GOVERNMENT RELATIONS

The record $300 billion state budget addresses a broad list of policy priorities, including inflation relief in the form of tax refunds for most California taxpayers; expanded social support programs; increased spending for education; targeted tax relief for businesses; payment towards the state’s unemployment insurance loan debt; and spending to advance certain policy priorities in healthcare, transportation infrastructure, climate and homelessness.

A key piece of the budget package is $9.5 billion in inflation relief through the Middle Class Tax Refund implemented by the FTB as outlined by AB 192. Nearly 23 million taxpayers will receive a refund payment based their adjusted gross income and whether they have a dependent. Payments may be as much as $1,050 for joint filers with a dependent with an income of $150,000 or less and will decrease for higher income earners. The FTB expects to begin payments by October of this year. Qualifications and estimated payment amounts can be found on the FTB website.

You can read more about the state budget process and what has been included in the current issue of California CPA magazine.

LEADERSHIP INSTITUTE

We are excited to offer this essential leadership program again to our members for the 2022-23 year! Strong leaders in strategic positions within firms/companies are key to CalCPA’s continued success.

CalCPA Leadership Institute is designed to teach and enhance your skills to make you better leaders and managers. Get ready to grow as volunteer and business leaders, as you focus on identifying and improving your leadership behavior; how to best manage change and people; and strengthening your communication skills, among other topics.

MEMBER COMPETENCY & LEARNING

Business & Innovation Summit | August 3 
According to McKinsey, 84% of CEOs believe innovation is critical to growth, but only 6% are satisfied with their innovation performance. Why the disconnect? For starters, innovation is hard! It isn’t just about creativity—it’s about identifying a new way of thinking, implementing new systems, and reinvigorating a business to create value.

So, where do you start? What trends do you need to pay attention to, and which should you ignore? CalCPA has taken stock of how to do things better, more efficiently and more effectively. We’re gathering a panel of industry experts to discuss their successes, stumbling blocks, and the tools you need to innovate. Featuring sessions on ESG, enterprise value, blockchain and cryptocurrency, machine learning and more—come ready to be inspired and take your business to the next level.

Estate and Trust Planning Virtual Conference | August 11
Advisers are relied upon more heavily to provide perspective and clarity as legislation and regulation evolve. Don't miss this annual conference dedicated to keeping CPAs, attorneys and financial planners on top of recent developments within the estate and trust planning. Gain in-depth understanding, effective strategies and connections with expert professionals who specialize in this area. Please note that this event is a rebroadcast of the 2022 Estate and Trust Planning Conference originally presented on July 21-22, 2022.

Construction Industry Virtual Conference | August 30
Explore the latest challenges and solutions faced by the construction industry and the CPAs who work with them. Learn about the latest updates and emerging issues in accounting practices, as well as critical economic updates to be aware of. Gain the latest in industry knowledge from leading experts in the construction field.

STATE COMMITTEES/SECTIONS

PFP State Committee
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.

Estate Planning
Estate Planning would like to kick off its contribution to Connect with a robust resource library for those interested in adding Estate Planning to their practice but don’t know where to start. The August issue of California CPA Magazine highlights Estate Planning and a variety of articles will be included for the membership.

Taxation
Earlier this month, the CalCPA Committee on Taxation hosted a joint meeting with the EPC and PFP committees in Pismo Beach. Topics discussed included CPAs role in estate administration; how to start estate planning conversations; market-based sourcing planning and compliance; and a presentation by the former Chief Counsel of the IRS. Meeting materials are available on the COT Connect page. Won’t be updated until October.

MEMBERSHIP, MARKETING & COMMUNICATIONS

CalCPA has launched Rise & Stride, our new podcast featuring CalCPA CEO Denise LeDuc Froemming diving into leading topics by bringing together diverse voices to empower listeners to take their next step. Rise & Stride can be found on your favorite podcast platforms, including Apple, Spotify and Amazon.

#CPAand campaign
CalCPA’s #CPAand campaign launched on July 28th to recognize members as more than just professionals. The microsite features seven members with interests outside of the profession and social posts (Twitter and Instagram) from members across the state highlighting their interests. The membership marketing team will continue to feature more individuals throughout the year. Please continue sharing your own interests (beyond work) using #CPAand.