This week we’re covering a bill that has been introduced which would allow entities to make a passthrough entity tax election even if they didn’t make a June 15 prepayment.

This week we’re covering what a tax professional needs to know about LLC filing requirements.

This week we’re covering some enhancements to the MyFTB account system that have improved and streamlined the user experience.

This week, we’re covering the requirement for a nonresident sole proprietor to pay California tax on income received from California.

This week we’re covering some key California nonconformity issues for 2023 returns.

This week we’re covering some filing season traps that taxpayers can fall into, and what to watch out for to avoid these costly mistakes.

This week we’re covering what a taxpayer moving out of California needs to do to break ties with the state and actually become a nonresident.

This week we’re covering why a passthrough entity that made the passthrough entity tax election may want to pay the remainder of the tax by December 31.

This week we’re covering some older Power of Attorney declarations set to expire at the end of this year, and how to see which declarations are affected in MyFTB.

This week we’re covering the expiration of the temporary exemption for the $800 annual tax that’s available for new LPs, LLCs, and LLPs.

This week, we’re covering tips for splitting refunds when taxpayers divorce.

This week we’re covering California conformity and nonconformity to various SECURE 2.0 Act provisions.

This week we’re covering some things to keep in mind when verifying estimated tax payments with the FTB.

This week we’re covering the FTB’s new one-time penalty abatement provision, which goes into effect for tax years beginning on or after January 1, 2022.

This week we’re covering California’s tax basis capital account reporting requirement, which goes into effect after a two-year delay.

This week we’re covering the Unclaimed Property Voluntary Compliance Program to help businesses come into compliance with the unclaimed property reporting requirements.

This week we’re covering how gross income from tiered LLCs impacts the LLC fee calculation.

This week we’re covering some issues that an LLC may face when it elects to be treated as an S corporation, and what the best course of action is.

This week we’re covering identity verification notices from the FTB and the best way to handle these notices.

This week we’re covering some questions we continue to receive about intergenerational property transfers under Proposition 19.

This week we’re talking about considerations for whether and how to make a passthrough entity tax election for 2022 and/or 2023.

This week we’re discussing CalSavers enforcement notices and what to do if an employer receives one.

This week we’re covering avoiding the e-pay requirement, which may apply to a taxpayer if they combine estimate payments and exceed the threshold.

This week we’re talking about some things to keep in mind when a single-member LLC becomes a multi-member LLC, or vice versa.

This week we’re covering some traps to watch out for regarding the filing postponement to October 16.

This week we’re covering some potential traps to watch out for when paying passthrough entity taxes.

This week we’re covering questions we’ve been receiving from practitioners regarding Employee Retention Credit refunds and California returns.

This week we’re talking about the new business personal property reporting requirement for owners of short-term rentals.

This week we’re covering when taxpayers need to file Form FTB 3840, which is used for reporting like-kind exchanges.

This week we’re covering what to do if an LLC filed a partnership return when it shouldn’t have.

This week we’re covering what a long-term care insurance tax might look like if one were to be enacted in California.

This week we’re talking about a way you can help clients avoid tax when they retire outside of California, by structuring payouts to take advantage of a carveout from California taxation.

This week we’re covering the top reasons for e-file rejections for business and individual returns.

This week we’re covering how to respond when clients call about the new California Paid Sick Leave grants.

This week we’re covering the FTB’s letter campaign regarding Schedule A and Schedule C deductions and what taxpayers should do if they receive one of these letters.

This week we’re covering the passthrough entity tax election and how to make the election on a superseding return, which the FTB defines somewhat differently than the IRS.

This week we’re discussing filing California’s Form 3840, which is filed when California property is exchanged for out-of-state property.

This week we’re covering how the filing and payment extension affects the June 15 prepayment deadline for the passthrough entity elective tax and the LLC gross receipts fee.

This week we’re covering nonresident sole proprietor income and California taxability, along with a recent OTA decision regarding an out-of-state accountant.

This week we’re talking about California’s new one-time penalty abatement program.

This week we’re covering some questions that we’ve been receiving from practitioners on the October 16 disaster postponement due to the California winter storms.

This week we’re discussing California conformity to the SECURE 2.0 Act.

This week we’re discussing things taxpayers should consider when they’re moving out of California and establishing residency in another state.

This week we’re covering voluntary and involuntary administrative dissolution procedures for unused entities.

This week we’re covering the FTB’s City and County tax information sharing program as it relates not only to home-based businesses, but to employees working remotely from home.

This week we’re discussing the e-pay mandate and the penalties for failing to make mandatory e-payments.

This week we’re covering some proposals for change that Spidell presented at the FTB’s recent Taxpayer Bill of Rights Meeting.

This week we’re discussing California’s Middle Class Tax Refund eligibility and taxability.

This week we’re covering the elimination of the SDI wage base cap, and what you can do to prepare for this new tax increase on wage earners.