Spidell's California Minute

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.