Category: California Tax
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California Capital Gains Tax works just like income tax — the state treats profits from selling stocks, bonds, real estate, or other assets as ordinary income. Unlike the federal government, which separates short-term and long-term capital gains, California makes no distinction. Whether you held an asset for 10 days or 10 years, your profit is…
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Think California inheritance tax is going to take a bite out of what you inherit? Here’s the surprising truth: California doesn’t have an inheritance tax. But don’t relax just yet. Federal estate taxes, property tax reassessments under Prop 19, and even out-of-state inheritance rules can still shrink what ends up in your pocket. In other…
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Most people assume the California estate tax is just another cost of living in the Golden State. But here’s the surprise: California doesn’t currently have a state-level estate tax. Sounds like good news, right? Not so fast. Federal estate taxes can still take up to 40% of large estates, and if you own property in…
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