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California Bookkeeping

Property Management Bookkeeping in California

Owner funds are not your funds, and the books have to prove it.

Call (310) 800-4494Book a Free Consultation

Remote bookkeeping — monthly close, cleanup, and books ready for your CPA.

California taxes through the California Department of Tax and Fee Administration (CDTFA) at a 7.25% statewide base rate, with local rates stacking on top and economic nexus for remote sellers at $500,000 in sales. Filing runs quarterly by default, with prepayments at higher volumes. California has no annual bracket, so even a small operation files at least quarterly and the liability account has to stay current year-round.

Employer registration runs through the California Employment Development Department (EDD), and the entity is registered with the California Secretary of State. Highest statewide base rate in the country, and district taxes stack on top. LLCs also owe the $800 annual franchise tax to the Franchise Tax Board regardless of income.

At a glance

Sales tax authority

California Department of Tax and Fee Administration (CDTFA) — 7.25% statewide base rate

Economic nexus

$500,000 in sales

Filing cadence

Quarterly by default, with prepayments at higher volumes

Employer registration

California Employment Development Department (EDD)

Entity registration

California Secretary of State

Owner and trust funds in California

Money held for owners in California is not your money, and California sets its own rules — through state law and the California Secretary of State-registered licensing regime — on how those funds are held, how often they are reconciled, and what records must exist. We keep the trust ledger reconciled to the bank with owner-level detail behind every balance; whether that satisfies California's specific requirement is a determination for you and your attorney, not us.

Security deposits in California

Security deposits in California are a liability, not income. California caps a residential deposit at one month's rent, and requires you to return or account for it within 21 days of move-out. That deadline is why the ledger has to be per-tenant rather than one pooled balance — a pooled figure cannot answer "what is owed to this tenant, and by when," which is the only question that matters when a deposit is disputed.

Registering to do business in California

Registering to do business in California runs through the California Secretary of State, with tax accounts through the California Department of Tax and Fee Administration (CDTFA) and employer accounts through the California Employment Development Department (EDD). California treats these as wholly independent, so being in good standing with one says nothing about the others — and the sales tax account is the one that accrues a real balance while you are not looking.

California rates and sourcing

The California statewide base rate is 7.25%. That is among the highest state rates in the country before a single local rate is added, which makes a miscoded category expensive per transaction rather than merely untidy. Sourcing is where this is won or lost, and with economic nexus set at $500,000 in sales, it becomes your problem the moment that threshold is crossed.

We keep the books. You run the business.

Categorization, reconciliation, month-end close, and clean financial statements — with nothing left for you to chase.

Call (310) 800-4494Book a Free Consultation
View pricing

How It Works

1

Free review

We check where your property management books stand and whether California activity has crossed $500,000 in sales.

2

Register what is needed

Accounts set up with the California Department of Tax and Fee Administration (CDTFA), plus the California Employment Development Department (EDD) if you have employees here.

3

Catch up

Back periods cleaned up at a fixed quoted price, including any California liability that was collected but never reconciled.

4

Close on cadence

Monthly close worked backward from your California due dates — quarterly by default, with prepayments at higher volumes.

Property Management Bookkeeping in California — Frequently Asked Questions

Do property management need to register for sales tax in California?

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If you cross $500,000 in sales, California generally expects you to register with the California Department of Tax and Fee Administration (CDTFA) and begin collecting. Physical presence also creates an obligation. We track your California activity against the threshold and flag it as you approach — whether to register, and how to handle any prior period, is a decision to make with your CPA or a tax professional.

How often do property management file in California?

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California sets it by liability — quarterly by default, with prepayments at higher volumes — and moves you between brackets as volume changes, so it is worth confirming each year rather than assuming. We close the month against the California Department of Tax and Fee Administration (CDTFA) calendar you are actually on.

Which California agencies do property management deal with?

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Three: the California Department of Tax and Fee Administration (CDTFA) for sales tax, the California Employment Development Department (EDD) for employer registration and unemployment, and the California Secretary of State for the entity itself. Separate account numbers, separate portals, separate deadlines — and a notice from one tells you nothing about your standing with the other two.

Do property management pay California state income tax?

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California does levy a state income tax, so there is a state return in addition to the federal one. We keep the books that those filings are built from and hand them to your CPA or tax preparer reconciled; we do not prepare or file income tax returns ourselves.

How should California security deposits appear in the books?

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As a liability, never as income. California caps deposits at 1 month rent and requires return within 21 days of move-out, with deductions itemized. Deposits recorded as revenue overstate income and leave nothing to return from, which is the single most common error we correct on these books.

Do you prepare income tax returns for property management?

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No. We are a bookkeeping firm, not a licensed CPA firm or a registered tax preparer, and we do not prepare or file income tax returns. We prepare and file sales and city tax returns and 1099 information returns, which are bookkeeping functions, and we hand off clean reconciled books to your CPA or tax preparer for anything income-tax related.

Related

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Property Management bookkeeping in California

Book a free consultation. We will check where your books stand and whether your California activity has crossed $500,000 in sales.

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  • Done-for-you
  • Solo or group
  • Nationwide

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