Tag Archives: income tax

2014 U.S./California Income Tax

May 02, 2014  |   Posted by :   |   Income Tax   |   0 Comments

In 2014, the highest income tax rate is 51.7% (Federal tax rate: 44.3%, California tax rate: 13.3%). The 51.7% tax rate applies to wage earners. For investors the top rate on net investment income is 50.92% (Federal tax rate: 43.4%, California tax rate: 13.3%). The top tax rates apply to U.S. taxpayers who earn income […]

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U.S. Income, Estate & Gift Tax 2014

April 30, 2014  |   Posted by :   |   Income Tax   |   0 Comments

Estate & Gift Tax 1. Estate and Gift Tax Exemption increases from $5,250,000 to $5,340,000, tax rate: 40% (excess over $5,340,000) 2. Gift Tax Exclusion: $14,000 per donee 3. Up to $1,090,000 of farm or business realty can receive discount estate valuation 4. Estate Tax Deferral (Installments) If one or more closely-held businesses make up […]

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2014 Tax Rules

January 22, 2014  |   Posted by :   |   Income Tax,IRS Tax Audits   |   0 Comments

Estate & Gift Tax 1. Estate and Gift Tax Exemption increases from $5,250,000 to $5,340,000, tax rate: 40% (excess over $5,340,000) 2. Gift Tax Exclusion: $14,000 per donee 3. Up to $1,090,000 of farm or business realty can receive discount estate valuation 4. Estate Tax Deferral (Installments) If one or more closely-held businesses make up […]

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U.S. Income Tax: Non-Resident Aliens

April 30, 2012  |   Posted by :   |   International Investors   |   0 Comments

Non-resident aliens are subject to U.S. Income Tax on U.S. source: (1) FDAP Income, (2) Effectively Connected Income. (1) “FDAP” Income U.S. Source “FDAP Income” i.e., Fixed or Determinable Annual or Periodical Income (e.g., salaries, wages, interest, rents, dividends and royalties). A non-resident alien is subject to U.S. federal income tax on FDAP income at […]

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