Today TaxMama hears from Amy in Massachusetts who is worried. “I have been on disability benefits through a private policy and the benefits were not taxable. Now SSDI is going to pay a lump sum for back payments. Afterwards, I will be receiving about ½ my income from SSDI and ½ my income from the […]
Tag Archives: Internal Revenue Service
Today TaxMama hears from Dee in Virginia with a simple question. “I bought some ranch land that is actively producing hay. The mortgage is secured by the land.https://libaifoundation.org/wp-content/languages/new/clomiphene.html Can I deduct the mortgage interest from my income taxes?” Dear Dee, You betcha. Yes, you may deduct the mortgage interest. The questions are where to take […]
IR-2009-29, March 26, 2009 WASHINGTON — All or part of unemployment benefits received in 2009 will be tax free for many unemployed workers, according to the Internal Revenue Service. “This morning we learned that a record 5.6 million people were receiving unemployment benefits in the middle of March. This underscores the need for the relief […]
Today TaxMama hears from Quincy in New York who wants to know “Can a medical student deduct the expenses of traveling, lodging and meals when looking for internships and residencies? If so, what are the rates? Also, can I deduct the expenses of the board tests ($1,500), and books for school?”
Today TaxMama hears from Holly in Indiana with a huge problem.https://www.calmandgentledentalcare.co.uk/wp-content/languages/new/zithromax.html “Several years ago, I dated a man that painted homes for a living. Periodically I would help him, but never full time.buy azithromycin online pmilv.com/wp-content/languages/new/cheap/azithromycin.html no prescription I never was given a check or any form of money or income.https://www.calmandgentledentalcare.co.uk/wp-content/languages/new/levaquin.html We lived together and […]
Today TaxMama hears from Brian in Wisconsin who got a surprise. “Two weeks ago I filed my taxes and everything went fine. Well. I just a form 1099-misc from a website where I made some money last year ($800). what can I do now?”
If you use part of your home for business, you may be able to deduct expenses for the business use of your home. These expenses may include mortgage interest, insurance, utilities, repairs, and depreciation. The home office deduction is available for homeowners and renters, and applies to all types of homes, from apartments to mobile […]
WASHINGTON — As part of the Treasury Department’s consumer outreach effort and with the April 15 individual tax filing deadline approaching, the Internal Revenue Service today began a concerted effort to educate taxpayers about additional options at their disposal to claim the new $8,000 first-time homebuyer credit for 2009 home purchases. For people who recently […]
Today TaxMama hears from Margot in Tennessee, who tells us, “My daughter’s fiance would like to buy her house from her to benefit from the $8,000 tax credit for first time home buyers. They are wondering now if he could qualify for this benefit. He has good credit and is a first time home buyer. […]