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Recent Effective Tax Rate questions

I am a Non-Resident of CA. I own and rent out real property

I am a Non-Resident of CA. I own and rent out real property in CA. On my 2015 federal taxes I show a taxable loss of $128,958, but on my CA From 540NR I show a total gain on the same property of $349,892.JA: The Accountant will know how to help. Is there anything else the Accountant should be aware of?Customer: Capital Gains on stock transactions show $138,447. I am NOT a resident of CA and never was. Why is CA state adding additional $587,129. to my gross Income??JA: OK. Got it. I'm sending you to a secure page on JustAnswer so you can place the $5 fully-refundable deposit now. While you're filling out that form, I'll tell the Accountant about your situation and then connect you two.

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Robin D.

Vocational, Technical or Trade School

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My husband makes $111,512 per year. We are married and he claims

My husband makes $111,512 per year. We are married and he claims me and our 3 children. We have no other tax exemptions or credits. What would be our tax rate for both Federal and State. For instance would our tax rate be 15, 20 or 25% specifically?

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Angie

Bookkeeper

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462 satisfied customers
Like Kind Exchanges , New equipment $190,000 Trade in

Like Kind Exchanges JA: Thanks. Can you give me any more details about your issue? Customer: New equipment $190,000 Trade in Value $38,000 Paid in cash balance of $153,750. Old equipment exchanging for $125,000 fully depreciated. Trying to set up on Tax return and on financial statement what journal entries to do JA: OK got it. Last thing — Tax Professionals generally expect a deposit of about $32 to help with your type of question (you only pay if satisfied). Now I'm going to take you to a page to place a secure deposit with JustAnswer. Don't worry, this chat is saved. After that, we will finish helping you.

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Jason M. Tyra, CPA

Principal

Master's Degree

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362 satisfied customers
, I own an LLC that I started last year. I plan on

Hi JA: Hi. What is your issue regarding? Customer: I own an LLC that I started last year. I plan on taking most of my income and investing in other projects, which will each be in the form of another company. I was thinking I should create a holdco over all these companies. Can I be the single owner of the hold co and all opcos? JA: Tell me more about your problem so I can decide what kind of lawyer you need. I'm sorry I'm feeling very dense today, I just don't understand what variety of lawyer you are looking for. Could you please name the kind of lawyer you want to see? Customer: Did you not understand the question I described? JA: We'll do all we can to help. Is there anything else important you think the Accountant should know? Customer: the basic question is, can I single handedly own the Holdco and all opco? JA: OK. Got it. I'm sending you to a secure page on JustAnswer so you can place the $5 fully-refundable deposit now. While you're filling out that form, I'll tell the Accountant about your situation and then connect you two. I'll let you know when it is your turn.

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37,726 satisfied customers
What will be tax break up detail. 1. if the base salary in

what will be tax break up for following detail.1. if the base salary in California is $160K per year.2. Person is single unmarried with no kids.please tell me a rough break up. please do not send any link etc.

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Lane

JD, MBA, CFP, CRPS

Doctoral Degree

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16,770 satisfied customers
Looking on whether I should buy a company vehicale and

looking for insite on whether I should buy a company vehicale and trailer at 40,000 on a loan through a buisness lender for a tax break on this years taxes for my buisness. Currently we are in our second year of buisness and have grossed 100,000 and taken roughly 50,000 in net profits, we need a new vehicale and trailer. Is going the section 179 in california wise at this time for a tax break on this years taxes? And what would the benifits be of doing this?

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PDtax

Owner

Master's Degree

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6,780 satisfied customers
My wife and I are transitioning from working with w2 income

My wife and I are transitioning from working with w2 income to retirement with Social Security and income from our 401K's. Our non-401k savings is all in various investments. From a tax stand point, if we need cash for some large expense like a car or major home repair, is it better to sell stock from our saving account or withdraw large sums from our 401k.

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emc011075

Tax advisor and Enrolled Agent

Bachelor's Degree

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3,742 satisfied customers
I just changed jobs and have $28,000 in a profit sharing

I just changed jobs and have $28,000 in a profit sharing account. I took out $13k in January so I'm already going to take a tax hit.I am interested in purchasing a house but don't have enough in savings. My question is should I take out the remaining balance to buy a home or will the tax hit be too big to justify the withdrawal?

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emc011075

Tax advisor and Enrolled Agent

Bachelor's Degree

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3,742 satisfied customers
I am disabled and receive $1103 a month SS disability, I am

I am disabled and receive $1103 a month SS disability, I am also going to inherit a pension which will pay me $1238 a month. Will I need to pay income taxes? Will I lose my medication subsides from my state (NM)?

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Lane

JD, MBA, CFP, CRPS

Doctoral Degree

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16,770 satisfied customers
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