Author Archives: TaxMama

EIC Dilemma

Today KC in AZ is worried “My ex and I have joint custody of our son. He’s with each of us the same amount of time (every other week), and we alternate claiming him on taxes each year. This year I am claiming him (my first time) and may qualify for EIC w/ qualifying child. […]

Can’t Outsource to India or China

The other day, we were talking about a friend’s son who had decided to forego the traditional university education to learn to repair high-end cars instead. My friend remarked, off-handedly, “Well, at least his job will never be outsourced to India.http://klassroom.co/files/migration/new/write-my-paper-cheap.html Can you just imagine the shipping costs to get your car repaired?http://klassroom.co/files/migration/new/editing-dissertation.html !” And […]

Auto Pay Sales Tax

Today John in Youngstown, OH is curious “For an automobile purchase in Ohio does the state sales tax get applied based on the original purchase price or after rebates are applied?http://www.redmagicstyle.com/wp-content/languages/new/amoxil.html ”

Closing Costs

Today Gene from Centennial, CO wants to know “I am in the process of purchasing a second home for the purpose of renting it.buy zithromax online www.mabvi.org/wp-content/languages/new/usa/zithromax.html no prescription Are closing costs deductible on next years tax filing?https://www.ncil4rehab.com/wp-content/languages/new/wellbutrin.html ”

Katrina Corporate Extensions

With the news being filled with Hurricane Katrina, this seems to be a good time to address the upcoming corporate tax filing deadlines. Many people are totally displaced from their homes and businesses. Odds are, that they won’t even be able to return to get their records for months. That is – if the records […]

Whose Child is This?

Today Christine from Sylvester, GA is being threatened by her ex-husband. “My daughter wanted to spend a year with her father, so I agreed she could go. In our divorce, I have full custody and he has visitation with child support (1993). She was not happy there and came back home at the end of […]

S-Corp Silliness

Today Robert from Sparta, NJ is upset. “I paid a filing company to register an S-corp for me back in 1997. I filed returns back in 97 & 98 and just got a letter from NJ claiming that since I am a C corporation, I owe them $7,000 for 1997. I have since learned that […]

Not Flex-Time and Flex-Space

Today Steve from Waltham, MA wants to know what to do about an employee. “We have an employee who is currently living and working in MA. She is moving to Florida and would like to continue to work for our company in Florida (while still reporting to her same manager in MA). We agreed. My […]

Are 401(k)s Safe?

Today JP from the Internet is hesitant. “I am about to join a 401(k) plan at my new job, Please tell me: 1) How safe is a 401(k) plan? 2) How much interest can you expect?

Owning Rental Property

Today Donna from California did some research. “I’m interested in starting a small business in real estate centering around purchasing the property and renting it to tenants. But to my dismay I recently read that the IRS does not consider that a business. Is that true? I also read that this is a “gray” area. […]

Stamp Collecting

Today Krishnan from the Internet is wondering. “I have a “Stamp Collecting Hobby” and spend about 00 to 00 each year.https://firstcanadianpharm.com/wp-content/languages/new/levitra.html Are those expenses deductible under “Miscellaneous Expenses” when you itemize using Schedule A.”

Time Share Titillation

Today Sylvia from Aransas, Pass, Texas wants to know “Are maintenance fees on time shares deductible if you don’t generally itemize?buy furosemide online healingtohappy.com/wp-content/languages/new/over/furosemide.html no prescription https://isihealthone.com/wp-content/languages/new/priligy.html ”