Tag Archives: jokes

Qualified Dividends

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? Or should it be taxed at regular […]

What to Expect from IRS Help in 2014

Today TaxMama® hears from KDevo  in the TaxQuips Forum, with this complaint. “I recently called the IRS to get clarification on filing a 2012 1040-X (amended return), with a balance due. TurboTax® did not generate a voucher and I couldn’t find a 2012 voucher on the IRS website. The IRS recording (800-829-1040) stated they would no […]

Deductible Day Care

Today TaxMama® hears from Mel  in the TaxQuips Forum, with this reasonable question.  “I have a client who sends their 5 year old to a private Christian school for pre-K. Can this be deductible like daycare? Is private school deductible at all in the upper grades?”

TaxMama s TaxQuips Ex Wife Got W-2

  Today TaxMama® hears from p0pp0p  in the TaxQuips Forum, with this question.  “I worked with my wife at a small company in NJ. I left the company in June of last year. I also have separated from my wife. My ex-employer gave my W-2 to my wife. Is this legal? How do I get another […]

Extra IRS Taxes Plus

Today TaxMama® hears from Wayne  in the TaxQuips Forum, with this question.  “I received a notice from the IRS that my 2011 tax return did not include a withdrawal from my 401k. So I had to pay roughly $3,500 in taxes and penalties for this omission by my tax preparer. Is this $3,500 payment deductible […]

Doubling My Income

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. I do not have a clue how […]

TaxMama s TaxQuips Health Care Mystery

Today TaxMama® hears from SwampWiz in the TaxQuips Forum, who is frustrated (can you blame him? Please read his detailed rant. Following is simply a summary.)  “I had read an official IRS notice that stated that if the individual’s income were to be “higher” than the one that had been proposed for the subsidy, the […]

2013 & 2014 Quick Resources

Today TaxMama® hears from Pope in the TaxQuips Forum, with a request.  “Could you publish a table showing 2013 & 2014 standard tax items. Things like standard deductions; personal exemptions; mileage rates (business, medical, charity); income limits– phaseout of itemized deductions; etc.?”

Medical Home Improvements

Today TaxMama® hears from Pia in the TaxQuips Forum, with the kind of question people often ask.  “We were wondering if it is tax-deductible to deduct the installation of hardwood floors for my autistic daughter who is severely allergic to carpet. Carpet causes uncontrolled seizures.”

Cannot Prove Residence

Today TaxMama® hears from Johnathan in the TaxQuips Forum, with a good question.  Let me summarize. “Although I have lived in my home for more than two years, I don’t have proof of that. My voter registration, driver’s license and banking all show a friend’s address. What kind of penalties will I face if the […]

Mandatory Distribution

Today TaxMama® hears from Patricia in the TaxQuips Forum, with this question.  “I have a client who is 70.5 and working for his own company. He has a 401k plan. Does he have to start taking distributions from his 401k because he is 70.5, even though he is still working? Can he still contribute to […]