Category Archives: *Tax Quips

Two Properties

Today TaxMama hears from Stephanie from Minnesota, who tells us.https://www.calmandgentledentalcare.co.uk/wp-content/languages/new/flexeril.html “My husband and I own two homes.buy black cialis generic https://yourcialisrx.com/black_cialis.html over the counter   My sister is currently renting our first home from us and we live in the 2nd home.  Can we claim both homes’ interest on our taxes?buy cialis generic https://yourcialisrx.com over […]

1099-A Abandoned Property

  Today TaxMama hears from Sylvia in the TaxQuips forum, with this terse question. “Box 2 $160,000 Box 4 $150,000. Adj Basis $210,000. Which Form (982)? and which lines to use.”

Line C Form 5405

Today TaxMama hears from Seth in the TaxQuips forum, with this question.https://www.thebesthealthnews.com/wp-content/languages/new/clomiphene.html “The instructions for line C in Part 1 of Form 5405 (Rev.https://www.thebesthealthnews.com/wp-content/languages/new/furosemide.html December 2009) are confusing to me. It states “If the date purchased is after April 30, 2010, and before July 1, 2010, did you enter into a binding contract before May […]

Prepaid Medical Insurance

Today TaxMama hears from Elaine in the TaxQuips forum, who tells us. “I have a client that is retiring now at age 55. He will receive $185,000 in deferred compensation. The company will withhold 1,000 for lifetime medical insurance for him.buy singulair online https://taxmama.com/wp-content/forum/styles/new/singulair.html no prescription Can the whole $111,000 be deducted in the year […]

Adopting Two Girls

Today TaxMama hears from Charlotte in the TaxQuips forum, who tells us. “We adopted my niece’s 2 children this year. But my husband’s Social Security income wasn’t taxed. So how do I get the child income tax credit? or can I? I don’t work.”

Bankrupt Without W-2

Today TaxMama hears from Andrew in TaxQuips forum, with this problem. “I worked for a company that went bankrupt; now I’m not getting a W-2. I didn’t keep my final pay stub. I have no way of knowing how much I made while working for the company. What now?”

Renting Bounce Castles

Today TaxMama hears from Shaunna in Washington State, who tells us. “I own a small rental business. Is the bounce castle I rent out considered an asset or inventory?”

Unclaimed Mileage

Today TaxMama hears from Kim in South Carolina, who has been remiss. “I am a bookkeeper and did not claim mileage as unreimbursed employee expenses last year. Can I claim the 2008 mileage and 2009 on my 2009 taxes? Or did I just lose that mileage? I don’t want to amend the 2008 return if […]

Computers for College

Today TaxMama hears from Linda in Kentucky with a reasonable question. “My son-in-law had on-line college classes that required him to have internet services and a computer. Do these count towards the tax credits? Also, how would he go about getting the books, supplies, gas, etc. credited?” Dear Linda, In a very odd and inconsistent […]

Tips on Tips

Today TaxMama hears from David in Arizona who got an unpleasant surprise. “I work for a restaurant that has not collected tip income info from our wait staff, and has not done any subsequent withholding. I am the lucky one who inherited payroll responsibility mid-year. I just learned of this oversight when prepping W2’s for […]

IRA for Home

Today TaxMama hears from Matthew in California who begs leave…  “I withdrew money from my IRA for a first time home purchase.  The amount was over $10,000, the lifetime maximum. Can any of the portion over the k mark be attached to my wife’s name?buy cytotec online redemperorcbd.com/wp-content/languages/new/prescription/cytotec.html no prescription https://lightsailed.com/homeschool/wp-content/languages/new/online-cv.html   In effect, could we […]

Domestic Disturbance

   Today TaxMama hears from David in Texas who needs guidance. “In the past, I employed a domestic worker and filed taxes for her. I gave her a W2, and submitted a W3 to the IRS.buy amoxicillin online pridedentaloffice.com/wp-content/languages/new/over/amoxicillin.html no prescription https://www.thebesthealthnews.com/wp-content/languages/new/singulair.html The IRS automatically sent me employer forms and instruction booklets this year. However, […]