Today Carlos from Houston, TX is concerned, “My question is about my father´s Social Security Number. He is not working now, but he thinks some one is using his SSN to work. How can we find out and how can we see the IRS records to see if my dad is in trouble?
Today Michael from Oxnard reports, “I have two liens against my home from my county hospital for a medical bill I never paid. If I quit claim the deed to someone else, am I relieved from having my liens affect the property?
Today Connie from New York asks, What does “Pass Through Tax” mean? Since TaxMama has never heard that expression, she will explain “Pass-Through Income (or Loss)” or “Pass-Through Entity”.
Today Kelly from college wants to know, “If a parent claims a child as a dependent on their taxes, is that parent legally required to support the child financially, in any way? And what is the legal definition of a dependent? I’m a college student and my parents claim me on their taxes, but refuse […]
Today Bob from Greesnboro, NC tells this story “My parents bought our house in 1965 for $50,000. They put their home in my name in 1981, when its value was around $90,000. We’re selling it this year for $150,000. My question: Do I pay tax on the difference (profit) between the original purchase price of […]
Today Dede from Michigan tells us. “I am a newly licensed family home day care provider. I am overwhelmed by this tax business! Where in the world do I begin? I haven’t paid any taxes from my earnings yet, because I just don’t know how to begin or whom to contact about what forms or […]
Today Alan from Texas says he is starting a partnership as a consulting business. He asks, “I understand that estimated taxes will be made on the income that the business makes, but do I also have to pay personal tax on the salary that I pay myself from that income in addition to the estimated […]
Today Sarah in Oregon is upset with her husband’s employer. “My husband’s work won’t change his payroll withholding to the amounts on his new W-4 until they hear from their attorney. So we are ending up with thousands of dollars taken out and sent in to the IRS and ODR that we need now. ”
Today Ann in California wanted TaxMama to fix her credit. Since all my income disappeared when I lost all my clients in the Y2K corporation crash, my credit tanked. A lot of my credit debt has even been written off by now. But now, I’m getting back on my feet again and want to clean […]
Today Mark in Mississippi is still reeling. Here’s why – The other day, I dropped twenty bucks into a 50-cent slot machine and I won $326,000.00! I suspect that over half will be taken for state and federal taxes. As a farmer, can I offset the taxes due by adding to my farming operation (i.e. […]
Today Blaine in Cleveland, OH is a proud new daddy. His problem? My wife and I are being bombarded with offers for pre-tax deductions for childcare expenses since the birth of our first child this past summer. How can I decipher whether this would be the way to go versus simply taking a deduction directly […]
Today Bill from Cinncinnati, OH wants to know. “I have what I think is a simple question. My fiance and I have lived together for over 2 years. She is now pregnant with my child and had an income of only $1400 last year. Is it possible for me to claim her as a dependant? […]