Tag Archives: Tax reform

Sales Tax On Purchases

Today TaxMama hears from Sam in Texas who asks. “A construction company pays sales tax when it purchases items from places like Home Depot. Everything it buys is used in customer’s homes, like carpets that are installed and then billed to the customer. Does this qualify as re-sale/tax-exempt?”

House Bill Provides Low-Income Tax Benefit, Amt Fix

Courtesy of The National Women’s Law Center www.nwlc.org Bill Closes Private Equity Tax Loophole to Pay for Changes (Washington, D.C.) The U.S. House is expected to vote Friday on a bill that promotes tax fairness and fiscal responsibility by expanding eligibility for the refundable child tax credit, temporarily fixing the alternative minimum tax, and closing […]

Sales Tax on Lot

Today TaxMama hears from April in NJ who has this question. “We plan to buy a lot from our friend. We are buying it for $150,000. Do we just pay him the $150,000? Or do we have to add our state’s 7% sales tax on to the price?”

Clergy Home Building

Today TaxMama hears from the Minister’s wife in Kentucky, who tells us, “My husband’s housing allowance is exempt from taxes. We are currently building a home, while temporarily living with relatives until its completion. Will we be able to deduct any of the expenses from the construction of this new home? For example, we’re already […]

Freelance Project

Today TaxMama hears from Melissa in the Tax Parlor, who tells us , “Hello! I am a real estate agent (independent contractor) and I was just offered a very part time consulting position for a local non-profit neighborhood organization. I will be researching the neighborhood real estate market and reporting back to the non-profit. This […]

Garnished Taxes

Today TaxMama hears from Tony in Ohio who tells us. “I am currently getting garnishments taken out of my wages. Is this refundable? Or do I at least get credit towards filing my next return?” ~~~~ Dear Tony, If your paycheck is being garnished by IRS or your state, that money is going towards paying […]

Uncooperative Coop

Today TaxMama hears from Fred in NY who says, “I live in a co-op that is subsidized by the city in the form of a very low interest mortgage and reduced taxes. A consequence of this arrangement is that we do not build any equity in our shares. The corporation is now “going private” by […]

Self-Employed in LLCs

Today TaxMama hears from Peter in St. Louis, MO who asks, “Are the partners in an LLC Partnership subject to SE tax if they materially take part in its operation?”

Sales Tax On The Road

Today TaxMama hears from Dave in New Hampshire, who asks. “I am a New Hampshire resident, and traveling to the West Coast. I’ve heard that in other states, such as Washington, New Hampshire residents do not have to pay sales tax. Is this true for all other states? If so, what do I do to […]

Sales Tax Online

Today TaxMama hears from Dixon from Louisiana asks, “Could you advise if a company or business in the state of Louisiana is required to pay sales tax on Internet purchases?”