CPA Practice Advisor

40UNDER40 2011

Today's Technology for Tomorrow's Firm.

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Dominique Molina, CPA, CTC — 36 President, The American Institute of Certified Tax Coaches San Diego, California Blog URL: www.certifiedtaxcoach.org Twitter ID: twitter.com/CertTaxCoach Education: San Diego State University, Bachelor of Science Degree in Business Administration with emphasis in Accounting Professional Associations/Memberships: AICPA, AICTC, California Society of CPAs, NATP Hobbies: Reading, Tennis, Surfing, Boating, Family Do you embrace cloud computing? Yes! We've suc- cessfully used cloud computing to provide access to our Certified Tax Coach toolbox for our members across the country. We also use hosted servers for all our organization software solutions and document storage. This provides easy, paperless access for our bi-coastal corporate offices in San Diego and Cincinnati to share documents. How is cloud computing changing the accounting profession, and how concerned are you with the security issues related to cloud computing? Cloud computing is paving the way for accounting professionals to increase efficiency and profit. It forces small business accountants to use systems for gathering, entering and reviewing data, which is often lacking in small accounting practices. Cloud computing greatly reduces the need for expensive hardware and technology service con- sultants. As a CPA, security is my number one concern in dealing with cloud computing. This places a higher level of importance on selecting the best service provider. I look for U.S.-based servers, backups, data centers and tech support, as well as providers who are SAS 70 certified. What are some ways your firm/business has gone "paperless" and/or "green" in the last two years? We've successfully used technology to aid in our effort to go green. Use of multiple monitors has enabled us to create and review documents without paper. Using cloud computing, our staff can create and review documents from anywhere, reducing the paper we used to take along while traveling for business. My latest book, "Extreme Staff Makeover," is available in paper- less version through Kindle on Amazon. As president of the organization, I drive an all-electric vehicle. This zero emission, zero gas vehicle runs on solar power and rechargeable batteries, and parts of the vehicle are made from recycled material. Using this vehicle for all my business miles, reduces our company carbon footprint by 9 tons per year. Making use of modern webcasting and webinar technology, we are able to provide ongoing continuing education and support to our members and accounting professionals across the country, completely eliminating the need for travel. This reduces our company carbon footprint by approximately 200 tons each year! Monitors on your desk? Three. What ONE piece of technology could you absolutely not live without? I hate to say it, but I am addicted to my smartphone. I can't imagine living without this important tool. Aside from helping me stay connected, I use my smartphone to make "found time" more effective. With my tool, I can be productive waiting in line, waiting for meetings to start, and sitting around the airport. Are you using social networking (such as Twitter, LinkedIn, Facebook, Google+) as a marketing tool for your business … or do you use such sites for personal use only? Yes! When properly used, social networking is a phenomenal tool for marketing an accounting business. The ability to use these mediums to reach highly targeted markets and receive instant feedback using performance indicators makes it an ideal method for connecting with your target audience and evaluating its effectiveness. I have not only gained clients, but have successfully used my knowledge of social media to help CTC members use it effectively to gain accounting clients. What pitfalls or what unwritten rules of social net- working etiquette exist, which are frequently missed by others in the profession? Most businesses fail to understand the overall strategy to connect using social media. It's common to see business owners posting blatant advertisements in their profile, status updates and group postings. When used effectively, social media mimics traditional networking. I use social media to meet new people, connect with groups, as well as seek and provide information on relevant topics. Using this medium as shameless promotion, spam or advertising violates the trust of others and goes against unspoken etiquette. Another "No-No" in my opinion: using social media only to further your own interests. Give as much as you get. After all, networking is a two-way street! Other than SMS on your cell phone, what is your favorite way to IM with your friends and family? I use Facebook primarily to keep in touch with my friends and family. FaceTime is also quite popular in my home. It helps us to stay connected with our loved ones and see our children grow up even though we may live far away. Cell phone: I use the Blackberry Torch. What is your favorite smartphone or tablet app? The Certified Tax Coach beta app is my favorite app. It helps me keep in touch with my network, provides instant access to tax research tools, and soon it will be available for my tax clients to submit and store tax records. What sports team/championship event do you absolutely refuse to miss? Being the mom of a little leaguer, I absolutely refuse to miss my son Andrew's ball games. This year was most exciting as my 9-year old made the championship games and hit a game- winning double during the playoffs. I can easily say I am his biggest fan and can be found most spring days down at the little league field cheering in the stands. NOT including your current employer, what company do you most admire and why? I most admire Google. Even though it is considered one of the fastest growing companies in the United States, Google has created its own unique culture. The company is committed to innovation, and while it continues to grow in leaps and bounds offering products and services, Google remains dedicated to its core vision, its small company feel and its belief in endless possibilities. Despite its responsi- bility to its shareholders, Google also focuses on clean energy efforts and philanthropy. What are some of your favorite books, movies, music, websites, and TV shows? Reading is one of my favorite hobbies. I love to play arm chair detective by reading true crime novels. I also enjoy other nonfiction. My current favorite is, "Three Cups of Tea," by Greg Mortenson. I'm a big fan of music. My iPod playlist features a huge variety of music; everything from the Gypsy Kings, Lionel Richie and Journey to Rascal Flatts, Adele, Eminem and Metallica. My favorite TV show is LOST. Many of the tax courses I teach include case study tax returns featuring characters from this program. Do you foresee the majority of firms still implementing servers for the majority of their computing in their offices five years from now or do you think they will be outsourcing this component to vendors who specialize in this area? Traditionally, accountants are slow to embrace change. It wasn't that long ago, when some practitioners still didn't utilize email! Slowly, we've seen advisors accept these transitions. As the speed with which technology increases, I expect to see increased acceptance by accounting professionals. In working with hundreds of successful practitioners across the country, I've noted one common quality: Those who seek the use of technology to improve their businesses and those who are open to change succeed at a faster pace than those who resist. 16 Back to Contents Page 3

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