Los Angeles Chapter
A blog for and by a community of professionals
July 1, 2014
By Jillian N. Phan, CPA
If AB 2415 (authored by Assemblymember Ting) passes, it will become effective April 2, 2016, and CPAs must register with the Secretary of State as property tax agents. Moreover, if an accountant contacts the assessor’s office to inquire about the value of a property for depreciation calculation purposes in preparing an income tax return, this mere correspondence would require the accountant to register as a tax agent. This bill proposes to establish statewide registration for anyone who represents clients before the county assessor. Otherwise, the violation for not registering could equate to a $1,500 fine. As a practitioner, were you aware of this proposed legislation? Most likely not, but CalCPA is on top of this matter.
AB 43 (Bocanegra) proposes a simplified process for refunding the overpayment of sales and use tax. This legislation, sponsored by the Board of Equalization, allows the retailer that collected and remitted the sales tax to assign their rights to receive the refund to the customer that overpaid the sales tax. The overpayment must be $50,000 or more to qualify for this simplification process. Nevertheless, were you aware of this? Most likely not, but CalCPA is on top of supporting this measure.
As an advocate for the profession, CalCPA is working behind the scene closely with the California Board of Accountancy, the Board of Equalization and other organizations to ensure the best interests of the CPA community are attained.
We celebrated Independence Day July 4; we should also celebrate CalCPA as the advocate that strengthened the CPA profession.
July 1, 2014
Connect with other CalCPA young and emerging professionals and join our chapter’s YEP Committee. All you need to do is update your member profile and you will receive notifications of upcoming YEP events.
Networking Mixer with Financial Planning Association of San Gabriel Valley
Date: Thursday, Aug. 7
Time: 6-9 p.m.
Location: Salt Lounge at iPic Theater; Old Town Pasadena
Cost: $15/member, $25/nonmember (add $5 for at door registration)
Parking: Validation for 3 hours at 30 N. Fair Oaks Ave. (between Union Street and Colorado Boulevard)
July 2, 2014
Emerging Executives Committee July 17: Networking Mixer in Manhattan Beach
Time: 6–9 p.m.
Location: Grimaldi’s Coal Brick Oven Pizza; Manhattan Beach
This committee is for public or private professionals with five-10 years of experience and hold manager, director, vice president or similar roles—or are looking to take their careers to the next level. Our committee offers events where you can learn, network and see what distinguishes an average leader from a great one. Share leadership stories, learn from others’ challenges and successes, and get a plan together that will help you advance your career.
Thank you to our contributor sponsor Provisors for their generous support of CalCPA!
Learn more and register.
Save the Dates
Aug. 21: What’s Your Elevator Pitch? (Partner Engineering; Torrance)
Sept. 18: Networking Mixer (Casa Nostra Ristorante & Bar; Downtown LA)
Oct. 23: Marketing Yourself (Moss Adams; West LA)
Nov. 20: Networking mixer (West LA)
Dec. 18: Grow Your Practice Through Targeted Networking and Personal Branding (Location TBA)
Feb. 19: Networking mixer (South Bay)
March 19: Rethinking Networking (Location TBA)
April 23: Networking mixer (California Pizza Kitchen; Downtown LA)
Sponsoring an Emerging Executives event is a great way to connect with public or private professionals with five-10 years of experience who are in manager, director, vice president or similar roles, or are looking to take their careers to the next level. As a sponsor, you will have a great opportunity to meet these professionals and promote yourself and your company. Do you have a conference room that seats at least 20-30? Inquire about in-kind sponsorship!
If you’d like to be a sponsor, contact program associate Emily Ku.
This year, our chapter held 11 networking events, which included partnerships with 9 professional organizations for a total attendance of more than 1,200 participants.
As a sponsor, you will have the unique opportunity to promote yourself and your company to reach our chapter’s 11,000 members, plus hundreds of other financial professionals who attend our events. This is a great way to start your involvement with the CPA community.
Read the rest of this entry »
In its inaugural year, the Los Angeles accounting community joined efforts in the fight against hunger in a Closing the Hunger GAAP campaign benefitting the Los Angeles Regional Food Bank. During the campaign, 15 accounting firms raised more than $103,000, collected more than 7,600 pounds of food and accumulated more than 2,200 volunteer hours.
Closing the Hunger GAAP invited the Los Angeles accounting community to partake in a friendly competition to see who could raise the most food and funds and donate the highest number of volunteer hours to the Los Angeles Regional Food Bank, which provides food to more than 1 million children, seniors and families experiencing hunger throughout Los Angeles County. For every $1 contributed the Food Bank provides four meals, and 97 percent of all contributions to the Food Bank go directly toward program services.
The participating firms and award winners in 2013 included:
BDO USA LLP
Crowe Horwath LLP (winner of 3 awards)
EY LLP (winner of one award)
Green Hasson Janks LLP (winner of 3 awards)
Gursey Schneider LLP
Nigro Karlin Segal & Feldstein
PricewaterhouseCoopers LLP (winner of one award)
The 2014 Closing the Hunger GAAP Campaign began June 1, and all firms—as well as accounting student groups—are invited to participate. More information and a registration form can be obtained by contacting Catalina Salazar at the Los Angeles Regional Food Bank; (323) 234-3030, ext. 174.
The Empress of Soul, Gladys Knight, has been R&B, soul and jazz royalty for decades. She has garnered seven Grammys over her career. Plus, the famously funky Kool & the Gang also will be performing in a double bill that can’t be beat.
Great seats are now available in Sect. F2. Seating is limited; get tickets now! Bring your picnic baskets and join fellow CalCPA members prior to the show. The preshow picnic is in the Camrose area (area no. 15) south of Odin Parking Lot.
Time: 6 p.m.–midnight
Location: Hollywood Bowl
Learn more and register.
Are you a financial literacy volunteer looking for additional training, resources and networking opportunities? Are you considering volunteering your time to promote financial literacy in your community? Do you know of teachers or parents who are interested in bringing financial literacy resources into their schools?
California CPAs, educators, nonprofits, community volunteers, legislators and financial professionals will come together Aug. 6 with a common goal—to fight financial illiteracy.
The 2014 California Financial Literacy Summit at the Burbank Airport Marriott will provide free educational resources for teachers, volunteer training and opportunities to build connections within the California community to promote financial education and focus on how we can empower the next generation to better manage their finances through education.
More information and registration details to this free event are available online. And stick around for the reception following the event.
Our special thanks to Deloitte, PwC, KPMG, EY, Grant Thornton and the California Teachers Association for their generous support!
Details for the 2014-15 Emerging Leaders Certificate Program are being finalized—new speakers, new format, new topics. Participants will earn 16 hours of CPE and enjoy two full days of leadership development training and networking with peers, both regionally and within their CalCPA chapter. More information and registration details are available online.
- Wednesday, Aug. 20:
Locations vary by chapter
Strong leaders in strategic positions are key to CalCPA’s continued success. CalCPA Leadership Institute is a five-day program designed to teach members skills that will make them better leaders and managers—from identifying personal leadership styles to client management to managing people.
Find more information, including an application, online. Applications are due Aug. 29.