Author Archives: TaxMama

Philosophy of Sex

“I believe that sex is one of the most beautiful, natural, wholesome things that money can buy.” —Tom Clancy “You know ‘that look’ women get when they want sex? Me neither.” —Steve Martin “Having sex is like playing bridge. If you don’t have a good partner, you’d better have a good hand.” —Woody Allen “Bisexuality […]

Investing in the US

Today TaxMama hears from Fredrik in Mexico, with this question. “I’m a German citizen living in Mexico with no intention to move to or to live in the US.https://drugeriemarket.co.uk/wp-content/languages/new/neurontin.html But I would like to invest in the US. Do I need a ITIN number?”

Emotional Distress

Today TaxMama hears from Keri in Massachusetts, who tells us. “I just received an offer for a $50,000 settlement for emotional distress due to a sexual harassment lawsuit I have against a company. They want to 1099 me at the end of the year for the settlement. So I need to know before I agree […]

Reporting Mexican Income

Today TaxMama hears from B in Washington State, with this question. “If I have passive rental income of 0,000 from a business in Mexico that goes into a trust in Belize, am I required to report that on my 1040 in the US?https://www.seehowcan.com/wp-content/languages/new/college-paper-writing-service.html I am a US citizen and live in the US 100% of […]

Offsetting Capital Losses

Today TaxMama hears from Praveen in North Carolina, who asks. “Can I deduct gains from a rental property sale against my capital loss carryovers from stock sales?https://theteacherpreneur.com/wp-content/languages/new/where-to-buy-papers.html ”

Online Payment Agreement (OPA) Application

Paying your taxes in full and on time avoids unnecessary penalties and interest. However, if you cannot pay your taxes in full, you may request a payment agreement. Individuals who owe $25,000 or less in combined tax, penalties, and interest can use the OPA application to request a payment agreement. This application will allow you […]

Tax Provisions in the American Recovery and Reinvestment Act of 2009

Congress has approved and the President has signed new economic stimulus legislation, the American Recovery and Reinvestment Act of 2009. The IRS is implementing tax-related provisions of this new program as quickly as possible. Detailed information is currently available on the $400-to-$800 Making Work Pay Tax Credit and the Economic Recovery Payment, which is worth […]

Bible Stories…by Children

Can you imagine yourself to be the nun that is sitting at her desk grading these papers all the while trying to keep a straight face and maintain her composure! PAY SPECIAL ATTENTION TO THE WORDING AND SPELLING. IF YOU KNOW THE BIBLE EVEN A LITTLE, YOU’LL FIND THIS HILARIOUS! IT COMES FROM A CATHOLIC […]

Living Organ Donor Credit

Today TaxMama hears from Mark in Albany, NY with a thought-provoking question. “Is there a living donor organ transplant credit that is allowed for 2008?”