Business Law, Accounting, and Taxation Issues

san_jose_guy
money was invented for handing to women, but buying dances is a chump's game
Older thread:

OT: Business Law Issues
https://tuscl.net/discussion.php?id=5028…

In hand now:


Legal Guide for Starting & Running A Small Business
Steingold, Fred S.,

NOLO (2019)

"Covers The New Tax Law"

SJG

The Greatest Of Dizzy Gillespie (1961) (Full Album)
https://www.youtube.com/watch?v=RNR9lYwi…

40 comments

Latest

san_jose_guy
5 years ago
So this book looks really good, and I know I will be returning to it, and it also lists other books I can probably get.

So talks about S corporation and C corporation.

Back in the debates with Al Gore, G. W. Bush said that most small businesses were S corporations. That did not sound right to me, and other people also said so. I don't think it is correct. But S corporation does have its uses.

I think there are other classes, but it talks about C corporation, which I guess is what is used most.

Book does not say it is for California, but their HQ is in Berkeley. So it has the CA incorporation form. $100 fee. Also on form says something about $800 min annual tax! Yipes! To Franchise Tax Board.

I also know that this county has a business assets tax which is pretty steep and applies to EVERYTHING! Book does not talk about this.

CA incorporation form is ARTS-GS, issued by Secretary of State.

5 page PDF
https://bpd.cdn.sos.ca.gov/corp/pdf/arti…

Current processing times ( like 5 days ) and name availability
https://www.sos.ca.gov/business-programs…

Business Resources
https://www.sos.ca.gov/business-programs…

Name availability and rules
https://www.sos.ca.gov/business-programs…


so about taxation, say Kim is the sole owner of a corporation. They get client revenue, and they pay their expenses. Say they also acquire some supply inventory and some equipment. Book says that that counts as corporate profits, even though no share holder dividends being paid. Taxed at 21%.

So much more I need to know and understand!

This kind of Administrative, Legal, and Accounting and Taxation stuff is prohibitive for most people, far too complex!

My organization though will deal with it and become expert in it.

SJG

skibum609
5 years ago
Your organization, consisting of you alone, with be heavily sedated in a psychiatric facility.
san_jose_guy
5 years ago
One thing that above book makes clear is that in every state you can have a corporation where you are the only employee, the only shareholder, and the only director.

But if you have multiple shareholders, you may need to have multiple directors.

I was unclear about this.

Now, I thought there used to rules against being a director of more than two corporations beyond a certain size. Anyone know about this?



Then before 2018 there was a corporate tax rate progression running from 15% to 38%.

Since 2018 it is a flat rate of 21%.


so if a corp acquires inventory, assets, or equipment, without thus drawing something else like a cash kitty down to offset it, then it profit and so it has to pay this 21% tax.

There will then be a depreciation schedule for existing assets and inventory.

Any way to acquire a big float of stuff and cash without having had to pay this 21% tax?? Not sure.

But a non-profit can be tax exempt, but this only applies to : charitable, scientific, educational, literary, religious, testing for public safety, fostering national or international sports competitions, preventing cruelty to children or animals.

Non-profits must be a discipline in and of themselves, no owners, must have written governance protocols. And then religion must be even more complex, specialized lawyers needed.

I also don't know how much the authorities care about transactions being done with cash.


I guess a start up getting equity funding does not have to pay tax on that, or on what it uses it for. But here we do have a business assets tax. Start up spending its equity funding, that is not profit.

I know there is some legal allowance for deducting the costs or red ink businesses, and even zero revenue businesses. But there are limits to this.

The one time I hired a professional tax preparer was for a 1/2 hour consultation about this. What he told me was very good, and it worked. He also recommended the J. K. Lasser guide for covering this. It did, and I had used other guides, but not that one.

This county also has tax on business assets, which covers everything, even leased buildings.


This stuff is all very complicated. For most people, this is the barrier to running a business the way that they want to.

For people like Kliener Perkins, they have the highest power attorneys around, Wilson and Sonsini.



For deduction personal income, as I know you can wipe away the first 50% by giving to charities, and think any of the above types of nonprofits. But to get to the second 50%, it has to be these Certified Conservation Charities. Sounds complex, but it means land conservation.

And I think the giving can be shares of stock, though there are strict rules for appraising the shares of nonpublic entities. But Warren Buffet wants to give away shares, I think to the Gates Foundation.

SJG


The Faces - (I Know) I'm Losing You live at the BBC
https://www.youtube.com/watch?v=UrOPJXrU…
san_jose_guy
5 years ago
Some books recommended in the NOLO Guide:


Corporations use IRS 1120
https://www.irs.gov/pub/irs-pdf/f1120.pd…

there is a special version for S Corporations

29 pages of instructions
https://www.irs.gov/pub/irs-pdf/i1120.pd…



There is also B Corporation, in CA and many states. Benefit Corporation, can make decisions based on other things than the financial interests of the shareholders.

501(c)(3) is the IRS code for Non-Profits.

No tax on its income, and tax deduction for those who make contributions. And this is including religion.

Starting and Building a Nonprofit, by Peri Pakroom, Nolo.

Starting & Building A Nonprofit

A Practical Guide
Pakroo, Peri , 2019

How to Form A Nonprofit Corporation in California
Mancuso, Anthony (2019), and this guy has books about LLC's and lots of other stuff with Nolo.

U.S. Master Tax Guide (2020)
https://www.amazon.com/dp/0808047795?aax…

I think this means personal and all types of business. Only $115 and only 1008 pages. Of course this covers the Trump changes.

I also notice this:
How to Pay Zero Taxes, 2020-2021: Your Guide to Every Tax Break the IRS Allows 37th
https://www.amazon.com/dp/126046170X/ref…


the big US master tax guide is In Library use only in some locations.

SJG
TrollWarnBot
5 years ago
WARNING - The following accounts are considered to be forum trolls and may not be trustworthy:

san_jose_guy - Commonly referred to as SJG this forum member may have some sort of mental illness and is usually mocked or ignored. SJG has a long history of posting incendiary comments including being pro-rape. His comments should NOT be taken in any way as legitimate.
nemesisk7
5 years ago
The economy is bad , high unemployment
san_jose_guy
5 years ago
^^^^^ Our Economic System is worthless.

What creates the busts are the booms.

The Official unemployment rate may be lower than it generally gets, but the official unemployment rate might be only about 25% of the actually jobless rate.

And then the underemployment rate is probably at least 70%

We should not be trading worker safety or union representation to create jobs. We should not be giving corporations tax breaks to create jobs.

That is just wrong headed, it is Supply Side Voodoo.

What we should have is UBI +Strong Public Housing Offering +Medicare For All +Free College.

And we should return to pre-Reagan taxation of top bracket 70%, and then since wealth taxes are even more progressive we should have that small one for asset portfolios over $50 Meg.

***********************

Now reading the above book, I find that it tells me massive amounts of stuff. But this is still only about 1% of what one would need to know to become a player in the Corporate and VC realm.

So be it, the going will be slow.

The most interesting thing I have found so far is this Section 179 Deduction. Your for profit corporation can plow back in up to $1 Meg per year, and pay no taxes on this!!

Now the threshold was crossed years ago in semiconductor manufacturing that the principle equipment, aligners, goes for over $1 Meg a piece.

https://www.evgroup.com/products/lithogr…


And $1 Meg is not buildings or jet aircraft. But for a starting out micro corp, $1 Meg per year tax free is a huge sum. Don't think it applies to building up a reserve kitty though.


SJG


Back door outfits becoming more common. I see this as a big plus. Slut wear should not just be something which needs to be taken off. And the back door should be encouraged.

Maybe after the first few rounds, time to get in the shower, then take it off of her.

In my observations, most strippers ITC go more for simplicity and little or nothing besides high heels and makeup, avoiding the real action uniform slut wear. Making too little use of even things like thigh high stockings.

https://www.yandy.com/Open-Cup-Lace-Tedd…

https://www.yandy.com/Plus-Size-Open-Cup…


I do not go along with MG-TOW or this Sandman, but this video has hot pics and I do what to keep tabs on what is being said.
They Don`t Get Better With Age - MGTOW
https://www.youtube.com/watch?v=j-Ek9igi…


The Rolling Stones - Austin, TX - 10-22-2006
https://www.youtube.com/watch?v=boeEcc6h…
san_jose_guy
5 years ago
So this book is real good. But still much more one needs to know.

Legal Guide for Starting & Running A Small Business
Steingold, Fred S.,

NOLO (2019)


So I want to try and record some of its references:

Books by Fred S. Steingold and by Tony Mancuso, and others from this Nolo Press.

How to form a nonprofit corporation : a step-by-step guide to forming a 501(c)(3) nonprofit in any state., Anthony Mancuso, 2019 edition!

Incorporate your business : a step-by-step guide to forming a corporation in any state / Attorney Anthony Mancuso (2019 edition)

Nonprofit meetings, minutes, & records : how to run your nonprofit corporation so you don't run into trouble / Attorney Anthony Mancuso (2018)

Tax savvy for small business / Attorney Frederick W. Daily and Jeffrey A. Quinn, CPA. (2016)

Need to look at that ftb warning about $800 min tax.

SJG
san_jose_guy
5 years ago
How to Pay Zero Taxes, 2020-2021: Your Guide to Every Tax Break the IRS Allows 37th ,

tends to be in libraries as ebook only.

by Schnepper, Jeff A.

Here, this shows what is in it, over 800 pages

https://www.amazon.com/How-Pay-Zero-Taxe…

Out of town libraries have it, but it is heavily utilized.

How about something specifically about Corporate Tax Planning?

The tax and legal playbook : game-changing solutions to your small business questions / by Mark J. Kohler. (2019)

J.K. Lasser's small business taxes 2020 : your complete guide to a better bottom line / Barbara Weltman (company writes good books)

Lower your taxes--big time! : wealth-building, tax reduction secrets from an IRS insider / Sandy Botkin, CPA, J.D. (2017 edition )


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Red 6 inch Pleaser Strappy High Heel Shoes, no platform
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san_jose_guy
5 years ago
Tax Info For Corporations

https://www.irs.gov/corporations

SJG
san_jose_guy
5 years ago
https://www.investopedia.com/terms/c/cor…

https://www.investopedia.com/terms/b/bus…

https://www.investopedia.com/ask/answers…



Capital expenditures might include:

Plant and equipment purchases
Building expansion and improvements
Hardware purchases, such as computers
Vehicles to transport goods



https://www.investopedia.com/terms/d/dis…

Largest overseas cash stashes:
https://fortune.com/2018/02/22/us-compan…

SJG
san_jose_guy
5 years ago
So we have this Section 179 exception, sounding very useful for small businesses, but not for things the size of buying a building or funding a new start up corp.

https://www.investopedia.com/ask/answers…

So like we have here this Asian Americans for Community Involvement, which is mostly an umbrella non-profit, as they built this real neat high rise. Donations are tax deductible. Then it serves as the land lord for lots of other groups.

https://aaci.org/honorary/

Donating Stocks and Securites gives a deduction equal to full market value, subject to IRS limits for giving ( I think it is 50% of AIG ).

But this AACI building would still be subject to property taxes.

SJG

SJG

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https://www.youtube.com/watch?v=ggLgFDzq…

Joe Bonamassa Official - "Breaking Up Somebody's Home" - Live At The Greek Theatre
https://www.youtube.com/watch?v=3DxaVOeu…
san_jose_guy
5 years ago
https://www.google.com/maps/@37.3160508,…

Well today this would not be considered high rise, but back then for this area it was.

Gordon N. Chan.

https://www.sfgate.com/news/article/CHAN…



Yes, there are also County Business Asset Taxes, and these apply even to buildings that are leased.

https://pay-tech.com/capital-expenditure…

SJG
san_jose_guy
5 years ago
So who knows about this Section 179? Used it, seen it used, read about it.

How does it work if you want to get a real estate loan, make the payments under Section 179? Can the payments ever be just expenses? So much to learn.

San Jose Rosicrucian Order AMORC has never been a religion, still should not be. Almost a whole city block in the prime Rosegarden neighborhood.

1342 Naglee Ave.

https://www.sccassessor.org/index.php/al…

(APN): 261-16-052

1342 NAGLEE AV SAN JOSE 95126-2007
667 CHAPMAN ST SAN JOSE 95126-2007

Transfer Date: 1/1/1973

Land: $1,031,895 ( they say they use market values, but this is a gross underestimate, more like around $5.5 Meg per acre)

Exemptions Other, almost the total value Other: $4,145,342

Net Accessed Value: $260,612 So is this their tax?



https://www.google.com/maps/place/1342+N…

https://www.google.com/maps/place/667+Ch…

Document No: 0R-3874

https://www.sccgov.org/sites/rec/Pages/o…

Holy Shit!

"Real estate records for Santa Clara County since 1850 are available after they have been recorded. These records will only be available for purchase in person or by mail. This affords greater privacy protections to all individuals whose information appears in the database, and furthers use of the index only for lawful and appropriate purposes."

"
Facilities for researching official documents and maps are available at the Santa Clara County Clerk-Recorder's office main office. Note that document contents may only be viewed at the main office, not on-line."

Fuck!

Anyone else know more about this?

SJG

I need a break, says globetrotting Greta
http://www.msn.com/en-us/news/world/i-ne…

https://www.amazon.com/Into-Wild-Jon-Kra…

https://www.imdb.com/title/tt0758758/?re…
san_jose_guy
5 years ago
So I want to try and look here at what this county's property tax and business assets tax are, how they work:

https://www.sccassessor.org/

80 S. Market St, San Jose, this is the Catholic Cathedral

https://www.sccassessor.org/index.php/al…

These numbers are gross underestimates. Spent $22 Meg restoring that in the 80's.
259-40-067

not getting anywhere.

Again, Rosicrucian Park
https://www.sccassessor.org/index.php/al…

Okay, Rosicrucian Park is making two payments of about 5k per year. Previous year it was 2x 6k payments.

Because they are charging for Business Assets and personal property, some of the bill could be:

"The term "unsecured" simply refers to property that can be relocated and is not real estate. An unsecured property tax bill is usually for property such as aircraft, boats and business personal property. An unsecured property tax bill may also be for real property such as land in some cases. What makes this tax bill different from the secured tax bill is that the lien for taxes is against the owner of the property. If taxes are not paid a lien can be filed against the owner of the property."







SJG

Joe Bonamassa "Midnight Blues"
https://www.youtube.com/watch?v=0YsEzJs6…
san_jose_guy
5 years ago
I had though that only Religious Organizaitions were exempt from property taxes.

Seems that ordinary tax exempt no profit is too.

https://www.irs.gov/charities-non-profit…

This is more fair.

So is there any advantage which religion has?

San Jose Rosicrucian Order AMORC is not a relgion. They have over $4 Meg of property. They pay taxes on $116k of something.

Says that non-profit also exempt from other property taxes, like buiness asset taxes, so I think.

So maybe this $116 is the inventory in their bookstore / gift shop, stuff which is being offered for sale?

Does anyone know the rules about these sorts of things?

Do Nonprofit Organizations Pay Property Taxes? ( Arizona )
https://yourbusiness.azcentral.com/nonpr…

"As long as they already have incorporated, nonprofit organizations often do not have to pay property taxes. Although it varies by location, many states, counties and municipalities make allowances for registered charitable organizations to either not pay property taxes or to have the property taxes they pay reimbursed. These exemptions, however, are rarely automatic. Often, a qualifying nonprofit must apply for property tax exemption or reimbursement every year."

"After attaining a tax exempt number from the IRS, a nonprofit must arrange with each property tax authority for exemption or reimbursement. Under most circumstances, tax-exempt status is granted to organizations that fill special roles in the community. As a result, some smaller nonprofits might gain exemption from municipal property taxes, but not county or state property taxes. Each level of government might have different criteria, and the criteria will vary depending on the state. As part of a nonprofit corporation's due diligence, it is critical to investigate the property tax rules for the area the nonprofit will occupy."

Lets look at the UU Church.

160 N 3rd St, San Jose

467-20-048

They are valuing this at $2,285,530. This is a huge underestimate!

So they are paying $14k twice per year and they are far behind!!!!

And a year ago it was just $1k twice per year. Don't know why the change.

This Unsecured Property Tax might be a different bill!

Exemptions: $2,056,977

Then I think they pay tax on:

$228,553

Some of their building is leased out as office space to a local charity.

Tax Bills Explained:

https://www.sccgov.org/sites/dtac/tax/Pa…

Secured Property Tax Bill
https://www.sccgov.org/sites/dtac/tax/Do…

^^^ explains tax calculation

works out to be around 1.17% per year.

Supplemental Tax Bill

https://www.sccgov.org/sites/dtac/tax/Do…

^^^^ not sure what this applies to or what it means.


Unsecured Tax Bill

https://www.sccgov.org/sites/dtac/tax/Do…

^^^ says 1% maximum. But I still do not understand what is being taxed and when such applies.

I have much to learn.

SJG
Mate27
5 years ago
^^ STFU!!
san_jose_guy
5 years ago
Non-Profit taxes, Santa Clara County CA, this stuff looks extremely complicated!

https://www.sccassessor.org/index.php/pr…

https://www.boe.ca.gov/info/VirtualSemin…

https://www.sccassessor.org/index.php/pr…

https://www.boe.ca.gov/proptaxes/welfare…

https://www.boe.ca.gov/proptaxes/faqs/fa…

Looks like there is still some advantage property tax wise which Religion gets over other non-profit, and Church gets more than Religious Organization.

https://www.sccassessor.org/index.php/pr…

https://www.sccassessor.org/index.php/pr…

To do anything you need vast amounts of money for lawyers and accountants!

SJG
san_jose_guy
5 years ago
231 Sunset Ave, Sunnyvale ( Episcopal Church )
(APN): 165-10-035

They value the property at $956,592 (Gross Under Estimate! )

They say $6k of fixtures and $31k of personal property. I have no idea what this would be.

So they want two installments, each of $643.64

This is the lowest property tax I have seen to date.

Okay, but that tax if for the Secured Property, goes on APN.

For the Unsecured Property need the accessment number, not sure if I can get that.

"The term "unsecured" simply refers to property that can be relocated and is not real estate. An unsecured property tax bill is usually for property such as aircraft, boats and business personal property. An unsecured property tax bill may also be for real property such as land in some cases. What makes this tax bill different from the secured tax bill is that the lien for taxes is against the owner of the property. If taxes are not paid a lien can be filed against the owner of the property."

okay, starting to understand, but still need much more info!



SJG

Cream - White Room -1968
https://www.youtube.com/watch?v=4jpmY8ZX…

Guess Who - Come Undone
https://www.youtube.com/watch?v=cTds0422…

Steppenwolf - Born To Be Wild 1968
https://www.youtube.com/watch?v=mLhpXUtx…

Yes - Yours Is No Disgrace - Live at Beat-Club - 1971 - Remastered
https://www.youtube.com/watch?v=93y9wfB3…

https://www.youtube.com/watch?v=nDXccU0x…

TJ Street
https://tuscl.net/photo.php?id=3560
https://tuscl.net/photo.php?id=1132
https://tuscl.net/photos/5d6995383b90d
https://tuscl.net/photo.php?id=2305
https://tuscl.net/photo.php?id=1140

Lincoln Project
https://lincolnproject.us/

https://lincolnproject.us/news/lincoln-p…

https://lincolnproject.us/news/the-urgen…
san_jose_guy
5 years ago
^^^^^ they have a charitable means program, a fancy dining hall and a fully commercial kitchen. This could be pushing their taxes higher.

But still, the lowest I have seen yet, and much lower than Rosicrucian Order AMORC.

SJG
Uprightcitizen
5 years ago
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san_jose_guy
5 years ago
san_jose_guy
5 years ago
SCORE homepage
https://www.score.org/#

SCORE is the nation’s largest network of volunteer, expert business mentors, with more than 10,000 volunteers in 300 chapters.

Anyone ever work with this group?

SJG
san_jose_guy
5 years ago
SCORE
Religious Nonprofit Organizations and Churches
https://www.score.org/resource/religious…

The IRS includes “religious” among the tax-exempt purposes recognized by Section 501(c)(3) of the Internal Revenue Code, and churches and religious organizations—both of which serve religious purposes—can usually obtain 501(c)(3) tax-exempt status.

https://www.score.org/resource/religious…

^^^ all so complex. But really income tax is not the main issue, rather it is county property and asset taxes.

SCORE Association
1175 Herndon Parkway
Suite 900
Herndon, VA 20170

Media Resources
https://www.score.org/content/media-reso…

SCORE youtube
https://www.youtube.com/user/SCORESmallB…

very short videos, makes it hard to do anything with them.

But they have some play lists, like
https://www.youtube.com/watch?v=QoEcyUDu…

To watch their recorded Webinars, one must register with them. ANyone who has been online knows that you do not disclose real identity info. Need to think about what I will do some.
https://www.score.org/live-and-recorded-…

https://www.youtube.com/watch?v=b9J7vZYF…

^^^^ all of this is curious, but not necessarily something I am going to do anything with, too motivational, not enough serious content.

SJG
san_jose_guy
5 years ago
Need more exhaustive and authoritative information, not motivationalism and generalities.

SJG
san_jose_guy
5 years ago
Freelancing
https://www.youtube.com/watch?v=PMK2XXMo…

Generally this kind of general biz theory stuff is of only marginal value. But this is a lengthy video. Better.

But for authoritative info, books and online better, can find what is needed easier.

SJG
san_jose_guy
5 years ago
https://www.freelancer.com/?msclkid=081b…

https://www.guildfreelancers.org/

Freelancer's Union, founded by Sara Horowitz
https://en.wikipedia.org/wiki/Freelancer…

https://en.wikipedia.org/wiki/Sara_Horow…

^^^^^ The "Freelancing" Video above is 98% bullshit, and about a bullshit topic.

SJG
san_jose_guy
5 years ago
This is a massive property, vast low ceiling hall, and lots more. How much property tax do they pay?
http://www.sanjosegurdwara.org/

3636 Gurdwara Ave, San Jose, CA 95148

Financial info:
http://www.sanjosegurdwara.org/financial…

Document No: 13439615 Document Type: GRANT DEED
Transfer Date: 9/11/1996 Tax Default Date: N/A
Assessor's Parcel Number (APN): 659-22-011


So twice per year they have to pay, $22,554.72, and they are paid up. But this is only the secured taxes. Don't think I can see the unsecured.

Request exemptions?
https://www.sccgov.org/sites/dtac/tax/Pa…

"The term "unsecured" simply refers to property that can be relocated and is not real estate. The tax is assessed against such things as business equipment, fixtures, boats and airplanes. If the unsecured tax is not paid, a personal lien is filed against the owner, not the property."

"​The January 1 value is multiplied by the tax rate (usually 1% plus voter approved indebtedness). The unsecured tax rate is the prior year's secured rate."


Land: $2,707,863
Improvements: $24,264,316

Total: $26,972,179

So $26 Meg, gross underestimate, but it is not all land.

For some reason though they have to pay tax on $1,597,639

about secured taxes
"In order for the amount of your taxes to be determined, the County Assessor must first assess the value of your property as of January 1. Generally, the assessed value is the cash or market value at the time of purchase. This value increases not more than 2% per year until the property is sold or any new construction is completed, at which time it must be reassessed. For more information on how the assessed value is determined, see the County Assessor's website. After the Assessor has determined the property value, the County Controller applies the appropriate tax rates, which include the general tax levy, voter approved special taxes, and any city or district direct assessments. The general tax levy is determined in accordance with State Law and is limited to 1% assessed value of your property. After applying tax rates, the County Controller calculates the total tax amount. Finally, the Tax Collector prepares property tax bills based on the County Controller's calculations, distributes the bills, and then collects the taxes. Neither the County Board of Supervisors nor the Tax Collector determines the amount of taxes."

Non-profit taxes:

https://smallbusiness.chron.com/nonprofi…

https://www.irs.gov/charities-non-profit…

https://dor.wa.gov/content/property-tax-…

https://canons.sog.unc.edu/property-taxe…

https://ced.sog.unc.edu/property-taxes-n…

Propterty tax state by state ( TX is very high, CA 32nd, NV is higher than CA. NM is low. AZ a little bit lower than CA. )
http://www.tax-rates.org/taxtables/prope…

Property Tax Calculator
http://www.tax-rates.org/property-tax-ca…

My county says that they use market values. But I feel that the values are too low, so comparisons will be screwed up.

So for my county, use $1 Meg value.
Yearly property tax $6,700.00

But I know that there are also additional parcel taxes in some places but not others.

It can be muni to muni.

I try other CA counties and the number comes up different, but not grossly so.

Try TX,
their counties can be 2 or 3 x the CA taxes.

Try NM
yes, lower than CA.

Yes, WV, DC, Delaware, Alabama, Hawaii ( I think most land is leased ) are the lowest, with Louisiana as the very lowest.

Sales tax
http://www.tax-rates.org/taxtables/sales…

Only Alaska, Oregon, New Hampshire, Delware, Montana, have no sales tax. But I also know that the exact rates vary county by county.

Income tax will of course be complex, CA very high.

http://www.tax-rates.org/taxtables/incom…

Alaska, Florida, Nevada, South Dakota, Texas, Wyoming, NO STATE INCOME TAX.

But all these matters are so complex. Why are these local churches and non-profits still having to pay property taxes, and how could they change this?


SJG

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san_jose_guy
5 years ago
A couple of other local properties I want to look at the taxes for:

YMCA
1717 The Alameda
San Jose, CA 95126

^^^^ denies the address!

Try Planned Parenthood across the street:


1691 The Alameda, San Jose, CA 95126
^^^^ denies that too, WTF?

Second Harvest Food Bank

750 Curtner Ave, San Jose, CA 95125

(APN): 456-25-001

they are saying this property has zero value!
Document No: 11242946 Document Type: DEDICATION BY MAP

Maybe Second Harvest does not own it, just government gave them use of it?


Try something else!

Jubilee Christian Center, armpit of the entire county.

Now: Redemption Church
105 Nortech Pkwy, San Jose, CA 95134

Okay, I had to use advanced address search:

(APN): 015-44-004

SO they are placing it just under $17 Meg, and the exemptions exactly cover the value. So no tax. But don't know about the unsecured values.

But why are these other orgs having some value which is still getting taxed?

SJG
san_jose_guy
5 years ago
I believe that the ways religious organizations do things is entirely the result of trying to work their way around laws about taxation and all. And as always it is just about affording the lawyers.

Let me look again at some key properties:

So trying again for the YMCA, I get

1717 The Alameda

Land: $2,129,429
Improvements: $4,771,493

Total: $6,900,922


and so they get a full exemption, for presumably zero tax for secured assets. Don't know about unsecured assets.

And so how about Planned Parenthood across the street:

So had to use advanced search, but got (APN): 261-18-047

so:

Land: $1,471,541
Improvements: $1,440,689

Total: $2,912,230

And the exemptions cover it.


So lets do a house:

1295 Naglee Ave

(APN): 261-14-032

so $620,000K( extreme under estimate), so $7k homeowner exemption.( don't know how this works) The the rest gets taxed.

So $4.4k tax twice per year, so a little more than 1%

How about Grace Community Services, American Baptist church, now turned into charity.
484 E. San Fernando at 10th St.

https://www.yelp.com/biz/grace-community…

484 E San Fernando St

467-25-099

So $1.2 meg total, all covered by exmeptions.

So why do the UU Church, AMORC, and St. Thomas Episcopal still pay some tax?

https://boe.ca.gov/info/VirtualSeminars/…

SJG

san_jose_guy
5 years ago
How about the ultimate non-profit property, AACI, Asian Americans for Community Involvement.

https://www.google.com/maps/@37.3160505,…

2400 Moorpark Ave
(APN): 282-02-037

Yes, grand total is covered by exemptions.

And total includes:

Fixtures: $17,003
Structure: $0
Personal Property: $1,719,039
Total: $1,736,042

SJG

san_jose_guy
5 years ago
Limited Liability Corporation ( I assume always has to be for profit )

Can in some states be not for profit (Texas)

Pass thru taxation.

https://en.wikipedia.org/wiki/Limited_li…

As I know used for professional practices and for real estate acquisition.

https://www.irs.gov/charities-non-profit…

Churches and Religious Organizations, IRS Webinar
https://www.irsvideos.gov/ChurchesReligi…

SJG
san_jose_guy
5 years ago
Books which might help me better understand this Business Asset Tax, as that seems more important than income tax.

Tax Savvy for Small BusinessTax Savvy for Small Business, Book
A Complete Tax Strategy Guide
by Daily, Frederick W.


Home Business Tax DeductionsHome Business Tax Deductions, Book
Keep What You Earn
by Fishman, Stephen


Start your Own BusinessStart your Own Business, Book
The Only Startup Book You'll Ever Need



Deduct It!Deduct It!, Book
Lower your Small Business Taxes
by Fishman, Stephen


The Real Estate Agent's Tax Deduction GuideThe Real Estate Agent's Tax Deduction Guide, Book
by Fishman, Stephen


Tax Deductions for ProfessionalsTax Deductions for Professionals, Book
by Fishman, Stephen



Lower your Taxes-big Time!Lower your Taxes-big Time!, Book
Wealth-building, Tax Reduction Secrets From An IRS Insider
by Botkin, Sanford C.



Working for YourselfWorking for Yourself, Book
Law & Taxes for Independent Contractors, Freelancers & Gig Workers of All Types
by Fishman, Stephen

SJG
san_jose_guy
5 years ago
Our long serving County Tax Assessor is opposed to Prop 13, Jarvis-Gann. It really has made a mess in CA.

But I have commented above that the assessed property values look way to low.

Well our Assessor just explained that they only assess such value twice, new construction, and when a property changes hands. So they aren't supposed to otherwise be accurate.

So much I had not known!

SJG
SJGTHREATENSWOMEN
3 years ago
ESS JAY GEE
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