Tag Archives: tax advice

IRS Nationwide “Fresh Start” Open House Set for Saturday July 16

[TaxMama note: If you are still battling IRS over your homebuyer’s credits, use this opportunity to speak to someone face-to-face to help you resolve your case and get your money released!] WASHINGTON –– The Internal Revenue Service will open the doors to dozens of its Taxpayer Assistance Centers across the country this coming Saturday, July […]

Netting Gambling Losses

  Today TaxMama hears from Linda in the TaxQuips Forum who wants to know. “How do I prove to the IRS that we can now net gambling losses against gambling winnings, per day, per gambling establishment, instead of deducting these losses on Sch A?

Unreasonable Rent

  Today TaxMama hears from David in the TaxQuips Forum with this question. “My mother has owned rental property for many years and she has a tenant in one side of a duplex that has been there about fifteen years.  My mother has always been reluctant to raise the rent on “good” tenants so this […]

Did Not File 2006

Today TaxMama hears from Wyetta in the TaxQuips Forum with this problem. “I tried to make a payment arrangement with the IRS for 2010 taxes owed. The IRS told me that I have to file for 2006, before they could offer a payment arrangement. Please instruct me on how to handle this situation – how […]

Filing in Canada

Today TaxMama hears from Todd in the TaxQuips Forum who is unsure. “I have a client who is a U.S. citizen, but has Canadian income. He is a software developer, living in Boulder, Colorado, with Canadian clients. Does he need to file a Canadian return in addition to a US return, or is there some […]

Tax Preparer Errors

Today TaxMama hears from H A in the TaxQuips Forum who is very nervous. (Let me paraphrase the question.) “Her tax preparer made significant errors in her 2010 tax return. She didn’t get to see it before he efiled it. Now, she wants to know if she’s going to get audited and what other trouble […]

Big Loan from IRA

Today TaxMama hears from Kandi in the TaxQuips Forum with a personal opportunity. (Let me paraphrase the question.) “A friend wants to loan me money from his IRA, but is afraid of having to pay all the taxes when he draws the money out. Is there a way to do this and avoid the taxes?”

Tax Payment Strategy

Today TaxMama hears from Kathy in the TaxQuips Forum with an interesting question.  “I thought I read somewhere that I could specify to which year’s taxes I want to apply my payments.  For example, if I owe taxes from 1996 through 1999 and then from 2006, I can apply my payments to the taxes due for […]

A Ridiculous Situation

Today TaxMama hears from MR in the TaxQuips Forum with a stupid problem.  “In the course of a personal audit, IRS made a routine request for an employer letter to verify that his education is not a minimum requirement of the job. MR’s boss at TSA is afraid to write the letter – and is […]

Tax Deductions for Scuba Diving

  Article reprinted with the permission of W. Murray Bradford, CPA   QUESTION:  I sell property and casualty insurance in Florida. I also like to scuba dive. I would like your opinion on whether or not the following is deductible. I  spent five hours with a prospect. First we went on a dive, then we […]