Tag Archives: USD

Avoid Bad Tenants

Today TaxMama hears from Jack in the TaxQuips Forum, who had a really bad experience.  “I have a rental property and rented to a woman for a total of 2 months. First, she gave me two bad checks (1st month rent and deposit) and moved in. I found out 2 wks later the checks were bad. […]

The Economy Is So Bad That

I got a pre-declined credit card in the mail. Wives are having sex with their husbands because they can’t afford batteries.  Taxpayers don’t have any taxes to pay.

Ask TaxMama Issue 566 – All about Education

Dear Family, We were at the IRS Tax Forums last week. You can read all about our experiences in this week’s IRS News. There will be more information next week, as I have time to keep writing. It will just pour out as I sit at the keyboard. The fun part was meeting so many […]

A Trip to the IRS Tax Forums, Page 2

Problem Resolution and Focus Groups Problem Resolution had a facility at the Tax Forum. One of my friends brought a case file with her (and power of attorney forms, etc.). When picking up her registration packet on Monday, she was given a form to fill out with the specifics of her case (and a copy […]

A Trip to the IRS Tax Forums, Page 1

Last week, all my tax staff and I took our annual trip to the IRS Tax Forum. When these forums first started out many years ago, the fee was $25 for three days of education provided by IRS staff and a variety of tax professionals from sponsor associations. It was an amazing value – especially […]

Summer 2010 Statistics of Income Bulletin – Shows Drops in Small Business Income

WASHINGTON — The Internal Revenue Service announced availability of the summer 2010 issue of the Statistics of Income Bulletin, which features sole proprietorship data for tax year 2008. About 23 million individual income tax returns reported at least one nonfarm sole proprietorship in tax year 2008, a 2 percent decrease since the prior year. Reported […]

NO NURSING HOME FOR ME!

About two years ago my wife and I were on a cruise through the western Mediterranean aboard a Princess liner. At dinner we noticed an elderly lady sitting alone along the rail of the grand stairway in the main dining room. I noticed that all the staff, ship officers, waiters, busboys, etc. all seemed very […]

Gain on Real Estate

Today TaxMama hears from Toni in the TaxQuips Forum, who tells us.  “I’m doing my own partnership taxes and am confused about entering information. In 2009, I bought, fixed up and sold 2 properties. [and Toni adds lots of details. ] I’m confused because I’ve added the gain twice from Form 4797.  What am I […]

Selling Inherited Home

Today TaxMama hears from Jami from California in the TaxQuips Forum, who has this question.  “My aunt left me her condo and I have to sell it. The deed passed to me a week after I turned 55. Will the 55 & over real estate rule apply to me when I file my tax return?”

Tax Cuts for Wage-Earners

Today TaxMama hears from Chris in the TaxQuips Forum, who puts out a challenge to TaxMama. He says, “Tax mama has advice for business owners. But how does an individual get more money on their paychecks?”

Inheriting vs Gifting

Today TaxMama hears from Terri in the TaxQuips Forum, with an delightful problem to have.  “What is the best way to reduce the tax consequences of inheriting land? The person inheriting the land is not related to the owner.  He could possibly marry her if that would help matters. The land was inherited and has very low […]

Untaxed Internship

Today TaxMama hears from Karol in the TaxQuips Forum, with an odd question.  “I have a paid internship in the Rhode Island state vocational rehabilitation agency and they pay me $11 an hour (I work the most 35 hrs/wk) without taking out taxes. I am worried about what I will owe when I do my taxes later […]