Orange County Enrolled Agents AMERICAʼS TAX EXPERTS The Tax Professionals ENROLLED AGENT June 2015 Editor: Dale Quelle, EA • 714-899-2221 • [email protected] Representation UP CLOSE & PERSONAL New Panel Format Presentation See Page 3 for Details June 2015 Page 2 PRESIDENT’S MESSAGE by John Kristianson Summer is here. I realize that has different connotations in California than maybe in other areas of this great country of ours. I hope that each of you has some great plans with friends and family planned for the next few months. I am leaving for the CSEA Board meeting this weekend (Memorial Day) in Reno, NV. I will also be attending one of the three days of Super Seminar. I am looking forward to the Supers Experience. Looking forward to the next few months, there is a lot going on. We have our Orange County Chapter Planning meeting on June 18th and 19th at the Temecula Creek Inn, in Temecula. This is always a great event for the chapter in planning for the coming year. In July, the Annual Meeting for the California Society of Enrolled Agents will be held in San Diego. The dates on that meeting will be Wednesday, July 15th through Friday, July 17, 2015. The venue will be the Double Tree Hotel in downtown San Diego. It should be an informative meeting as well as a great place to reconnect with Enrolled Agents from around the state. The Town Hall meeting will be on Thursday, July 16 from 1:00PM to 4:00PM. It is an opportunity to learn what are the pressing issues or new ideas that the organization is considering. It is also a place to make sure that your voice is heard by the Society’s leaders. The Grand Banquet for the Annual Meeting will be held on Thursday, July 16th. The new officers of the Society will be installed for the 2015 – 2016 operating year. Orange County is represented again in the Executive Committee. Joyce Cheng is going to be secretary of the CSEA organization, and I will be the incoming Treasurer. Other than those events, keep your eyes on the newsletter this year for upcoming education events and dinner meeting news. Cheers. AMERICA’S TAX EXPERTS President John Kristianson, EA MBA 5030 Katella Blvd, #228 Los Alamitos, CA 90720-2819 (562) 438-6059, [email protected] First Vice President Joyce Cheng, EA 31 Woodleaf Irvine, CA 2614 (714) 546-0445, [email protected] Second Vice President Kenneth Noland, EA 17461 Irvine Blvd #M Tustin, CA 92780 (714) 505-1925, [email protected] Secretary Jean Krieger, EA 2100 Main St #106 Irvine, CA 92614 (949) 440-1117, [email protected] Treasurer Christine Davidson, EA 24192 Via Luisa Mission Viejo, CA 92691 (949) 305-6407, [email protected] Directors Matthew Cooling, EA 22431 Antonio Pkwy Rancho Santa Margarita, CA 92688 (949) 391-7677, [email protected] Charles Hays, EA 10319 Los Alamitos Blvd Los Alamitos, CA 90720 (562) 626-8190, [email protected] Donna Miller, EA 2525 Cherry Ave., Ste 368 Signal Hill, CA 90755 (562) 424-2411, [email protected] Robin Miller. EA PO Box 4424 Mission Viejo, CA 92690 (949) 347-8522, [email protected] David Shashoua, EA 18552 MacArthur Blvd #400 Irvine, CA 92612 (714) 760-4996, [email protected] CSEA Director; Bill Stewart, EA 31726 Rancho Viejo Rd #215 San Juan Capistrano, CA 92675 (949) 496-1174, bill@sanjuanfinancial .com Immediate Past President; Patricia Yeckel, EA 22342 Avenida Empresa #280 Rancho Santa Margarita, CA 92688 (949) 888-2829, [email protected] June 2015 Page 3 AMERICA’S TAX EXPERTS Have Something To Say... Readers are encouraged to submit letters to the editor on topics involving our tax profession. Readers can also voice their opinion on matters concerning our chapter. Please include your full name and phone number. Email: [email protected] AMERICA’S TAX EXPERTS Advertise in the OCEA Newsletter. The best way to get your message in front of the EA community. Call Jack Lifshin 562-596-4150 to place your ad. OCEA is 384 Members Strong! Representation Up Close and Personal Come to the June 16th Dinner Meeting for a new format where we will have a panel of your experienced colleagues discuss relevant questions about representing clients a variety of situations including audit, collection, and more. To whet your appetite here are a few of the objectives: • Increase your understanding of AJAC procedures. • Increase awareness and understanding of use of power of attorney and form 56. • Increase understanding of uncommon issues in audit. • Impact of non-requesting spouse participating in Innocent Spouse claim. Panel: Patti Kappen, EA, Marilyn Ratliff EA, and Matthew Cooling, EA Panel Moderator: Joyce Cheng, EA The panel format will allow participants to respond to the questions and answers presented, BUT ALSO, you will also be encouraged to ask questions that relate to your clients. Please join us for this meeting! CLICK HERE TO REGISTER Meetings are held at the Phoenix Club 1340 S Sanderson Ave Anaheim, CA 92806 (see last page for map) Agenda: Tues, Jun 16 , 2015 4:15 Board Meeting 5:30 Social Time 6:00 Dinner Hour 7:00 Presentation CPE 1 $40/$45 June 2015 Page 4 LEGISLATIVE NEWS by Jean Krieger, EA The California Legislature has been busy over the past few months. Both House and Senate chambers introduced and amended numerous tax credits, exemptions, and deductions. I’ve listed below a brief summary of some notable proposals that were reviewed by legislators since February 2015. If you would like to see the details of a particular Assembly or Senate go online to http:// leginfo.legislature.ca.gov. If you (or one of your clients) believe any of these bills should be enacted into law get active and advocate - write to your Assemblymember or Senator today. Assembly Bills AB 17 (Bonilla) Contributions to Qualified Tuition Program Account - Refundable Credit (Amended 04/21/15) AB 151 (Rodriguez) Apprentice Training Credit (Amended 04/21/15) AB 154 (Ting) Conformity Act of 2015 (Introduced 01/16/15 & Amended 03/26/15) This bill would enact two conformity provisions: 1) The first provision would change California’s general “specified date” of conformity to federal income tax laws from January 1, 2009, to January 1, 2015, and thereby conform to the numerous changes that were made to federal income tax laws during that six-year period 2) The second provision would con- form to the federal net operating loss (NOL) rules that allow corporations expecting an NOL carryback to extend the time for payment of taxes. AB 321 (Chavez) Exclusion/ Military Service Member Income (Amended 03/12/15) This bill would exclude from gross income any income received by a service member: 1) In the U.S. Armed Forces, in the reserve component of the U.S. Armed Forces, or in the National Guard while serving his or her active duty in the state. 2) Sep- arated from the U.S. Armed Forces, the reserve components of the U.S. Armed Forces, or the National Guard, for 12 calendar months from the date he or she is honorably discharged 3) Hospitalized within the state for an injury received while on active duty. AB 437 (Atkins & Mullin) Research Expenses Credit/Reduce Excess Carryover Credit/R&DSmall Business Grant Program (Introduced 02/19/15 & Amended 04/13/15) AB 476 (Chang) Renter Credit/ Homeowners’ Property Tax Exemption/Increase Credit & Exemption Amount (Introduced 02/23/15 & Amended 03/19/15 & 03/25/15) Cont. on page 5 June 2015 Page 5 Cont. from page 4 AB 515 (Eggman) Agriculture Product Donation to Food Bank Credit (Amended 04/20/15) AB 585 (Melendez) Outdoor Water-Efficiency Improvement Credit/Outdoor Water-Efficiency Act of 2015 – (Introduced 02/24/15 & Amended 03/16/15) AB 612 (Patterson) Minimum or Annual Franchise Tax $400 for New Small Business Corporation, Limited Partnership, Limited Liability Partnership, & Limited Liability Company (Amended 03/12/15) The reason for this bill is to provide tax relief for new, small businesses doing business in California, by reducing the minimum or annual tax to $400 for the first or second taxable year. “Small Business” means either: an LP, LLP or LLC that has gross receipts, reportable to California of $5,000 or less. Existing business entities, not just new business entities, could qualify for this bill’s exemption AB 1371 (Lackey & Olsen) Education-Related Expenses Deduction (Amended 04/20/15 ) For each taxable year beginning on or after January 1, 2016, and before January 1, 2021, this bill would allow a deduction in an amount equal to the qualified amount that was paid or incurred for qualified education-related expenses for one or more dependent children during the taxable year, not to exceed $2,500. This bill would also allow the deduction for qualified education-related expenses to be taken as an “above-the-line” deduction when calculating adjusted gross income (AGI). AB 1404 (Grove) Employer Hiring Credit/Employees with Disabilities (Introduced 02/27/15) Senate Bills AB 688 (Gomez) California Motion Picture Production Credit/ Extend July 1, 2021 (Amended 03/26/15) SB 152 (Vidak) Refundable Earned Income Tax Credit (Amended 05/06/15). AB 771 (Atkins) Rehabilitation of Certified Historic Structure Tax Credit (Amended 05/12/15) SB 251 (Roth) Disabled Access Expenditures Credit for Businesses (Amended 05/04/15) AB 799 (Allen) Exempt Limited Liability Company Modify the Definition of Doing Business (Amended 03/26/15) This bill would Exempt limited liability companies (LLCs), classified as holding companies, from the definition of doing business in the state. It would also modify the definition of doing business in the state for LLCs that are classified as holding companies. SB 495 (Stone) Withholding on California Real Property for Nonresidents and Certain Corporations – (Amended 04/22/15) The reason for the bill is to eliminate existing withholding requirements and instead, require withholding of 3-1/3 percent of the sales price of the property if the property was either acquired from a person or corporation that no longer has a connection to the state. The withholding obligation is imposed on the withholding agent: frequently the person paying for the services or purchasing the property, but they can also be an attorney, escrow person, broker, or other intermediary. AB 1041 (Baker) Coverdell Education Savings Account Deduction (Introduced 02/26/15) AB 1139 (Campos) Lawn Replacement Credit (Amended 03/26/15) AB 1255 (Thurmond) Apparently Wholesome Food Donation Credit (Amended 03/26/15) The reason for the bill is to encourage donations of food to nonprofit entities by corporations. California generally conforms to the federal rules relating to charitable contributions but specifically does not conform to the enhanced deduction for a contribution of food inventory. (The deduction for charitable contributions of inventory is also limited to the taxpayer‘s basis in the inventory, generally its cost.) SB 578 (Block) Electric Vehicle Charging Station Credit (Amended 04/13/15) This bill would establish an income tax credit, under the Personal Income Tax Law (PITL) and the Corporation Tax Law (CTL), for purchasing an electric vehicle charging station Ensuring access to publicly accessible charging stations will help motivate Californians to purchase electric vehicles, thus helping to meet the state’s goal of one million zero-emission vehicles while reducing greenhouse gas emissions. June 2015 Page 6 Dear Eddie, Why does CSEA offer education when our own chapter offers it? Isn’t CSEA encroaching on our education and income? Inquisitive Iris Dear Inquisitive Iris, OCEA is a chapter within CSEA and we all have the same goal. Ensuring that all members have access to relevant, current education to maintain our credentials as America’s Tax Experts. At the chapter level we try to provide convenient and affordable continuing education geared to the needs of our chapter membership. This is why it is important to communicate your education needs and preferences to the OCEA board and Education Committee. Encouraging Eddie Dear Eddie, I am not happy with the handout from the last dinner meeting. Is there anything you can do about it? Annoyed Alana Dear Annoyed Alana, I agree completely and have spoken to the presenter about it. There will be a new handout prepared and emailed to each participant shortly. Our goal is to provide relevant education which includes useful materials to allow participants to have something to rely on even after the presentation. Please look for it in your email. Enforcing Eddie Dear Eddie, I think I saw Willy Nilly at Super seminar! What should I do now? Eagle-eye Ernie Dear Eagle-eye Ernie, If you spotted Willy Nilly and think you know his location, then send an email to me at [email protected] before midnight of the Thursday night before the next monthly dinner meeting. The next deadline is June 11, 2015. All correct Willy Nilly spotters will be entered in a drawing to win a $25 CE certificate (valid through December, 2015!). Eligible Eddie Where in the World is Willy Nilly? June 2015 Page 7 CLASSIFIEDS FINANCIAL SERVICES FIRM in South Orange County looking for an Enrolled Agent with at least two years experience in tax preparation. Please email resume to Mary at [email protected] or phone (949) 679-4267 to inquire. 11/14 EMPLOYMENT OPPORTUNITY for part- or full-time administrative assistant. Do you have a small practice and want to grow? Find yourself in a great launching point and learning position. Our office represents clients in audit and collection. And of course, we prepare tax returns in a busy 12 month office. Send your resume to Bill Stewart at [email protected] 06/15 Classifieds available for OCEA Members & associates to advertise items for sale or rent, want ads & employment opportunities. Ads run for 2 consecutive months free of charge (longer based on space available. Let us know when your ad is no longer needed). Email to 4quelle@ msn.com. Include your name & phone number or email. THE LAW OFFICES OF BARNETT & RUBIN Jeffrey Corporation Centre 5450 Trabuco Road Irvine, CA 92620 Tel: 949.261.9700 Fax: 949.261.9799 [email protected] • DISCHARGE TAXES • BUSINESS LITIGATION AND TRANSACTIONS • BUSINESS FORMATIONS • MERGERS & ACQUISITIONS • BANKRUPTCY & INSOLVENCY MATTERS • CORPORATE REORGANIZATIONS • MEDIATION A PLUS APPRAISALS Residential Real Estate Appraisals Historical Real Estate Appraisals • Can determine Market Values from 1970’s to present. SFR’s, 2-4 Units, Condos, Town Homes. • 30 Yrs Experience • State Certified John Rydell • $350 and up (562) 425-0564 • Fast, Reliable Service [email protected] • Expert Witness for Court June 2015 Page 8 Just 4 Fun We Find Solutions To IRS and State Tax Problems. Nov 2007 FREE INITIAL CONSULTATION La Donna T. Kienitz Esq. 949-300-6951 www.taxsolutionsite.com [email protected] Appeals, Release of Levies, Offers in Compromise, Representation in US Tax Court DATE UPCOMING PROGRAMS & EVENTS PROGRAM / EVENT CPE SUBJECT LOCATION Jun 16, 2015 Dinner Meeting 1 Representation Phoenix Club Jul 21, 2015 Dinner Meeting - TBD Phoenix Club Jul 29, 2015 Event - SEE Class Part l National Univ, Costa Mesa Aug 18, 2015 Dinner Meeting - Special Occupations Phoenix Club Aug 18, 19, 20 Event - SEE Class Part ll National Univ, Costa Mesa Sept 25, 2015 Event - See Class Part lll National Univ, Costa Mesa PROFESSIONAL EDUCATION - we are a great source for continuing professional education (CPE)! If you’re interested in becoming a member, please print and fill out our Membership Application. Our chapter is an approved CPE and CLE education provider through our chapter dinner meetings and seminars with the following: Internal Revenue Service (IRS), American Institute for CPAs (AICPA), California Bar Association - Taxation Section (CBA), and California Tax Education Council (CTEC). KATELLA AVE CHAPMAN AVE • Corn Casserole • Garlic Smashed Potatoes • Peach Melba • Black Forest Cake Ball Rd to Phoenix Club Dr Right on Sanderson Ave. MAIN ST The Mission of OCEA is to encourage professionalism, personal growth, and educational growth, while providing member benefits and enhancing the role of Enrolled Agents among the local governmental agencies, other professionals, and the general public. BALL RD STATE COLLEGE BLVD The Vision of OCEA is to serve, to represent the best interests of Enrolled Agents in Orange County, and to emphasize and enlighten the general public that an Enrolled Agent is the premier tax professional. HARBOR BLVD • House mixed salad • Cucumbers with yoghurt • Stuffed Beef Rouladen • Salmon • Steamed vegetables Dinner Menu For This Month Meetings are held at the Phoenix Club 1340 S Sanderson Ave, Anaheim, CA 92806 4:15 Board Meeting, 5:30 Social Time, 6:00 Dinner Hour, 7:00 CPE Program $40 for Member pre-registration before midnight on the Thursday prior to the dinner meeting; $45 for late or on-site registration and for non-members for meetings with 1 hour of CPE credit. Meetings with 2 hours of CPE credit are $50 and $55 respectively. To make a reservation go online to our web site www.eaoc.org and select the sign up button next to the event you would like to attend and follow the prompts. If you incur any difficulties signing up, contact Ken Noland at (714) 505-1925, with a message including your name as it’s registered at IRS and your phone number and your PTIN.
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