Tag Archives: FTB

California Doesn’t Conform on Self-Employment Tax Deduction Change

Posted on March 4, 2012 by Russ

Yet another California non-conformity issue has reared its head. Those of us who are self-employed must pay self-employment tax on their self-employment earnings. The self-employed get to deduct 50% of that on line 27 of Form 1040. In 2011 the … Continue reading →

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The FTB Would Like Some Help from California Tax Professionals

Posted on July 28, 2011 by Russ

If you’re a tax professional in California, the Franchise Tax Board is asking for some help to improve their website. We need tax professionals’ help to test webpages and online applications (such as MyFTB Account) and provide feedback to us. … Continue reading →

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At Least, He’s Doing Well…

Posted on April 20, 2010 by Russ

Who is Halsey Minor? He happens to top the California Franchise Tax Board’s semi-annual listing of tax delinquents. I may not have heard of Mr. Minor, but many others have; he is the founder of CNET. Mr. Minor told c-ville.com … Continue reading →

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Annualization Method for Estimated Taxes in California

Posted on February 21, 2010 by Russ

Many taxpayers, especially those with income streams that are inconsistent, use the Annualization Method to make their estimated tax payments. For federal tax purposes, it’s relatively easy. You take the year-to-date income through the period end (March 31st, May 31st, … Continue reading →

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FTB Sends Erroneous Notices to EAs

Posted on July 11, 2007 by Russ

Spidell is reporting that California’s Franchise Tax Board (FTB) has sent notices to 1,400 tax preparers who are not registered, and threatened each with a $2,500 fine. Only one problem: EAs, CPAs, and attorneys aren’t required to be registered (all … Continue reading →

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A Horror Story (Averted) From Bill Leonard

Posted on May 8, 2007 by Russ

Once a week I receive the Leonard Letter. Bill Leonard, a member of California’s Board of Equalization, each week states his views on what’s going on in the tax world in California. It’s essential reading for anyone in California concerned … Continue reading →

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The FTB Does Something Smart

Posted on March 5, 2007 by Russ

I’ve criticized California’s Franchise Tax Board on several occasions. However, I am going to praise them when they deserve it, and this is one of those times. The FTB, in the past, has assessed late payment penalties when payments on … Continue reading →

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Why the Franchise Tax Board Is “Fun” to Deal With

Posted on January 9, 2006 by Russ

Let’s assume you disagree with a decision that the Franchise Tax Board (FTB) makes on your tax return. You go through the FTB appeals process, and get nowhere. California then allows appeals to the Board of Equalization (BOE). Today, let’s … Continue reading →

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Saving Tax Returns, California-Style

Posted on October 25, 2005 by Russ

California currently has a four-year statute of limitations on income taxes, but no statute of limitations on collections of tax monies. As we previously noted, the Franchise Tax Board earlier this year sent out notices to taxpayers—asking for payments on … Continue reading →

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