Today TaxMama® hears from Ben in the TaxQuips Forum, with a question that raises another common issue. Let me summarize the issue. “Quite often when two people become partners, one of them ends up doing more work for the business than the other. How can you split the partnership income so each person still gets […]
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The Fallen Man A man had fallen between the rails in a subway station. People were all crowding around trying to get him out before the train ran him over. They were all shouting. “Give me your hand!” but the man would not reach up.
Today TaxMama® hears from G in the TaxQuips Forum, with a question that raises a common issue. Let me rephrase the issue. “I used a subcontractor (or paid for parts) on a job for a customer. I only got to keep a part of the income. The rest went to pay the sub or for […]
Today TaxMama® hears from Jennie in the TaxQuips Forum, with a good question. “I took out a mortgage from a private party 4 years ago.https://www.pharmalucence.com/wp-content/languages/new/amoxicillin.html They have never sent me a mortgage interest statement. Therefore, I have never included it on my taxes. I realized that is a HUGE mistake as I would most likely […]
Today TaxMama® hears from Jeb in the TaxQuips Forum, with a long, complicated issue. Let me summarize. “We want to close down our 3-member LLC, but there are outstanding issues. The CPA says we all need to file extensions, but one member has a big refund and wants it now. What can we do?”
Today TaxMama® hears from Ellen in the TaxQuips Forum, who is getting conflicting information. “I had no idea, when we decided to be responsible parents to my son and the son of a family friend, that we’d have such a headache at tax time when we decided to start charging “rent” after they graduated from […]
Dear Family, Today is Good Friday and also the middle of Passover. Lots of places are closed, like banks, stock exchanges, schools, and more. Take some time to enjoy today. You can start with the Money Funnies. In honor of April Fools Day this weekend, this week’s Money Funny honors Joey Skaggs and New York […]
Courtesy of the IRS The IRS’s annual ‘Dirty Dozen’ list includes common tax scams that often peak during the tax filing season. The IRS recommends that taxpayers be aware so they can protect themselves against claims that sound too good to be true. Taxpayers who buy into illegal tax scams can end up facing significant […]
The 28th Annual April Fools’ Day Parade will begin at Fifth Avenue and 59th Street at 12 noon, Sunday, April 1, 2012. Rain or shine, the parade will march down Fifth Avenue to Washington Square Park for the climactic selection of the King or Queen of Fools from the costumed marching look-alikes. The New York […]
Today TaxMama® hears from Grandma in the TaxQuips Forum, who tells us. “We have a rental, which was left to us in a trust. It only brings in $500.00 a mo which is ,000 a year.buy xifaxan online https://pridedentaloffice.com/wp-content/languages/new/xifaxan.html no prescription It is very old and has quite a few repairs each year. We have […]
Today TaxMama® hears from KH in the TaxQuips Forum, with this question. “My parents are willing to give me a rental property they own. The house is in their name and they currently claim it on their taxes. There is a mortgage on the property as well. We are currently trying to refi the house […]
WASHINGTON —The Internal Revenue Service today provided late-payment penalty relief to individuals and businesses requesting a tax-filing extension because they are attaching to their returns any of the forms that couldn’t be filed until after January.buy elavil online https://www.conci.com/wp-content/languages/new/elavil.html no prescription The relief applies to the late-payment penalty, normally 0.5 percent per month, charged on […]