Tag Archives: Taxation in the United States

Becoming an S-Corp

Today Julie from Mountain View, CA says, “I’m just launching a new business. After talking to an attorney, I decided I wanted to be an S-corp. I incorporated on May 12, 2005. When I read the instructions for Form 2553 (Election by a Small Business Corporation), it stated that unless I filed for an S-corp. […]

Sale of Rental

Today, Michael from Palm Bay, FL tells us “I bought a home in 1984 as my residence. I was transferred in 1991 and had to rent it due to there being no market for home sales.https://www.richereducation.co.uk/wp-content/languages/new/write-an-analysis-essay.html It was rented (rental property schedule E) until 2004, when I retired and sold it. Do I declare the […]

Tax Bankruptcies

From: Everywhere – we had about 10 questions about tax bankruptcies, this week alone. Who knows, perhaps this article re-surfaced Dear TaxMama, Is it true that you really can get rid of your taxes through bankruptcy? What is a tax bankruptcy and how can I get one? Signed… everyone. Dear Family, About three years ago, […]

Ask TaxMama Issue #1 – Merrily We Tax Along…

Ask TaxMama Merrily We Tax Along… Welcome to the first edition of Ask TaxMama. AskTaxMama will be published every two weeks. You will find the complete text of this issue on the site at https://taxmama.wpengine.com/AskTaxMama/asktm_1.htm Lower Standards For the first time in anyone’s memory, the IRS arrived at a standard mileage rate that was lower than […]