Mid-year federal and California update
Steve Honeyman, CPA

• Review new filing rules: COBRA payments, new home purchase, etc.
• Learn about new federal laws passed during filing season:
  • §179 changes
  • Estate tax fix
  • Claiming certain 2010 contributions on 2009 returns
• Find out what will happen to CA tax rates
• Review CA estimated tax payment requirements

Roth IRA conversions
Wayne Otchis, CPA

• Solve the mystery of when Roth money can be withdrawn after conversion
• Find out when and how to make the election to report the conversion
• Look at timing options for making the election
• See how to undo the election
• Consider market timing when making the change
• Decide whether to help the kids by paying tax now

Choice of entity: LLC, S corporation,
or C corporation
Steve Yukelson, CPA

• Look at new and potential new laws that may affect your choice
• Consider different options for different types of businesses
  • Service businesses
  • Retail and manufacturing
  • Investments
• See the benefits and pitfalls for estate planning
• Compare the fringe benefits of each entity
• Understand how “check-the-box” rules work
• When the C corporation is better than the S

Cancellation of debt – the next step
Reneé Rodda, JD

• See if California has conformed to COD
• Understand when you can use the real property exclusion
• Find out what to do if paperwork is wrong
• See how to put numbers on the tax return
• Compare insolvency and other elections
• Compare short sales and foreclosures