Courtesy of the IRS Some employees may be able to deduct certain work-related expenses. The following facts from the IRS can help you determine which expenses are deductible as an employee business expense. You must be itemizing deductions on IRS Schedule A to qualify. Expenses that qualify for an itemized deduction generally include:
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So you’ve spent the last month dreading the thought of doing your tax return, but the day has come and you know it’s time to get it over with. You sit down and pull up your tax sofware, and start answering questions. Name? check Address? check….Then, you run into that question that you’re unsure about. […]
Let’s talk about the TaxQuips Forum and asking questions. We’ve gotten a flood of questions this month.https://www.topsedu.xyz/wp-content/languages/new/personal-statements-for-law-school.html And I am very frustrated with some of them.buy generic doxycycline online blackmenheal.org/wp-content/languages/new/buygeneric/doxycycline.html no prescription https://www.topsedu.xyz/wp-content/languages/new/resume-writing-services-cost.html It seems that people are getting excessively accustomed to TwitterTalk to TextSpeak. Stop it!
The Japanese eat very little fat and suffer fewer heart attacks than the British or Americans. On the other hand the French eat a lot of fat and also suffer fewer heart attacks than the British or Americans.
The Fifth weekly winners in TaxMama’s search for the Ultimate Tax Nerd of 2012 are: Melissa Guy for Just barely April 18th 2012 Susan Holtgrefe, EA for How life looks with your tax goggles on
Today TaxMama® hears from Connie in the TaxQuips Forum with an excellent question. “I have a long term care insurance policy that I took out last year. This insurance is to cover you if you are put in a nursing home or other type of care facility; it is not long term disability insurance. I […]
Today TaxMama® hears from Toni in the TaxQuips Forum with this sad problem. “I volunteer with AARP Tax-Aide. Last week a taxpayer brought in a 1099-C with his other papers. It turns out he had co-signed for a vehicle. When the vehicle ‘owner’ disappeared, the lienholder collected a reduced amount from the co-signer. It was […]
Today TaxMama® hears from Tina in the TaxQuips Forum with this convoluted question. “A person has resided in the same one-family residence in for the last ten years without any children or wife. This person was bound into an estate contract to sell his residence for $800,000 in November, 2011 when his tax basis in […]
Today TaxMama® hears from Della in the TaxQuips Forum with this brief question. “I live in California and I am an online seller. I have received a Form 1099 K. Where do I report my sales tax that I should have collected from California buyers? The question is where do I report this information on […]
Dear Family, Out here in the Valley, the day looks dark and gloomy. That in-between time, when the world is trying to decide whether or not to rain. The birds and squirrels seem to love it. Lots of fluttering around (birds) and frolicking (squirrels). Rick just called and said he’s taken a busload of children […]
Courtesy of the IRS Parents may not realize that there are tax rules that may affect their child’s investment income. The IRS offers the following four facts to help parents determine whether their child’s investment income will be taxed at the parents’ rate or the child’s rate. 1. Investment income Children with investment income may […]
Courtesy of the IRS [TaxMama note: Goodness. This many tax tip is SO limited. It doesn’t include any information about HSAs, Sec 105 plans for hiring your spouse, or health care credits small employers can get for paying health insurance premiums for their employees.] If you’re self-employed and paying for medical, dental or long-term care […]