Description
The California Tax Education Council was established by the California State Legislature to promote competent tax preparation within the State of California, California law requires anyone who prepares (or assists with) tax return for a fee, and is not an attorney, certified public accountant (CPA), or enrolled agent (EA) to register with CTEC.
2020 California Continuing Education
TABLE OF CONTENTS
CHAPTER 1
CALIFORNIA ETHICS
- What if the tax preparer is not registered
- Ctec- California registered tax preparer (guide)
- Disclosure information
- California conforms to federal law regarding safeguarding taxpayer information
- California Ethics Review Questions
- California Ethics review Answers
CHAPTER 2
- What is a tax preparer his/her authorization rights and penalties
- Who is exempt from register who is not exempt from registering
- Federal Form 8821
- Boe 392
- Power of Attorney (Form 3520)
- Review Questions
CHAPTER 3
- Filing status and Exemptions
- Determine filing status
- Community property state
- Single
- Married filing jointly
- Married filing separately
- Head of Household
- Registered domestic partner
- Qualifying person
- Married/RDP qualifying child
- Unrelated person
- Examples
- Special rules for a dependent parent
- Considered unmarried
- Nonresident alien/spouse
- Form FTB 3532, HOH
CHAPTER 4
- Individual filing requirement
- Resident, nonresident, and part-year resident
- Residency requirements
- Safe Harbor
- How to report income is she/he files joint or separate returns
- Examples
- Filing a separate return
- Income from a sole proprietorship
- California exemption credit
- Splitting deductions
- Splitting business and investments expenses
- Withholding and estimated tax credit
CHAPTER 5
- Standard deduction
- Dependents
- Exemptions
- Deceased tax preparer
- Summary
- Self-Quiz
CHAPTER 6
- Income taxable by California residents
- Income taxable by California nonresidents
- Part-Year Residents
- California source income
- Community property income
- Business income
- Real estate sales
- Stock and Bonds
- Retirement Income
- California excluded income
- Social security benefits
- Other Income
- Fringe Benefits
- Adoption of real expenses
- Part-Year Residents
- Credit for taxes paid in another state
- Interest and Dividends
- Business Income Loss
- Pensions and Keoghs
- Sale of Real State
- Withhold service and compliance
- Airline employee
- Interstate rail and motor carrier employees
- Merchant seamen
- Taxable refunds, credits, or offsets of state and local income
- Health saving account
- Mortgage forgiven debt relief
- Self-Quiz
CHAPTER 7
- Other taxes and taxpayer penalties
- Form 3800
- Social security and Medicare tax
- Alternative minimum tax
- Additional tax on IRAs
- House Hold employees
- Real estate withholding
- Like-kind exchange
- Form 593
CHAPTER 8
- Nonrefundable and refundable tax credits
- Child and dependent care expenses
- Qualifications
- California earned income tax credit and Young child tax credit
- Claim the credit
- How claim the credit
- Penalties when you file a tax return late or don’t file
- Corporation Penalties
- Self-Quiz
- California portal
- Records information
- California CARES Act
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