Hawaii Association Of Public Accountants 59 Annual State .

Hawaii Association of Public Accountants59th Annual State ConventionJune 11 - 14, 2014MAKENA BEACH AND GOLF RESORTWAILEA-MAKENA, HAWAII

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Welcometo Maui and the59 Annual State Convention of theHawaii Association of Public Accountants!thThe Maui Chapter has worked hard to put together a program withseminars by nationally and state-recognized speakers, exhibits to help youraccounting practices, two golf tournaments to test your handicaps, and funevening events for you to relax. I hope you find the seminars educational,the exhibits profitable to your firms, and of course, Maui’s beautiful golfcourses nothing but fairways and greens.Aloha,John W. Roberts, M.B.A., CPAHAPA State President

HAWAII ASSOCIATION OF PUBLIC ACCOUNTANTS59th Annual State ConventionJune 11 – 14, 2014WEDNESDAY, JUNE 11, 201410:30 a.m.Opening Day Golf Tournament – Wailea Gold Course.100 Wailea Golf Club Drive, Maui, Hawaii6:00 p.m.Board of Directors Dinner Meeting9:00 p.m.Hospitality Room OpensTHURSDAY, JUNE 12, 20147:15 a.m.Registration; Hospitality Room Opens7:45 a.m.Opening CeremoniesGreetings & AnnouncementsOpening Message - John W. Roberts, MBA, CPA, CGMA, HAPA State President7:55 - 11:45 a.m.Technical Sessions“Federal Tax Update”“Burning Questions (and Even Hotter Answers) About Grantor Trusts”“Income Tax Aspects of Family Partnerships and LLCs”“The Remains of the Day: Planning for the Disposition of a Client’s Body(Physical and Virtual) After Death”Lecturer: Professor Samuel A. Donaldson, Esq., Georgia State UniversityCollege of Law, Atlanta, Georgia11:45 - 12:45 p.m.General Membership Meeting, Part 1; lunch12:45 - 4:25 p.m.Technical Sessions“Recent Developments in the World of S Corporations”“Reasonable Compensation”Lecturer: Larry J. Brant, Esq. of Garvey Schubert Barer, Portland, Oregon5:30 - 6:10 p.m.Ocean Vodka Organic Farm and Distillery—tour and tasting, Upcountry Maui6:15 - 8:45 p.m.Surfing Goat Dairy—Barbeque Dinner and Tour of Dairy, Upcountry Maui9:30 p.m.Hospitality Room Opens

HAWAII ASSOCIATION OF PUBLIC ACCOUNTANTS59th Annual State ConventionJune 11 – 14, 2014FRIDAY, JUNE 13, 20147:30 a.m.Registration8:00 - 9:00 a.m.Technical Sessions“Hawaii Tax Update”Lecturer: Kurt Kawafuchi, J.D., LL.M, M.B.A., CPA (not in public practice) ofHochman Salkin Rettig Toscher & Perez, P.C. of Beverly Hills and Hawaii9:00 - 11:40 a.m.“Tax Considerations for Foreign Investment in the United States”“FATCA Withholding and Reporting Requirements”Lecturer: Gary Tober, Esq. of Garvey Schubert Barer, Seattle, Washington11:40 - 12:50 p.m.General Membership Meeting, Part 2; lunch12:50 - 1:40 p.m.Technical Sessions (continuation with Gary Tober, Esq.)1:40 - 2:30 p.m.“Planning in a Low (Rising?) Interest Rate Environment”Lecturer: William H. Atha II, Sr. VP, Family Wealth Director, Morgan Stanley,Honolulu, Hawaii2:45 - 3:30 p.m.“Capital Market Update”Lecturers: William H. Atha II, Sr. VP, Family Wealth Director, and TroyTorigoe, Assoc. VP, Wealth Advisor, Morgan Stanley, Honolulu, Hawaii3:30 - 4:30 p.m.“Economic Update and State Revenue Trends”Lecturer: Paul H. Brewbaker, Ph.D., Economist, TZ Economics, Honolulu,Hawaii6:00 - 10:00 p.m.59th Annual State Convention Installation Banquet; dancing and entertainment bythe Asian Blend bandSATURDAY, JUNE 14, 201410:00 a.m.Aloha Golf Tournament – Wailea Emerald Course. 100 Wailea Golf Club Drive.

'HOUSE OF REPRESENTATIVESState of HawaiiState CapitolHonolulu, Hawaii 96813MESSAGE FROMREPRESENTATIVE ISAAC W. CHOY, CPAAloha and Welcome to the 59th Annual Hawaii Association of Public Accountants(HAPA) Annual Convention. I am sorry that I will be missing my first convention for as long asI can remember. Laurie and I will be attending our daughter Ashley’s graduation from the Universityof Washington. Nonetheless, I know you will have a great time in Maui and we will both miss allof you.HAPA is an organization that stands for local practitioners all across the Hawaiian Islands.Its advocacy for small practices in the state cannot be matched, and it is at these annual get togethersthat we re-energize ourselves for the challenges ahead. The accountants in Hawaii needs HAPA, tomake sure that they have a voice in every aspect of our profession and HAPA does an excellent jobfor the practitioners.Relax and have fun, the road ahead maybe bumpy, but HAPA will be there to lead the wayand help all of us be successful.Have a great convention, and remember to leave some of that single malt scotch for me.Aloha,Isaac W. Choy, CPAState RepresentativeDistrict 23Mānoa Punahou University MoiliiliHawaii State Capitol, Room 404, Honolulu, Hawaii 96813Phone: (808) 586-8475 Email: repchoy@capitol.hawaii.govWeb: www.capitol.hawaii.gov

Marilyn M. Niwao, J.D., CPA, ATANSA First Vice PresidentNiwao & Roberts, CPAs, a P.C.2145 Wells Street, Suite 402Wailuku, Hawaii 96793Telephone (808) 242-4600, ext. 224E-mail: mniwao@aol.comGreetings from NSA!In August 2013, I was elected as NSA First Vice President at NSA’s Annual Convention inIndianapolis, Indiana. (Thank you to HAPA members who supported my election as 2nd VP ofNSA in 2012 against 3 other candidates!) In addition to attending other state societyconventions and board meetings, I attended the NASBA meeting on Maui in October 2013 andthe Accreditation Council for Accountancy and Taxation (ACAT) board meeting inSt. Petersburg, Florida in January 2014. One of my primary responsibilities as 1 st VP also wasto serve as Chair of the Budget Committee and propose a budget for NSA for the next fiscalyear.The NSA 69th Annual Convention will be held at the Hyatt Regency in Baltimore, Marylandfrom August 20 to August 23, 2014. At that convention, I hope to be elected as NSA president.The convention is packed with 17 hours of Hot Topic CPE, with IRS Commissioner JohnKoskinen featured as a keynote speaker. NASBA president and CEO Ken Bishop and NASBAChair Carlos Johnson will also participate in a panel discussion discussing emerging issuesaffecting your practice. Social events include a Baltimore Crab Feast, an ACAT cocktailreception, an Aloha Dessert Reception sponsored by HAPA in my honor, and the installationbanquet on August 23, 2014.The Hyatt Regency hotel is located at Baltimore’s Inner Harbor, which is a great location withlots of restaurants, shops, boat and harbor shuttle cruises, and attractions to see, such as theMaryland Science Center, the National Aquarium, and the Fort McHenry National Monument.I hope you are able to join me at this year’s Annual NSA Convention in Baltimore!With warmest aloha,Marilyn M. NiwaoMarilyn M. Niwao, J.D., CPA, ATAFirst Vice PresidentNational Society of Accountants1010 North Fairfax Street, Alexandria, Virginia 22314-1574 Phone: 703.549.6400 Fax: 703.549.2984 http://www.nsacct.org

June 2014Welcome to the 59th Annual HAPA state convention. The Maui chapter is always a greathost. I am looking forward to the great CPE that is scheduled and trying Maui producedvodka and having dinner on the goat farm.As NSA District XI governor, I attended the joint Districts IX, X and XI meeting in LasVegas, NV and the NSA board meetings in Minneapolis, MN and Charlotte, NC where themain focus was membership and how to increase membership. If anyone has any ideasthat can help NSA with membership recruitment please let me know.The 2013 NSA convention was held in Indianapolis, IN. This year’s annual NSAconvention will be held at Hyatt Regency, Baltimore, MD on August 20-23, 2014. MarilynNiwao, NSA second VP and HAPA member, will be installed as NSA President at theconvention. I encourage you to attend the convention and help Marilyn celebrate herinstallation. Marilyn will become the third HAPA member to serve as NSA president, whichis a great accomplishment for a member of HAPA.I want to thank Dick Oshima as District XI district director and his efforts in NSAmembership recruitment.I hope your stay on Maui is enjoyable.Aloha,Brian M. IwataNSA District XI Governor1010 North Fairfax Street, Alexandria, Virginia 22314-1574 Phone: 703.549.6400 Fax: 703.549.2984 http://www.nsacct.org

59th ANNUAL STATE CONVENTIONANNUAL GENERAL MEMBERSHIP MEETINGThursday, June 12, 2014 and Friday, June 13, 2014Makena Beach and Golf Resort – Wailea-Makena, HawaiiAGENDA1.CALL TO ORDER2.CALL FOR QUORUM (20 members in good standing in attendance)3.APOINTMENTS OF:ParliamentarianSergeant-At-Arms4.MINUTES OF 58TH ANNUAL GENERAL MEMBERSHIP MEETING. Sharon Ibarra5.REPORTS OF THE OFFICERS:President . John W. RobertsVice President, Hawaii . Peter TadakiVice President, Kauai .Timothy L. AlbaoVice President, Maui . Colleen M. TakamuraVice President, Oahu . Robert H. Fukuhara, Jr.Treasurer. Laurie M. Choy6.REPORTS OF THE NATIONAL SOCIETY OF ACCOUNTANTS (NSA) OFFICERS:NSA First Vice President . Marilyn M. NiwaoGovernor, District XI .Brian M. IwataState Director, Hawaii . Dick Oshima7.REPORTS OF STANDING COMMITTEES:Membership .Eric MatsudaLegislative Committee . Marilyn M. Niwao, Brian M. Iwata8.UNFINISHED BUSINESS9.NEW BUSINESS:Endorsement of Marilyn M. Niwao as NSA President and Dick Oshima as NSA StateDirector for HawaiiElection of HAPA Officers and Directors:Report of the Nominating Committee . Marilyn M. NiwaoElection of Officers and Directors .Sharon IbarraInstallation of Officers and Directors . Marilyn M. Niwao, NSA First Vice President10.STATE DELEGATES TO THE 69th NSA ANNUAL CONVENTIONEvery NSA Member Attending is a Delegate.11.SELECTION OF 2016 HAPA 61st ANNUAL STATE CONVENTION SITE12.ANNOUNCEMENTS13.ADJOURNMENT