Many clients see their CPAs at tax time, when the main focus is on completing and filing their tax return. As a result, they may not take the opportunity to ask questions about long-term tax planning or about other important financial concerns. The good news is that we are available to you all year. We have a full- time, year-round staff of experts with extensive expertise in a broad range of financial areas. We’re ready when you are to take some time reviewing your financial situation, helping you understand your options and make the best decisions. We’re also here in an emergency to help address unexpected financial concerns. So, give us a call to discuss your important financial issues whenever they arise.
What’s So Great about CPAs?
You may not have asked yourself that question in so many words, but you may have wondered what sets CPAs apart from other financial professionals. The answer in short: A lot. We typically begin our careers with years of college and graduate education. To become licensed,we must take the demanding Uniform CPA Examination, which tests our knowledge on a wide range of business topics over a total period of 14 hours. In addition, we have to meet an experience requirement and then be licensed by a State Board of Accountancy to practice. But it doesn’t stop there. Once we become CPAs, we also must meet continuing education requirements to update our knowledge of new business developments as well as commit to a strict code of ethical standards. Armed with this rigorous training, we’re on the job year round, ready to help individuals and businesses address their own unique challenges.
If you want more information about our firm and how we can help you resolve all your financial issues, don’t hesitate to contact us.
Accumulated Other Comprehensive Income Opt-out Election for March 31, 2015 Call Report
There is a one-time accumulated other comprehensive income (AOCI) opt-out election that must be made in a bank’s March 31, 2015 call report.  Eligible institutions may opt-out of the requirement to include most components of AOCI in common equity tier 1.   To make the AOCI opt-out election, institutions must enter “1” for “Yes” in item 3.a. of Part I of schedule RC-R.  If the institution elects to opt out, then AOCI treatment for regulatory capital will be consistent with the method used prior to January 1, 2015.  If the opt-out election is not made, then the institution’s calculation of common equity tier 1 will include most components of AOCI, which include net unrealized gains and losses, net of tax, on available for sale debt securities.
In addition to the AOCI opt-out election, various changes in the regulatory capital treatment for past-due loans, High Volatility Commercial Real Estate (HVCRE) loans, disallowed deferred tax assets, etc. are effective for the March 31, 2015 call report. 
If you have any questions regarding the AOCI opt-out election or other changes related to BASEL III please call us for assistance.
Is Your Will Up To Date?
When was the last time you reviewed your will? People generally make wills to guarantee the proper disposition of their money and property, which is why it’s a good idea to consult your CPA when it’s time to create or update your will.
We recommend that you revisit your will every time you experience a major life event, such as marriage, the birth of a child, retirement or other significant milestones. Even if there is no meaningful change in your life, it’s smart to review the document every couple of years to ensure it still addresses all your estate concerns and reflects your wishes. Changes in the value of your investments—such as a stock portfolio or real estate—may also require adjustments in your estate plans.
Reviewing your will may raise questions about various areas of your financial life, including your retirement or estate planning, college savings or other financial concerns. Be sure to turn to RBG for the perspective and advice you need, in order to make the best decisions.