12 Head of the Class

It doesn ’ t take long to realize the importance of family to 2024-25 CalCPA Education Foundation Chair Ruben Davila . And as the first in his family to attend college , it seems fitting that he ’ s teaching tomorrow ’ s CPAs as a professor at USC Marshall School of Business Leventhal School of Accounting . Learn more about him , his career and involvement with CalCPA in this Q & A .

15 Yours , Mine and Ours

When it comes to claims related to separate property and community property during a divorce , it ’ s important to maintain adequate records . CHRISTOPHER D . HAYS , CPA / ABV , ASA , CVA , CFE

17 The Future of PTE

There have been some questions and pain points surrounding implementation of the pass-through entity elective tax — and more legislative changes may be coming to the program to be aware of . BRYAN D . BLYTHE , CPA

3 It ’ s Material 11 Capitol Beat

19 A Sustainable CPA Workforce

With a decline in recent graduates entering the accounting profession , the urgency of addressing diversity , equity , belonging and inclusion has never been more pronounced . TING SONG

20 CalCPA Health

As CalCPA Health celebrates its 65th anniversary , it remains committed to its founding principles while also looking forward to health care innovations to enhance the well-being of California ’ s CPAs and financial professionals . magazine . calcpa . org Volume 93 , No . 3 , September 2024

California Society of Certified Public Accountants

Associate Director , Communications Aldo Maragoni aldo . maragoni @ calcpa . org

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 2350 ; 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 SEPTEMBER 2024 www . calcpa . org