Tag Archives: Income taxes

Construction Sales Tax

Today TaxMama® hears from Yimmy in the TaxQuips Forum, who wants to know.  “I moved into a newly constructed home in Oct. 2012. Are the sales taxes paid on the construction materials used in building the home tax deductible? The home is in Georgia.”

New Taxpayer

Today TaxMama hears from Jerad in California who wants to know. “What would you advise someone who is a 23 year-old student who never had a job until late 2008, but didn’t pay taxes until today? I would like to get things straight and have it done.”

Team Sponsorship

Today TaxMama hears from Stacy in California with this situation. “My husband runs a travel softball team and we allowed the players to get sponsors. The rule was that the first 25% of the sponsorship went to the team; and the other amount went to their individual accounts. We have a player who did this, […]

Obama and Biden file 2008 Tax Returns

Courtesy of NAEA – National Association of Enrolled Agents President Barack Obama and his wife, Michelle, on Wednesday released their MFJ tax return. The first couple reported about $2.7 million in income for 2008, mainly from book sales. President and Mrs. Obama paid about $855,000 in federal income taxes. In a release, the first family […]

First $2,400 of Unemployment Benefits Tax Free for 2009

IR-2009-29, March 26, 2009 WASHINGTON — All or part of unemployment benefits received in 2009 will be tax free for many unemployed workers, according to the Internal Revenue Service. “This morning we learned that a record 5.6 million people were receiving unemployment benefits in the middle of March. This underscores the need for the relief […]

IRS Offers Tips to Avoid Recovery Rebate Credit Confusion

IR-2009-10, Jan. 30, 2009 WASHINGTON –– In response to errors showing up on early tax filings, the Internal Revenue Service today urged taxpayers and tax preparers to make sure they properly determine eligibility for the recovery rebate credit before they file their 2008 federal tax returns. Some individuals who did not get the economic stimulus […]

Sales Tax Deduction

Today TaxMama hears from Milton in Florida with this question. “I’m trying to gather all my General Sales Taxes together. I’m also liable for a Florida Power & Light Co. utility bill in which they itemize a cost to me from something called a Gross Receipts Tax. Can I lump this in with my state […]

Family Wages

Today TaxMama hears from Lena in Virginia, who wants to know. “In order for a family member to be paid wages, do they have to perform the actual task on a regular basis? Or is it sufficient if they are able to perform the task when needed?”