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.
374
questions
2
votes
2
answers
273
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 ...
1
vote
1
answer
80
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 ...
- 11
6
votes
2
answers
2k
views
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 ...
- 3,118
2
votes
1
answer
81
views
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 (...
- 21
5
votes
1
answer
2k
views
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 ...
- 660
1
vote
1
answer
70
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 ...
- 197
0
votes
1
answer
33
views
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 ...
- 429
3
votes
2
answers
656
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 ...
- 143
2
votes
2
answers
411
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 ...
- 429
10
votes
9
answers
15k
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 ...
- 227
2
votes
1
answer
119
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), ...
0
votes
1
answer
60
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 ...
- 660
1
vote
0
answers
112
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, ...
- 269
-3
votes
1
answer
150
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 ...
- 11.2k
1
vote
1
answer
122
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 ...
- 113
0
votes
1
answer
14
views
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?
- 103
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 ...
- 151
-1
votes
1
answer
63
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 ...
- 11.2k
0
votes
1
answer
139
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 ...
- 111
4
votes
1
answer
52
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 ...
- 363
0
votes
1
answer
221
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 ...
1
vote
1
answer
56
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?
- 140
0
votes
2
answers
327
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 ...
1
vote
1
answer
92
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 ...
- 265
2
votes
2
answers
504
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 ...
- 501
0
votes
1
answer
181
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 ...
- 1,411
1
vote
1
answer
107
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 ...
- 29.4k
4
votes
1
answer
185
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 ...
- 299
9
votes
5
answers
3k
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 ...
- 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.
...
0
votes
1
answer
57
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 ...
- 101
2
votes
0
answers
122
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 ...
- 219
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 ...
1
vote
1
answer
69
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 ...
- 121
1
vote
1
answer
166
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 ...
- 531
1
vote
1
answer
89
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, ...
- 11
2
votes
1
answer
2k
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 ...
- 23
0
votes
2
answers
169
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 ...
- 140
-2
votes
1
answer
103
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 ...
- 140
4
votes
2
answers
82
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 ...
- 41
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....
- 11.2k
0
votes
1
answer
201
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 ...
Dave Watro
0
votes
1
answer
164
views
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 ...
- 1,926
0
votes
1
answer
145
views
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 ...
- 502
10
votes
2
answers
354
views
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 ...
- 499
2
votes
1
answer
424
views
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 ...
- 21
2
votes
2
answers
182
views
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 ...
- 45
1
vote
1
answer
92
views
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 ...
- 13
4
votes
1
answer
361
views
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 ...
- 171
0
votes
1
answer
113
views
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 ...
- 11