Income Tax Lawyers in San Luis Obispo, California

Find the right Income Tax attorney in San Luis Obispo, CA

In San Luis Obispo, 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.

Everyone in the United States must pay the federal income tax. However, you only have to pay the state income tax of the state in which you reside. You should speak with an accountant or tax lawyer in San Luis Obispo, California if you aren't clear about what system your state has.

Income Tax Deductions in San Luis Obispo, 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 ,000 in a year, and the tax rate is 10%, a reduction of ,000 results in only ,000 being taxed. This means that you will pay ,900 instead of ,000.

This should not be conflated with a tax credit, which is a reduction in your tax bill. A tax credit typically results in a greater reduction in tax liability than a reduction in the same amount.

Under federal law, numerous expenses in San Luis Obispo are tax-deductible, including interest paid on a mortgage, charitable donations, the price of tax advice, and union or professional dues, among many others.

How Can A San Luis Obispo, California Tax Attorney Help?

Income tax laws can get quite complex, particularly when large amounts of money from multiple sources are involved. It would not be a bad idea to call a San Luis Obispo, California tax lawyer to avoid the consequences of under-paying, and to prevent you from over-paying.

Talk to a Bankruptcy & Finances Law Attorney now!

Life in San Luis Obispo

San Luis Obispo, California is a city in San Luis Obispo County. It is the county seat of, and largest city in, San Luis Obispo County. It has a population of about 42,000, as of a 2006 estimate by the U.S. Census Bureau. It is located on California's central coast, almost exactly midway between San Francisco and Los Angeles.

San Luis Obispo is home to the California Polytechnic University at San Luis Obispo, which iscommonly referred to as "Cal Poly" or "Cal Poly SLO." Many of its degree programs, particularly argiculture, engineering, and architecture, are consistently ranked among the best in the United States.

Thanks to the presence of a large, nationally-renowned university, San Luis Obispo definitely has a "college town" feel to it. And its proximity to the ocean, and the mountains further inland, provide a wealth of outdoor recreational activities. The Diablo Canyon nuclear power plant is located on the outskirts of San Luis Obispo provides most of the electric power for the area, and is also a major employer for professionals in a wide range of fields, particularly engineers. This power plant creates several thousand well-paying jobs, and is crucial to the local economy.

If you live in San Luis Obispo, California and need an attorney, you should be able to find one. There's almost certainly a San Luis Obispo, California lawyer who can help you with whatever legal issue you might have.

Clients Rate LegalMatch Attorneys
(click to read reviews)

Ian M.
Ian M.

Bankruptcy, Banking & Credit

Richboro, PA

Eddy H.
Eddy H.

Bankruptcy, Banking & Credit

San Mateo, CA

Howard B.
Howard B.

Bankruptcy, Banking & Credit

Rye Brook, NY