In This Issue...

1. From the President
2. May Events
3. Upcoming CSTC Seminars
4. 2021 Annual Business Meeting
5. Register Now for the 2021 Summer Symposium!
6. Free Credit Check - A Message from the CSTC 2nd Vice President
7. Welcome New CSTC Members
8. Upcoming CSTC Board of Directors Meeting
9. Legislative Advocacy
10. News from the IRS
11. Join CSTC!

CSTC Member Benefits

CSTC members have access to benefits such as free payroll processing services for your tax practice, and the opportunity to earn new revenue through their flexible partnership options.

CSTC is pleased to include the VeriFyle ProTM premium secure online document and message sharing service at no cost to CSTC members!

Wolters Kluwer: Discounts on Tax, Accounting & Audit Resources, Software, Information & Services. 

 CSTC members receive the TaxBook WebLibrary at a special price

Other Member Benefits Include:

$ Savings on all Society Educational Events

$ Savings on Contact, Correspondence & Self Study Education

$ Savings with member specialty CSTC Connects (previouslyYellow Pages) list

$ Savings with E & O Insurance, plus specialty coverage relevant to your profession

$ Online CSTC Find-a-Tax Consultant search to help promote your business!

$ CSTC Member Listserv

Office Depot has partnered with us to provide exclusive savings in-store and online, plus fantastic additional benefits. This program is all about providing preferred pricing to our clubs, and the savings extend to almost every item.

Savings include 20% to 55% off item office supply core list, 20% to 55% off retail on cleaning  & break room items, 10% off branded; 20% off private brand  ink & toner core list, Average 10% off  retail on 200 technology core items, Free next-day shipping on orders of $50 or more, and SIGNIFICANT savings on copy & print. Become a CSTC member to sign up for our Office Depot Small Business Savings Program, administered by Excelerate America.

We are a professional full-service tax advisory firm in San Diego. Our goal is to provide a level of service for our clients that will exceed expectations in every possible way. We strive to offer a diverse level of services to meet the needs of the diverse community we have been working in for more than 30 years.

TaxMama's® EA Exam Course prepares tax professionals to do so much more than just pass the IRS' Special Enrollment Examination. This is an in-depth course that teaches tax law from the ground up. It explains how tax returns work, with examples of basic 1040s, Schedule Cs, 1065s, 1120s, and 1120Ss; you learn tax law, tax research, client representation for audits, appeals and collections. 

If you are interested in buying or selling a practice, contact us today! ATB is operated by Enrolled Agents ensuring a complete understanding of our profession. Please give us a call at (855) 428-2225 or visit us online at www.ATBCAL.com for more information and to view our current listings.
CA DRE 02002824

CSTC Mission Statement

CSTC advances professionalism within the tax industry by:

• Providing quality education

• Creating networking opportunities

• Advocating professional standards

From the President
FINISH STRONG

Struggling to keep his head above water, he could see the shore. Just a few more minutes of swimming and he would reach dry ground. After what seemed much longer than it really was, the water was shallow enough to walk out. As soon as he touched the sand he ran to his bike, put on his shoes and helmet and began to ride hard. Wow, biking was more like it. Now he was getting somewhere. Swimming was awful, slow, and left his shoulders burning. Eight miles into the ride with quads on fire and the end in sight, he ignored his fatigued legs and stood on the pedals to pass the two guys ahead. Around the corner he slammed his bike back onto the rack and started to run. Or at least he tried to. What was happening? Running made his legs feel swollen and heavy compared to biking. He was barely moving. It seemed as if he were in slow motion. Focusing on the runners ahead helped him push past the leg pain and finally get going at a decent pace, but there were miles to go. The big left turn ahead merged into a straight segment with more runners. After passing several competitors and making the final left turn, he could see the finish line 75 yards ahead. Ignoring his complaining legs, he sped up and barely passed a guy a split second before he crossed the finish line. Thirty minutes later while standing on the top of the podium with a first place plaque in hand, he realized that months of training combined with that final push to the finish line made the difference. 

You have likely guessed that it was me that won the race. The event was for Varsity Boy Scouts and their leaders to compete based on age group in a sprint-style Triathlon. For years the boys and I had been competing in the event and I had received 2nd and 3rd places, but never 1st. The extra effort of training and the final push paid off. It was cool! It was worth it!

What is it that makes us go harder when we can see the finish line? What is it about completing a task that inspires us? Much like shooting an arrow at a target versus just shooting it into the sky, there is something in each of us that drives us toward measurable goals or targets. We are programmed that way. The tax industry is especially full of targets and deadlines, “finish lines'' of sorts. Some of them are set by statute, some of them are set by good business practices.

Right now most of you are pushing harder than at any other time of the year toward the May 17 deadline. It’s not the last deadline, but it is the next one and you have it in your sights. Your success this year could depend on how well you do as you approach that finish line. You have prepared and trained for years by taking online classes, participating in CSTC forums, and researching the law. You are an expert in your field. You’ve done this before. Keep pushing!

Soon the big deadline will be behind us and we will be able meet together to learn and share and grow. I am looking forward to a year where the effects of Covid-19 will fade into memories and we will be able to shake hands again!

Thank you for being a part of CSTC and contributing your knowledge, experience, and good attitude to make CSTC a better organization. I am happy to work together with you in our quest to “improve the tax industry one professional at a time.”

Finish strong! 

Your friend,

Gary Quackenbush
CSTC President

Calendar of Events
May 2021

May 19, 2021

Topic: Ethics
Orange County Chapter Virtual Meeting
2 Ethics Hours (Topics meeting the ethics requirements under Cir 230)
Click here to learn more and register

Topic: IRA Fundamentals & The SECURE Act
Inland Empire Chapter Virtual Meeting
2 Federal Update Hours (Topics covering new tax laws)
Click here to learn more and register

May 20, 2021

Topic: Problems Solved… Those Perplexing Tax Issues From the 2020 Tax Return
North County San Diego Chapter Virtual Meeting
2 Federal Tax Update Hours (Topics covering new tax law)
Click here to learn more and register

May 25, 2021

Topic: TBA
Sacramento Chapter Virtual Meeting
Hours TBA
Click here to learn more

Click here to view the CSTC calendar.

Upcoming CSTC Seminars

Wednesday, May 19, 2021

Credit Harvesting: Did Your Clients Get Their Share?
Speaker: Jane Ryder, EA, CPA

2 Federal Update Hours (Topics covering new tax laws)

10:00 AM to 11:40 AM
Member: $30 / Nonmember: $65

The COVID19 employer credits for paid sick leave paid family leave and employee retention are eligible for refunds retroactively by filing amended payroll tax returns. Even if you don't prepare payroll taxes, understand how to determine what your client is eligible for and they can request amended payroll tax returns from their payroll service to receive refunds of payroll taxes paid. And, these amended returns will not affect the W2s!

Tuesday, May 25, 2021

PPP Loans: Applying for Forgiveness
Speaker: Jane Ryder, EA, CPA

2 Federal Update Hours (Topics covering new tax laws)

10:00 AM to 11:40 AM
Member: $30 / Nonmember: $65

The work we need to do to help our clients with PPP loan forgiveness is probably not quite as daunting as we first thought but we can make it even easier with these rules and suggestions for the forgiveness application process.
· Learn about the new automatic, no substantiation required forgiveness application.
· For businesses submitting the regular application get our worksheets and sample reports for easy substantiation of expenses.
· Find out who may have to repay some of the PPP funds even if they use the loan proceeds correctly; possible headcount or EIDL grants effect on loan forgiveness.

Thursday, June 3, 2021

IRA Fundamentals & The SECURE Act
Speaker: Frank Acuña, Attorney at Law

2 Federal Update Hours (Topics covering new tax laws)

10:00 AM to 11:40 AM
Member: $35 / Nonmember: $70

Now that we have a “permanent” estate tax law, our clients’ attention has been diverted to other tax issues. Chief among these; how to reduce the income tax and estate tax burdens associated with Individual Retirement Accounts.

This class will provide an overview of income and estate taxation related to IRAs after the enactment of the SECURE Act. We will focus particularly on the loss of traditional “stretch planning” and how to work around the new 10-year distribution rule. Several techniques exist that will increase the after-tax amount available as an inheritance to charities, children, grandchildren, and others. Finally, we will highlight expanded services that tax professionals could offer to their clients for this important aspect of tax planning.

CSTC Annual Business Meeting

Please join the California Society of Tax Consultants for the Annual Business Meeting on June 9, 2020 at 3:00 PM. This will be a virtual event via Zoom. The purpose of the Annual Business Meeting is for members to receive a report of the activities of the current year and install the new 2021-2022 Board of Directors. CSTC will also be honoring the CSTC Member of the Year, CSTC Chapter of the Year, and thank the leadership for their exemplary efforts in making our Society great. Please click the link below to register!

CSTC Members only

Schedule-at-a-Glance

Registration Information and Fees

CLICK HERE TO LEARN MORE AND REGISTER!  

ANNUALCREDITREPORT.COM

A Message from the 2nd Vice President

Most tax pros are aware that individuals may check their credit report free, once each year, and from each of the three credit bureaus (Experian, Equifax, and TransUnion).

DID YOU KNOW…

During the Covid pandemic, individuals may check their credit report free every week?  I didn’t know that; check it out using the link below.

The FTC has a downloadable pdf you may wish to offer – perhaps as part of ‘your’ monthly newsletter.

Click here to visit the FTC webpage on how to order your ABSOLUTELY free, no conditions, credit report.

Respectfully submitted,

Jen Horton
2nd VP Membership

Welcome New CSTC Members!

Please help us in joining our newest CSTC Members!

Mav Bressette
South Orange County Chapter

Raul Garza
Los Angeles Chapter

Mark Taylor
Inland Empire Chapter 

Upcoming CSTC Board of Directors Meeting

When: May 24, 2021 - 9:00 AM to 12:00 PM

Where: Virtual via Zoom

Who: Chapter Leaders are able to access the Board packet and Zoom information via the Leadership Center. Any other members of the California Society of Tax Consultants is permitted to attend the Board meeting. If you are a CSTC member and would like to attend the Board meeting, please email [email protected] for the Zoom meeting login information.

Legislative Advocacy

CSTC has been the leading Association in supporting legislation to provide protection for our profession, to support our profession, and to enhance our profession. CSTC continuously leads our industry through legislative advocacy, educational opportunities, and professional inclusion.

CSTC works closely with a Legislative Consultant to keep an eye on important bills that would affect taxpayers and small business owners.

Please click here to view the bills that CSTC is currently monitoring.

Join the California Society of Tax Consultants!

Click here to fill out an online application.

CSTC advances professionalism within the tax industry by:

• Providing quality education
• Creating networking opportunities
• Advocating professional standards

California Society of Tax Consultants | 320 Pine Ave, Suite #1050, Long Beach, CA 90802
Phone (949) 715-4192 | [email protected]