What are Maximum Exemptions in CA?

[ApresMoi]

The last I knew, it was $21,875. That was the max. Anyone know if this has changed? Thank you.

[iv65536]

Are you using System 1 or System 2?

[ApresMoi]

I am exempting using the 703 codes. Does that help?

Are you using System 1 or System 2?

[momofthree]

For system 2, the wildcard is $1100 + unused homestead exemption of up to $20725.

However, you still get household goods exemptions (value of up to $525 for each item), car exemption ($3300), tools of the trade ($2075), etc.

CA is very liberal with their exemptions, mainly due to the wildcard....

[ApresMoi]

Ok, great. The Petition I was given for review left off a lot of stuff, and I changed it to include everything (as I am supposed to do). That takes me me close to $20K. But most things fall under the $525 value limit, so I really don't have anything to worry about. Thank you for clarifying. I looked at those limits a long time ago, and just plain forgot.

For system 2, the wildcard is $1100 + unused homestead exemption of up to $20725.

However, you still get household goods exemptions (value of up to $525 for each item), car exemption ($3300), tools of the trade ($2075), etc.

CA is very liberal with their exemptions, mainly due to the wildcard....

[ApresMoi]

Wait a minute. Are you saying you get the $1100, plus the $20,725 AND the other separate exemptions (car, tools of the trade)? I thought I could only exempt $21,825 in TOTAL.

For system 2, the wildcard is $1100 + unused homestead exemption of up to $20725.

However, you still get household goods exemptions (value of up to $525 for each item), car exemption ($3300), tools of the trade ($2075), etc.

CA is very liberal with their exemptions, mainly due to the wildcard....

[momofthree]

Wait a minute. Are you saying you get the $1100, plus the $20,725 AND the other separate exemptions (car, tools of the trade)? I thought I could only exempt $21,825 in TOTAL.

Nope, not total. You get all those separate exemptions on top of the wildcard. My attorney even exempted my next years tax return with the remainder of the wildcard. Filing in Cali is bomb!

[liboton21]

I was able to keep my house, property lots, firearms, three cars plus tax refund. One more week to discharge....

[ApresMoi]

One more week? How can this be? I thought you just recently had the 341?

I was able to keep my house, property lots, firearms, three cars plus tax refund. One more week to discharge....

[ApresMoi]

Okie dokie. Sounds good to me!

Nope, not total. You get all those separate exemptions on top of the wildcard. My attorney even exempted my next years tax return with the remainder of the wildcard. Filing in Cali is bomb!

[liboton21]

One more week? How can this be? I thought you just recently had the 341?

Yes, 341 was rescheduled last month on my 1st 341 due to TT did not received the past tax return or his assistant screw up since the day I filed lawyer send all the paper work to UST and him.

[ApresMoi]

Oh, I see. Still they seem to be moving at a pretty good clip. You don't have too long of a wait. Good!

Yes, 341 was rescheduled last month on my 1st 341 due to TT did not received the past tax return or his assistant screw up since the day I filed lawyer send all the paper work to UST and him.

[liboton21]

As long as you are honest and ducks in a row, you should be fine.

[ApresMoi]

Yes, whoever prepared the petition left off a few grand worth of stuff, and i made them put it back on. I'm the one who has to sign on the dotted line.

As long as you are honest and ducks in a row, you should be fine.