On February 24, 2023, the FTB has reconsidered its position regarding California’s tax treatment of the Employee Retention Credit (ERC) FTB will not require taxpayers to include any portion of the ERC on their California tax return. FTB stated: “Recently, the Franchise Tax Board provided a response to a question regarding the taxability of the […]
ERC refunds are not taxable income for California Read More »
2022 tax filing deadline extended for disaster area taxpayers to October 16, 2023, for most California counties… But not all… Below is the list of seven California counties that are excepted from the extended filing deadline: Imperial Kern Lassen Modoc Plumas Shasta Sierra The extension applies to all returns due to prior to the October
2022 Tax Filing Deadline Extended Read More »
Required Minimum Distributions What we need to know… The Required Minimum Distributions (RMDs) are the minimum amounts you are require withdraw / distributing from your IRA or retirement plan account when you reach age 72. Beginning the tax year 2023, the age rules changed for RMDs. RMDs will begin when you are at age 73
Required Minimum Distributions (RMDs) Read More »
