Mark Doyle and Monica Goel will be giving a presentation to Orange County CPA’s on Wednesday, June 23, 2010 at the Hotel Hanford in Costa Mesa through the CalCPA Education Foundation. The presentation topics are fiduciary account principles, including review of a simplified, comprehensive form of account for use in estates and trusts, as well as a review of the court format and requirements for accounting approval by courts. The objective of the presentation is to teach accountants about the simplified form of fiduciary account in the proper court form, in order to get court approval in a timely and cost effective manner for their clients.
Click here for more seminar information.
Many businesses are beginning to understand the flexibility and usefulness of a limited liability company as a way to conduct business within California. However, with tax season approaching, many successful business owners are stunned to discover the Gross Receipts tax levied upon California limited liability companies and foreign LLC’s which register to do business in California.
The gross receipts tax is a state tax imposed upon LLC’s conducting business in California. The minimum gross receipts tax for an LLC is $800. However, the gross receipts tax works on a graduated scale based upon the gross receipts of the company. Once a company has gross receipts in excess of $250,000, the tax increases from $800 up to $11,970, depending on the level of gross receipts.
We hope that you are doing well and that you had a wonderful holiday season. As we have done for the past few years as the New Year begins we notify you of certain acts of Congress, the Courts and IRS (and some cases the failure to act) that we believe require your attention. This is a brief summary of some of the changes in the law that occurred on January 1, 2010, and what you can do to learn more about these changes. Please call us for more information about any of these developments and what steps you should implement to take advantage of favorable developments and to minimize the impact of those that are unfavorable for you, your family and your investments.
