Annual Fall Tax Seminar - California Central Coast Society of

Annual Fall Tax Seminar
Presented by
Central Coast Chapter
California Society of Enrolled Agents
Thursday, October 27, 2016
Vicki Mulak, EA, CFP
Friday, October 28, 2016
Carol Thompson, EA
Business Potpourri
K-1 Proficiencies
Retirement Plans for the Self-Employed
Form 2106 - Employee Business Expense
Schedule B - Not Your Mother’s Form
Involuntary Conversions: Disasters and Casualties
The seminar location is at The Morro Bay Golf Course, 201 State Park Rd, Morro Bay, CA 93442. Space is limited so please
RSVP early to reserve your seat!! Your registration fee includes full breakfast and ocean view lunch both days, all inclusive.
Registration begins at 7:00 a.m. Breakfast begins at 7:15 a.m. The seminar is from 8:00 a.m. to 5:00 p.m.
SEMINAR RATES
EARLY BIRD
REGULAR
CSEA 2 days
$ 390.00
$ 440.00
Non Member 2 days
$ 450.00
$ 510.00
CSEA 1 day
$ 230.00
$ 255.00
Non Member 1 day
$ 260.00
$ 290.00
Important Dates:
 Friday, September 30 is the LAST DAY for early bird registration and to cancel with a full refund.
 Monday, October 17 is the LAST DAY to cancel with a refund, less a $50.00 cancellation fee.

Friday, October 21 is the LAST DAY to register for seminar.
LODGING
We have reserved a block of rooms under “Central Coast Enrolled Agents” at the 456 Embarcadero Inn, ranging in price from
$149 - $189 plus tax per night. This inn is 1.3 miles from the Golf Course Clubhouse, located at 456 Embarcadero in Morro Bay,
and is within walking distance of several restaurants. To reserve a room, call 805-772-2700 or 888-223-5777 and ask for Jim or
Christina. The cutoff date for guaranteed pricing is Monday, September 26th.
The Morro Bay Tourism Bureau has graciously provided a listing of hotels in the area. Hotels and motels offering a discounted
rate for this event, under the name “Central Coast Enrolled Agents”, list their room rate. Please contact the hotel directly, at the
number provided, to make your arrangements. The Inn at Morro Bay, located near the Golf Course, did not have a block of rooms
available to us.
Name
Direct
Toll Free
Address
Rates
Bayfront Inn at the Waterfront
805-772-5607
877-772-0072
1148 Front St
$109/night + tax
Best Western Plus San Marcos
805-772-2248
800-772-7969
250 Pacific St
$99 - $149
Blue Sail Inn
805-772-2766
800-971-6910
851 Market St
$100 - $190
Days Inn
805-772-2711
800-225-3297
1095 Main St
$69 - $79
La Serena Inn
805-772-5665
800-248-1511
990 Morro Ave
$99 - $129
Seaside Inn
805-772-3333
800-444-0782
1098 Main St
call
For information contact John Ozanich, EA
email: [email protected] or phone 805-541-1073
www.centralcoastea.org
Annual Tax Practice Seminar Registration Form
Please detach, complete, and mail, fax or email this form with your payment.
Please register me as an attendee for the Annual Tax Practice Seminar _____ Both days October 27 & 28, 2016
One day only, I am attending on
_____ Thursday, October 27
_____ Friday, October 28
I am including my payment of: $ ________________
I am eligible for the marked discount(s) ( ) CSEA Member ( ) Early Bird
My professional designation for CPE is: ( ) EA ( ) CPA ( ) CFP ( ) CTEC
My License No. ___________
PTIN No. ___________________________________________________________________________________________
Attendee Name: ______________________________________________________________________________________
Mailing Address: _____________________________________________________________________________________
City, State, Zip: ______________________________________________________________________________________
Phone:______________________________________________________________________________________________
Fax:________________________________________________________________________________________________
Email: ______________________________________________________________________________________________
Please complete the registration form above by including your full mailing address, phone number & email.
VISA and MasterCard or payment by check are accepted.
( ) Check Enclosed Payable to CCC-CSEA
( ) Charge my total to my: ( ) VISA ( ) MasterCard
Credit Card # ________________________________________________________________________________________
Exp. Date ___________________________________________________________________________________________
CC Billing Zip Code __________________________________________________________________________________
Signature ___________________________________________________________________________________________
Cardholder Name (if Different) __________________________________________________________________________
Mail to: John Ozanich, 44 Mariposa Dr, San Luis Obispo, CA 93401 or fax to: 805-544-2804 or email to: [email protected]
www.centralcoastea.org
Thursday, October 27, 2016
Vicki Mulak, EA, CFP
Vicki is also insurance and securities licensed. She's well-known for her CA tax law and
business entity focus. She testifies before the FTB in Sacramento and is involved in state tax
legislation, attending Assembly and Senate committee hearings as necessary. She currently
serves on the FTB Advisory Board and the EDD’s Small Business Employer’s Advisory
Committee.
Vicki was editor of the PPC Accounting Quickfinder book from 2005-2012. In August 2012
she received NAEA’s Bill Payne Advocacy Award. In 2011, Vicki was awarded the Distinguished Service
Award for enhancement of CSEA’s reputation. In 2006, she received CSEA’s prestigious Thomas P Hess
Award in recognition of contributions to their educational goals.
Vicki received her BS in Business Administration from Thomas Edison State College in New Jersey.
Business Potpourri:
This session will highlight and update practitioners on various aspects of business tax law affecting soleproprietorships, partnerships, corporations and their owners.
Emphasis will be given to problem areas as well as current trends and newer developments.
Learning Objectives:
 Identify common business tax issues and how to manage them.
 Understand how basis and loss limitations function in various entity types.
 Understand differences in closing each entity type.
IRS Program Number: WZA09-T-01793-16-I
Qualifies for 4 Hours Federal Tax Topics
CTEC Number: 1001-CE-8220
8:00 a.m. - 12:00 p.m.
K-1 Proficiencies:
This session will concentrate on the transfer of flow-through items to Form 1040 from two types of K-1s: the
1065 K-1 from a business operated as a partnership or LLC, and the 1120S K-1 received from S
corporations. This class is well-suited for the practitioner seeking to enhance capabilities in this area for a
best practices approach to pass-through income.
Learning Objectives:
 To recognize the correct manner for transfer of various items reported on Schedule K-1.
 To accurately utilize the 3 levels of loss limitation and recognize taxable distributions reported on
Form K-1.
 To comprehend impact of liabilities on the participants basis in the flow-through entity.
 To gain competency in issues affecting the “Final” K-1s.
IRS Program Number: WZA09-T-01794-16-I
Qualifies for 2 Hours Federal Tax Topics
CTEC Number: 1001-CE-8221
1:00 p.m. - 3:00 p.m.
Retirement Plans for the Self-Employed:
This session will review the main aspects of common retirement plans for the self-employed taxpayer as
well as update the tax practitioner on frequently-encountered problems with these plans and IRS’ various
compliance programs and procedures for plan errors.
Learning Objectives:
 Identify common retirement plans for self-employed.
 Understand plan maintenance requirements.
 Learn how to cure common plan errors.
IRS Program Number: WZA09-T-01795-16-I
Qualifies for 2 Hours Federal Tax Topics
CTEC Number: 1001-CE-8222
3:00 p.m. - 5:00 p.m.
Friday, October 28, 2016 Carol W. Thompson, EA
Carol has prepared income taxes since 1979 and has been teaching continuing education for over 30 years. Her seminars have been
seen and heard by thousands of tax professionals in 22 states. Carol is a member of the National Association of Enrolled Agents
(NAEA), the National Association of Tax Professionals (NATP), and the National Society of Accounts (NSA). She has been
honored with awards including Enrolled Agent of the Y ear by the California Society of Enrolled Agents and both the Excellence in
Public Awareness Award and the Excellence in Education by NAEA.
Carol has extensive experience in TV, radio, and the print media, including appearances on the IRS Web-TV program, Tax Talk
Today, and ABC’s Good Morning America. She has been interviewed or featured in articles in Newsweek, Accounting Today,
Smart Money, Money Magazine, Kiplinger’s and many others.
Carol is a Graduate Fellow of the National Tax Practice Institute (NTPI) and has served on the faculty for many years. Carol
received a Bachelor of Science degree with honors from the State University College at Brockport, NY.
Form 2106-Employee Business Expenses:
This class will review recordkeeping and substantiation of deductions taken on Form 2106. This is one of the most complex and
convoluted issues in the tax business--if only because clients have such a hard time with the concept of "recordkeeping." With the
advent of pocket computers, otherwise know as "cell phones," it seems a fairly simple task to keep track of who, what, where,
why, and how much. Course will discuss allowable expenses, accountable vs. non-accountable plans, "tax home" rules. Includes
case studies on substantiation requirements using the Cohan Rule and will discuss selected specific occupations.
Learning Objectives:
 Review general rules for deductions for all occupations.
 Know what constitutes an expense incurred in a trade or business (including employees).
 Know what expenses are ordinary and necessary.
 Learn what forms of proof are required to deduct the expense.
 Know the specific expenses allowed for firefighters, police officers, ministers, truck drivers, and other unique occupations.
IRS Program Number: WZA09-T-01796-16-I
Qualifies for 4 Hours Federal Tax Law Topics
CTEC Number: 1001-CE-8223
8:00 a.m. - 12:00 p.m.
Involuntary Conversions - Disasters and Casualties:
This class is a review of casualty and disaster losses included in the Internal Revenue Code and applicable IRS rulings, regulations,
and cases. Course material will provide publications and websites to help practitioners and their clients work through the necessary
paperwork to maximize the available tax breaks. The same basic paperwork will be needed for FEMA, SBA, Insurance and the
IRS. The income tax community is in a unique position to help victims of disasters get organized and ready for all of the help
available. Class will review three important IRC sections which are the primary sources of casualty and disaster losses, as well as
stocks, Ponzi schemes, thefts and more.
Learning Objectives:
 Be familiar with IRC Section 165, Losses, and know how to deduct losses.
 Be familiar with IRC Section 172, Net Operating Losses, and know what to do when the losses exceed income.
 Be familiar with IRC Section 1033, Involuntary Conversions, and know what losses are deductible.
 Be able to help clients with losses ranging from a home fire to the Big Sur fire, from Ponzi schemes to hurricanes and
earthquakes.
IRS Program Number: WZA09-T-01797-16-I
Qualifies for 2 Hours Federal Tax Law Topics
CTEC Number: 1001-CE-8224
1:00 p.m. - 3:00 p.m.
Schedule B--Not Your Mother's Form:
Schedule B is a form used to collect information from many sources. It appears innocuous at first glance, but when studied in
depth, there are twists and turns that can create havoc on a tax return. Generally, interest is payment for the use of a taxpayer's
money that can be received as it accrues or is credited to the account. Interest that can be withdrawn without penalty is taxable
income. This class will take the form from top to bottom, beginning with the simplest of interest to the check boxes for foreign
income. We will touch on forms and attachments that affect Schedule B, or are created as a result of Schedule B.
Learning Objectives:
 Review Schedule B filing requirements.
 Understand taxability of interest income.
 Know the placement on Schedule B of seller-financed mortgages.
 Review taxable and nontaxable dividends.
 Look at a brief review of FBAR and FATCA as affected by Schedule B.
 Discuss Kiddie Tax and the effects of unearned income.
IRS Program Number: WZA09-T-01798-16-I
Qualifies for 2 Hours Federal Tax Law Topics
CTEC Number: 1001-CE-8225
3:00 p.m. - 5:00 p.m.