We Won the STATEWIDE CalCPA Public Service Award!
I often get asked why I am no longer working in the nonprofit profession here in Modesto; that is subsequently followed by a probing question inquiring when I plan to return. The answer is easy! My role as Marketing Manager here at Grimbleby Coleman CPAs bridges this gap in the most fulfilling of ways — so I won’t be heading back soon!
After working in the non-profit world for more than 10 years, I’ve now managed to find a position where two of my passions — marketing and community activity — are encouraged to blossom simultaneously. I feel so strongly about this that I personally wrote the Grimbleby Coleman CPAs’ nomination for the Cal CPA Public Service Award. Each day I count my blessings that I found a place of work filled with inspirational, honest, and hardworking people.
CalCPA Public Service Award Recognition
This month, our firm was awarded the statewide honor of the CalCPA Public Service Award, exemplifying our commitment to firm-wide community support. The honor rewards visionary professionals, and the firms they lead, for extraordinary efforts in serving their communities. According to the award committee, we have demonstrated “firm-wide ethos exemplifying the community consciousness that all firms should adopt.” They went on to say, “We want to not only congratulate you for this achievement, but also hold you up as an example to others for adopting community service as a best practice.”
Grimbleby Commun — I Mean, Coleman
At Grimbleby Coleman CPAs, community service is more than just an opportunity to build relationships with the areas we serve, it’s part of our firm’s identity and mission statement: “Building success for and connections with our colleagues, clients and community … it’s the people behind the numbers.” Our commitment to social responsibility and serving people in our community is at the heart of everything we do. The “people behind the numbers,” is a constant theme that runs throughout our company; we care about one another and aim to support our associates with community involvement experiences.
Our partners understand that being locally connected is more than just sponsoring a baseball team or having an annual employee food drive. They lead by example by serving as board members and lending their time, talent, and financial resources to many important local organizations. Our employees are encouraged to get involved in community organizations that speak to their individual passions; in fact, our employees are encouraged to take the time and flexibility they need to pursue volunteer opportunities through our policy of unlimited volunteer time off.
- 1,680 hours of team-wide civic and community service participation!
- 60+ events sponsored annually!
Modesto Chamber of Commerce, Stanislaus Business Alliance, Central Valley Business Center and Opportunity Stanislaus, Modesto Rotary, Community Hospice, Love Modesto, Modesto Chamber of Commerce, McHenry Mansion, Women’s Education & Leadership League, Downtown Modesto Partnership, Historic State Theatre, Modesto Sunrise Rotary, Toastmasters, Modesto Sunset Lions Club, Murals in Motown, Del Rio Country Club, Hope Haven International, United Samaritans, United Way of Stanislaus County, CPA Firm Management Association, Valley Medical Group Managers Association, Hope Haven West, Cambodia Impact, Stanislaus County Estate Planning Council, Stanislaus Community Foundation, CalCPA San Joaquin Chapter, Modesto Neighborhoods, Community Hospice, Salvation Army, Beyond Borders and numerous others!
Let’s All Do Our Part!
There are always ways to be part of making our community better, and my hope is that everyone is doing their part! Whether it’s at church, at school, or giving an ear to a friend or a smile to a stranger.
- The farmer wanted to ensure the children inherited equitably.
- All parties wanted to limit the liability exposure posed to the farmer as an individual owner and operator.
- The father and his children wanted to limit taxable income and estate taxexposure for the older generation.
- The operation needed to be positioned for future growth.
- Limiting tax impact on contributing operations to new S Corp and Limited Partnerships
- Considering the benefits and burdens of an IC-DISC entity
- Determining how and through which entity owners should be compensated
- Cash-basis methods available for farm activities
- Important factors for tax planning:
- Farm income averaging and qualifying types of income
- Net investment income tax
- Active versus passive investor treatment
- Maximizing the domestic production activity deduction
- Optimizing income for IC-DISC commission purpose
|Jeff Bowman, Ag Team Leader|
- Don't avoid "The Talk" because it is a touchy or fight-triggering subject.
- Obstacles like greed, family disharmony, control freaks, self-interest, and lack of contribution are tricky topics to air. Speak candidly and nip them in the bud with new solutions.
- Write down both small and major goals that every person can agree on.
- Schedule regular meetings with the entire family during the year and be sure that notes or recordings are taken at every meeting.
- Commit and execute the plan!
Our team specializes in succession planning, please watch the video to learn why this is so important for ag families.
- Review the asset with your accountant as part of your estate and charitable giving plan.
- Your accountant will model and calculate your CRT based on your asset's long-term and current market value; this financial modeling will help you better understand the financial implications of a CRT.
- Your attorney will draft the trust agreement.
- Your asset must be funded, and then sold, by the end of the calendar year.