One of the main reasons that I started blogging was to help people. I wanted to motivate “self-help” style legal solutions by taking the knowledge that I have as an attorney and making it available on the web.
rs-california-income-tax
Why Do I Owe State Taxes This Year? (& Why so Much?) 2022 Guide
If you haven’t had to pay any state taxes for the past few years but now face a liability, you might be wondering, why do I owe state taxes this year? It’s a pretty common question that many taxpayers struggle to find the answer to.
You may not even be aware that you owe state taxes this year. It all depends on how your income has changed over the previous year and whether you still have any credits or deductions available to you that were used previously to reduce your taxes.
Get to Know California Income Tax Brackets
In California, state income taxes are generally among the highest in the country, but the burden is spread among different segments of the population. The rate of California income tax is arranged on something of a sliding scale, separated by income tax brackets.
4 Frequently Asked Questions about California State Taxes
As a tax attorney, I get asked a lot of questions everyday regarding – you guessed it – the rather specialized world of California taxation. To be sure, some questions are asked more frequently than others. In light of this, I’ve given some thought to four frequently asked questions and hope that my answers provide you with the information that you’re interested in.
How Does the FTB Handle Business Tax Collections?
The people who administer state tax laws generally show up in the news only when a newsworthy case is reported, typically one involving tax evasion, a “big fish” going to jail for not paying taxes.
I Got a Notice in the Mail From California Asking Me to File a Tax Return. What Should I Do?
The state of California at least not yet the very first thing you want to do.
Guide to Franchise Tax Board Collections Procedure
Franchise Tax Board Business Collections
Ultimate Guide to Franchise Tax Board Audits
CA Business Owner’s Guide to State Income Taxes & FTB Audit and Appeal Process
Small Business Taxation in California
With higher than average state income tax imposed on business and personal income, California can be an expensive state to do business in. The state’s small businesses are particularly hard hit under its tax laws. California has a higher than average state income tax imposed on business and personal income. Even if your California business is structured as a pass-through entity, meaning income should only be taxed at one level; the California Franchise Tax Board may still be double-taxing your income.The Franchise Tax Board is the agency responsible for administering personal and business income tax in the State of California. While the state generally follows the lead of the IRS in setting policy, it does not do so in every instance.
How the Franchise Tax Board Uses Tax Liens
We previously discussed how the Board of Equalization handles tax liens. For this post in our series, we would like to talk about how the California Franchise Tax Board addresses the use of liens. There are differences between the way the various California tax agencies and the IRS use tax liens about which you need to take note to stay out of hot water.