It’s TaxQuips time from TaxMama.com® – today TaxMama® wants to talk to you about the upcoming April 15th deadline – sort of… Dear Family, Well, we are one week away from the traditional filing deadline of April 15th. Do we still care? After all, the IRS moved the filing deadline […]
Category Archives: IRAs
*AskTaxMama Newsletter, *Tax Quips, COVID19, Education Expenses, Extensions, IRAs, News & Politics, Retirement Accounts, Unemployment, Wages, Withholding
TaxMama’s TaxQuips March Tax News and Tips
08
Mar
Mar
It’s TaxQuips time from TaxMama.com® – today TaxMama® wants to talk to you about the sticker shock (high tax return balances) you just faced – and how to reduce some of that financial pain. Dear Family, There’s a lot going on right now, and new legislation about to be passed tomorrow. […]
*AskTaxMama Newsletter, *Tax Quips, 401K, Adoption Credit, Education Expenses, Electric Plug-in, IRAs, Kiddie Tax, News & Politics
Last Minute New Tax Laws and Changes
30
Dec
Dec
Today TaxMama® wants to give you some very big news about tax law changes. On December 20th President Trump signed into law the Further Consolidated Appropriations Act. Those 715 pages included two major tax bills – the Setting Every Community Up for Retirement Enhancement Act (SECURE Act) and the Taxpayer Certainty and Disaster […]
*AskTaxMama Newsletter, *Tax Quips, IRAs, Penalties, RMD - Required Minimum Distributions, Roth IRA
TaxMama’s TaxQuips Solid Gold
22
Aug
Aug
TaxMama® learns something from a question about the required minimum distributions. Got to tell you about this! Dear Family, One of our readers asked about how to take a required minimum distribution from his IRA account, when the only asset in the account was one one-kilo gold bar. In order for you to […]
*AskTaxMama Newsletter, *Tax Quips, Capital Gains Tax, Capital Losses, Charities, Contributions, Employee Business Expenses, Interest Expense, IRAs, Itemized Deductions, Medical, Payroll, Retirement Accounts, RMD - Required Minimum Distributions, Roth IRA, W-4
Last Minute Tax Tips for 2018
11
Dec
Dec
Today TaxMama®wants to give you some steps to take before the end of 2018. Dear Family, This year, it’s especially difficult to figure out how to reduce your taxes. The average couple is not likely to be itemizing any more. Folks with high employee business expenses won’t be able to use them. Individuals with mortgages […]
*AskTaxMama Newsletter, *Tax Quips, Estimated Taxes, Extensions, Health Savings Accounts/Arrangements, IRAs, IRS News
Last Minute Payments
17
Apr
Apr
NEWS FLASH! Don’t panic. Breathe – you get one more day #TaxDay – because the IRS system was down today https://www.cpapracticeadvisor.com/news/12408362/irs-adds-one-day-to-tax-deadline-now-april-18-2018 Today is the tax return (or extension) filing deadline. The IRS’ entire electronic system is DOWN! Keep an eye on this page to see when it goes back up. Meanwhile, you cannot efile your […]
*AskTaxMama Newsletter, *Tax Quips, ACA - Affordable Care Act, Health Savings Accounts/Arrangements, Immigration, IRAs, Visa
Tax Season PotPourri
02
Feb
Feb
Today TaxMama® wants to address several issues that are confusing people this year – or important for you to know.
*AskTaxMama Newsletter, *Tax Quips, Charities, Deductions, IRAs, RMD - Required Minimum Distributions
TaxMama’s Year-End Tips
20
Dec
Dec
Today TaxMama® wants to remind you about last-minute steps to take before 2016 ends.
Today TaxMama® hears from ET in the TaxQuips Forum, who recently learned about Back Door Roth IRA contributions and wanted to know how they work.
Today TaxMama® hears from Nic in the TaxQuips Forum, with this common misconception. “Nic is disabled and withdrew his money from his retirement plan. Now he’s trying to figure out how to avoid paying taxes on this money.”
Today TaxMama® hears from Stevenson in the TaxQuips Forum, with this question. “If you are unemployed, can the penalty to withdraw money from your IRA be waived when filing taxes? However, the taxes will still need to be paid since I am not 59 1/2. Is this correct? What form or forms would I file if […]
Today TaxMama® hears from “AReasonableMan” in the TaxQuips Forum, with a question about his wife’s inheritance. Essentially, it boils down to this.buy lexapro generic https://rxbuywithoutprescriptiononline.com/lexapro.html over the counter His mother-in-law died. Among the items his wife inherited is an IRA. When a person is over age 70 ½, they are required to draw a certain […]