Tag Archives: Connecticut

Qualifying Daughter

Today TaxMama hears from Laura in the TaxQuips Forum, with these two common issues.  “(1) My daughter turned 24 in December of 2009.  During the entire 12 months of 2009 she attended school full-time; did not work; earned 0 income; and will not be filing a tax return. She lived at home and we provided […]

Ask TaxMama Issue 563 – Good Choices

Dear Family, Today’s theme was not planned. By coincindence, the very first two stories I researched this morning are about Orthodox Jewish experiences. In case you didn’t know, I was brought up in that community, attending full-time Hebrew or Jewish schools from nursery school all the way back in Hungary to an early admission to […]

Tax Holidays Coming Up

Today TaxMama wants to tell you about the upcoming tax holidays in your neck of the woods.

IRA on Rental Income

Today TaxMama hears from Bill in the TaxQuips Forum with a common misconception. “I have a W-2 through my employer and contribute to their 401k plan. I also have $30,000 net rental income from Schedule E as a sole proprietorship. Can I contribute to a SEP or any other type of retirement plan to shelter […]

PTA Book Sales

Today TaxMama hears from Guy in Connecticut, with this question. “Our local PTA, a 501c3, runs book fairs with a book company. We collect the receipts in full, then pay the invoice from the book company. Is the income from these activities the gross or net?”

Dispelling Tax Myths

Today TaxMama hears from Brian in Connecticut, who says. “I did some work for a guy in 2007. He paid me with business checks totaling $6,100.00 with no deductions. He refuses to give me a 1099. What should I do?”

IRS and States to Share Employment Tax Examination Results

[Courtesy of the Internal Revenue Service] WASHINGTON — Officials from the Internal Revenue Service and more than two dozen state workforce agencies today announced they have entered into agreements to share the results of employment tax examinations. The agreements, part of the Questionable Employment Tax Practice (QETP) initiative, provide a centralized, uniform means for the […]

EA Exam Review Courses and CPA Courses

Listed below are a few of the thousands of courses listed at our affiliate website, CPATrainingCenter.com. These courses change weekly, so please check back often. Auditing & Attestation Business Environment & Concepts Financial Accounting Regulation Licenses/Designations – Select State –AlabamaAlaskaArizonaArkansasCaliforniaColoradoConnecticutDCDelawareFloridaGeorgiaHawaiiIdahoIllinoisIndianaIowaKansasKentuckyLouisianaMaineMarylandMassachusettsMichiganMinnesotaMississippiMissouriMontanaNebraskaNevadaNew HampshireNew JerseyNew MexicoNew YorkNorth CarolinaNorth DakotaOhioOklahomaOregonPennsylvaniaPuerto RicoRhode IslandSouth CarolinaSouth DakotaTennesseeTexasUtahVermontVirginiaWashingtonWest VirginiaWisconsinWyomingAlbertaBritish ColumbiaManitobaNew BrunswickNewfoundland and LabradorNorthwest […]

Job in Neighboring State

Today TaxMama hears from Melissa in Massachusetts who tells us. “My husband will now be working in Connecticut and we live in Massachusetts. How will this affect our income? This move is supposed to be a promotion. Yet I wonder if the taxes will make that feel as if there were no bump in pay. […]

Sub-Divide Personal Residence

Today TaxMama hears from Scott in Connecticut who tells us. “I have a primary residence which I have occupied for more than 2 years. I‘d like to divide the property and sell some of it. How will the proceeds be treated from a tax standpoint?”

Stock Gifts

Today TaxMama hears from Harry in Connecticut who asks, “If my wife and I give gifts to my grandson of stock worth $12,000 each, what is his cost basis when he sells the stock 10 or 20 years from now, if he has no clue what the cost was.” Dear Harry, This is an excellent […]