Two-Part Meeting: Potpourri of Various Tax Issues - Subject to Audit
Central Valley Chapter HYBRID* Meeting

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

Date/Time:

Tuesday, October 26, 2021
Part One - 2:00 PM to 5:30 PM
Part Two - 6:00 PM to 8:00 PM 

Location:

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

Topic: 

Part One:
Potential Problem Issues of Operating a Business (Sch. C), Potential Problem Audit Issues of a Rental Business (Sch. E), and Potpourri of Other Issues

• Recordkeeping (IRC Sec. 6001) 
• Analyzing a Tax Return
• Operating a Business (Also Applies to Corporations, Partnerships)
• Gross Receipts/Sales, What Is Income?  - IRC Section 61
• Business Vs Personal Expenses - IRC Sec. 262, 212
• Business Start-Up Costs - IRC Section 195 & 248
• Depreciation (Allowed Vs Allowable)
• Is It a Business or An Activity Not-For-Profit? - IRC Sec. 183
• Contract Labor Vs. Employee
• General Rules for Expenses
• Corporation Guidelines/Rules
• Sch. E, Passive Activity Rules
• Bad Debts
• Employer Stock Transactions

Part Two:
Review Part 1 with questions and answers and open discussion

Presenter:

Anthony Bustos, EA
Anthony D. Bustos, EA, graduated from CSU-Fullerton with a BA in Business Administration-Accounting. Mr. Bustos was employed by the IRS for several years as a Revenue Agent auditing individuals, businesses, corporations and partnerships as well as researching tax laws, court cases and revenue rulings. He represents clients before the IRS and FTB in audit, special problems and collection matters such as the release or modification of wage levies, payment agreements, and hardships. He provides tax preparation and planning for corporations, partnerships, sole proprietorships and individuals. He appeared on Trinity Broadcasting Network’s televised “Battlelines“ program and has been a speaker to the Riverside Tax Consultants Association, and the California Society of Accounting and Tax Professionals. Anthony was the President of the California Society of Tax Consultants from 2006 to 2008.

George Fakhouri, CPA
In private practice for 41 years. George holds a Bachelor of Science Degree in Accounting from Santa Clara University, graduate work in Accounting and Tax at San Jose State and Golden Gate University. He is the Past President of the California Society of Tax Consultants and the Central Valley Chapter of the California Society of Tax Consultants. George has been a speaker and moderator of the Alamo Tax Retreat for the past 15 years as well as speaking at the annual Updates for the Central Valley. Mr. Fakhouri has been a guest speaker on taxation for several organizations and for the general public over the years.

CPE Information:

Part One: 
3 Federal Law hours (Topics covering existing tax law)
1 California hours (Topics covering California law issues)
In-Person IRS #: 18QC1-T-01572-21-I
Virtual IRS #: 18QC1-T-01572-21-O
CTEC #: 1000-CE-4977

Knowledge Level: Intermediate (Basic knowledge helpful)

Part Two:
2 Federal Law hours (Topics covering existing tax law)
In-Person IRS #: 18QC1-T-01573-21-I
Virtual IRS #: 18QC1-T-01573-21-O
CTEC #: 1000-CE-4978

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.