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It is about single entity LLC tax for state of california

Can you help me? JA: The...
It is about single entity LLC tax for state of california Can you help me?
JA: The Accountant will know how to help. Please tell me more, so we can help you best.
Customer: I received letter for FTB. I thought I filed everything. So want to talk to someone to know exactly what are all that I need to file.
JA: Is there anything else important you think the Accountant should know?
Customer: not right now How does this work?
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Answered in 14 minutes by:
5/7/2017
Matthew Breecher
Matthew Breecher, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 286
Experience: Director
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Hello, my name is***** am a CPA and assist clients compliance issues. Could you please expand on your question?

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Specifically, what did the letter from the Franchise Tax Board communicate?

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Customer reply replied 7 months ago
Hi I received a later requesting me to file Form 568.
I thought for single entity LLC, I would just need to file under my personal tax return.

It depends on how you elected to be treated: as a partnership or disregarded entity. California Form 568 or 565 must be filed by the 15th day of the 4th month after the close of the LLC’s taxable year.

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If you want to be treated as a disregarded entity and report all information on your person tax return on Schedule C, you still need to file FTB California Form 568, Sides 1, 2, 3, 7 and Schedules B and K if applicable, see California Form 568 Booklet for more information; and, pay the $800 fee.

Matthew Breecher
Matthew Breecher, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 286
Experience: Director
Verified
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Chad CFP ®
Chad CFP ®, Certified Financial Planner(R), Pro
Category: Tax
Satisfied Customers: 872
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Phone call session started

We can still do a phone call, but the issue is pretty simple and the additional cost might not be justified.

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Matthew Breecher
Matthew Breecher
Matthew Breecher, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 286
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