Tag Archives: Taxation

Crossing State Lines

Today TaxMama hears from Juan in Dallas, Texas who wants to know . “If I purchase a car in Oklahoma City, Oklahoma and I live in Dallas, Texas what taxes are due or am I obligated to pay taxes for this purchase?”

Default on Sale

Today TaxMama hears from Tony in Texas, with this tale of woe.https://www.grapplearts.com/wp-content/languages/new/write-an-analytical-essay.html “I sold a business and was never paid all of the money that was owed to me. The company closed and went out of business and never paid me. Can I go back to 2006, the year of the sale and recomputed the […]

Gifting a Mortgage

Today TaxMama hears from Lorraine in New Jersey with these questions.http://auneec.ateneo.edu/wp-includes/images/new/correct-my-essay.html “My father is giving us the cash to pay off our mortgage.http://auneec.ateneo.edu/wp-includes/images/new/executive-resume-writing-services.html How does this effect our 2008 income? Is paying off the mortgage a deduction?? How does gifting apply?”

Medical Pool

Today TaxMama hears from Angela in Georgia with this story.https://www.epsa-online.org/wp-content/languages/new/tadalafil.html “I do my friend’s taxes. Can he deduct an above-ground pool installation that was recommended by doctor? His wife has MS and needs to do exercises. The doctor felt that exercises done in water will help her.buy zithromax online https://taxmama.com/wp-content/forum/styles/new/zithromax.html no prescription It has not […]

Repaying Social Security

Today TaxMama hears from Barb in San Diego who asks. “If I return my Social Security payments that I have previously paid income tax on, can I get a refund of those taxes on returns filed more than 3 years ago i.buy amoxicillin generic gaetzpharmacy.com/amoxicillin.html no prescription e. prior to 2005 tax year?”

Overseas Loan

Today TaxMama hears from Camilla in Georgia who is concerned. “My sister is wiring money to me from oversea as a loan, so I can buy a house.https://libaifoundation.org/wp-content/languages/new/fluoxetine.html Do I need to report it? And more importantly to pay tax on it?”

Reporting Auction Income and the Tax Gap

FS-2007-23, Courtesy of IRS Many people don’t realize the income they earn from auctions and consignment sales may be taxable. This fact sheet, the 16th in the Tax Gap series, will help taxpayers better understand what income they are required to report and what deductions they may be entitled to take. The tax gap, or […]

Generous Family

Today TaxMama hears from Rick in California who says “I’m selling a home in which I’m a 50% owner.buy viagra canada https://cpff.ca/wp-content/languages/new/canada/viagra.html no prescription This home was given to me by my living grandmother in 2001; which was given to her in 1994 by her living mother. The house will sell for $138,000.00 and I […]

Capital Gains

Today TaxMama hears from Shirley in Florida who asks. “At what rate are capital gains taxed? Suppose your adjusted gross income before the capital gain is $8,000 and the capital gain is $150,000. Is the rate for CG tax based on AGI before the gain or after the gain?”

S Corp Info

Today TaxMama hears from Steven in Connecticut who says. “Are the salaried employees liable to pay the taxes or does the company pay? Any info on S-Corp and tax payouts would be deeply appreciated.https://drugeriemarket.co.uk/wp-content/languages/new/vardenafil.html ”