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Significant Tax Changes for California Startups Beginning in Tax Year 2024

BurklandAssociates

California’s new tax laws limit NOL deductions and tax credits for startups, raising potential tax burdens. The post Significant Tax Changes for California Startups Beginning in Tax Year 2024 appeared first on Burkland. Here’s what founders need to know to stay ahead.

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Citrin Cooperman Adds Signature Analytics in California

CPA Practice

As part of the deal, New York City-based Citrin Cooperman gains two partners and more than 65 professionals while expanding its presence in Southern California. Financial terms of the deal weren’t disclosed.

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Navigating Business Tax Services in Whittier, California

MyIRSRelief

In the bustling city of Whittier, California, businesses face a myriad of tax-related challenges that can significantly impact their operations and financial health. For businesses in Whittier, California, engaging a tax professional who understands the intricacies of federal and state tax codes is crucial.

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California Storm Victims Qualify for Extended Tax Filing Deadlines

RogerRossmeisl

On January 10, 2023, IRS news release IR-2023-03 announced that California storm victims now have until May 15, 2023, to file various federal individual and business tax returns and make tax payments. The post California Storm Victims Qualify for Extended Tax Filing Deadlines appeared first on Roger Rossmeisl, CPA.

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California Gas Tax Increases

CPA Practice

Rob Nikolewski The San Diego Union-Tribune (TNS) As tensions mount between the petroleum industry in California and state policymakers, the cost of a gallon of gasoline just got a smidge more expensive this week. Monday marked the start of the new fiscal year and California’s state excise tax on gasoline increased 1.7 cents per gallon.

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California Suspends NOLs and Limits Credit Utilization

Withum

In California, net operating losses can be carried forward for 20 years. The loss suspension does not apply if either the net business income or modified AGI subject to California tax is less than $1 million. Let’s Chat The post California Suspends NOLs and Limits Credit Utilization appeared first on Withum.

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California Short-Term Rentals Now Require a Business Personal Property Filing

RogerRossmeisl

Form BOE-571-STR can be found here: www.boe.ca.gov/proptaxes/pdf/sample-boe571str.pdf When a property owner rents out all or part of their property, such as a residential unit, they are required to pay business property tax on the items used for the rental, The post California Short-Term Rentals Now Require a Business Personal Property Filing appeared (..)