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Tax law in Boston, governed by both Massachusetts state law and federal statutes, involves regulations related to income, property, goods, services, and transactions. It includes facets like personal income tax, sales tax, corporate tax, and tax on property transactions. As a Boston resident, you are required to understand your requirements and rights under this law not only to comply legally but also to take advantage of any benefits and exemptions you might be entitled to.
There are several situations where you may need a tax lawyer. For instance, if you are starting a business and need advice on the tax structure, if you have complex tax issues or large amounts of taxes due, if you are facing an audit by the Internal Revenue Service (IRS) or the Massachusetts Department of Revenue, or if you need assistance with estate planning. A lawyer can help you navigate the complexities of the tax law, advocate on your behalf, and provide valuable advice to mitigate risk and ensure compliance.
Local tax laws in Boston intertwine Massachusetts state law and federal tax law. Key features include a flat rate for income tax at 5%, a sales tax rate of 6.25%, and property tax rates varying by county. Furthermore, the city of Boston has a residential property tax exemption for homeowners who live in their property as their primary residence. Corporations are also subject to tax based on their taxable income derived from Massachusetts.
Yes, residents of Boston are generally obligated to pay both state and federal taxes.
The sales tax in Boston is 6.25%, which applies to most goods and services sold in the state.
Taxable income in Boston includes wages, salaries, dividends, interests, rent and other forms of income after deductions and allowances have been accounted for. Some types of income are exempt, such as certain social security and pension benefits.
Yes, several organizations provide free or low-cost tax services for those who qualify. This includes the Volunteer Income Tax Assistance (VITA) program and Tax Counseling for the Elderly (TCE).
You have the right to appeal tax obligations or penalties. This process typically requires the assistance of a tax lawyer, who can guide you through a potentially complex process and represent your interests.
The Massachusetts Department of Revenue and the Internal Revenue Services are major resources for state and federal tax information respectively. Other key resources include the Boston Tax Help Coalition and the Volunteer Income Tax Assistance (VITA) program, which provide assistance with filing taxes to eligible individuals.
If you need legal assistance with tax matters, consider reaching out to a tax attorney for a consultation. They can provide guidance tailored to your specific situation. You can find a tax lawyer through a local bar association or a legal aid office. Be sure to prepare all the relevant documents and questions prior to your appointment to make the most out of your consultation.
