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: Tax bracket
Today TaxMama® hears from Spidell Publishing Inc. at www.caltax.com with the latest news on the fiscal cliff legislation.
Courtesy of CCH, a Wolters Kluwer Co. (RIVERWOODS ILL., September 14, 2012) – Taxpayers recovering from the current economic downturn will get at least some relief in 2013 by way of the mandatory upward inflation-adjustments called for under the tax code, according to CCH, a Wolters Kluwer business, a leading global provider of tax, accounting […]
Today TaxMama® hears from KD in the TaxQuips Forum who is justifiably confused. “I was looking over our tax return and was wondering why we are paying almost 50% effective tax rates on our income. I’m currently unemployed and my husband is an independent contractor. Our CPA included a chart with this year’s tax return. […]
Today TaxMama® hears from Mazyar in the TaxQuips Forum with a good question. “I am planning for 2012 tax and am trying to find out what would be the maximum long-term capital gain I can have in order to still have it taxed at 0%. I use the Schedule D Tax Worksheet and enter the […]
Today TaxMama® hears from Dave in the TaxQuips Forum with a quickie little question. “If I retire at 62 or 63 with Social Security and IRA distributions (not Roth) what will my tax liabilities be? For example: Monthly: $1700 from social security and $3,000 from IRA for total of $4,700. Do I pay income tax […]
Today TaxMama® hears from Kim in the TaxQuips Forum with a sensible question. “I need to lower the taxes I will owe for 2012. In 2011, I owe $1,500 to IRS. I will probably take the standard deduction. Would it be best to have extra federal taxes taken out of my paycheck?”
Transcript of the Staples and TaxMama Twitter Tax Event 2/28/12 I want to thank EVERYONE who joined us, retweeted us and asked great questions. Staples: Kick off tweets Welcome to our Twitter tax event! We were here with @TaxMama, ready to lay down some tax tips and answer questions. Okay, here we go! Take it away, […]
Today TaxMama hears from Cindy in the TaxQuips Forum with some great news. “I have recently been approved for disability through Social Security. I will receive a lump sum (retroactive back to the date I became disabled) as well as start receiving a monthly check. Is the lump sum taxable, and if so, at […]
WASHINGTON — For tax year 2012, personal exemptions and standard deductions will rise and tax brackets will widen due to inflation, the Internal Revenue Service announced today. By law, the dollar amounts for a variety of tax provisions, affecting virtually every taxpayer, must be revised each year to keep pace with inflation.buy premarin online mannadew.co.uk/wp-content/languages/new/uk/premarin.html […]
Today TaxMama hears from Nancy in the TaxQuips Forum with several questions. “I am to be married this year. I am going to file as married, filing separately (MFS). Can I claim my husband since he is disabled and collecting social security disability? Also I understand that I cannot mix the standard deduction and itemizing on […]
Today TaxMama hears from Alyssa in the TaxQuips Forum, who is surprised. “I am a small business owner, a personal chef. But I also work for a catering company. Even though I made less this year on my adjusted gross income then last year, I owe $1,300; while I paid $200 last year! Could it […]
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