Courtesy of the Internal Revenue Service [TaxMama Note: For more recordkeeping and safeguarding tips, click here.] Hurricane season has started and the IRS encourages individuals and businesses to safeguard their tax records against natural disasters by taking a few simple steps. Here are four tips from the IRS to help you prepare in case a […]
Tag Archives: tax questions
Courtesy of the Internal Revenue Service [TaxMama note: If you have any doubts about telling IRS about your move…read this story!] School’s out for the summer, and summer is a popular time for people to move – especially families with children. If you are moving to start a new job or even the same job […]
In the days when an ice cream sundae cost much less, a 10 year old boy entered a hotel coffee shop and sat at a table. A waitress put a glass of water in front of him. “How much is an ice cream sundae?” he asked. “Fifty cents,” replied the waitress.The little boy […]
Today TaxMama® hears from Debra in the TaxQuips Forum with this common issue. “I work part-time as a bookkeeper for various clients after my full-time job. I report this income on Schedule C. My husband is retired and pays for his own individual medical plan, himself. We file as married jointly. Do his insurance premiums […]
Today TaxMama® hears from Francis in the TaxQuips Forum with this problem. “For some reason that only she understands, my wife decided to filed separately, as head of household (she is working and I am not as I lost my job for health troubles). I filed as married filing separately with no income to declare. […]
Today TaxMama® hears from Cheryl in the TaxQuips Forum who triggers a line of thought. Her client has under-reported income for many years. And it reminded me of other tax pros, including myself, who were asked by family members to help them under-report their income. The usual argument is “If you love me, you’ll file […]
Today TaxMama® hears from Jenni in the TaxQuips Forum who has an amazing job. “I took a job at a university that offers free tuition for my family. The American Opportunity Credit can be used for tuition, books, fees and required materials. We have used the credit for books, fees and a laptop, which is […]
Today TaxMama® hears from Lisa in the TaxQuips Forum with this question. “I have a client that simply executed a quitclaim deed of a second home to her niece. She now wants to sell the home and is concerned about the tax consequences to both herself and her niece. How do I advise them both?”
Dear Family, Next week is the anniversary of the Paperback book, which was first introduced by Penguin. There was a brand of paperback books called PocketBooks. As you may have realized, I am an avid reader. Have been since I could see.
Courtesy of the Internal Revenue Service If you adopted a child last year and requested an extension of time to file your 2011 taxes, you may be able to claim the expanded adoption credit on your federal tax return. The Affordable Care Act temporarily increased the amount of the credit and made it refundable, which […]
Courtesy of the Internal Revenue Service Renting Your Vacation Home Income that you receive for the rental of your vacation home must generally be reported on your federal income tax return. However, if you rent the property for only a short time each year, you may not be required to report the rental income.buy diflucan […]
Father O’Malley answers the phone. ‘Hello, is this Father O’Malley?’ ‘It is!’ ‘This is the IRS. Can you help us?’ ‘I can!’