Tag Archives: Financial economics

Investment Tools and Tips

Today TaxMama wants to speak to you about how to gain a better understanding of your investments, and money – and perhaps their relationship to your taxes.  

Writing off my Dog

Today TaxMama hears from Sid in the TaxQuips Forum, who has a dog walking/training sole proprietorship. “My question concerns expenses for my dog, who is the face of my business (appearing on all my advertising material) and whom I use all the time for training demonstrations to attract clients. Can I deduct any of her […]

Prepaid Medical Insurance

Today TaxMama hears from Elaine in the TaxQuips forum, who tells us. “I have a client that is retiring now at age 55. He will receive $185,000 in deferred compensation. The company will withhold $111,000 for lifetime medical insurance for him. Can the whole $111,000 be deducted in the year paid?”

Earthquake Insurance

Today TaxMama reads an article from Al Tompkins at Poynter.org who ponders “Is earthquake insurance worth the cost?”

Coin Collection

Today TaxMama hears from Tarquin in New Orleans, with this problem. “I inherited a coin collection. The estimated basis I got was $70,000. But the collection sold for $90,000 a few months later. I calculate that I now owe $5,600 in capital gains taxes. But I know that coin prices have been falling. Therefore, the […]

Why Should I Care?

Today TaxMama hears from Julie who says “Why should I care about people who got messed up with subprime or ARM mortgages? Did they not know enough to read their contracts? I had a financial advisor back in 2004 who presented an adjustable rate based on the LIBOR Index. I told him to forget it […]