TaxMama

Real Estate Dealer

by TaxMama on September 2, 2010

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Today TaxMama hears from David in the TaxQuips Forum, who defines a dealer in real estate as someone who sells a single property for profit, as long as  the intent to act as a dealer to real estate is present.”

Dear David,
You tell us that IRC 453(l)(1)(B) defines a dealer disposition as:
Any disposition of real property [...]

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Ask TaxMama Issue 565 – Thank YOU

by TaxMama on August 20, 2010

Dear Family,
THANK YOU.
Did I remember to tell you just how much I appreciate you – your friendship and support, your comments and even, sometimes, your silences? Well, THANK YOU.
We don’t always remember to show our gratitude or appreciation. So, many years ago, I created a holiday for this very purpose. (You’ll even find mentions of [...]

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TaxMama’s In Depth Tax Web Workshop for Writers, Journalists and Bloggers

by TaxMama on August 9, 2010

When:             August 13, 2010
                        10:00 am – Noon PT
Where:            Online in TaxMama’s Conference Room
Cost:               $50.00                       
Discounts:             $20 discount to members of writers groups –   Check with your association for discount code 
CPE Credits:            2 hours for Enrolled Agents
 
How to Register  -   Include the name of your writers association
                        Be sure to include [...]

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Making IRS Payments

by TaxMama on August 20, 2010

Proposed Regulations Expand the Use of Electronic Payment System and Discontinue Paper Coupons Next Year
WASHINGTON — Consistent with a Financial Management Service initiative announced in April of this year, the IRS today issued proposed regulations to significantly increase the number of electronic transactions between taxpayers and the federal government.
The proposed regulations (REG 153340-09) would eliminate [...]

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The Sheer Genius of Politicians

by TaxMama on August 20, 2010

In a bid to stem taxpayer losses for bad loans guaranteed by federal housing agencies Fanny Mae and Freddy Mac, Senator Bob Corker (R-Tenn) proposed that borrowers be required to make a 5% down payment in order to qualify.
His proposal was rejected 57-42 on a party-line vote because, as one Senator explained, “passage of such [...]

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