Author Archives: TaxMama

Interview Techniques – Persistence Counts

A local business was looking for office help. They put a sign in the window, stating the following: “HELP WANTED. Must be able to type, must be good with a computer and must be bilingual. We are an “Equal Opportunity Employer.” A short time afterwards, a dog trotted up to the window, saw the sign […]

Taxable Social Security Income

Today TaxMama hears from Petey in Texas who is concerned. “I had to withdraw about $10,000 for air conditioner replacement and other household maintenance from my annuities. Because of these withdrawals, my taxable Social Security income has gone from $4,800 last year to $13,000. this year. Does this sound right to you? Could I be […]

Forced Sale of Stock

Today TaxMama hears from Tim in Seattle, with an interesting question. “Suppose a person owns stock in Company A that subsequently goes private. They are forced to sell their stock in Company A.https://libertyjuice.com/wp-content/languages/new/priligy.html Is there a way to defer taxes on the involuntary conversion of company A’s stock by reinvesting the proceeds in other stocks […]

Required Minimum Distributions

Today TaxMama hears from David in Arizona who has a good imagination.buy prednisone online https://taxmama.com/wp-content/forum/styles/new/prednisone.html no prescription http://wuafterdark.com/wp-content/languages/new/the-best-day-of-my-life-essay.html “When required minimum distributions for standard IRA accounts begin, can distributions be transferred to Roth-IRA, considering no wage income is available for the year of transfer?http://wuafterdark.com/wp-content/languages/new/hire-someone-to-write-a-paper.html ”

Credit and Debit Card Fees Related to Tax Payment are Deductible

IR-2009-37, April 7, 2009 WASHINGTON — Credit or debit card convenience fees charged for paying federal individual income taxes electronically are deductible for some taxpayers who itemize, the Internal Revenue Service announced today. Federal law bars the IRS from paying any fees associated with these credit or debit transactions. Card processors normally charge taxpayers for […]

Do Motor Scooters Qualify for the New Sales and Excise tax Deduction?

The American Recovery and Reinvestment Act of 2009 provides a deduction for state and local sales and excise taxes paid on the purchase of qualified vehicles from February 17th, 2009 through the end of the year. The deduction does not require a taxpayer to itemize and is means tested (phases out for single filers with […]

IRS Issues Guidance on New Build America Bonds

IR-2009-33, April 3, 2009 WASHINGTON — The Internal Revenue Service today issued guidance on the new Build America Bond program. This program allows state and local governments to issue taxable bonds for capital projects and to receive a new direct federal subsidy payment from the Treasury Department for a portion of their borrowing costs. The […]

The Scottish Secret to Longevity – Golf and a wee dram

An 80-year-old Scotsman goes to the doctor for a check-up. The doctor is amazed at what good shape the guy is in and asks,” “How do you stay in such great physical condition?’ I’m Scottish and I am a golfer,’ says the old guy, ‘and that’s why I’m in such good shape. I’m up well […]

Do Gifts Work Like IRAs

Today TaxMama hears from Steve in Indiana with this question. “Does the gift tax exclusion work like an IRA?https://isihealthone.com/wp-content/languages/new/vibramycin.html In other words, can a gift for 2008 be made in 2009 as long as it’s made before the filing of 2008 tax returns, or some other marker of time?”

Nonbusiness Energy Property Credit

Today TaxMama hears from Gordon in New Jersey who asks, “Can we still claim a tax credit on our 2008 tax return for replacement windows?https://www.thescanfoundation.org/wp-content/languages/new/clomid.html ”