Yes… it’s time to start thinking about taxes again. Here are some things to think about: Filing Deadlines Individual returns – April 15 – October 15 with extension S Corporations, Partnerships and LLCs – March 17 – September 16 with extension C Corporations – April 15– October 15 with extension Los Angeles City Tax (see …
Tag Archives: Business Taxes
Another Look at S Corps
An S Corporation can be a beneficial business entity. But not always. Many accountants advise their small business clients to form S Corps, but there are a lot of variables to take into consideration. I have discussed S Corps previously in this blog. This time I want to emphasize who does and doesn’t benefit from …
California Passthrough Entity Elective Tax (PTET)
The California passthrough entity elective tax (PTET) is intended to give relief to taxpayers affected by the limitation on deductibility of state and local taxes (SALT) introduced a few years ago. The idea is that your S corporation, partnership or LLC (but not a single member LLC) can elect to pay a 9.3% tax on …
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“Doing Business” in California
“What do you mean I have to pay California tax on my LLC? It’s registered in (name a state)” How many times have I heard a California client say that in an outraged tone? Many people register their LLCs in other states, in an effort to avoid California taxes. There was a time when TV …
