Tag Archives: tax blogger

Californians! Hold Schedule C Returns

 Hold Schedule C returns (02-23-2012) The FTB has changed Schedule CA to reduce the amount of self-employment tax deductible for California purposes. According to the FTB, taxpayers may only deduct 50% of the self-employment tax for California purposes, while they can deduct more than 50% for federal purposes. If the FTB is correct, there will […]

A Moral Dilemma

Here’s a moral question for you. It’s hypothetical but it shows what kind of character you have.  Here’s the situation:   You are in the Midwest, and there is a huge flood in progress. Many homes have been lost, water supplies compromised, and infrastructure destroyed. Let’s say you’re a photographer out getting still photos for […]

Sloppy 1099ing

Today TaxMama® hears from Gary in the TaxQuips Forum who has this problem. Let me paraphrase:  “Gary has already filed his LLC’s tax return, reporting all his income properly. Suddenly, nearly three weeks past the 1099 deadline, he gets a 1099 showing income he received, plus reimbursements for materials and supplies – that were not […]

Winners – First Week – TaxMama’s Ultimate Tax Nerd Contest

The first weekly winners in TaxMama’s search for the Ultimate Tax Nerd of 2012 are Winner of the POPULAR VOTE – Melissa Guy! Winner of TaxMama’s Choice is – Clint Masser, the Running Tax Pro!

2010 401k Rollover

Today TaxMama® hears from Tom in the TaxQuips Forum with this issue.  “I rolled over a 401k directly to a Roth IRA in 2010.  I received a 1099 for this, but did not fill out an 8606 when I submitted my 2010 return. The plan was to report half of the taxable amount in 2011 and […]

Mobile Home Rental

Today TaxMama® hears from Klondike in the TaxQuips Forum with this question.  “In March, I purchased a new mobile home and placed it on property I own. It is skirted with wheels removed and set on cement pillars. My son lives in the home and pays rent. Is it best to depreciate the home for […]

Dirty Dozen Tax Scams

The Internal Revenue Service has issued its annual “Dirty Dozen” tax scams list, reminding taxpayers to use caution during tax season to protect themselves against a wide range of schemes ranging from identity theft to return preparer fraud. The Dirty Dozen listing, compiled by the IRS each year, lists a variety of common scams taxpayers […]

The Etermal Conflict – Who Gets the Child?

A man and his young wife were in divorce court, but the custody of their children posed a problem. The mother leaped to her feet and protested to the judge that since she brought the children into this world, she should retain custody of them.