Weaver named to INSIDE Public Accounting’s ‘Best of the Best Firms for 2014’

180x150-WeaverWeaver, the largest independent accounting firm in the Southwest, announces that the firm received INSIDE Public Accounting (IPA) magazine’s 2014 Best of the Best firms recognition.

“We are very proud to be among those named an IPA Best of the Best firm,” said Tommy D. Lawler, Weaver’s managing partner and CEO. “Our employees work very hard, and this is truly a firm-wide success.”

This recognition honors 50 firms that demonstrate long-term consistency and exceptional performance, as well as operational excellence. More than 540 firms from all over
the country participated in the 24th IPA Annual Survey and Analysis of Firms. The IPA 2014 Best of the Best firms stand out as well-managed and well-executed examples of how to succeed. Firms receiving this recognition range in size from 20 people to more than 2,000 people.

best of the best firms“The IPA Best of the Best firms represent the pinnacle of high-performing firms in the United States. Each firm demonstrates the right combination of vision, planning, training and execution to deliver superior performance,” said Michael Platt, principal of the Platt Group and publisher of the accounting trade publication, INSIDE Public Accounting. “We congratulate this year’s Best of the Best and welcome them to this exclusive group of high-performing firms.”

“The success of the Best of the Best firms is a tribute to their leadership and staff,” said Kelly Platt, publisher of INSIDE Public Accounting. “These firms’ enviable performance provides a model to others to better understand and implement winning strategies to run a more successful firm. We salute all Best of the Best firms and are proud to bestow this honor upon them from INSIDE Public Accounting.”

The special section titled, “The 2014 IPA Best of the Best Firms” that lists the top 50 firms in alphabetical order, published in the September 2014 issue of INSIDE Public Accounting.

About Weaver
Originally founded in 1950, Weaver currently has approximately 500 employees and Texas offices in Austin, Dallas, Fort Worth, Houston, Midland, Odessa and San Antonio. The firm also operates in Denver, Colo., and Stamford, Conn. Weaver is ranked the largest independent accounting firm in the Southwest by Accounting Today magazine. The firm is also ranked the 38th largest firm in the United States by INSIDE Public Accounting.

Weaver serves a broad range of clients including public and private national and international companies, nonprofit organizations and governmental entities. In addition to traditional assurance and tax services, Weaver also provides numerous advisory services, including energy compliance and consulting; risk advisory; transaction advisory; IT advisory; forensic and litigation support; international tax; property tax; state and local tax; and wealth strategies services. Learn more at www.weaver.com.

 

UNITED SA Federal Credit Union announces new Board Chairperson

PrintUNITED SA Federal Credit Union is pleased to announce the appointment of Bill Gregory as chairperson of the board of directors. Mr. Gregory has been a certified public accountant in San Antonio for 29 years and is the managing member of the CPA firm of Gregory & Crutchfield, LLC.  He also has experience in banking, real estate and the oil and gas industry.

At the 59th annual membership meeting held on March 6, 2014 at the credit union’s headquarters, Peter Hugdahl was re-elected and Arthur Settles was elected to serve on the board. Directors are elected annually by credit union members and serve three-year terms on a voluntary basis.

Bill_Gregory_5x7_colorServing on the board in 2014 with Mr. Gregory will be: Rick Tobias, vice chairperson; Don Mann, treasurer; Richard Baggs, secretary; Peter Hugdahl; Rosaura Ramirez; John Rees; and Arthur Settles.

About UNITED SA Federal Credit Union
Now in its 59th year, UNITED SA Federal Credit Union is headquartered in San Antonio, Texas. The credit union’s field of membership includes those who live, work, worship, attend school and businesses and other entities in Bexar County, Texas. Almost 30,000 members own and belong to the nonprofit financial cooperative, which has over $225 million in assets.

SSFCU names San Antonio employees of the year

Security Services Federal Credit UnionSecurity Service Federal Credit Union (SSFCU) honored Kelly Pils as manager of the year and Maria Schofell as employee of the year for the Central Region at the credit union’s annual celebration at Ruth’s Chris Steak House in San Antonio.

KellyPils2014Pils is the manager of the Support Desk for Network Services at the credit union’s corporate headquarters where she has distinguished herself by implementing many new requirements and raising the standards of the Help Desk Operations team, leading to faster member service, more efficient operations and consistent and customer-focused resolution. Pils is an active volunteer in the community and dedicates much of her volunteer efforts to the Magdalena House of San Antonio.

MariaSchofell2014Schofell is a senior accounting tech at the credit union’s accounting department. Innovative with a great deal of initiative, Schofell has been instrumental in efforts that have created a more efficient payment process. She is actively involved in SSFCU’s volunteer corps, working at a variety of community events throughout San Antonio.

Security Service Federal Credit Union is among the top 10 credit unions in the country with more than $7.7 billion in assets and more than 2,000 employees in 70 locations throughout Texas, Colorado and Utah.

Makayla Matheson Receives 2013 BKD PRIDE Award

Makayla Matheson_Sep 2010Ted Dickman, BKD, LLP chief executive officer, is proud to announce Makayla Matheson as the employee recipient of the firm’s 2013 PRIDE Award.

The award is given each year to one partner and one employee who exemplify the firm’s PRIDE values:  passion, respect, integrity, discipline and excellence.  BKD partners and employees nominate their peers for the award, and the winners are chosen by the firm’s Governing Board.

Matheson is a supervisor providing audit and accounting services to not-for-profit organizations, including private schools, universities, health and welfare organizations and foundations, as well as clients in the construction and real estate industries.  In her nearly five years with the firm, she has consistently demonstrated an upbeat, can-do attitude and a passion for training staff, which led her to sign on as a counselor for Camp BKD, the firm’s weeklong training and orientation for new hires.

“Makayla is a great example of what it means to live the PRIDE,” Dickman said.  “Her positive attitude and professional skills make her a wonderful representation of The BKD Experience of unmatched client service.  Congratulations to Makayla on earning this well-deserved honor.”

Matheson received her award during a June 19 ceremony at The Midland in Kansas City, Missouri, during BKD’s Leadership Conference.

About BKD
BKD, LLP is a national CPA and advisory firm that delivers its experience and service with a deep understanding of your business, your needs and what it takes to improve your business performance.  BKD’s approximately 2,000 personnel, including approximately 250 partners, serve clients in all 50 states and internationally.  To learn more, visit bkd.com.

Praxity, AISBL, a global alliance of independent firms, enhances BKD’s ability to serve the dynamic needs of multinational clients.  Praxity provides the gateway to tax, assurance and consulting services delivered by alliance firms committed to the highest standards required in international business.

PS&Co. receives Mayor’s Fitness Council’s Healthiest Workplace Award

Padgett Stratemann & Co.The San Antonio Business Group on Health (SABGH) and the Mayor’s Fitness Council have recognized Padgett Stratemann & Co., L.L.P. (PS&Co.) as one of the healthiest workplaces in San Antonio! PS&Co. was awarded a gold-level recognition in the small worksite category. This program was created to recognize local employers for their worksite wellness efforts. Bronze, silver, and gold level awards were given based on the company’s wellness program in five areas: culture, health promotion and education, physical activity, nutrition, smoking and tobacco use, and health benefits and value-based benefit design.

healthy places to work poster

Award Recipients received recognition by the Office of Mayor Julian Castro and The Mayor’s Fitness Council, a certificate of award, and recognition at a reception hosted by Mayor Castro.

The SABGH is a membership-based organization of local employers and providers of worksite wellness programs and services. The SABGH aims to improve the health of the San Antonio workforce by providing the business community with opportunities to network, discuss best practices, promote worksite wellness initiatives, and recognize local employers for their efforts to improve health and wellness.

Congratulations to all the 2013 honorees:

Gold-Level Recognition

  • Baptist Health System
  • Broadway Bank
  • CP&Y
  • Dr. Rogers Weight Loss Centers
  • esd & associates
  • Harlandale Independent School District
  • Healthways, Inc.
  • Methodist Healthcare
  • Mid-Coast Electric Supply Company
  • North East Independent School District
  • Northside Independent School District
  • Padgett, Stratemann & Company, L.L.P.
  • RVK Architects, Inc.
  • San Antonio Food Bank
  • San Antonio Sports
  • Time Warner Cable Media San Antonio
  • United Health Care
  • USAA

Silver-Level Recognition

  • Argo Group
  • Bexar County
  • City of San Antonio
  • CPS Energy
  • Harland Clarke Holdings
  • HEB
  • Lancer Corporation
  • Our Lady of the Lake University
  • San Antonio College
  • San Antonio Water System
  • Security Service Federal Credit Union
  • Tesoro Corporation
  • The University of Texas at San Antonio
  • Valero Energy Corporation
  • VIA Metropolitan Transit
  • YMCA of Greater San Antonio
  • University Health System
  • University of the Incarnate Word

Bronze-Level Recognition

  • Palo Alto College
  • South Texas Blood & Tissue Center

Texas Modifies Cost of Goods Rule

Padgett Stratemann & Co.Effective June 5, 2013, the Texas Comptroller of Public Accounts adopted an amendment to Margin Tax Rule §3.588 concerning Cost of Goods Sold (COGS). The major change deals with adding a definition of “Service costs,” which means indirect costs and administrative overhead costs that can be identified specifically with a service department or function, or that directly benefit or are incurred by reason of a service department or function.  The definition of “Labor costs” is amended to memorialize the comptroller’s revised policy, which is based in part on federal income tax requirements regarding the labor expenses that may be included in a taxpayer’s COGS calculation.

Service Costs
Service costs means indirect costs and administrative overhead costs that can be identified specifically with a service department or function, or that directly benefit or are incurred by reason of a service department or function. For purposes of this section, a service department includes personnel (including costs of recruiting, hiring, relocating, assigning, and maintaining personnel records or employees); accounting (including accounts payable, disbursements, and payroll functions); data processing; security; legal; general financial planning and management; and other similar departments or functions.

Labor Costs
Subsection (d)(1) of Texas Rule §3.588 is amended to capture certain costs that may be included in a taxpayer COGS calculation under Texas Tax Code, Section 171.1012(c)(1), which is based in part on federal income tax requirements.   Internal Revenue Code (IRC) Section 263A identifies costs that would otherwise be deductible as ordinary and necessary business expenses for federal income tax purposes but must instead be capitalized into inventory. Under IRC Section 263A, taxpayers must capitalize both direct labor and material costs and indirect costs that directly benefit, or are incurred by reason of, the performance of production activities. Many of the indirect costs that are required to be capitalized for federal purposes are specifically referenced in Texas Tax Code, Section 171.1012(c) as part of “all direct costs of acquiring or producing goods.”

Based upon this, the comptroller has concluded that Texas Tax Code, Section 171.1012(c)(1) allows taxable entities to include in their cost of goods sold calculation both direct labor costs and those indirect labor costs, other than service costs, that are subject to capitalization under the Treasury Regulations interpreting IRC, Section 263A. The proposed amendments reflect this policy determination. The comptroller is aware that many taxpayers fall under the regulations related to IRC, Section 460, rather than IRC, Section 263A. The amendments in this subsection include a reference to the federal regulations interpreting IRC Section 460, which apply the rules set forth in the relevant portions of the Section 263A Internal Revenue regulations. In addition, the amendments make clear that the expenses described in subsection (d)(1) Margin Tax Rule §3.588  are expenses of the type that are subject to capitalization under IRC Section 263A, without regard to whether a taxable entity actually capitalized those expenses on its federal return.

For questions related to the Cost of Goods Rule or another tax matter, please contact your PS&Co. tax professional. Padgett-CPA.com   |   800.879.4966