Today TaxMama® hears from KP in the TaxQuips Forum, with this question. “My sister-in-law received a 1099-Misc with an amount in box 6 for medical health care payments for providing care for her husband, a veteran receiving VA benefits. I know the amount is taxable to the federal government, but is it subject to social security […]
Today TaxMama® hears from RJ in the TaxQuips Forum, with a travel question. “I am a single member LLC. I have a long-term (3 year) out-of-state contract, which requires me to be physically onsite at the client’s location 75% of the time (3 weeks per month). I am currently renting an apartment and deducting the […]
Dear Family, Odd-funny things keep happening around here. Like scraping ice off my windshield – in California! Like going to our breakfast meeting and the restaurant is closed. Like the IRS press release that that help and information is available in Spanish – but the press release was in English. Like my friend sending me […]
I just received my tax return for 2012 back from the IRS. Not clear why. I am confused! They are questioning how many dependents I claimed. I guess it was because of my response to the question: “List all dependents?”
Courtesy of the National Association of Enrolled Agents NAEA’s E@lert’s holiday present to readers and taxpayers is a one-week reprieve on Taxmageddon. The short version is that negotiations are ongoing and largely behind closed doors. Shifting gears a bit, we have news about the tax writing committees. At the start of the 113th Congress (the […]
Today TaxMama® hears from Bill in the TaxQuips Forum. Bill insists that for payments made in 2012, we do not have to send 1099s to corporations. TaxMama says, she just read that corporations DO get 1099’d. Who is correct?
This is a plea from Chris Reed, who is asking for your help. Family, Friends, Current and Former Patients, Many of you know that I have become heavily involved in the politics of my profession. I am writing to ask your help. We are fighting for our profession right now. I have attached a letter […]
Today TaxMama® wants to address some political craziness. This year’s presidential campaign is getting out of hand. On the Senate floor, Senate Majority Leader Harry Reid (D-NV) recently stated that a “reliable source” has revealed that Romney hasn’t paid federal income taxes in the past ten years. Kelly Phillips Erb, (otherwise known as TaxGirl) writes […]
Courtesy of CCH, a Wolters-Kluwers company New CCH Tax Briefing Examines Key End-of-Year Issues (RIVERWOODS, ILL., May 4, 2012) – Will this be the last year of the Bush-era tax cuts? For now, uncertainty remains over whether Congress will extend all or some of the tax cuts and incentives set to expire at the end […]
Today TaxMama® hears from Ken in the TaxQuips Forum with this happy news. “Several years ago I worked for a company that ran out of money and couldn’t make payroll. I continued to work for several months with the promise that the wages would be paid. Eventually, I requested a layoff and left the company. […]
The Japanese eat very little fat and suffer fewer heart attacks than the British or Americans. On the other hand the French eat a lot of fat and also suffer fewer heart attacks than the British or Americans.
Free tax return preparation assistance is available for eligible military members and their spouses. The IRS and U.S. Armed Forces participate in the Volunteer Income Tax Assistance program, which provides free tax advice, tax preparation, return filing and other tax assistance to military members and their families. Here are five things you need to know […]