Archived
Returned from 10 yr living overseas, & I have a 6k CA state tax lien . Should I go to the FTB State directly or seek a tax atty?
Rex's answer
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Answered on July 07, 2015
If you did not file a FINAL California return for 2004, there is no statute of limitations so the FTB had the right to assess you. Having said...
Archived
Do I pay tax on a 401 K?
Rex's answer
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Answered on July 06, 2015
I agree with Mr. Underwood above, but I would add that you will also be subject to a California early withdrawal penalty of 2.5% if you are under...
I just found out my bank account was levied and left me $0. The $ was for my bills. What can I do to get my funds back?
Rex's answer
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Answered on July 06, 2015
If it is the FTB, you need to call the Collections Unit at 800-689-4776 or 916-845-4470 and arrange for an installment payment plan. If you make...
Archived
I sold personal stock, through my online brokerage account, while living in CA, do I have to pay CA franchise tax?
Rex's answer
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Answered on July 06, 2015
You have lots of issues here that cannot be addressed completely in Avvo so I highly recommend that you talk to a CPA, accountant or tax attorney...
Archived
Can I open a 2nd business in CA as a sole proprietor if I am on the board of a suspended LLC in CA?
Rex's answer
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Answered on June 25, 2015
Yes; there is nothing to prevent your doing so under the law.
Archived
Due to CPA miss I have massive unpaid LLC Annual penalties/fees. If I walk away will they continue to bill the LLC indefinitely?
Rex's answer
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Answered on June 25, 2015
The $800 LLC minimum tax is not a personal liability. Even the FTB admits on its website that "In general, all the owners (members) are shielded...
Archived
Unpaid CA LLC fees due to CPA miscue. LLC suspended. Trying to dissolve. Is there a way to avoid paying or reducing penalties?
Rex's answer
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Answered on June 25, 2015
The $800 LLC minimum tax is not a personal liability. Even the FTB admits on its website that "In general, all the owners (members) are shielded...
Archived
I have a suspended LLC due to unpaid annual fees. Can FTB continue to charge me a yearly annual fee after being suspended?
Rex's answer
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Answered on June 25, 2015
The FTB will continue to send you notices related to the Annual LLC Tax due plus interest and penalties, but this liability for the minimum tax is...
Archived
Can the EDD open another audit when one is still pending
Rex's answer
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Answered on June 17, 2015
Yes; the EDD can open another audit while one is ongoing.
Archived
Can you get a large gift from someone not related to you (may be a friend of my parents) ?
Rex's answer
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Answered on June 15, 2015
The answer to your question is "yes" you can receive a gift from anyone. If the gift is less than $14,000, the gift tax does not apply. I might...
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