Income Tax Lawyers in Malibu, California

Find the right Income Tax attorney in Malibu, CA

In Malibu, California, an income tax is imposed on a certain percentage of the income of all individuals and businesses. Typically, income from all sources can be taxed. The federal government has had explicit constitutional power to impose an income tax since 1916, with the passage of the 16th Amendment. This came after the Supreme Court had repeatedly found a federal income tax to be unconstitutional. States, including California, have always been free 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 relatively high income taxes, and a few have none at all. You should consult with a Malibu, California tax attorney if you don't know what type of tax system your state has.

Income Tax Deductions in Malibu, California

A tax deduction is a reduction in the portion of a person's income that is taxable, resulting in a lower tax liability. For example, suppose your income tax rate is 10%, and you had ,000 in income last year. If you got a ,000 tax deduction, your taxable income would be ,000, and you would have to pay 10% on that. So, it would reduce your tax liability from to .

This should not be conflated with a tax credit, which is a reduction in one's tax bill. A tax credit normally results in a greater reduction in tax liability than a deduction in the same amount.

Many expenses in Malibu are tax-deductible, such as interest paid on mortgages, charitable donations, the price of tax advice, and union dues, among others.

How Can A Malibu, California Tax Attorney Help?

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

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Life in Malibu

Malibu, California is a beachfront city in Los Angeles County, California. its population is approximately 12,700 people.

Malibu is one of the most affluent cities in Los Angeles County, with a median household income of over ,000 per year.

Malibu is best known for its beaches. The presence of these beaches, and their quality, caused the value of beachfront property in Malibu, California to soar, with people from all over the country scrambling to take up residence there. Over the past several decades, this created a boom for real estate brokers, and Malibu, California real estate attorneys.

Malibu, California is home to several popular art festivals and art museums, including a branch of the Getty museum.

If you live in Malibu, California and need a lawyer, you're in luck. There are many very successful and sophisticated lawyers in Malibu, California who can help.

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