California Small Business Taxes 101 - California Self Employed Sole Proprietor and LLC Taxes

California small business owners must know all forms of taxes they must pay in order to be self employed and operate a business legally. Here is your no BS explanation of the six types of taxes you could expect to pay - including unsecured property tax, business tax certificate, sales tax, income tax, LLC tax, and self employment tax. Please note I am not a CPA nor a tax professional - please contact your CPA to ensure you are filing all necessary taxes.

0:00 Intro
0:10 Business Tax Certificate
0:40 Sales tax
1:36 Income taxes
2:04 Self Employment tax
2:37 Estimated taxes
3:27 Unsecured property taxes
4:01 WHOOPS I made this mistake in my business
4:36 LLC Tax

INSTANT ACCESS tools that grow your business:

Must-Have Business Tools
Please note that links to the websites below are for products and services I use, love, and trust. They are affiliate links which means I will receive a small commission when links are used to purchase an item.

KAJABI – 30 days FREE
Create your website, ecourses, mailing list, opt-ins, podcast, and more

INCFILE - Form your LLC for $0

GUSTO – The best all-in-one payroll software to hire, pay, and stay compliant (get $100 with this link)

DISCLAIMER:
Ginny Silver and Retrospect Images, LLC provides content to Youtube for entertainment purposes only. It is the responsibility of the viewer to verify all information as information may be inaccurate or outdated. Ginny Silver is not a CPA, attorney, insurance agent, lender, EDD or other government employee, or financial advisor and content in these videos shall not be construed as legal, financial, tax, government, or other advice. You are urged to contact a certified professional to help your individual needs.

[ginnysilver]

0:00 Intro
0:10 Business Tax Certificate
0:40 Sales tax
1:36 Income taxes
2:04 Self Employment tax
2:37 Estimated taxes
3:27 Unsecured property taxes
4:01 WHOOPS I made this mistake in my business
4:36 LLC Tax

More info on...

[FuryVoxx]

Just a random heads up. I called my local office and let them know that it was illegal to re-tax personal property of already taxed tangible goods that somebody already has bought and paid for in full... They agreed and they stopped sending out unsecured property tax paperwork to me, in California. It's also illegal to tax a service and to tax someone's labor. I also asked the "Federal" tax bureau to send me a copy of the Law even though it was not ratified in the year 1919 and they will not respond to any of my letters. I had all the mail duplicated stamped sent to a lawyer and also sent through A notary public as well just for good measure. On the other hand sales tax is not illegal and states do completely have the right to tax items for sale, the reason is because if you do not agree with that tax level you can simply not buy the product. If all these taxes were completely legitimate we would basically be living in a more modern version of slavery this would equate to a huge percentage of your labor/income. Not trying to step on your toes just throwing out a little information that I've learned through time while doing business for about 30 years. 👍😁✌ Also you may go into this more in detail on other videos I'm not sure this is the first video I saw of yours but it might be good for business people also to know that if they're selling to people that are going to be reselling products they do not have to collect tax for the state. For instance I was a screen printer a long time ago and many of the bands and businesses were going to be reselling the garments that we created so we legally did not have to collect tax from them to give to the state it was up to them call my they just have to show you a copy of there Wholesale permit or give you a tax license or tax ID. 👍

[bonnietone]

Taxes, taxes, taxes. 💸💸💸
Thanks for the info, Ginny. 💚

[xyu]

thanks for the info. I am having to pay CA franchaise during the 3 years of pendanmic, which there is no business. I wanted to know how to pay back the taxes. Thanks

[DivineGraceCorcio]

How about service based business do I need to do sales report?

[whoisharo]

Youre the best! Also, please do a vid on copyrights/plagiarism! Too many people steal my art!

[AC-qklk]

Hello do you talk about e-commerce taxes in California, from Federal, State, City, and sales taxes, am I missing something.. so ridiculous lol too many taxes

[debbiehall]

New desk perch!....evolution is happening....looks nice.

[eylsnokissile]

Awesome video, thank you so much!!
With regards to the "Unsecured Property Tax" - let's say you only have literally less than a handful of such taxable property - a smartphone, and a printer for example. Would they be repeatedly taxed, year after year?
I'm in California, Nevada County, and I got a form in the mail from the county requesting declaration of my biz equipment, how much each item cost, etc.

I was shocked AND pissed. I mean, I purchase these items, I ALREADY paid sales tax for them, and then the county has the audacity to tax them AGAIN, pay MORE tax for incredible.

Yep, over-tax and screw all of us "peasant" small biz owners, so that the likes of Bill Gates, Elon Musk, Jeff Bezos, etc, etc pay little to nothing in taxes - hence the rich get richer while the rest of us become poorer and poorer.

[cskgaming]

How much taxes do someone have to pay who runs a marketing agency and lives in california?

[snoope]

Can you make a video on how to start a YouTube channel? 🫠