Public Accountants Society of Colorado
Volume 2014, Issue 4
In Memory ………………. 6-7
November 2014—January 2015
2014 NCPE 1040 Seminar … 9
PASC MembershipForm ……… 11
The Professional Public Accountant
PRESIDENT’S POST
Newsletter
By Mark Ver Steegt EA.PA, PASC President
Since our last newsletter we have had the misfortune of losing 2
of the pillars of the Public Accountants Society of Colorado. We
lost past President Robert (Bob) Cross and our past Executive
Director Jack Dirksen. Both of these men were instrumental in
the strength and growth of our society. Their contributions to
our society are too numerous to mention, but it is easy to say
that they both will definitely be missed.
We attended the NSA convention in Baltimore; it was very interesting and informative.
The Public Accountants Society of Colorado received several awards and recognitions:
1. The Keith Billings Memorial Award (small market) for the ASO newsletter.
2. The Best ASO Website award (small market).
3. The Accountancy Board Monitoring Award for our work with the State.
Special points of interest:
> The Professional Public Accountant Newsletter is published 4 times a year. Scheduled
publications are February, May,
August, October. Article and
advertising submissions are due
Jan 10, April 20, June 10 & Oct 1.
> Opinions expressed herein are
not necessarily those of the
PASC Board of Governors or the
Society.
> Articles, Advertisements, Pictures, Comments and Suggestions should be sent to the editor, Lynette DL Myers, PO Box
1078 Eastlake, CO 80614-1078 or
via email [email protected]
> Published by and for the Members of the Public Accountants
Society of Colorado
Bob Kuziak and Matt Lewis received recognition for the work they do for NSA.
Not much else to report on at this time. It has been a long tax season that is still
dragging on. Hope to receive information needed soon to finish up some late returns and it sounds like I am not the only one. Of course we are all looking forward
to the upcoming filing season and Affordable Care reporting!!!!!
Hope everyone has an enjoyable and blessed holiday season and Santa brings you
everything you asked for.
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Our prices are online now.
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www.coloradoaccountant.org
and view the ADVERTISE
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EXECUTIVE DIRECTOR’S CORNER
INSIDE THIS ISSUE
By Greg Williams
President’s Post ……………….……..... 1
Executive Director’s Corner ….…….… 2
Meet a Member ....….......................……2
Welcome New Members to PASC....…. 3
In Memory—Jack Dirksen.……………..4
In Memory—Robert Cross.……………..4
2015 PASC Seminar Schedule …............6
NCPE 1040 Form .…………..………… 7
It’s Time To Raise Your Rates! ………..8
PASC Membership Form ..………........11
Seminar Dates ……………………..…. 12
Officers & Directors …………………..12
WELCOME TO PASC
Emails are included so you can reach out and welcome them.
Janell D. Bell, RTRP
Pro Accounting & Tax Services
Castle Rock, CO 80108
[email protected]
Sheldon Brown, CPA
Sheldon I. Brown, CPA, LLC
Littleton, CO 80123
[email protected]
Neil Herzog, CPA
Denver, CO 89220
[email protected]
Michael Langton
Langton and Langton Accounting
Arvada, CO 80005
[email protected]
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PASC received some very special awards at
the National Society of Accountants 69th Annual Meeting in Baltimore, Maryland this fall.
We received the “BEST AS Website” award
for website appearance, content and usability.
We also received the “Keith Billings Memorial Award” for the most outstanding ASO
publication (our newsletter) based on content,
coverage of activities, timeliness of articles, newsletter format,
and overall appearance. Both awards were in the category of
ASO with fewer than 350 members.
PASC received an award for “Best State Board Monitoring”
thanks to the tireless efforts of Leota Jensen and Andy Morehead. PASC members Matthew Lewis and Robert Kuziak also
received special award certificates for their leadership roles in
NSA.
Several changes have been made to the main page of the website
as a result of discussions at the August Board Meeting. The
“Find and Accountant” quick search feature has been greatly enhanced, and hopefully this will help potential new clients find
PASC members. We have also added news updates to the main
page and incorporated a classified advertising feature; both are in
the “Recent Announcements” section. For more information on
posting a position announcement contact me at
[email protected].
(Continued on page 6)
Carol L. March, CPA
Carol March and Associates, PC
Boulder, CO 80302
[email protected]
Janice Moore
Janice Moore Tax & Bookkeeping
Service
Fruita, CO 81521
[email protected]
Angela R. Murphy, CPA
Chadwick, Steinkirchner, Davis &
Co., P.C.
Grand Junction, CO 81501
[email protected]
Dennis Oberhelman CPA
Evans, CO 80620
[email protected]
MEET A MEMBER: MIKE LANGTON
Although I received my accounting
degree from Michigan State University, I am a second generation Denver native. After graduation in 1968,
I went to work for Arthur Andersen
in the Denver office. I was part of
the audit team and worked four years
primarily auditing public oil & gas
companies. I attached an old resume’ so you can see the various
companies I have been associated
with during the last 40+ years. In
addition to the CPA and real estate
licenses, at one time or another I
held a 6 & 63 securities license and
an insurance license.
Currently,
none of these licenses are active.
Paying for college is never easy. But the
National Society of Accountants (NSA)
Scholarship Foundation has made it
easier by offering scholarships to promising accounting students across the
country. The Foundation awards scholarships to undergraduates who are U.S. or
Canadian citizens enrolled part-time or full-time in a degree program at an accredited two- or four-year college
or university in the United States.
Applicants for awards are judged on the basis of academic record, demonstrated leadership, and participation
in school and community activities, honors, work experience, statement of goals and aspirations, and an outside appraisal. They must have a “B” (3.0 on a 4.0 scale) or better grade point average.
Scholarship award amounts range from $500-$2,000, depending on available funding at the time of the
awards.
Last year the NSA Scholarship Foundation awarded 32 scholarships totaling $30,000 to worthy recipients
from across the country.
I am currently part of the Sage accounting network which deals with
anyone using Sage 50 software
(Peachtree) and my office is in the
home. In addition, I have an LLC
which buys property tax certificates
from counties.
I am married and my wife is a former CPA who is currently the chief
accounting officer for Breckenridge
Brewery. We have four grown children and five grandchildren.
The National Society of Accountants (NSA) Scholarship Foundation has provided more than $1 million since
1969 to deserving undergraduate and graduate students who are committed to pursuing a career in accounting,
helping to develop more qualified young accountants.
Additional information and scholarship guidelines can be found online at
http://sms.scholarshipamerica.org/nsacct.
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Submit your classified ad today. If you are a member, you get up to 50 words FREE. NonMembers cost is $40 for 50 words. Check out our classified information online, just click on
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IN MEMORY OF JACK DIRKSEN
Jack was a remarkable person
who combined a successful public accounting practice with a
continuing commitment to public
service and the betterment of the
accounting profession.
His many years of service to the
Public Accountants Society of
Colorado included his stints as
President and years of service on
the board. When PASC encountered a period of turmoil
during the late 1980’s and early 1990’s that included
legislative and court challenges and a need to reorganize
its management arrangements and restore the CPE program to profitability, it was Jack who stepped in to provide the management skills needed and executive direction to our efforts. This was a role he would play for the
next 20 years, and the Society’s growth and solid financial position is in great part due to his efforts.
As a member of the Colorado State Board of Accountancy for two terms, he was a quiet but most effective
presence on the Board who always presented practical
solutions for the problems facing both licensed and unlicensed accountants. In doing so he won the respect of
his peers and established working relationships that have
enabled the Society to avoid the controversy that marked
some of the earlier years.
A genial man of strong intellect and quick wit, for many
of us he was a colleague, a friend and a mentor.
He will be missed.
Andrew T. Morehead, Past President
June 9, 1926 - September 25, 2014
He was the youngest son of Edwin and Gladys Dirksen.
He is survived by his daughter Cheryl Dirksen, daughter
Gwen Rodenbaugh (Pat), son Darrell Dirksen (Nancie),
grandson Dillon Rodenbaugh and great granddaughter
Kailyn Rodenbaugh.
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Memorial services were held October 2, 2014 at
Northglenn United Church of Christ in Northglenn,
Colorado. Memorial gifts may be sent to The American Lung Association or the Northglenn United
Church of Christ.
Jack Dirksen was the retired Executive Director of the
Public Accountants Society of Colorado and a former president of PASC.
He served PASC for over
two decades with distinction and honor.
Cards can be sent to:
Lois Dirksen
3303 E 123rd Ave
Thornton, CO 80241
ROBERT CROSS
October 11, 1941 -August 31,
2014
Robert Cross was born in
Wheatland on Oct. 11, 1941.
His parents were Jay and Katherine (Thompson) Cross of Masonville, Colo. He attended
school there until his sophomore
year in high school, but then moved to Masonville to
help with the family ranch and graduated high school
in Loveland, Colo. He attended Colorado State University for two years and then was drafted and served
in the Army and National Guard. During this time he
owned his own business where he worked in real estate and was an auctioneer.
He married Deanna Snell Cross May 17, 1980 in Evergreen, Colo. They worked together in business and
accounting. He loved all animals, especially kittens
and enjoyed riding horses. He was a cowboy at heart
and his last horseback ride at the Flying X Ranch was
July 27 when he started having symptoms of an unknown brain tumor and passed away August 31.Robert
is survived by his wife, Deanna Cross, his daughters,
Elizabeth (Josh) Rosen and their two daughters of Fort
Collins, Colo., Jennifer (George Salzman) Cross and
their two sons of Masonville, Colo.; and his sister, Evelyn Hopper of Gering, Neb.
Memorials should be sent to PAWS at P.O. Box1501,
Wheatland, WY 82201.
Brief Biography
Bob began his accounting career as a computer programmer creating customized application software for
small business. When an international publishing company purchased the firm where he had risen to the position of Manager of Information
Technology, he decided to leave the corporate world and
join his wife, Deanna, in the public accounting practice
she had established in 1974. One of their strategies was
to provide specialized management reports that were not
included with the standard accounting packages available to small businesses.
Bob served the National Society of Accountants (NSA) as President for 2009
- 2010. Prior to becoming an officer of NSA,
he served for three years as Administrative
Chair for the Right To Practice Committee.
During those years, Bob offered testimony to
Congress and represented NSA at other state
and federal agencies. Bob has also served
many times, including this year, as an NSA
featured speaker at the IRS Nationwide Tax
Forums where he addresses several thousand
tax and accounting practitioners annually.
Bob has also presented webinars on behalf of
NSA and regularly speaks to other accounting
societies and small business groups. NSA honored Bob with its Accountant of the Year
5
Award (2005), Distinguished Service Award (2006) and
a National Editorial Award a few years earlier. In 2007,
NSA President
Robert H. Fukuhara honored him with a commemorative Samurai Sword to honor the “warrior spirit” with
which he represented NSA’s Right To Practice initiatives.
Bob was driven by a passionate sense that "helping each
other find success" is a fundamental principle that
should guide all professional organizations. Bob was a
former President of the Public Accountants Society of
Colorado and served the organization with distinction in
many ways.
Cards can be sent to:
Deanna Cross
PO Box 98
Wheatland, WY 82201
2015 PASC SEMINAR SCHEDULE
The 2015 Seminar Schedule for National Center for Professional Education courses has been finalized. The courses, dates,
and locations are listed below and will be posted on the PASC website after the end of the 2014 Seminar season. Additional
seminars and events may be added.
NCPE Corporations, Partnerships & LLC’s Workshop
September 17-18, 2015 (Thursday/Friday) – Colorado Springs
September 17-18, 2015 (Thursday/Friday) – North Denver
NCPE 1040 Individual Tax Workshop
October 29-30, 2015 (Thursday/Friday) – Durango
October 29-30, 2015 (Thursday/Friday) – Grand Junction
November 16-17, 2015 (Monday/Tuesday) – Colorado Springs
November 17-18, 2015 (Tuesday/Wednesday) – Southeast Denver
December 16-17, 2015 (Wednesday/Thursday) – North Denver
PLACE YOUR AD HERE !!!
Our prices are online now.
Go to: www.coloradoaccountant.org and view the ADVERTISE link. Send
the copy and artwork to Lynette Myers.
Newslettereditor @coloradoaccountant.org
(Executive Director Corner Continued from page 2)
PASC recently joined with Fast Forward Academy and Gleim
Accounting to make their online AFSP courses available to PASC
members with just one mouse click. Links to both courses are on
the main page of the PASC website.
Congratulations go to the Mile High Chapter for a successful IRS
Update seminar that was held in Denver on October 2, 2014.
There were 143 attendees at the event and the chapter had initially
hoped for 100. Great job Mile High Chapter.
Sadly, PASC lost two key movers and shakers this fall. Former
president Bob Cross and former executive director Jack Dirksen
both passed away. Their obituaries are included in this edition of
the newsletter. They will be sorely missed.
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77
IT’S TIME TO RAISE YOUR RATES!
By Chip Murphy
With the Affordable Care Act (ACA) in full swing and
with 2015 coming and a stack of new rules that will
affect you and your clients. You will be busier with
the new penalties and required documentation and filings.
First let’s address the open enrollment dates for individuals buying their own health insurance for 2015.
Connect for Health Colorado (C4HCO) will be open
to view plans on 10/15/2014, you can purchase plans
11/15/2014 until 02/15/2015, without occurring a penalty, the penalty applies if you have been without coverage for more than 90 days. The rest of the year, you
can purchase only if you have a life changing event.
This is where your expertise will come into play. I’ll
offer a few scenarios on what and will happen.
First client; has all their tax info to you by 1/31/15
(that happens a lot). They purchased an ACA qualified health plan through myself and run through
C4HCO to get the subsidy but they made more than
expected. The subsidy they received was higher than
they should have received, that now will be deducted
from the refund they were expecting.
Second client; single healthy male has all his tax information to you by 3/25/15 (more realistic). Did not purchase health insurance, no need he’s healthy and invincible. You’re the one who will relay the penalty he
has occurred for 2014 and that he has passed the deadline to purchase coverage for 2015 and the penalty will
be larger.
Third client, Family very conservative, sent you all tax
info by 4/1/15, received a subsidy but their income
was lower than anticipated, no bonus this year. This
client has over paid premium and will receive a larger
than expected refund.
All your clients are unique in their own way; you will
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come across many more examples. You may be the
bearer of both good and bad news.
The penalties for 2014
The greater of 1% of taxable income or $95 per adult
and $47.50 per child, maximum family penalty of
$285.
The penalties for 2015
The greater of 2% of taxable income or $325 per adult
(Continued on page 9)
Are YOU Ready for the Affordable Care Act? We
ARE, let us help you make the best informed decision. The time for health insurance open enrollment
is now, let us guide you. As always our services
come to you at ZERO COST.
Chip Murphy & Kelsey Murphy Mackley
Kelmeg & Associates, Inc
303-466-9575
www.kelmeg.com
[email protected] [email protected]
Health Insurance Exchange Consultants
& Market Place Navigators
Employee Benefits, Individual & Family,
and Medicare
(Continued from page 8)
employee.
and $162.50 per child, maximum family penalty of
$975.
For those working in the small group market, 2 to
50 employees, there are no penalties associated with
the ACA. This size group can purchase plans through
C4HCO, we can advise which is best. The less than 25
employee group may qualify for tax credits; we can
also advise if this is a viable way of purchasing. This
size company can still offer plans to the employees,
they still must meet eligibility requirements, 70% of
eligible must participate in the plan and the employer
must pay a portion of the premium to qualify. EXCEPT BIG EXEMPTION during a special open enrollment period 11/15/14 to 12/15/14, at this window,
carriers do not look at eligibility or participation and
waive the portion the business will pay for the employee. This is for those groups they want group coverage but they will never get the 70% participation,
due to the cost the employees would have to pay and it
was unaffordable. So the owners and higher paid people in the company had to purchase individual plans
on their own. Now they may run the insurance through
the business and let the business write the check. Before when individual premiums were much lower it
was not too much of an issue. Now when individual
rates are at levels of the group plan rates this is an attractive option.
The Penalties for 2016
The greater of 2.5% of taxable income or $695 per
adult and $347.50 per child, maximum family penalty
of $2085
As you can see it will take a larger bite out of the refund in the coming years.
Folks that purchased plans through C4HCO will be
receiving a form that states, premium paid, subsidy
received and length of time insured.
For you that work with the larger companies, 50+
and 100+ employee groups will be using new forms
for reporting.
50+ 1094C is used to report to the IRS summary information for the employer and transmit form 1095C to
the IRS, is used to report information about each applicable employee.
100+ employee groups will also use 1094C and 1095C
those rules have not been finalized but will be soon.
Starting in 1/1/2015 100+ employee companies must
offer health coverage to their employees and it must be
affordable or face a penalty. In 2016 the 50 to 100 employee groups must comply or face the same penalties.
An employee cannot have more than a 90 day waiting
period to be eligible for the group plan and if they
work a minimum of 30 hours a week they are considered a full time employee. If a company 100+ does not
offer coverage that company would be liable for a
$2000 penalty per employee. If that same type company does not offer an affordable plan, which means
the employee’s part of the premium is more than 9.5%
of their income, they will face a penalty of $3000 per
99
If any of you need more information on the ACA for
individuals or businesses feel free to contact me. We
are fully certified with Connect for Health Colorado
and recognized as one of their top agencies. Have a
great 2014 and 2015.
PLACE YOUR AD HERE !!!
Our prices are online now.
Go to: www.coloradoaccountant.org and view the ADVERTISE
link. Send the copy and artwork to Lynette Myers.
Newslettereditor @coloradoaccountant.org
10
11
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Contact PASC at:
P.O. Box 1078
Eastlake, CO. 80614-1078
Web: www.coloradoaccountant.org
Email: [email protected]
Phone: 303-452-8227
Toll Free: 800-578-4451
Fax: 303-457-0770
The Professional Public
Accountant
A D D R E S S
View the electronic version of
The Professional Public
Accountant on the PASC Web site:
www.coloradoaccountant.org
Articles for The Professional Public
Accountant Newsletter are welcomed
and encouraged.
To submit, please e-mail
newslettereditor@
coloradoaccountant.org
SEMINAR DATES 2014 DATES AND SPEAKERS ARE SUBJECT TO CHANGE.
Individual Income Tax Update - 1040– 16 hours CPE
• Durango
Nov. 3-4, 2014
Mon.-Tues.
• Grand Junction
Nov. 5-6, 2014
Wed.-Thurs.
• Southeast Denver
Nov. 19-20, 2014
Wed.-Thurs.
• Colorado Springs
Dec. 15-16, 2014
Mon.-Tues.
• North Denver
Dec. 16-17, 2014
Tues.-Wed.
www.coloradoaccountant.org
* 800-578-4451*
[email protected]
2015 Newsletter Production Schedule
Issue 1
Issue 2
Issue 3
Issue 4
Spring
Summer
Fall
Winter
Content Due
1 Feb
1 May
1 Aug
1 Nov
Publish Date
1 March
1 June
1 Sep
1 Dec
Notes: Issue 2 will include the Convention Schedule
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PASC OFFICERS & DIRECTORS
PASC Officers
President—Mark Ver Steegt, PA, EA
Office Telephone (719) 372-6146
[email protected]
President Elect—Corrin E. Campbell, PA, CFP
Office Telephone (303) 440-3556
[email protected]
Secretary—Dale Lukenbach, CFP, PA, ARA
Office Telephone (303) 671-6114
[email protected]
Treasurer - Linda Abrahamsen, MBA, EA
Office Telephone 303-989-6974
[email protected]
Executive Director - Greg Williams
Office Telephone (303) 478-0321
[email protected]
NSA State Director - Robert D. Kuziak, PA, ATP, ARA
Office Telephone (303) 364-0400
[email protected]
Directors
Richard Deem, PA
Office Telephone (303) 426-7414
[email protected]
Helen Jackson, PA, EA
Office Telephone (719) 260-0320, ext 3
[email protected]
Leota Jensen, ATP, PA, RTRP, ARA
Office Telephone (303) 841-4544
[email protected]
Andy Medina, PA
Office Telephone (303) 682-0176
[email protected]