Today TaxMama hears from the Minister’s wife in Kentucky, who tells us, “My husband’s housing allowance is exempt from taxes. We are currently building a home, while temporarily living with relatives until its completion.buy Cymbalta online https://medstaff.englewoodhealth.org/wp-content/languages/new/ no prescription Will we be able to deduct any of the expenses from the construction of this new […]
Tag Archives: Finance
Hi! It’s TaxQuips time from TaxMama.https://www.richereducation.co.uk/wp-content/languages/new/buy-papers.html com. Today TaxMama hears from Sandy in Alabama who tells us.buy azithromycin online mannadew.co.uk/wp-content/languages/new/uk/azithromycin.html no prescription “I want to sell a rental house via a Sec 1031 exchange. Then I want to use the money, which will be in my attorney’s account, to add on to another rental house […]
Today TaxMama hears from Harry in Pennsylvania, who tells us, “I withdrew money from an IRA which used to be an employer annuity, but became an IRA when I left them. I am over 55 and separated from service. Does exception 2, separation from service, apply to distributions from an IRA? Since I am under […]
Today TaxMama hears from Bill in Maryland who asks, “What is the biggest mistake made by investors?”
TaxMama has so many questions in the Tax Parlor and from her MarketWatch article this week, that I’ve spent about three times as many hours answering them. Many of the answers are posted in the Tax Parlor – https://taxtwist.com/forum.php?varset=s:13-pm:m-se:265-fo:13 They cover areas like dealing with out of state jobs, Whirlpool’s buyout of Maytag stockholders, taxes […]
Today TaxMama hears from Melissa in the Tax Parlor, who tells us , “Hello! I am a real estate agent (independent contractor) and I was just offered a very part time consulting position for a local non-profit neighborhood organization. I will be researching the neighborhood real estate market and reporting back to the non-profit. This […]
Today TaxMama hears from Marti in the Tax Parlor, who tells us , “I recently got married and we are trying to figure out the best ways to save money on taxes. We sold a property and plan to use the criteria for paying no capital gains on it. We own another property together and […]
Today TaxMama hears from Tony in Ohio who tells us. “I am currently getting garnishments taken out of my wages. Is this refundable? Or do I at least get credit towards filing my next return?” ~~~~ Dear Tony, If your paycheck is being garnished by IRS or your state, that money is going towards paying […]
Today TaxMama hears from Mike in the Tax Parlor who tells us “My wife and I formed an LLC and began doing business last January. We are a home-based craft business and have done all our business under my SSN not a Tax ID #. Can we file our expenses/income for the business under our […]
Today TaxMama hears from Bill in the Tax Parlor who asks, “How do you write off the purchase price of an operating business?”
Today TaxMama hears from Mary in Ohio, who says, “I am 15 and have been working for the past 3 years. I have my own business (tutoring). What amount do you have to earn in order to pay taxes on it?”
Today TaxMama hears from Ben in FL who tells us, “I am completing an audit for a client. The Revenue Agent refuses to give me her proposed adjustments so they can be analyzed and refuted, if possible. She wants a closing signed without any discussion. Is this normal and what means do I have to […]