February 2014 Newsletter

President's Message

Amy Cooper

“Don't underestimate the value of Doing Nothing, of just going along, listening to all the things you can't hear, and not bothering.”  ~

Pooh's Little Instruction Book, inspired by A.A. Milne

 Tax Season has begun!  And while I have been removed from tax season for 5 years now, I still remember (rather vividly) this time of year – the rush to get prepared as much as you can before the storm hits; enjoying those last Saturdays at home while you still have them; and the general anticipation of spending lots of time with your co-workers.  As I was thinking about this month’s newsletter article, I thought about what I could offer to you that might help during tax season.  You get plenty of technical daily newsletters so this article is not about tax changes or new revenue recognition rules.  It is about another factor that is so prevalent in our lives, especially during these first few months of the year…stress! 

I researched some stress management tips I could share with you and did you know there is an actual article on WebMD about how accountants deal with stress??  (I’m not sure what that says about our profession.)  Below are some fun things to do for tax season or stress management tips I read about for tax season and its inherent stress.  I realize that some of these are obvious tips but somehow when I was in the middle of tax season, I always seemed to forget some of these.  My mind seemed to be more focused on clients, deadlines, clients, deadlines! 

• A celebration to kick-off tax season.  We all celebrate the end of tax season but why not be like film companies who throw red carpet premiers?  Start the season on a positive note with lots of energy!
• Take a break in March and have a firm night out or lunch to celebrate all you have accomplished so far and to get in the right frame of mind for that last month.
• Have secret pals. Pick secret pals (by blind draw) and get something for that person, once a week for six weeks. The goal is to do it in secret. On April 15th, at the post-tax-season celebration, have everyone guess who their secret pal was before the last gifts are given and secret pals reveal themselves. You could have each person who plays fill out an information sheet on their favorite things, etc, to help with the gift ideas. Set a monetary limit, i.e., no more than $40 across the entire period.

From How to Cope With Tax-Time Stress: Experts explain ways to avoid the emotional storms of tax season, courtesy of Heather Moreno, owner of wellness coaching firm PeopleFit USA:

• Reduce, rather than postpone, your fitness program. If it takes too much time to go to the gym, then do light exercise at work. Take the stairs to the office or do squats at your desk. 

• Don't skip breakfast or work through lunch just because you're busy. You'll get fatigued or starved and end up filling the void with junk food. Instead, fuel up at regular intervals on foods like fruit, nuts, yogurt, or hard-boiled eggs. They're healthy and easy to pack. 

• Don't use food to relieve your stress. Try stretching, deep breathing, or a little exercise instead.

From Accountants more likely to suffer from stress. Top ten stress busters from Chartered Accountants’ Benevolent Association (CABA). 

• Have a support network
• Make sure your diet is healthy
• Exercise
• Sleep well
• Practice deep breathing
• Improve your posture – release muscle tension
• Use relaxation techniques
• Reduce caffeine intake
• Reduce alcohol intake
• Review and reduce use of over the counter medication 

From Stress: It’s a State of Mind by Bill Sheridan.  In Bill’s post, he offers tips from Peg Neuhauser, a management consultant and president of PCN Associates tips for avoiding burnout:

• Lighten up and laugh.
• Laugh more than you whine.
• Smile a lot.
• Keep things in perspective. Are you dead? No? Then things aren't so bad.
• Don't try to control what can't be controlled.
• Don't look back. Don't dwell on what's already been done.
• Think of yourself as a sprinter, not a marathoner. Take short breaks every 90 to 120 minutes.
• Change your thoughts and you'll change your mood -- and, as a result, your stress levels. Visualize positive outcomes.
• You have three options when dealing with toxic people: 1) Eliminate them from your life. 2) Limit your contact with them. 3) Confront them. But don't let them dictate your mood.

I wish you all the best of luck as tax season officially begins!  And as Pooh instructs us, remember to not underestimate the value of doing nothing, even if it is for 5 minutes a day.

 Election Results

Congratulations to the newly elected and continuing Board of Directors.

Newly elected:

Joshua McIntyre, President elect 

Jason Bontrager, Treasurer

Kara Moore, Secretary

Irina Morozova, Director

Steven Pence, Director

Lisa Turner, Director

Continuing their term for 2014-2015

Lance Bodeen, President

Amy Cooper, Past President

Chris Houde, Director

Therese Sharp, Director

Also, congratulations to Bethe Davis who was elected to serve as a director of the Hagelbarger Memorial Scholarship Fund.

February Newsletter Article

Rita De La Torre

It is hard to believe the first month of tax season is already over.  Time does fly during tax season as the days get longer and the deadlines get closer.

As most of our CPE instructors comment "You are a friendly bunch of folks", consider the annual meeting a chance to get together with friends, remember the past and discuss where we are going in the future.  Those of you who attended the annual meeting in Fairbanks last year will remember the great weather, timely CPE, and fun with friends.  Thanks to the Fairbanks CPA firms and the UAF student organization for their participation in hosting our 2013 annual meeting.

Mark your calendar to attend the 2014 annual meeting in Talkeetna May 28-30.  This is a perfect time to plan a family trip to Denali Park for the Memorial Day weekend before the event or after the event.  We are planning a great celebration of our 60 year anniversary which will include a reminiscence of the past and a look toward our future.  We will begin May 28 with a town hall meeting with AICPA Chairman, Bill Balhoff.  Here is a chance to express your views to the AICPA on a topic of your choice.  Bill will remain with us throughout the meeting so take advantage of this chance to learn about the AICPA, the issues considered critical at the national and international level and voice your concerns about how decisions at the national level will affect your practice and your clients.

We have contacted most member firms and hope you will consider preparing a history of your firm for our "Walk Down Memory Lane".  There are many sole proprietors in Alaska and you may be thinking you are off the hook.  You do not get off so easy.  A large portion of the AKCPA membership is made up of sole proprietors.  Be creative and tell your story of where you began and what you are doing now.  Many of you are involved in AKCPA committees and board activities, teach classes, and practice in specialty areas.  Your presentation may inspire another CPA to take the plunge and open their own practice or become more involved in professional activities.

The registration for the annual meeting will begin soon.  Take a break from the busy season and sign up.  Hope to see you there.

CPE Changes for 2014

By Jacque Briskey, CPA Chair

The CPE committee did an informal survey of members last year to learn how AKCPA can be more responsive to the needs of the members and still offer quality CPE at an affordable price.  It is no secret that AKCPA is experiencing a budget shortfall, and changes had to be made.  The CPE Committee tried to keep both of these things in mind when we selected courses and proposed changes for the upcoming CPE year in 2014.

This is not a license renewal year for CPAs, and historically participation in courses is less in the non-renewal year.  Therefore, the committee reduced the number of live courses offered, but maintained the high quality instructors in response to what we heard from members in our survey.  In addition, for the past several years, AKCPA has offered webinars from various vendors through the AKCPA website.  Through the webcast providers, we also offer hundreds of online CPE courses, ranging from one hour courses to full day. The committee hopes that the large variety will satisfy the CPE needs of all our members.  Don’t forget to Login to the AKCPA site if you sign up for a webcast so we are sure to get credit.

The committee recommended increasing fees for the Season Pass to $1,350 which includes up to 6 full CPE days (up to 48 hours of CPE).  However we eliminated the registration deadline for the Season Pass.

We now also have CPE ticket books available.  Each ticket can be used for 8 hours of CPE.  The tickets are good only for the current CPE calendar year and must be used by the CPA firm or Company that purchases them exclusively for their employees.  They are not transferable outside the firm.  A book of 10 tickets is $2,500.  No other discounts apply, and they are non-refundable. 

The fee for an 8-hour course will remain at $295 for members (before discounts) and the non-member price for the 8-hour course is $445.

Last year, we increased the early registration discount to $50 per 8-hour course ($25 per 4-hour course) for registrations made by June 1 to encourage members to sign up earlier for classes.  Early registration helps us plan so we don’t hold classes that are not well attended.  In addition, registrations received less than 21 days from the course date will be charged a late fee of $50 for each 8 hour course and $25 for each 4 hour course.  This is a similar policy to what many airlines have for last-minute travelers.

All courses now come with e-manuals in PDF format.  E-manuals are included in the course fee.  Those who do not have an e-mail address or who want materials provided on paper have the option to purchase a book for an additional $20.  Paper manuals must be purchased prior to the day of the course.

The 2014 CPE schedule is now available on at www.AKCPA.org.  As always, the committee values your input on the types and levels of CPE courses offered, or on the CPE policies.