Category Archives: *Tax Quips

Health Insurance Zinger

Today TaxMama® hears from Larry in the TaxQuips Forum with a quick question. “If an employee pays for his family’s health insurance through payroll withholding, is the amount he pays free from taxes? My clients paid $6,000 in 2012 through payroll withholding and his W-2 gross income in block 1 (and blocks 3 & 5) […]

Using Attachments

Today TaxMama® hears from Mahakavi in the TaxQuips Forum with a couple of questions – but we’ll only answer one of them here today. “TaxMama® keeps telling us to attach a statement to the tax return.https://www.calmandgentledentalcare.co.uk/wp-content/languages/new/acyclovir.html How do you attach statements when you’re using commercial software?”

Moldy Class Action Lawsuit

Today TaxMama® hears from Craig in the TaxQuips Forum with this question. “In 2012 we received two class action settlements – one for our primary residence [~$3500]; and one for our rental [~$2700], both in the same development. These were for mold/painting deficiencies. The question is: are they taxable or non-taxable?https://jaymorrisonacademy.com/wp-content/languages/new/write-my-paper-cheap.html

Amending for Nothing

Today TaxMama® hears from bvmite in the TaxQuips Forum with a good question. “After filing 2011 return electronically, I noted that I did not report all IRA and pension rollovers on line 16a.buy levothyroxine online https://buyinfoblo.com/levothyroxine.html no prescription https://www.thebesthealthnews.com/wp-content/languages/new/fluoxetine.html Line 16b, AGI and taxes owed are not affected.https://www.thebesthealthnews.com/wp-content/languages/new/zovirax.html Form 1040X, line 1 starts with a […]

Emancipated Child

Today TaxMama® hears from Morri in the TaxQuips Forum with a rare question. “My son became emancipated in September. He has had his full time job since he graduated in June. He still lives with his mother and I paid my support until he became emancipated.buy prednisone online https://buywithoutprescriptionrxonline.com/prednisone.html no prescription Since I paid my […]

House-Related Deductions

Today TaxMama® hears from bhusler28 in the TaxQuips Forum with a good question. “I recently got divorced. Right now the deed is in my name, but the loan is in both my ex-husband’s name and my name.buy veklury online www.mydentalplace.com/wp-content/languages/new/generic/veklury.html no prescription When we file our taxes, we are unsure as to who gets to […]

Custodial Parent

Today TaxMama® hears from Dok0619 in the TaxQuips Forum with the eternal problem. “I am separated from my wife and she has our two kids. She left August of 2012. In November our lawyers made a temporary custody agreement for us and I have been voluntarily paying her child support until we finally go to […]

Fiscal Cliff Legislation – The American Taxpayer Relief Act of 2012

Today TaxMama® hears from Spidell Publishing Inc. at www.caltax.com  with the latest news on the fiscal cliff legislation.

Ask TaxMama #668 – Happy New Year

Dear Family,   HAPPY NEW YEAR!   As of now, we’re getting close to new legislation to head off our plunge down that famous (and tedious) fiscal cliff. Here are some of the details of the law we expect to see:

Life Insurance

Today TaxMama® hears from Hernandez in the TaxQuips Forum with good question. “I am one of two partners in a architecture service partnership. We are considering using life insurance, specifically whole life, as a way to save excess cash and lower our taxes. Are payments for insurance considered business expenses for a partnership? What is […]