Philip R. Fink, CPA, JD, MBA

PUBLICATIONS

ARTICLES (all refereed journals)

“Bear Market Presents Good Opportunity for Making Gifts of Securities,” Practical Tax Strategies, May, 2009.

“IRA Recharacterizations:  The Time Machine of Retirement Planning,” Journal of  Retirement Planning, March-April, 2009 (co-authored with Donald Saftner).

“Series EE Savings Bonds Offer Investors a Variety of Tax Opportunities,” Practical Tax Strategies, September, 2008.

“Prolonging Distributions From a Traditional IRA May ‘Backfire’ Under Certain Circumstances,” Journal of Retirement Planning, July-August, 2007.

“Election can Raise Deduction Limit for Investment Interest Expense,” Practical Tax Strategies, March, 2007 (co-authored with Laura J. Kirkendall).

“Deciding Whether to Select a Spouse or Child as a Designated Beneficiary of a Traditional IRA Can Result in an Additional Million Dollars of Distributions,” CCH Financial and Estate Planning, December, 2006, This was a reprint of the article that originally appeared in the November-December, 2006 issue of the Journal of Retirement Planning.

“Deciding Whether to Select a Spouse or Child as a Designated Beneficiary of a Traditional IRA Can Result in an Additional Million Dollars of Distributions,” Journal of Retirement Planning, November-December, 2006.

“Annuities Fill a Niche in Tax-Astute Retirement Planning,” Practical Tax Strategies, October, 2005.

“Choice of Savings for Retirement Will Impact the Taxation of Social Security Benefits, Plus Much More,” Journal of Retirement Planning, March/April, 2005 (co-authored with Donald Saftner)

“Choice of Savings for Retirement Will Impact the Taxation of Social Security Benefits, Plus Much More,” reprinted in CCH Financial and Estate Planning Report No. 304. This article was originally published in the March/April issue of the Journal Retirement Planning.

“Review Tax Strategies to Ensure that Retirement Years are Golden,” Practical Tax Strategies, May, 2004 (co-authored with Donald Saftner).

“Planning Liquidation of Investments in Retirement, The Tax Adviser, March, 2004.

“Allocate Investments Wisely Between 401(K) and Taxable Accounts,” Practical Tax Strategies, April, 2003.

“The Benefits of CRATS,” The Tax Adviser, December, 2002

“401(K) Plans are Not All They are “Cracked up” to be,” Practical Tax Strategies, October, 2002.

“Jointly owned Property May Save Income Taxes, But it Creates Gift Tax and Estate Tax Problems, Journal of Practical Estate Planning, August/September, 2002.

“Reconsider Bonds in Light of Current Choices,” Practical Tax Strategies, February, 2002.

“Sale-and-Leaseback of Real Property,” The Tax Adviser, May 2001.

“Tax Differences Offset Bond and Stock Fund Similarities,” Practical Tax Strategies. May, 2001.

“Volatile Market Enhances Alternate Valuation Date Election,” This was reprinted in Tax Ideas in August, 2000. This article originally appeared in the July, 2000 Issue of Practical Tax Strategies.

“Volatile Market Enhances Alternate Valuation Date Election,” Practical Tax Strategies, July, 2000.

“A Gift in Time Can Save an Estate Tax Gold Mine,” Practical Tax Strategies, February, 2000.

“Premature IRA Withdrawals: Selecting an IRA When a Premature Withdrawal is Possible,” Personal Financial Planning, November/December, 1999 (jointly authored with Donald Saftner).

“Tax Advantages of Leasing Real Property to a Close Corporation,” Estate Planning, August/September, 1999.

‘The IRS’s New Approach to Financial Status Audits,” The CPA Journal, June, 1999 (jointly authored with Charles Gibson)

“Financial Status Audits Under the IRS Restructuring and Reform Act of 1998,”  National Public Accountant, March/April, 1999 (jointly authored with Charles Gibson)

“Estate Planning Ideas for Qualified Small Business Stock,” Taxation for Lawyers, September/October, 1998. This article was reprinted from the July, 1998 issue of Taxation for Accountants.

“Estate Planning Ideas for Qualified Small Business Stock,” Taxation for Accountants, July, 1998.

“Revocable Versus Irrevocable Trusts,” The CPA Journal, February, 1996, (jointly authored with Eric Tuori).

“Exposure to the Extra contractual,” Journal of Accountancy, December, 1995, (jointly authored with Dean Crawford, Diana Franz, and Raymond Zimmerman).

“Purchasing Life Insurance for Controlling Shareholders,” The National Public Accountant, August, 1994.

“Should an S Corporation Election Be Terminated After the Revenue Reconciliation Act Of 1993,” The Journal of Corporate Taxation, Summer, 1994 (jointly authored with Dean Crawford).

“Covered Calls Can Provide Tax and Financial Advantages,” Journal of Taxation of Investments, Summer, 1993 (jointly authored with John McCrudden).

“Keeping It Together: How to Help Small Business Clients Keep Their Estates Intact,” National Public Accountant,  February, 1993.

“Making Gifts Into Trusts For Minors,”  National Public Accountant, August, 1992.

“Grantor May Have Powers Over Trust, Yet Not be Subject to Tax,” Estate Planning, July/August, 1992.

“Structuring a Partner’s Retirement to Benefit Both Partner and Partnership,” Small Business Taxation, July/August, 1990.

“Timing Withdrawals from Retirement Accounts Can Increase Tax Savings,” Taxation for Accountants, March, 1990 (jointly authored with Donald Saftner).

“Contributing Mortgaged Property to a Partnership May Provide Tax Savings,” Taxation for Accountants, January, 1989.

“Accountants and Third Party Liability,” National Public Accountant, April, 1988 (Jointly authored with Charles Gibson).

“The Accountant’s Role in Partnership Agreements,” The National Public Accountant, November, 1986.

“A Practitioner’s Guide for Helping Clients Plan for Tax Shelters,” The National Public Accountant, January, 1986.

“Partnerships Versus S Corporations After the Subchapter S Revision Act of 1982,” National Public Accountant, March, 1984.

“Taxpayer’s Remarriage May Have an Impact on Tax Benefits Otherwise Available to Both Spouses,” Taxation for Accountants, September, 1983.

“Tax Planning for Involuntary Conversions Under ERTA,” The National Public Accountant, October, 1982.

“Special Planning Can Enhance the Benefits of Contributing Property to a Partnership,” Taxation for Accountants, March, 1982.

“Tax Planning for Avoiding the Limitation on Investment Interest Expense,” Taxes, October, 1981.

“Shareholder Lease of Property to Corporation Can Maximize Tax Benefits to Both Parties,” Taxation for Accountants, April, 1981.

“Should Qualified Stock Options be Exercised Prior to May 21, 1981?” Taxes, July, 1980.

“Using the Class Life ADR System to Accelerate Depreciation Deductions,” The National Public Accountant, March, 1980.

“Alimony Trusts – Income, Gift, and Estate Tax Considerations,” Trusts and Estates, March, 1980.

“Tax Planning for Acquiring Equipment,” Taxes, November, 1979.

“Significant Tax Savings are Available by Properly Deciding When to Close an Estate,” Estate Planning, September, 1979.

“U.S. Series E Savings Bonds: When to Report the Interest After the Owner’s Death,” Estate Planning, May, 1979.

“Selecting a Form of Business Predicated on Characterization of Income Flows,” Taxes, October, 1978.

“Partnership vs. Subchapter S Corporation – Which Produces Better Tax Results for the Individual?”  The National Public Accountant, June, 1978.

“Optional Basis Adjustments to Partnership Property – Pitfalls and Tax Planning,” Taxes, May, 1978

“How Taxpayer Can Use the Investment Credit for Maximum Benefit in Lease Arrangements,” Taxation for Accountants, July, 1977.

BOOKS

Tax Guide for Acquiring, Maintaining and Disposing Business equipment Prentice-Hall, 1982, p. 310).

ARTICLES REPRINTED IN PROFESSIONAL CPE COURSES

“Exposure to the Extracontractual,” This article originally appeared in the December 1995 issue of the Journal of Accountancy and has been cited in a CPE course sponsored by the AICPA.

“How Taxpayer Can use the Investment Credit for Maximum Benefit in Lease Arrangements,” was originally published in the July, 1977 issue of Taxation for Accountants. This article has been adopted for use in a professional development manual by McGlandry, Hansem, Dunn & Co.., CPAs, Davenport, Iowa.

“Should Qualified Stock Options Be Exercised Prior to May 21, 1981?”  was originally published in the July, 1980 issue of Taxes. Permission was requested by Continental Illinois National Bank and Trust Company of Chicago to reprint this article.  The reprints were distributed to approximately 280 of its mid-level managers.

“Tax Planning for Acquiring Equipment,” was originally published in the November, 1979 issue of Taxes. Permission was requested by Deloitte, Haskins & Sells to reprint this article. The reprint was used as educational material in their professional development seminars.

“Tax Planning for Avoiding the Limitation on Investment Expense,” was originally published in the October, 1981 issue of Taxes. This article was adopted by the Colorado Society of CPAs for use in their continuing professional education text entitled, Real Estate Taxation and Planning.

TREATISES

I am an editorial consultant for the federal Tax Library published by Lexis-Nexis  Matthew Bender. In this capacity I update material in the area of property transactions. 2008 to the present.

I authored two chapters for the Lexis-Nexis Matthew Bender Federal Tax Library (2006):

•  “Annuities & IRAs
• “Gifts & Inheritances

I authored a series of “Practice Insights” for the Lexis-Nexis Matthew Bender for the Ohio Tax Library in the areas of income tax, franchise tax, estate tax, and use tax (2006).

 

PROFESSIONAL ASSOCIATIONS

American Accounting Association, 1975 to 2010.

Membership Committee, 1977-1978

Ohio Region Manuscript Competition Committee, 1978-1979

Ohio Society of CPAs, 1974 to the present

President, Toledo Chapter, 1995-1996

Board of Directors, 1990-1991, 1996-1997

Chairman, Strategic Planning Committee, Toledo Chapter, 1994-1995.

Communications with Educators and Students Committee, 1992-1995.

Convention Entertainment Committee, 1976-1977

Program Committee, Toledo Chapter, 1977-1978, 1979-1980, 1985-1986,

1986-1987, 1987-1988, 1988-1989, 1989-1990.

Taxation Committee, Toledo Chapter, 1978-1979, 1980-1981, 1984-1985.

Continuing Professional Education Committee, Toledo Chapter, 1979-1980,

1982-1983,

Relations With Industry Committee, 1980-1981.

Toledo Bar Association

Internal Revenue Service Liaison Committee, 1976-1980.

Taxation Committee, 1980-1984.

American Taxation Association

PROFESSIONAL ACTIVITIES

Formed and served as chairman of the Accounting Advisory Council 2015 to the present

Served on the Graduate Executive Council, 2015 to the present

Served on the Curriculum and Program Review Committee, 2016-2017

Served on the Student Research and Scholarship Committee, 2014-2016

Served on the Rank and Promotion Committee, 2011-2014

Served on focus groups for McGraw-Hill dealing with financial accounting and tax textbooks from 2005 to 2010.

Served on the Accounting Advisory Councils for

• Owens Community College
• Northwest State College

Served on the Advisory Council for the Auditor of State, 1995 to 1997.

Chairman, Planning Committee for the UT Tax Institute, 1987-1991 and 1993 to the present

Chairman, CPA Day sponsored by the Ohio Society of CPAs, 1995

Served as an examiner for the CMA exam at the Institute of Management Accounting in Ann Arbor, Michigan, 1976 to 1985.

Served as a participating instructor in various professional review courses:

• CMA review course sponsored by the University of Toledo, 1976 to 1984.
• CPA review course sponsored by the Ohio Society of CPAs, 1976.
• CPA review course sponsored by the Becker CPA Review Course, 1977 to 1980.
• Person-Wolinsky CPA Review Course from 1983 to 1989.

Undergraduate Courses

ACC 321:  Tax Accounting (Fall, 2011; Fall, 2012; Fall, 2013; Fall, 2014; Fall, 2015; Fall, 2016)
This course examines tax laws and regulations pertaining to individuals, partnerships, corporations, estates, and trusts. Includes the fundamentals of tax return preparation and tax planning.

BUS 201 – Accounting I – Introduces the principles of accounting for the sole proprietorship.  Presents the complete accounting cycle including journalizing and posting of business transactions, preparation of simple financial statements, and closing and adjusting entries.

BUS 202 – Accounting II – Continues BUS 201. Includes partnerships and corporate   accounting
principles, inventory and depreciation methods, financial statement and ratio analysis, and payroll taxes.

ACC 318 – Intermediate accounting I – Accounting history, theory and practice regarding financial statement preparation, analysis and interpretation. Coverage includes cash, marketable securities, receivables, inventories and fixed assets.

ACC 319 – Intermediate accounting II – Accounting history, theory and practice regarding financial statement preparation, analysis and interpretation. Coverage includes cash, marketable securities, receivables, inventories and fixed assets.

ACC 321 – Tax Accounting – Examines tax laws and regulations pertaining to individuals, partnerships, corporations, estates, and trusts. Includes the fundamentals of tax return preparation and tax planning.

ACC 322 – Cost accounting – Presents product, job order, process, and inventory costing topics.  Makes use of standard costing methods and variance analysis.  Activity-based costing methods are also described.

MBA 618 – Financial and Managerial Accounting – This course gives students an understanding of financial reporting and management accounting systems typically encountered in organizations.

MBA 623 – Financial Reporting Analysis – This course develops fluency in the language of business.  It focuses on the creation and analysis of financial statements for external decision makers such as stockholders, suppliers, banks, employees, government agencies, and other stakeholders. It also develops an understanding of accounting information for internal decision makers.

Graduate Courses

MBA 623: Financial Reporting Analysis (Fall, 2011; Fall 2012; Spring, 2013; Fall, 2013; Spring 2014; Fall, 2014; Fall, 2015; Fall, 2016)

This course develops fluency in the language of business.  It focuses on the creation and analysis of financial statements for external decision makers such as stockholders, suppliers, banks, employees, government agencies, and other stakeholders. It also develops an understanding of accounting information for internal decision makers.