2025 California Individual Tax Update & Federal Differences Agenda

LESSON INFORMATION

The lessons cover virtually all chapters of the Big Book of Taxes and will focus on unique CA tax issues as well as compliance and non-compliance with federal law. The following is an overview of the subject matter to be covered.

California Individual Tax Update & Federal Differences - Lesson 1
California Taxation - 2 Hours CPE

This lesson delves into various aspects of California taxation, with a focus on its distinctions from federal tax regulations. Topics covered include filing status, considerations for nonresident alien dependents, exemption credits, alimony, tax implications upon the death of a taxpayer, specific tax rules for clergy, co-owned property, military-related tax issues, nonresident alien tax status, community property regulations, registered domestic partners (RDPs), foreign income reporting, taxation of precious metals, crowdfunding income, and strategies to combat tax fraud. Additionally, it covers issues related to residency status, such as resident, part-year resident, and nonresident status, along with insights into compensation-related tax matters, tips, Social Security benefits, capital gains, wash sales, stock options, home sales, debt cancellation, damages, Native American income taxation, portfolio income, interest tracing, Qualified Opportunity Funds (QOFs), small business relief grants, self-employment tax considerations, use tax, changes in accounting procedures, profit motive assessment, depreciation rules, implications for Limited Liability Companies (LLCs), Section 179 deductions, and listed property regulations. The lesson also addresses intangibles, 1099-NEC filing requirements, determining employee classification (employee or independent contractor), deductions for meals and entertainment, and vehicle-related expenses.

California Individual Tax Update & Federal Differences - Lesson 2
California Taxation - 2 Hours CPE

In the third lesson, the focus remains on California taxation intricacies and how they differ from federal tax laws. It explores topics like casualty and disaster losses, gambling income and losses, the Alternative Minimum Tax (AMT), the Kiddie tax, self-employment tax, mental health services tax, farming and fishing averaging, child and dependent care credit, the young child credit, the California Earned Income Tax Credit (CA EITC), the claim of right doctrine, adoption credit, pension start-up and auto-enrollment credit, energy credits, research credits, disabled access credit, business credit limitations, the renter's credit, senior head of household credit, joint custody head of household credit, the credit for dependent parent, natural heritage preservation credit, film credits, new employment credit, California Competes credit, college access credit, the homeless hiring credit, California inflation relief payments, miscellaneous credit-related issues, penalties, preparer penalties, underpayment of estimated taxes, mandatory e-pay requirements, innocent spouse relief, household employee taxes, gift and estate taxes, basis in assets, installment agreements, offer in compromise, health insurance assistance, and penalties associated with not having health insurance coverage.