Dear Family, Thank you! Thank you! Thank you! Thank you! A milestone today – Ask TaxMama issue number 500. And it turns out to be TaxQuip number 1200! This has been an intense tax season, with the tax laws changing on us, seemingly every few days. I really want to thank all of you for […]
Category Archives: *AskTaxMama Newsletter
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IR-2009-41, April 13, 2009 WASHINGTON — The Internal Revenue Service today issued its 2009 “dirty dozen” list of tax scams, including schemes involving phishing, hiding income offshore and false claims for refunds. “Taxpayers should be wary of scams to avoid paying taxes that seem too good to be true, especially during these challenging economic times,” […]
The updated IRS Construction Tax Center is a one-stop resource for tax information aimed specifically at the construction industry.https://www.parkviewortho.com/wp-content/languages/new/clomiphene.html https://www.irs.gov/businesses/small/industries/article/0,,id=185182,00.html Our Industries/Professions site has information about many other areas of business. https://www.irs.gov/businesses/small/industries/index.html Have you visited SBTV – www.sbtv.com ? Coming up: Income from online auctions and an interview with the National Taxpayer Advocate are featured […]
As part of the American Recovery and Reinvestment Act, small businesses with a net operating loss in 2008 may elect to offset this loss against income earned in up to five prior years instead of two. The deadline to make the election to use this special carryback is April 17, 2009. See links in the […]
A local business was looking for office help. They put a sign in the window, stating the following: “HELP WANTED. Must be able to type, must be good with a computer and must be bilingual. We are an “Equal Opportunity Employer.” A short time afterwards, a dog trotted up to the window, saw the sign […]
Dear Family, Happy Passover and Easter! Remember…the filing deadline is fast approaching. 5 days left! If you still haven’t finished your tax return, you’re in luck. TaxMama®’s MarketWatch.com article this week deals with last minute tips before April 15th. You’ll find it in MarketWatch.com’s Last Minute Tax Guide over the weekend. Incidentally, if you want […]
IR-2009-37, April 7, 2009 WASHINGTON — Credit or debit card convenience fees charged for paying federal individual income taxes electronically are deductible for some taxpayers who itemize, the Internal Revenue Service announced today. Federal law bars the IRS from paying any fees associated with these credit or debit transactions. Card processors normally charge taxpayers for […]
The American Recovery and Reinvestment Act of 2009 provides a deduction for state and local sales and excise taxes paid on the purchase of qualified vehicles from February 17th, 2009 through the end of the year. The deduction does not require a taxpayer to itemize and is means tested (phases out for single filers with […]
IR-2009-33, April 3, 2009 WASHINGTON — The Internal Revenue Service today issued guidance on the new Build America Bond program. This program allows state and local governments to issue taxable bonds for capital projects and to receive a new direct federal subsidy payment from the Treasury Department for a portion of their borrowing costs. The […]
An 80-year-old Scotsman goes to the doctor for a check-up. The doctor is amazed at what good shape the guy is in and asks,” “How do you stay in such great physical condition?’ I’m Scottish and I am a golfer,’ says the old guy, ‘and that’s why I’m in such good shape. I’m up well […]
IR-2009-32, April 2, 2009 WASHINGTON —Victims of severe flooding in Minnesota and North Dakota have an extra 30 days, until May 15, to file their 2008 individual tax returns and pay any taxes due, the Internal Revenue Service announced today. Because the flooding has occurred within close proximity to April 15 –– the nation’s tax […]