Join us at our Member Meeting
Tuesday, November 9th at 12:00 PM
Ring Around Now Rosy SALT Deduction – Calif’s AB 150 PTET
Leslie Sobol - Lucas, Horsfall, Murphy & Pindroh, LLP
Leor Hafuta - Hafuta Law PC
Both In-Person and Virtual Attendance Available
In-Person Attendance: Members $40 and Non-members $50, Virtual Attendance: No Charge
In-Person Attendance
Whittier Trust Company's Board Room
4695 MacArthur Court, Suite 1500, Newport Beach, California 92660 • www.whittiertrust.com
Begins at 11:50am
Limited in person and spaced seating. Appropriate local mask and distancing rules will apply to all in person gatherings.
Click Here to Register Online for In-Person Attendance
Virtual Attendance
12:00 pm - 1:00 pm
Click Here to Register Online for Virtual Attendance
Our speakers will present on California’s SALT deduction limitation work-around. Just this year, California passed AB 150 into law which creates an optional passthrough entity tax regime that provides owners of certain passthrough entities a viable workaround to the $10,000 SALT deduction limitation for U.S. federal income taxation. There are technical rules to understand and elections to put in place with related deadlines. The speakers will discuss the new law, how it works, and why it may or may not be beneficial to make such an election. Plus, there may be planning that needs to be in place as soon as possible to ensure that a California taxpayer can effectively trigger the application through relevant pass-through entities. Do the LLC agreements need to be re-drafted? Should sole proprietors consider creating an entity? Will the election impact an S-election? Are there other traps for the unwary?
Leslie Sobol
Lucas, Horsfall, Murphy & Pindroh, Pasadena, California
Lucas, Horsfall, Murphy & Pindroh, Pasadena, California
Leslie Sobol brings an entrepreneurial spirit and broad experience advising family and closely-held businesses from inception to ensuring future generational wealth. With more than twenty years of experience as a CPA and MST, she specializes in strategies and holistic solutions for closely-held businesses.
Leor Hafuta
Hafuta Law PC, Los Angeles, California
Hafuta Law PC, Los Angeles, California
Leor Hafuta uses his broad experiences as an attorney, CPA, LLM in Taxation, and business owner to advise clients on estate planning, trust administration, taxation, and business matters. He specializes in helping individuals and families create and implement strategies to pass closely held businesses, real estate, and other assets to future generations in a tax-efficient manner.
Objective: Understanding the complex SALT deductions in California
There are no prerequisites for this program.
There is no required advanced preparation.
The Program Level for this will be basic.
Delivery Method: Group Internet based
Prerequisites and Program Content:
There are no prerequisite education or prior experience needed for any of STEP Orange County’s meetings or events. All sponsored events are relevant learning objectives to assist in the continuing education for MCLE and CPE. All levels are encouraged to participate and all participants will take away knowledge regarding the subject matter. There is also no advanced preparation needed for any of the meetings or events.The field of study for this program is Taxes and will be delivered by Group Live Method.
STEP Orange County is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE Credit. Complaints regarding registered sponsored may be submitted to the National Registry of CPE Sponsors through its web site: www.nasbaregistry.org
Compliant/Refund Resolution Policy:
For more information regarding administrative policies such as complaints and refunds, please contact Greg Custer or other Board Members of STEP Orange County.
Greg Custer: (949) 216-2202