Tag Archives: Investment

Investing Through A Friend

Today TaxMama hears from Brent in the TaxQuips Forum, with an exciting opportunity. “I have been approached by a friend I trust (personally, not on the fine points of tax law) about investing in a pre-IPO stock of a foreign company that will be listed on a US exchange.  Two problems. First, I would invest […]

IRS Announces Pension Plan Limitations for 2011

WASHINGTON — The Internal Revenue Service today announced cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2011. In general, these limits will either remain unchanged, or the inflation adjustments for 2011 will be small. Highlights include:

IRS Issues Final Regulations on New Basis Reporting Requirement

For Investors, Reporting Gains and Losses Gets Easier Starting in 2011 WASHINGTON — The Internal Revenue Service today issued final regulations under a law change that will require reporting of basis and other information by stock brokers and mutual fund companies for most stock purchased in 2011 and all stock purchased in 2012 and later […]

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.  

NSF Charges

Today TaxMama hears from Toni in the TaxQuips Forum. She just wants to confirm. “NSF charges are allowable, aren’t they?  Years ago, as an auditor, I used to disallow them. At some point I was told by either review or appeals that they are allowable.  I still don’t think they should be & a client who […]

Double Taxed Pension

Today TaxMama hears from Marilyn in California, who tells us. “ I have a client who is a resident of Maine and receives retirement income from CA (PERS or STRS). Does he have to pay state tax on that in CA and in Maine?”

Need Truly Passive Income

Today TaxMama hears from Barb in San Diego, who needs advice. “I have Passive Activity Loss carryforwards. Are there any types (REITs, MLPs, etc) of publicly traded companies that have Passive Activity Income to offset those carryforwards? I don’t want to personally own income generating real estate and have to do all that work.”

Bear Stearns

Today TaxMama hears from Roland in Oxnard, CA, who tells us “I have some Bear Stearns stock. With the recent collapse of the stock, I’m in the negative by almost $2,000.00. Would it be better to sell my Bear Stearns stock now at a loss, or wait until JPMorgan completes the stock swap? Would the […]

Capital Losses – Plus

Today TaxMama hears from Brian in Kentucky who tells us. “In 2006 I sold my house and had some decent profits. I decided to invest some of it and lost $13,000 quickly in the stock market so I closed my accounts. No more of that for me. If I don’t have any capital gains in […]