In This Issue...

1. From the CSTC President
2. Practice Tips from Members
3. Call for 2022 Summer Symposium Speakers
4. September Events
5. Register Now for the Wednesday Webinar Series
6. Register Today for the Virtual 60 QE Course!
7. 2022 Running Start
8. Welcome New CSTC Members
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
Summertime and the livin' is easy...

I enjoy the summer months – the living really is easy and the pace is so much slower. Sure, there are still tax returns to prepare, clients’ questions to field, and IRS notices to respond to, but everything’s more mellow, more relaxed. There’s time to visit with family and friends, time to catch up, time to do nothing at all.

Time to dream of those trips I long to take. Time to plan to see those far-away family members I haven’t seen for so long. Time to start my next landscaping project.

There’s time to review my business. Now when the phones are quiet and there’s less urgency, I can look back at tax season with a clearer mind. What were the bottlenecks this past season? What processes need to be revised? If each year I can improve my systems and get a little more efficient, then hopefully I’ll be better prepared for those external events I can’t control, like last-minute tax law changes or COVID-19.

Time to explore my professional life. Are there areas I need to learn more about? There are so many webinars available now through CSTC with the Wednesday Webinars and virtual chapter meetings. Am I taking advantage of them to fill in any gaps?
And time even to consider CSTC. How are we doing as a society? Are we meeting our goals? Are we meeting our members’ expectations? This year we're transitioning to the Carver Method of Governance, a big step towards fulfilling that goal made over five years ago.

I hope you too are enjoying this time before things get crazy again – time to relax, to reflect, to dream. Time when the living is easy….

Linda Dong, EA
CSTC President

Practice Tips from Members

Last month in the From the President column, I (Linda Dong) invited our members to send me any practices they have that help their businesses run smoothly. Several members responded, so each month we will share some of these practices with all our members.

I personally like to read tips on many subjects. Some I reject out of hand, some are things I already do, and most are mildly interesting. But every so often, I read that one tip that is pure genius. One little tip that revolutionizes that aspect of my life. So we present these tips to you with the hope that they will interest, inspire, and even revolutionize some aspect of your practice. We hope that, as you read and are inspired by other members’ tips, you will also send in your own tips. Let’s really be those who care to share.

Our Retention
From Dennis Frankeberger

We have a practice since the last couple of years, after a ransom attack, to offload all historical electronic files.  Like you, we had all paper files more than 5 years old set for shredding. 

Most all of our files are now electronic with few exceptions.  Again like you, it was/is hard to transfer long-term clients. 

Our answer is to transfer all more than 5-year-old electronic files to an external hard drive.  In addition, all former clients’ files are also transferred to that hard drive.

We have had a robust Litigation/Valuation practice over the years so we maintain those files for 10 years on a separate external hard drive. 

Annual maintenance for these policies is easy to perform if you follow your own rules.

What is harder to maintain are research files, newsletters, old communication etc.  We tend to delete any of these files when we run across them.

Final comment, my partner maintains a complete copy of the external hard drives, while we maintain the originals in our safe deposit box at our bank. External hard drives can store so much data that we have but 4 so far covering a plethora of years.

Call for 2022 Summer Symposium Presenters

The California Society of Tax Consultants (CSTC) provides quality tax education for tax professionals, including CTEC-registered preparers, Enrolled Agents, CPAs and attorneys. CSTC’s premier education event is the Summer Tax Symposium.

The 2022 Symposium will be a live event in Reno, NV held June 12 through June 15, 2022. CSTC is looking for speakers to share their tax knowledge and expertise with their peers and colleagues.  Seminar sessions are two- or four-hour classes that provide attendees with information about the topic as well as practical applications they can put to use in their practices.

We are accepting submissions in all areas of taxation including:

• Current tax updates
• Individual tax
• Businesses
• Exempt Organizations
• Trusts and Estates
• California Tax
• Representation
• Other topics related to taxation

While this is a live event, there may be a virtual component, as well as a webinar series to be held throughout the year, so please feel free to submit even if you prefer not to attend a live event and your submission will be considered for virtual events.

Please CLICK HERE to fill out the Call for Presenters Form in its entirety. 

Calendar of Events
September 2021

September 1, 2021

Topic: New Federal Tax Forms for 2021
Temecula Valley Chapter In-Person Meeting
2 Federal Law hours (Topics covering existing tax law)
Click here to learn more and register

Topic: California Tax Updates - 2021
San Francisco Bay Chapter Virtual Meeting
2 California hours (Topics covering California law issues)
Click here to learn more and register

September 2, 2021

Topic: Code Breakers: Tax Research For The 21st Century
San Gabriel Valley Chapter In-Person Meeting
2 Federal Law hours (Topics covering existing tax law)
Click here to learn more and register

September 8, 2021

Topic: Tax Preparer Security Awareness
Orange County Chapter In-Person Meeting
2 Federal Law hours (Topics covering existing tax law)
Click here to learn more and register

September 9, 2021

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

September 10, 2021

Topic: Tax Controversy in the Midst of Covid-19
East County San Diego In-Person Chapter Meeting
2 Federal Law hours (Topics covering existing tax law)
Click here to learn more and register

September 13, 2021

Topic: Navigating Through Form 990 “A Step by Step Guide”
Orange County South Chapter In-Person Meeting
2 Federal Law hours (Topics covering existing tax law)
Click here to learn more and register

September 15, 2021

Topic: Choosing or Changing A Business Entity
Inland Empire Chapter Virtual Meeting
2 Federal Law hours (Topics covering existing tax law)
Click here to learn more and register

September 22, 2021

Topic: California Tax Updates 2021
San Jose Chapter In-Person Meeting
2 California hours (Topics covering California law issues)
Click here to learn more and register

September 28, 2021

Topic: Two-Part Meeting: S Corporations and Form 1120S and You think you are done with Tax Season?
Central Valley Chapter HYBRID* Meeting
Part One: 3 Federal Law Hours (Topics covering existing tax law) and 1 California hours (Topics covering California law issues)
Part Two: 2 Federal Law Hours (Topics covering existing tax law)
Click here to learn more and register

*Hybrid: Attendees have the option to either attend this meeting in-person or virtually via Zoom.

September 29, 2021

Topic: Employee Stock Options
Greater Long Beach Chapter In-Person Meeting
2 Federal Law hours (Topics covering existing tax law)
Click here to learn more and register

Click here to view the CSTC calendar.

CSTC education is designed for CTEC preparers, Enrolled Agents, CPAs, and attorneys and to fit the needs of all – from new preparers to highly experienced tax professionals. With one of the most affordable price points for educating tax professionals, we encourage you to explore how the CSTC Academy should be a must-attend for 2021. This webinar series will take place every Wednesday starting July 14 through November 10, 2021 excluding September 15, October 13, November 3. 

We encourage you to explore our exceptional lineup of topics and speakers and give CSTC priority access to meeting your continuing education needs for 2021.

THANK YOU TO OUR 2021 WEDNESDAY WEBINAR SPONSORS

Schedule-at-a-Glance

Registration Information and Fees

 
CLICK HERE TO LEARN MORE AND REGISTER!

Register TODAY for the Live Virtual 60 Hour QE Course by CSTC!

Class Information:
Basic skills for preparation of individual income tax returns will focus on beginners who want to become tax preparers Classroom presentation, homework and exams combine to ensure you will be able to handle most commonly encountered tax situations. Education materials are provided by the Income Tax School. 

Homework assignments, mid-term and final exams must be completed to receive credit. Attendance is mandatory and will be strictly enforced.

*60 Hours of education is required to become a registered tax preparer in California.

Upon successful completion of this course, you will be able to:

• Prepare most individual tax returns
• Perform a thorough interview with a taxpayer
• Determine a taxpayer's filing status and eligibility for exemptions
• Accurately report income and deductions for a taxpayer
• Determine a taxpayer's eligibility for credits and deductions
• Complete Schedules C-EZ, C and E
• Compute depreciation for assets and eligibility for Section 179
• Accurately calculate a taxpayer's refund or balance due
• Advise a taxpayer in tax planning strategies
• Become a California CTEC Registered Tax Preparer if you completed the state supplement with this course for that specific state.

Class Dates and Time:

September 20th, 23rd, 27th, 30th

*October 4th, 7th, 18th, 21st, 25th, 28th
*NO CLASS the week of October 11-15 for the completion of Tax Season.

*November 1st, 4th, 8th, 11th, 15th, 18th, 22nd, 29th
*NO CLASS  on November 25th 

December 2nd, 6th, 9th, 13th

Time: 3:00 pm to 6:00 pm - Monday and Thursday Evenings

Location:

Online via Zoom. You will receive the Zoom link in your confirmation email. 

Cost (Books Included):

Member: $450.00
Non-Member: $525.00

Course Hours:

CTEC: 1000-QE-4699
45 Federal Law Hours
15 California Hours

CSTC’s 45th Annual Running Start Seminar
January 6, 7, and 8 2022

Hosted by the CSTC Region 4 Chapters:
San Diego, San Diego East County and San Diego North County 

Presented by Lisa Ihm and Ryan Reichert of Brass Tax Presentations 
(once again Lisa will graciously present her 2022 Update materials to our Members at the CSTC Running Start)

REGISTRATION COMING SOON!

Event Information:

Description:

Not just theory...Real-life application! All the latest news about how the CARES Act, the SECURE Act, the Disaster Act, and other recent legislation impact federal and CA tax returns, including new forms explained line-by-line.

Things you'll learn...

· Complete coverage of IRS & CA forms
· Latest news about the CARES Act, SECURE Act, Families First Relief Act, Disaster Act, and more...
· Reconciliation of advance payment (rebates) to stimulus credit 
· How does PPP discharge affect tax return? Are expenses paid with loan proceeds deductible?
· New forms with real-life examples to show you how to complete them
· Line-by-line calculations on new forms & worksheets
· CA adjustments calculated and illustrated on Form 540 Sch CA 
· Case studies – Client documents to completed tax return
· Court cases, revenue rulings, and more...
· Worksheets, flowcharts, and checklists to help you keep it all straight
· 400+ page manual mailed to you
· Free FAST FACTS reference card!
· NEW Free CA nonconformity reference card!
· Information you can use in the REAL WORLD!

Education materials and reporting provided by Brass Tax Presentations, LLC.

Pricing:

Presenters: Lisa Ihm, EA and Ryan Reichert, EA

Lisa Ihm, EA has been teaching seminars nationwide since 1986. Rather than simply reciting the rules, she breaks them down and uses a methodical approach to help you understand how tax laws will apply to taxpayers in the "real world". Then she digs below the surface to make you think about how tax laws affect your clients and how you can use those laws to your clients’ benefits. Her fast-paced, engaging style will make this seminar both informative and fun! She works and lives in Coronado, CA and can be reached by e-mail at [email protected] or through her website at www.BrassTax.com

Ryan Reichert, EA’s background in tax preparation, business, financial planning, and tax research make him especially equipped to tackle the interpretation of new tax legislation. He will cover the California conformity (or nonconformity) to this year’s new tax laws and let you know when a CA adjustment is needed and how to make it. His “CA Adjustments” desktop reference card will be a valuable resource for you next tax season.

CPE Information:

REGISTRATION COMING SOON!

Welcome New CSTC Members!

Please help us in joining our newest CSTC Members!

Robin Allington
Orange County- South Chapter

Mercedes Capillo
San Jose Chapter

Alfredo Chavira
Member-at-Large Chapter

David Ellis
San Gabriel Valley Chapter

Natisha Gatlin
San Francisco Bay Chapter

Allan Gliane
Orange County Chapter

Kara Halfman
Central Valley Chapter

Mary Herrera
Orange County Chapter

Anthony Herrera
Orange County Chapter

Kathy Huerta
Temecula Valley Chapter

Shiowfeng Liao
San Gabriel Valley Chapter

Marleny Martinez
San Jose Chapter

Roberta Maxwell
Los Angeles Chapter

Teresa Meserve
San Diego-North County Chapter

Barry Phillips
San Gabriel Valley Chapter

Christine Roa
Inland Empire Chapter

Eileen San Diego
San Francisco Bay Chapter

Sabrina Schulten
San Francisco Bay Chapter

Cheryl Vesely
San Francisco Bay Chapter

Marian Wetzel
San Jose Chapter

Elmer Zamora
Inland Empire Chapter

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 | PO Box 10, Manhattan Beach, CA 90267
Phone (949) 715-4192 | [email protected]