Episode Synopsis "LLC filing essentials: what every tax pro needs to know"

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

Listen "LLC filing essentials: what every tax pro needs to know"

More episodes of the podcast Spidell's California Minute

• Another FUTA payroll tax increase is coming
• Nonresident sole proprietor income taxability
• You don’t have to dissolve a California entity by December 31
• Calculating California tax on trust income
• Parent/child property tax transfers under Prop. 19
• Be the hero: Make sure your clients don’t lose out on withheld amounts
• Inherited basis in joint tenancy assets
• Tips for filing Form FTB 3840
• Help your clients avoid Web Pay errors
• Avoid these causes for POA rejections
• Administrative dissolution for nonoperating businesses
• Remote worker issues: two common scenarios
• What does it mean to be “doing business” in California?
• EDD is auditing loan-out corporations
• Real estate withholding and trusts
• California tax rates: what’s included?
• FTB has started its annual outreach letter campaign
• Worker classification and tax professionals
• Be ready to make the June 17 passthrough entity tax prepayment
• MyFTB multi-factor authentication coming soon
• Are your clients just receiving 2022 LLC fee late-payment notices?
• Property tax increases for partial transfers
• Tax treatment of CalPERS long-term care premium settlement
• Bill would ease passthrough entity tax prepayment requirement
• LLC filing essentials: what every tax pro needs to know
• Improvements made to MyFTB account
• FTB is going after out-of-state preparers
• Key nonconformity issues for 2023 returns
• Watch out for these common filing season traps
• How to become a California nonresident
• Passthrough entities have until end of year to maximize federal tax benefits of elective tax
• Some older POA declarations set to expire December 31, 2023
• Annual tax exemption expiring in 2024 for certain entities
• Splitting refunds when taxpayers divorce
• California conformity/nonconformity to the SECURE 2.0 Act
• Verifying estimated tax payments with the FTB
• One-time penalty abatement implemented
• California tax basis capital account reporting is coming
• Avoid unclaimed property fines: get into compliance
• How gross income from tiered LLCs impacts the LLC fee
• California LLC electing S corporation treatment
• How to handle identity verification notices from the FTB
• Proposition 19 questions answered
• Passthrough entity tax: to elect or not to elect?
• CalSavers and California’s retirement mandate
• The e-pay mandate: don’t combine California estimates
• Going from a SMLLC to a multimember LLC (or vice versa)
• October 16 storm-related postponement traps to watch out for
• Watch out for potential traps when paying passthrough entity taxes
• ERC refunds and California returns, practitioner questions answered
• New business personal property form for short-term rentals
• When do you need to file Form FTB 3840?
• What to do if an LLC filed a partnership return
• No long-term care insurance tax in California...yet
• Help clients avoid tax when retiring outside California
• E-file issues that cause filing rejections
• How to respond when clients call about the new California Paid Sick Leave grants
• FTB continues their outreach letter campaign
• Passthrough entity tax elections and superseding returns
• Know the filing requirements when exchanging California property
• Storm postponements delay June 15 payments
• Nonresident sole proprietor income taxability
• California’s one-time penalty abatement program is now live
• How to minimize the impending SDI tax increase
• More information on the October 16 disaster postponement
• SECURE 2.0 Act conformity issues
• How to become a California nonresident
• Dissolving unused entities
• FTB’s City/County tax information sharing program
• Help clients avoid mandatory e-pay penalties
• Timely information sharing, publicizing form changes, top Spidell’s wish list
• Middle Class Tax Refunds aren’t really tax refunds
• SDI wage base cap eliminated starting in 2024
• June 15 passthrough entity tax prepayment: fiscal year taxpayers, new entities, and more
• How to handle the FTB’s identity verification notices
• Base-year property transfers got a whole lot easier under Proposition 19
• Are California’s Middle Class Tax Refunds subject to federal tax?
• FUTA taxes will increase in January
• Should an entity make additional passthrough entity tax payments before the end of 2022?
• Remember California no longer requires entities to dissolve by December 31
• FTB is sending out “education” letters
• California’s tax benefits for conservancy and efficiency
• Cannabis excise tax changes
• New unclaimed property questions on California tax returns
• Tax basis capital account reporting
• Tax basis capital account reporting
• CalSavers will apply to more employers
• California tax treatment of student loan forgiveness
• Community income and residency: When does California tax out-of-state wages?
• Watch out for erroneous passthrough entity tax refunds
• Mismatched and unclaimed real estate withholding
• Mismatched and unclaimed real estate withholding
• Surprise ruling regarding nonresident sale of partnership interest
• Emergency Proposition 19 rules adopted for parent–child transfers
• Emergency Proposition 19 rules adopted for parent–child transfers
• Payroll tax increases coming in January
• Budget bill provides some tax relief
• Budget bill provides some tax relief
• Passthrough entity elective tax and nonresident withholding
• Top reasons for e-file rejections