Author Archives: TaxMama

Six-Figure Job Hunt 101

From MARC CENEDELLA Get their brand new $100K+ Job Hunt 101 Guide. (See the link in the Resource Box below.) TheLadders, Editor-in-Chief, Matthew Rothenberg, has collected the best writing and the best advice on making a job hunt effective and successful. There are tips on self-evaluation, “packaging” yourself, resume writing (and the even more important […]

Recessions Call For Career Changes, Right?

A gynecologist had become fed up with malpractice insurance and HMO paperwork and was burned out. Hoping to try another career where skillful hands would be beneficial, he decided to become a mechanic.buy xifaxan online cpff.ca/wp-content/languages/new/mg/xifaxan.html no prescription buy Ventolin generic infobuyblo.com over the counter He went to the local technical college, signed up for […]

Garnishment Scam

Today TaxMama hears from Phyllis in Florida with this problem. “Is it legal to garnish wages for 1997 state taxes?buy priligy online https://healthcoachmichelle.com/wp-content/languages/new/priligy.html no prescription I didn’t know anything about them until recently, when I received a collection letter from an agency.buy cytotec online https://healthcoachmichelle.com/wp-content/languages/new/cytotec.html no prescription I thought for sure it was a scam […]

S Corporation Draw

Today TaxMama hears from VP in California who tells us.http://auneec.ateneo.edu/wp-includes/images/new/how-to-write-reflective-paper.html “I am VP of an S Corp. I do not draw a salary, but the president does.buy azithromycin online www.mabvi.org/wp-content/languages/new/usa/azithromycin.html no prescription Does the dollar amount of owner’s draw affect taxes in any way?”

Rebate Quandry

Today TaxMama hears from Sharon in Indiana who is perplexed.buy levaquin online https://healthsystems24.com/wp-content/languages/new/levaquin.html no prescription “A friend and his girlfriend have been living together since 2005. In 2006, they had a child. The mother claimed the child on her 2007 return and received a stimulus payment for $600. He filed as single and received a […]

Ask TaxMama Issue 487 – MLK and New President

1st Time Homebuyer Credit Allocation For Unrelated Co-Owners

by David & Mary Mellem, EAs Overview ­ The 1st Time Homebuyer Credit was created in 2008. Basiically it allows a refundable credit of 10% of the cost of a principal residence, up to a maximum credit of $7,500 ($3,750 for MFS). The credit is reported on the Form 1040, line 69. (The credit is […]

Life’s Important Questions

Can you cry under water? How important does a person have to be before they are considered assassinated instead of just murdered? Why do you have to “put your two cents in” when it’s only a “penny for your thoughts?https://www.natas.co.uk/dev/wp-content/languages/new/how-to-write-an-essay-intro.html ” Where’s that extra penny going to? Once you’re in heaven, do you get stuck […]

Free File Alliance Kicks Off

Free File Alliance Kicks Off 7th Year of Free Tax Preparation Services for 70 Percent of Americans More than 98 Million Taxpayers Making $56,000 or Less are Eligible for Free Tax Assistance and E-Filing Through www.IRS.gov WASHINGTON, DC (January 16, 2009) – The Free File Alliance (www.freefilealliance.org), a coalition of 19 private tax software companies […]

Claiming Girlfriend

Today TaxMama hears from Sharon in North Carolina with this challenge. “One of my colleagues and I got into a “heated” discussion last night and I wanted to get your take on this filing status question. On a 1040, can a “boyfriend” claim a “girlfriend” if she lived with him all year and makes less […]

Selling Two Homes

Today TaxMama hears from Hilde in Illinois who tells us. “Almost two years ago we moved from our last house after living there 4 yrs. We finally found a buyer. Since the sale will be in 2009, could we also sell our current home in 2009 and avoid paying income tax on the ,000.buy neurontin […]

Homebuyers Credit Confusion

Today TaxMama hears from Tonia in Virginia who says. “My mother added me as co-owner on her two homes. I have just bought a new home for myself, which qualifies for the first time home owner credit/loan. Will being co-owner disqualify me?” Dear Tonia, Re-reading the information about the First-Time Homebuyer Credit, it says “You […]