CONTINUING EDUCATION FOR TAX & FINANCIAL PROFESSIONALS

2021 California Federal Tax Update: California Update

Icon_Webcast
Webcast
Icon_Level
Update
Credits
CPE Credits
3 Credits: Taxes

Course Description

Combining the real-life experience of a practicing CPA/EA with essential down-to-earth tax
materials in a high-tech format, this in-depth self-study course will enable participants to
grasp recent Federal and California tax changes. You’ll receive the most complete and up-to-date
course materials, written by renowned tax experts, Sharon Kreider and Karen Brosi.

Topics include:

  • The Build Back Better Act, Consolidated Appropriations Act, American Rescue Plan Cares Act, TCJA,  & SECURE Act.
  • ACA applicable to taxpayers in the current year.
  • Identify the impact to IRAs and rollovers as a result of TCJA.
  • CA Indexing & Filing
  • CA Conformity and NonConformity
  • CA Residency
  • CA Audit &  Administration
  • CA Payroll, Sales & Property Tax

California indexing, deductions, and limitations. Conformity and non-conformity with IRS
Rules. Explanation of, Build Back Better Act, Consolidated Appropriations Act, American Rescue Plan Cares Act, TCJA,  & SECURE Act. Definition and guidelines of California residents vs non-residents. Taxable income other State Tax Credit.
Domestic vs. Foreign Businesses for Corporations, LLC’s, and other business entities.

COVID-19 changes to CA audits and administration.

  • Understand changes to collection actions and appeals.
  • Understand changes to Penalties and Administrative Issues.
  • Understand Workers Classification CA style.
  • Understand the new collection requirements due to the Wayfair decision.
  • Understand issues involving the Cannabis industry.

 

Highlights include:

2021 California Edition Federal Tax Update, will Identify the timing and impact of key provisions new legislation including:

  • Build Back Better proposes changes to retirement plans.
  • Consolidated Appropriations Act 2021 makes changes for 2020 and 2021
  • American Rescue Plan Act changes in response to COVID-19
  • Third round stimulus payments are reconciled on 2021 returns
  • Child tax credit, childcare credit and earned income credit expanded by ARPA
  • ACA premium subsidies increased
  • IRA transfers to charity complicated by SECURE
  • Paying with virtual currency is a reportable sale
  • Elimination of alimony deduction affects all divorcing couples
  • Foreign asset reporting still on exam hit list
  • Recent cases and rulings highlight IRS Audit
  • American Rescue Plan extends some provisions
  • Consolidated Appropriations Act 2021 makes changes to PPP Loan forgiveness, permits ERC for PPP applicants.
  • Consolidated Appropriations Act 2021 includes PPP2 loan draw
  • Consolidated Appropriations Act 2021 eases forgiveness applications for small loans and SBA opens loan portal
  • Excess business loss extended through 2026
  • NOLs carryforward in 2021
  • Qualified improvement property “glitch” fixed
  • Cannabis sales taxed
  • Limitation on business interest deduction is 30% of EBITDA
  • Business restaurant meals 100% deductible
  • Depreciation changes and luxury auto depreciation updated
  • QBI Deduction stays the same
  • Avoiding Obamacare form 226-j penalties

Learning Objectives

Upon successful completion of this course, participants will be able to identify the timing and impact of key provisions new legislation including:

  • The Build Back Better Act, Consolidated Appropriations Act, American Rescue Plan Cares Act, TCJA,  & SECURE Act.
  • Identify ACA changes applicable to taxpayers in the current year.
  • Understand the the impact to IRAs and rollovers as a result of TCJA.
  • Review CA Indexing & Filing
  • Identify CA Conformity and NonConformity
  • Review CA Residency
  • Identify CA Audit & Administration procedures
  • Understand CA Payroll, Sales & Property Tax changes and how it will taxation

Course Specifics

Course ID
WC1821260229-1
Prerequisites

None

Advanced Preparation

None

Compliance information

NASBA Provider Number: 103220
IRS Federal Tax Update Credits: 0
CFP Provider Number: 3199
CFP Course Number: 297879
CTEC Provider Number: 2071
CTEC Course Number: 2071-CE-1680
CTEC State Credits: 3

Course Instructor

Sharon Kreider Headshot
Sharon Kreider, CPA

Sharon Kreider, CPA, has helped more than 15,000 California tax preparers annually get ready for tax season. She also presents regularly for the AICPA, the California Society of Enrolled Agents, CCH Audio, and Western CPE. You’ll benefit from the detailed, hands-on tax knowledge Sharon will share with you—knowledge she gained through her extremely busy, high-income tax practice in Silicon Valley. With her dynamic presentation style, Sharon will demystify complex individual and business tax legislation. She’s a national lecturer for business and professional groups and consistently receives outstanding evaluations. In 2014, she was awarded the prestigious AICPA 2014 Sidney Kess Award …

Sharon Kreider, CPA Read More »

Karen Brosi Headshot
Karen Brosi, CFP, EA

Karen Brosi, CFP, EA, has an extensive California tax practice, advising clients in individual tax and family wealth planning, specializing in complex individual income tax matters and all types of securities transactions. Her background as a CFP and as a tax preparer for the wealthy makes her particularly effective in the tax and financial planning arenas. Karen teaches tax professionals how to avoid tax minefields with her extensive planning checklists and practical tips. Besides being one of the most prominent California tax update instructors, she’s a favorite interviewee on radio, television, and in print media, such as Bloomberg Businessweek. Karen’s powerful real-life …

Karen Brosi, CFP, EA Read More »

2021 California Federal Tax Update: California Update

CPE CREDITS
3 Credits: Taxes

$133.00


Webcasts are available for viewing Monday – Saturday, 8am – 10pm ET.

Icon_Webcast
Webcast
Icon_Level
Update
Credits
CPE Credits
3 Credits: Taxes

Course Description

Combining the real-life experience of a practicing CPA/EA with essential down-to-earth tax
materials in a high-tech format, this in-depth self-study course will enable participants to
grasp recent Federal and California tax changes. You’ll receive the most complete and up-to-date
course materials, written by renowned tax experts, Sharon Kreider and Karen Brosi.

Topics include:

  • The Build Back Better Act, Consolidated Appropriations Act, American Rescue Plan Cares Act, TCJA,  & SECURE Act.
  • ACA applicable to taxpayers in the current year.
  • Identify the impact to IRAs and rollovers as a result of TCJA.
  • CA Indexing & Filing
  • CA Conformity and NonConformity
  • CA Residency
  • CA Audit &  Administration
  • CA Payroll, Sales & Property Tax

California indexing, deductions, and limitations. Conformity and non-conformity with IRS
Rules. Explanation of, Build Back Better Act, Consolidated Appropriations Act, American Rescue Plan Cares Act, TCJA,  & SECURE Act. Definition and guidelines of California residents vs non-residents. Taxable income other State Tax Credit.
Domestic vs. Foreign Businesses for Corporations, LLC’s, and other business entities.

COVID-19 changes to CA audits and administration.

  • Understand changes to collection actions and appeals.
  • Understand changes to Penalties and Administrative Issues.
  • Understand Workers Classification CA style.
  • Understand the new collection requirements due to the Wayfair decision.
  • Understand issues involving the Cannabis industry.

 

Highlights include:

2021 California Edition Federal Tax Update, will Identify the timing and impact of key provisions new legislation including:

  • Build Back Better proposes changes to retirement plans.
  • Consolidated Appropriations Act 2021 makes changes for 2020 and 2021
  • American Rescue Plan Act changes in response to COVID-19
  • Third round stimulus payments are reconciled on 2021 returns
  • Child tax credit, childcare credit and earned income credit expanded by ARPA
  • ACA premium subsidies increased
  • IRA transfers to charity complicated by SECURE
  • Paying with virtual currency is a reportable sale
  • Elimination of alimony deduction affects all divorcing couples
  • Foreign asset reporting still on exam hit list
  • Recent cases and rulings highlight IRS Audit
  • American Rescue Plan extends some provisions
  • Consolidated Appropriations Act 2021 makes changes to PPP Loan forgiveness, permits ERC for PPP applicants.
  • Consolidated Appropriations Act 2021 includes PPP2 loan draw
  • Consolidated Appropriations Act 2021 eases forgiveness applications for small loans and SBA opens loan portal
  • Excess business loss extended through 2026
  • NOLs carryforward in 2021
  • Qualified improvement property “glitch” fixed
  • Cannabis sales taxed
  • Limitation on business interest deduction is 30% of EBITDA
  • Business restaurant meals 100% deductible
  • Depreciation changes and luxury auto depreciation updated
  • QBI Deduction stays the same
  • Avoiding Obamacare form 226-j penalties

Learning Objectives

Upon successful completion of this course, participants will be able to identify the timing and impact of key provisions new legislation including:

  • The Build Back Better Act, Consolidated Appropriations Act, American Rescue Plan Cares Act, TCJA,  & SECURE Act.
  • Identify ACA changes applicable to taxpayers in the current year.
  • Understand the the impact to IRAs and rollovers as a result of TCJA.
  • Review CA Indexing & Filing
  • Identify CA Conformity and NonConformity
  • Review CA Residency
  • Identify CA Audit & Administration procedures
  • Understand CA Payroll, Sales & Property Tax changes and how it will taxation

Course Specifics

Course ID
WC1821260229-1
Prerequisites

None

Advanced Preparation

None

Compliance information

NASBA Provider Number: 103220
IRS Federal Tax Update Credits: 0
CFP Provider Number: 3199
CFP Course Number: 297879
CTEC Provider Number: 2071
CTEC Course Number: 2071-CE-1680
CTEC State Credits: 3

Course Instructor

Sharon Kreider Headshot
Sharon Kreider, CPA

Sharon Kreider, CPA, has helped more than 15,000 California tax preparers annually get ready for tax season. She also presents regularly for the AICPA, the California Society of Enrolled Agents, CCH Audio, and Western CPE. You’ll benefit from the detailed, hands-on tax knowledge Sharon will share with you—knowledge she gained through her extremely busy, high-income tax practice in Silicon Valley. With her dynamic presentation style, Sharon will demystify complex individual and business tax legislation. She’s a national lecturer for business and professional groups and consistently receives outstanding evaluations. In 2014, she was awarded the prestigious AICPA 2014 Sidney Kess Award …

Sharon Kreider, CPA Read More »

Karen Brosi Headshot
Karen Brosi, CFP, EA

Karen Brosi, CFP, EA, has an extensive California tax practice, advising clients in individual tax and family wealth planning, specializing in complex individual income tax matters and all types of securities transactions. Her background as a CFP and as a tax preparer for the wealthy makes her particularly effective in the tax and financial planning arenas. Karen teaches tax professionals how to avoid tax minefields with her extensive planning checklists and practical tips. Besides being one of the most prominent California tax update instructors, she’s a favorite interviewee on radio, television, and in print media, such as Bloomberg Businessweek. Karen’s powerful real-life …

Karen Brosi, CFP, EA Read More »

2021 California Federal Tax Update: California Update

CPE CREDITS
3 Credits: Taxes

Webcasts are available for viewing Monday – Saturday, 8am – 10pm ET.

$133.00