Today TaxMama® hears from Bill in the Tax Quips Forum who raises a good question. “I have a lot of independent distributors asking about deducting their autoship of product for personal use. They say that their tax person said you can claim the deduction because you have to “be a product of the product” or […]
Tag Archives: Taxation in the United States
Today TaxMama® hears from Stephanie in the Tax Quips Forum with a very valid concern. “I’m concerned about this requirement that PayPal report my sales numbers via the 1099-K. The clients I work with will also have to send me a 1099-MISC. Won’t that be income that is double reported? Usually I just enter my […]
Yesterday TaxMama® started discussing employee reimbursement plans. Today, TaxMama® explains how company reimbursement policies affect tax audits.
Today TaxMama® hears from Josh in the TaxQuips Forum with a complex question about reimbursement plans. So, TaxMama wants to explain the overall concept.
Courtesy of IRS. WASHINGTON — The Internal Revenue Service today released a new set of tax gap estimates for tax year 2006. The tax gap is defined as the amount of tax liability faced by taxpayers that is not paid on time. The new tax gap estimate represents the first full update of the report […]
WASHINGTON — National Taxpayer Advocate Nina E. Olson today released her annual report to Congress, identifying the combination of the IRS’s expanding workload and declining resources as the most serious problem facing taxpayers. The result, the report says, is inadequate taxpayer service, erosion of taxpayer rights, and reduced tax compliance. The Advocate expressed her continuing […]
Today TaxMama hears from Jimmy in the TaxQuips Forum with a distressing problem. “I received a notice from the State of Ohio Tax Bureau that I owe a large sum of taxes for 2004 and 2005. My taxes are taken directly out of my paycheck by my employer and I know that I paid my […]
Today TaxMama hears from Susan in the TaxQuips Forum with an ever more common situation. “My dad (age 88) is in a nursing home because my mom can no longer care for him. I wanted to know which nursing home expenses are considered medical expenses.”
Today TaxMama hears from Alex in the TaxQuips Forum who is confused. “I’m wondering what my refund would be if I claimed exempt status for about half of 2011.I’m a full-time student, filing as single, with a gross income of about $10,000. I tried doing some of my taxes on TurboTax, but it said my […]
Courtesy of the Internal Revenue Service WASHINGTON — Individuals and businesses making contributions to charity should keep in mind several important tax law provisions that have taken effect in recent years. Some of these changes include the following: Special Charitable Contributions for Certain IRA Owners This provision, currently scheduled to expire at the end of […]
Today TaxMama hears from Jason in the TaxQuips Forum who wants to get it right. Let me summarize his issue – and you can read the details, here. He has hired Grandma to provide child-care in his home. He’s pretty sure that he is not required to treat her as an employee, according to various […]
It’s birthday time. You see the greeting to Dame Judi Dench – easily one of my all-time favorite actors. But it’s also Lulu’s birthday, and David’s and Barbara’s and Harlan’s and Tony and Tracy and Alicia and lots of other great people this first half of December. So happy birthday to you all! Sometime […]