Category Archives: *AskTaxMama Newsletter

AskTaxMama

2016 Mileage

TaxMama® and Ken Jeffries interview: LISTEN TO PODCAST: Ken: It’s TaxQuips Time from TaxMama.com . Today TaxMama covers deductible mileage. What kinds of mileage are deductible by individuals and businesses? TaxMama: Actually, there are four ways to take advantage of vehicle-related deductions: Medical mileage Moving Mileage Job or business mileage Charitable mileage Ken: What are […]

8 Tips to Stay Sharp – For teachers, Students, Classrooms

Today’s TaxQuip is sponsored by X-Acto electric pencil sharpeners. As you might have guessed, my favorite classes in school were my English classes, where we got to write compositions, essays, analyze newspaper articles and editorials. The best teachers I knew were those who red-penciled our papers. Sometimes, my pages looked as if they were bleeding. […]

First Time Homebuyer and IRAs

A first home? Today TaxMama® hears from Emily in the TaxQuips Forum with an excellent question. “I’m 35 years old and taking money out of an IRA for a down payment on my house. I am not a first time homebuyer. This will be my primary residence. Should I roll my IRA into a ROTH […]

IRA Warnings

Today TaxMama® hears from Jeff in the TaxQuips Forum with a very common type of problem. Let me paraphrase. “My wife had a traditional IRA at Vanguard and we rolled it over to another company where I set up the account. We didn’t notice that the account was in my name, instead of hers until […]

Innocent Spouse Relief – Sort of

Today TaxMama® hears from Melissa in the TaxQuips Forum. “I was granted innocent spouse relief after my divorce in 2013. Yet when I filed my taxes this year, I didn’t get my refund and received no info on why; or if it went to my ex-husband’s unpaid state (WV) taxes, that he hasn’t paid for […]

PitBull Tax Resolution Software Demo

When I started teaching the IRS Practice Series at CPE Link, I needed an easy way to prepare my pro-forma collections forms. It was especially important to have a tool that would integrate the most current National Standards, exclusions from assets, etc. PITBULL SOFTWARE provided me with the tools that I need. Not only do […]

October 15th is NOT the filing deadline for Everyone

October 15th is the annual filing deadline for all personal income tax returns. This year, some (un)lucky folks in several disaster areas around the country have extra time to file – as long as they were wise enough to put their personal tax returns on extension. What about the rest of us? We still face […]

Taxable Complimentary Stuff

Today TaxMama® hears from Rick in the TaxQuips Forum. Let me summarize his issue. He just learned that he is getting a $9,000 1099MISC for items he receives to review. He can’t use most of those things, but he’s not allowed to sell them. Yet, he will be paying taxes on the retail value of […]