CPE Hours: 8 ( Federal:8 )
Publication Date: November 2019
Prerequisites: Overview of Federal Income Taxation or comparable knowledge. No advance preparation needed.
Delivery Method: Group-Live
Date: Tuesday, November 19, 2019
2323 Grand Canal Boulevard
Stockton, CA 95207
Click here for directions to the event.
Total CPE Hours - 8 hours live Federal Taxation
(The CPE counts as 3 hours Federal Tax Update and 5 hours of Federal Tax Subjects for CTEC Registered Preparers)
Learning Objectives: After attending the seminar, the student will be ready to prepare individual 2019 tax returns. The course will fine-tune the skills of practitioners who wish to provide their clients with superior preparation and planning services. A must course for serious Certified Public Accountants (CPAs), Enrolled Agents (EAs) and California Registered Tax Preparers (CRTPs).
What we will cover in our tax review & update seminar: We will focus our presentation on the changes brought to us by the passing of the “Tax Cuts and Jobs Act.” The seminar agenda will cover all of the new law changes you will need to master before tax season, including Section 199A business deduction, worker classification issues, SALT tax planning strategies and much more. We will update the planned agenda on this page at a future date.
As with any normal year, there will be court cases, revenue rulings, revenue procs, new regulations, Chief Counsel Rulings, and legislation changes, all of which we will monitor throughout the year and include in our November seminars.
The following is just a sample of what we include in this year’s presentation…
Rentals, the 199A Deduction – Learn when rentals are eligible for the Sec 199A pass-through deduction, even when they do not meet the IRS’s safe harbor, backed up by numerous court cases for various situations. Learn how to handle 199A losses and 199A loss carryovers. Learn what makes an activity a specified service trade or business.
Interest Tracing Rules – how and when debt can be traced so the interest can be deducted. Includes refinanced debt, home equity debt, trade or business debt, investment debt, etc., with numerous on-point examples.
Reasonable Compensation – The advent of the 199A deduction has brought renewed scrutiny on reasonable compensation for S corporation shareholders, both from the aspect of payroll taxes and the pass-through deduction. Plus, preparers can be liable for significant penalties.
State Tax Refunds – We’ll cover the IRS revenue ruling explaining how the SALT limitation on 2018 returns will affect the taxation of state tax refunds received in 2019.
Trading in Virtual Currency – The IRS is coming down on those who have failed to report virtual currency transactions. Learn how to report virtual currency transactions. Then get out the amended tax return forms.
California TCJA Conformity – California Assembly Bill 91 brings CA into conformity or near conformity with selected TCJA provisions including simplified accounting, NOLs, tax deferred exchanges, excess business losses, Sec 529 plan changes, ABLE accounts, higher education loan forgiveness, and added a new California Young Child Tax Credit. But as can be expected there are subtle (and some not so subtle) differences that will be covered in the seminar.
Independent Contractor Issues – The Gig Economy is creating more and more issues with whether a taxpayer is an employee or independent contractor. The seminar will bring you up to speed on the current conflicting court cases and other issues.
Interest and Loss Limitations – Many preparers have overlooked the TCJA’s limit on business losses and the amount of interest businesses can deduct. Learn how they might affect your clients.
New Medicare Waiver Payment Treatment – Learn how a recent tax court case may have opened an opportunity to claim EITC.
New CalSaver’s Retirement Plan – Learn how it affects California Employers
California’s Is Getting into the ACA Business – Learn how California will be supplementing the premium tax credit and imposing a penalty for not being insured. More work when preparing CA returns.
Airbnb, VRBO and HomeAway Short-Term Rental Issues – Learn how to properly report short-term rentals, room rentals and other unique rental issues.
Non-Military Spouse State of Residence Election – Learn how a non-military spouse can elect the military spouse’s state of residence and save on state taxes.
- And that is not all – We will cover pending tax legislation and issues of current interest.
Tax Review and Update Seminar Series: It took over 30 years to get a major revamp of the tax code. Added complexity means a greater need for quality continuing education and support. The 2019 ClientWhys 8-hour live tax reform and update seminar program is sure to impress. Tax laws change, as with that tax professionals need to guide clients through new strategies to maximize their financial return. From business entity selection, pass-through entity tax calculations, to employee / independent contractor issues, taxpayers need your advice more than ever.
We have tackled all of the major issues head-on, as we have updated our Big Book of Taxes with all of the new law. The highly rated desktop edition is available to all seminar attendees and includes over 1,000 pages of tax reform update and review. The Big Book of Taxes is a time-saving reference year round.
Each attendee will be provided with a condensed printed version of the Big Book of Taxes for easier classroom study, a digital version of the full text for their computers, and new for this year, a tablet version of the full text. Those desiring a full 900-plus page printed version of the Big Book of Taxes may order one for an additional $75 plus applicable shipping and sales tax.
ClientWhys is an approved provider for IRS, NASBA QAS, CTEC and the Oregon Tax Preparer Board providing continuing education for CPAs, EAs, IRS and CRTPs.
Our A-Team speakers include Lee Reams, EA and Art Werner, JD. We take special care to include the latest law and procedural changes, revenue rulings, form changes and practical advisories in our seminar. We also develop a list of troublesome areas from which we receive frequent technical calls and include them in the presentation. Our unique seminar text includes integrated California provisions and differences and is so complete and well-organized that many practitioners use it as their primary tax season reference. The text also highlights tax strategies that will benefit your clients and make you a hero. Find out for yourself why our students scored our textbook 94 out of 100 in a recent survey. Please join us this coming Fall. You will not find another seminar that provides you with as much practical and useful information!
Do you need additional CPE? Here are some options:
2-hours in Ethics and Professional Conduct
5-hours of California Differences
3-hours of Federal Tax Update
Schedule: Classes are scheduled from 8:00 a.m. - 4:30 p.m., with a 1-hour lunch break.
Seminar Material: Seminar text, handouts, badges and other materials will be available to pick up at 7:30 a.m. You may wish to bring a writing instrument, highlighter, and breakfast snack.
Meals: ClientWhys Seminars provides a complete lunch.
Refund Policy: Refunds will be granted only if requested at least ten days before the seminar begins; 10% of the fee will be withheld from all refunds. We will be happy to transfer your registration to another location, space permitting, if you request the change at least ten days prior to the seminar date. There is a $15 transfer fee. Cancellations within 10 business days of the seminar date can only be credited to your account for a future seminar date. No exceptions. Sorry, no tape recording permitted. For more information regarding administrative policies such as complaint and refund, please contact our offices at (800) 442-2477 Ext. We reserve the right to change or alter locations and schedules.
For accreditation purposes, the system cannot accommodate multiple registrations per order. Each student must enter their own registration with a unique email address.