The tax situation adds to the gravity: Except for Social Security benefits, retirement income is fully taxed, and California imposes the highest state income tax rates in the nation (the top rate is 13.3 % for single filers with $ 1 million incomes and joint filers with incomes above $ 1,074,996). (kiplinger.com)
The 15 % rate applies for single filers with income between $ 38,601 and $ 425,800 and joint filers with income between $ 77,201 and $ 479,000 (nerdwallet.com)
(depreciation, which one of us reports the income [1 is 15 % tax bracket; 1 is 28 % as single filers], legality, what would the actual net income be, how much to charge) (biggerpockets.com)