Vicki L Mulak
Owner - American Financial and Tax
Vicki is an Enrolled Agent and Certified Financial Planner (CFP) and owner of American Financial and Tax, a tax preparation, planning and representation firm, which was founded in Tustin, California in 1985, when Vicki became both a resident and a business owner.

Vicki is a well-known presenter on federal and California tax law with audiences at continuing education events hosted by various practitioner organizations. She is also an author of numerous articles that have appeared in various practitioner journals.

In addition to her private practice, Vicki has served on two of the three California state tax agency advisory boards: The California Franchise Tax Board Advisory Board since 2010 - 2017 and the Employment Development Department's Small Business Employer's Advisory Committee since 1997. She has been honored with numerous awards for distinguished service in legislative advocacy and educational goals from the Enrolled Agent Associations, NAEA and CSEA.

She resides with her husband, George, in Tustin.
Upcoming Webinar
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Recorded Webinar
Death and Taxes: Decedent Tax Attributes, and Estate vs. Trust Fiduciary Returns
This webinar will help you to increase competency in preparation of Final 1040 returns and fiduciary returns
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Managing Your Client's Business Entity Dissolution
Liquidation and the ultimate dissolution of a client's business entity can be a significant task for any practitioner. It could be precipitated by your client profitably selling the assets of the entity or the entity's unit of ownership or involve an entity with a failed activity, where the client has lost interest and moved on to other business opportunities with less than stellar cooperation as the practitioner handles the dissolution details. This presentation includes the tools necessary to assist with either scenario for C Corporations, S Corporations, LLCs filing as partnerships and LLCs filing as corporations.
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C Corporations for Dummies Manage Taxation and Dividends for C Corporations
Different taxation rules apply to C and S corporations. The tax liability of a C corporation is separate from its owners, and thus a C corp is subject to double tax: The corporation's profit is taxed when earned and taxed again when distributed to shareholders as dividends. According to the IRS, the corporation does not get a tax deduction when it distributes dividends to shareholders and shareholders cannot deduct any loss of the corporation. This is primarily how a C corp differs from an S corporation; an S corp can avoid c by passing corporate income, losses, deductions and credits to shareholders who then report the flow-through on their personal tax returns, under IRS tax rules.
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S Corporation Stock Basis
This session will concentrate on the transfer of flow-through items reported on the S corporation K-1 to shareholder returns, with an emphasis on the calculation of S corporation stock basis and loan basis. Included will be information on the impact of distributions and loan repayments on basis, the election to reverse the ordering rules and the differences between the stock basis ordering rules and the AAA ordering rules.
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