RogerRossmeisl

NOVEMBER 26, 2023

California AB 2280 established a new Unclaimed Property Voluntary Compliance Program that waives interest for taxpayers who voluntarily come into compliance with unclaimed property reporting requirements. The post Unclaimed Property Voluntary Compliance Program Now Available in California appeared first on Roger Rossmeisl, CPA.

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MyIRSRelief

MARCH 15, 2024

In the bustling city of Whittier, California, individuals and businesses alike face the daunting task of navigating the complex world of taxes. The Role of Tax Relief Services Tax relief services in Whittier, California, specialize in addressing these challenges, offering a range of solutions tailored to individual and business needs.

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RogerRossmeisl

AUGUST 15, 2021

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. Curiously the IRS has approved.

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KROST

JULY 9, 2024

Here are the current property tax exemptions available in California: 1. Homeowners’ Exemption The California Constitution provides for the exemption of $7,000 in assessed value from property tax assessment of any property owned and occupied as the owner’s Read the full article.

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California Tax 77

KROST

JULY 3, 2024

Following up on our article from last Thursday, there has been a major update for restaurants in the wake of California Senate Bill 478. The Bill, which went into effect on Monday, was set to outlaw surcharges or “hidden junk fees” from businesses, including food and beverage vendors in the state of California.

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RogerRossmeisl

APRIL 17, 2021

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. classic car ownership.

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CPA Practice

MARCH 4, 2024

In October 2023, California became the first state to pass regulations for reporting greenhouse gas emissions (GHGs). companies that do business in California (not just those with a physical presence in California). companies that do business in California (not just those with a physical presence in California).

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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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Accounting Today

MARCH 19, 2024

The Bekkerman case held that California may tax a bundled cellphone at the full price as an unbundled cellphone, rather than the discounted price.

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California Tax 110

ThomsonReuters

JULY 16, 2024

Siegel, Principal at Jackson Lewis Orange County, delivered a presentation at the annual Society for Human Resource Management (SHRM) conference in Chicago, providing valuable insights into the latest developments in labor and employment law in California. These actions are the first changes to PAGA since its enactment.

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MyIRSRelief

JANUARY 26, 2024

However, getting an OIC accepted by the California Franchise Tax Board (FTB) can be a complex and challenging process. According to the California Revenue and Taxation Code Section 19443, the FTB may approve an OIC when it is in the best interest of the state.

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California Tax tax return 130

CPA Practice

OCTOBER 12, 2023

Retail sales of guns and ammunition will soon be subject to a new state excise tax in California. California firearms and ammunition excise tax requirements As set forth in AB-28 , the excise tax is imposed on licensed firearms dealers, firearms manufacturers, and ammunition vendors. By Gail Cole. Are guns taxed in other states?

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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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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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CPA Practice

MARCH 26, 2024

The Bay Area and California both lost thousands of jobs during February, a disquieting report that raises questions about the strength of the economy in the state and this region. The Bay Area continues to be the epicenter of job loss in California,” said Scott Anderson, chief U.S. By George Avalos, The Mercury News (via TNS).

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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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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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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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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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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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New York California North Carolina South Carolina 125

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

MAY 20, 2024

Taylor, Kiplinger Consumer News Service (TNS) California’s Middle Class Tax Refund (MCTR) program provided eligible Californians with one-time inflation relief payments. The California “stimulus” payments began two years ago and continued until January last year. Is California MCTR taxable? However, despite more than 9.5

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CPA Practice

FEBRUARY 27, 2024

By William Earl, Variety Entertainment News Service (TNS) The upcoming Lucasfilm theatrical release “The Mandalorian & Grogu” is one of 15 films to secure an estimated $61 million in 2024 production tax incentives through California’s Film and Television Tax Credit Program. We are beyond thrilled to receive the California Film Tax Credit.”

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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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California Tax income tax 88

CPA Practice

MAY 16, 2024

Founded in 1957, Seiler has offices in Redwood City, San Francisco, San Jose, and Walnut Creek in California. The firm is also a member of HLB International, a global network of independent accounting and advisory firms with offices in more than 160 countries and jurisdictions.

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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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California Tax cpas 52

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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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

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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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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CPA Practice

APRIL 11, 2024

Crowe LLP, a public accounting, consulting and technology firm, has entered into an agreement with KMJ Corbin & Company (KMJ),a California-based firm that provides accounting, auditing, tax and consulting services, for the KMJ team to join Crowe. The KMJ team, like Crowe, are problem solvers first and foremost.

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CPA Practice

DECEMBER 18, 2023

California bottle fee will apply to wine and spirits effective January 1 By Gail Cole . Many aluminum, glass, and plastic containers in California are subject to refundable container recycling fees under the California Beverage Container Recycling and Litter Reduction Act (aka, California Bottle Bill Act), but many aren’t.

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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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CPA Practice

MARCH 8, 2024

Susana Guerrero SFGate, San Francisco (via TNS) California has a newly appointed Fast Food Council ahead of a state law that will increase the hourly pay for fast food workers to $20 on April 1. On Friday, Gov. When asked about the bakery exception by KCRA, Newsom said, “That’s part of the sausage-making.”

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California 98

LSLCPAs

MARCH 25, 2024

The California Enterprise Zone Tax Credit program ended in 2013 with the dissolution of Enterprise Zones. The post The California Enterprise Zone Tax Credit Will Disappear in 2024 appeared first on LSL CPAs. The post The California Enterprise Zone Tax Credit Will Disappear in 2024 appeared first on LSL CPAs.

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California Tax cpas 59

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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California Tax income tax Retail 81

KROST

DECEMBER 5, 2023

In 2022, the California Employment Development Department (EDD) identified approximately 158,000 misclassified workers through audits and inspections. The post Employees vs. Independent Contractors – Combatting Worker Misclassification in California appeared first on KROST.

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