Tax Consultant Blog

Knowledge is power. Stay on top of the latest tax laws, strategies, and tips from the tax professionals at Robert Hall & Associates. Wondering what the difference between Enrolled Agents and CPAs are? How about any tax deductions you might be missing? Find the answers to these questions and more here!

How to Buy Investment Property

When: Thursday, August 6th 2020 Webinar: 11:00am – 12:00pm Our premier presentation that includes an entire overview of real estate investing from A-Z. If you are a real estate investing beginner or those who have bought property in the past this is for you! This is the most comprehensive presentation on real estate investing on…
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3 Common Tax Deductions for California Homeowners

1. Mortgage Interest Deduction Mortgage interest is tax-deductible, but this year the deduction has been adjusted. The deduction is limited to interest on up to $750,000 of debt ($375,000 if you’re married filing separately) instead of $1 million of debt ($500,000 if married filing separately).   2.Property Tax Deduction Property taxes are generally still tax-deductible, but…
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4 Common Tax Deductions for California Parents

If you’re a parent in the state of California, then the following information below will highlight all you need to know about some of the most common tax deductions for parents, such as the Child Tax Credit, the Child and Dependent Care Credit, and the Earned Income Tax Credit. 1. Child Tax Credit The Child…
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State of California Tax Return Info

State of California Tax Return Information Do I Need to File a California State Tax Return? For all California residents, you should file state taxes IF: You are under the age of 65, and your gross income or your adjusted gross income is greater than the minimum requirement shown below: Gross Income Adjusted Gross Income…
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What Is the Qualified Business Income (QBI) Deduction & How Can I Get It?

What is the qualified business income (QBI) deduction? To answer your question, the qualified business income deduction allows eligible self-employed and small-business owners to deduct up to 20% of their qualified business income on their taxes. In simple terms, if your total taxable income in 2019 was under $160,700 for single filers or $321,400 for…
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Los Angeles, California Sales Tax Details

In 2020, the minimum combined sales tax rate for Los Angeles, California is 9.5%, which is the total of the state, county and city sales tax rates. Currently, the California sales tax rate is 6%, while the Los Angeles County sales tax rate is 0.25%, and the Los Angeles sales tax rate is 0%. As…
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California Sales Tax Details

In the state of California, the state sales tax rate is 7.25%. This rate is made up of a base rate of 6% in addition to a mandatory local rate of 1.25% that goes directly to California city and county tax officials. Depending on local sales tax jurisdictions, the total tax rate can be as…
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5 Big Tax Deductions for California Retirees

Growing older doesn’t always have to be a bad thing; as the older you get, the more perks you can receive to help cut annual taxes. The following are the top five tax deductions for retirees in California. 1.  A Higher Standard Deduction You will be able to deduct the amounts highlighted in the table…
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