Legal Question in Investment Law in California

How does investment Club members determine California state taxes owed?

Asked on 8/22/13, 5:04 pm

1 Answer from Attorneys

Bryan Whipple Bryan R. R. Whipple, Attorney at Law
0 users found helpful
0 attorneys agreed

I would recommend using a professional tax preparer or tax accountant. There are many possibly complex questions involved in determining an individual's tax liability when he/she is a member of an investment club. The club itself likely has a duty to report certain tax-related information to its members, but it certainly cannot determine how much tax any particular member may owe. Among other things, the member's tax bracket will come into play, and the club would have no way to know what bracket you are in.

Read more
Answered on 8/22/13, 6:38 pm

Related Questions & Answers

More Investment Law questions and answers in California

Looking for something else?

Get Free Legal Advice

88683 active attorneys ready to answer your legal questions today.

Investment Law Legal Forms

Browse and download our attorney-prepared and up-to-date legal forms from $4.99

Find a Legal Form

Featured Attorneys

Timothy McCormickLibris Solutions - Dispute Resolution ServicesSan Francisco, CA
Michael E. HendricksonAttorney & Counsellor at LawAlexandria,
Barry SteinDe Cardenas, Freixas, Stein & ZacharyMiami, FL
Find An Attorney

Are you an Attorney?

Earn additional revenue and grow your business. Join LawGuru Now