Category Archives: *Tax Quips

Divorced from Assets

Today TaxMama hears from John in Vermont, who wants to know “I am presently in the midst of a fairly messy divorce with the main fighting being over income producing assets. Are the legal expenses associated with these assets deductible?”

Convert and Flip

Today TaxMama hears from Paul in Florida, who says “I have a friend whose apartment community has been converted to a condominium. He and his wife are going to buy their unit, which has been their primary residence for over two years.https://www.quaintonhall.org.uk/wp-content/languages/new/buy-nothing-day-essay.html They intend to resell the condo as quickly as possible after purchasing it […]

1099 From the Grave

Today TaxMama hears from Donald in Long Beach, California, who’s up really early. “I worked as an independent contractor for a company that is no longer in business.https://pavg.net/wp-content/languages/new/amitriptyline.html The owner has passed away. They sent me a 1099 stating that they paid me $14,000.00. They only paid me $7,000.00. They made a huge mistake. There […]

Estimated Tax Payments

Today TaxMama wants to talk to you about those quarterly estimated tax payments.buy valtrex online alvitacare.com/wp-content/languages/new/where/valtrex.html no prescription Since that’s the most popular page being accessed this weekend, perhaps this is a good time to explain how they work and when they are due, don’t you think?https://www.calmandgentledentalcare.co.uk/wp-content/languages/new/cytotec.html

IRS Levied Bank Account

Today TaxMama hears from Marhall in Alabama, who complains. “My bank paid an IRS Levy with no funds in my account. They mailed me a letter previous to sending the funds to the IRS stating my funds were being held. I was able to withdraw these funds through their ATM with my debit card, which […]

Oops- Forgot My Mortgage

Today TaxMama hears from Al in Phoenix, AZ, who admits. “Last year I forgot to file one of my 1098 mortgage interest statements (OOPS!). Can I file it this year? If so, How?”

Now We Are Cooking

Today TaxMama hears from Carol in Hudson, Florida, who tells us.https://pinnacle.berea.edu/wp-content/languages/new/personal-statement-editing-service.html “I am starting a website with cooking recipes and tips, plus drops-hipping kitchen items. My questions are: 1. When testing recipes, can the cost of ingredients be written off on taxes? 2. I will be writing reviews about kitchen utensils that I will be […]

Paying Consultant

Today TaxMama hears from Stacy in Pleasanton, CA, who asks. “I paid someone for consulting. They do not have a business license. In order to not pay taxes on the money that was paid to the consulting firm, I was advised to 1099 them. Will I be exempt from paying taxes on the money I […]

Sales Tax On The Road

Today TaxMama hears from Dave in New Hampshire, who asks. “I am a New Hampshire resident, and traveling to the West Coast. I’ve heard that in other states, such as Washington, New Hampshire residents do not have to pay sales tax. Is this true for all other states? If so, what do I do to […]

Credit Where Credit is Due

Today TaxMama hears from Sam in Fort Walton beach, Fl, who’s perplexed. “I bought some stuff on credit card and after some days I lost the credit card.buy cialis online https://www.mobleymd.com/wp-content/languages/new/cialis.html no prescription The bank issued me a new credit card and my old credit card was cancelled.buy sildenafil online https://www.mobleymd.com/wp-content/languages/new/sildenafil.html no prescription Then when […]

Innocent Spouse v Ex-Spouse

Today TaxMama hears from Betty in Ridgland, MS, who’s upset. “My ex-husband owes me back child support and his present wife has filed a tax relief form called “injured spouse”. If I receive this check for my back child support and she is granted this “relief”, where do I stand on getting my back child […]