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Categories: California Tax Law
Does California Tax Social Security? I often receive questions about social security benefits and whether it is considered taxable income, especially by the state of California. The answer is: it depends. Social security benefits are not taxable by the state of California. The amount of social security benefits you included in adjusted gross income on...
Categories: IRS
What are the Penalties for Late Payment of Payroll Taxes? I’m often asked by business owners what will happen if they are late paying payroll taxes to the Internal Revenue Service (IRS). Employers should be collecting payroll taxes for every employee (with the exception of independent contractors). They are typically calculated as a percentage of...
Categories: General Information
Mayor Appoints Allison Soares to Balboa Park Committee San Diego Mayor Todd Gloria appointed Allison Soares to the City of San Diego’s Balboa Park Committee. The Committee serves in an advisory capacity to the Mayor, the City Council and City Manager on policy issues relating to the acquisition, development, maintenance and operation of Balboa Park....
Categories: IRS
Is the IRS Keeping My Refund? One of the best feelings is filing your taxes and realizing you’re entitled to a refund. The thought of money coming into your pockets is an exciting thing. However, there are a few circumstances in which the IRS may keep your refund, especially if you owe them money in...
Categories: IRS
Do You Have to Pay Taxes on Profit from Selling a House? I’m often asked by homeowners about potential taxes they may owe when they sell their house. Many individuals wonder if they make a profit, do they owe part of that profit to the Internal Revenue Service in the form of capital gains taxes....
Categories: California Tax Law
What Happens if I Receive an Inquiry of Record Notice? One of the most common audit calls I receive is from businesses who get an inquiry of record notice, or a pre-audit questionnaire. The EDD is going to audit you for three years. What they want to do is they’re looking for the independent contractors...
Categories: General Information
The Two Sides of the Taxing Agencies There are two different sides to every taxing agency. There’s the assessment side and the collection side. On the assessment side, when you file a tax return, you’re self assessing yourself. You’re saying, hey, government, I owe you $10. You can also be assessed by going through an...
Categories: California Tax Law
What is a California Residency Audit? Recently, I’ve gotten a lot of phone calls from people wanting to leave California. They don’t want to deal with the taxes or the regulation. And people call and want to know about residency audits. The State of California has three classifications for an individual: you’re a resident, you’re...
Categories: IRS
Understanding IRS International Compliance: The Streamline Program Understanding the IRS international compliance problems can be daunting. Some people are born in another country, have family members in another country, somebody passes away. Now they have a bank account or a piece of property that’s in their name. There are certain requirements when you file your...
Categories: California Tax Law
Help! My Dental Office Received an EDD Audit I’ve received a lot of calls from California dental practices that are facing an EDD audit. If you’re a dentist or dental office, and if you’ve ever hired an independent contractor, you may want to familiarize your practice with the EDD audit. These California Employment Development Department (EDD)...
