Tag Archives: pain

Divorce Rip-off

Today TaxMama hears from Kathy in the TaxQuips Forum who is in despair. Let me summarize her problem – and you can read the details, here. Her husband’s ex-wife keeps claiming their children on her joint tax return with her new husband, even though the divorce agreement says Kathy’s husband gets the children. Kathy and […]

A New Addition To The Family

This is a true story, reprinted with permission. Does this delivery qualify as a dependent this year? You decide. Nagendra’s  account of what happened: I’m sure my wife Allison will have a different story to tell about this delivery but here’s how I saw it. 4am Waking with tremendous abdominal pain. “What the heck is […]

It’s All About Pain

I’m horrible with numbers. So much so that I believe I’m number dyslexic, if there were such a thing? My point is that when I look at numbers my brain jumbles. Unfortunately for me that translates over into my finances, and of course, then my taxes. I have a pain. It’s a big pain. It […]

IRA for Home

Today TaxMama hears from Matthew in California who begs leave…  “I withdrew money from my IRA for a first time home purchase.  The amount was over $10,000, the lifetime maximum. Can any of the portion over the $10k mark be attached to my wife’s name?  In effect, could we get a $20K early withdrawal penalty exemption […]

Ask TaxMama Issue 522 – The Book of Life

Dear Family, This week has flown by. We’ve all been so busy. Lots to catch up, finishing up tax returns for the end of tax season, designing new tools for you to use next year, designing a new TaxMama site to replace the old, stagnant version that’s been up for a decade or more…and processing […]

QuickBooks 2008 – Update – additional Resources

NEWS FLASH! QuickBooks releases useful customization tips compiled from feedback Intuit’s received from experienced QuickBooks customers. Here are three customization videos on YouTube that you could use as well. Basic Customization Additional Customization I Additional Customization II ——- Ah yes, just what the world needs – another edition of QuickBooks. Sigh. You know how I […]

Ask Taxmama Issue 447 – Know Your Worth – and Know Your Parents

Dear Family, OK I’m lying. Yesterday was really International Mother Language Day, not today. But I like the concept of the richness of culture. And I love languages and want to encourage everyone to learn the languages of their parents and grandparents. And so, we honor the day, a little late. Speaking of parents and […]

Do You Ever Have one of Those “I Hate My Job” Days?

When you have an “I Hate My Job” day, try this: On your way home from work, stop at your pharmacy and go to the thermometer section and purchase a rectal thermometer made by Johnson & Johnson. Be very sure you get this brand. When you get home, lock your doors, draw the curtains and […]

TaxMama’s Tax Quips and Egg Donor

Today TaxMama hears from Puzzled in San Francisco, CA who wants to know: “My financial advisor told me there is a great deal of uncertainty with regard to egg donor compensation. Many egg donor boards mention that if the compensation if considered “pain and suffering” then it’s not taxable. I would much rather keep the […]