Federal & California Tax Update CPE

What You'll Learn in Our Federal and California Tax Update

Individual Tax Topics

• What Trump tax reform means to individual clients.
• A review of expired provisions.
• Tax problems faced by divorced couples.
• 20% Capital Gain rate and NII tax implications for high-income taxpayers.
• FBAR, FATCA and FFI reporting -- what you need to know.
• Recent tax court rulings on noncash donation substantiation.
• Changes to Education Credit rules.
• Tougher rules for EITC compliance.
• What ACA repeal and replacement means to individual clients.
• Why self-directed IRAs get more attention from the IRS.
• Tax issues for Airbnb rentals.
• Implications when converting a vacation home to rental activity.
• Six estate planning questions to ask your clients.
• Estate and gift tax threshold updates.
• Form 8971 estate reporting requirements.
• Final regulation on Portability Election.

Business Tax Topics 

• What Trump tax reform means for our business clients.
• The 13 business activities sure to interest IRS auditors.
• Cautions for withdrawing or receiving cash payments of $10,000 or more.
• Taxing medical marijuana -- the facts.
• Deductions you need to know, including: conference fees, travel expenses, cell phones, and more.
• Section 179 Expensing Election for qualified real estate.
• Improving a building and writing off a portion of the original cost.
• R&D credit expanded for small business -- and how to use it against payroll taxes.
• New law starts for medical expense reimbursement plans (HRAs) in 2017.
• What ACA repeal and replacement means for our business clients.
• Prohibited transactions to avoid.
• Forms W-2s and 1099-MISC due date change problems.
• Why the Trust Fund Recovery Penalty is hard to escape.
• Partnership audit process changes for 2018. 
• When an LLC member is subject to SE Tax.

Plus

• IRS Due diligence requirements in 2017.
• What to do when identity theft happens to your client.
• A warning on new phishing and phone scams aimed at tax preparers.
• The increases in Letter Ruling Fees.
• How to be ready with client verification when calling the IRS.
• The Top 10 most litigated tax issues last year.
• How to reduce amount when the IRS reconstructs income using the bank deposit method.
• When Innocent Spouse Relief can be used.
• A full review of recent case rulings and regulations that impact you and your clients, with source citations.

California

• Conformity and nonconformity including those arising from the Trump tax reform proposals.
• The future of covered California after ACA's repeal and replacement.
• Resident and nonresident issues
• Updates for California payroll and property taxes.