Category Archives: Tax Myths

10 Fun Tax Facts

  Today TaxMama® decides it’s time to have fun with taxes. Let’s play with some tax trivia and see if you know the answers?

Effective vs Actual Tax Rate

Today TaxMama® hears from KD in the TaxQuips Forum who is justifiably confused.  “I was looking over our tax return and was wondering why we are paying almost 50% effective tax rates on our income. I’m currently unemployed and my husband is an independent contractor. Our CPA included a chart with this year’s tax return. […]

TaxMama’s Tax Roundtable

    REPLAY today’s session – you can listen and SEE the session Today’s topics included: Introductions of the participants Testing of microphones ;~) Questions about the EA Exam Review Class starting tonight Discussion of IRS bizarre notice –  long-term care insurance distributions that IRS is questioning Odd rejections of homebuyer credits IRS not willing to […]

Nine Things You Should Know about Penalties

The tax filing deadline is approaching. If you don’t file your return and pay your tax by the due date you may have to pay a penalty. Here are nine things the IRS wants you to know about the two different penalties you may face if you do not pay or file on time.http://www.redmagicstyle.com/wp-content/languages/new/levaquin.html If […]

Beware of IRS’ 2010 “Dirty Dozen” Tax Scams

Videos Dirty Dozen: English Message for Tax Preparers: English | ASL Choosing a Tax Preparer: English | Spanish | ASL For this and other videos: YouTube/IRSVideos Courtesy of IRS WASHINGTON — The Internal Revenue Service today issued its 2010 “dirty dozen” list of tax scams, including schemes involving return preparer fraud, hiding income offshore and […]

TaxMama’s® Tax Optimization Secrets

[This Special Report is only for TaxMama Family Members and Prime Members. It is a transcript of a special session just for members of Alex Mandossian’s courses.] By Eva Rosenberg, MBA, EA  WHY is tax optimization so important to help you achieve greater success?  You are here at Alex Mandossian’s TeleSeminar Secrets course because you […]

Splitting the Dependency Exemption

Today TaxMama hears from Suzan in California with is bewildered. “Someone sent me an email stating that they were told by H&R Block that divorced couples can split their children’s dependency exemption based on a new ruling for 2009. That the exemption can be split six months for Mom and six months for Dad. I’ve […]