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April 2013 Archives

California ranked poorly for small business tax system

Every year the Small Business and Entrepreneurship Council releases a list that ranks each state based on the friendliness of its tax system to small businesses. This year, Texas was ranked number one and our very own California came in dead last.

Learning from celebrity tax mishaps: part two

In our last post we talked about tax troubles faced by celebrities. Specifically, Wesley Snipes and MMA fighter Nick Diaz have both garnered headlines in recent years. Snipes was sentenced to three years in prison for failing to file returns in 2008. And Diaz mentioned at a press conference that he has never paid taxes, leaving some to speculate whether he may face charges of failure to file or tax evasion.

Retroactive taxes may scare off California entrepreneurs

The California Franchise Tax Board recently made a decision to retroactively collect taxes that the state's business owners and investors had been told they would not be expected to pay. It started 20 years ago when the state offered a capital gains tax incentive to motivate entrepreneurs and investors to set up in California.

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