12 Fast Tax Facts

Our annual , easy-to-use guide of federal and state tax information is packed with updated tax rate schedules , essential facts , figures and key data . Designed to help you breeze through tax season , keep this time-saving resource by your side during the busy tax season .

3 Living Out the ‘ Public ’ in CPA

As the giving season kicks into gear , CPAs are at the heart of this movement , whether they ’ re giving themselves or providing the financial know-how to help others make an impact . DENISE LEDUC FROEMMING , CPA , CAE , MBA

10 Loan-out Corporations

While loan-out corporations are a common way of doing business in California , these types of corporations have recently come under scrutiny . JAMES C . COUNTS II , CPA

4 News & Trends

16 Risk Management

CPA firms face numerous challenges as they navigate each tax season ’ s nuances . Now , more than ever , CPA firms need to be proactive to mitigate risks and prioritize performing the “ right services ” for the “ right clients .” SUZANNE M . HOLL , CPA

19 Capitol Beat

From tax policies to CPA pipeline issues to financial literacy for high school students , here ’ s a look at what our advocacy and public affairs team has focused on in 2024 . JASON FOX

California

magazine . calcpa . org Volume 93 , No . 5 , November 2024

California Society of Certified Public Accountants

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Art Direction & Design Lynn LaRocca-Low lynnlarocca @ gmail . com

Office 500 Capitol Mall , Suite 2350 Sacramento , CA 95814 ( 800 ) 922-5272

www . calcpa . org

California CPA ( ISSN 1530-4035 ) is published monthly except for February and April by the California Society of Certified Public Accountants , 500 Capital Mall , Suite 1760 ; Sacramento , CA 95814 . Periodicals Postage Paid at Sacramento , CA . Members receive California CPA regularly . Nonmember subscription rate : $ 75 per year , or $ 8.50 per issue ; foreign rate : $ 110 per year . Remit U . S . funds only .

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All correspondence pertaining to advertising or nonmember subscriptions should be addressed to the Advertising Department ; POSTMASTER : Send address changes to : California CPA ; Customer Services ; California Society of CPAs ; 1800 Gateway Drive , San Mateo , CA 94404 . Publication of an advertisement in California CPA does not constitute endorsement of the product or service by California CPA or the California Society of Certified Public Accountants . Items published in California CPA , unless otherwise specified , represent the views of the authors and individuals quoted .

2 CALIFORNIA CPA NOVEMBER 2024 www . calcpa . org