Jaspreet Singh Hundal

Jaspreet Hundal is a premier Family Law Attorney and Owner at Hundal Family Law. His practice is limited to Family Law, including divorce, child custody, child support, spousal support, property division and domestic violence. He is known for his unique ability to settle basic to complex cases in Solano, Yolo, Sacramento, Placer, and Sutter County. He is a fierce and balanced litigator focusing on helping families have a way of life.

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California

Since 2016

University of California - Davis

B.A. | Political Science

University of the Pacific, McGeorge School of Law

J.D. (2015) | Tax & Business Law

2015

Honors: Cum Laude Deans' Honors (2013; 2014; 2015) Witkin Award - Taxation of Corporations Witkin Award - Taxation of Real Property Witkin Award - Taxation of International Transactions

Clients Choice Award

AVVO

2021

Witkin Award - Taxation of Real Estate Transactions

University of the Pacific, McGeorge School of Law

2015

Witkin Award - Taxation of International Transactions

University of the Pacific, McGeorge School of Law

2015

Honoree For Academic Scholarship

Chief Justice Traynor Honor Society

2015

Graduated With Distinction (Top 20%)

University of the Pacific, McGeorge School of Law

2015

Association of Certified Family Law Specialist

Member

2020 - Current

Activities: Member.

California Lawyers Association - Family Law Section

Member

2020 - Current

Sacramento County Bar Association

Member

2017 - Current

State Bar of California  # 310885

Member

2016 - Current

Certified Mediator

University of the Pacific, McGeorge School of Law

Q. I'm a partner in a busines in CA and I need help with a question related to the personal income tax for profits didntget

July 6, 2017

A: This can be a confusing issue for many taxpayers who are partners in a partnership. As a partner, you will report your share of income that is listed on your K-1. With partnerships, you are taxable on your share of income regardless of whether or not you received a distribution. The tax laws with respect to partnerships distinguish between "allocations" and "distributions."

As a partner, you are "allocated" your share of partnership income. You will be taxed on this amount even if the partnership does not "distribute" those funds to you. This presents the often confusing result of being taxed on money that you never "actually" received.



You did mention that you are leaving the company. This has many tax consequences that beyond that scope of what can be accurately discussed on this post.

Finally, please do not take this as definitive legal advice. This is a general outlay of how the partnership code works with respect to the specific issue of being taxed on your allocable share of income that you never received a distribution of. ... Read More