Here’s some great news for California owners of real estate investment properties: As of September 1, 2018, the California Office of Tax Appeals (OTA) has issued a new position regarding “drop and swap” real estate transactions (defined below). The OTA ruled that drop and swap is an accepted business practice Read more…
The Franchise Tax Board (FTB) normally doesn’t make “cold” calls to taxpayers. Generally, they will contact a taxpayer by mail about an incomplete or questionable item on their return. However there are some specific instances when the FTB will make a phone call. Here are a few: The FTB received Read more…
On January 4, 2016 the State of California’s Franchise Tax Board launched the enhanced “MyFTB” program. The upgraded registration process is designed to better protect your account information and privacy. This program provides tax account information and online services to individuals, businesses, and tax preparers. As part of our preparation Read more…