Firm Profile
Professional Associations And MembershipsEvery CPA at Magnuson, McHugh is a member of the American Institute of CPAs (AICPA) and the Idaho Society of CPAs. Several are also members of CPA organizations in other states in which they retain active licenses. In addition, our firm is a member of the AICPA Private Companies Practice Section. This association imposes mandatory peer review on a regular basis to ensure quality control of all members' accounting and auditing services. It assures you we comply with the highest ethics and standards of the profession. We encourage our staff members to become active members of their communities. We are proud to be a Diamond Member of the Coeur d'Alene Chamber of Commerce, as well as, members of the Post Falls and Sandpoint Chambers. A Brief HistoryThe Firm originated May 8, 1951 when CPAs Harry Magnuson and Les Randall of Wallace, Idaho, operating as Randall & Magnuson, bought the Coeur d'Alene (CDA) accounting practice of Arthur McCrea. Mervin D. Selle served as the first Office Manager of the firm, then located in the Powell (now Elder) Building at 4th and Sherman in downtown CDA. Shortly after founding the firm, Randall sold his interest in the partnership to Magnuson to pursue opportunities in the mining industry. Magnuson then practiced as a sole proprietor under the name H.F. Magnuson & Company. In 1954, Magnuson envisioned greater potential in the CDA area than in either Wallace or Kellogg. On September 1, 1954, the firm acquired the accounting firm of Moran & Hayden, from L.C. (Les) Hayden and R. M. (Bob) Moran. Their office, located on the second floor of the Powell Building, became the firm's new office. After Selle moved, Dale Don was named Manager of the CDA office. Based on his contributions to the firm, he and Magnuson formed a new partnership in September 1954, under the same company name, H.F. Magnuson & Co. In December 1957, John W. McHugh of Helena, Montana was added to the staff. In 1961, Don sold his partnership interest to Dan Camp, who became Managing Partner, and offered McHugh a partnership interest beginning October 1, 1962. In 1957, after a fire destroyed the top (4th) floor of the Powell Building, the firm moved to offices at 416 Sherman, just east of their original downtown location. In 1963, the Firm's growth dictated larger quarters, so it relocated to new offices uptown' at 816 Sherman Avenue. W. T. (Bill) Bowlby of Wallace replaced Camp as a partner in 1972 and McHugh was named Managing Partner. Len Hodge from Washington was hired in 1969 and became a partner in 1974. He continues to serve on the Executive Committee. Prior to incorporation, partners included Magnuson, McHugh, Hodge and Bowlby. Bowlby served as partner in charge of the tax department until his untimely death in 1977. The Firm was incorporated in 1977 as H. F. Magnuson & Company, P.A., with Harry Magnuson, John McHugh, and Len Hodge as equal shareholders. In December 1979, in a move designed to recognize McHugh's enormous contribution to the Firm and its reputation, the corporate name was changed to Magnuson, McHugh & Company, P.A. Rick Maxey, a San Diego native, joined the firm in December 1973 and became a shareholder in 1978. He served as President from 1990 to 2005 and held the position of Chairman of the Board until his retirement in 2007. Ron Bremer, from Minneapolis, joined the firm in 1976 and assumed command of the tax department after Bowlby's death. He became a shareholder in 1982 and continues to serve as Director at Large. Stan Wood, a southeastern Idaho native, moved to CDA from Salt Lake City to begin his career with the firm in 1978 and became a shareholder in 1984. Wood was Director - Audit Services for many years and was named President of the firm effective January 1, 2005. Steve Flerchinger, who was raised in Washington, hired on in 1980 after working in Tacoma, and serves as Senior Manager - Cafeteria Plan Services. Due to its continued growth, the company moved again in November 1980, to a newly constructed office building at the Mullan Avenue location. Rob Chatters, of Washington, was employed in December 1984 following a job in Seattle. Tori Gray, a Montana native, arrived in May 1992 as the vanguard of women CPAs in the firm. She was followed by two former CDA High School classmates, Toni Hackwith in 1994 and Michelle Schini-Mitchell in 1995. Next came Marsha Cayko, another Montanan, (pronounced: cy-ko) in 1998. Gray is Director Tax Services responsible for administration of our Tax Services department and is a member of our Executive Committee, while Hackwith is Director of Audit and Mitchell is Directory of Business Accounting and Consultation. Hackwith joined the Executive Committee in 2005 and Mitchell joined in 2008. Cayko is Manager of Retirement Plan Services. From its humble beginnings, the firm has grown to a staff of 35 to 40 depending on the season, including 15 CPAs. Firm members have long been active in professional activities. Bill Bowlby, John McHugh, Rick Maxey, and Tori Gray have each served as President of the Idaho Society of CPAs. McHugh and Len Hodge have each served 5-year terms on the Idaho State Board of Accountancy. Maxey represented Idaho on the AICPA Council for six years. Stan Wood currently sits on the Idaho State Board of Accountancy. In addition, many staff members have been involved in various Idaho Society and AICPA committees, as well as, area community and civic activities. The firm has a history of support for many worthwhile local causes. As the firm moves into the 21st century, it remains focused on continued growth, development of new services, exceptional quality client service, succession, and transition planning, as Maxey retires in July 2007 and Hodge plans to reduce his work schedule beginning in 2007. The current management team is sound and the staff is very capable of meeting client expectations in a competent and timely fashion. Due to continued growth of the practice, the firm moved into a new 10,000 square foot office on Northwest Boulevard in late 2007. We believe that location should serve us and our clients very well for the next 20 years. Client SatisfactionOur reputation is built upon a foundation of satisfied clients. Our goal is your complete satisfaction, nothing less. Whether we're preparing financial statements, dealing with the IRS or providing any other financial or consulting assistance, we have only your best interests in mind.
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