Tag Archives: Finance

SEP IRA Contribution

Today TaxMama hears from Nancy in New York who tell us.buy temovate online blackmenheal.org/wp-content/languages/new/mg/temovate.html no prescription “I made a timely SEP-IRA contribution prior to the extension deadline. I forgot to file my tax return until October 17th. Is the SEP contribution still valid with late filing of the return?https://www.parkviewortho.com/wp-content/languages/new/finasteride.html ”

California Budget tax changes – New budget signed

Courtesy of Spidell Publishing Inc – www.caltax.com Spidell’s Flash E-mail #2008-23 September 23, 2008 After a threatened veto of the original budget and related tax bills, the governor and the legislature have come to an agreement. The new budget, which the governor signed today, does not contain an increase in withholding taxes or a general […]

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Late SEP Contributions

Today TaxMama hears from David in North Carolina who wants to know. “If a self-employed taxpayer obtains a valid extension, then files a return before the extension deadline, can the taxpayer then establish and fund an SEP-IRA (before the extension deadline) and file Form 1040X to claim the deduction? Or does the extension end when […]

Excess Lease Mileage

Today TaxMama hears from Kelli in Michigan with this question. “I am currently self-employed and will have over $3,000 in mileage charges due on my lease when I turn the car in next year. When I file my 2008 tax returns, however, I will no longer be self-employed. Although I won’t be billed and pay […]

First Home Draws

Today TaxMama hears Kathy in Oklahoma who asks .https://www.datafactories.org/wp-content/languages/new/college-essay-service.html “Do I have to pay taxes on money withdrawn from an annuity in order to purchase a home?”

SBA introduces new online courses for small business owners

Courtesy of the Internal Revenue Service [See the Resource Box below, for links] The Small Business Administration’s Small Business Training Network has introduced two new free online finance courses to help small business owners with the basic principles of finance and borrowing: Finance Primer: Guide to SBA’s Loan Guaranty Programs How to Prepare a Loan […]

Tap IRA Tax-Free

Today TaxMama hears from Lea in NY who wants to know. “You mentioned somewhere that it’s possible to get money from my IRAs tax-free, instead of paying about 40% in taxes and penalties for early withdrawal. How does that work.”

Filing Corp Late

Today TaxMama hears from Lori in Illinois who’s trying to catch up. “I started an S corporation last year . My attorney/ accountant friend advised me that I could skip the first round of estimated taxes.https://www.myjewishlistings.com/wp-content/languages/new/resume-help.html Well time has gotten away from me and I have the paperwork the government has sent to me, but […]

Destructive Divorce Fees

Today TaxMama hears from Jan in Michigan who tells us “I’m recently divorced.buy ivermectin online healthcoachmichelle.com/wp-content/languages/new/online/ivermectin.html no prescription buy valtrex online https://apwh.org/wp-content/languages/new/valtrex.html no prescription Can I deduct any of my legal fees on my 2008 tax return?”

Condo Condolences

Today TaxMama hears from Melissa in Florida with this problem. “I paid a deposit and rate lock fee on a pre-construction condo on the Miami River in Oct 04. Closing is due in June 2008. I really cannot afford to buy this condo and make monthly mortgage payments. What is best? If I do not […]

Sole Proprietor

Today TaxMama hears from Kathy in Florida who tells us. “My husband currently works “under the table”.us overnight pharmacy https://buynoprescriptionrxxonline.net/us-overnight-pharmacy.html no prescription We declare his total income and are subsequently hit every year with owed taxes. Would it behoove us to make him a sole proprietor of his own yacht cleaning business? Would we be […]