Archive for the ‘California Franchise Tax Board’ Category

Get On The Ball Now If You Want to “Borrow” from your IRA

Posted on August 4th, 2014 by by George Ashley

As we recently mentioned, there has been some confusion over the application of the “60 day rule,” pursuant to which a bloke can temporarily access his IRA dough for whatever purpose he wants, as long as he replaces the funds within a 60 day period.  And the law has long stated, that one can only […]

Californians Think Taxes Are Too High!

Posted on April 28th, 2014 by by George Ashley

So what else is new, right? Seems the Public Policy Institute of California (PPIC) recently conducted a survey which discovered this surprising fact. And, as good little Obama soldiers all, Californians seem to think that the solution to the problem is to simply tax wealthy folk and corporations more, rather than look for other ways […]

Obama And His “Hidden Persuaders”

Posted on August 22nd, 2013 by by George Ashley

Upon hearing of the proposition that government Pooh-Bahs are suggesting ways to “Strengthen Federal Capacity for Behavioral Insights,” we couldn’t help but recall the Vance Packard classic from the 50s, regarding the encroachments of advertisers into target audiences psyches. Seems Obama’s minions are considering implementation of a “Behavioral Insights Team” (a la a scheme pushed […]

California: Still A Leader

Posted on June 17th, 2013 by by George Ashley

In one of the more dubious categories, that is. Recall that some 35 years ago, California voters passed the now famous “Proposition 13,” which cut and limited the annual growth of property taxes. As noted by the Tax Foundation, some Californians worried, at the time, that capping property taxes “at such a low level” would […]

So, Just When Is A Tax Not A Tax?

Posted on March 20th, 2013 by by George Ashley

And you thought you had this all figured out when the Supreme Court told you some of the Obamacare exactions were “taxes,” contrary to all of the blather from the politicians when all of this was being debated, thereby rendering the whole mess constitutional, as far as Uncle Sam is concerned. So now comes the […]

Watch That Bank Account: FTB May Grab Your Dough

Posted on November 11th, 2012 by by George Ashley

So you thought privacy laws kept your financial information a secret, and your fiscal identity beyond the reach of the Federal and state Revenooers. Well – get real, particularly if you deal with the California Franchise Tax Board (FTB).  And get familiar with “The Financial Institution Record Match (FIRM)” program, enacted in 2011, which authorizes […]

California Sales and Use Tax Reminders

Posted on November 9th, 2012 by by George Ashley

A few reminders to businesses from the California Board of Equalization (BOE)…. My business purchases supplies from an out-of-state vendor who ships the property to my California business – are my purchases taxable? “You Bet,” saith the BOE.  An out-of-state retailer must collect California use tax if they hold a permit or are engaged in […]

Nonresident Challenge Irks California FTB

Posted on February 6th, 2012 by by George Ashley

Leave it to the Franchise Tax Board to throw the U.S. Constitution under the bus, when it comes to taxation of folks who have fled the state – in many cases because they simply can’t stand the taxation there anymore. And perhaps such was the case with taxpayer Hughes, who had moved to Tennessee, but […]

California FTB Not Interested in Simplification

Posted on October 6th, 2011 by by George Ashley

So who cares about simplification, says California’s Franchise Tax Board.  In fact, why not make things more complicated? That seems to be the attitude, as demonstrated in FTB’s latest volley, this week, in the form of a proposal to request yet additional information relative to real estate taxes deducted by California filers.

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