California AB-150 Provides SALT Cap Work-Around

RogerRossmeisl

On 7/16/2021, Governor Newsom signed into law AB-150, which provides a means by which certain pass-through entities (Qualified Entities) can make an election to pay California income tax (at the entity-level) on behalf of their owners, for which their consent must be given.

California 1099-NEC Filing Requirements

RogerRossmeisl

The post California 1099-NEC Filing Requirements appeared first on Roger Rossmeisl, CPA. In IRS Tax Tip 2020-80, the IRS explained new Form 1099-NEC, Nonemployee Compensation for business taxpayers who pay or receive nonemployee compensation.

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Update on California Classic Car Smog Exemption Bill AB 220

RogerRossmeisl

As posted to Mike Frankovich’s YouTube Channel on 4/15/2021 (Run time: 8 min, 47 sec) If you’re like me, you have trouble understanding why California continues to make it so difficult to engage is what is one of the most quintessential of California pastimes.

California Property Tax Updates

LSLCPAs

Before we get too far into the year, we wanted to remind you of two significant changes that became effective in 2021 for California homeowners. California Property Tax Updates First Change For owners. The post California Property Tax Updates appeared first on LSL CPAs.

California Main Street Small Business Tax Credit II Begins 11/1/21

RogerRossmeisl

California Assembly Bill No. 50 (AB-50) established the California Main Street Small Business Tax Credit II, which will provide COVID-19 financial relief to qualified small business employers.

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Update- California PPP Tax Conformity

CapataCPA

California’s governor and legislation were ready to legislatively conform to federal PPP. The post Update- California PPP Tax Conformity appeared first on CPA firm in Orange County, CA | CAPATA.

California Small Business Hiring Credit FAQs

RogerRossmeisl

The California Legislature passed, and the governor signed, Senate Bill 1447 (click here for FTB Bill Analysis) into law creating a new small business hiring credit (SBHC) for small businesses impacted by economic disturbances in 2020.

California Cops Enlist Drones For Lockdown Enforcement

PYMNTS

A police department in California is going to use drones equipped with loudspeakers to help enforce the state lockdown orders imposed due to the coronavirus, according to a report by the Financial Times. Coronavirus California Drones News What's Hot

Revisiting California’s Worker Classification Law AB 5

RogerRossmeisl

This means that many workers previously classified as independent contractors are now employees under California law and you must withhold California income and payroll taxes, and meet California’s minimum wage and overtime requirements.

California Proposition 19: Tax Changes

KROST

California Proposition 19 passed with just over 51% of the vote in the general election on November 3rd and is expected to become law. April 1, 2021 – For transferring a property tax assessment to a new location within the state of California.

California Lets Aurora Operate Driverless Cars

PYMNTS

Self-driving vehicle company Aurora has been approved by California regulators to allow passengers rides in its fleet of driverless vehicles, according to reports. The company did not specify when it would allow California passengers in its vehicles.

California Goes Back Under Lockdown

PYMNTS

For the fifth consecutive day, Florida reported more than 12,000 new coronavirus infections, and in California, Gov. The resurgence of the virus in California has taken its toll on the Latino community. Coronavirus bars California closures COVID-19 News Restaurants Retail What's Hot

California Passes Proposition 19

CapataCPA

California Passes Proposition 19Proposition 19 was recently passed in California and will affect properties that you want to pass down to your children. The post California Passes Proposition 19 appeared first on CPA firm in Orange County, CA | CAPATA.

Uber Lets California Drivers Set Fees

PYMNTS

In a move that will give more flexibility to its drivers, less predictability to passengers and potential legal protection for its parent company, Uber now is letting California drivers set their own rates — within limits. Ridesharing California News Uber What's Hot

Uber, Lyft Ready Shutdown Friday In California

PYMNTS

are ready to suspend their ride-hailing services in California on Thursday (Aug. In a blog post , Lyft said its rideshare operations in California would be suspended at 11:59 a.m. Ridesharing California Lyft News Uber What's Hot

Delays Continue – The IRS, the California Franchise Tax Board, and Tax Software

KROST

Some of the complications that currently impact our service and may require a filing extension include: Delays in issuing guidance from the IRS and the California Franchise Tax Board on a wide range of issues from: a.

Small Business Relief From State of California

LSLCPAs

More relief for small businesses – this time from the State of California! The post Small Business Relief From State of California appeared first on LSL CPAs.

Grubhub Changes Tipping In California, Angering Drivers

PYMNTS

In November, California voters, by a margin of about 58 percent to 42, adopted Proposition 22, which overturned a fairly young state law that made it harder for companies to deploy gig workers without classifying them as “employees” and providing the benefits employees receive.

Los Angeles/Orange County, California Tax Service Help

MyIRSRelief

Tax Resolution Services. Los Angeles-Long Beach-Santa Ana Metropolitan SoCal area. Local tax helpline 877-78-TAXES [877-788-2937]. Continue reading ›. Tax Resolution Services

California Small Business COVID-19 Relief Grant Program

KROST

As part of the assistance package that was announced by Governor Newsom in September 2020, the State of California is providing $500 million in grants to small businesses that are impacted by COVID-19. The post California Small Business COVID-19 Relief Grant Program appeared first on KROST.

California Judge: Uber, Lyft Can’t Call Drivers Contractors

PYMNTS

A California judge has passed an injunction to force Uber and Lyft to stop classifying their workers as independent contractors rather than employees, CNBC reported. Legal California gig economy Gig Workers legal Lyft News Uber What's Hot

Proposed Tax Relief Bills for California

CapataCPA

Proposed Tax Relief Bills for California California’s Governor is expected to sign several tax-related and stimulus bills that the California General Assembly sent to him. The post Proposed Tax Relief Bills for California appeared first on CPA firm in Orange County, CA | CAPATA.

The Real Estate Tax Implications of California Prop 19

CTP

California Prop 19, also known as “The Home Protection for Seniors, Severely Disabled, Families, and Victims of Wildfire or Natural Disasters Act,” went into effect on February 16, 2021. The post The Real Estate Tax Implications of California Prop 19 appeared first on certifiedtaxcoach.

Report: Facebook To Move UK Users To California Privacy Agreement

PYMNTS

users into new agreements with its corporate headquarters in California, effectively circumventing the European Union’s strict privacy laws, according to an exclusive report by the Reuters news service. Facebook California News privacy Security Social Media U.K.

No Deduction in California for Expenditures Paid with Forgiven PPP Funds

RogerRossmeisl

With the prospect that ordinarily tax deductible business expenses will still be deductible if they were paid for with forgiven PPP loan funds contained in the Coronavirus Response and Relief Supplemental Appropriations Act, 2021, attention turns to the California treatment of same.

Bitcoin Daily: China Expands Digital Cash Pilot; California Bill Defining Digital Assets Moves Forward

PYMNTS

The move comes as numerous places around the world look into digital currencies for official business, including the state of California, as it moves ahead with a digital asset bill, Assembly Bill 2150.

California Main Street Small Business Tax Credit II

KROST

Employers that had fewer than 500 employees on December 31, 2020, subject to California withholding laws, would be considered qualified small businesses. The post California Main Street Small Business Tax Credit II appeared first on KROST.

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COVID Pushes California Pizza Kitchen Into Bankruptcy

PYMNTS

California Pizza Kitchen (CPK) is the latest big restaurant chain to fall on hard times in the wake of the coronavirus pandemic. The company opened its first restaurant in 1985 in Beverly Hills, with a menu offering California-style pizza and cuisine.

Uber Weighs Backup Plan If Controversial California Labor Law Stands

PYMNTS

Uber is weighing contingency plans that could dramatically shrink its California operations should a ballot campaign aimed at revoking a controversial state labor law fall short on Election Day.

Proposed California Bill Offers Banking Support For Cannabis Businesses

PYMNTS

A proposed new California bill, AB 1525 , would give banking institutions and accountants the green light to work with cannabis businesses. Alvarez, California Department of Business Oversight commissioner, Bloomberg reported.

California’s Proposition 24 Vote Could Boost Online Privacy Bills In New York, Washington

PYMNTS

A ballot measure passed by a sizable majority of California voters to ramp up protections for online privacy could pave the way for similar measures across the country. Legal California legal Legislation News privacy Security What's Hot

JD Sports Purchases California-Based Shoe Palace

PYMNTS

California-based Shoe Palace was started in 1993 by the Mersho family. More than 50 percent of the retail locations are in California, but the retailer has an “established retail presence” in Hawaii, New Mexico, Colorado, Florida, Arizona, Nevada and Texas. Genesis Holdings Inc.,

California Uber, Lyft Drivers File Lawsuit Over Prop 22

PYMNTS

G ig workers in California who drive for Uber, Lyft and other rideshare and delivery platforms have filed a lawsuit in the state’s Supreme Court seeking to overturn Proposition 22, the Associated Press reported on Wednesday (Jan.

California Tells Uber And Lyft Their Drivers Are Employees

PYMNTS

The California agency that regulates ride-hailing companies Uber and Lyft said their drivers are considered employees under the state’s new gig work law, the latest development in the fight over drivers’ status, Reuters reported. Ridesharing California Gig Workers Lyft News Uber What's Hot

California Seeks Court Order To Make Uber, Lyft Drivers Employees

PYMNTS

In what could be the start of a protracted court fight, attorneys for the state of California plan to ask a judge to order Uber and Lyft to classify their ride-hailing drivers as employees rather than contractors, Reuters reported. 3, California voters will have their say.

California’s Partial PPP Conformity Bill

CapataCPA

California’s Partial PPP Conformity Bill On April 29, 2021, Governor Newsom signed into law Assembly Bill No. The post California’s Partial PPP Conformity Bill appeared first on CPA firm in Orange County, CA | CAPATA.

California Expects IPO Tax Windfall

PYMNTS

California is gearing up to get a tax windfall from all the initial public offerings of California companies slated for this year. When Facebook went public, The Wall Street Journal reported California got $1.3 If California gets billions in tax revenue from the IPOs of tech companies, the governor could face pressure from liberal legislators and interest groups to increase spending.

California Won’t Open Restaurants Right Now After All

PYMNTS

California Gov. Instead, he told a news conference that the state will issue new guidance for California food and dining establishments on Thursday (May 7). Retail California Gavin Newsom governor News regulations reopening Restaurants What's Hot

Uber CEO Vows To Shutter Ride-Hailing Service Temporarily In California

PYMNTS

is likely to shut down temporarily in California. “If If the court doesn’t reconsider, then in California, it’s hard to believe we’ll be able to switch our model to full-time employment quickly,” CEO Dara Khosrowshahi told MSNBC Wednesday (Aug 12).

Consumers Will Pay Increased Fees To Offset California Gig Worker Benefits

PYMNTS

Gig workers for Uber and others in California will start getting benefits, but consumers will pay the price in additional fees, the Financial Times (FT) reported Monday (Dec. Gig Economy California doordash gig economy Gig Workers Instacart Lyft News Uber What's Hot

Nuro Gets California Permit For Autonomous Deliveries

PYMNTS

Nuro has received the first-ever autonomous vehicle deployment permit from the state of California, according to a press release. Nuro has already run tests of its R2 on California roads, and the permit will now let the company partner with new and existing retailers to operate deliveries.

Uber, Lyft Lose AB5 Appeal In California

PYMNTS

Silicon Valley rideshare giants Uber and Lyft must abide by a California Court of Appeals’ decision that they can no longer classify their drivers as independent contractors, pending a ballot measure giving voters a say on election day (Nov.

California Passes Workaround to the Federal Limit on State Tax Deductions

KROST

On July 16, 2021, the California Governor signed Assembly Bill 150 (AB150) into law. The electing owners are then granted a credit against their California personal income tax for the full amount of the tax paid by the entity on their allocable share of California taxable income.