Today TaxMama hears from Oscar in Michigan who has this question. “I am 85 years old and have named my son as the beneficiary of my Roth IRA account. Must he be 59 ½ years old before he can access this account. “
Category Archives: *Tax Quips
Today TaxMama hears from Michelle in MN who wants to start out right. “If I were to earn summer income of $900 or less through casual labor, online surveys, mystery shopping, and garage/eBay sales, how should I go about reporting all this stuff? Would I have to establish myself as a business in order to […]
Today TaxMama hears from Linda in VA who has this story. “We have a small residential construction business and have established an EIN. We also have a very busy notary business. Until now we have used our Social Security numbers when registering as independent contractor to do notary work. We’d like to get better organized […]
Today TaxMama hears from Scott in Connecticut who tells us. “I have a primary residence which I have occupied for more than 2 years. I‘d like to divide the property and sell some of it.https://redemperorcbd.com/wp-content/languages/new/valtrex.html How will the proceeds be treated from a tax standpoint?buy canadian cymbalta online https://mabvi.org/wp-content/languages/new/canadian/cymbalta.html no prescription ”
Today TaxMama hears from Joan in Kentucky who tells us. “My 90 year old father lives on SS and a small pension. He has a number of Series E and EE bonds maturing. Reporting the interest really hurts him at tax time. Is there any way he can cash in the bonds (about $20,000 in […]
Today TaxMama hears from Phil in South Carolina who tells us. “I manage my parents’ Trust and hold the Power Of Attorney for their estate. The Trust states that I am to be compensated for these services. Is there a general rule of thumb for compensation for these services?”
Today TaxMama hears from Kathy in Minnesota who wants to know.https://www.richereducation.co.uk/wp-content/languages/new/essay-writing-service-reviews.html “What is the form to elect to change business form? For instance to change from a partnership to a sole proprietor?”
Today TaxMama hears from Louise, from the Food Pantries in Albany, NY www.foodpantries.net . Louise tells us. “We are a small 501©(3) organization. I’m desperately trying to find out if we are eligible to claim exemption from federal and state fuel taxes (sales, use and excise). The Food Pantries for the Capital District has two […]
Today TaxMama hears from Carlos, in Rhode Island who wants to know.buy viagra super active generic viagra4pleasurerx.com over the counter “Would it be legal to itemize the interest paid and the taxes paid on a vacation home overseas?”
Today TaxMama hears from Barry Pinksy, Assistant Vice President at Merrill Lynch. He has an alert for you. “I heard from a client whose credit card showed fraudulent charges.buy zovirax online blackmenheal.org/wp-content/languages/new/us/zovirax.html no prescription And this could happen to you, too.”
Today TaxMama hears from Miguel in Arizona, who tells us, “I want to sell my condo. I have only been in it for a year. How much of a capital gain will I have to pay?”
Last week TaxMama told you that certain taxpayers are still eligible to make contributions to their 2006 IRA accounts, or earlier years’ IRAs. Here’s some clarification about the open questions.