TXCPA Dallas

October 2021 Newsletter

 

In This Issue…

  • Chairman's Message
  • CPE
  • Coming Soon!!!
  • Convergence 2022
  • Events
  • PAC Notes
  • A Word from Our Sponsors
  • Membership
  • Marketplace
  • TXCPA

Chairman’s Message

By Sharon Lukich, CPA

TXCPA Dallas is governed by a Board of Directors charged with the responsibility of overseeing the functions and activities of the Chapter and stewarding its vision. Each year at this time, we call on you, our membership, to help determine the future of the organization by submitting your nominations for leadership positions. The posts to be filled in 2022-23 are:

 

Chair-Elect

Treasurer-Elect

TXCPA Dallas Directors

TXCPA Directors

Nominations Committee Members

 

The deadline for nominations is October 20, 2021. We strongly encourage you to take the time to share your choices and help shape the development of our association. You can submit your 2022-23 leadership nominations to Laura McFadden.

 

Our CPE program is taking a break this month, but we’ll be roaring back in November and through the end of the year with several interesting and entertaining presentations. Look under “CPE” below to find a list of all classes open for registration, as well as those coming soon.

 

The BIG education news this month is this….

 

CONVERGENCE 2022

will be held LIVE on

Monday, May 16, 2022

Omni Frisco Hotel at the Star

 

We are so excited to be planning for a live event this year and hope you’ll plan to join us as we celebrate 18 years of our hallmark educational event. We’ve already begun planning an outstanding program that we know you won’t want to miss. Registration will open before the end of the year, so mark your calendars and prepare to be a part of something extraordinary!

 

Our October Thirsty Thursday will be held on Thursday, October 21, at Blue Mesa Grill on Montfort Drive. We hope you’ll take a break and join us for what is always an enjoyable time of good food, beverages and conversation with your fellow TXCPA Dallas members.

 

Stay up to date on our evolving slate of activities by visiting thecalendar of events on our website.

 

Have an awesome October!

 

Sharon Lukich, CPA

Board Chairman, 2021-22


CPE

Live Ethics Course

Accounting Ethics

Note: TXCPA Dallas Ethics classes are now presented on a bi-monthly schedule. When planning for the fulfillment of your Ethics course requirement, please keep this new schedule in mind.

 

You are invited to join us for our bi-monthly, State-approved, four-hour Ethics course, Accounting Ethics.

 

Speaker and author, Allison M. McLeod, LL.M., CPA, will educate and inform CPAs not just on what is the right thing to do according to the Texas Rules of Professional Conduct but how to put your values into action!  As part of this course, we will also look at various schools of ethical thought and walk through real world examples of individuals and companies faced with moral dilemmas.

 

Description: A CPA is challenged in today’s work world to not only serve his/her client or employer but also to protect the public interest by ensuring that there is transparency in financial reporting or there is fair administration of the tax laws. In balancing the two interests, a CPA may find him or herself in an ethical dilemma. This course covers not only basic ethical frameworks, but also specific rules governing CPA practice and responsibilities. It concludes with a section on how a CPA can put his or her ethics into action.

 

Learning Objectives:

1. To educate licensees in ethics of professional accounting as Texas CPAs.

2. To convey the intent of the Texas Rules of Professional Conduct and the AICPA Code of Professional Conduct in the performance of professional accounting services/work, not to adhere to the mere technical compliance of such rules.

3. To assist the Texas CPA in applying ethical judgment in interpreting the rules and determining public interest. Public interest should be placed ahead of self-interest, even if it means a loss of job or client.

4. To review and discuss the Texas Rules of Professional Conduct and their implications for persons in a variety of practices, including:

·     CPAs in client practice of public accountancy who perform attest and non-attest services.

·     CPAs employed in industry who provide internal accounting and auditing services.

·     CPAs employed in education or in government accounting or auditing.

 

This is a live, in-person event.

Time:

Level:

Prerequisites:

Format:

CPE Credit Hours:

Sponsor #:

Cost:

8:30 a.m. – 12:30 p.m.

Basic/Ethics

None

Live (Classroom)

4

441

$120/Member; $150/Non-Member

To register for a class, please click the appropriate date below:

Tuesday, November 9, 2021

Friday, January 28, 2022

Friday, March 25, 2022

 


Live CPE Event:

International Taxation:

An Overview of Managing Risks for Your Client

Monday, November 8, 2021

 

TXCPA Dallas

invites you to a

Live, In-Person CPE Event

International Taxation:

An Overview of Managing Risks for Your Client

presented by

 

Josh Whitworth

Partner, Howard LLP

 

 

Monday, November 8, 2021

1:00 p.m. – 3:00 p.m.

TXCPA Dallas Training Facility

12400 Coit Road, Suite 750

Dallas, TX 75251

 

This is a live, in-person event.

 

Course Description: This course will provide an overview of the various international tax forms and filing obligations for U.S taxpayers with investments and business operating abroad. This course will provide a high-level overview of Form 114 (FBAR), Form 8938, Form 5471, Form 8865, Form 926, Form 8621, Form 3520, and Form 3520-A. It will also discuss various options available for clients that have not been fully compliant in filing applicable forms.

 

Learning Objectives: At the end of the course, the participant should:

·     be able to identify the various international forms;

·     have a general understanding of who must file;

·     obtain a basic understanding of how certain forms should be completed; and

·     have an understanding of the various options available should the practitioner and/or taxpayer determine that they have not been fully compliant in previous years.

Date:

Time:

Location:

Course #:

Level:

Prerequisites:

Format:

CPE Credit Hours:

Cost:

Monday, November 8, 2021

1:00 p.m. – 3:00 p.m.

12400 Coit Road, Suite 750, Dallas 75251

22120619

Basic/Technical

None

Live (Classroom)

2

$35/Member; $135/Non-Member

 

To register, click here.

 


 

Online Lunch & Learn CPE Event:

What CPAs Should Know About

Protecting Privileges for Tax Information

Friday, November 12, 2021

 

 

TXCPA Dallas

invites you to an online

Lunch & Learn CPE Event

What CPAs Should Know About

Protecting Privileges for Tax Information

presented by

 

Joshua Smeltzer

Counsel, Gray Reed

 

Grab your lunch and log on for this

interesting and informative presentation on

Friday, November 12, 2021

12:00 p.m. – 1:00 p.m.

This is an online event.

 

Course Description: Former Department of Justice Tax Division Attorney discusses the legal standards applied to protecting privileged in tax information and communications and what tax advisors should do to ensure that privileges are maintained throughout the process. The presentation will discuss recent cases and practical tips for practice.

 

Learning Objectives: Attendees will understand the legal standards applied to privilege and distinctions between accountant and attorney client privileges.

Date:

Time:

Course #:

Level:

Prerequisites:

Format:

CPE Credit Hours:

Cost:

Friday, November 12, 2021

12:00 p.m. – 1:00 p.m.

22120639

Basic/Technical

None

Live (Internet-based)

1

Free, but please register to let us know you’ll attend.

To register, click here.

 


 

Live, In-Person CPE Event:

Selling Your BRAIN Not Your Time

Monday, November 22, 2021

 

TXCPA Dallas

invites you to a

Live, In-Person CPE Event

Selling Your BRAIN Not Your Time:

Subscription Pricing for Accounting Professionals

presented by

 

Ed Kless

Senior Director, Partner Development & Strategy, Sage

 

Monday, November 22, 2021

1:00 p.m. – 3:00 p.m.

TXCPA Dallas Training Facility

12400 Coit Road, Suite 750

Dallas, TX 75251

 

This is a live, in-person event.

 

Course Description: This session is dedicated to the possibility that a professional firm will be more effective for its customers if it begins to sell not hours or service, but access to the brains of the professionals. Creating subscriptions for access is hard work and not for everyone because it requires professionals to think differently than they have in the past about what it is they really do and sell. If you think you have what it takes to make this shift or are just curious about it, you are hereby invited to open a dialogue about how best to alter this language by Ed Kless, Sage’s senior director of partner development and strategy, who will facilitate this session.

 

Learning Objectives: Attendees will:

·     Understand the two business models in use by firms;

·     Review the nine subscription models; and

·     Learn about metrics used by subscription organizations and a new way to present an income statement.

Date:

Time:

Location:

Course #:

Level:

Prerequisites:

Format:

CPE Credit Hours:

Cost:

Monday, November 22, 2021

1:00 p.m. – 3:00 p.m.

12400 Coit Road, Suite 750, Dallas 75251

22120625

Basic/Technical

None

Live (Classroom)

2

$35/Members; $135/Non-Members

To register, click here.

 


 

Live, In-Person CPE Event:

Guidelines for Claiming and Defending

Research and Development Tax Credits Under Section 41

Friday, December 3, 2021

 

TXCPA Dallas

invites you to a

Live, In-Person CPE Event

Guidelines for Claiming and Defending

Research and Development Tax Credits

Under Section 41

presented by

 

Joshua Smeltzer

Counsel, Gray Reed

 

Friday, December 3, 2021

1:00 p.m. – 3:00 p.m.

TXCPA Dallas Training Facility

12400 Coit Road, Suite 750

Dallas, TX 75251

 

This is a live, in-person event.

  

Course Description: Former Department of Justice Tax Division lawyer discusses the current state of the law for Section 41 tax credits, the top cases CPAs should know in evaluating claiming the tax credit, and practical tips and for claiming and defending these tax credits if audited.

 

Learning Objectives: Attendees will receive an overview of the current law and practical tips for practice involving Research and Development Credits under Section 41.

Date:

Time:

Location:

Course #:

Level:

Prerequisites:

Format:

CPE Credit Hours:

Cost:

Friday December 3, 2021

1:00 p.m. – 3:00 p.m.

12400 Coit Road, Suite 750, Dallas 75251

22120719

Basic/Technical

None

Live (Classroom)

2

$35/Members; $135/Non-Members

To register, click here.

 


 

Online Lunch & Learn CPE Event:

Conquer Your Sand Traps –

It Made Tiger Woods a Consecutive Champion

Tuesday, December 7, 2021

 

TXCPA Dallas

invites you to an online

Lunch & Learn CPE Event

Conquer Your Sand Traps –

It Made Tiger Woods a Consecutive Champion

presented by

Scott Carley

The Change Energizer

 

Grab your lunch and log on for this

informative presentation on

Tuesday, December 7, 2021

12:00 p.m. – 1:00 p.m.

 

This is an online event.

  

Course Description: What keeps business owners and high-performance employees from achieving phenomenal, consistent results… are their proverbial sand traps. Tiger Woods knew that 11% of a golf game is played from a sand-trap or in the rough. And because he acknowledged it and spent time learning expert techniques, he often pitched out and onto the green very close to the hole. Sand-Traps are the hazards that take you off your best business game: Paralyzing Fear / Covid19 Isolation / Ghosting Clients / Conflict Resolution. Scott Carley’s award-winning illustrated presentation is about what blocks business owners and high-performance employees from achieving phenomenal, consistent results. Complete with his pitching wedge and golf balls. FOCUS and taking action on your obstacles, innovation and KPI’s separates Champion performers!

 

Learning Objectives: Attendees will leave with:

·     Confidence to tackle their hazards;

·     Steps to overcome objections and push-back; and

·     A winning attitude and their personal winning icon.

Date:

Time:

Course #:

Level:

Prerequisites:

Format:

CPE Credit Hours:

Cost:

Tuesday December 7, 2021

12:00 p.m. – 1:00 p.m.

22120725

Basic/Non-Technical

None

Live (Internet-based)

1

Free, but please register to let us know you’ll attend.

To register, click here.

 


 

Live CPE Event:

Nonfinancial Contributions

Monday, December 13, 2021

 

TXCPA Dallas

invites you to a

Live, In-Person CPE Event

Nonfinancial Contributions

presented by

 

Chad Rosen

Managing Member, CMRosen

 

 

Monday, December 13, 2021

1:00 p.m. – 3:00 p.m.

TXCPA Dallas Training Facility

12400 Coit Road, Suite 750

Dallas, TX 75251

 

This is a live, in-person event.

 

Course Description: Join us for a review of the recognition and measurement principles for various types of nonfinancial contributions, along with discussion of the new presentation and disclosure requirements of ASU 2020-07.

 

Learning Objectives: Attendees will:

·     Receive assistance in serving the nonprofit sector;

·     Be able to identify types of nonfinancial contributions; and

·     Understand recognition and measurement principles for various types of such donations, along with the new presentation and disclosure requirements of ASU 2020-07.

Date:

Time:

Location:

Course #:

Level:

Prerequisites:

Format:

CPE Credit Hours:

Cost:

Monday December 13, 2021

1:00 p.m. – 3:00 p.m.

12400 Coit Road, Suite 750, Dallas 75251

22120710

Basic/Technical

None

Live (Classroom)

2

$35/Members; $135/Non-Members

To register, click here.

 


 

Steve Tillinger Presents

Online Federal Tax Update Course

 

Whether you are a generalist or a tax specialist, you will take away valuable information and insights from this eight-hour program. The course will bring you up-to-date on current issues in federal income taxation affecting individuals and small business owners with emphasis on coverage and analysis of 2021 tax legislation, with special emphasis on President Biden’s Build Back Better plan and coronavirus legislation, both final and proposed; updates and new developments of 2020 and earlier tax law, with emphasis on continuing developments with the Tax Cuts and Jobs Act; important court cases; Treasury income tax regulations; IRS revenue rulings and procedures; and more!

 

TXCPA is hosting these courses on:

November 18, 2021

December 3, 2021

January 12, 2022

February 8, 2022

Click here to register.


CPE Coming Soon

Save the Dates

for These CPE Opportunities!

Community Outreach: Love for Kids Toy Sort

Sunday, November 21, 2021

Sheraton Hotel – Downtown

TXCPA Dallas Holiday Party

Wednesday, December 15, 2021

Park City Club

Live CPE: Current Financial Planning Strategies

for Clients and Practitioners

Monday, February 7, 2022

TXCPA Dallas Training Facility

Online Lunch & Learn:

Recent Technology & Security Considerations

Monday, February 21, 2022

Virtual Event

Community Outreach: Volunteer Painting Event

March 2022 (Date TBD)

Jack Lowe Elementary School

Convergence 2022

Monday, May 16, 2022

The Omni Hotel Frisco at The Star

Registrations will open soon. Stay tuned!


CONVERGENCE 2022

Save the Date

Convergence 2022

 

SAVE THE DATE

 ‘Cause We’re Back, Baby!!!

 

TXCPA Dallas is excited to announce its

hallmark event of the year

CONVERGENCE 2022

 

Monday, May 16, 2022

 

L-I-V-E

at

The Omni Frisco Hotel at The Star

 

Circle the date on your calendars

and plan to attend the premier

accounting CPE event

in North Texas!

Watch this newsletter and your email inbox

for the opening of registration.


Thank You to our

Convergence 2022 Sponsors


Events

October Thirsty Thursday

Thursday, October 21, 2021

 

 

 Join us for our monthly networking event on

Thursday, October 21

5:30 p.m. – 7:30 p.m.

at

14866 Montfort Drive

Dallas, TX 75254

 

There is no cost to attend,

but please use the link below to let us know you’re coming.

All TXCPA Dallas members are welcome!

See you there!

To RSVP for the event, please click here.

 


 

TXCPA Dallas

Leadership Development Academy Alumni Event

Tuesday, November 9, 2021

 

 

DID YOU GRADUATE… from TXCPA Dallas’s Leadership Development Academy (LDA)?

 

Since 2009, the LDA has been cultivating leadership and camaraderie within its annual program, and we think this year is the perfect time to celebrate those leaders!

 

TXCPA Dallas

will host a reunion event for

ALL LDA GRADUATES

. . . . . . . . . .

Tuesday, November 9

5:00 -7:00 p.m.

Meso Maya Comida Y Copas

5280 Belt Line Road

Dallas, TX 75254

 

NO CLASS ASSIGNMENTS, JUST SNACKS & DRINKS. We are looking forward to reuniting old friends and gathering program ideas/feedback from our graduates. Your continued commitment to LDA and the future leaders of our profession is greatly appreciated.

 

To RSVP or inquire about the event please contact the 2021-22 LDA Committee Chair, Lucy Anne Turek, or Laura McFadden.

 

If you would like to know more about the LDA, check out our website or contact Lucy or Laura.

 

 

This event is sponsored by


PAC Notes

PPP Forgiven Loans Not Taxable in Texas –

Your PAC Support was Influential

 

 

During the past legislative session, TXCPA’s CPA-PAC was able to quickly mobilize and get legislation passed that made PPP loan forgiveness amounts non-taxable in Texas – same as on the federal level. TXCPA has the ability to impact important legislation because we’ve spent years earning the respect of Texas legislators. Check out this video from Pat Durio, CPA – Houston, member of the CPA-PAC committee, to learn more about how the CPA-PAC is working for you and the importance of building relationships with our legislators. Invest in the PAC.


A Word from Our Sponsors

Freeman Law Presents

Tax Court Exam Course

 

Unlike other courts, the Tax Court extends membership in its bar to qualified non-attorneys, allowing CPAs and Enrolled Agents to represent taxpayers in the United States Tax Court. To be eligible, however, you must successfully pass a written examination. The written examination is administered by the Tax Court every two years. The next written examination will be held in November 2021. Freeman Law provides a comprehensive review course, preparing tax professionals to sit for—and pass—the Tax Court’s admission examination. For more information and to sign up for the course, click here.

 


 

Freeman Law Presents

First Annual International Tax Symposium

 

Find yourself on the cutting-edge of international tax law, with up-to-date insights and perspectives on cross-border taxation and current trends. Prepare for the realities of today’s tax practice—and for that of tomorrow. Global economies are increasingly connected. Markets and supply chains cut across tax authorities. Never before has a well-rounded knowledge of the international tax rules and risks been more important.

 

For more information and to register, click here.


Membership

Welcome, New Members!

 

 

Taushiyat Alim, Student

Jocelyn Glisbeth Andrade, Student

Christopher M. Arterberry, Student

Faisel Mohammed Ata, CPA

Clinton Au Jong, CPA

Bijouia Taiani Banh, Student

Matthew Eric Barkis, CPA

Mark Frederick Barton, CPA

Sonali Bhakta, CPA

Tyler Lee Blythe, CPA

Daipayan Bose, Student

Ryan Christopher Brown, Student

Michael Francis Callan, CPA

John Cameron Cassidy, CPA

Ting Chun Chen, CPA

Pei-Jung Chia, CPA

Chiting Chiang, Student

Ha Bin Chung, CPA

Blake McCaleb Cole, Student

William Peter Collins, CPA

Connor Corr, Student

Camden Renee Cronje, Student

Kayla Maria Cronje, Student

Deepti Kurien Dominic, CPA

Ayla Qusain Dossal, Student

Cooper William Groves, CPA

Sharvari R. Gupta, Student

Jesus Hernandez, CPA

Hanna Victoria Herzog, CPA

Courtney Taylor Hess, Student

Tyler Mitchell Hoffman, CPA

Irene Sue Horowitz, CPA

Pallavi Deepak Kadam, CPA

Isaac Kibiwott Kangogo, CPA

Logan Ryleigh Kelly, CPA

Deena Marie Keys, CPA

Mauli Bijal Kinkhabwala, Student

Deborah A. Klosky, CPA

Taphenes Mary Koroma, CPA

Lan Zhang Kostrikin, CPA

Jordan Clark Laborde, CPA

Sarah Lawson, Student

Ruochen Liao, CPA

Samia Lin, Student

Jorge Alberto Luna Rivas, CPA

Alexandra Davis Marcello, CPA

Andres Aaron Martinez, CPA

Lauren Matlage, CPA

Shauna Lynn Mcdonald, CPA

Riley Morgan Mckean, Student

Tatsiana A. Merriweather, CPA

Meesha Alexis Mobley, CPA

Sionne Janae Murray, Student

Anh T. Nguyen, Student

Isaiah Nix, CPA

Jacob Thomas Odom, Student

Jared Pace, CPA

Bryce Parker, Student

Christopher Alan Pasheilich, CPA

Davita Patel, CPA

Devam Patel, Student

Jordan Kenna Pendergraft, CPA

Jordan Picazo, Student

Karen Lynn Pickett, CPA

Jessica Erin Porter, CPA

Mohammed Vaziruddin Quadri, CPA

Joshua Clabe Racca, PhD, Affiliate

Hayden Elizabeth Raney, CPA

Isabella Raye Sacco, Student

Pranami Saha, Student

Jesse Lee Saldivar, CPA

Nadeera Samaraweera, Student

Claudia Ruth Sanchez, Student

Benjamin Patrick Shimota, Student

Christopher Steven Shuleva, CPA

James Robert Simmons, Jr., CPA

Sarah Elizabeth Smith, CPA

Behzad Sokhansanj, Student

Eugene Alan Stark, CPA

Alexis Strong, Student

Madison Nicole Taylor, CPA

Nhu Huynh Trinh, Student

Michael Vasilyev, Student

Leila Carolina Viesca, CPA

Nan Wang, CPA

Lexie Rae Wheeler, CPA

Wenjun Wu, CPA

Shuqi Xia, CPA

Joshua Yuanshiun Yao, CPA

 


TXCPA Dallas Scholarship Winner Spotlight

 

 

Each month, we will spotlight one of this year’s TXCPA Dallas Scholarship winners. Join us this month in getting to know University of Texas at Dallas (UTD) graduate accounting student Irene Chen and welcoming her to TXCPA Dallas. 

 

PwC made a believer out of Irene. From a young age, her dream was to “save the world”, make an impact on society. Her initial plan was to become a doctor, but when it became clear that healthcare was not her path, she was persuaded to experiment with a different major – accounting. During her college freshman year, she was accepted into PwC’s Explore program, a one-day event that allows participants to discover their strengths, learn about the PwC culture and interact with firm professionals. It was during this event that Irene realized that accounting could be her ticket to making the world a better place. As she got deeper into her educational path, she saw how vital accounting is to business, investors and the average person; how the CPA’s critical thinking skills and professional judgment help businesses to become more efficient, more successful, and better able to solve problems and improve society as a whole.

 

As an undergraduate at UTD, Irene was awarded the Global Excellence, International Education Fund, and Academic Excellence Scholarships. She was a participant in the Davidson Management Honors Program, Collegium V Honors Program, and the Professional Program in Accounting, as well as Beta Alpha Psi and the Undergraduate Accounting Club. She served as a Tax Intern for PwC and will join the firm full-time as a Tax Associate upon her graduation in May of 2022.

 

Although accounting is not the typical occupation people think of when they want to “change the world”, as Irene puts it, accountants “instill and preserve integrity, ethics, and trust in the business world (and) help solve problems so that the economy can continue to flourish. Some superheroes wear capes; others wear white coats; still others wear three letters behind their name – CPA.” We look forward to seeing how this accounting superhero makes her mark on the world.

 

TXCPA Dallas welcomes and congratulates Irene Chen.


Marketplace

Wolters Kluwer Offers

October Specials on CCH Favorites

 

Visit www.cchcpelink.com/dcpas

to order with our TXCPA Dallas discount.


TXCPA

TXCPA Chapter Tip Sheet

The PAC is Your Home-Field Advantage

Between work and family commitments, the last thing you have time to do is research all the candidates running for office or, even more difficult, read all the tax bills coming out of the legislature. The good news is that you have TXCPA on your team. Let Tram Le, CPA – Fort Worth, explain why the PAC is your home-field advantage.

 

December is TXCPA Month of Service

Again this year, TXCPA’s Branding and Community Outreach Committee has identified financial literacy as a focus area for service and education during TXCPA Month of Service. The CPA profession is well positioned to provide guidance and support for helping Texans build stronger financial foundations. Help us increase our impact in December with your participation. Later this fall, contact your chapter for local engagement opportunities, or visit TXCPA’s website to learn more about how you, your firm or your company can participate in TXCPA Month of Service.

 

Join an Interest Area Community on TXCPA Exchange

In addition to the All Member Forum, we have three interest area communities on TXCPA Exchange – Tax Issues, CPA Practice Management and Nonprofit Accounting. Join one, or all, of these communities to ask questions, offer feedback and network with fellow TXCPA members. Take advantage of this valuable members-only benefit today!

 

Follow TXCPA on Instagram

Follow @TexasSocietyofCPAs on Instagram for photos and updates on what’s happening across our 20 chapters. Have a great photo you want to share? Use hashtag #TXCPA. You can also follow us on Twitter, Facebook and LinkedIn to get the latest TXCPA and industry news.

 


 

TXCPA’s

CPA2B Bootcamp

Friday, October 29, 2021

 

 

Register here.