THE CAL SIMPLE TAX PLAN

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UNITED CALIFORNIANS  

FOR TAX REFORM  

info@CalSimpleTax.org   

 

THE CALIFORNIA SIMPLE TAX

How to Use It


Using Proposed Form "540-Simple" is as easy as one, two, three

If your income is no more than $50,000 single or $100,000 married filing jointly and consists only of wages, interest, dividends, IRA distributions, and pensions, you would have the option of filing your taxes on a simple one-page tax form.

1.  Add up how much money you earn

This information can be gathered from sources such as your Federal Forms W2 and 1099. No need to keep detailed financial records; your employer is already tracking this information for you.  Simple

 2.  Subtract the standard deduction

The Standard Deduction is $7020 for a single filer and $14,040 for married couples.  Simple

3.  Multiply the adjusted amount by 0.025

This is the tax you owe.  It's that Simple

 

 

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