Income tax in the United States

Tax-Free Muni Bonds

May 12, 2014
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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?” photo by: LendingMemo

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Why no SS Withholding?

March 24, 2014
Social Security Card - is there anything in your account

Podcast: Play in new window | Download Today TaxMama® hears from Inteph in the TaxQuips Forum, who made a new discovery.  “A young lady made about $15,000 in 2012. The employer (a city in California) withheld income tax and Medicare tax but not SS tax. Boxes are 3 and 4 are blank.  What do I tell […]

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Double Taxation

February 27, 2014
Capital gains

Podcast: Play in new window | Download Today TaxMama® hears from NutShell in the TaxQuips Forum, with this brilliant observation. (let me summarize) “I just figured out that if I have capital gains income, I am taxed by both the IRS and the state. If I live in an income tax-free state or overseas, should I […]

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Qualified Dividends

February 17, 2014
Dividends

Podcast: Play in new window | Download Today TaxMama® hears from Rogers in the TaxQuips Forum, with this question. “My 1099 DIV form shows that I received $2,345.60 in dividends from a typical domestic stock index fund. But what is unclear is, should the dividend be taxed at capitals gains rates, if it’s a qualified dividend? […]

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Doubling My Income

January 20, 2014
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Podcast: Play in new window | Download Today TaxMama® hears from Idlkotr  in the TaxQuips Forum, with a good question.  “I have the opportunity to be an independent contractor. I am an occupational therapist who will be working with disabled children in their home. Thus, a lot of driving. I will be doubling my income. […]

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Unexpected Loss

September 18, 2013
Make an educated guess

Podcast: Play in new window | Download Today TaxMama® hears from Chan  in the TaxQuips Forum, with this question “If my business had an unexpected loss of $102k at end of year last year but I made my quarterly payments anyway – will I have a large refund or credit if so? Where did my […]

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Living Tax-Free

May 6, 2013
IRS Building

Podcast: Play in new window | Download Today TaxMama® hears from Clifford in the TaxQuips Forum, with an excellent question. “I was told in an investment class that dividend income and social security income could be “blended ” to reduce taxes. We were told that up to $70,700 dollars could be sheltered from taxes. When […]

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Partnership Split

April 15, 2013
happy partners

Podcast: Play in new window | Download Today TaxMama® hears from Ben in the TaxQuips Forum, with a question that raises another common issue. Let me summarize the issue. “Quite often when two people become partners, one of them ends up doing more work for the business than the other. How can you split the […]

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