Today TaxMama hears from Jeff in Florida who is concerned. “Don’t you have to show an income with a small business at least one year out of five? My girlfriend has a small business that has shown a NOL for the past three years.https://www.giveapint.org/wp-content/languages/new/cymbalta.html ”
Author Archives: TaxMama
Today TaxMama hears from Joe in Maryland with an interesting problem. “I have been offered a great job but I am a little concerned about having to move from my home to the home that is owned by the company that wants to hire me. I will be required to reside in the company home […]
Today TaxMama hears from Mark in West Virginia with this problem. “The IRS thinks I owe them money from 1999. I have proof to the contrary, but they say I can’t file a 1040x after 3 years. Even the Tax Advocates told me that. My father acting as my power of attorney filed it through […]
Today TaxMama hears from Mike in Pennsylvania who wants to know.buy amoxicillin online www.calmandgentledentalcare.co.uk/wp-content/languages/new/uk/amoxicillin.html no prescription “How far back can I submit an amended return?”
Dear Family, Well, I’m baaaaack! It’s always really nice to take some time off and totally disconnect from phones and computers, isn’t it? We’ve been to Paradise and back. Along the way we saw a 9-foot pizza being designed; strawberry pizzas being hawked; pizza-shaped hats; a ratapult tossing stuffed rats; an array of medieval garments […]
IRC §280F (listed property) provides ceilings on the amount of depreciation and §179 that can be claimed on passenger automobiles, light duty trucks and vans. The limitations listed below are multiplied by the taxpayer’s business use of the vehicle. The amounts for passenger automobiles placed in service in 2009 differ slightly from the amounts for […]
Courtesy of NAEA – National Association of Enrolled Agents President Barack Obama and his wife, Michelle, on Wednesday released their MFJ tax return. The first couple reported about $2.7 million in income for 2008, mainly from book sales. President and Mrs. Obama paid about $855,000 in federal income taxes. In a release, the first family […]
A disappointed cola salesman returns from his assignment in Israel. A friend asked, “Why weren’t you successful with the Israelis?” The salesman explained, “When I got posted in the Middle East, I was very confident that I would make a good sales pitch in rural areas. But I had a problem. I didn’t know how […]
Dear Family, Thank you! Thank you! Thank you! Thank you! A milestone today – Ask TaxMama issue number 500. And it turns out to be TaxQuip number 1200! This has been an intense tax season, with the tax laws changing on us, seemingly every few days. I really want to thank all of you for […]
IR-2009-41, April 13, 2009 WASHINGTON — The Internal Revenue Service today issued its 2009 “dirty dozen” list of tax scams, including schemes involving phishing, hiding income offshore and false claims for refunds. “Taxpayers should be wary of scams to avoid paying taxes that seem too good to be true, especially during these challenging economic times,” […]
The updated IRS Construction Tax Center is a one-stop resource for tax information aimed specifically at the construction industry.https://www.parkviewortho.com/wp-content/languages/new/clomiphene.html https://www.irs.gov/businesses/small/industries/article/0,,id=185182,00.html Our Industries/Professions site has information about many other areas of business. https://www.irs.gov/businesses/small/industries/index.html Have you visited SBTV – www.sbtv.com ? Coming up: Income from online auctions and an interview with the National Taxpayer Advocate are featured […]
As part of the American Recovery and Reinvestment Act, small businesses with a net operating loss in 2008 may elect to offset this loss against income earned in up to five prior years instead of two. The deadline to make the election to use this special carryback is April 17, 2009. See links in the […]