Today TaxMama® hears from Mike in the TaxQuips Forum, who has a common type of question. “I work in sales as an employee. May I itemize my clothing expenses and Mileage?”
Category Archives: *Tax Quips
Dear Folks, No offense intended. But when you engage the services of a tax professional, the concept that the IRS has in mind is that you are working with a “paid professional.” If you don’t pay that tax pro, then their signature on your tax returns and/or other documents is not valid – because they […]
Today TaxMama® hears from Dustin in the TaxQuips Forum, who has a very reasonable question. (Let me paraphrase.) “I live in Idaho and just got a construction job in Nevada that will last two years. My wife wants to stay in Idaho near her doctor during her pregnancy. What’s the best way to handle […]
Today TaxMama® hears from GuideForThePoor in the TaxQuips Forum, who has an interesting question. “Suppose your deductions are too low to itemize, but you still want to give money to charity. Can you give the money to a friend who does itemize – and have the friend donate it to charity and get the deduction?” […]
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 Sheronda in the TaxQuips Forum, with this question – which is more common than you might think. She read this on the Delaware website “Single-member Delaware LLCs are “disregarded entities” according to IRS regulations, which means they have no U.S. income tax and no reporting due.” And asks, “Does this […]
Today TaxMama® wants to take a moment to remind you about two key June deadlines. Today – estimated taxes are due. June 30th – the FBAR filing.
Today TaxMama® hears from Sheronda in the TaxQuips Forum, with this common issue (edited). “Taxpayer paid off her student loan using a home equity line of credit (HELOC)?buy canadian furosemide online https://mabvi.org/wp-content/languages/new/canadian/furosemide.html no prescription Is the interest still deductible?”
Today TaxMama® hears from Hammed in the TaxQuips Forum, with this interesting question. “What is the income limit for married filing jointly to pay ZERO capital gains tax in 2014? Does the income include the social security benefits?”
*AskTaxMama Newsletter, *Tax Quips, Interest Income, Municpal Bonds, Non-Taxable Income
Tax-Free Muni Bonds
12
May
May
Today TaxMama® hears from Rosemount in the TaxQuips Forum, with this excellent question. “What taxes would be due on municipal bond fund earnings if a Florida resident?”
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 KP in the TaxQuips Forum, with this question. “My sister-in-law received a 1099-Misc with an amount in box 6 for medical health care payments for providing care for her husband, a veteran receiving VA benefits. I know the amount is taxable to the federal government, but is it subject to social security […]