Category Archives: *AskTaxMama Newsletter

AskTaxMama

Stand Out

“Don’t save your resume with a generic document title such as resume.doc. Label your documents ‘last name, first name, resume’ to make it easier for the recruiter to file and retrieve your resume.” Barbara Safani Career Solvers You’ll find Barbara Safani at TheLadders – where you can Search 1,521 New $100k+ Jobs This Week! https://go.asktaxmama.com/Ladders […]

Three Things to Ponder in 2008

1. Cows 2. The Constitution 3. The Ten Commandments COWS Is it just me, or does anyone else find it amazing that during the mad cow epidemic our government could track a single cow, born in Canada almost three years ago, right to the stall where she slept in the state of Washington? And, they […]

Ask Taxmama Issue 447 – Know Your Worth – and Know Your Parents

Dear Family, OK I’m lying. Yesterday was really International Mother Language Day, not today. But I like the concept of the richness of culture. And I love languages and want to encourage everyone to learn the languages of their parents and grandparents. And so, we honor the day, a little late. Speaking of parents and […]

Taxes on Early Distributions from Retirement Plans

Courtesy of the Internal Revenue Service TT-2008-36 Payments that you receive from your IRA or qualified retirement plan before you reach age 59½ are normally called ‘early’ or ‘premature’ distributions. These funds are subject to an additional 10 percent tax and must be reported to the IRS. There are a number of exceptions to this […]

Income from Foreign Sources

Courtesy of the Internal Revenue Service TT-2008-37 Many United States citizens and resident aliens receive money from foreign sources. These taxpayers must remember that they must report all such income on their tax return, unless it is exempt under federal law. U.S. citizens and residents are taxed on their worldwide income. This applies whether a […]

8 QUESTIONS THAT SHOULD BE DISCUSSED BETWEEN PARENTS AND THEIR ADULT CHILDREN

By Sally A. Dalton, EA in Orgeon, Ohio Mom & dad getting older? It’s not easy to discuss your parents’ wishes for the future, but it may be one of the most important talks you’ll ever have. 1.Who are your doctors? In the event of a medical crisis, you should know who their doctors, therapists, […]

Know Your Worth – and Don’t Let Appearances Fool You!

Sit back and let me tell you a story. Many, many years ago, a CPA firm asked me to help this company set up their books – and to do the books for the year, so they could perform a certified audit. They told me that company had a new bookkeeper, an older woman. She […]

Spell check the old fashioned way

Do it yourself! Spell check software doesn’t catch words that are spelled correctly but misused. Print out your documents and read out loud, one word at a time. A proofreader’s tip: read the document backwards.” Alesia Benedict TheLadders.com Resume Services You’ll find Alesia at TheLadders – where you can Search 1,255 New $100k+ Jobs This […]

High Tech One Ups

Three tax professionals, two younger, and one senior citizen were sitting naked in a sauna. Suddenly there was a beeping sound.buy canada levitra online http://healthinschools.org/wp-content/languages/new/canada/levitra.html no prescription The young tax pro pressed her forearm and the beep stopped. The others looked at her questioningly.buy antabuse online pmilv.com/wp-content/languages/new/cheap/antabuse.html no prescription “That was my pager”, she said.buy […]

Ask Taxmama Issue 446 – Happy Presidents Weekend

Dear Family, Happy Presidents Day Weekend. Monday is the hybrid day that is neither Washington’s Birthday nor Lincoln’s – just a Monday, giving us a long weekend. Federal and State offices and schools will be closed. We will be too (since TaxPapa works for the School District). Traffic on the roads will not be moving […]

What income is taxable? Nontaxable?

Courtesy of the Internal Revenue Service TT-2008-30 Generally, most income you receive is taxable. But there are some situations when certain types of income are partially taxed or not taxed at all. A comprehensive list is available in IRS Publication 525, Taxable and Nontaxable Income. Some common examples of items that are not included in […]

IRS Will Send Stimulus Payments Automatically Starting

Eligible Taxpayers Must File a 2007 Tax Return to Receive Rebate WASHINGTON — The Internal Revenue Service today advised taxpayers that in most cases they will not have to do anything extra this year to get the economic stimulus payments beginning in May. “If you are eligible for a payment, all you have to do […]