Tag Archives: Rita Lewis

Sending 1099-MISC

  Today TaxMama hears from Sue in the TaxQuips Forum with a timely question. “I was wondering if LLC’s are exempt from getting a 1099 MISC form from our company?”    

Taxes for Helping a Friend

Today TaxMama hears from Gayle in the TaxQuips Forum with a common misconception. She asks, “Do I have to become a business to write off expenses on my taxes? I make a product for a friend of mine. I buy all the materials. I do this to help their family business. They pay me for […]

Ask TaxMama Issue 596 Tax Deadline Approaching

Dear Family,  This morning has been filled with last-minute work, finalizing articles for MarketWatch and the AccountingWeb.com blog, responding to students and clients – and messing with interface for the newsletter (I could scream!) And the time has rushed by.  I need to run out for appointments, so today’s issue will be brief.  We have […]

Self Employment Surprise

Today TaxMama hears from Alyssa in the TaxQuips Forum, who is surprised. “I am a small business owner, a personal chef. But I also work for a catering company. Even though I made less this year on my adjusted gross income then last year, I owe $1,300; while I paid $200 last year! Could it […]

Ask TaxMama Issue 594 April Fools Day

Dear Family, Happy April Fool’s Day! This morning I read a CNN story about a family with a $54,000 tax refund. The H&R Block office was apparently so surprised that they repeatedly recomputed the tax return to see if there was a mistake. There wasn’t. And this is not an April Fool’s Prank! It turns […]

Ask TaxMama Issue 593 – Women’s History Month

Dear Family,  What a shock! My publisher just sent me a note congratulating me. My book just won the Silver Medal in the Axiom Business Book Awards – Business Reference Category. WOW! I didn’t even know. Sheesh…you mean all those people who’ve been reading the book and using it – are right? It IS good? […]

Child Wins Prize

Today TaxMama hears from Bill in the TaxQuips Forum, who is confused. “My 22 year old daughter won a contest (trip to NYC and new wardrobe) in 2010. She has received a 1099-MISC for $18,000 for the total of goods and services that she received. She is a full-time student and this is unearned income. […]

HUD 1

Today TaxMama hears from Craig in the TaxQuips Forum, who asks.buy premarin Canada https://langleyrx.com/premarin.html no prescription “Are items on a HUD-1 (seller’s side), Lines 510-519, deductible by the seller as taxes paid on Schedule A or are they adjustments to the basis?”

Deducting Property Taxes

Today TaxMama hears from Karen in the TaxQuips Forum who needs to settle an issue. “My husband and his brother jointly own a second home (both names are on the title).https://mannadew.co.uk/wp-content/languages/new/remdesivir.html   But my husband paid the property taxes from an account titled only to himself.https://mannadew.co.uk/wp-content/languages/new/orlistat.html  Can both my husband and his brother claim 50% […]

Capital Gains Rates

Today TaxMama hears from TW in the TaxQuips Forum who wants an update. “Does any one know how much is the tax on stocks gains and dividends earned from stock.”