Search Results for: MARYLAND

Maryland Association of CPAs Outlines Crisis-Related Tax Guidance

An advisory group of the Maryland Association of CPAs (MACPA) has delivered to the state’s general assembly and comptroller’s office a series of tax-related recommendations related to the COVID-19 crisis.

The group’s whitepaper includes ideas for how Maryland might provide economic relief to help ease the ongoing financial burden for businesses and individuals, covering issues such as employer nexus and employee tax withholding, sales tax and admissions-and-amusement incentives, a compromise COVID-19 relief program, amnesty and extensions.

The group – consisting of CPAs David De Jong, Jeff Lawson, Karen Syrylo and Jim Wilhelm – also calls for the creation of a “Commission on Tax Policy, Reform and Fairness” tasked with identifying ways to make the state’s tax code more practical for the 21st century.

“Since the COVID-19 pandemic began, the Maryland Association of CPAs has been committed to providing its members, policymakers and business leaders with the information they need to make safe, socially responsible decisions,” says MACPA president and CEO Tom Hood. “Now our tax experts are joining the effort. Maryland CPAs with expertise in tax matters have curated their considerable knowledge to compile a list of issues that we believe should be considered by state tax officials.”

More news from the Maryland Association of CPAs

Maryland Association of CPAs Offers Reopening Guidance

Looking to help its members make sense of the many varied (and often contradictory) back-to-work requirements of federal, state and local agencies, the Maryland Association of CPAs (MACPA) has compiled a collection of best practices for organizations as they move toward reopening.

The MACPA document presents recommendations from health care, government and business experts as the generally accepted best advice available for how business leaders can safely return to work. Much of the guidance stems from work done by the Professional and Financial Services Recovery Advisory Group, whose recommendations include the following:

  • Maintaining physical distancing within the workplace
  • Requiring face coverings in public spaces of multi-tenant buildings
  • Minimizing the need to touch things as much as possible
  • Requiring 14-day self-quarantine for any employees with COVID-19 symptoms or a positive COVID-19 test
  • Providing appropriate signage or other communication methods to inform all persons using the facility regarding the information above
  • Providing sufficient cleaning supplies and handwashing facilities

“Reopening our businesses in this environment goes way beyond unlocking the door and turning on the lights. It’s a complex process that involves considerations in a number of areas, including health care, human resources, business strategy and risk management,” says MACPA president and CEO Tom Hood. “A number of agencies have released terrific guidance on how to protect our teams and organizations as we return to work. This document is an authoritative collection of what we believe is the best advice available.”

More news from the Maryland Association of CPAs

Maryland CPAs Share Pandemic Concerns in Virtual Town Hall

More than 400 CPAs attending a recent virtual town hall sponsored by the Maryland Association of CPAs (MACPA) expressed concerns ranging from counseling clients and understanding new laws and regulations to balancing the bottom line and helping their teams feel safe, productive and connected in the sudden shift to remote work amid the ongoing COVID-19 crisis.

The virtual meeting and professional issues update on March 30 took the place of MAPCA’s usual in-person spring events.

In addition to several common business-related challenges, attendees expressed concerns about issues impacting the country as a whole, including uncertainty about what will happen next, keeping those closest to us safe and healthy, work-life balance in an all-remote environment and questions about how long this will last.

By the numbers, some of their biggest concerns included the following:

  • A potential recession – 72%
  • The financial impact on their organizations – 59%
  • The impact on their workforces and a potential reduction in productivity – 45%
  • A decrease in consumer and business confidence – 39%
  • A lack of information with which to make good decisions or to help their clients – 44%

In addition, 65% of those polled expect a slight, moderate or significant decrease in revenue and profitability as a result of the crisis, while 25% weren’t sure what to expect.

MACPA has scheduled additional virtual professional issues updates on April 24, May 22 and June 30 to get ongoing pandemic-related feedback from its members.

“Our next challenge is to continue our advocacy efforts and to provide more resources to our members about the federal and state COVID-19 relief resources,” says MACPA president and CEO Tom Hood.

More news from the MACPA

Maryland CPAs Seek ‘Essential Business’ Designation During Shutdown

Maryland Gov. Lawrence Hogan this morning ordered all non-essential businesses in the state to close, but the Maryland Association of CPAs (MACPA) is asking Hogan to make an exception for CPAs.

Anticipating the shutdown, a March 21 letter to Hogan asked that the CPA profession be included on the list of essential critical infrastructure workforce exceptions.

Tom Hood

MACPA president and CEO Tom Hood requested the designation, which would allow public accountants to go to their physical offices as needed, while maintaining appropriate social distancing by staffing at less than 50% of office capacity. Hood’s argument notes that while many CPAs have implemented remote work, there are some critical functions that are required to be done in the office, including payroll and banking in secure systems, as well as processing mail with checks, invoices and other financial correspondence.

He further argues that CPAs are essential to the U.S. economy due to their work on compliance with federal and state tax and financial reporting requirements, the preparation of taxes, audits and financial reports for business financing and loans, and projections and contingency planning for businesses. And, since the financial services sector has been designated as one of 16 essential critical infrastructure areas by the U.S. Department of Homeland Security, MACPA believes CPAs should surely be included in that designation.

This is a fluid situation, so please check with your state societies for any updates.

Maryland Association of CPAs Names Four ‘Women to Watch’

Jill Gansler, Heather Latham, Maxene M.  Bardwell & Ebony Hypolite

Four outstanding business leaders have been honored by the Maryland Association of CPAs as Maryland’s “Women to Watch” for 2018. This year’s awards attracted 21 nominations.

Jill Gansler, CFO of Regional Management, Inc., and Heather Latham, director of accounting and finance for R&F Metals, Inc., have been honored in the “Experienced Leader” category.

Gansler has three decades of corporate finance, tax, governance and oversight; internal auditing; personnel administration; portfolio management; general accounting, and commercial lending. Latham served on the board for the MACPA’s Southern Maryland Chapter for 21 years, and helped implement mentoring programs in the local community to help new CPAs develop and increase interest in the community to become a CPA.

Meanwhile, Maxene M. Bardwell, director of internal audit at the Washington Suburban Sanitary Commission, and Ebony Hypolite, a manager in SC&H Group’s Business Performance Management consulting practice, have been honored in the “Emerging Leader” category.

Bardwell leads an audit team that saves the commission millions of dollars each fiscal year. She is an avid volunteer and ethics commissioner for the City of Laurel.

Hypolite helps organizations transform how they forecast and analyze results through technology implementations and process re-engineering. An alum of Stevenson University, she established the Ebony Hypolite ’06 Annual Scholarship for juniors and seniors.

Launched in 2014 by the AICPA, the awards highlight the accomplishments and contributions of women in the CPA profession and demonstrate to emerging female leaders that success is not out of reach.

“We are incredibly proud of this year’s winners – indeed, of all the leaders who were nominated for this year’s awards,” said MACPA Executive Director Tom Hood. “They represent the best this profession has to offer, and they serve as role models not only for other women in the profession, but for every accounting and finance professional on the planet.”

Bowling Named Chair of Maryland Association of CPAs’ Board

Samantha Bowling

Samantha Bowling, a partner at Garbelman Winslow CPAs of Upper Marlboro, Md., has been named chair of the Maryland Association of CPAs’ 2018-19 Board of Directors.

Bowling, an MACPA volunteer for more than 20 years, was elected on June 7 during the MACPA’s annual meeting in Bowie, Md. Her year-long term began on July 1.

Her plans for the upcoming year range from professional development to education to technology, all focused on her drive to continue to serve the interests of Maryland CPAs.

“My passion geared toward educating small firms and mentoring young accountants is central to the many issues that have serious implications for our profession,” she says. “My platform as chair is one of innovation. Exposing CPAs to the technology that’s available to them and making them aware of the possibilities is a huge part of the picture.”

MACPA

Joining Bowling on the 2018-19 MACPA Board of Directors are the following:

Vice Chair – Ray Speciale, Esq., CPA, associate professor, Mount St. Mary’s University

Secretary / Treasurer ­­­– Avonette Blanding, CPA, CFO, Maritime Applied Physics  Corporation

Immediate Past Chair – Ken Kelly, CPA, CGMA, consultant, KK Advisory

Director – Christine Aspell, CPA, Managing partner / audit partner, KPMG LLP, Baltimore

Director Mark Cissell, CPA, CEO, president, director, KatzAbosch

Director – Jeffrey Cook, CPA, CITP, CISA, principal, Coalfire Systems, Inc.

Director Leon Katsnelson, Director and CTO, Strategic Partnerships for Data Science, IBM

Director – Andrew Page, CPA, vice president / corporate controller, Under Armour

Director – Keith Parker, CPA, financial advisor, Morgan Stanley

Director – Karen T. Syrylo, CPA, owner, Karen T. Syrylo, CPA

Director – Denise K. West, CPA, CGMA, corporate controller and HR director, Insight Homes, Inc.

Maryland Association of CPAs and Business Learning Institute Launch Future-ready Podcast

The Maryland Association of CPAs and the Business Learning Institute (BLI) have launched a weekly podcast to make accounting and finance professionals more future-ready.

Titled “Future-Proof: A Podcast for Tomorrow’s Accounting and Finance Pros,” the show is hosted by MACPA and BLI chief communication officer Bill Sheridan and will feature interviews with forward-thinking futurists and thought leaders. They will offer updates on the latest trends to watch and, perhaps most important, answers to the question: How can this profession become future-ready?

“We’re on a mission,” Sheridan says. “For the past few years, [MACPA and BLI executive director] Tom Hood and I and the rest of the BLI’s team of future-focused thought leaders have been crossing the country, one speaking engagement at a time, in a bid to help accounting and finance professionals prepare for what’s ahead – to become future-ready. This podcast is the latest weapon in our profession’s future-ready arsenal.”

This brief trailer will tell you a little more about the podcast.

Maryland Firms Merge

Frederick, Md.-based LSWG has acquired WN CPAs of Rockville, Md., effective Jan. 1.

“The merger with WN CPAs further strengthens our presence in the Rockville area, and helps us diversify our services and client base,” says Kevin Hessler, co-managing principal, LSWG. “It’s also part of our strategic plan for growing our private practice.”

“We looked very carefully for a firm in the Rockville area whose culture for excellent client services matches our own, and one with service expertise that complements our own offerings,” says Barbara Roman, LSWG’s other co-managing principal. “We found the perfect partner in WN.”

“As a combined firm, we now offer a one-stop-shop approach with a full range of services to meet clients’ needs,” says Steven Weisman, partner at WN CPAs. “In addition, this move creates more development and growth opportunities for our staff members.”

Two CPAs Honored as Maryland’s ‘Women to Watch’ for 2017

Lisa Blackmore

Lisa Blackmore

Two outstanding business leaders have been honored by the Maryland Association of CPAs as Maryland’s “Women to Watch” for 2017.

Lisa Blackmore, a partner with Squire Lemkin + Company (FY16 net revenue of $6.3 million) of Rockville, Md., has been honored in the “Emerging Leader” category, while Faye Miller, a partner with Chicago-based RSM US (FY17 net revenue of $2 billion), has been honored in the “Experienced Leader” category.

Launched in 2014 by the AICPA, the awards highlight the accomplishments and contributions of women in the CPA profession and demonstrate to emerging female leaders that success is not out of reach.

“(Women) are leaders in our communities, homes and in business,” says Kimberly Ellison-Taylor, chair of the AICPA’s board of directors. “As leaders, we work hard every day to improve our credibility, capability and our commitment to excellence. Our nominees are an indication of that excellence. As women, we bring a rich perspective and mastery of success skills that are essential to every organization.”

Faye Miller

Faye Miller

“We are incredibly proud of this year’s winners – indeed, of all the leaders who were nominated for this year’s awards,” says MACPA Executive Director Tom Hood. “They represent the best this profession has to offer, and they serve as role models not only for other women in the profession, but for every accounting and finance professional on the planet.”

Blackmore was named partner at Squire Lemkin + Company in January 2015 and has developed a tax practice that focuses on individual and high-net-worth individuals and professional service firms.

Miller has 30 years of experience in public accounting, including client service and office managing partner roles. As a partner in the national office of RSM, she is a lead subject matter expert on complex financial instruments and is charged with identifying and developing talent, publishing accounting guides and white papers, speaking as a firm expert at conferences and on webcasts, and developing and presenting internal training.

Maryland Governor Honors AICPA Chairman

Kimberly Ellison-Taylor

Kimberly Ellison-Taylor

Maryland Association of CPAs (MACPA) member Kimberly Ellison-Taylor, a Baltimore native, is the first state resident to serve as chair of the AICPA and the first minority to lead the AICPA board of directors.

To recognize her accomplishments and service to the country’s CPAs, Maryland Gov. Larry Hogan has issued a proclamation, which was presented to Ellison-Taylor by state Sen. Brian Feldman, himself a CPA, during the MACPA’s annual “CPA Day in Annapolis” advocacy event Jan. 26. Ellison-Taylor also was recognized later that day by Maryland’s full House and Senate.

The proclamation is a “well-deserved tribute” in honor of the “leadership, success and outstanding service” Ellison-Taylor has demonstrated throughout her professional career and as a CPA volunteer.

“I am honored and humbled to have received Gov. Hogan’s citation,” says Ellison-Taylor, who serves as Oracle’s global accounting strategy director. “My name is on the citation, but I believe it is a recognition for all Maryland CPAs and an indication of the MACPA’s commitment to leadership development.”

Ellison-Taylor was an early member of the MACPA’s New / Young Professionals Network (now the Young Professional Council) and served as chairman of the MACPA’s 2010-11 board of directors.

“The governor’s citation is not only a high honor for Kimberly; it’s a recognition of the quality of our membership and the significant role that CPAs play in our state and national economies,” said MACPA Executive Director Tom Hood. “The MACPA team couldn’t be prouder of the work Kimberly continues to do on behalf of CPAs everywhere.”