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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What does it mean to be “doing business” in California?
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This week we’re covering what it means to be doing business in California for the purposes of filing returns and paying the annual or minimum franchise tax.
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This week, we’re discussing the use of loan-out corporations, which are in the crosshairs of the EDD for AB 5 purposes.
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This week we’re covering how real estate withholding is reported when the property is owned by a trust.
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This week we’re talking about what factors into a taxpayer’s tax rate and how it can add up.
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FTB has started its annual outreach letter campaign
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This week, we’re covering the FTB’s annual outreach campaign to certain taxpayers who filed Schedule A and Schedule C.
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Episode 88 - Is Bookkeepping Dead? - The Woodard Report Podcast
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On this show, Joe and Heather talk about the evolving nature of bookkeeping and its future, alongside discussions on Heather's recent conference travels. Here are a few key points from their conversation: The Future of Bookkeeping Adapting to Industry Changes Personal Reflections and Predictions Heather's Conference Insights This episode is a deep …
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This week we’re covering when a tax professional may be classified as an employee versus an independent contractor, and exemptions from the application of the ABC test to tax professionals.
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Episode 87 - Nicole Davis' Journey in Accountancy - The Woodard Report Podcast
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On this show, Joe speaks with Nicole Davis. Nicole is a practioner who lives in your world every day doing tax and accounting work as a firm owner dealing with all the same struggles you deal with. She has an truly inspiring story to tell about her life as an accountant. About Nicole Davis: Nicole (Butler) Davis is the founder and CEO at Butler-Dav…
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Be ready to make the June 17 passthrough entity tax prepayment
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This week we’re covering some things to keep in mind about making the June 17 passthrough entity elective tax prepayment.
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MyFTB multi-factor authentication coming soon
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This week we’re discussing the FTB’s new multi-factor authentication process for MyFTB Accounts.
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Episode 86 - Why don't Accountants love selling? - The Woodard Report Podcast
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On this show, Heather speaks with Amy Franko about her journey and insights as a sales strategist. Amy is an expert in modern sales and author of the best-selling book The Modern Seller. About Amy Franko: Amy Franko helps organizations transform sales culture, ignite sales growth, and build high-impact leaders through her strategic selling programs…
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Are your clients just receiving 2022 LLC fee late-payment notices?
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This week we’re covering LLC fee late-payment notices for 2022 that some taxpayers have only recently received.
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Property tax increases for partial transfers
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This week we’re talking about property tax increases for partial transfers of property.
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Episode 85 - SPECIAL EDITION on Non-Compete Agreements - The Woodard Report Podcast
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On this show, Heather and Joe speak about the recent FTC ruling banning non-compete agreements and its implications for the accounting and broader business sectors. Here are the main points discussed: Here are a few key points from their conversation: FTC's Ban on Non-Compete Agreements — As of April 24, 2024, the FTC has banned non-compete agreeme…
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Tax treatment of CalPERS long-term care premium settlement
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This week we’re covering the tax treatment of CalPERS long-term care premium settlement payments.
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Episode 84 - Cannabis Accounting with Naomi Granger and Bruce Anderson - The Woodard Report Podcast
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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
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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
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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
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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
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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
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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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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
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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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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
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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
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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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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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