IRS says Medicare Part B premium deductible as SE health insurance (2-11-11) Unexpectedly, the IRS says the Medicare Part B premiums are deductible for purposes of the self-employed health insurance deduction. This is a reversal of their long-standing position, and it appeared in the instructions to Form 1040 without any other announcement. Spidell confirmed the […]
Tag Archives: Taxation in the United States
Today TaxMama hears from Rick in the TaxQuips Forum, with two questions. “1) I got married in 2010 and had over $25,000 in wedding expenses. Is any of this tax deductible? 2) I purchased a used car in 2010 and paid 0 in taxes.https://www.topsedu.xyz/wp-content/languages/new/finance-homework-help.html Is any of this deductible?”
Second Special Voluntary Disclosure Initiative Opens; Those Hiding Assets Offshore Face Aug. 31 deadline Courtesy of IRS [TaxMama note: We have been anxiously awaiting this announcement. IRS had mentioned that this was coming. This will be a huge help to people who never meant to conceal their ‘offshore’ accounts. They just didn’t realize they needed […]
Courtesy of IRS. [TaxMama Note: Read TaxMama’s MarketWatch article, due out on February 11th, about the Homebuyer Credit, tips to avoid delays, and information about how to deal with unusual situations.] If you purchased a home in 2010, you may be eligible to claim the First-Time Homebuyer Credit, whether you are a first-time homebuyer or a long-time […]
Today TaxMama hears from Seth in the TaxQuips Forum, who wants to get credit for his work.buy lipitor online blackmenheal.org/wp-content/languages/new/mg/lipitor.html no prescription “I got an $8,000 tax credit on my 2009 taxes for being a first time home buyer. I spent quite a bit of money insulating my house at the end of 2010.https://theoryofknowledge.net/wp-content/languages/new/online-proofreader.html […]
Today TaxMama hears from Wilson in the TaxQuips Forum, who wants to know. “On Form 1040A, where should I claim my Energy Star appliances, that I purchased in 2010?” Hi Wilson, If you can find a place on Schedule A, go for it. But no, honey, the 1040A is the SHORT form. It only contains […]
According to a CompleteTax survey, you may be overlooking tax breaks that can save you money. When it Comes to Unemployment, Knowing What’s Taxable, What’s Not Makes a Difference (RIVERWOODS, ILL., January 27, 2011) – At the end of 2010, 14.5 million people were unemployed and many more were out of work at one time […]
Today TaxMama hears from John in the TaxQuips Forum, who lays out his issue.buy zovirax online www.pharmalucence.com/wp-content/languages/new/generic/zovirax.html no prescription buy canada zithromax online http://healthinschools.org/wp-content/languages/new/canada/zithromax.html no prescription (shortened) “I’m amending my 2009 Form 1040 return and have a question about the result I am getting on the Qualified Dividends and Capital Gains Tax Worksheet. Despite having […]
TaxMama note: The Franchise Tax Board is starting these audits of people who have been relieved of debt in one manner or another. Odds are, at least 30% – 40% of the audits will turn up errors, with taxes due. I bet that 10% – 15% will turn up errors in the taxpayers favor, where […]
Today TaxMama hears from Craig in the TaxQuips Forum, who asks.buy premarin Canada https://langleyrx.com/premarin.html no prescription “Are items on a HUD-1 (seller’s side), Lines 510-519, deductible by the seller as taxes paid on Schedule A or are they adjustments to the basis?”
Today TaxMama hears from Jill in the TaxQuips Forum, with this question. “In 2010, I received a check from the Oregon Department of State Lands for money on an unclaimed bond that my grandmother bought for me years ago. The Oregon State Treasury had me fill out and send a W-9 form in order to […]
Courtesy of IRS See the Video: IRS2Go: English WASHINGTON — The Internal Revenue Service today unveiled IRS2Go, its first smartphone application that lets taxpayers check on their status of their tax refund and obtain helpful tax information. “This new smart phone app reflects our commitment to modernizing the agency and engaging taxpayers where they want when they […]