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Central Valley Two-Part HYBRID Chapter Meeting 9.28.21
Residence Inn Modesto North
2901 Healthcare Way
Modesto, CA 95356
Tuesday, September 28, 2021, 2:00 PM - 8:00 PM PDT
Category: Chapter Meetings

Two-Part Meeting: S Corporations and Form 1120S and You think you are done with Tax Season?
Central Valley Chapter HYBRID* Meeting

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

Date/Time:

Tuesday, September 28, 2021
Part One: S Corporations and Form 1120S - 2:00 PM to 5:30 PM
Part Two: You think you are done with Tax Season? - 6:00 PM to 8:00 PM 

Location:

NEW LOCATION! Residence Inn Modesto North
2901 Healthcare Way
Modesto, CA 95356

Topic: 

Part One: S Corporations and Form 1120S
This class will be a thorough and practical look at S corporations, from formation and making the S election to preparing the tax return. We’ll look at the specific characteristics of S corporations, including basis and limitations on losses. Then we’ll use a case study to illustrate how various transactions are handled and produce a set of financial statements. Next, we’ll look at Form 1120S with its different schedules – Schedule K and the K-1s, Schedule L, and Schedules M-1 and M-2 – to get an overview of the form and how it fits together. Finally, we’ll use the financial statements we prepared to work through the form together, preparing the S corporation tax return and checking that our work is correct.

Part Two: You think you are done with Tax Season?
It is now PPP Loan Forgiveness season! It is also ERTC (Employee Retention Tax Credit) season! The PPP borrowers are going to need our help more than ever. We will go over how to maximize PPP Loan forgiveness and the ERTC. Let's have a discussion about how to get through the PPP and ERTC seasons! Outline:
1. PPP Loan program
2. Payroll Costs
3. Non-payroll Costs
4. PPP Safe Harbors
5. Loan Forgiveness Forms - 3508, 3508EZ, & 3508S
6. Employee Retention Credit
7. ERTC IRS Guidance
8. New California Tax Credits
We got plenty to go over!

Presenter:

Part One: S Corporations and Form 1120S - Linda Dong, EA. and Kameron Baker, FPC
Linda Dong, EA, ABALinda Dong graduated with honors from the University of Illinois in Chicago with a degree in Accounting. She went to work for the IRS, where she received a very thorough training in taxes and began auditing corporations. Not liking the adversarial relationship inherent in tax audits, Linda left the IRS and started a tax and accounting practice from her home. She grew her practice to include four employees, but eventually downsized and is now once again a sole practitioner working out of her home office. She provides tax and accounting services to individuals, small businesses, and nonprofit organizations. Linda has been an Enrolled Agent (EA) since 1982. Her credentials from the Accreditation Council of Accountancy and Taxation (ACAT) include Accredited Business Accountant (ABA) and Accredited Tax Advisor (ATA). She is a QuickBooks ProAdvisor and often teaches classes in accounting and tax to other professionals. A member of several tax and accounting professional groups, she is currently serving as President of the California Society of Tax Consultants and Secretary-Treasurer of the Wine Country Chapter.

Part Two: You think you are done with Tax Season? - Lawrence Pon CPA/PFS, CFP, EA, USTCP, AEP
Lawrence Pon, CPA/PFS, CFP, EA, USTCP, AEP Mr. Pon is a Certified Public Accountant, Personal Financial Specialist, Certified Financial Planner, Enrolled Agent, United States Tax Court Practitioner, and Accredited Estate Planner in Redwood Shores, CA. Mr. Pon has been in practice since 1986 and enjoys helping his clients reach their financial goals. He frequently speaks on tax and financial planning topics to tax professionals, financial advisors, and the general public nationally. Mr. Pon is also a long-time member of NAEA, CSEA, AICPA, and CalCPA. Mr. Pon received his BS in Business Administration with emphases in Accounting and Finance from the University of California, Berkeley and MS in Taxation from Golden Gate University in San Francisco.


CPE Information:

Part One: S Corporations and Form 1120S
3 Federal Law Hours (Topics covering existing tax law)
1 California hours (Topics covering California law issues)
In-Person IRS #: 18QC1-T-01560-21-I
Virtual IRS #: 18QC1-T-01560-21-O
CTEC#: 1000-CE-4962

Knowledge Level: Intermediate (Basic knowledge helpful)

Part Two: You think you are done with Tax Season?
2 Federal Law Hours (Topics covering existing tax law)
In-Person IRS #: 18QC1-T-01561-21-I
Virtual IRS #: 18QC1-T-01561-21-O
CTEC#: 1000-CE-4963

Knowledge Level: Intermediate (Basic knowledge helpful)

Cost:

Part One ONLY
Registration Fee (Member): $50
Registration Fee (Non-Member): $80

Part Two ONLY
Registration Fee (Member): $35
Registration Fee (Non-Member): $65

BOTH Parts
Registration Fee (Member): $65
Registration Fee (Non-Member): $95

Registration:

CLICK HERE to register for part one ONLY
CLICK HERE to register for part two ONLY
CLICK HERE to register for BOTH sessions

Please call De Vaney Business Services at 209-524-4345 or email [email protected] if you have any questions.  


Cancellation and Refund Policy for Meeting Purchase:
Written cancellations will be accepted up to three (3) business days before the course begins for a full refund. Please email your request to [email protected] No refunds will be given if cancellation notice is received later than three (3) business days before the course begins, or for no-show registrants.


This presentation has been designed to meet the requirements of the Return Preparer Office, the California State Board of Accountancy; and the California Tax Education Council including code 31 of Federal Regulations10.6 (g). This does not constitute an endorsement by these groups. A listing of additional requirements to renew tax preparer registration may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA. 95812- 2890, or phone CTEC at (877) 850-2832, or on the Internet at www.ctec.org.

 
 

Contact: Please call De Vaney Business Services at 209-524-4345 or email [email protected] if you have any questions.