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CSTC Academy: Wednesday Webinar Series - AB 150 - SALT Cap Work Around and Business Tax Credits
Wednesday, December 15, 2021, 12:00 PM - 2:00 PM PDT
Category: Wednesday Webinar Series

AB 150 - SALT Cap Work Around and Business Tax Credits
12:00 PM to 2:00 PM
Cost: Member: $40 / Non-Member: $70

Speaker: Lawrence Pon, CPA/PFS, CFP, EA, USTCP, AEP
2 Federal Update Hours
IRS: 18QC1-U-01597-21-O
CTEC: 1000-CE-5004

Location:

Online Meeting via Zoom
This will be Zoom Meeting. Once you register and pay, the Zoom link will be provided in your confirmation email for you to log in at the designated meeting time. Zoom does require registration before entering the meeting.

Description: 

The TCJA imposes a $10,000 limitation for deducting state and local taxes. California has finally joined a growing list of states that have implemented a workaround using passthrough entities in order to minimize the impact of the limitation.

For taxable years 2021 through 2025 AB 150 allows qualified passthrough entities to pay and deduct a passthrough entity tax. AB150 also increases funding for various business tax credits and additional stimulus payments.

Your clients are asking if they should consent or not consent to the Passthrough Entity Tax election. Should they?

Learning Objectives:

1. Identify qualified passthrough entities
2. Figure out the timing issues regarding electing and paying
3. Apply this new law for our clients
4. Which clients cannot take advantage of AB150
5. Review the business tax credits and stimulus payments from California

Presenter:

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.

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. 

Cancellation and Refund Policy for Meeting Purchase:
Written webinar 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: [email protected] or 949-715-4192