Category Archives: *Tax Quips

When a Client Doesn’t Pay the Tax Pro

Dear Folks, No offense intended. But when you engage the services of a tax professional, the concept that the IRS has in mind is that you are working with a “paid professional.” If you don’t pay that tax pro, then their signature on your tax returns and/or other documents is not valid – because they […]

Not A Temporary Job

  Today TaxMama® hears from Dustin in the TaxQuips Forum, who has a very reasonable question. (Let me paraphrase.) “I live in Idaho and just got a construction job in Nevada that will last two years. My wife wants to stay in Idaho near her doctor during her pregnancy. What’s the best way to handle […]

Charity by Proxy

Today TaxMama® hears from GuideForThePoor in the TaxQuips Forum, who has an interesting question. “Suppose your deductions are too low to itemize, but you still want to give money to charity. Can you give the money to a friend who does itemize – and have the friend donate it to charity and get the deduction?” […]

Single Member LLC

  Today TaxMama® hears from Sheronda in the TaxQuips Forum, with this question – which is more common than you might think. She read this on the Delaware website “Single-member Delaware LLCs are “disregarded entities” according to IRS regulations, which means they have no U.S. income tax and no reporting due.” And asks, “Does this […]

Tax-Free Muni Bonds

Today TaxMama® hears from Rosemount in the TaxQuips Forum, with this excellent question. “What taxes would be due on municipal bond fund earnings if a Florida resident?”

Family Caregiver

Today TaxMama® hears from KP in the TaxQuips Forum, with this question.  “My sister-in-law received a 1099-Misc with an amount in box 6 for medical health care payments for providing care for her husband, a veteran receiving VA benefits. I know the amount is taxable to the federal government, but is it subject to social security […]