Income Tax Lawyers in Huntington Beach, California
In Huntington Beach, California, an income tax is imposed on a certain percentage of the income of all individuals and businesses. Typically, 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 Huntington Beach, California tax lawyer if you don't know what type of tax system your state has.
For years, rumors have circulated that the federal income tax is illegal or unconstitutional. These rumors are false: the federal government has explicit constitutional power to tax income under the 16th Amendment. Still, "tax protesters" employ some fringe constitutional arguments, none of which have been successful. In Huntington Beach, California, refusing to pay your income tax can, and likely will, result in criminal prosecution.
Income Tax Deductions in Huntington Beach, California
A tax deduction is simply a reduction in the part of a person's income that is taxable. For example, if someone makes $50,000 per year, and gets a $1,000 tax deduction, their taxable income is $49,000.
This should not be conflated with a tax credit, which is a reduction in your tax bill. A tax credit normally results in a greater reduction in tax liability than a reduction in the same amount.
Lots of expenses that are common in Huntington Beach are tax deductible. Federal tax deductions include mortgage interest, union dues, interest paid on mortgages, and 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 Huntington Beach, California Tax Attorney Help?
Income tax law can get fairly complex in Huntington Beach, 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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Life in Huntington Beach
Sun, check. Surf, check. Shopping, check. Huntington Beach, California is the quintessential southern California beach town. Known for its 8.5 miles of sandy beaches, Huntington Beach is appropriately nicknamed "Surf City."
With a population just under 200,000 residents, Huntington Beach is both a popular place to live and a popular place to visit. Because of its laid-back beach lifestyle, it is also a popular place for many companies such as Quicksilver, Boeing, and Verizon. There are also many lawyers in Huntington Beach ready to serve the legal needs of their clients. Huntington Beach lawyers are some of the best at what they do. And no, Huntington Beach lawyers do not wear wetsuits to work.
Huntington Beach tourism is almost exclusively devoted to its beachy atmosphere, hosting events such as the U.S. Surfing Open, AVP tournaments, and triathalons. Huntington Beach also has many artistic events to offer visitors. The Bolsa Chica Wetlands, an ecological reserve known for its trails and scenic stops is also a hallmark of Huntington Beach.
So whether it is great weather, great lawyers, or a great wave, Huntington Beach has it all and more.