Kristen Stogniew to Speak at Tampa Financial Institution Seminars

Saltmarsh Shareholder, Kristen Stogniew, will be speaking at two upcoming seminars in the Tampa Bay area. On April 17, she will present "The Dodd Frank Act and Community Bank Compliance for 2012" to the Central Florida Compliance Association.  In addition, she will present two Bank Secrecy Act related topics at this year's ACFE Tampa Chapter's Fraud & Computer Crimes Seminar.  More information about the events can be found below.

About the Speaker: Kristen is a Shareholder in the Financial Institution Advisory Group at Saltmarsh, Cleaveland & Gund. She has been providing legal advice and audit services in regulatory compliance and banking operations since 1995. At Saltmarsh, she continues to provide risk management, policy and procedure drafting, compliance audit and monitoring, and related consulting in areas such as BSA, Loan and Deposit Compliance, Marketing and Retail Delivery, Trust, Governance, and ACH. Kristen also provides one-on-one mentoring and customized training to staff, management and Bank Directorate. Kristen is a Member of the Florida Bar and is an Accredited ACH Professional.

Central Florida Compliance Association
"Dodd Frank for 2012"
April 17, 2012
8:15-9:45 a.m.
Commerce National Bank & Trust
1201 South Orlando Avenue, Suite 100
Winter Park, Florida 32789


ACFE Tampa Chapter
13th Annual Fraud & Computer Crimes Seminar
May 10th & 11th, 2012
Marriott Tampa Westshore
1001 North Westshore Blvd
Tampa, FL 33607

Thursday, May 11th, 2012 (RSVP by April 13th)
8:30 – 9:20 a.m.
Topic Title: "Anti-Money Laundering Systems Data Validation"
Topic Summary: Financial institutions are finding that they can no longer rely solely on their AML system vendor’s setup processes and standard report packages. Regulators are asking for independent validation that the system accurately captures transactions, and that its filters and monitoring reports are appropriate for the specific institution. This session will guide you on performing and documenting that validation.

9:30 – 10:20 a.m.
Topic Title: "10 Steps to a Better Bank Secrecy Act Compliance Program"
Topic Summary: A discussion of current BSA enforcement and money laundering trends, and simple steps you can take to ensure your program measures up.

It's Mardi Gras!

The Saltmarsh "Krewe" wishes you a very Happy Fat Tuesday!  Let the Good Times Roll!

Ted Gund is decked out in his Mardi Gras best to celebrate!

 

Meet Caroline!

On February 14th, 2012, Ron Jackson welcomed a new granddaughter!  Caroline Rae Jackson was born at 9:05 p.m., weighing 7 pounds, 3 ounces and was 19 inches long. 

Congratulations to the Jackson family on this joyus occasion from the entire Saltmarsh family!

Ron Jackson with his new granddaughter, Caroline.

Suzanne Cox Featured on Tampa's Fox 13

Suzanne Cox, CPA, was recently featured in a news story on Tampa's Fox 13 about stolen tax returns.

During the interview, she talks about being a victim herself, and gives tips on how to recognize when fradulent activity is happening to you.

View the video on our website at www.saltmarshcpa.com/cpa-news

Saltmarsh offers March Training Classes with Solvability, Inc.

Government Contract Accounting Made Easy

March 6, 2012 from 1:00 p.m. – 4:00 p.m.

Saltmarsh, Cleaveland & Gund

34 Walter Martin Road, Fort Walton Beach, FL  32549

Meet the expert! Miriam H. Ezell, CPA with Solvability, Inc. brings over 20 years of government contract accounting experience. She teaches, trains and gives you peace of mind as you learn the Government Cost Accounting Language and Practices.

Join us for this fun overview of government contract cost accounting which includes terms and methods in an overview of DCAA Information for Government Contractors. Learn how to calculate indirect rates, what makes up unallowable costs, how to set up a chart of accounts for compliance, what to use for indirect rates in your proposal when you have no historical rates.

This is a great place to start for the beginner Government Contractor or as a refresher course.

Cost: $55.00 per person

Register Now:  http://gcmeflorida.eventbrite.com/

DCAA Compliant QuickBooks

March 7, 2012 from 9:00 a.m. – 4:00 p.m.

Saltmarsh, Cleaveland & Gund

34 Walter Martin Road, Fort Walton Beach, FL 32549

Meet the expert! Miriam H. Ezell, CPA with Solvability, Inc. is a Quick Books Pro Advisor with over 20 years of Government Cost Accounting experience.

If you want to do business with the federal government, you have to understand their government accounting language. Learn how to structure your existing data in Quick Books to be DCAA compliant, starting with the Chart of Accounts numbering and tiers. Class will cover required system settings for Customers & Jobs, Employee data, Service Items and Payroll items. You will learn the business rules required to code transactions correctly within Time Tracking, recording Bills and creating Invoices. Using these rules and settings will enable you to correctly report cost and revenue by month. This class reviews indirect rates from the Income statement and includes processing steps for monthly financial reporting. This class is targeted for accountants who are experienced Quick Books users.**Approved for 8 CPE hours**

End of class will be time of questions and answers regarding DCAA compliance issues.

Laptop required for participation.

Class is limited to 6 people for an informal setting and one-on-one guidance.

Cost: $395.00 per person

To Register: http://qbflorida.eventbrite.com/

Larrieu, Smith Named Pensacola Rising Stars

Congratulations to Robin Larrieu and Justin Smith for being named to the Pensacola Independent News Rising Stars 2012 list!  The Rising Stars program has been honoring leaders under the age of 35 in Pensacola since 2008.  To be chosen as a Rising star, one must be seen as an upcoming leader in his or her profession within our community.

Read more about the 2012 Pensacola Rising Stars.

Saltmarsh is proud of Robin and Justin!  Congratulations from the entire Saltmarsh team!

Robin Larrieu is the Network Engineer in the Information Technology Services Department of Saltmarsh, Cleaveland & Gund. Coming from a large ISP she joined the firm in June 2006 and began her career in 2003.

Her experience includes computer networking and technology consulting. Robin is a Microsoft Certified Desktop Support Technician.

Justin Smith is a Senior in the Tax & Accounting Services Department of Saltmarsh, Cleaveland & Gund. He has been practicing public accounting since 2006.

Justin’s area of expertise includes corporate and individual tax specializing in construction contractors, homeowner’s associations and non-profit organizations.

Bill Massey Quoted in American Banker

Bill Massey, CPA, Shareholder, has been quoted in the latest edition of American Banker and on AmericanBanker.com in an article focusing on rebuilding Florida's community banks.   

To read Bill's quote and the article in its entirety, please click on the link below. The article is on the second page of the document.

Fla. Regulator Intends to Help State's Banks Rebuild

Saltmarsh Announces 2012 Promotions

Please join us in congratulating the following individuals who have been promoted as of January 1, 2012:

Suzanne Cox, CPA has been promoted to Senior Manager in the Audit Department of the Tampa office of Saltmarsh, Cleaveland & Gund. Suzanne has been practicing in this field since 2003,  and her experience includes audit, accounting, taxation and consulting services. Her areas of expertise include development, construction and manufacturing companies. Prior to working in public accounting Suzanne worked as an Information Systems Consultant for a private accounting software firm.

Cedric Durre has been promoted to Manager in the Information Technology Services Department of Saltmarsh, Cleaveland & Gund. He has been practicing in this field since 2001, and his experience includes networking and information technology. He also has experience working in internet service provider infrastructure and datacenter environments.

Lisa Goodwin, CPA has been promoted to Senior in Audit Department of the Fort Walton Beach office of Saltmarsh, Cleveland & Gund and provides audit and assurance services to clients. She joined the firm in October 2008 and her areas of concentration include non-profit, governmental, condominiums, and homeowners’ associations.

Alexandria O'Brien has been promoted to Senior in the Audit Department of the Tampa office of Saltmarsh, Cleaveland & Gund. Since joining Saltmarsh in 2008, she has worked in our accounting and audit department serving our financial institution clients, private companies and nonprofit organizations.

Legislative Alert - Update on IRS Form 1099 and Other Payment Returns

Background

An information return is a tax document businesses are required to file to report certain business transactions to the Internal Revenue Service (IRS). The requirement to file Information Returns is mandated by the Internal Revenue Service and associated regulations.

Any person, including a corporation, partnership, individual, estate, and trust, who engages in reportable transactions during the calendar year must file information returns to report those transactions to the IRS. Persons required to file Information Returns to the IRS generally must also furnish statements to the recipients of the income. Filers of 250 or more such returns must file these returns electronically with IRS.

Key Developments & Observations

• Earlier in 2011, previously expanded Form 1099 rules – that were originally passed as a component of the Patient Protection and Affordable Care Act of 2010 – were repealed. If the rules had not been repealed, effective for payments made after December 31, 2011, the general requirement for information reporting by all persons engaged in a trade or business who make payments in any tax year aggregating $600 or more to a single payee would be expanded to include payments made to a corporation (but not payments to a tax exempt corporation). Additionally, the class of payments for which reporting is required would be expanded to include all amounts paid in consideration for property, and other gross proceeds for both property and services.
• Starting January 1, 2011, brokers required to file Form 1099-B regarding a covered security must also report the customer’s adjusted basis in the security and whether any gain or loss with respect to the security is long term or short term.

• An entity should use Form W-9 to request the taxpayer identification number of a U.S. person (including a resident alien) who will receive an information return.

• An entity should use the appropriate Form W-8 for foreign persons who will receive an information return.

For more information or to ask questions about this legislative alert, contact one of our tax and accounting advisors at 800-488-7458, or visit our website to learn more.
© 2011 EisnerAmper LLP

This publication is intended to provide general information to our friends. It does not constitute accounting, tax, or legal advice; nor is it intended to convey a thorough treatment of the subject matter.

Jim Speed Retirement

This week, Saltmarsh celebrated the retirement of Jim Speed.  Jim spent more than 30 years of his public accounting career at Saltmarsh and spent a portion of his time here as the shareholder in charge of retirement plan accounts, profit sharing plans and flexible medical and dependent care spending accounts.

We surprised Jim with a reception in the community room and a slide show of images of him at the firm through the years.  We are grateful for Jim's commitment to the firm and we wish him a very happy retirement!

From right: Jim Speed with Ron Jackson.



The cake was delicious!  So much so, we didn't get a photo before it was eaten!