MyIRSRelief

OCTOBER 28, 2022

In case you were not aware of what the FTB is, it is the California board that is responsible for collecting all of the personal income tax and business franchise taxes that are assessed every year for people and companies in California. The board uses several methods to collect owed taxes. Yee (State Controller). Final Thoughts.

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RogerRossmeisl

SEPTEMBER 26, 2021

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. The post California Main Street Small Business Tax Credit II Begins 11/1/21 appeared first on Roger Rossmeisl, CPA.

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CPA Practice

AUGUST 9, 2023

Military retirees residing in California potentially pay more taxes on their military retirement pay than they would in other states. That’s because California is the only U.S. But proposed legislation would exempt military retirement income from California state income tax — at least for the next ten years.

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Cherry Bekaert

SEPTEMBER 26, 2023

On September 14, 2023, California’s Legislature has recently approved a landmark climate disclosure bill, Senate Bill 253, which is expected to have global impacts on corporate climate accountability. Contact Us The post California Adopts New Rule on Climate Disclosures for Corporations appeared first on Cherry Bekaert.

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RogerRossmeisl

JANUARY 14, 2021

The post California 1099-NEC Filing Requirements appeared first on Roger Rossmeisl, CPA. Nonemployee compensation may be subject to backup withholding if a payee has not provided a taxpayer identification number to the payer or the IRS notifies the payer that the TIN provided was incorrect PDF.

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KROST

SEPTEMBER 18, 2023

Prior to January 1, 2023, California residents were able to avoid California taxation for any income earned by the ING trust that was not distributed to them. The post California Changes Tax Legislation for Incomplete Non-Grantor Trusts appeared first on KROST. The Read the full article.

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CPA Practice

MAY 8, 2023

That idea is supported by migration data, recently released by the IRS, showing that taxpayers are leaving notoriously high-tax states like California and New York and choosing to live instead in low-tax states. New York and California gained some residents, but far fewer than the numbers lost. Census Bureau.

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RogerRossmeisl

NOVEMBER 17, 2020

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. The post California Small Business Hiring Credit FAQs appeared first on Roger Rossmeisl, CPA.

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LSLCPAs

AUGUST 23, 2023

It’s commonly known that Federal and California tax law prohibits California from taxing a nonresident’s income from retirement plan distributions, even though contributions to these plans were made while living in California.

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MyIRSRelief

JUNE 1, 2022

You need someone who is well versed in tax resolution and someone who has a better understanding about tax services in Norwalk, California to allow you or your company to find effective tax resolution and get necessary assistance needed. Norwalk is a suburb city in Los Angeles, California. Call us today at 562-204-6700.

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CPA Practice

AUGUST 18, 2023

LOS ANGELES — Hurricane Hilary is rapidly intensifying off Mexico’s west coast, with forecasters warning that the storm will likely hit Southern California by late Sunday, bringing with it a deluge of rain, whipping winds and dangerous surf. That would lessen the chances of the winds making it into Southern California,” Rhome said.

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LSLCPAs

JULY 17, 2023

The California Attorney General monitors charities to ensure that their assets are used for charitable purposes only. This article discusses some of the details to note when filing California Registry of Charitable Trusts Annual Registration Renewal Form RRF-1, which all California charities must file in addition.

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CPA Practice

OCTOBER 16, 2023

As Kiplinger reported, the new postponement means that many California taxpayers and businesses now have until Nov. Another tax deadline extension for California The new tax deadline applies to impacted individuals in 55 of California’s 58 counties. 16, 2023, to file their 2022 federal income tax returns and pay any tax due.

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LSLCPAs

FEBRUARY 9, 2022

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.

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CPA Practice

OCTOBER 10, 2023

With the signing of SB 478, California now has the most effective piece of legislation in the nation to tackle this problem. The price Californians see will be the price they pay,” California Atty. Rob Bonta, who has backed the bill since it was introduced earlier this year , said in a statement.

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RogerRossmeisl

DECEMBER 24, 2020

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. This is Blog Post #943).

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Cherry Bekaert

JUNE 2, 2023

Two new tax credits were enacted in California, which begin in tax year 2023 and extend through 2027. Cannabis businesses generally cannot deduct business expenses for federal income tax purposes, so to alleviate the tax burden and offset operating costs, California is providing a measure of tax relief for the industry.

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CPA Practice

FEBRUARY 6, 2023

By Samantha Gowen, Los Angeles Daily News (TNS) Tax filers in California who got a Middle Class Tax Refund and a corresponding 1099 form should wait to file their federal tax returns, the IRS said last Friday. California has sent out 6.4 The IRS, now two weeks into tax season, issued a statement Feb.

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CPA Practice

SEPTEMBER 21, 2023

Top 20 accounting firm Eide Bailly is growing its presence in Southern California by combining with Torrance, CA-based Raimondo Pettit Group. Eight of those 43 offices are in California. The merger, which will bring six Raimondo Pettit partners and 55 staff into Eide Bailly, is expected to happen on Oct.

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MyIRSRelief

JULY 1, 2022

You need an expert in tax preparation services in Santa Fe Springs in California to enable your business to find the appropriate tax resolution and get help. We are a firm with experts in auditing and resolving IRS issues, we can help you find solutions to your tax problems. Call us today at 562-204-6700.

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Accounting Today

OCTOBER 31, 2023

The Golden State is poised to fall well short of its budget forecasts as the recent stock market slump erodes the state's tax takings.

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Withum

JANUARY 12, 2023

For more information about the IRS’ relief provisions for California taxpayers affected by this winter’s storms, please see IRS CA-2023-02 and IRS Alert IR-2023-03. The post IRS Announces Tax Relief for California Taxpayers Affected by Winter Storms appeared first on Withum. Contact Us. Let’s Chat.

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Patriot Software

JANUARY 16, 2023

California was the first state to create a paid family leave (PFL) program in 2002 (benefits became available in 2004). If you’re an employer in California, you must withhold PFL contributions from employees’ wages while running payroll. Since then, 11 other states have created paid family leave programs (plus Washington D.C.).

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MyIRSRelief

OCTOBER 3, 2022

The minimum combined 2022 sales tax rate for Los Angeles County, California is 10.25%. The California state sales tax rate is currently 6%. According to the IRS, in 2019, Los Angeles county residents had 4,806,030 total 1040 tax returns. This is the total of state and county sales tax rates.

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KROST

APRIL 19, 2023

The California Department of Tax and Fee Administration (CDTFA) announced new tax rates, tax codes, and expiration dates that took effect on April 1, 2023. In the November election of 2022, California voters approved the latest district tax changes, which are now applied to specific cities and counties in California.

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CapataCPA

MARCH 24, 2021

Update- California PPP Tax Conformity Although it is no secret that California has yet to release information on whether or not it will partially conform state tax code to the current federal tax rules regarding forgiven Paycheck Protection Program (PPP) loans, CalCPA has shared why the delay is taking place.

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CPA Practice

FEBRUARY 10, 2023

By Jon Healey, Los Angeles Times (TNS) Accountants across California have been grumbling for weeks about the IRS’s refusal to clarify a key issue for state taxpayers: whether they’ll have to pay federal taxes on the state’s Middle Class Tax Refund. Instead, California billed the money as relief from the state’s high gasoline prices.

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KROST

JANUARY 18, 2023

The Governor’s office announced on January 13, 2023, that California will conform to the filing extensions granted by the Internal Revenue Service (IRS) for California storm victims. This means that filing and payment deadlines for affected individuals and businesses in California are extended to May 15, 2023.

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KROST

AUGUST 16, 2022

The post Common Ways to Hold Title in California appeared first on KROST. As real estate might be the most important asset that an individual or couple may own, how ownership is vested is extremely important. Proper titling will affect the current and future rights of parties to the transaction, Read the full article.

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KROST

FEBRUARY 13, 2023

The following modifications apply to the original tax relief victims of severe winter storms, flooding, landslides, and mudslides in California. The post Update #2: IRS Extends Filing Deadline for California Storm Victims: Tax Relief Available appeared first on KROST. Previously, the Read the full article.

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CPA Practice

MAY 31, 2023

A California man was sentenced in late May to 12 months in prison for willfully failing to account for and pay over employment taxes. According to court documents and statements made in court, Larry Kudsk of Berkeley, California, operated two construction businesses, Kudsk Construction, Inc., Gutierrez, Inc. Attorney Ismail J.

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KROST

MARCH 29, 2023

The Internal Revenue Service (IRS) has once again extended the tax relief to California storm victims. The deadline to file federal income taxes for qualified California residents has been extended to October 16, 2023 as announced by the IRS on March 10, 2023 (CA-2023-03).

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PYMNTS

JANUARY 30, 2020

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 California Public Utilities Commission ( CPUC ) granted the company an official authorization, showcased on the official Aurora website.

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KROST

JANUARY 13, 2023

On January 10, the Internal Revenue Service (IRS) announced tax relief for California storm victims in most counties (see list of counties below). The post IRS Extends Filing Deadline for California Storm Victims: Tax Relief Available appeared first on KROST.

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Patriot Software

OCTOBER 20, 2022

California employers should know about the 2019 court case, Ward v. Read on to learn about California on-call laws. If you want your business to be legally compliant, you must follow federal and state employment laws. Tilly’s, Inc., and how it affects paying for on-call time.

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CTP

JULY 27, 2021

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.

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PYMNTS

DECEMBER 27, 2020

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. Really disappointing.”.

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