Dear Family, The morning is just zipping along. I keep checking to see if the government has come to a budget agreement yet. But, we just wrapped up the WSJ Digital Tax Show without an agreement in sight. Unfortunately, that doesn’t mean you have extra time to file your tax return. Nope. You’re still going […]
Author Archives: TaxMama
California conforms to the exclusion of nondependent health care benefits (04-07-2011)The Governor has signed AB 36 (Perea), which excludes employer-provided health insurance for nondependent adults under the age of 27 from California income tax. The bill brings California into conformity with the federal exclusion enacted under the Health Care Act in 2010. (Act §1004; IRC […]
Courtesy of IRS Are you expecting a tax refund this year? Here are 10 things the IRS wants you to know about your refund.
Courtesy of IRS [But read TaxMama’s Tips at Suze Orman’s MoneyMindedMoms.com site – if you need even MORE time! And don’t like IRS’s options.] Taxpayers who owe taxes may be relieved to know that there are some options for those who owe and can’t afford to pay the full amount right away. Here are the top […]
The Lone Ranger was ambushed and captured by an enemy Indian war party. The Indian Chief proclaims, “So, you are the great Lone Ranger. In honor of the Harvest Festival, you will be executed in three days. But, before I kill you, I will grant you three requests. What is your first request?”
Today TaxMama hears from Jeff in the TaxQuips Forum, who is unclear on the concept. Let’s look at just a portion of what he said. Jeff said, “My S-Corp does not have a separate checking account.”
Today TaxMama hears from Jenna in the TaxQuips Forum, who needs help. “I work as a cosmetologist. I am considered self-employed and rent a chair in a local salon. I give free haircuts throughout the year during my normal business hours. Could these haircuts be tax deductible? If so, would they be considered advertisement or […]
Today TaxMama hears from James in the TaxQuips Forum, with an Oopsie! “I received a 1099-R reporting a disbursement from a retirement account I forgot I had taken – the day after I filed my return. I have yet to receive my refund. Since I claimed injured spouse status, I probably won’t receive it until […]
Today TaxMama hears from Alyssa in the TaxQuips Forum, who is surprised. “I am a small business owner, a personal chef. But I also work for a catering company. Even though I made less this year on my adjusted gross income then last year, I owe $1,300; while I paid $200 last year! Could it […]
Dear Family, Happy April Fool’s Day! This morning I read a CNN story about a family with a $54,000 tax refund. The H&R Block office was apparently so surprised that they repeatedly recomputed the tax return to see if there was a mistake. There wasn’t. And this is not an April Fool’s Prank! It turns […]
Courtesy of IRS The IRS wants taxpayers to be aware of tax scams. These scams are illegal and can lead to problems for taxpayers including significant penalties, interest and possible criminal prosecution. The schemes take several shapes, ranging from promises of large tax refunds to illegal ways of “untaxing” yourself. Here are three important guidelines […]
1. You accidentally enter your password on the microwave.https://alvitacare.com/wp-content/languages/new/zithromax.html 2. You haven’t played cards with your friends in person in years. 3. You have a list of 24 email addresses and Twitter accounts to reach your family of 3.