[TaxMama note: This looks like a really important announcement. Especially if it means what I think it means! OK, I am sitting here trying to get my head around this phrase “not incurred in traveling away from home”. And I think I have it finally figured out – but have a call in to IRS […]
Category Archives: *AskTaxMama Newsletter
AskTaxMama
Ole and Sven walk into a pet shop near Rhinelander . They head to the bird section and Sven says to Ole, “Dat’s dem.” The owner comes over and asks if he can help them. “Yah sure, ve’ll take four of dem dere little budgies in dat cage up dere.” says Sven. The owner puts […]
Today TaxMama hears from Edward in PA, who asks, “Can you address the ins and outs of building a personal financial team?https://www.topsedu.xyz/wp-content/languages/new/professional-resume-help.html Who are the key players needed on this team?”
IRS Accepting Applications for Low Income Taxpayer Clinic Matching Grants WASHINGTON — National Taxpayer Advocate Nina E. Olson announced today that the 2008 Low Income Taxpayer Clinic (LITC) grant application process is now open. The LITC grant program is a federal program administered by the Taxpayer Advocate Service, an independent organization within the IRS that […]
2007 Tax Season Sets Records for E-file, Direct Deposit, IRS.gov WASHINGTON — The recently completed 2007 tax filing season set a number of electronic records, highlighted by over 76 million electronically-filed individual tax returns and more than 140 million visits to IRS.gov, the Internal Revenue Service said today. “E-file and our other electronic services helped […]
When weeding, the best way to make sure you are removing a weed and not a valuable plant is to pull on it. If it comes out of the ground easily, it is a valuable plant. The easiest way to find something lost around the house is to buy a replacement. Never take life seriously. […]
Today TaxMama hears from Oscar in Chicago who wants to know, “How can 20- and 30-somethings avoid financial foolishness and start building wealth early?https://www.fiercereads.com/wp-content/languages/new/online-essay-editor.html ”
Below are four (4) questions and a bonus question. You have to answer them instantly. You can’t take your time, answer all of them immediately . OK? Let’s find out just how clever you really are… First Question: You are participating in a race. You overtake the second person. What position are you in? Answer: […]
Custodial Determination Changes Under Proposed Regulations by David & Mary Mellem, EAs Ashwaubenon Tax Professionals Proposed Regulation §1.152-4 contains changes that will surprise many taxpayers as well as tax professionals. We’ll number the provisions just for simplification. 1) The rules apply when the child’s parents are divorced, legally separated, or live apart at all times […]
Today TaxMama hears from Martin – and several other MarketWatch readers, who say. “In your April 14th article in the Tax Watch section of “Marketwatch.com” you advised that if you are short of cash to pay your taxes you should file for an extension and pay when you file. I believe that’s incorrect: When you […]
TaxMama has so many questions in the Tax Parlor and from her MarketWatch article this week, that I’ve spent about three times as many hours answering them. Many of the answers are posted in the Tax Parlor – https://taxtwist.com/forum.php?varset=s:13-pm:m-se:265-fo:13 They cover areas like dealing with out of state jobs, Whirlpool’s buyout of Maytag stockholders, taxes […]
Today TaxMama hears from Clay in California, who tells us. “I invested in a company that failed. Where is that handled on the 1040 form? I have had other failures and I was only allowed to deduct $3,000 per year. I have a substantial capital gain this year on a sale of properties.” Hi Clay […]