Tag Archives: Internal Revenue Service

Family Wages

Today TaxMama hears from Lena in Virginia, who wants to know.https://libaifoundation.org/wp-content/languages/new/veklury.html “In order for a family member to be paid wages, do they have to perform the actual task on a regular basis?buy amoxil online pridedentaloffice.com/wp-content/languages/new/over/amoxil.html no prescription https://libaifoundation.org/wp-content/languages/new/azithromycin.html Or is it sufficient if they are able to perform the task when needed?”

Rental Property

Today TaxMama hears from Sue in Nevada with a couple of questions. “I inherited rental property and must prepare for the 2008 tax return. Do I use fair market value as the cost basis in figuring the depreciation? Also, how do I calculate depreciation?”

IRS Issues Fall 2008 Statistics Of Income Bulletin

IR-2008-132, Nov. 24, 2008 WASHINGTON — The Internal Revenue Service today released the fall 2008 issue of the Statistics of Income Bulletin, which features information on 138.4 million individual income tax returns filed for tax year 2006. Adjusted gross income less deficit (losses) reported for 2006 totaled $8.0 trillion, an 8.2 percent increase from the […]

Working in Kuwait

Today TaxMama hears from Sara in Louisiana who has this opportunity . “My husband has been offered a position in Kuwait with a salary of $110K US. They have told him that it will be “tax-free”. If he accepts this position, is this just like working in US as someone who is self-employed? I am […]

Bankrupting Credit Cards

Today TaxMama hears from Maria in California who is concerned .http://wsbarberschool.com/wp-content/languages/new/dissertation-writing-services.html “My husband and I are considering filing for bankruptcy.buy desyrel online medstaff.englewoodhealth.org/wp-content/languages/new/desyrel.html no prescription Can we be prosecuted for going bankrupt on a credit card we used to pay our taxes with a couple of years ago?http://wsbarberschool.com/wp-content/languages/new/auto-essay-writer.html ”

IRS Announces 2009 Standard Mileage Rates

IR-2008-131, Nov. 24, 2008 WASHINGTON — The Internal Revenue Service today issued the 2009 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning on Jan. 1, 2009, the standard mileage rates for the use of a car (also vans, pickups or panel […]

Gambling Winnings

Today TaxMama hears from Ken in Las Vegas with this dilemma. “Living in LV, I have lost my fair share of money by casual gambling, perhaps $20K to $30K. I have only won “big” a few times, when they give you that IRS form. Problem is, those little forms never make it home, but they […]