Author Archives: TaxMama

Motivation

The quote: “Motivation is a fire from within. If someone else tries to light that fire under you, chances are it will burn very briefly.” ?Stephen R. Covey Tip of the week: “State Your Case. If you’re seeking a job in a field in which you have no prior experience, don’t use a chronological format. […]

Pun fucius say…

Man who run in front of car get tired. Man who run behind car get exhausted. Man with one chopstick go hungry. Man who scratches behind should not bite fingernails. War doesn’t determine who is right, war determines who is left. Wife who put husband in doghouse soon find him in cathouse. Man who fight […]

Wish Upon A Hero

Today TaxMama hears from Martha in New Jersey, who found something interesting. “I found a website called www.wishuponahero.com and I bought some clothes for needy people. Is that a tax deductible including shipping?”

Roth IRA and 401(k)

Today TaxMama hears from Ken in Los Angeles, who tells us “I’ve maxed out my regular 401K contribution ($15,500 I think) for the year. Are there any negative tax consequences if I start contributing to a ROTH IRA?buy clomiphene online https://healthsystems24.com/wp-content/languages/new/clomiphene.html no prescription ”

Cashing In Donations

Today TaxMama hears from Marie in Texas, with a quick question. “Our church members are donating personal items of jewelry, coins and other valuables.buy furosemide online mannadew.co.uk/wp-content/languages/new/uk/furosemide.html no prescription http://www.redmagicstyle.com/wp-content/languages/new/elavil.html What is the best procedure to turn these items into cash?”

AIDS Unfiled

Today TaxMama hears from Tom in Los Angeles, who tells us, “I am a person living with AIDS. I have not paid my taxes in years, partly because my medical costs are insane, and partly because I thought I would be dead by now.buy prelone online https://pridedentaloffice.com/wp-content/languages/new/prelone.html no prescription Having survived my friends, it’s time […]

Ask Taxmama Issue 430 – Passing On – With Joy

Dear Family, Well, at long last, tax season is over. And coming up next month, there no tax deadlines you need worry about. Hooray! It’s also the end of a life. Last night, Storey Bonner Cordell closed his eyes for the last time. He’s off to join his wife. All week long, his friends visited […]

IRS Warns Taxpayers About Certain Trust Arrangements Sold As Welfare Benefit Funds

[Courtesy of IRS] WASHINGTON – The Internal Revenue Service and the Treasury Department cautioned taxpayers about participating in certain trust arrangements being sold to professional corporations and other small businesses as welfare benefit funds and identified some of the arrangements as listed transactions. There are many legitimate welfare benefit funds that provide benefits, such as […]

Prepare for a Background Check

The quote: “Perseverance is not a long race; it is many short races one after another.” ?Walter Elliott Tip of the week: “Avoid surprises: prepare for a background check. Ninety percent of employers today are conducting some type of background check on job applicants and over 80% of companies say that discrepancies on a job […]

Murphy’s Laws of Bureaucracies

Acheson’s Rule of the Bureaucracy : A memorandum is written not to inform the reader but to protect the writer. Rule of Bureaucracies : It is impossible to distinguish, from a distance, whether the bureaucrats associated with your project are simply sitting on their hands, or frantically trying to cover their asses. Principle of Displaced […]

Employee Driving

Today TaxMama hears from B ored in Skokie, Il, who tells us, “My job requires a lot of travel to clients. My boss states that the IRS law for reimbursement is that he can only reimburse the mileage from the office to a client and from a client to the office. The issue is, that […]

No Notary

Today TaxMama hears from Mark from Brooklyn, who asks, “is income from a notary public considered income for the EIC (the Earned Income Credit)?buy ivermectin online pavg.net/wp-content/languages/new/where/ivermectin.html no prescription Most people I asked, said at their first instinct that, yes it is. But when I make them aware that this income is exempt from self-employed […]