Remove California Remove cpa firm Remove Tax
article thumbnail

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.

article thumbnail

California AB-150 Provides SALT Cap Work-Around

RogerRossmeisl

On 7/16/2021, Governor Newsom signed into law AB-150, which provides a means by which certain pass-through entities (Qualified Entities) can make an election to pay California income tax (at the entity-level) on behalf of their owners, for which their consent must be given. Curiously the IRS has approved.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

May 15 Tax Deadline Extended to October 16 for California Disaster Area Taxpayers

RogerRossmeisl

As reported in IR-2023-33 on 2/24/2023 Disaster-area taxpayers in most of California now have until October 16, 2023, to file various federal individual and business tax returns and make tax payments, the Internal Revenue Service announced last Friday. Previously, the deadline had been postponed to May 15, 2023 for these areas.

article thumbnail

Does Your Dealership’s CPA Know the Auto Industry?

RogerRossmeisl

or a seasoned automotive veteran looking to make a change to an Automotive CPA that understands your business. or a seasoned automotive veteran looking to make a change to an Automotive CPA that understands your business. I’m Roger Rossmeisl, a senior partner with Kho & Patel CPAs with offices in Southern California.

CPA 245
article thumbnail

California Main Street Small Business Tax Credit II Begins 11/1/21

RogerRossmeisl

California Assembly Bill No. 50 (AB-50) established the California Main Street Small Business Tax Credit II, which will provide COVID-19 financial relief to qualified small business employers. Small Business Tax Credit. The credits are reserved on a first-come, first-served basis.

Maine 158
article thumbnail

Update- California PPP Tax Conformity

CapataCPA

Update- California PPP Tax Conformity Although it is no secret that California has yet to release information on whether or not it will partially conform state tax code to the current federal tax rules regarding forgiven Paycheck Protection Program (PPP) loans, CalCPA has shared why the delay is taking place.

article thumbnail

California 1099-NEC Filing Requirements

RogerRossmeisl

In IRS Tax Tip 2020-80, the IRS explained new Form 1099-NEC, Nonemployee Compensation for business taxpayers who pay or receive nonemployee compensation. Starting in tax year 2020, payers must complete this form to report any payment of $600 or more to a payee. For 2020 tax returns, the due date is February 1, 2021.