Author Archives: TaxMama

Collecting Social Security Early

Today TaxMama® hears from Thom in the TaxQuips Forum with a question I used to wonder about. “I started collecting Social Security benefits at 62. I just started working a few hours a week part time. Why are they still deducting SS from my paycheck, since I am collecting benefits?”

Oops Got Another 1099, W-2 etc

Today TaxMama® hears from various folks in the TaxQuips Forum and elsewhere with another common problem. “I filed my tax return and then got another W-2, 1099, or a corrected 1099 from my brokers. What should I do now?”

Moving & Payroll

Today TaxMama® hears from various folks in the TaxQuips Forum and elsewhere with this common problem. “My client moved to a different state while working for the same company. His W-2 shows withholding for the former state, but none for the state he lived in. His employer won’t correct the W-2. What should we do?”

Home Schooling

Today TaxMama® hears from Sharonda in the TaxQuips Forum with this fun topic, let me re-phrase. “I have a new client that home schools her children. What tax breaks are available to her?”                                                                            

Crowdfunding for Medical Costs

Today TaxMama® hears from Josh in the TaxQuips Forum with this interesting question, let me re-phrase. “I want to raise money for a family member who is ill, using crowd-funding. What’s the best way to do this with the least tax impact?”

Asking After the Fact

 Today TaxMama® hears from several people in the TaxQuips Forum, with questions asked too late. Here are some questions that should have been asked before you entered into your financial transactions – not when you file your tax returns.

W-4 Time

Today TaxMama® hears from Bingo1 in the TaxQuips Forum, with this disturbing question. “On the w4 form I believe the amount for line 5 is 2 because my husband is the only one working and I don’t work. I have two kids. Is that correct? My CPA told me I should use 1 on line […]

Mortgage Unpaid

Today TaxMama® hears from GADS in the TaxQuips Forum, with this issue that I probably should not make public: “A 2 family house has been rented for the last 5 years. Both units are rented. The owner stopped paying the mortgage 18 months ago. He still is collecting rents and reporting them on Schedule E. […]

Accidentally Late

Today TaxMama® hears from JNaveen in the TaxQuips Forum, with this disturbing problem. “I regularly file my tax through TaxAct. This year I filed on time both federal and state. With lot of issues at home, I forgot to monitor whether they actually submitted or not. Looks like they didn’t submit state tax for whatever […]