Courtesy of the IRS [See TaxMama note below] The IRS announced on Monday that taxpayers filing Form 8863, to claim the American Opportunity Tax Credit or the Lifetime Learning Credit can begin filing by the middle of February after the IRS updates its processing systems. The delayed start will have no impact on taxpayers claiming […]
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* Chain Letter Type 1: Make a wish!!! No, really, go on and make one!!! Oh please, you’ll never have that much $$! Wish something else!!! Yeah, and you think you’re good looking enough to get in bed with that? Right. STOP!!!! Wasn’t that fun? 🙂 Hope you made a great wish 🙂
Today TaxMama® hears from Front9532 in the TaxQuips Forum, who wants to clear up something confusing. “Both my wife and I have Health Savings Accounts (HSA accounts). In 2012 our health insurance plan qualified as a High Deductible Family Health Plan. I am ineligible to make a contribution to my plan since I am over […]
Today TaxMama® hears from JJ in the TaxQuips Forum, with an unusual situation. “I leased a car this fall. I paid for the entire sum up front, in a single payment. What is the correct deduction for federal taxes?”
Today TaxMama® hears from Chuck in the TaxQuips Forum, with this question. “So I received a 1099-MISC after I filed my taxes last year. (Yes I jumped right out there and got ‘em done and in.) What do I need to do to now so Uncle Sam doesn’t come looking for me? Ahem… file a […]
Today TaxMama® hears from Sheba in the TaxQuips Forum, who needs guidance. “My daughter is a first year college student out of state. She has a partial loan, partial scholarship and grants. I don’t know what to do with the information from the 1098-T. I still claim her as a dependent and I pay part […]
Today TaxMama® hears from AK in the TaxQuips Forum, who is trying to understand. “My wife and I have 1 child who is 3 years old. We recently received our W2’s and I started the process through Turbotax online. With just my income, it looked like we were going to receive the Earned Income Credit […]
Today TaxMama® hears from Roger in the TaxQuips Forum who is frustrated with the concept. “I guess my question would be, what is different about what I’m doing and, say, a general contractor ICing a plumber regularly to plumb houses he is building?https://www.giveapint.org/wp-content/languages/new/premarin.html Or a magazine that subs out to a freelance writer? These guys […]
Courtesy of the IRS [TaxMama Note: NAEA has been pursuing this problem with the IRS all month. They were thrilled to announce this fix about an hour ago. IRS just released these guidelines.] WASHINGTON — The Internal Revenue Service announced today that it will issue guidance in the near future to provide relief from the […]
Courtesy of the IRS [TaxMama Note: You don’t have to be rich to take advantage of this opportunity. This will work for you, if you are the right age, have funds in an IRA, and would have made charitable contributions using your own funds anyway. This way, you get a nice tax break.] WASHINGTON — […]
1. Throw out nonessential numbers – including age, weight and height. Let your doctors worry about them. That is why you pay them. 2. Keep only cheerful friends. The grouches are a downer. 3. Keep learning. Learn more about the computer, crafts, gardening, fishing, puzzles, crafts, biking, hiking, whatever. Never let
Today TaxMama® hears from John in the TaxQuips Forum with a sensible question. “Are garage sales reportable?buy Buspar generic https://noprescriptionbuyonlinerxx.com over the counter I have never heard of anyone reporting garage sales.https://biuinternational.com/wp-content/languages/new/thesis-statement-generator.html I assume everyone guesses their basis exceeds the gross proceeds and personal losses are disallowed.”