Today TaxMama® wants to talk about deadlines, extensions, payments and dealing with it all on a tight budget. What do you do first?!
Today TaxMama® hears from C in the TaxQuips forum. She has an all-too common problem. “I have a tax return that I completed but did not mail off from 2013, I know you have to process your taxes within 3 years, is there any way to mail off this 2013 tax return and get my […]
The REPLAY of the April 2018-2019 webinar is HERE! Becoming a knowledgeable tax professional isn’t easy. It takes a lot of dedication, math skills, and the flexibility to keep up with the myriad of tax law changes that take place each year. But it can be done. It’s fun! And oh so lucrative. And TaxMama’s EA […]
Last week, I promised you that the Legislature would pass an extender bill by spring. Well, good news! They didn’t wait that long. They included most of the provisions of S. 2256 in today’s budget bill. Alas, Congress only extended them for the short-term. All the extenders are retroactive to January 1, 2017. But the […]
https://waysandmeans.house.gov/wp-content/uploads/2017/11/WM_postcardprint_110117.pdf The good news. President Trump Congress keeps telling you that taxpayers will be able to file on a postcard. The bad news? Look at lines 3, 10, 11, and 12. Your government is naïve. While this may be wish-fulfillment, it has no basis in practical reality. It should be a required […]
News Flash: IRS just released 2018 mileage rates: 54.5 cents for every mile of business travel driven, up 1 cent from the rate for 2017. 18 cents per mile driven for medical or moving purposes, up 1 cent from the rate for 2017. 14 cents per mile driven in service of charitable organizations. […]
Today TaxMama® hears from Bob with this question. “In order to rent my residence (house) as “unfurnished”, I had to move my furniture and other belongings to a storage facility (like Public Storage). Can I deduct the expense of this storage against my rental income?”