What are you folks planning to use for California Taxes, guidebooks, etc. In the past, I have tried CCH and Spidell. I am leaning toward Spidell again this year, but wondering if there is something else out there. I know RIA has a handbook also, but have not seen it.
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All-States Edition?
Hyatt, you might consider TTB All-States Edition for a low-cost alternative to those you mention. It is no secret that I am a big supporter of TTB, but I believe my opinions are objective.
I practice in Tennessee, a long, narrow state which at no point more than 50 miles from a neighboring state. TN is also the nation's most contiguous state, with 8 neighbors. So I purchase the all-states edition every 2 years or thereabouts. I do not have a year where I prepare less than 9-10 state returns. I also have one customer who must file in four different states.
I believe the principal writer for their state book actually became indoctrinated to many states when she filed returns for professional athletes. These athletes make so much money in a single game that they must file in every state for which they played a game.
I'm sure there is a healthy presentation of California taxes for individuals and non-residents who must file in your state. I know the California section is much larger than those for many other states. A couple friends of mine who practice in California say their state taxes are quite complex. -
Have considered
the all-states book, but didn't think it would contain enough detail for California. Even with those other books I mentioned, one might go into detail on a subject where the other one might just make a fairly quick mention of it. Just how in depth is the coverage for California? Does it go into depreciation differences, all the income differences, etc.Comment
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Don't Know
Hyatt, don't know how much detail you need. The book works fine for me, having 10-11 states to file every year. For example, most of the states I file did not allow the "bonus" depreciation of a few years ago, and some of them do not allow section 179 expensing.
The product is a 500-600 page book with all the states except those who have no tax. You can conclude that not every nuance in every single state can be covered. The result of this would be a 5,000 page book and defeat its purpose. The conception of covering every state in a 500-page book might not, by design, afford heavy-down-to-the-bottom detail if that's what you need. For its cost, it is perfect for me to file 10-11 states annually.Comment
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The 2006 version of TTB was about 550 pages. The tab on CA was 18 pages.
An excerpt from page CA-4 gives you an idea of how it summarizes the CA individual instruction booklet:
As you can see, it doesn't go into great detail, but it does alert an out of state tax preparer to the kinds of things that may need additional research if you are preparing a CA return for a client when you are located in a different state.Business Adjustments
The following addition or subtraction adjustments to federal
business, rental real estate, royalties, partnerships, S corporations,
and trust income or loss may be necessary:
• Although federal law increased the Section 179 deduction to
$108,000 in 2006, the California Section 179 limit is $25,000.
• California does not follow the federal special 30% or 50%
special first year depreciation allowance.
• California does not allow the 15-year recovery period of depreciation
for leasehold improvements and restaurant property
acquired before January 1, 2006.
• Prior to January 1, 1987, California did not allow depreciation
under ACRS.
• On or after January 1, 1987, California allows special credits
and accelerated write-offs that affect the California basis of
qualifying assets.
• Adjustments may be required for employer-paid child care
programs and plans.
• Adjustments may be required for disabled access credits and
deduction type expenses.
• Adjustments may be required for research and experimental
expenditures.
• Adjustments may be required for employer wage expense for
the Work Opportunity Credit and Welfare-to-Work credit.
• California does not conform to federal law for material participation
in rental real estate activities.
• Adjustments may be required for passive losses.
• Other adjustments. See Schedule CA (540) instructions.Comment
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TTB and its rivals' all states editions are good for a general overview, but I've found for depth, I often review a state's instructions or other info after I've gotten the general overview from TTB. If you are a CA preparer and do any kind of complex returns or business returns, the TTB info is not going to be enough. I buy Spidell most years, especially if there has been major changes (think domestic partners this year!) in tax law. I like Spidell simply because all they do is CA tax, and think they provide the most in depth info. And the big print is nice too!Comment
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