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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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 ...
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1
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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), ...
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1
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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 ...
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0
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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, ...
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1
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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 ...
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1
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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 ...
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1
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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?
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4
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1
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212
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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 ...
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1
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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 ...
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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 ...
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1
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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 ...
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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 ...
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1
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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?
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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 ...
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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 ...
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2
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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 ...
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1
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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 ...
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1
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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 ...
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1
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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 ...
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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 ...
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1
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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.
...
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1
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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 ...
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0
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112
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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 ...
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5
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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 ...
1
vote
1
answer
59
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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 ...
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1
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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 ...
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1
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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, ...
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2
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1
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683
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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 ...
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2
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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 ...
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1
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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 ...
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2
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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 ...
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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....
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1
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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 ...
Dave Watro
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1
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Will stock options continue to vest if an employee goes into State Disability Insurance (SDI)?
If an employee in a publicly traded company needs to go on SDI (to get treatment) will the employee continue to vest options (ISOs, RSUs)? Is SDI like a sabbatical from a company's perspective where ...
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1
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121
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purchasing a car with a trial period
A stranger is selling their car for $5000 and I like it for that price.
But, instead of a straight purchase, I want to arrange a deal in which
I pay $5000 in full now (without any loans) but can ...
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10
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2
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320
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What do I do after requesting and receiving a debt validation letter for a medical debt I don't recognize?
I received a debt collection call a few months ago from a professional debt collector for a debt I didn't recognize, followed by a written notice. I wrote back that I dispute the debt and requested ...
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1
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What should my state tax withholdings be? I live in VA and work remotely for a CA company
I work remotely for a company in California, but I'm a Virginia resident 100% of the time. This is my first year working for this company. Last year, I claimed 1 exemption on my VA taxes (myself).
For ...
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2
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146
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Is the donation of billable or paid time of a contractor or employee tax-deductible?
In California, USA, for federal and state taxes, are services performed by a paid employee or contractor (who receives compensation for that time from the company as regular/overtime wages/salary or ...
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How to respond to CA 2020 tax penalty notice? I forgot to indicate I had health coverage
I received this mail yesterday:
PICTURE OF MAIL
I am a student with F1 visa status and filed both federal and state taxes for 2019 and 2020. I do have an external scholarship that includes a very good ...
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1
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Why did I receive tax penalty on paid family leave from the California tax board?
I just received a notice from California tax board that says I owe state tax on the deduction I claimed in 2017 for paid family leave. This was filed through turbotax so I assumed it was accurate. I ...
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Which mailing address to use for disputing a California Franchise Tax Board 5818 Notice?
I just got an FTB 5818 Notice saying that I don't have Health Insurance.
I am planning to dispute it by sending in my 1095-B.
Question: Which mailing address should I be using:
Franchise Tax Board
PO ...
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3
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385
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After paying off your home, could you sell it to a confidant for $1, then buy it back for $1 in order to get lower property taxes in CA?
In California, property taxes are based upon the price that you paid for your home. Would it be legal, or even feasible, that when you finally pay off your mortgage, that you sell your home to a ...
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2
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Can I protect jointly owned assets from my spouse's professional liability? [closed]
My wife is a medical resident. She regularly makes complex decisions that could kill someone while she is chronically sleep deprived. Obviously, this is dangerous, but it's a nationwide problem that I ...
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0
answers
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Are state disability benefits taxable in tax year when you were eligible for them, or approved for them, or when benefits were actually paid?
Imagine that someone gave birth on November 5th, 2020. California allows moms to take off up to 8 weeks of disability insurance benefits.
Are such state disability insurance benefits taxable in 1) tax ...
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1
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What re the federal and Calif. solar tax credits or deductions for a solar power systems and batteries purchased in California in year 2019 and 2021?
Bought a new solar power system for my primary residence for $65k in July 2019.
Then moved this year and bought a $90k system Nov 2021.
I'm using Turbo Tax.
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1
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Webpay for CA tax return not allowed owing to absence of previous records
I want to pay to CA state through web pay my tax due for 2020, but I am not allowed to register because I don't have a previous tax return. I am filing as non-resident alien. How can I make this ...
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1
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153
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Clarification regarding CA source income for non-resident
I am filing taxes for 2020 as CA non-resident because I have provided a CA address on my US trading account. I have foreign earned income, foreign interest, dividends from the trading account, and US ...
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Can one qualify for the Young Child Tax Credit if they don't qualify for the Earned Income Tax Credit
In USA California State income tax if one knows they don't qualify for the Earned Income Credit (EITC) can they also deduce that they are also not eligible for the Young Child Tax Credit (YCTC)?
...
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2
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1
answer
115
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Transfer 529 Funds from Child's Account to Pay Parent's Existing Student Loans?
We have been saving a little every month into our daughter's 529 account since she was born. She is now 10 years old, and the account balance is about $25,000. We intend to continue to make regular ...
2
votes
1
answer
463
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Itemizing charitable deductions on California taxes while taking standard deduction + 2020 charitable deduction on federal taxes
This question is pretty specific, but it's worth a try. Apologies in advance for the length; I'm aiming to be as clear as possible.
In 2020, as a provision of the CARES Act, it is possible to take the ...
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