Single Member Limited Partnerships: A Tool to Get Around the CA Gross Receipts Tax
For decades, limited liability companyies (or LLCs) have been the entity of choice for numerous businesses and their owners. In particular, where single owners are involved, the formation and use of single member LLCs is [...]
IRS Releases Fact Sheets on Obamacare
Recently, the IRS released two fact sheets dealing with Obamacare's impact on individuals and on employers. The fact sheet describing the impact on individuals can be found here and covers topics [...]
Get Ready For the Big Tax Ballot Initiative in 2016
For years, forces have been working to fix various Proposition 13 loopholes. The most note worthy "loophole" is the "change in control" rule that allows 100% of a legal entity's ownership to [...]
The 2014 Nexus Symposium-Panel Discussion on California Tax Law
I had a wonderful visit to Orange, California last week where I participated in a panel discussion at the 2014 Nexus Symposium hosted by Chapman University and its Fowler School [...]
So Your Charity Has Had Its Tax-Exempt Status Revoked?….Now What?
Chances are, if you've formed a 501(c)(3) charity and let its operations fall by the wayside your tax-exempt status has been revoked by the IRS. It used to be that if [...]
Tax Relief for Napa Earthquake Victims
The Franchise Tax Board today announced special tax relief for California taxpayers affected by the August 2014 Napa earthquake. President Obama declared Napa and Solano counties a major disaster on September 11, [...]