CPA Practice Advisor

JUN 2016

Today's Technology for Tomorrow's Firm.

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4 June 2016 • www.CPAPracticeAdvisor.com By Gail Perry, CPA, Editor-In-Chief FROM THE EDITOR Published by SouthComm Business Media, Inc. PO Box 803 | 1233 Janesville Ave. Fort Atkinson, WI 53538 920-563-6388 | 800-547-7377 VOLUME 26, NUMBER 5 Publisher: Barry Strobel Editor-in-Chief: Gail Perry, CPA Managing Editor: Isaac M. O'Bannon Assistant Editor: Taija Sparkman National Sales Manager: Jim Colford Columnists: David McClure Doug Sleeter Jim Boomer, CPA.CITP Kristy Short Randy Johnston Rene Lacerte Roman H. Kepczyk, CPA.CITP Paul McDonald Art Director: Rhonda Cousin Site Manager: Lester Craft Production Manager: Barb Evenson Audience Development Manager: Terri Petitt Editorial Advisory Board: Jim Bourke, CPA.CITP, CGMA, CFF Jim Boomer, CPA.CITP, CGMA, MBA Bob Cedergren, CPA.CITP, CGMA, CISA Randy Johnston, MCS Greg LaFollette, CPA.CITP, CGMA Donny Shimamoto, CPA.CITP, CGMA Doug Sleeter Sandra Wiley, PHR, SPHR SOUTHCOMM, INC. CEO: Chris Ferrell CFO: Ed Tearman COO: Blair Johnson VP, Production Operations: Curt Pordes VP, Technology: Eric Kammerzelt Executive Vice President: Gloria Cosby Director of Digital Business Dev.: Lester Craft Subscription Customer Service 877-382-9187; 847-559-7598 Circ.CPA@omeda.com PO Box 3257, Northbrook IL 60065-3257 Article reprints: Brett Petillo Wright's Media 877-652-5295, ext. 118 bpetillo@wrightsmedia.com List Rentals: Elizabeth Jackson email: ejackson@meritdirect.com phone: 847-492-1350 ext. 18 • fax: 847-492-0085 Practice Advisor (USPS 017-576), (ISSN 2160-8725 print; ISSN 2160-8733 online) is published six times per year (February, April, June/July, August, October and December) by SouthComm Business Media, LLC, incorporating two editions known as CPA Practice Advisor and NSA Practice Advisor. Periodicals postage paid at Fort Atkinson, WI 53538 and additional mailing offces. POSTMASTER: Send address changes to Practice Advisor, PO Box 3257, Northbrook, IL 60065-3257. Canada Post PM40612608. Return undeliver- able Canadian addresses to: Practice Advisor, PO Box 25542, London, ON N6C 6B2. Subscriptions: Individual subscriptions are available without charge in the U.S. to qualifed subscribers. Publisher reserves the right to reject non-qualifed subscriptions. Subscription prices: The basic annual rate is $3, based on qualifying associations of 10,000 or more public accountants that may also subscribe for all their public accountant members (certain restrictive covenants apply) for a basic subscription rate of $9 per member for a three-year subscription. One year subscription for all others: USA - $48; CAN $70 GST; INT'L $99 GST. All subscriptions payable in U.S. funds, drawn on U.S. bank. Canadian GST#842773848. Back issue $10 prepaid, if available. Printed in the USA. Copyright 2016 SouthComm Business Media, LLC. All rights reserved. No part of this publication may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopy, recordings or any information storage or retrieval system, without permission from the publisher. SouthComm Business Media, LLC does not assume and hereby disclaims any liability to any person or company for any loss or damage caused by errors or omissions in the material herein, regardless of whether such errors result from negligence, accident or any other cause whatsoever. The views and opinions in the articles herein are not to be taken as offcial expressions of the publishers, unless so stated. The publishers do not warrant, either expressly or by implication, the factual accuracy of the articles herein, nor do they so warrant any views or opinions offered by the authors of said articles. The opinions given by contributing authors are their own and are not the opinions of our staff. All trademarks used are the property of their respective owner. 4 J u n e 2 0 1 6 • w w w . C P A P r a c t i c e A d Gail is the Editor-in-Chief of CPA Practice Advisor and a CPA. She is the author of over 30 books (including "Mint.com for Dummies" and "QuickBooks 2014 on Demand") and she maintains a small tax practice. She earned a bachelor's degree in journalism fom Indiana University and studied accounting at Illinois State University before starting her professional career at Deloite. Gail is the former publisher and editor-in-chief at AccountingWEB and is a former columnist for the Indianapolis Star newspaper. Summer Reading Can Change Your Life! Alas, even if busy accountants do fnd quiet beach time, they're usually catching up with email on their smart phones or engaging in some business- related reading that they didn't have time for while at their desks. Tink what you will of that type of not-really- an-escape type of vacation, the fact remains that there is so much to read and learn and not enough time. To help you sift through the choices, we turned to our 40 Under 40 class, that stunning group of people who are paving new paths of leadership in our profession, for book recommendations. Maybe you'll fnd some gems here that you can pack in your beach bag, or at least carry with you on your daily commute. • Adam Burnet: Tree Deep Breaths, by Tomas Crum • Amanda Han: Rich Dad Poor Dad, by Robert Kiyosaki • Amy Cooper: To Kill a Mockingbird, by Harper Lee • Robert Slaby: Good to Great, by James C. Collins • Bret Austin Cooper: Banker to the Poor, by Muhammad Yunnus • Brian Friedman: Delivering Happiness: A Path to Profts, Passion and Purpose, by Tony Hsieh • Brian Michels: Missed Fortune, by Douglas Andrew • Cathy Iconis: Successful QuickBooks Consulting, by Michelle Long • Danetha Doe: Return to Love, by Marianne Williamson • Danielle Supkis Cheek: YOU are the Value, by Leo J. Pusateri • Elizabeth Pitelkow and Erica Lynn Brown: Te 7 Habits of Highly Efective People, by Dr. Stephen R. Covey • Harjit Virk: Te Intelligent Investor, by Benjamin Graham • Hector Garcia and Lucas Matesa, CPA: How to Win Friends and Infuence People, by Dale Carnegie • Irene Walsh: The Power of Positive Tinking, by Norman Vincent Peale • Jami Saterthwaite: Zero to One, by Peter Tiel • Jason Deshayes and Nate Hagerty: Te Bible • Jennifer Cavender: Taming Your Gremlin, by Rick Carson • Jennifer Warawa: Te ONE Ting : Te Surprisingly Simple Truth Behind Extraordinary Results, by Gary Keller and Jay Papasan • Jeremy Scot: Pride and Prejudice, Jane Austen • Jim Boomer: Crucial Conversations: Tools for Talking When Stakes are High, by Kerry Paterson and Joseph Grenny • Joy Lizote: Quiet Leadership, by David Rock • Justin Edenfeld: True Professionalism, by David Maister • Kacee Johnson: Blue Ocean Strategy, by W. Chan Kim and Renee Mauborgne • Katie Gilden: Te Lorax, by Dr. Seuss • Kim Austin: Implementing Value Pricing, by Ron Baker • Kristen Rampe: Go Givers Sell More, by Bob Burg • Marjorie Adams: Scaling Up: How a Few Companies Make It…and Why the Rest Don't, by Verne Harnish • Mathew Heggem: Te Soul of Money: Reclaiming the Wealth of Our Inner Resources, by Lynne Twist • Michael Devereux II: Atlas Shrugged, by Ayn Rand • Paul Kersten: Te Advantage, by Pat- rick Lencioni • Roy Keely: Orthodoxy, by G.K . Chesterton • Samantha Mansfeld: What Got You Here Won't Get You Tere, by Marshall Goldsmith, and Managing Transitions, by William Bridges • Tim Goetz: The 5 Dysfunctions of a Team, by Patrick Lencioni • Will Hill: Geting Naked, by Patrick Lenceoni — Gail Perry, Editor-in-Chief Follow me on Twiter at @gaperry GPerry@CPAPracticeAdvisor.com R emember when the phrase, summer reading, was equated with light, mindless, carefree, enjoyable but forgetable – the ubiquitous beach reads with which we are confronted each year, even though most of us do not actually spend our summers at the beach?

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