Income Tax Lawyers in Irvine, California

Find the right Income Tax attorney in Irvine, CA

In Irvine, California, an income tax is imposed on a certain percentage of the income of all individuals and businesses. Generally, 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 an Irvine, California tax lawyer if you don't know what type of tax system your state has.

Income Tax Deductions in Irvine, California

A tax deduction is simply a reduction in the part of a person's income that is taxable. For example, if someone makes ,000 per year, and gets a ,000 tax deduction, their taxable income is ,000.

This should not be confused with a tax credit, which is simply a reduction in somebody's tax bill. A tax credit will usually reduce your tax liability far more than a tax reduction of the same amount.

Many common expenses in Irvine 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.

How Can A Irvine, California Tax Attorney Help?

Income tax laws in Irvine, California can get very complex. You should speak with an accountant or tax attorney if you have any questions about your income tax liability.

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Life in Irvine

Irvine is a city that has been meticulously planned. That could be why CNN voted it 4th best place to live in the entire United States but there are a number of other reasons like the FBI stating Irvine has the least violent crime in any city with a population over 100,000. Over twice that number live within Irvine city limits and enjoy access to all Irvine has to offer.

Over 50 companies have their world headquarters in Irvine including Taco Bell, Ultimate Ears, Felt Bicycles, LA Fitness, and Meade Instruments. Toshiba Corporations, Samsung Electronics, Kia Motors, Asics, and Shimano all operate their North American Headquarters from Irvine as well. With so many large businesses in Irvine, you'd probably be surprised to find out the University of California, Irvine and Irvine unified School District are still the top two employers in the city. Communications giant Cellco Partnership/Verizon Wireless and medical companies Edwards Lifesciences and Allergan are three other big hitters in the Irvine economy.

There's plenty of opportunity for recreation among Irvine residents and visitors. The City of Irvine offers countless community and neighborhood parks. The Northwood Community Park offers one of the most distinctive sights. The Northwood Gratitude and Honor Memorial is exceptional because it's the first United States memorial to be built before the war was over. Honoring the fallen U.S. military personnel from the conflicts in Iraq and Afghanistan, it's also the only memorial that will be updated yearly to display the 5,700+ names. Irvine also hosts the Irvine Global Village Festival celebrating diversity. The festival offers a wide range of exhibitions, entertainment, and food from cultures around the globe.

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