BCo Blog

FTB Updates Publication 1016 (Real Estate Withholding Guidelines)

California Revenue and Taxation Code Section 18662 and the related regulations require withholding of a 3 1/3% tax at the source from the sale or exchange of California real estate.  The California Franchise Tax Board [...]

FTB to Review Head of Household Filing Status for 83,000 Taxpayers

The Franchise Tax Board (FTB) has announced that it is mailing more than 83,000 letters to taxpayers asking them to justify the Head of Household (HOH) filing status claimed on their 2014 tax returns as [...]

By |November 3rd, 2015|Categories: Franchise Tax Board, Individual Tax|Tags: , , , , , , , |Comments Off on FTB to Review Head of Household Filing Status for 83,000 Taxpayers

GO-Biz Launches California Business Portal

In July 2015, the California Governor's Office of Business and Economic Development (GO-Biz) launched the California Business Portal, a one-stop website for business owners to find information and assistance regarding operating a business in the [...]

California College Access Tax Credit

Under bills SB 174 and SB 798 signed by Gov. Jerry Brown in September 2014, California introduced a creative way to increase funding for the Cal Grant B program, which provides money for books and living expenses to [...]

Affordable Care Act Employer Reporting Requirements for 2015

As part of the continued roll out of the Affordable Care Act, beginning in 2015 large employers must file Forms 1094-C and 1095-C with the IRS.  A large employer is typically one with 50 or [...]

By |August 18th, 2015|Categories: Business Operations, Business Tax, IRS|Tags: , , , , , , , , , , |Comments Off on Affordable Care Act Employer Reporting Requirements for 2015

Reimbursement of Employee Health Insurance Premiums (Including S Corporation Shareholders)

A little known and very under-publicized change to the insurance tax laws that took place on January 1, 2014, has exposed employers to a potentially heavy excise tax if they reimburse employees for health insurance [...]

By |August 18th, 2015|Categories: Business Operations, Business Tax|Tags: , , , , , , , , , , , , |Comments Off on Reimbursement of Employee Health Insurance Premiums (Including S Corporation Shareholders)