Courtesy of Spidell Publishing Inc. A California Court of Appeal has ruled that the LLC fee must be apportioned in Ventas Finance I, LLC. The court ruled that, while former R&TC §17942 — as applied to Ventas — violates the Commerce Clause, neither federal due process nor any principle of California law requires the FTB […]
Tag Archives: California
Today TaxMama hears from Gene in California who tells us, “My wife and I are landlords. We own 8 single family homes as rentals, 7 of them out of state. We both have full time jobs, but manage rentals ourselves without rental management companies.https://www.cinewebradio.com/wp-content/languages/new/research-paper-service.html Do we qualify for the status of active participants not passive […]
Today TaxMama hears from Rick in California who says “I’m selling a home in which I’m a 50% owner.buy viagra canada https://cpff.ca/wp-content/languages/new/canada/viagra.html no prescription This home was given to me by my living grandmother in 2001; which was given to her in 1994 by her living mother. The house will sell for $138,000.00 and I […]
On July 26, 2008, the Senate passed the “Housing Assistance Tax Act of 2008” (H.R. 3221). The president is expected to sign the bill. Among its provisions are: A refundable credit of up to $7,500 on the purchase of a principal residence by a “first-time homebuyer.” A first-time homebuyer is a taxpayer who hasn’t owned […]
Dear Family, The early birds really do get the worm today. Since practically before daylight, I’ve been watching the birds in my back yard swooping down and around, being unusually active. Generally, it’s the squirrels using the trellis Rick built as a jungle gym. Looks like we have new guests – some variety of blue […]
https://www.peacecorps.gov Volunteer projects and enter 688-261 in the keyword seach box. Can you just imagine someone around here coming along and building schools and fixing bridges for $20,000? Our government construction project costs are so overinflated, with costs so mismanaged, that it’s a wonder our city, state and federal goverments are solvent at all. Or […]
Today TaxMama hears from Maureen in California who says. “I own a house with my 2 sisters equally since 2002.https://alvitacare.com/wp-content/languages/new/cytotec.html They want to buy my share out because I am getting married. Will this amount be considered taxable since we didn’t sell the house?”
Interestingly enough, this information came from an Internet information newsletter, not a tax newsletter. In brief: NY State hit Amazon.com for sales taxes even though Amazon does not have a physical location in the state. Amazon is suing, claiming the New York law is unconstitutional based on a 1992 U.S. Supreme Court ruling that claims […]
Have you ever noticed that your copy machine and printer keep running out paper? If you don’t refill it before each print run, it’s bound to run out in the middle of a tax return. Or is it just that the few tax returns we actually print out are so bulky they practically eat up […]