California tax news snippets from the leader in California tax law analysis — Dedicated to bringing you tips and hot topics that will save you time and save your clients money.
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We empower business advisors to transform businesses. This podcast is your source for information and news you need for your accounting, bookkeeping, or tax practice. Don’t forget to check out ScalingNewHeights.com for information about our conference in June. And if you subscribe to this podcast, we will have a special registration offer just for you coming up soon. For more information, please visit https://www.woodard.com/podcast
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Episode 84 - Cannabis Accounting with Naomi Granger and Bruce Anderson - The Woodard Report Podcast
35:37
35:37
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On this show, Heather speaks with Naomi Granger and Bruce Anderson about the cannabis industry from a financial and regulatory standpoint. About Naomi: Naomi Granger, CPA, MBA, is a seasoned accounting professional with over 18 years of experience, who has dedicated the last seven years to serving the cannabis industry exclusively. Naomi's passion …
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Bill would ease passthrough entity tax prepayment requirement
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This week we’re covering a bill that has been introduced which would allow entities to make a passthrough entity tax election even if they didn’t make a June 15 prepayment.
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Episode 83 - Interview with Kelly Richmond Pope - The Woodard Report Podcast
36:49
36:49
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On this show, Heather speaks with Kelly Richmond Pope about her intriguing journey into forensic accounting, her experiences with fraud, and the human elements that complicate financial crimes. Here are a few key points from their conversation: Kelly Richmond Pope's Background Her Early Interest in Accounting A Personal Anecdotes of Learning About …
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Episode 82 - Randy Crabtree on Fostering a Positive Company Culture - The Woodard Report Podcast
27:47
27:47
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On this show, Joe speaks with Randy Crabtree about the critical elements of fostering a positive company culture, its impact on professional mental health, and its significance in the business environment. Randy Crabtree, co-founder of Tri-Merit Specialty Tax, host of the Unique CPA podcast, and a renowned speaker in the accounting industry, shares…
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Episode 81 - The 5 Technology Fails Most Prevalent In Your Firm - The Woodard Report Podcast
44:24
44:24
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On this episode, Heather and Joe discuss how we do not always get things right with technology. Through experience (and a few genuine mistakes), they share the 5 technology fails most prevalent in your firm. They are: Locally stored files Lack of security (policies, solutions, and systems) Lack of process Old hardware Lack of vetting with software …
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Episode 80 - Oh BOI! Does Beneficial Ownership Information reporting affect your firm? - The Woodard Report Podcast
46:09
46:09
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On this episode, Heather and Joe discuss Beneficial Ownership Information (BOI) requirements and how they may — or may not — affect your firm. This new compliance reporting requirement for businesses is meant to enhance transparency but it comes with a number of questions and caveats. TV and Movie Quotes mentioned: Resident Alien (TV) Blackberry (m…
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Episode 79 - Interview with Dave Kersting, CEO of Capovario - The Woodard Report Podcast
25:57
25:57
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On this episode, Joe speaks with Dave Kersting, CEO of Capovario. Dave drew an incredible response from the audience at Scaling New Heights by delivering a knockout presentation based on his personal life experiences and how those experiences have helped shape his business sense. Community is at the core of both Dave's conversation with Joe and his…
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Episode 78 - Dr. Michio Kaku, Quantum Computing - The Woodard Report Podcast
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On this episode Joe is joined by one of the most esteemed minds in the world of physics, Dr. Michio Kaku. He will be joining us on stage this year at Scaling New Heights! Dr. Kaku has written several books including The Physics of the Impossible. He has appeared on the History Channel television show, The Universe. His most recent works include inf…
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Episode 77 - What is your firm's secret sauce? - The Woodard Report Podcast
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45:53
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What is it that sets you apart from competitors? That is, what is the secret sauce that your firm brings to the world? There are several ways to differentiate your practice from the rest of the competition so in this episode Joe and Heather dive into how you stand out. If you don't currently stand out, how should you? Ultimately, this requires you …
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Episode 76 - Is your price the right price? - The Woodard Report Podcast
43:50
43:50
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Is you price the right price and what are the hidden costs that cause you to be less profitable than you should be? This episode is based on the strategic pricing workshop offered by Woodard. We've seen people go through the workshop and find $50,000 to $75,000 in underpricing (or more!). The people who come to this workshop have no idea how grossl…
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LLC filing essentials: what every tax pro needs to know
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This week we’re covering what a tax professional needs to know about LLC filing requirements.
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Episode 75 - Taking the Power Back - The Woodard Report Podcast
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44:18
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On this episode, Heather and Joe talk about the psychodynamics of client relationships, otherwise known as taking the power back in client relationships. There is a pyschological power struggle in any relationship and it takes on a unique angle when it comes to Client Accounting Services. This isn't about a power trip or ego struggle. This is all a…
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This week we’re covering some enhancements to the MyFTB account system that have improved and streamlined the user experience.
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Episode 74 - Michelle Mitchell on Creating Confident Women CEOs - The Woodard Report Podcast
36:28
36:28
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On this episode, Heather speaks with Michelle Mitchell of Mitchell Consulting. Michelle seeks to create financial freedom for women entrepreneurs by bridging the gap in their knowledge to create confident CEOs. Heather and Michelle talk about gender parity and women in accounting — both what we have been doing and what we should be doing to push th…
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This week, we’re covering the requirement for a nonresident sole proprietor to pay California tax on income received from California.
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Episode 73 - Ingrid Edstrom talks about Accounting Alchemy - The Woodard Report Podcast
31:59
31:59
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On this episode, Heather speaks with Ingrid Edstrom. She's known as the Priestess of Profits and co-founder of the Accounting Alchemy network. As the Priestess of Profits, she offers consulting services for Tours & Activities businesses, speaks publicly, and provides leading-edge accountant education services, resources and consulting to businesses…
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This week we’re covering some key California nonconformity issues for 2023 returns.
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Watch out for these common filing season traps
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4:45
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This week we’re covering some filing season traps that taxpayers can fall into, and what to watch out for to avoid these costly mistakes.
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This week we’re covering what a taxpayer moving out of California needs to do to break ties with the state and actually become a nonresident.
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Passthrough entities have until end of year to maximize federal tax benefits of elective tax
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This week we’re covering why a passthrough entity that made the passthrough entity tax election may want to pay the remainder of the tax by December 31.
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Some older POA declarations set to expire December 31, 2023
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This week we’re covering some older Power of Attorney declarations set to expire at the end of this year, and how to see which declarations are affected in MyFTB.
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Episode 72 - Sharrin Fuller of Glass Wallet Ventures - The Woodard Report Podcast
32:34
32:34
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On this episode, Heather speaks with Sharrin Fuller of Glass Wallet Ventures. Sharrin shares her experience as the CEO of Glass Wallet Ventures and a Managing Partner in two thriving accounting firms. She's an exit expert and runs a program that helps you go from Scaleable to Saleable. Thank you to our show sponsor: Expensify — the expense manageme…
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Annual tax exemption expiring in 2024 for certain entities
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This week we’re covering the expiration of the temporary exemption for the $800 annual tax that’s available for new LPs, LLCs, and LLPs.
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This week, we’re covering tips for splitting refunds when taxpayers divorce.
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California conformity/nonconformity to the SECURE 2.0 Act
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4:37
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This week we’re covering California conformity and nonconformity to various SECURE 2.0 Act provisions.
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Verifying estimated tax payments with the FTB
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4:50
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This week we’re covering some things to keep in mind when verifying estimated tax payments with the FTB.
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This week we’re covering the FTB’s new one-time penalty abatement provision, which goes into effect for tax years beginning on or after January 1, 2022.
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Episode 71 - Facing the Fear of Failure - The Woodard Report Podcast
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44:17
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On this episode, Joe and Heather talk about failure. It's something we all experience in our lives, usually multiple times. The way you approach failure sets you up for success! This is a FUN, EXCITING topic and we shouldn't fear failure because doing so holds us back from achieving incredible success. Thank you to our show sponsors: Expensify — th…
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California tax basis capital account reporting is coming
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This week we’re covering California’s tax basis capital account reporting requirement, which goes into effect after a two-year delay.
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Episode 70 - Mergers and Acquisitions with Bob Lewis - The Woodard Report Podcast
40:04
40:04
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On this episode, Joe speaks with Bob Lewis, one of the top 100 most influential individuals in the industry as recognized by Accounting Today. Bob is a mergers and acquisitons expert. He has a tremendous reputation with the top 200 accounting firms and what he is finding is that the top 500 firms are now buying the smaller, non-credentialed firms. …
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Avoid unclaimed property fines: get into compliance
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This week we’re covering the Unclaimed Property Voluntary Compliance Program to help businesses come into compliance with the unclaimed property reporting requirements.
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Episode 69 - The Future of Client Accounting and Advisory Services - The Woodard Report Podcast
42:05
42:05
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On this episode, Heather and Joe talk about the future of Client Accounting and Advisory Services. The future of CAS (CAAS) will be a series of fusions: The general ledger and workflow solutions fusion The client communications and workflow fusion The fusion between humans and bots The fusion between credentialed and non-credentialed professionals …
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How gross income from tiered LLCs impacts the LLC fee
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This week we’re covering how gross income from tiered LLCs impacts the LLC fee calculation.
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Episode 68 - Process Optimization for Accounting Pros - The Woodard Report Podcast
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44:56
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On this episode, Heather and Joe talk about things that help accountants with various things, otherwise known as process improvement strategies or process optimization. We all have process but the question is, "How do we manage process?" Thank you to our show sponsors: Expensify — the expense management app that does it all, for every business Fyle…
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