The Channel Islands ENROLLED AGENT

Transcription

1 The Channel Islands ENROLLED AGENT VOLUME 2015 NUMBER 6 JUNE 2015 Editor, Pam Bunk 340 Rosewood Ave, Ste H Camarillo, CA / / Fax [email protected] CICSEA DINNER MEETING President Bart Ketterling, EA 2299 E. Main Street #8 Ventura, CA / / Fax [email protected] Meeting Date: June 4, 2015 Board Meeting Dinner Program 5:00 P.M. 6:00 P.M. 7:00 P.M. Director/Past President Russ Merrick, EA 340 Rosewood Avenue, Suite H Camarillo, CA / / Fax [email protected] 1st Vice President Ridgway Pope, EA 268 N. Ashwood Avenue Ventura, CA / [email protected] 2nd Vice President John H. Blaubach, EA PO Box 337 Santa Barbara, CA / / Fax [email protected] Secretary Paula Mixon, EA 4882 McGrath St Ste #230 Ventura, CA / / / Fax [email protected] Treasurer Duane Johnson, Sr, EA 2390 Las Posas Rd C445 Camarillo, CA / / Fax [email protected] Immediate Past President Dale R. Machalleck, EA PO Box 5606 Montecito, CA / / Fax [email protected] State Director/Past President Susan DiMaggio, EA PO Box 6279 Ventura, CA / / Fax [email protected] Director/Past President Margaret Kehoe, EA PO Box 5425 Oxnard, CA / Cell 805/ Fax [email protected] SEE OUR NEW UPDATED WEBSITE! Program: ACA Premium Tax Credit & Penalty for Not Being Insured 2 hrs CPE Lee Reams, Sr, EA Where: Marriott Courtyard, formerly Radisson Hotel 600 E. Esplanade Drive, Oxnard (Vineyard offramp & Highway 101) For directions, please call 805/ R.S.V.P. Deadline: June 1, :00 Noon R.S.V.P. via 123 SignUp at - Scroll down and click where it says On-Line Registration - Select your event to register or R.S.V.P. Linda Wall, EA at 805/ or R.S.V.P. by Fax 805/ or R.S.V.P. by [email protected] Price: $35 Members $40 Non-Members $5 Additional at the door for members and non-members without reservations We accept Visa and Mastercard PLEASE INDICATE VEGETARIAN OPTION WHEN MAKING RESERVATION! Payment: Cash or check payable at the door to Channel Islands Chapter CSEA *If you have made a reservation you must cancel if you cannot attend. Otherwise, you will be billed for the amount of the dinner. Reservation deadline will be strictly applied. CTEC #1001-CE-7771 IRS #WZA09-T I Director/Web Master Robert Cantu, EA 944 Cliff Drive Santa Paula, CA / / Fax [email protected] Director Linda A Wall, EA 1068 E Main Street #130 Ventura, CA / / Fax [email protected] Director Maryann Fiore-Hopkins, EA 2045 Royal Ave #216 Simi Valley, CA / / Fax [email protected] Director Lynne C. Sequeira, EA 79 Daily Drive #187 Camarillo, CA / Fax [email protected]

2 Channel Islands Chapter CSEA June 2015 PRESIDENT S MESSAGE Now that the rush of tax season is over, we turn our attention to Continuing Education Season. One of my mentors used to say "If you think Education is expensive, you should try Ignorance!" Our big education event of the summer is "Partnership/LLC Intensive" with Vicki Mulak, EA. That is also the biggest fundraiser for our Chapter. Continuing education seminars are the primary funding source for California Society of Enrolled Agents at the state level and also at the chapter level. Super Seminars in Reno and Las Vegas are the largest revenue generators for CSEA. Online education is cheaper, but you miss out on the discussions and building relationships with fellow members and the speakers. I would like to encourage each one of you to make it a top priority in the coming year to attend all of our chapter events and also to attend Super Seminar in Reno or Las Vegas. Bart Ketterling, EA Chapter President INTRODUCTION TO OUR SPEAKER ACA PREMIUM TAX CREDIT & PENALTY FOR NOT BEING INSURED LEE REAMS, SR, EA Lee T. Reams, E.A. is an owner and Chief Technology Officer of ClientWhys. Educated as an engineer, with a Bachelor's Degree in Mechanical Engineering, Lee left his engineering career in 1975 to expand his part-time tax practice into a full-time career with a tax practice of 700 clients. In 1978, he founded IPS, which evolved into ImageOne, a leading national provider of office and practice management products, serving the tax, accounting, and financial planning industries as well as live and self-study CE. After the sale of the ImageOne printing division, ClientWhys was spun off including the highly popular Internet Products for CPAs, EAs, and other tax professionals as well as the CE Division. Besides writing web content, tax blogs, CE courses and annually editing the Big Book of Taxes, Lee is a speaker for the ClientWhys Seminar series. He also oversees the very popular online tax forum, CWconnect that sharpens his technical skills. Lee is a former founding Board Member of the California Tax Education Council, is a Past President and current Board Member of the San Fernando Valley Chapter of Enrolled Agents, Member and Past Director for the California Society of Enrolled Agents.

3 A PARTNERSHIP/LLC INTENSIVE ONE DAY WORKSHOP/SEMINAR VICKI L. MULAK, EA CFP Tuesday, June 16, :30 am - 5 pm Courtyard by Marriott 600 East Esplanade Drive Camarillo, CA INSTALLATION OF OFFICERS 2015/2016 BY MARGARET KEHOE, EA Installation of Officers and Directors will be held at the June 4, 2015 meeting. The Nominating Committee is pleased to present the following slate for the year: CICSEA SLATE OF OFFICERS President Bart Ketterling, EA 1st Vice President Ridgway Pope, EA 2nd Vice President & Monthly John Blaubach, EA Program Chair Secretary Paula Mixon, EA Treasurer Duane Johnson, Sr, EA Immediate Past President Dale Machalleck, EA Past President/State Director Susie DiMaggio, EA Past Presidents & Directors Russ Merrick, EA Director/Web Master Bob Cantu, EA Directors Linda Wall, EA Maryann Fiore-Hopkins, EA Lynne C. Sequeira, EA Nancy Huapaya, EA Newsletter Editor Russ Merrick, EA/Pam Bunk

4 IRS REFUNDS TAX PREPARERS FOR COMPETENCY TESTS The IRS is to refund thousands of tax preparers who paid $116 each to take a competency test, part of a program later struck down as unconstitutional by a federal court. Between November 2011 and January 2013, some 89,000 tests were taken; however, the IRS attempt to regulate the tax prep industry was ruled to have been beyond its legal authority. In total, it will pay out $10m to those who sat the exams. BOB CANTU, EA SAYS SIGNUP...WOW! SIGN UP FOR ALL YOUR CPE EVENTS 24 HOURS A DAY! New to our website, we now offer On-Line Registration via 123 SignUp. Save time and no waiting in long lines. Visit our CICSEA website at scroll down and click where it says On-Line Registration. This will log you into the 123 SignUp page where you select the event and click the Register button. Simply follow registration steps through the check-out process where you will pay with your credit card. Once your registration is complete you can print your receipt and even add the event to your Outlook calendar. While you are in the 123 Signup website, you can view and register our other scheduled events. ATTENDANCE DRAWING Congratulations to Marie Pratt, EA whose name was drawn at the Attendance Drawing and will win $55.00 if she attends the June 4, 2015 CICSEA meeting. If for any reason she is not able to attend, then her prize is forfeited and $20.00 is added to the "pot" and another name is drawn until someone wins. Our chapter will continue the monthly Attendance Drawing until the June 2015 meeting. A container will have in it ALL the names of members in good standing. The amount of the first drawing will be $ To win the prize, the member must be in attendance at the next month s meeting. If for any reason they are not able to attend, they forfeit the prize and $20.00 is added to the "pot" and another name is drawn until someone wins. Once a member's name has been drawn out of the container, it will be replaced in the container. Each time the drawing is re-started, the pot will start at $ There is no limit to the number of times a member can win. This will be decided by the luck of the draw. We are trying to encourage continued attendance. Good luck to all! CTEC ADVERTISING DISCLOSURES CSEA has been approved by the California Tax Education Council to offer ACA Premium Tax Credit & Penalty for Not Being Insured, Lee Reams, Sr, EA, #1001-CE-7771, IRS #WZA09-T I, which provides 2 hours of Federal Tax Topics, and 0 hours of state credit towards the annual continuing education requirement imposed by the State of California. A listing of additional requirements to register as a tax preparer may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA, , toll-free by phone at (877) , or on the Internet at Sign Up for Client Whys 1040 Review & Update Seminar November - Do it Now...See attachment to sign up! 1040 Review & Update Seminar (In co-sponsorship with ClientWhys, Inc.) November 3 & 4, 2015 (Tues & Wed) Courtyard by Marriott 600 East Esplanade Drive, Oxnard, CA 93036

5 JOKE OF THE MONTH! Q: Who invented copper wire? A: Two tax attorneys fighting over a penny. BRAIN TEASER What is this? gesg segg gegs gges Answer at end of newsletter! TAX CALENDAR Individuals. June 15. Make a payment of your 2015 estimated tax if you are not paying your income tax for the year through withholding (or will not pay in enough tax that way). Use Form 1040-ES. This is the second installment date for estimated tax in Corporations. June 15. Deposit the second installment of estimated income tax for THE CLASSIFIEDS If you would like to place an advertisement (for a nominal fee to help offset the cost of the newsletter) please contact Pam Bunk, at 805/ or at [email protected]. COMING EVENTS 2015 Plan Ahead Mark Your Calendar June 4, 2015 June 16, 2015 July 2, 2015 August 6, 2015 September 3, 2015 October 1, 2015 ACA Premium Tax Credit & Penalty for Not Being Insured Lee, Reams, Sr, EA, 2 hrs CPE A Partnership/LLC Intensive Vicki Mulak, EA CFP, 8 hrs CPE Marriott Courtyard Hotel Tangible Property Repair Regulations Update and Going Forward Mark Seid, EA, CFP Form Deceased Spouse Unused Exemption Margaret Kehoe, EA Dinner meeting TBA Dinner meeting Vicki Mulak, EA, CFP

6 PLEASE NOTE If you wish to receive this newsletter, please contact and provide us with your address. If your address changes, please be sure to let us know. th If you have articles of interest to be published, please to by the 15 of the month. All submissions should be done via . MISSION The mission of the Channel Islands Chapter of the CSEA is to foster the professionalism, business development and personal growth of our Members; to protect the interests of the individual Members and the Chapter; and to enhance the awareness and role of the Enrolled Agent among members of the public, other professions and with governmental agencies CICSEA OFFICERS & COMMITTEE CHAIR CONTACT INFORMATION President Bart Ketterling, EA 1st Vice President Ridgway Pope, EA 2nd V.P. & Program chair John Blaubach, EA Secretary Paula Mixon, EA Treasurer Duane Johnson, Sr, EA Immediate Past President Dale Machalleck, EA State Director Susie DiMaggio, EA Annual Review Carol Emschwiller Brass Tax (2) / Client Whys Russ Merrick, EA [email protected] ByLaws/TALC Jennifer MacMillan, EA [email protected] CI Seminars Nancy Huapaya, EA [email protected] Director at Large Margaret Kehoe, EA [email protected] Director at Large Don Graf [email protected] Disaster Education Reporting Russ Merrick, EA [email protected] Finance & Budget Lynne Sequeira [email protected] Hospitality Russ Merrick, EA [email protected] Legislative Affairs Ridgway Pope, EA [email protected] Membership Maryann Fiore-Hopkins, EA [email protected] Newsletter Russ Merrick, EA/Pam Bunk [email protected] Nominating Dale Machalleck, EA [email protected] PAC Susie DiMaggio, EA [email protected] Practice Preservation Paula Mixon, EA [email protected] PIA Co-Chair Linda Wall, EA [email protected] PIA Co-Chair Robert Cantu, EA [email protected] SEE/Scholarship Dale Machalleck, EA [email protected] Website Robert Cantu, EA [email protected] Scrambled eggs