Categories: California Tax Law
If you’re a business owner in California and you’re not familiar with the EDD audit, you need to familiarize yourself with the concept. An EDD audit occurs when the California Employment Development Department (EDD) launches an investigation into a business’ California state payroll tax records to determine if the business has classified a worker as…
Categories: California Tax Law
When it comes to California and taxes, there’s generally a form for every withholding and business transaction. This is especially true for California businesses and employers. I’m often asked which tax forms need to be completed and which ones are required. Here’s a look at three of the most common California tax forms and whether…
Categories: Federal Tax
A common question people have about taxes is whether prize money is considered taxable income. And further, whether athletes pay tax on prize money. Here’s a look at how the IRS and the state of California classify prize money when it comes to taxes. Prize money is considered any money received from awards, raffles, lottery…
Categories: California Tax Law
If you’re a California business owner and taxpayer, and if you’ve ever hired an independent contractor, then you should be familiar with an EDD audit. These California Employment Development Department (EDD) state payroll audits occur when a business has classified a worker as an independent contractor instead of an employee. This means the business owner…
Categories: California Tax Law
California, with its near-perfect weather and proximity to the Pacific Ocean, is one of the most desirable places to live in the United States. But with the promises of California gold also brings an expensive cost of living and high income tax. The Golden State’s highest individual income tax rate of 9.3%. While California is…
Categories: California Tax Law
You’ve gone through the process of an EDD audit and now you owe the state of California money. Like many business owners and taxpayers, you may be wondering how to pay those penalties. The EDD works through the Central Collections Division to notify you as to how much you owe and when it’s due. Generally,…
Categories: General Information
Friends of Balboa Park is pleased to welcome the newest addition to our Board of Directors, Allison Soares. Allison is the COO and Tax Partner at San Diego law firm Vanst Law. She іѕ also аn adjunct рrоfеѕѕоr аt Sаn Diego Stаtе Unіvеrѕіtу, tеасhing tаx prосеdurеѕ, prасtісе аnd ethics at SDSU’s Chаrlеѕ W. Lаmdеn School…
Categories: California Tax Law
People typically associate the words “tax audit” with the Internal Revenue Service and the federal government. However, California taxpayers can also be audited by the Franchise Tax Board (FTB), the statewide agency that determines the state income tax for businesses and individuals. Like the IRS, the FTB may choose to audit your personal and business…
Categories: California Tax Law
One of the big red flags that can trigger an EDD audit is when a former worker files for unemployment. This type of audit occurs when the California Employment Development Department (EDD) determines that a business has classified a worker as an independent contractor instead of an employee. You may have always seen that individual…
Categories: Federal Tax
For many individuals, April 15 tends to be as big of a day on the calendar as New Year’s Day or Independence Day. The national tax filing deadline means that your taxes must be filed and fees paid on or by April 15 to avoid penalties. With the passage of the Trump Tax Reform Plan…
