Today TaxMama hears from Tom in Florida who wants to know, “Does there exist a “codex” of the IRS tax code by section and with a brief description or synopsis of what each code relates to? I’d like to get at least one of those “codex”-type reference guides if you or anyone else knows how […]
Today TaxMama hears from Len overlooking the beach in California, who asks, “I am not a tax professional, but: Are you SURE the answer you gave the slightly lost Missouri lady with the partial interest in the California building is correct? She is, after all, not even a part-time California resident. Your answer implies that […]
Today TaxMama hears from the Mike in Florida, who tells us, “We received an assessment from our condo association. This assessment was to repair damage caused by hurricane Wilma when it hit Florida. Can we report this assessment as a casualty loss on our tax return? If we can, what schedules should we use to […]
Today TaxMama hears from Marty in Calif., who relates. “I own a piece of land in Florida that I own free and clear and now have up for sale (as of Jan. 1, 2006) and the listing price is $5.74 million. It was valued at $426,000 when I acquired it several years ago. A financial […]
Today TaxMama hears from Karin in Jacksonville, Florida, who tells us “I was single for most of 2005. Now my husband and I are trying to figure out the best way to file, since for that time I was head of my household, paying daycare expenses and etc. Any advice? He has already filed Married […]
Today TaxMama hears from Mike from Florida, “I am getting into the real estate sales business in southwest Florida. What business-related expenses are normally deductible? May I deduct the training required by state law? Car expenses, including leasing, fuel, and maintenance for a business-only vehicle? Office space in the home? Anything else?
Today Steve from Waltham, MA wants to know what to do about an employee. “We have an employee who is currently living and working in MA. She is moving to Florida and would like to continue to work for our company in Florida (while still reporting to her same manager in MA). We agreed. My […]