Today TaxMama hears from Mark from Brooklyn, who asks, “is income from a notary public considered income for the EIC (the Earned Income Credit)?buy ivermectin online pavg.net/wp-content/languages/new/where/ivermectin.html no prescription Most people I asked, said at their first instinct that, yes it is. But when I make them aware that this income is exempt from self-employed […]
Tag Archives: Income taxes
Courtesy of IRS – IR-2007-153 WASHINGTON — The Internal Revenue Service today announced the release of the summer 2007 issue of the Statistics of Income Bulletin, featuring data from 21.5 million individual income tax returns that reported non-farm sole proprietorship activity in tax year 2005. Profits from all non-farm sole proprietorships totaled $269.9 billion in […]
Your summer vacation may mean a trip to the casino or the racetrack. What will you owe Uncle Sam if Lady Luck happens to be on your side? Gambling winnings are fully taxable and must be reported on your tax return. You must file Form 1040 and include all of your winnings. Gambling income includes, […]
WASHINGTON — The Internal Revenue Service today announced the release of the spring 2007 issue of the Statistics of Income Bulletin. Highlights include articles on high-income individual income tax returns, taxpayers reporting noncash contributions, farm proprietorship returns, qualified zone academy bonds, international boycott reports and S corporations. The article on farm proprietorship returns is the […]
By David & Mary Mellem, EAs This Act, made Public Law 110-28 by President Bush’s signature on May 25, 2007, increases the Federal Minimum Wage and provides some tax changes as well. It can be found at the government’s web site of thomas.loc.gov by searching for HR 2206 or by going to Public Laws and […]
Today TaxMama hears from Jean in New Jersey, who asks “Does a non-profit organization have to pay into unemployment compensation.”
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.buy canadian flagyl online https://mabvi.org/wp-content/languages/new/canadian/flagyl.html […]
Today TaxMama hears from Don in Ocala, FL who wants to know, “if I withdraw funds from my 401k, are they taxable under state law?”
Today TaxMama hears from Margaret on the Internet, who has this upbeat idea. “I have been divorced for three years with good relations with my ex. We continue to work together in a small family construction business. I am wondering if, in the long run, I would be better off re-categorizing the alimony to W2 […]
Today TaxMama hears from Fran from Marietta, GA asks “Are you able to take sales tax deduction on automobile purchase?”
Today TaxMama hears from Joe in Montevallo, NY who wants to know, “Is my income tax rate, including social security, and other income based on my adjusted gross income or gross income?”
Today TaxMama hears from Margaret. “My daughter’s boyfriend, with whom she lives, filed his tax return claiming my daughter and their child for the sake of the EIC. He expected to receive approximately $2000 back as a refund. Instead he received a notice from IRS that not only was he not getting his refund, but […]