The CACPAA will held a free Tax Webinar from 2:00-4:00 pm on January 23, 2021. We have invited an IRS specialist and many experienced CPAs to help everyone better understand and plan for taxation in 2021.
Media Reports:
美新社：中美会计师协会特邀国税局和财税专家举办大型线上免费CPE及专家讲座
美国新闻中心：中美会计师协会特邀国税局和财税专家举办大型线上免费CPE及专家讲座
侨社之声： 中美会计师协会特邀国税局和财税专家举办大型线上免费CPE及专家讲座
美国城市新闻网：中美会计师协会特邀国税局和财税专家举办大型线上免费CPE及专家讲座
凤凰华人资讯网: 中美会计师协会特邀国税局和财税专家举办大型线上免费CPE及专家讲座
The CACPAA invited experts from the Internal Revenue Service to explain the requirements of international tax compliance and related forms. This event will be held from 2:00 – 5:30 p.m. on January 22, 2021, and will provide CPE credits to each participating audience. If you are interested, please RSVP.
Media Reports:
美新社：中美会计师协会特邀国税局和财税专家举办大型线上免费CPE及专家讲座
美国新闻中心：中美会计师协会特邀国税局和财税专家举办大型线上免费CPE及专家讲座
侨社之声： 中美会计师协会特邀国税局和财税专家举办大型线上免费CPE及专家讲座
美国城市新闻网：中美会计师协会特邀国税局和财税专家举办大型线上免费CPE及专家讲座
凤凰华人资讯网: 中美会计师协会特邀国税局和财税专家举办大型线上免费CPE及专家讲座
Part of the text are excerpts from: News Agency America
More than 30 industry experts and elites were invited to this webinar to give speeches for everyone, which took the form of an online forum thru Zoom to facilitate participation under the quarantine. The whole event lasted from 10:00 am to 9:15 pm, and was divided into a science forum in the morning, a career forum in the afternoon, and an annual meeting of the league in the evening. All special guests are as follows：
The CACPAA invited ten experts to give speeches at the Career Forum. From 1:00 pm to 5:00 pm, the topics of the speeches involve taxation, law, financial management, finance, artificial intelligence, fashion, business management, medical treatment, and humanities. These are the topics everyone is concerned about.
The president of CUAAASC, Jun Sun, said that 2020 is a year of witnessing history. In view of the structural problems of technological and industrial competition between China and the United States, it is very difficult for us as immigrants who had come from China. On top of all these difficulties, we are faced with more complicated problems brought about by the pandemic, and everyone’s life is uneasy. In the face of these problems, we not only need to stay positive but also must remain united to help each move forward. By keeping up with the trend, embracing technology and innovation, learning to invest, becoming more competitive, we will be the future followers, innovators, and leaders. There are no other ways.
As we are about to bid farewell to the extraordinary 2020, the CUAAASC, the CACPAA, and the THUAASC joined forces to plan this forum together. In this webinar, a total of 28 guests were invited to share all aspects of the new era of technology, innovation, investment, entrepreneurship, and related tax laws.
We believe that this webinar will spark up ideas and appreciation for the great prospects of science and innovation. We also hope open up dialogues among Chinese friends about innovation and entrepreneurship through such a grand event., and that everyone can be inspired toward entrepreneurial enthusiasm, so as to build a new ecosystem for Chinese entrepreneurs in Southern California and make more contributions to the region.
Chongyang Luo, president of the Tsinghua University Alumni Association of Southern California, said that he felt honored to be one of the co-organizers of this forum and wished the event a complete success.
CACPAA President Jeff Huang, CPA (on the right) stated that 2020 is a very special year with the outbreak of Covid-19 and the passing of various tax laws. He believes that since everyone is in need of better, more updated, and professional knowledge, the CACPAA can serve everyone in the community by organizing more free webinars like this one. As the president of a professional association that has gathered together a large crowd of industry elites, Jeff expressed his wish for CACPAA to regularly launch large-scale professional lectures in cooperation with other associations and communities, and he hopes everyone will continue to give interest and participate in them. Any accountants, lawyers, investment and financial professionals, insurance, real estate, education, and other industries elites are also welcome to join the association to develop the Association and community together.
One of the main organizers of this forum, Mary Lin, vice president of the CACPAA, said that she was very happy to be able to organize such a meaningful event with the CUAAASC and THUAASC. With the current epidemic situation continuing, holding such online seminars will make it easier for everyone to participate. Event organizers have invested a lot of manpower and resources to prepare the forum, and strived to satisfy the audience. The topics of the webinar are what everyone is most concerned about. The content is rich and fits the current situation. Chenny Huang, secretary-general of the CACPAA, thanked all parties for their hard work and the devotion of a lot of time and energy to this forum, thanked the sponsors for their strong support, and thanked the planning team and volunteer team for their selfless dedication. With hard work, this event was a complete success.
The host Ye Tan and Howard Li thanked all parties for their hard work and dedication for this forum, and especially thanked the famous American entrepreneur and philanthropist Charlie Zhang who provided the venue for this event. At the same time, we also thank the sponsors for their strong support and the planning team and volunteer team for their selfless dedication.
The speakers and topics of this forum are as follows：
Charles Zhang came to America in 1980 with twenty dollars in his pocket. With hard work, determination and belief in the American dream he transcended many obstacles to achievement in and outside of business.
From dishwasher and gas station attendant to founding the successful Pick Up Stix, the popular take-out chain, Aseptic Solutions USA and Zion Enterprises, a real estate company dedicated to revitalizing communities. He has been named Entrepreneur of the Year by Ernst & Young, he is the Recipient of the prestigious Ellis Island Medal of Honor; in addition, he has been named Distinguish Leader Honoree by Segerstrom Center for the Arts, and OC Arts Award Visionary Arts Patrons. Charlie also participated in a Tedx Talk show.
Outside of his work life, Charles dedicates his full time towards giving back to the community, providing others the opportunity to strive and create new success stories. Charles has been a Concordia University supporter of many local & international communities, such as the Pacific Symphony, Pacific Chorale and multiple Universities.
Charlie’s latest community contribution is the OC Music & Dance located in Irvine, CA. This center will provide the community a world-class facility in which people of all ages, experience levels, and cultures can come and participate in dance and music classes.
Charlie aims to help communities gain a better understanding of each hopes to and improve and develop the relationship as our society continuously becomes more and more diverse on a daily basis.
Coral Chen Chung is an entrepreneur, former strategy consultant and tech executive. Coral is currently the Founder and CEO of SENREVE, a next generation luxury brand for the millennial professional woman. SENREVE launched in November 2016 to focus on revolutionizing the luxury industry by marrying tradition and innovation with a direct-to-consumer business model. The company has experienced significant growth globally over the past 3.5 years and has raised over $23M. SENREVE was recently recognized as one of the Lead’s Foremost 50 digitally native brands.
Coral has always had a strong passion for luxury retail and consumer brands, which led her to work with the Global COO as well as the CEO of Americas for Prada on marketing, commercialization, distribution related special projects prior to the company’s IPO.
Coral started her career at Bain & Company where she advised Fortune 500 companies and global private equity firms on M&A, market entry strategy, and operational improvements. She later developed a focus on consumer brands, retail and technology. Coral also worked in corporate development at Solazyme (dba TerraVia), and was involved in developing its popular Algenist product, a top performing beauty brand currently sold at Sephora and other luxury cosmetics retailers.
Prior to founding SENREVE, Coral was a Principal at Medallia and helped lead the company’s retail vertical. Medallia is a big data analytics and customer experience SaaS company that last summer had a successful IPO valued at ~$4.4B. While at Medallia, she worked with leading luxury and global retail brands like Apple, Nike, Sephora, Tory Burch, and Nordstrom.
She is also a supporter of the arts and education including the San Francisco Ballet, San Francisco Opera, the Asian Art Museum and the Metropolitan Museum of Art in NYC. She currently sits on the Harvard Paulson School of Engineering & Applied Sciences Dean’s Advisory Board and is a member of the Young Presidents’ Organization. Coral has been featured in Forbes, Vogue, InStyle, Entrepreneur, Huffington Post, WWD, South China Morning Post, among other global publications. Coral is also a member of Vogue 100 and has been recognized by Prestige in 2020 for its 40 under 40 list of innovators.
Coral is a Huntsman Scholar graduate of University of Pennsylvania and The Wharton School; BA in International Studies, BS in Economics magna cum laude. Coral received her MBA from Stanford Graduate School of Business where she is a guest lecturer and speaker.
Coral Chen introduced the brand Senrene she founded during the event and shared her successful experience with everyone.
Dean Jingcheng Dong: second-level professor, doctoral supervisor, post-doctoral mobile station director, member of the Shanghai Municipal Committee of the Chinese People’s Political Consultative Conference. Fudan University National “Double First Stream” and Shanghai Peak Discipline-Integrated Traditional Chinese and Western Medicine Discipline Leader, Dean of the Institute of Integrated Traditional Chinese and Western Medicine, Fudan University, Director of the Department of Integrated Traditional Chinese and Western Medicine (Clinical, Basic), Huashan Hospital, Huashan Hospital Director of the Combination Section, Director of the World Health Organization Fudan University Traditional Medicine Cooperation Center.
Chief Scientist of National “973” Project, Head of National Key Clinical Specialty Department of Ministry of Health, Deputy Chairman of Teaching Steering Committee of Integrated Traditional Chinese and Western Medicine of Higher Education Ministry of Education, Qi Huang Scholar, Head of Key Subject Construction of State Administration of Traditional Chinese Medicine, World Chinese Physician Council Member of the Association, Vice President and Secretary-General of the World Chinese Association of Chinese Medicine Physicians, Director of the China Association of Integrative Medicine and Chairman of the Respiratory Disease Professional Committee, Vice President of the Chinese Medicine Branch of the China Medical Promotion Association, Editor-in-Chief of the Journal of Traditional and Modern Medicine (English Edition)。
President Dong Jingcheng is mainly engaged in the diagnosis and treatment of lung diseases, tumors, and geriatric diseases with integrated Chinese and Western medicine, and related basic research. He is also engaged in the development of new Chinese medicines, as well as the comparative study of traditional Chinese medicine from multiple ethnic groups and the research on the overall structure of traditional Chinese medicine. He has published more than 260 papers (including more than 100 SCl articles), won 6 provincial and ministerial awards, 6 patents and software copyrights, and edited many monographs.
Paul P. Cheng, former prosecutor, current member of Arcadia City, a well-known trial lawyer in Southern California, a trial lawyer of the U.S. Supreme Court, former president of the San Gabriel Valley Chamber of Commerce, member of the National Academy of Best-selling Authors, Senior partner of the firm, and has won many awards including “California Super Lawyer” and “Los Angeles Most Outstanding Lawyer” by mainstream media in the industry for many years.
Paul grew up in the United States and has traveled to Asia many times to give lectures. In China, he was invited to visit Beijing University to give lectures for Staff and students of the School of International Studies.
Nowadays, Paul has to deal with many large-scale commercial litigation cases on weekdays. He hopes that his professionalism can bring more positive impact to the society, especially hope that he can bring considerable help to the Chinese community.
Law Offices of Paul P. Cheng & Associates has a team of professional litigation and defense trial lawyers, and the professional lawyer review ranks 2.5%. It has been listed in Inc 5000 magazine for many years as the fastest-growing private company in the country.
Jeff Huang, CPA holds an MBA from Cal State University. The current president of the CACPAA. Graduated from Sun Yat-Sen University. He had experience working in one of the big four accounting firms in the United States.
He has played an important role in finance and accounting in Merrill Lynch’s acquisition of First Franklin with a total value of 1.3 billion US dollars. Jeff hopes to better serve the Chinese community through more than 20 years of experience in the professional field.
Jennie C Li CPA graduated from the Department of International Economics, Beijing University, China, and holds an MBA from the University of Hawaii. Jennie has 20 years of working experience in the taxation department and more than ten years of rich experience in serving new immigrants and small and medium-sized companies in the Chinese community. Jennie obtained the California CPA certification in 2002. She is a member of the National and California CPA Associations, and serves as the treasurer and a member of the Board of Directors of the CACPAA.
Chenny Huang, Certified Public Accountant in China, Enrolled Agent in the United States, and Secretary general of the CACPAA.
Graduated from Sun Yat-Sen University and Fudan University. He has been engaged in accounting and taxation work for more than 20 years and is familiar with the tax laws in China and in the United States.
Served as a senior executive of a listed fund management company, secretary of the board of directors, and tax planning for a number of listed companies and multinational companies. Areas of expertise: Chinese accounting practice and compliance, financial consulting and tax planning; US tax practice and planning.
Diane Chen:
Areas of Profession: Annuity, Life Insurance, Long-term Care and complete retirement financial planning such as Medicare after age 65。 Set up provincial tax planning for SME owners, 401K, IRA, Pension Plan。
Awarded countless times: Won many awards from major insurance companies, including Allianz Life, AIG, Metropolis and other honorary awards.
Dr. Zhan Ying has a PhD from Renmin University of China, a postdoctoral fellow at Tsinghua University, a senior registered enterprise risk manager, a senior risk assessor, a member of the Jiu San Society, a member of the Jiu San Central Innovation Promotion Committee, and a member of the Wang Xuan Foundation expert group.
Dr. Zhan Ying has worked in the financial field for nearly 30 years, from the early Tonghua Dongbao and Jilin Forest Industry to the later Fengfan Co., Ltd., Fafa Technology, Haite High-tech, Zhiguang Electric, Derun Electronics, Xiangxue Pharmaceutical, Ketai Power, etc. She has presided over or participated in nearly 150 IPOs, refinancing, mergers and acquisitions and reorganization projects, and has extensive experience in investment banking, investment management, and risk management.
Appointed Ms. Zhan Ying as Secretary of the Board of Directors and Member of the Decision Committee of Toolots Inc. since 2017. She mainly engages in the work of the company’s capital operation, including capital acquisition, capital allocation and capital integration.
“關於風險管控，最好的方法是防患於未然。風險無處不在，機遇同時伴存。與企業而言，管理風險不可怕，最致命的風險在於戰略風險，壹個企業的戰略錯了，那絕對是滅頂之災。任何壹個企業，同時也是壹個社會的微縮，要講清其中奧妙，非常之難，我也還在學習中。”
戰 穎
（from Toolots Inc Website, Click Here）
Dr. Lingyun Gu holds a PhD and a master’s degree in computer science from Carnegie Mellon University and a bachelor’s degree in electronic engineering from the University of Electronic Science and Technology of China. Founded ZestFinance in 2015 and served as chairman and CEO. At the same time, he also served as a director of Beijing Zhongke Jincai Technology Co., Ltd. (002657), an investment partner of Fengrui Capital, a visiting professor at the University of California, Irvine, Southeast University, and University of Electronic Science and Technology, and an entrepreneurial mentor at Nanjing University.
Dr. Gu Lingyun has rich experience in risk assessment of small and micro enterprises and individuals based on artificial intelligence technology. He has served as the founder and head of the ZestFinance model group, IDG Capital’s resident entrepreneur and investment consultant, and the chief scientist of Kabbage.
Dr. Gu Lingyun obtained 3 patents in the United States, 14 patents in China, and published dozens of papers; he was awarded the innovation and entrepreneurial talents of the Ministry of Science and Technology of China, and the 30th anniversary of the development and opening up of Shanghai Pudong, a scientific and technological worker with outstanding contributions, a global scientific entrepreneur G200 And many other honors.
Dr. Gu Lingyun has also received interviews and reports from mainstream Chinese and American media such as the Los Angeles Times, New York Times, Forbes, China Central Television, People’s Daily, Xinhua.net, Tencent Finance, and Sina Finance, and has participated in the G20 Summit, IJCAI Forum, Money2020, Tsinghua Wudaokou Served as the keynote speaker in many international forums and summits such as the Global Financial Forum.
Ms. Ye Tan is a well-known host in Tianjin. She was the host of Tianjin People’s Broadcasting Station “Tianjin Morning” from 1989 to 1992 and the host of Tianjin TV International Department “Tianjin, China” from 1992 to 2006. Other famous masterpieces include the first large-scale thriller story program “Truth” program of Tianjin TV Station, “TV Whispers” on the Science and Education Channel, and so on.
In order to better serve the new immigrants from China, Howard Li, CPA travels to China several times a year in order to learn more about China’s tax situation and better prepare Chinese assets and U.S. tax planning for Chinese new immigrants. He led his professional team and provided professional accounting services not only for Chinese in North America for many years, but also helps companies, families, and individuals in China and Taiwan who want to start a new business in the United States to provide excellent international tax law services as with the increase in new immigrants. He also provides professional Chinese assets and US tax planning services for new immigrants and new companies from China. He uses his expertise to tailor a legal tax saving strategy for every new immigrant.
Former Mayor of Monterey Park, California, USA. The most influential city for Chinese in America. The city of Li Wanruo, the first female Chinese mayor in the United States. The city of the nation’s first Chinese-American federation congresswoman Zhao Meixin. Stephan Lam was appointed Mayor of Monterey Park in 2018. In the same year, Monterey Park was also selected as the third most livable city in the United States by an authoritative American financial magazine. The most livable city in California. The second most suitable city for families to raise children in the United States.
Mayor Lam was an outstanding financial and legal professional before becoming the elected mayor. A successful business leader. An educator who loves cultural education.
Mayor Lam’s contributions to the people of Monterey Park include; fiscal budget, business development, urban planning, urban governance, investment promotion, urban beautification, national harmony, crisis management, increased police force, increased fire protection, improved public security, increased employee salaries, improved education, Etc. He has made a great contribution.
In 2018, he successfully attracted investment from Fortune 500 companies including Costco, Home Depot, In and out burger, Starbucks, Chick-fil-A, etc. to moved into Monterey Park. Mayor Lam successfully attracted three international chain Hotels to settle in Monterey Park. Make the city international!
The Sky Vision Holding Group, which is at the helm of Ms. Tiffany Xu, is the other sponsor of this event.
Sky Vision Holding is the pioneer and leader of the new generation of wealth management model in the United States. It is the first large-scale Chinese insurance wealth management institution operated by a group in the United States and the first Chinese brand in the American insurance wealth management industry.
For more than 20 years, Mutual Wealth has witnessed and led the start, development, and growth of the Chinese insurance and wealth management industry in the United States. It has always been the industry leader and has continued to improve management and development models, industry standards, and professional norms, and innovation. It set a benchmark for many practitioners and has become the strongest, largest, and most professional Chinese wealth management group in the United States.
Sky Vision Holding is committed to providing high-quality insurance wealth management services, group operation services, and actuarial services to Chinese merchants. The team has actuaries, accountants, and lawyers who hold professional licenses, as well as more than 3000 independent brokers, which is a huge service network. All professionals work together to deal with various issues at any time. Each department is responsible for the division of labor and cooperates closely to provide customers with the top insurance and wealth management products and the highest-end financial services in the United States!
The members of the association not only possess solid professional knowledge but are also fluent bilinguals in Chinese and English. Many members are also very active celebrities in multiple communities in the Los Angeles region. CACPAA can be described as a diverse professional elite team.
CACPAA has organized several professional lectures and seminars to provide free tax services to the community. The association has also established good relationships with governments, chambers of commerce and accountants associations in other regions, allowing the outside world to learn more about Southern California’s professional talents, and also helping members to get in touch with more international projects, opening up another window to the outside world for Southern Californians. With the concerted efforts of professionals in various fields, CACPAA is playing an integral role in the increasingly frequent international trades, and it will surely become an indispensable bridge for communication between people from all around the world and people of the Southern California region of the United States.
Founded in 2016, the Chinese University of Alumni Association Alliance of Southern California (CUAAASC) has 64 members of Chinese Universities to date and around 50,000 alumni. Most of our members are professionals in their perspective fields. The mission of CUAAASC is to provide a platform for alumni of member universities, to increase benefits for the alumni, to encourage activities in the communities, and to protect basic right for Chinese community. We also participate in southern California community activities and serve the Chinese-American community and scientific/professional community. We encourage you to join us to make our course better, and make our community better. We are together to make our voice stronger.
TsingHua University Alumni Association of Southern California was founded in 1970 with the purpose to promote the friendship between alumni and support the personal development and mutual exchange of alumni and the growth of Tsinghua University. Our founding president is Mr. Zhu Rujin, the father of Nobel Laureate in Physics, Mr. Zhu Diwen, and an alumnus of Southwest Associated University. Among the founding alumni are Mei Zubin, the eldest daughter of Principal Mei Yiqi, and a group of senior alumni. The Southern California Alumni Association is a rare Tsinghua Alumni Association that maintains a cross-strait relationship, including Beijing Tsinghua University and Hsinchu Tsinghua University. The alumni association has about a thousand registered alumni, and it is one of the most influential alumni associations in Southern California. 50 years of experience has created the growth of the Southern California Tsinghua Alumni Association. Adhering to the school motto of Tsinghua University: the spirit of continuous self-improvement and ethics, and extend the spirit of service of the alumni association to achieve inheritance!
Other Media Reports：
This article is a translated reprint of：美新社
On November 6th 2020, the Chinese American CPA Association and the US Small and Medium-sized Enterprise Administration (SBA) successfully held an online seminar on PPP loans.
CACPAA president Jeff Huang CPA, Vice Chairman Mary Lin , Secretary-General Chenny Huang, EA, and Founding Chairman Howard Li CPA, etc., welcome representatives from SBA Orange County and Inland Empire Branch, as well as over 100 members and community representatives, to attend the webinar.
CACPAA president Jeff Huang CPA first gave a welcoming speech and expressed the determination and dedication of the CACPAA, as a professional association that gathers more than 300 industry elites, to continue helping its members and the community by holding free lectures like this one.
Due to the impact of the pandemic, this lecture once again was conducted in the form of an online video conference to facilitate members and the public; the topic covers the programs of the US Administration of Small and Medium Enterprises, especially the Paycheck Protection Program (PPP) loan and Economic Injury Disaster Loan (EIDL) loan service, and the update of international tax laws.
He also pointed out that the CACPAA will regularly launch large-scale professional lectures, and hopes everyone will continue to attend. Professionals from fields of accounting, legal, investment and financial management, insurance, real estate, education and other industries are also welcome to join the association and develop the community together. “Your success is also the success of the association.” He added.
Introduciton of Small Business Adminstration (SBA), Paycheck Protection Program (PPP), and Economic Injury Disaster Loan (EIDL)
Godfrey Hinds, Economic Development Commissioner from the Orange County and Inland Empire Branch of the SBA introduced:
The branch services approximately 7 million people in Orange County, San Bernardino County, and Riverside Counties. In 2019, there were 1721 loans totaling $11 billion, ranking fifth among 68 branches in the United States.
The SBA is not the direct issuer of loans but acts as a guarantor for businesses, enterprises, and entrepreneurs to apply for loans and obtain loans from local partners and lending institutions.
In response to the Covid-19, Congress had passed CARES ACT to grant a variety of loans, the most common and well-known of which are:
Lender Relations Specialist Ron Galati (Ron Galati) and Outreach & Marketing Specialist Adam Johns (Adam Johns) from the SBA Orange County and Inland Empire Branch also introduced the PPP loan forgiveness conditions, Loan application guidelines, and how to reapply after the application for EIDL is rejected.
For more detail, please visit：
The members of the association not only possess solid professional knowledge but are also fluent bilinguals in Chinese and English. Many members are also very active celebrities in multiple communities in the Los Angeles region. CACPAA can be described as a diverse professional elite team.
CACPAA has organized several professional lectures and seminars to provide free tax services to the community. The association has also established good relationships with governments, chambers of commerce and accountants associations in other regions, allowing the outside world to learn more about Southern California’s professional talents, and also helping members to get in touch with more international projects, opening up another window to the outside world for Southern Californians. With the concerted efforts of professionals in various fields, CACPAA is playing an integral role in the increasingly frequent international trades, and it will surely become an indispensable bridge for communication between people from all around the world and people of the Southern California region of the United States.
The Chinese-American CPA Association (CACPAA)sponsored a CPE seminar on international tax law on August 22, 2020. The seminar was fully booked before it even started. The lecture was conducted by two experts on the following topics to help us serve our clients better.
Attorney Rufus Rhoades has been involved in all aspects of federal and state income tax matters, including working with the IRS and the California Franchise Tax Board on various issues, as well as tax planning on various transactions. Rufus Rhoades graduated from Stanford University Law School. Rufus Rhoades is the co-author of Rhoades & Langer’s “United States International Taxation and Tax Treaties”, which is published by Matthew Bender, New York State. It has 6 volumes and is revised 4 times a year. His law firm is in a leading position in this field and covers all aspects of U.S. foreign taxation, including taxes on Americans operating in the United States, U.S. taxes on non-resident aliens and foreign companies, U.S. companies operating overseas, and U.S. foreign Analysis and reproduction of employees, foreign exchange transactions, foreign tax credit rules, transfer pricing, foreign restructuring, and all U.S. income tax treaties.
Mr. Rhoades focused on the update of the Report of Foreign Bank and Financial Account (FBAR) under the Bank Secrecy Act, and explained in detail the tax key points of Global Intangible Low-Taxes Income (GILTI). For more information on International Tax Law, visit: https://rufustaxlaw.com/
Attorney Dennis Huang is the principal of Squire Patton Boggs. Dennis specializes in real estate planning and management, international taxation and wealth management, family office structure, corporate inheritance, company formation, and charitable trust planning. He works with clients to protect their current assets and achieve peace of mind through personalized estate plans. His business consists of both domestic and international planning, helping non-American families develop plans and structures to pass their wealth to the next generation. He also helps families navigating the U.S. probate court system and manage trust plans when a loved one dies or becomes disabled. For more information on this topic, visit https://www.squirepattonboggs.com/en
CACPAA provided 2 hours of CPE credits to all the audience attending this lecture. If you are interested in this type of lecture, please contact us for notification of future events!
The members of the association not only possess solid professional knowledge but are also fluent bilinguals in Chinese and English. Many members are also very active celebrities in multiple communities in the Los Angeles region. CACPAA can be described as a diverse professional elite team.
CACPAA has organized several professional lectures and seminars to provide free tax services to the community. The association has also established good relationships with governments, chambers of commerce and accountants associations in other regions, allowing the outside world to learn more about Southern California’s professional talents, and also helping members to get in touch with more international projects, opening up another window to the outside world for Southern Californians. With the concerted efforts of professionals in various fields, CACPAA is playing an integral role in the increasingly frequent international trades, and it will surely become an indispensable bridge for communication between people from all around the world and people of the Southern California region of the United States.
Encouraging younger generations to pursue careers in accounting is one of the missions of the Chinese American CPA Association (CACPAA). The Board of Directors has been preparing to launch an accounting scholarship program for the last couple of years. We believe that awarding meaningful scholarships to qualifying accounting students is one of the most effective ways to recognize the students’ academic achievements and to encourage a lasting focus on accounting. Through the scholarship program, we also hope to provide the accounting students with opportunities for networking, mentoring, and career training.
After two years of preparation and fundraising, we are thrilled to announce that the CACPAA has established its sister entity, Chinese American CPA Foundation, which is a 501c(3) non-profit organization approved by the Internal Revenue Service. All charitable contributions made to the 501c(3) Foundation are tax deductible. We would like to thank all of our supporters for their efforts and contributions, especially Sky-Vision Insurance Agency for its generous donation, which have made our scholarship program possible. The Scholarship Committee Chair and Vice Chair, Charles Kiu CPA and Jeff Huang CPA, contacted the accounting departments at many local colleges and universities and disseminated the information about our scholarship program. We received more than 20 scholarship applications in a short period of time and performed thorough reviews of the applicants. A total of ten scholarships will be awarded to 10 qualifying accounting students during CACPAA’s annual Gala event on June 15, 2019. The scholarship recipients are all undergraduate accounting students at accredited universities with excellent academic records, leadership experience, and history of community service. We wish each one of them great success in pursuing the accounting profession and hope that they will join our big CACPAA family soon.
CACPAA was established in 2011 by CPAs of Chinese descent who originally came from China, Taiwan, Hong Kong, Macao, and other Asian countries or regions. In addition to accounting, CACPAA has attracted members from many fields, including finance, law, real estate, and academia. For CACPAA membership information, please email CACPAA@GMAIL.com or call (626) 734-6968.
This article is a translated reprint of： Chinese News USA
The Chinese American CPA Association (hereinafter as CACPAA) held a webinar with respected experts from different fields to discuss some the hottest topics under Covid-19 Epidemic on Saturday, July 25, 4:00-6:00 PM, Los Angeles time, that is, Sunday, July 26, 7:00-9:00 AM, China time. Cloud lectures attracted more than 400 listeners to participate online.
Under the circumstances that the current epidemic situation prolongs, CACPAA responded with great flexibility, inviting experts and scholars from various industries to give you rich and wonderful speeches on many topics that everyone cares about: such as how companies can survive the market downturn; How do international students protect themselves in the predicament of the epidemic; how to prevent and treat Covid-19; the problems encountered by companies in applying for PPP loans; Whether the companies are the most affected by the rising tax rate; and tax issues concerning cash gifts for new and old immigrants studying abroad, etc.
Association president Jeff Huang CPA, Vice president Mary Lin, Secretary Chen Huang, welcomed listeners to come with questions, provided live Q&A session, and also gave out cash prizes to several audiences who successfully answer the bonus questions.
Jeff Huang, the newly-elected president of CACPAA, said that as a professional association that has gathered together a large crowd of industry elites, it hopes to serve the community and benefit the society by holding free lectures like this one.
This lecture took the form of an online video conference to facilitate public participation under the pandenmic. The topics of the lectures are what everyone is most concerned about at this moment, explained by industry experts.
President Jeff Huang also mentioned that the Chinese American CPA Association will regularly launch large-scale professional lectures, and he hopes everyone will continue to give interest and participate in them. Any accountants, lawyers, investment and financial professionals, insurance, real estate, education, and other industries elites are also welcome to join the association to develop the Association and community together.
This event was hosted by Ms. Diane Chen, a director of the Chinese American CPA Association and a top member/life member of the Million Dollar Round Table Association (MDRT).
Studying in the U.S., Gift, Cash Tax Issues
CPA and founding President of the Chinese American CPA Association Howard Li kicked off the event with his lecture: “Studying in the U.S., Gift, Cash Tax Issues“
CPA howard Li started his analysis by looking at the definition of “US tax resident” and detailing the 183 days and 3 years rule. In the case of F-1 VISA student status, and under the premise of conversion, the number of days in the first five calendar years will not be counted, and the number of days in the sixth year will be counted as 183 days.。
He reminded the audience that even international students, who are not “US tax residents”, still need to file tax returns on their income in the United States. At the same time, foreigners in the United States can purchase fixed assets in the U.S., but there are many precautions and tax obligations that cannot be ignored.
Vice-president of CACPAA Melody Shi gave a lecture on the topic of “Pandemic Subsidies, PPP Use, and Application for Exemption“
CPA Melody Shi clearly explained the basic situation of the compensation plan (PPP), and focused on the analysis of the time exemption clause and the exemption clause of the employment clause.
She also explained the details of the exemption application in a simple but profound way, from the classification of the application form to the matters needing attention in the form; and from the verification of loan terms by the borrower to filling out employee worksheet, and so on.
The lecture topic of CACPAA Vice-President Paul Niu was “Rising Tax Rate and Considerations for Sales Tax“
CPA Paul Niu pointed out that restaurants are struggling to operate under the epidemic, and some retailers and individuals have also added take-out services. Whether restaurants should colect sales tax on take-out orders depends first on whether the transaction meets the two 80% principles.
At the same time, even under the two 80% principles, there are still some situations where sales tax may not be collected.
Founder and Managing Partner of 1955 Capital Andrew Chung gave an English lecture on the topic of “How Do Business Owners Adapt to the Covid-19 Pandemic“
Andrew Chung pointed out that as the epidemic continues to spread and when businesses can re-open remains unclear, companies need to first consider theri survival, and then development.
Therefore, in order to survive, it is inevitable to increase revenue and reduce expenditure. On one hand, it is necessary to reduce expenditures and postpone any original exoansion plan. On the other hand, it is also necessary to develop business as much as possible by increasing income, and strive to obtain government subsidies, loans, or new investments. Of course, you also need to prepare the necessary backup exit plans.
Former Monterey Park Mayor and City Councilman Stephan Lam, who is also the chairman of Lambs Education, has many years of experience in the education industry. His lecture topic is “How Do International Students Seek Medical Treatment and Maintain Legal Status Under the Epidemic”.
Counsilman Stephan Lam identified that guardians of underage international students are even more important duiring the epidemic. Underage international students’ medical treatment, isolation or hospitalization after infection, etc., must be accompanied and held responsible by their guardians. To avoid deportation, underage international students must also stay away from illegal behaviors such as smoking and drinking.
As the decision to re-open campuses is pending. International students may not be able to register for “online classes” to maintain their identity. International students need to maintain full-time student status and good grades, and may need to transfer to maintain their status。
Dr. Xiuyi Zhi, chairman of the Chinese Thoracic Surgery Lung Cancer Alliance and director of the Lung Cancer Diagnosis and Treatment Center of Capital Medical University, connected with the audience acrossed the ocean. The topic of his speech was “Prevention Measures and Treatment of Covid-19”
Dr. Zhi Xiuyi shared effective preventive measures against Covid-19: the focus is on isolation through reducing contact with others; wearing masks; washing hands, ventilation, disinfection, etc. He also shared the basis and key points of early diagnosis, as well as the experience of treatment methods.
He also emphasized that there may be many small lung nodules in the chest CT examination, but don’t panic, because most of them are benign. However, you need to pay attention to the possibility of pathological changes. Regular review is needed as precautions against lung cancer and other diseases.
The members of the association not only possess solid professional knowledge but are also fluent bilinguals in Chinese and English. Many members are also very active celebrities in multiple communities in the Los Angeles region. CACPAA can be described as a diverse professional elite team.
CACPAA has organized several professional lectures and seminars to provide free tax services to the community. The association has also established good relationships with governments, chambers of commerce and accountants associations in other regions, allowing the outside world to learn more about Southern California’s professional talents, and also helping members to get in touch with more international projects, opening up another window to the outside world for Southern Californians. With the concerted efforts of professionals in various fields, CACPAA is playing an integral role in the increasingly frequent international trades, and it will surely become an indispensable bridge for communication between people from all around the world and people of the Southern California region of the United States.
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This article is a translated reprint of：Sing Tao Daily
News from Los Angeles
The Chinese American CPA Association (hereinafter CACPAA) successfully held the first online annual meeting on June 27, 2020 and held a re-election ceremony, attracting nearly 200 spectators to participate in the event online.
At the start of the annual meeting, CPA Howard Li, the founding president of the CACPAA gave a speech, thanking Cynthia Lau, the President of CACPAA from 2019 to 2020, for her selfless dedication and dedication to the association over the past year, and looking forward to the outstanding professional accountant Jeff Huang who has served the association for nine years to lead everyone forward; the current president CPA Cynthia Lau also reported to everyone the various activities and contributions she had made to the society and association members during her tenure; Accountant Jing Qiu spoke on behalf of the previous ex-presidents, thanked all the guests present and gave high commendation to the new president CPA Jeff Huang.
The California State Treasurer Fiona Ma, CPA was invited to this year’s annual meeting to witness the appointment of the new leadership team. Fiona Ma shared with everyone the various new practices of the California government in dealing with the epidemic. Other officials who also came to congratulate the newly-elected were: former California senator and Republican senator leader Bob Huff, Los Angeles County Chairman Kathryn Barger, and San Gabriel City Councillor Chin Ho Liao all gave speeches congratulating the landing of the new president of the association and the new leadership team.
CPA Jeff Huang, the new president, thanked the previous colleagues of the association for their efforts, pointed out that the goal of the tenth session is to achieve win-win, and looked forward to how the association can better serve everyone in the current severe epidemic situation, and hope that everyone will work together , Grow together, give back to society, and benefit the world. I believe that under the leadership of the president Jeff Huang, CPA, the Chinese American CPA Association will reach another peak!
The annual meeting held a lottery with a total value of more than $3000: Ex-President Cynthia Lau donated KN95 masks that worth $800, the new President Jeff Huang donated $600 in cash, a 27-inch color TV was donated by director Victor Wong, and the rest of each director donated $100 in cash. Another big prize is that lucky viewers can get free help from professional CPAs in the association to apply for government subsidies.
CACPAA provides the strongest professional platform for professionals from all different fields. Ethnic Chinese CPAs who were originally from many different regions such as the United States, China, Taiwan, Hong Kong, Southeast Asia, etc. gathered in the CACPAA. It has also attracted many elites from the financial, real estate, and education sectors. The members of the association not only possess solid professional knowledge but are also fluent bilinguals in Chinese and English. Many members are also very active celebrities in multiple communities in the Los Angeles region. CACPAA can be described as a diverse professional elite team.
Elites from all walks of life in the CACPAA share their experience and examples with everyone without hesitation. We strive to help the Chinese community understand the latest changes in laws and tax laws, and we hope to use our professional knowledge to help new immigrants quickly integrate into the new life in the United States with east For professionals who are interested in joining CACPAA, please send an email to CACPAA@GMAIL.COM.
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The love of professionals does not fall behind-The China-American Accountants Association donated materials to major hospitals to support frontline medical staff!
As the epidemic in the United States continues to heat up and the number of infections continues to increase, Los Angeles has become the second most infected city after New York. The PPE-Personal Protective Equipment in major hospitals is in serious emergency. After the professional members of the China-America Association of Accountants have done their best, they spared no time during the busy tax season and actively invested in donations and donations, with love and practical actions. Give back to the society. In just a few days, it has raised $18,300, and has purchased and donated 20,000 medical masks, 20,000 gloves, and 1,000 goggles.
During the period from April 1st to April 8th, the members and directors of the China-American Accountants Association actively sought and contacted hospitals in urgent need of PPE. At the same time, in the face of rising prices and uneven quality of sources, they were cautiously seeking and comparing supplies. Quotient. Mr. David Lin, the director of the association, did his best to find genuine masks for the association. Also involved in the donation work: Chairman Liu Xin, Vice Chairman Chen Lin, Vice Chairman Sang Jing, Director Lin Marie, Lawyer Li Bin, Director David Lin, Chief Financial Officer Niu Peiyan, Former Chairman Qiu Jing, Director Victor Wang, Director Joshua Wang and Claudia Lin. Regardless of the severity of the epidemic, the directors personally delivered these valuable medical supplies to: Pomona Valley Hospital, Adventist Health White Memorial, Long Beach Memorial Hospital, Garfield Hospital, Methodist Hospital of Arcadia, UCLA Health, Beverly Hospital, and the shelter hospital LA County Department of Housing for Health. The behavior and love of sending charcoal in the snow made these medical staff who are fighting the epidemic on the front line very moved, and made the China-American Accountants Association feel proud to participate in the fight against the epidemic.
While helping major hospitals, the Sino-American Association of Accountants also does not forget to help its members. Under the advocacy of Accountant Huang Jiefeng and Accountant Qiu Jing/former president, the founding president Accountant Li Hao specially arranged a batch of masks to be distributed to members of the association for free. In addition, the former president Qiu Jing also donated 200 masks. At the same time, she also arranged a batch of 5,000 masks. She is arranging the way to the United States, which will enable more hospitals to receive material support. The Sino-American Accountants Association is both external and internal, professional and loving coexist.
Thanks to the members of the association for their generous donations. They are (in no particular order):
LA County Hospitals
Location: Pomona Valley Hospital, Adventist Health White Memorial, Long Beach Memorial Hospital…
Experts face to face, the prescription should change<br>-2019 Expert Expo debuts
[Good news] The largest and top-notch free expert expo in Southern California, sponsored by the China-American Accountants Association and co-organized by Fanyu Group, is about to debut. Expert Expo Time: Saturday, June 15, 2019, 10:30am – 4:30pm, Location: Hilton Hotel San Gabriel. The conference specially invited Miss California and Miss New York Andrea Shen as the host of this expert expo. Grand prizes of more than 100 yuan are waiting for you.
This expert expo brings together ten professional fields, and invites the industry’s top and most powerful experts to meet you face to face. Usually, you need to pay to invite these experts to give lectures, but today they are willing to come and share their valuable professional experience for our lucky audience for free. This time the conference invited nearly 30 experts in different fields, including: accountants, lawyers, IPO consulting, brand value creation and effect, risk management, asset management and financial planners, commercial insurance experts, real estate investment And management experts, education experts, loan experts.
Topics covered by 30 experts include [How to resist the impact of the Sino-US trade war from an investment perspective] [Does your company want to be listed in the US] [How to build your brand value and effect in the US market] [How to avoid Commercial fraud?] [Interpretation of President Trump’s new immigration plan to “select the best” to issue green cards] [U.S. company establishment, one-person visa, family to the United States] [Latest Labor Law-Sexual Harassment Training] [2019 Latest Labor Law Knowledge] [How to successfully apply Entering a prestigious university in the United States] [Listen to expert analysis of fraud cases in American universities] [The significant impact of the new SAT “adversity score” on Chinese applicants in 2020]
More topics include [Offensive and defensive strategies for retirement planning-Annuities and retirement financial planning] [Beyond Wealth, Linking to the Future-The Role and Development of Family Offices] [Southern California Real Estate Private Equity Investment Opportunities] [Inheritance Planning] [Why is Now a Good Time to Invest in Commercial Real Estate] [Sino-US Trade War-How about small and medium business owners Maintain net profit after tax] [Tax advantages of American companies] [Do you need to pay sales tax for takeaway food] [Tax issues on rental housing] [Does the 401K provincial tax really work?] [How to quickly save time without checking income loans! ] And so on, there are only things you can’t think of, and no areas that we can’t cover.
The American Association of Accountants provides a professional platform with the strongest strength for professionals from all walks of life. It has gathered Chinese accountants from different regions such as the United States, China, Taiwan, Hong Kong, Southeast Asia, etc., and has also attracted many elites from the financial, real estate, and education sectors. The members of the association are not only strong in professional knowledge, but also fluent in both Chinese and English. Many members are also very active celebrities in multiple communities. The Sino-American Accountants Association can be described as a diversified and professional elite team.
Elites from all walks of life in the China-America Association of Accountants use their experience and examples to share with everyone without hesitation. To help the Chinese community understand the latest changes in laws and tax laws, and hope to use our expertise to help new immigrants integrate into the new life in the United States better and faster. If you are interested in joining the Professionals of the China-American Association of Accountants, please send an email to cacpaa@gmail.com , or call: (626)734-6968 for relevant information.
Hilton Los Angeles/San Gabriel
Location: 225 W Valley Blvd., San Gabriel, CA 91776
Date: 06/15/2019 (Saturday)
Time: 10:30 AM-04:30PM
