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Jessica Suarez

Help with CA FTB issues for small business - tips and experiences needed

Hey everyone, I'm dealing with some California Franchise Tax Board issues for my small business. Anyone else in the same boat? What's been your experience? Any tips on how to navigate this process smoothly?

Ugh, the FTB can be such a pain to deal with. I've been through it before. What specific issues are you having?

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Just trying to figure out how to file correctly and make sure I'm not missing anything. It's my first year dealing with this and I'm a bit overwhelmed.

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Gotcha. My advice? Get a good accountant if you can afford it. They can save you so much headache (and potentially money) in the long run.

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Thanks for the tip! I'll look into finding an accountant. Any recommendations on how to find a reliable one?

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I found a method to get someone on the phone at the FTB. I used this site's (claimyr.com) calling tool that dials the phone menu, stays on hold, waits for a live agent to pick up, then sends the call to my phone. It does cost $20, but it works. Here's a video about it: https://youtu.be/XbqD8mexcoQ

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Sounds too good to be true. Does it really work? 🤔

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It does! I was skeptical at first too, but it saved me hours of hold time. Totally worth the $20 imo.

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Idk man, paying to talk to a government agency feels wrong. Shouldn't this be free?

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I get where you're coming from, but for me, time is money. I'd rather pay $20 than waste half a day on hold. 🤷‍♂️

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Here's my comprehensive guide to dealing with the California Franchise Tax Board for small businesses: 1. Stay organized: Keep all your financial records in order. This includes income statements, balance sheets, and tax returns. 2. Understand your obligations: Familiarize yourself with the specific requirements for your business type and size. 3. File on time: Late filings can result in penalties. Set reminders and file early if possible. 4. Use the online services: The FTB's website has many self-service options that can save you time. 5. Seek professional help: Consider hiring a CPA or tax attorney, especially for complex issues. 6. Communicate proactively: If you're having issues, don't ignore them. Reach out to the FTB. 7. Know your rights: Familiarize yourself with the Taxpayers' Bill of Rights. 8. Plan for taxes: Set aside money throughout the year so you're not caught off guard. Remember, dealing with taxes is part of running a business. Stay calm, be proactive, and don't hesitate to ask for help when needed.

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Wow, this is incredibly helpful! Thank you so much for taking the time to write this out. 🙏

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Great advice! I'd add: keep an eye on legislative changes. Tax laws can change, and it's important to stay updated.

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Am I the only one who thinks the whole system is rigged against small businesses? 😤 It's like they WANT us to fail!

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Preach! 🙌 Sometimes it feels like we're just here to fund the government's pet projects.

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C'mon guys, it's not that bad. Yeah, it's complicated, but there are resources out there to help. We just gotta learn the ropes.

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Pro tip: If you're having trouble understanding something, don't be afraid to call and ask for clarification. I've found most FTB employees are actually pretty helpful if you're polite.

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Anyone else feel like they need a law degree just to run a small business these days? lol

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For real tho 😂 Between taxes, regulations, and all the paperwork, it's like a full-time job just staying compliant!

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