America's most comprehensive California Federal Tax Update - Cites the latest legislative developments while clarifying which tax reforms pertain to California tax practitioners. Combining the real-life experience of practicing CPAs with cutting-edge tax planning strategies, Western CPE's provides you essential knowledge by reviewing IRS, Congressional, and Judicial actions over the past year. Our intensive update will enable participants to quickly understand and implement tax reform changes for their client's Business preparations. Each tax season brings new challenges, and tax professionals in California experience more complexity. That's why thousands of California Tax Professionals turn to Western CPE to get an update that helps them win every day of tax season. Be prepared for California's unique tax fights and always have the answers for your clients. Whether you're a new Tax CPA or Expert Tax Advisor, you'll receive critical updates and in-depth explanations behind the changes Congress and the IRS make. You'll receive the most complete and up-to-date reference manual, written by our renowned tax experts. In addition, the digital PDF manual is hyperlinked to the Internal Revenue Code, tax court decisions, and other primary authorities, making it extremely convenient. California has its own unique headaches, and its financial professionals still need to deal with the full weight of all the Federal Tax danger zones. Join us as our world-class tax instructors share cutting-edge, California-specific, tax planning strategies.
Learning Objectives
Upon successful completion of this course, participants will be able to:
Identify characteristics of new legislation, and which pertain to California, by being able to cite the timing and impact of key provisions within legislation including: The Consolidated Appropriations Act of 2021 (which includes COVID-Related Tax Relief Act of 2020, Economic Aid to Hard-Hit Small Business, Nonprofits, and Venues Act of 2020, and Taxpayer Certainty and Disaster Tax Relief Act of 2020), Build Back Better Act, American Rescue Plan Act of 2021, The Cares Act, SECURE Act, TCJA and other issuances.
Identify requirements for various tax credits and characteristics of new legislation passed to assist businesses. Help your clients avoid California Tax problems with FTB and be able to explain why more businesses will owe California taxes.
Cite general rules and regulations for preparation of business returns and breeze through California Tax Basis work for LLCs and partnerships.
Cite current thresholds and phase-outs for key provisions for 2024; limitations for contributions, distributions, and conversions; requirements for real estate rentals for both small investors and real estate professionals.
Describe new developments in IRS policies and procedures.
Major Topics
Indexing
CA Filing Issues
CA Conformity
CA Non-Conformity
CA Credits
FTB