Income Tax Lawyers in Fortuna, California

Income Tax Attorneys in Fortuna, CA

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In Fortuna, California, an income tax is imposed on a certain percentage of the income of all individuals and businesses. Usually, income from all sources may be taxed. The federal government has had explicit constitutional authority to impose an income tax since 1916, with the passage of the 16th Amendment. This came after the Supreme Court had consistently found a federal income tax to be unconstitutional. States, including California, have always been allowed to impose whatever type of income tax they liked.

While the federal government levies an income tax against every person and corporation in the U.S., the income taxes imposed by the states vary widely. Some states have fairly high income taxes, and a few have none at all. You should consult with a Fortuna, California tax lawyer if you don't know what type of tax system your state has.

You might have heard rumors claiming that you don't really have to pay your federal income tax. These rumors are false. "Tax protesters" rely on bizarre and discredited legal arguments in their claims that the federal income tax is somehow illegal. None of these arguments have ever been successful in U.S. Courts, and deliberately refusing to pay your income tax in Fortuna, California is a good way to end up in federal prison.

Income Tax Deductions in Fortuna, California

A tax deduction is an expense which, in whole or in part, is subtracted from a person's taxable income. For example, if you make $50,000 in a year, and the tax rate is 10%, a reduction of $1,000 results in only $49,000 being taxed. This means that you will pay $4,900 instead of $5,000.

This should not be confused with a tax credit, which is a reduction of a person's tax bill. A tax credit almost always results in a reduced tax burden than a tax reduction of the same amount.

Many common expenses in Fortuna can be deducted from your taxable income. They include mortgage interest, charitable contributions (if property documented, of course), the price of tax advice, union dues, and many others.

If one's state has an income tax, some of these expenses may be deductible from your state taxes, as well, but that depends on the law of California.

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How Can A Fortuna, California Tax Attorney Help?

Income tax law can get fairly complex in Fortuna, California. If you have any questions about your income tax liability, you should not hesitate to speak with a tax lawyer sooner, rather than later.

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