The "California Individual Tax Hazards: 10 Strategies for Out-of-State Practitioners" course equips tax professionals with essential insights into the complexities of California's individual tax regulations. Tailored for out-of-state practitioners, this course offers a comprehensive look at the unique challenges when preparing tax returns for clients with California ties. From residency rules to the mental health services tax, participants will learn strategies to navigate the state's intricate tax laws and avoid costly mistakes, ensuring compliance and maximizing client outcomes.
Learning Objectives
Upon successful completion of this course, participants will be able to:
Distinguish between California residents, part-year residents, and nonresidents, and understand how each status affects taxation.
Properly source income for clients with California ties, including wages, investments, and business income.
Apply California's community property rules to determine correct income allocation for married taxpayers.
Navigate the tax implications of California real estate transactions and installment sales for out-of-state clients.
Understand the mental health services tax and other state tax credit, and implement strategies for penalty management and relief using MyFTB.
