Today TaxMama hears from Robert in Texas who has a generous grandfather. “My 99 year old grandfather who lives in California, sold his residence for $250,000. He wants to gift $100,000 to each of his two daughters and keep $50,000 for himself. Can he gift this amount without triggering tax problems?”
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Today TaxMama hears from Mike in New York City who’s got this question. “If you’re 65 or older and still working, does it still pay to open an IRA and get insurance coverage in case of disability? I have neither.”
The other day I got this e-mail from . It talked about a watch that had me drooling. Not only is this watch water-resistant to 20 meters, it’s also a USB memory storage device that holds 2 GB of data! Of course, I can only wear one watch at a time, so it’s out of […]
Today TaxMama hears from Jim in Missouri who’s come up with a winner. “I am on the board of directors for a Lutheran school. We wish to enter a raffle for a prize (car, jewelry, etc.), then offer whatever what is won at our annual dinner/silent auction night. If we win one of the items […]
Today TaxMama hears from April in NJ who has this question.https://www.sinverrugasylunares.com/wp-content/languages/new/lexapro.html “We plan to buy a lot from our friend.https://www.sinverrugasylunares.com/wp-content/languages/new/cipro.html We are buying it for $150,000. Do we just pay him the $150,000? Or do we have to add our state’s 7% sales tax on to the price?”
Dear Family, This week is the 515th anniversary of the start of Christopher Columbus’s voyage – when he discovered the Americas. That was a very exciting discovery for Europeans who needed a political and economic safety valve, since life in Europe and England was so oppressive in those days. Naturally, those already living in, what […]
This is in response to the e-letter I sent to Farmers Insurance’s President, Paul N. Hopkins The subject line read: Paul N. Hopkins – Consumer Complaint I got the following apology from someone named, Bill Matlock. I believe that he is Farmers State Executive Director. But I could be wrong. He didn’t include his signature, […]
IRS Seeks Comments on Updates to Corporate and Partnership Tax Forms WASHINGTON — The Internal Revenue Service has released for comment and discussion draft revisions to Form 1065, U.S. Return of Partnership Income, and Form 1120, U.S. Corporation Income Tax Return. The IRS plans to have the forms and related schedules ready for use for […]
by Marc Cenedella President and CEO of TheLadders.com You see, a resume is a sales document. And because we are too close to ourselves—after all, who spends more time with you than you—it’s difficult for you to get the distance, perspective, and balanced picture of your achievements that is absolutely critical for you to sell […]
[TaxMama Note: $245 billion (71%) of the Tax Gap results from individuals who under-report their income, over-report expenses, don’t pay tax, or file tax returns, IRS estimates that non-filers account for about $25 billion of the Tax Gap. And that over $100 billion is caused by small businesses. I tell you this just so you […]
A new priest, born and raised in Texas, is nervous about hearing confessions, so he asks the older priest to sit in on his first sessions. The new priest hears a couple of confessions, and then the old priest asks him to step out of the confessional for a few suggestions. The old priest suggests, […]
Today TaxMama hears from Manny in NY has a question that comes up often.buy zithromax online pridedentaloffice.com/wp-content/languages/new/over/zithromax.html no prescription “I will be buying a house in NYC and my wife inherited six figures from her grandfather.https://www.playavistaorthodontics.com/wp-content/languages/new/premarin.html We plan to use that money for the down payment.https://www.playavistaorthodontics.com/wp-content/languages/new/cialis.html Is this inheritance tax free? Or will it be […]