CHAPTER LEADERSHIP

“Before you are a leader, success is all about growing yourself.  
When you become a leader, success is all about growing others.”
                                                                                                 – Jack Welch

Do you want to help make your Chapter even better? Do you have great ideas for networking events and continuing education? Are you at the point in your life where you want to give back to the community and your profession?

As a member of CalCPA, you know the value of being aligned with the country’s strongest CPA association. Why not take your participation one step further and become one of our leaders? Contact your program manager for more information.

GOVERNMENT RELATIONS

California Taxation of Forgiven Student Loans
With the recent announcement from President Joe Biden that the federal government will be canceling up to $20,000 of federal student debt per borrower, there has been some debate as to whether the debt cancellation will be considered income under the California tax code and taxed accordingly. While the federal government has promised that the debt relief will not be treated as taxable income for federal income tax purposes, there are conflicts with individual state tax codes—including California.

The California tax code allows for only certain types of federal debt forgiveness to be exempt from California state income tax. However, there are questions if federal student debt forgiveness falls into this category. The FTB stated that tax exemption depends on how the U.S. Department of Education will administer the program. If the program falls under Sec. 1098e of Title 20 of the U.S. tax code, then the program would be exempt from California income tax. However, if it falls under another law section, it will be taxable in California.

In a recent joint statement, both Senate President Pro Tem Toni Atkins and Assembly Speaker Anthony Rendon have committed to ensuring that the President’s debt forgiveness plan is exempt from being taxed in California. Legislative analysts are currently evaluating the issue, and if a legislative fix is required, legislative leaders will take immediate action in early 2023.

CalCPA is closely monitoring the issue, is working closely with legislative leaders, and is ready to assist on any matters relating to tax conformity.

For another resource on this topic, check out the CalCPA Education Foundation’s brainfood bytes video, featuring a discussion by Gary E. Carpenter, CPA.

MEMBER COMPETENCY & LEARNING

Family Law Conference | October 20 – 21
Family law is one of the larger specialty practice areas for both CPAs and attorneys. Understanding international divorce issues, quantifying the marital standard of living and knowing the latest legislation and tax laws are just a few critical family law issues covered at this year’s conference. Gain insight from CPAs, attorneys and judges as they share critical information impacting your family law practice. As your clients face separation, divorce or support conflicts, they will rely on you to guide them through their family disputes. You’ll hear about the latest developments, legislation, and trends in family law disputes and dissolutions at this conference. Plus, the conference provides an excellent opportunity to network with judicial officers, attorneys and other professionals.

Southern California In-Person | Register
Northern California In-Person | Register
Virtual Conference | Register

Cannabis Business Virtual Symposium | November 8 – 9 
Learn about the relevant tax, legal and accounting information surrounding the cannabis industry. A significant increase in cannabis industry activity has led to an increase and high demand for professional services. Attend this symposium to gain an in-depth understanding of new and recently implemented policies, and practical insights serving cannabis-industry clients and receive key takeaways from accounting experts, attorneys and industry leaders. Register

MEMBERSHIP, MARKETING & COMMUNICATIONS

Providing a positive member experience is of the utmost importance to CalCPA. That's why we recently launched a two-minute biannual survey to understand better how we're doing, what we're doing well and how we can improve. We ask that members keep an eye out for our emails with links to our member experience surveys. Two minutes (or less) of your time can go a long way.

PARTNERSHIPS

CalCPA has partnered this year with two California organizations to host the virtual broadcast of their conferences. CalCPA is excited to join efforts with UCLA Extension and San Jose State University Tax Institute to provide their great content to CalCPA members!

UCLA Extension 38th Annual Tax Controversy Institute | November 14
This one-day virtual conference brings together sophisticated tax practitioners from the federal government, judiciary, and private practice to discuss and debate the procedures, policies, and strategies that are involved in resolving difficult tax controversy issues. Join us for sessions structured around extremely high-quality practical presentations by sophisticated government and private practitioners from throughout the country who enjoy an open discussion of sometimes sensitive practice issues with the audience. 

Register

38th Annual TEI-SJSU High-Tech Tax Institute | November 29 – 30
The 38th Annual TEI-SJSU High Tech Tax Institute is a two-day virtual conference held each November. Leading edge topics relevant to high-tech companies and their tax professionals are addressed by nationally and internationally recognized practitioners and government representatives who have practical experience in implementation. The learning opportunities make the annual TEI-SJSU High Tech Tax Institute an invaluable educational tax experience for accountants, attorneys, and corporate representatives who serve high technology businesses of all sizes and types. 

Register

CalCPA Executive Interview Series
In September 2022, CalCPA’s advertising and partnerships team kicked off its new executive interview series featuring interviews with thought leaders in the accounting profession. Watch the first episode featuring an interview with Ignition executive Josh Lance. Watch a short clip on CalCPA’s’ YouTube page.

Sponsored Webcasts: This fall, CalCPA has a great lineup of FreePE webcasts available for our members. On October 3, Paychex will present Top HR Issues Accountants and Their Clients are Facing. In the webcast, they will discuss the policies and procedures our members can put in place to protect their businesses, and stay compliant with several local, state, and federal laws. On Oct 17, Ignition presents Top Tips for Selling Advisory Services where participants will learn how to identify the value of delivering advisory services for clients and recognize the key elements and best practices for every advisory proposal. View the schedule at FreePE Webcast Series.

STATE COMMITTEES/SECTIONS

State Committee Application | 2023-24
The state committee application process opens on October 1, with all submissions due by December 31, 2022. Committee appointments will be made in January or February 2023 and terms begin on May 1. You can apply here.

Please note: The application is for at-large state committee membership. Chapter representatives do not need to complete an application unless they’d like to apply to other state committees.

Personal Financial Planning (PFP)
The Personal Financial Planning (PFP) state committee offers free monthly presentations on the third Tuesday of every month. Past presentations are recorded and posted (along with the materials) on calcpa.org/pfp.

Register | Oct. 18: How to Properly Maintain and Fund Life Insurance Policies

Estate Planning
Estate Planning is hard at work developing its charter so that the committee members have some great action items and deliverables. The Connect platform for Estate Planning is in test mode and should be ready to start loading with resources soon. There is conversation of developing an “Intro to Estate Planning” course that could be added to the Foundation’s On-Demand library. The committee is committed to helping young professionals with resources on how to decide if estate planning is the right practice area for them. Stay tuned, November should be a robust meeting with many more deliverables!

Taxation
Later this month, the CalCPA Committee on Taxation will host a joint meeting with the California Franchise Tax Board in Sacramento. Topics discussed will include updates from FTB leadership and department leaders, with a question-and-answer forum held between the FTB and the COT.

Forensic Services Section (FSS)
The sections meet jointly on October 28 at the Four Points by Sheraton LAX Hotel. Sessions include start-ups from the investment side, a recruiter’s tips for hiring top talent, big data tools, and many more. Additional details and registration.