Category Archives: California

California Cities Eye Netflix as a Revenue Source

Posted on September 25, 2016 by Russ

“Don’t tax you, don’t tax me. Tax that fellow behind the tree.” — Russell B. Long The city of Pasadena, California (home of the Rose Bowl and annual Rose Parade) voted to expand their telecommunications tax to include streaming video … Continue reading →

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Kiplinger’s Tax Friendly and Tax Unfriendly States: No Surprises

Posted on August 27, 2016 by Russ

Kiplinger released its list of the tax friendly and least tax-friendly states in the US. There really aren’t any surprises: Here are the bottom ten: 1. California 2. Hawaii 3. Connecticut 4. New York 5. New Jersey 6. Minnesota 7. … Continue reading →

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The California Pension Crisis

Posted on July 31, 2016 by Russ

Last week, the California Public Employees’ Retirement System (CALPERS) released its rate of return for the past year. CALPERS budgets based on a 7.5% return per year. In a “Missed it by that much” moment, they came in at 0.61%. … Continue reading →

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Dotting the I’s and Crossing the T’s

Posted on July 17, 2016 by Russ

Assume there’s a California LLC filing its final tax return, and it is owed a refund of (say) $900. You timely file the return and are surprised when you receive a check for $100 rather than $900. What happened? Years … Continue reading →

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Is Cost of Goods Sold Included in the Calculation of the LLC Fee for a California LLC in Real Estate?

Posted on July 14, 2016 by Russ

The Franchise Tax Board, California’s income tax agency, today issued a legal opinion on how to calculate the Limited Liability Company (LLC) fee for a real estate company selling real property. This is an important issue because if Cost of … Continue reading →

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A Train to Nowhere

Posted on June 22, 2016 by Russ

I haven’t posted on California’s bullet train in some time (I’m no longer a resident of the Bronze Golden State), but it’s time to once more post about the train to nowhere. In theory, this train will connect Los Angeles … Continue reading →

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Withholding Notice Snafu in California

Posted on June 8, 2016 by Russ

The Franchise Tax Board, California’s income tax agency, apparently issued a boatload of withholding mismatch notices. Some (but not all) of those notices appear to be in error; additionally, the FTB’s phone and chat lines have been swamped. The FTB … Continue reading →

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Bozo Tax Tip #9: Nevada Corporations

Posted on April 5, 2016 by Russ

As we continue with our Bozo Tax Tips–things you absolutely, positively shouldn’t do but somewhere someone will try anyway–it’s time for an old favorite. Given the business and regulatory climate in California, lots of businesses are trying to escape taxes … Continue reading →

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Where I Became the “Messenger of Doom” (My Final Comments on Turf Rebates)

Posted on February 21, 2016 by Russ

One of my friends coined my current nickname, the “Messenger of Doom.” It had to do with a year where he made a lot money, and then I gave him the bad news that he had only made about half … Continue reading →

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Board of Equalization Excoriated for Ignoring the Law and Binding Precedents

Posted on February 16, 2016 by Russ

My thanks to Dan Walters of the Sacramento Bee for pointing out a California case where the California Board of Equalization (yet another California tax agency; this agency administers sales and use tax) was rightly excoriated. Dan Walters begins: However, … Continue reading →

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