Farming Part 1 & 2
Central Valley Chapter Meeting

Date and Time:

Tuesday, November 26, 2019
Afternoon Workshop 2:00 p.m. - 5:30 p.m.
Dinner Session 6:00 p.m. - 8:00 p.m.

Location:

Perko's Cafe & Grill
4642 Kiernan
Salida, CA 95368

Topic: 

Farming Part 1
New Form 8995-A, Qualified Business Income Deduction, Standard mileage rate, Increased section 179expense deduction dollar limits, Social Security and Medicare tax, Record keeping, Types of Accounting Methods, Types of Farm income and what form(s) should be used, Farm Business Expenses,Soil and Water Conservation Expenses, Basis of Assets, Depreciation, Depletion and Amortization. Gains and Losses, Disposition of Property Used in Farming.

Farming Part 2
Form 8822, Change of Address, and Form 8822-B, Change of Address or Responsible Party-Business, Form 8886, Reportable Transaction Disclosure Statement, Form W-4 for 2020, Form 1099-Misc. Installment Sales and Casualties, Thefts and Condemnations, Self-Employment Taxes, Fuel Excise Tax Credits and Refunds, Estimated Tax. Open for Questions and Answers.

Presenter: Sandra Stolich, EA

In the fall of 1992, I saw an H & R Block ad offering a tax school at the local office. During this brief 10-week course I was intrigued by this profession. Soon after, I purchased a client list from an office that was closing. At that time, all 20-30 returns were done by hand. On New Year's Eve 1997, I submitted a resume to the H & R Block local office and was hired. This began an 8 year journey into computer generated tax returns and meeting fascinating clients along the way. In May 2004, I opened my private tax and bookkeeping practice and thoroughly enjoyed the world of self-employment. I passed the S.E.E. in 2005 and became an Enrolled Agent. Feeling the need to be a part of a larger family, In 2007, I discovered the Liberty Tax Franchise system. I quickly faced challenges of multiple stores, employees, more complex tax returns, and tax law changes. In 2008, I became one of Liberty's online basic California tax course and Federal Rapid course trainers. Then in 2005, while still operating my two offices, I was hired as Corporate Tax School Coordinator for Liberty, Handling all state tax education licensing and online instruction. I am a California native, Growing up in Watsonville, before moving to Calistoga, Santa Rosa and finally raising our family in Ukiah. Attended Cabrillo Junior College, Santa Rosa Junior College and receiving an an Associate's of Science Degree in Accounting from Mendocino College. After completing high school I became the first woman firefighter hired by the rural Salsipuedes Fire Department in Santa Cruz County. Worked as an EMT, for a few years, in both Santa Cruz and Santa Clara Counties for ambulance companies. True story, In 1985, I picked my partner Brack out of a catalog of a dating service called Great Expectations. In 1990 we welcomed our daughter Katie who is a CRTP, on the Board of CTEC, and has worked alongside me for 10 years. We were blessed in 1994, with two tiny premature twin sons Brice and Grant who too have sat through many of my tax lectures over the years. In my free time, I enjoy cooking, country music, antique automobiles, and Puzzles. One of my favorite sayings by Galileo is. "we cannot teach people anything, we can only help them discover it within themselves". I also think this saying by Albert Einstein is especially true for tax consultants, " I don't need to know everything, I just need to know where to find it, when I need it".

Cost:

Afternoon Workshop only (4 hours CE)
$50 members & $75 non members

Dinner Meeting only (2 hours CE)
$35 members & $60 non members

Workshop & Dinner (6 hours CE)
$65 members & $90 non members

Registration:

Please email [email protected] or call 209-524-4345 and speak with any staff member. Please leave your full name, PTIN number and CTEC, EA or CPA number.

CPE Information:

Afternoon Workshop (Farming Part 1):
4 Federal Law Hours

CTEC: 1000-CE-4689
IRS: 18QC1-T-01303-19-I

Dinner Session (Farming Part 2):
2 Federal Law Hours

CTEC: 1000-CE-4690
IRS: 18QC1-T-01304-19-I

Knowledge Level:
 Intermediate

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.