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 […]
Today TaxMama® hears from Farmer in the TaxQuips Forum, with a reasonable question. “Can you take a deduction of Mutual Fund operating expenses (12b fees?) on Schedule A, subject to the two-percent floor?”
Courtesy of the Internal Revenue Service [TaxMama note: Did THIS ever happen to you? If you were the victim of tax identity last year, make SURE you get your special Identity Protection PIN (IP PIN) from the IRS so no one can steal your refund by pretending to be you.] WASHINGTON — Continuing a year-long enforcement […]
Today TaxMama® hears from Angel in the TaxQuips Forum with an interesting issue. “My client is a United Nations employee. Last year she earned [a modest sum] while working at the UN in New York City; then took a posting in Spain with the UN where she earned [well over the foreign earned income exclusion […]
An elderly man in Miami calls his son in New York and says,” I hate to ruin your day, but I have to tell you that your mother and I are divorcing; forty-five years of misery is enough.” “Pop, what are you talking about?” the son screams.
Dear Family, We are running very late today because I started the day by writing articles. The first one was completed on time – TaxMama’s 10 Tips for Success. But the second took quite a bit longer. I got absorbed researching in this week’s MarketWatch article. It’s essentially exploring whether or not delayed tax benefits […]
Courtesy of the IRS. For more information, see the Special Identity Theft Enforcement Efforts – 2012 page. See related article about IP PIN at MarketWatch.com this weekend. WASHINGTON – The Internal Revenue Service and the Justice Department today announced the results of a massive national sweep cracking down on suspected identity theft perpetrators as part […]
The year is 2020 and the United States of America has recently elected the first woman as well as the first Jewish President, Susan Eisenberg. A few weeks after election day, the President- Elect calls up her mother. “So mom, I can count on you to be coming to my inauguration?” “I don’t think so. It’s […]
Today TaxMama hears from Bill in the TaxQuips Forum, who is confused. “My 22 year old daughter won a contest (trip to NYC and new wardrobe) in 2010. She has received a 1099-MISC for $18,000 for the total of goods and services that she received. She is a full-time student and this is unearned income. […]
Partners’ Filing Status Varies Federal to State, and State to State Courtesy of CCH – This article is SO important for all domestic partners to read! (RIVERWOODS, ILL., February 11, 2011) – Whether opposite-sex or same-sex marriage, civil union or domestic partnership, your relationship can have tax consequences, according to CCH, a Wolters Kluwer business […]
Dear Family, Happy Valentine’s Day weekend. Are you doing something romantic? We sneaked off and took our romantic weekend last month. I found a winery resort in Temecula where each guest room is a separate villa. They are so popular, they’ll be adding another hundred or so this year. What’s your favorite romantic getaway? (Just […]
Francis Albert Sinatra (1915-1998) may have been one of America ‘s most famous Italian Catholics, but he kept the Jewish people and the State of Israel close to his heart, manifesting life-long commitments to fighting anti-Semitism and to activism on behalf of Israel .