Calculating the California Franchise Tax Board Withholding
Topic: Calculating the CA FTB Withholding Intended Audience: California property managers that support out of state owners. Description: This video describes the process to activate the CA FTB feature, report on the data, journal entry the funds, and pay the CA FTB. Click here to view the video.
- How do I withhold funds for the CA Franchise Tax Board?
Feature Description Propertyware offers a feature that can be activated to calculate the withholding. The calculations occur at the building level so the feature would need to be activated for every building that met the requirements for the withholding. The Chart of Accounts will als ...
- What is the California Franchise Tax Board Withholding?
The California Franchise Tax Board (FTB) has created a withholding requirement for all property management companies paying rent to out of state owners. Property management companies will be responsible for withholding 7% of the gross rent payments made to out of state owners. Then, on a quart ...
- Handle Section 8 Payments in Propertyware?
Propertyware provides you the flexibility to handle Section 8 payments for multiple tenants. You will first need to configure your Propertyware account for Section 8 payments, following the steps outlined below. After completing this one-time setup, you will be able to create the Section 8 ...
- Update Company Name within Propertware
If your company name changes and you want to reflect the new name within Propertyware, you will need to update your company name in several locations. Note that some of these changes can only be done by users with administrative rights. The following information needs to be updated under S ...
- Transfer Misapplied Security Deposit to Correct Tenant
Situation this applies to: A security deposit payment was applied to the incorrect tenant ledger and needs to be transferred to the correct tenant ledger. Scenario You received a $500 check from your new tenant, Mike Madison, for the payment of his security deposit. When the payment ...
- Refund Security Deposit after the Deposit Had Been Forfeit
Situation this applies to: An applicant pays a security deposit to hold a unit and cancels after the deposit has been forfeit in Propertyware. Scenario Jennifer James is interested in renting a unit from you. She pays $500 in security deposit. You create a Draft Lease in Propertyware ...
- Refund a Credit for Tenant after Move-out Has Been Completed
Situation this applies to: Charges were applied against tenant’s security deposit at the time of move-out and you now need to refund this amount to the tenant. Scenario You issued a refund to your former tenant, Bonnie Black, for her security deposit that was $200 less than wha ...
- Forfeit Security Deposit for Cancelled Applicant
Situation this applies to: An applicant pays a security deposit to hold a unit and cancels after the 72-hour “cooling-off” period and you decide to retain the security deposit. Scenario Jennifer James is interested in renting a unit from you. She pays $500 in security de ...
