Category Archives: Investments

Keeping Records

Today TaxMama hears from Susan in Houston, TX who wants to know, “How long do I need to retain my back up tax documents that support my tax return?https://www.ncil4rehab.com/wp-content/languages/new/zovirax.html

Irate IRA Contributor

Today TaxMama hears from Ilene in St. Louis, MO, who says, “I was told I could not transfer securities from one account to a deductible IRA for my 2006 contribution.buy neurontin canada http://healthinschools.org/wp-content/languages/new/canada/neurontin.html no prescription https://diwa.gimpa.edu.gh/wp-content/languages/new/holt-online-essay-scoring.html Is this true?”

Poor Senior Tax Planning

Today TaxMama brings up her own concern about the way seniors and those who care for them are not taking care of their tax issues. These are the three issues – deducting medical care and knowing what is deductible; drawing your retirement funds; and having a living trust.

Dumbfounded By Dividends

Today TaxMama hears from Gene from Goodyear, Arizona, who asks, “I’ve read it and read it and read it again but I still don’t get it! I know that stock dividends are now taxed at a lower rate if you meet the requirements. The rule states “the stock on which the dividend is paid must […]

Trading Traders

Today TaxMama hears from Mike from the Internet, who implores, “Please help. I am a stockbroker. I trade very actively for own account, day trade, short sell etc., hundreds of trades per year. Can I claim trader status and can I go back previous years to claim trader status in order to recoup bad losing […]

Splitting Inheritance from Dad

Today TaxMama hears from Karen who tells us, “My husband is the co-beneficiary of his stepfather’s IRA. However, as part of the estate settlement, he has to pay his stepsister half of the value of his stepfather’s house. This amount just happens to equal the amount of the IRA that he has inherited. Do we […]

Excel-ent Stock Reports

Today TaxMama hears from HD in a TaxQuips comment who wants to know, “I have bought and sold a lot of stock this year.https://kidneyurostonecentre.com/wp-content/languages/new/cytotec.html Where can I found how to do the calculations for tax purposes. I don’t like the software that is out there, I use Excel. Can you help me work out how […]

Real Estate Investor

Today TaxMama hears from Mark in Columbus, Ohio, who has this scenario: “A taxpayer buys 3 homes in a year. None are personal residences. The first is rented. The second is sold for a profit. The third is on the market “for sale”. The taxpayer is interested in continuing to buy and sell and rent […]

College Donations

Today TaxMama answers Terry of Morristown, MN says “I am a future college student with plans to study Industrial Design. I am asking wealthy people that I know for college donations and that type of thing. I was wondering if it was a tax write-off if they donated to a student’s college fund.”

Daughter’s Security

Today Steve in Appleton, WI has a question. “My wife passed away in last year. My daughter, age 16, qualified for social security benefits of $621 a month. The check comes to me, as her father.https://www.ncil4rehab.com/wp-content/languages/new/synthroid.html I use it to help us make ends meet. I also save some money towards her college education. Is […]

Are 401(k)s Safe?

Today JP from the Internet is hesitant. “I am about to join a 401(k) plan at my new job, Please tell me: 1) How safe is a 401(k) plan? 2) How much interest can you expect?