Questions tagged [california]

for questions that relate to the laws, practices, and products for the state of California. California is a state within the 50 state union of the United States.

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Should I convert my rental unit into an LLC for tax purposes?

I have a rental unit (condo). I would like to know if it's better to just keep it as a rental unit or put it under an LLC and if the tax implications change? Currently, it's fully a rental unit (owner ...
Jonathan's user avatar
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1 answer
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Calculating non-exempt interest for California income tax

This question is about how California taxes interest on municipal bonds that are exempt from federal income tax. I live in California. In 2023 year I received tax-exempt interest from a variety of ...
octern's user avatar
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2 answers
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Tax implication – Working for California Employer for 2 months from Washington state?

Moved to Washington (from California) in November, while continued to work for CA employer until mid-March. Payroll was switched to Washington state mid-March. As I understand, California taxes will ...
Yugal Jindle's user avatar
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28 views

Medi-Cal eligibility for parent

If I claim my mother as a dependent will that affect her eligibility for Medi-Cal? She lives with me and I pay all of the expenses.
Liza Beth's user avatar
2 votes
1 answer
52 views

Are there overall limits to de minimis safe harbor expenses?

I have a short term rental property in California, USA. In 2023 I made multiple independent updates such as new appliances, entertainment equipment, furniture. Each of these are individually invoiced ...
Matthew's user avatar
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2 votes
1 answer
169 views

Reimbursed for moving expenses -- how does that work on taxes?

I moved from AL to CA and my employer reimbursed me up to a certain amount and I paid taxes on the reimbursement amount as well from my paycheck. So wanted to know if that's something I can claim ...
Tan's user avatar
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1 answer
136 views

Moved from CA to WA, will CA refund me all the withheld payroll taxes?

Moved to WA on Mar-end, and my last paycheck from CA was received on mid-Mar. As a result, I've received 2 x W2s. One for CA income, and the other for WA income. As far as I understand, given I spent ...
Yugal Jindle's user avatar
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1 answer
83 views

Should I file taxes if I opened Amazon seller account but never used it?

Me and my husband entered the US with F1(him) and F2(me) visas. He was a fully funded PhD student and we used to send our tax papers jointly. Last year we filed for EB2-NIW visa to get a Green Card, ...
best_of_man's user avatar
2 votes
2 answers
306 views

Co-signer or Buyer that is the question [duplicate]

My stepmother asked me to co-sign on a brand new car. I did it because I felt obligated. When we got to the dealership they said her credit was so messed up to get the car I had to be the primary and ...
Tatiana Loving's user avatar
1 vote
1 answer
112 views

Retroactive property valuation

We bought a new house in a new housing development. This was Phase I. The house was $300K when we bought it in 2018. Taxes were paid based on that value. In 2021, the county has said that they ...
RS401's user avatar
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6 votes
2 answers
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Can I expense guest amenities for my AirBnB?

I own an AirBnB in California. This is a standalone house, I do not live there. In the course of operating it we furnish amenities such as Roku devices, or Foosball tables, or BluRay discs. Can these ...
Matthew's user avatar
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1 answer
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Does temporary lodging qualify as a moving expense for California tax deduction?

Does anyone have a detailed source for what qualifies as a moving expense for California state tax purposes? I moved to California from outside the US and when I arrived I stayed in temporary lodging (...
Tabby's user avatar
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5 votes
1 answer
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Am I considered a non-resident of California?

I need help in determining if I qualify as a non-resident in the state of California: I physically work in an office in CA It is a W2 job My primary domicile is outside of CA I spend more than half ...
James Wierzba's user avatar
1 vote
1 answer
105 views

Can a non-refundable tax credit be used to negate an early withdraw penalty from Traditional IRA?

I'm considering buying a new electric vehicle which would qualify for the US Federal Clean Vehicle Tax Credit. In theory, I could be eligible for up to a $7500 tax credit. My current paycheck tax ...
Mike B's user avatar
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1 answer
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ongoing tax implications of 1031 exchange out of California

I'm considering a 1031 exchange of a rental property to a different property out of California. I assume that I will owe tax to California if I sell the property after the 1031. But will I have to do ...
fox's user avatar
  • 429
3 votes
2 answers
795 views

Is it correct to charge sales tax on fee imposed by car-rental company?

On what amount should local and state taxes be computed, on the base rental price alone or after having added to it all the rental company-imposed fees? In other words, does one need to pay taxes on ...
MarcoD's user avatar
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2 votes
2 answers
417 views

How to evaluate options for selling a rental property

I own inherited rental property in the San Francisco Bay Area, and have been thinking about doing a 1031 exchange into Chicago, where I now live, for a few main reasons. One, I inherited the property ...
fox's user avatar
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10 votes
9 answers
19k views

What's the cheapest way to buy out a sibling's share of our parents house if I have no cash and want to pay less than the appraised value?

My mother passed away, leaving 75% of her house to me and 25% to my sister, setting this up as a trust. The house was appraised at $944K, based on the time of my mother's death (November 2022). I want ...
user1186050's user avatar
2 votes
1 answer
125 views

If you make a certain amount of money, is inflation less of a factor when seeking a raise

My background: I'm 32 Live in California (US) I make $25/hr I'm married (spouse brings in income as well) At my current job I have usually received good raises percentage wise (~8-10% each time), ...
Josh Drentlaw's user avatar
0 votes
1 answer
146 views

Do employers in CA submit the DE4 form to the state?

The DE 4 is used to compute the amount of taxes to be withheld from your wages, by your employer, to accurately reflect your state tax withholding obligation. My question is, do employers simply use ...
James Wierzba's user avatar
1 vote
0 answers
141 views

California won't reissue stimulus check

A family member, a resident of California, received a Golden State Stimulus check in 2021. There was a problem and he wrote "Void" on the check. As per the instructions on the state website, ...
Shawn V. Wilson's user avatar
-3 votes
1 answer
209 views

What are the pros and cons, if any, of selling my WA-registered car in California as a Washington state resident?

I am a Washington state resident. I have a car registered in Washington state. I may have to drive down to California (Bay Area or Los Angeles). However, on the way back to Washington state, I can ...
Franck Dernoncourt's user avatar
1 vote
1 answer
144 views

Does providing IT services to a company in California from another state constitutes doing business in CA?

We provide IT services remotely to a small business in CA from another state. Does this mean we are doing business in California? According to the California Franchise Tax Board (CFTB)'s Doing ...
toraritte's user avatar
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1 answer
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What tax forms are required for solo S corps in California?

The FTB site only lists Form 100S as required filing. However, the EDD site also lists DE 34, DE 9, and DE 88. Are these forms necessary for the solo owner-employee?
llllvvuu's user avatar
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4 votes
1 answer
218 views

Is the CA Middle Class Tax Refund (MCTR) taxable?

Seems to be some confusion whether federal taxes are due. I did receive a form 1099-MISC from CA. FreeTaxUSA says it's exempt from CA taxes but federal is due, while TurboTax says it's exempt from ...
Dandan's user avatar
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-1 votes
1 answer
113 views

Taxation on Annual Incentive Plan bonus after relocation to a different US state

Each year, Bob, a US tax resident, receives some money in February from his employer in the US as his Annual Incentive Plan bonus. During the year 2022, Bob relocated from California to Washington ...
Franck Dernoncourt's user avatar
0 votes
1 answer
164 views

Does American digital nomad qualify for California Safe Harbor?

Do I qualify for California Safe Harbor exemption? I'm technically domiciled in California (I have a CA driver's license and a mailing address for banks, etc), but haven't been physically present in ...
will_durant's user avatar
4 votes
1 answer
60 views

Sales tax on inventory consumed during R&D

I'm considering setting up a sole proprietorship to sell kits (electronics and crafting) that I design. It's my understanding that, in most cases, I would be able to get a exemption certificate that ...
Adrian McCarthy's user avatar
0 votes
1 answer
242 views

Do I have any recourse if I was pressured into a car lease?

We thought our lease was due at the 3 year mark. We contacted a dealer and the pressure sales was pushed strong. In less than 2 days they found a car that was similar, but newer. They stated that ...
Leshea Nock's user avatar
1 vote
1 answer
63 views

Is there any official/governmental website for cost of living in the US cities? [closed]

I am looking for a website that I can find cost of living in my city in California and refrence to it in my official claim. Is there any one?
GoodMan's user avatar
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2 answers
336 views

Should I buy a 23k hyundai elantra at 18?

With the car market being so insane right now it’s hard to find a car worth spending my money on. I live in LA so that’s probably making it worse, but I chose to go to a community college for 2 years ...
Hannah De La Cruz's user avatar
1 vote
1 answer
97 views

Any factors I should consider when choosing between car insurance companies besides price and coverage?

Any factors I should consider when choosing between car insurance companies besides price and coverage? I've heard people mention company reputation to see how likely they are to pay claims without ...
roobee's user avatar
  • 265
2 votes
2 answers
3k views

Itemizing property tax deduction on California state taxes?

I'm trying to understand if in California you are limited to the same $10k federal limit on property tax deduction. The only CA government info I can find is here Line 5e The federal deduction for ...
Daniel Jacobson's user avatar
0 votes
1 answer
291 views

Schedule CA 540 Part I Section A: what role do the little 'a' rows serve?

I'm a bit baffled looking at the Schedule CA 540 form in its Part I Section A set of rows. There's the rows that form the matrix against the various major columns A, B and C, but there's also this set ...
jxramos's user avatar
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1 vote
1 answer
166 views

How to attach amended federal tax return to fresh California tax return?

California income tax (paper Form 540) requires attaching a copy of the taxpayer's federal return. If, when filing a given year's California Form 540 for the first time (not amended), the federal ...
nanoman's user avatar
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4 votes
1 answer
192 views

Does California double-tax the portion of incentive stock options which are subject to AMT?

Consider the following scenario: In 2020, Alice vests and exercises ISOs at $1 strike price, $3 FMV. Under California AMT, she generates $2/share of gain. Alice exercises enough shares to owe a ...
Kevin Chen's user avatar
9 votes
5 answers
4k views

Understanding underpayment penalty: implications and how to avoid it in the future

Here is a small explanation of my situation which I hope will help to understand my question: I am a full time employee who lives in California. Each year I get a W2 from my employee and 1099 from my ...
random's user avatar
  • 691
1 vote
1 answer
95 views

Cell Tower Rental Fees Transfer to New Home Community

I am about to move into a new home community that has a cell tower placed prior to the land being acquired for homebuilding. In its previous life, this piece of land was owned by a non-profit. ...
Concerned_Citizen's user avatar
0 votes
1 answer
77 views

International Non-Resident Spouse CA Tax Filing and Community Income

Indian citizen working and living in California since 2019 and considered a CA resident for tax purposes. Got married in Nov 2021 to my wife who lives in India. She did not join me in the US in 2021 ...
Kevin's user avatar
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2 votes
0 answers
181 views

How to calculate or define moving expenses for California resident tax deduction?

Situation: I meet the distance & time test for California Moving Expenses Deduction. Move was within California, in 2021. Single person household. The distance one way is 181 miles, using own ...
DavChana's user avatar
  • 218
16 votes
5 answers
8k views

Is it typical to start charging HOA fees before a community is fully built?

I am currently in the process of buying a home at a new community. My home is part of phase 1 out of 4 phases and will be ready for move-in prior to the completion of the entire community. But the ...
Concerned_Citizen's user avatar
1 vote
1 answer
90 views

Mella Roos Disclosure Requirements (California)

I live in Washington State and I’m in the process of helping my mom purchase a home (I’m paying, but she will be living in it). Given the competitive market, we recently put in a non-contingent offer ...
Andrew Jordane's user avatar
1 vote
1 answer
284 views

Do you qualify for Medi-Cal if you are wealthy and just don't work?

If I'm reading the descriptions of Medi-Cal correctly, low income alone is enough to qualify you for free medical coverage. So, if you are taking a sabbatical, working on your own startup (that isn't ...
MWB's user avatar
  • 541
1 vote
1 answer
90 views

Can being categorized as a "US resident" by the bank make me a tax resident in CA or US?

According to IRS, I was never a US tax resident. But there is a US bank that thinks I'm a resident in the US. I didn't update my info after leaving. I did fill out W8. I also filled out after leaving, ...
user113324's user avatar
2 votes
1 answer
3k views

Splitting equity among domestic partners when one partner pays the full downpayment

My partner and I are looking to buy a home together in California and set up a contract for splitting the equity. I would pay the 20% downpayment on my own, and thereafter my partner and I would split ...
S L's user avatar
  • 23
0 votes
2 answers
187 views

How is it possible for an F-1/F-2 visa holder establish a company in the US?

If someone with the F-1(student) or the F-2(Student's dependent) visa is in the US. how can he establish a company in the US? Can he do it standalone(I mean register a company with his own with no ...
GoodMan's user avatar
  • 140
-2 votes
1 answer
105 views

Are businesses required to pay more than a specified minimum wage in respect to each job title in US? [closed]

Are there any laws about the businesses that mandates them to pay at least a minimum specified wage to their employees? I mean something like: A CEO should at least has $5k/month, or an engineer ...
GoodMan's user avatar
  • 140
4 votes
2 answers
84 views

Should I realize short term gains to make use of short term losses or offset against long term gains?

Similar to this question, but I’m trying to understand the strategic value of using ST losses. I currently have -$20k in ST losses and +$100k in LT gains. Per my math, if I use it against +$20k in ST ...
Tax saver's user avatar
1 vote
1 answer
85 views

Can a US LPR who changed their residency from California to Washington between Nov 2021 and summer 2022 opt ​out of the Washington long-term-care tax?

Can a US lawful permanent resident who changed their residency from California to Washington state between November 2021 and summer 2022 opt out of the newly established long-term-care payroll tax? E....
Franck Dernoncourt's user avatar
0 votes
1 answer
223 views

I have 5 cars and two drivers, can I cover one car with high liability and the rest with the minimum? California

We are family with lots of cars, 5 and only two drivers. We switch off depending on what we are doing. Commuting, I drive my 2 seater and wife drives her suv. Family outing we take our big sedan, trip ...
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