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March 2016 Article Archives

O Say Can You See?

Published on March 02, 2016 by Jeanie Price, DeLeon & Stang, CPAs & Advisors

“Clearly, those involved in the accounting profession would have to agree that the most difficult job in a CPA firm is that of the Firm Administrator,” says Rich Stang, Managing Partner at DeLeon & Stang, CPAs & Advisors, in Gaithersburg, MD.  Depending on the size of the firm, the firm administrator may handle human resources (new employee orientation, payroll, benefits, staff evaluations, etc.), network technology, billing, firm finances, accounts payable and receivables, recruiting, marketing, CPE, equipment and facility management, record retention . . . whew!  Oh and don’t forget employee morale!


Taking Your Firm from Ordinary to Extraordinary

Published on March 02, 2016

Strategies to Make an Immediate Impact

The profession is constantly facing significant change. Foremost in the process is a shift to focus energy and resources on the dreams, goals and desires of Generation X and Millennial team members and clients. Firms who recognize this shift and begin driving cultural change stand the best chance of remaining relevant, competitive and sustainable.

As an HR professional, your job is to elevate your firm’s success through its people and lead your firm through initiatives including building a diverse workforce, competing for top talent, and preparing younger generations to fill the shows of leadership.


Just Read It!

Published on March 02, 2016 by Jim Fahey, AAAPM, CPAFMA Chair

When I need a little boost, I look to a journal I keep in Evernote.  In that journal I keep a list of success quotes that I come across from time to time.  One of those that keeps coming back to me from our own Rita Keller is very simple……”Read!”

The application of the statement sounds easy, we have to do it a majority of our time in the office.  Have to are the key words there….when it is “have to”, it might not be all the subjects we “want to” read.  If you are passionate about the role you are in, these have to and want to’s will go hand in hand.  Now, you just need the “time to.”


Meet Jeanie Price, Partner and Director of Administration at DeLeon & Stang, CPAs & Advisors

Published on March 02, 2016

Jeanie Price
Partner and Director of Administration
DeLeon & Stang, CPAs & Advisors

What has been your involvement with CPAFMA?
I have served as the Washington DC Chapter Co-President (many times over the years) as well as the Director of Professional Awareness on the National Board. 

Where are you from?
My hometown is Mount Airy, Maryland

How did you get into accounting/firm administration?
I started out as the only administrative person at our firm in 1991 and helped grow the role into what it is today.

What do you consider your greatest professional accomplishment or milestone?
Being offer a partnership in the firm.


Keys to Successful M&A from an Operations Standpoint

Published on March 02, 2016 by Sharon Trabbic, AAAPM, William Vaughan Company

William Vaughan Company was founded by William Vaughan in 1959 and we have since evolved into one of the largest locally owned CPA firms in Northwestern Ohio. I joined the firm in 2002 as firm administrator, and was promoted to Chief Operating Officer in 2009. Currently we have seven partners and approximately 60 employees. In July of this year, we acquired a firm in Napoleon, OH and retained that office location. This is our first time creating a new location for the firm, and having multiple offices is certainly a new dynamic for us. However, it was important to us, and our clients obtained through the acquisition, that we have a strong local presence. We’re looking forward to seeing how this new office will develop.

This recent acquisition is not our first. We acquired another local firm in November of 2013, and adjusted our strategic plan aiming to acquire one new firm per year. Because that acquisition happened late in the year, we did not meet this goal in 2014 but knew that it would be a focus for us in 2015. Right after busy season in 2015, a friend of the firm contacted our managing partner and indicated that he was ready to sell his practice. During our 2013 acquisition, we had learned that open communication is vital to a smooth transition, so this time around other members of our management team and I were immediately brought into the conversation. The negotiation for this acquisition was primarily handled by three partners (including our current and former managing partners) and myself.  


Feedback: Breakfast of Champions!

Published on March 02, 2016 by Ann White, AAAPM, BDO

As we all enter busy season, it’s easy to put off tasks that do not directly impact our clients such as providing feedback. But when you consider the effect of delaying employee feedback until the performance management process, employee engagement and retention suffer. All too often, it seems the path of least resistance or the good ole – “I don’t have time” methods of providing feedback become habit during the busiest time of the year. It is during this time of the year when employees have the most development opportunities. Once the slower summer months hit, the work loads typically decrease and there is very little opportunity for an individual to apply the feedback provided. I’ve heard all too often in exit interviews, “Well I wish someone would have told me sooner so that I would not have continued making the same mistakes.” So why not make this busy season different? It’s a great opportunity to work with your leaders emphasizing the importance of making time for providing feedback – informal or formal – during busy season and beyond.


What Do You Need to Know About IRS Form 1095-C?

Published on March 02, 2016 by Bob Biddle, AAAPM, Bowman & Company, LLP

If your firm has less than 50 full time equivalent employees, this article MAY not apply.  But if your firm has clients with 50 or more employees you may want to make sure that the client or their payroll service, or your firm, is providing the Form for your client’s employees

Listed below are some Frequently Asked Questions about IRS form 1095-C.

What is Form 1095-C?

The Affordable Care Act includes both the individual mandate and the employer mandate.

Who receives a Form 1095-C?

An employer is required to send Form 1095-C to employees that meet the IRS definition of a full-time employee – those employees working an average of 30 hours a week or 130 hours per month, as well as any individual who was enrolled in a health insurance plan.   


2016 CES Favorite Find for Accountants

Published on March 02, 2016 by Roman Kepczyk, CPA.CITP, CGMA, AAAPM, Xcentric

Each January, CES, the largest consumer electronics show in the world is held in Las Vegas, and presents an opportunity for over 3,800 vendors to promote their latest gadgets and showcase their future product announcements.  My mission was to cover as much of the more than two million square feet of show space as possible in three days, with the intent of searching out trends and products suited for the accounting profession.  While many of the products were futuristic (manned drones, personal robots, and augmented reality visors), the latest laptops, tablets, scanners and Bluetooth devices gave us cause to be excited.  While there were quite a few “Cool Tools” that will make it into our gadget session, we wanted to pick out ONE practical and available device (not vaporware!) that could make a difference in your productivity.  This year that CES Favorite Find is the Plantronics Voyager Focus UC Bluetooth headset.