Category Archives: *Tax Quips

1099 to Artist

Today TaxMama hears from Alice in the TaxQuips Forum, who tells us, “An artist lent his artwork for display in the premises. The art piece was lost or destroyed and the artist was paid as a result. Does that require a 1099 form to be issued?”

Bank Subpoena

Today TaxMama hears from Jennifer in the TaxQuips Forum, with this question. “I work for a financial institution.buy veklury online www.pharmalucence.com/wp-content/languages/new/generic/veklury.html no prescription We just received an IRS subpoena ordering us to turn over 4 years of checks and statements for one of our customers.  This will require a significant amount of manpower to put […]

5th Wheel

Today TaxMama hears from Brad in Jacksonville, NC  , who says, “I’ve been considering purchasing a (self-contained) motorhome/fifth wheel RV for use as lodging/office to use on my business travels. Can I write it off?”

Home Office Red Flag

Today TaxMama hears from John from Georgia, who is wary.http://auneec.ateneo.edu/wp-includes/images/new/thesis-generator.html “I run my network marketing business from home, but heard that taking an office in home deduction is a red flag to IRS. Help!”

Won Lottery

Today TaxMama hears from Mike from Chicago, Il who is excited. “I won the lottery and paid taxes on the winnings. I want to give my mother $1 million out of my after tax winnings. Will she have to pay taxes on the $1 million again? Or just on any interest it accumulates?”

Holiday Credit Cards

Today TaxMama hears from Riki in New York with this concern. “I’m looking for specific advice on how to take control of a large post-holiday credit card balance.”

Nothing to Live on

Today TaxMama hears from Jon in the TaxQuips forum who says, “I applied for SSDI in Jan. and have been turned down twice. I have requested a hearing which may be another 6 to 9 months. How is one to survive while waiting on the government?https://www.simplybeyondfoods.com/wp-content/languages/new/synthroid.html My claim is based on Major Depression and back […]

Land Option

Today TaxMama hears from Jacqueline in the TaxQuips forum with this interesting question.http://klassroom.co/files/migration/new/coursework-writing-service.html “I own several acres of raw land. Several years ago a developer began to pay me a yearly amount for 4 years (as an option to purchase the land for a set price). I was advised not to report this income until […]

Getting Free Tax Help

Today TaxMama wants to talk to you about ways to get help when you are in tax trouble, as a result f a desperate plea from a fellow named Jon.

Indomitable Spirit

Today TaxMama wants to talk to you about strength of spirit – and overcoming adversity, no matter what.

Expensing Accounts Payable

Today TaxMama hears from Cinda in the TaxQuips Forum with a quickie question. “I bought a company and with it came  $72,310 worth of outstanding debt.  How should I initially set this up and how would I track the payments I make towards these payables?  The payments are an expense correct?https://www.topsedu.xyz/wp-content/languages/new/essay-help.html ”