Today TaxMama® hears from Clifford in the TaxQuips Forum, with an excellent question. “I was told in an investment class that dividend income and social security income could be “blended ” to reduce taxes. We were told that up to $70,700 dollars could be sheltered from taxes. When we asked how this could be done, […]
Tag Archives: Public economics
Today TaxMama® hears from BBall in the TaxQuips Forum, with a common issue. He is trying to understand whether he should claim zero or 1 on his W-4 – and what affect that will have on his paycheck.
Today TaxMama® hears from Stan in the TaxQuips Forum, with a valid question. “In October 2011, an amended Estate Tax return was filed. The IRS did not complete their review until the beginning of April 2013.buy xenical online https://healingtohappy.com/wp-content/languages/new/xenical.html no prescription buy Tretinoin generic onlineandnewblo.com over the counter However, they are only showing interest payable […]
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 […]
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 […]
Courtesy of the IRS Some children receive investment income and are required to file a federal tax return. If a child cannot file his or her own tax return for any reason, such as age, the child’s parent or guardian is responsible for filing a return on the child’s behalf. There are special tax […]
[TaxMama Note: If you have not yet filed for 2009 and have a refund coming – FILE IMMEDIATELY! If you are still waiting for data, documentation or anything else that prevents you from filing, then file a PROTECTIVE CLAIM. i.e. File a tax return. Write PROTECTIVE CLAIM on the top of the first page. Include […]
Today TaxMama® hears from Michele in the TaxQuips Forum, with this question. “My client files MFJ with a son. The son made $1,237 on a W-2 and he received a K-1 with $137 in box one (business income) and $1,832 in the self-employment box. Does a K-1 qualify as investment income? Will the parents be […]
Courtesy of the IRS WASHINGTON — The Internal Revenue Service today reminded parents and students that now is a good time to see if they qualify for either of two college education tax credits or any of several other education-related tax benefits. In general, the American opportunity tax credit, lifetime learning credit and tuition and […]
Today TaxMama® hears from Yimmy in the TaxQuips Forum, who wants to know. “I moved into a newly constructed home in Oct.https://www.giveapint.org/wp-content/languages/new/propecia.html 2012. Are the sales taxes paid on the construction materials used in building the home tax deductible?buy cipro online www.mabvi.org/wp-content/languages/new/usa/cipro.html no prescription The home is in Georgia.”
Dear Family, Odd-funny things keep happening around here. Like scraping ice off my windshield – in California! Like going to our breakfast meeting and the restaurant is closed. Like the IRS press release that that help and information is available in Spanish – but the press release was in English. Like my friend sending me […]
Courtesy of the IRS It’s important to use the correct filing status when filing your income tax return. It can impact the tax benefits you receive, the amount of your standard deduction and the amount of taxes you pay. It may even impact whether you must file a federal income tax return. Are you single, […]