical endurance challengessurfDJ and make wine.

So, what’s your story?

If you’d like to participate or want to recommend a colleague, contact managing editor Damien English with details and we’ll set up a short interview.


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Items of Interest

Bulletin Deadlines

April: March 9
May: April 7
June: May 9

Save the Date

May 15: CPA Shootout Golf Tournament, Canyon Crest Country Club, Riverside

Membership News

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Education Foundation Courses/Conferences

Contact Us

Program Associate:
Monica Thompson
(951) 288-4459

Division Director:
Membership and Strategic Programming
Jill Gorman
(650) 522-3204

Chapter Leadership