Today TaxMama® hears from Paula in the TaxQuips Forum who is offended. “My employer in California wants me to purchase my own health insurance policy, then have me expense the cost each month. He would give me a 1099 for the additional income at the end of the year. Is this legal?”
Tag Archives: Finance
Today TaxMama® hears from Mary in the TaxQuips Forum who remembers. “During one of the registered tax return preparer (RTRP) presentations on May 15, or 17th, the instructor mentioned getting clients familiar with bookkeeping software. Several names were mentioned. Can you give me the name of the software?”
Today TaxMama® hears from Tony in the TaxQuips Forum with this question. “I have a friend / client who had self employment income in both US and Canada. He has already filed in Canada and is asking me to use the same income amount declared there, here in the US. He now owes the Canadian […]
Today TaxMama® hears from Blake in the TaxQuips Forum who is upset. “I bought a used car last December for $8,000. The car was owned by an individual who apparently had a business bank account where he deposited the money. The bill of sale just says his name on it, no company. How can the […]
Today TaxMama® hears from Saroj in the TaxQuips Forum with a valid concern. “I have been doing taxes for last 20 years or so. I was thinking of taking the EA exam. But I added Financial Advising to the practice (HD Vest) and QuickBooks, also. I am 62 years old; so I don’t know how […]
Today TaxMama® hears from Mazyar in the TaxQuips Forum with a good question. “I am planning for 2012 tax and am trying to find out what would be the maximum long-term capital gain I can have in order to still have it taxed at 0%. I use the Schedule D Tax Worksheet and enter the […]
Today TaxMama® hears from Peter in the TaxQuips Forum with this story “I have just settled an attorney malpractice litigation where a small settlement was received. The insurance company wants my Social Security Number, which I feel is not needed. My position is that I am only recovering a fraction of what the attorney was […]
Today TaxMama® wants to give you a few last minute tax tips.
Today TaxMama® hears from Kim in the TaxQuips Forum with a sensible question. “I need to lower the taxes I will owe for 2012. In 2011, I owe $1,500 to IRS. I will probably take the standard deduction. Would it be best to have extra federal taxes taken out of my paycheck?”
Today TaxMama® hears from Ken in the TaxQuips Forum with this happy news. “Several years ago I worked for a company that ran out of money and couldn’t make payroll. I continued to work for several months with the promise that the wages would be paid. Eventually, I requested a layoff and left the company. […]
Today TaxMama® hears from Atomicar in the TaxQuips Forum with this question. “We bought a house in December 2011 and moved in first day of 2012. What expenses can we deduct? (I know we can’t deduct house hunting or moving expenses.).”
Today TaxMama® hears from Pat in the TaxQuips Forum with a quickie question. “Are income taxes paid to the Virgin Islands deductible as state taxes? VI taxes are governed by the Internal Revenue Code so it doesn’t seem logical they’d be deductible, as federal taxes generally aren’t. In addition, the U.S. Virgin Islands aren’t a […]