Two-Part Workshop and Dinner Meeting
Central Valley Chapter In-Person Meeting

Date/Time:

Tuesday, May 28, 2024
Part One - Workshop: 2:00 PM to 5:30 PM
Part Two - Dinner Meeting: 6:15 PM to 8:15 PM

Location:

Dennys
4324 Salida Blvd
Salida, CA 95368

Topic: 

Part One: Workshop
This class will feature a broad coverage of partnerships and LLCs. We’ll review the characteristics of partnerships and LLCs and what makes them unique. We’ll cover some of the common elections partnerships can make, and we’ll examine basis and how to calculate it. Using a comprehensive case study, we’ll then look at some typical transactions of a partnership and how to treat them, developing a set of financial statements as we go. Finally, we’ll go through Form 1065, explaining it and demonstrating how to use the financial statements we prepared to complete the partnership tax return and to check that it’s correct

Part Two: Dinner Meeting
When a client says they bought a new car for business, your first question should be, what did you do with the old one? I believe we are doing far fewer 4797s, sale of business use assets, than we should be. We will discuss 1231,145 and 1250 property, how to report the sales and how to determine what tax rate should be applied.

Presenters:

Part One:
Linda Dong, EA
Linda 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.

Part Two:
Eugene Ostermiller, EA
Eugene started doing taxes 23 years ago at H and R Block. After 8 years at Block, he formed Tax Matters Inc. in San Francisco with 2 partners, a business that they sold in 2014. He then moved to Sonora CA and opened ERO Tax in 2015. He passed the EA exam in 2001 and has been a speaker for over 15 years.

CPE Information:

Part One
4 Federal Law hours (Topics covering existing tax law)

IRS: 18QC1-T-01963-24-I
CTEC: 1000-CE-5407

Knowledge Level: Basic (No prior knowledge expected)

Part Two
2 Federal Law hours (Topics covering existing tax law)

IRS: 18QC1-T-01964-24-I
CTEC: 1000-CE-5408

Knowledge Level: Basic (No prior knowledge expected)

Cost:

Part One ONLY
Registration Fee (Member): $55
Registration Fee (Non-Member): $85

Part Two ONLY
Registration Fee (Member): $40
Registration Fee (Non-Member): $70

BOTH Parts
Registration Fee (Member): $70
Registration Fee (Non-Member): $100

Registration:

To register for this event, please RSVP Krystle or Emily at [email protected] or call us at (209)524-4345

Cancellation and Refund Policy:
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.