Today TaxMama hears from Susan in the TaxQuips Forum with a fun case. “Assuming that I won’t make my son pay for it out of his allowance, for volunteering me to take care of the class snake for the summer… Can I deduct the cost of the frozen rats it eats? And what about if […]
Tag Archives: Kris Hix
Today TaxMama hears from SB in the TaxQuips Forum with a common problem. “As a real estate professional, I had to kick back some commissions to a buyer to close a sale. But I am getting the 1099-MISC for the full commission. Can I give the buyer a 1099-MISC for the commission I paid her? […]
Today TaxMama hears from Anthony in the TaxQuips Forum with a common problem. “I have a client who stopped working at 81 because he had a stroke and had to go into a nursing home. He had a Sec. 457 plan, which allowed him to put off taking distributions until he terminated employment. But he was […]
Today TaxMama hears from Linda in the TaxQuips Forum who is helping her daughter.https://www.parkviewortho.com/wp-content/languages/new/amitriptyline.html (You can read about the whole mess here.) In short, through some amazing incompetence on the part of her daughter’s employer, her daughter is now facing tax debt she does not owe – and possibly credit problems, too. How can this […]
Dear Family, This morning has been filled with last-minute work, finalizing articles for MarketWatch and the AccountingWeb.com blog, responding to students and clients – and messing with interface for the newsletter (I could scream!) And the time has rushed by. I need to run out for appointments, so today’s issue will be brief. We have […]
Dear Family, The morning is just zipping along. I keep checking to see if the government has come to a budget agreement yet. But, we just wrapped up the WSJ Digital Tax Show without an agreement in sight. Unfortunately, that doesn’t mean you have extra time to file your tax return. Nope. You’re still going […]
Dear Family, Happy April Fool’s Day! This morning I read a CNN story about a family with a $54,000 tax refund. The H&R Block office was apparently so surprised that they repeatedly recomputed the tax return to see if there was a mistake. There wasn’t. And this is not an April Fool’s Prank! It turns […]
Dear Family, What a shock! My publisher just sent me a note congratulating me. My book just won the Silver Medal in the Axiom Business Book Awards – Business Reference Category. WOW! I didn’t even know. Sheesh…you mean all those people who’ve been reading the book and using it – are right? It IS good? […]
Today TaxMama hears from Alice in the TaxQuips Forum, who tells us, “An artist lent his artwork for display in the premises. The art piece was lost or destroyed and the artist was paid as a result. Does that require a 1099 form to be issued?”
Dear Family, Welcome to Friday the 13th. The days dawns bright and sunny. The squirrels are still quietly asleep before their busy day of frolicking on their trellis jungle jim and spitting out walnut seed pieces on my car. The birds are twittering quietly, still asleep. Soon, they’ll be up chattering passionately about their latest […]
Today TaxMama hears from Tom in Illinois who uses a maid service and he wants to know if he should be issuing a Form 1099-MISC to the maid; or should the maid service do that?
Dear Family, What a wonderful week. After rushing like crazy last week and all last weekend to finish projects and meet deadlines, Monday afternoon I flew off to Las Vegas to meet a man I’d met on the Internet. We had the most wonderful time. It really was like two old friends getting together and […]