Tag Archives: Value added tax

News Release – Stimulus Package – Final Version Summary

CCH Special Tax Briefing Final Stimulus Plan Provides Tax Breaks For Individuals, Businesses, Environment, Government (RIVERWOODS, ILL., February 13, 2009) – Senate and House conferees have agreed on the final provisions of The American Recovery and Reinvestment Act of 2009, the major “economic stimulus” measure of the new Obama administration, according to CCH, a Wolters […]

Ask TaxMama 580 – The Votes are In

Dear Family, Join me soon. I will be visiting Gina and Kat at the Moms Making a Million Radio Show Friday 8:00 AM PT www.blogtalkradio.com/momsmakingamillion . If you missed the show, you can listen later. This is a delightful site dedicated to helping a million moms make a million dollars. Don’t you want to be […]

Ask TaxMama Issue 563 – Good Choices

Dear Family, Today’s theme was not planned. By coincindence, the very first two stories I researched this morning are about Orthodox Jewish experiences. In case you didn’t know, I was brought up in that community, attending full-time Hebrew or Jewish schools from nursery school all the way back in Hungary to an early admission to […]

Ask TaxMama Issue 558 Happy Summer

Dear Family, It’s my mother’s birthday today. Her age exceeds the number of years mentioned at the beginning of President Lincoln’s Gettysburg address (add 1 to Lincoln’s number). Happy Birthday mom! Except for being in constant pain, she is remarkably spry and independent. All those admonitions to do all things in moderation seem to have […]

Ask TaxMama Issue 515 – Happy Tax-Free Season

Dear Family, Every summer around this time, states all over America offer special tax-free days. These are weeks or weekends when families can buy their back-to-school supplies, and certain other needed merchandise, without having to pay sales taxes. Clicking on today’s graphic will take you to the national list. Just look for your states. On […]

Housing Act gives and takes away tax benefits

On July 26, 2008, the Senate passed the “Housing Assistance Tax Act of 2008” (H.R. 3221). The president is expected to sign the bill. Among its provisions are: A refundable credit of up to $7,500 on the purchase of a principal residence by a “first-time homebuyer.” A first-time homebuyer is a taxpayer who hasn’t owned […]

House Bill Provides Low-Income Tax Benefit, Amt Fix

Courtesy of The National Women’s Law Center www.nwlc.org Bill Closes Private Equity Tax Loophole to Pay for Changes (Washington, D.C.) The U.S. House is expected to vote Friday on a bill that promotes tax fairness and fiscal responsibility by expanding eligibility for the refundable child tax credit, temporarily fixing the alternative minimum tax, and closing […]

Just Plane Rental

Today TaxMama® hears from NCTaxLady in the TaxQuips Forum, with an interesting situation. (Let me summarize) “My client bought an airplane in June. He used it 11 times and rented it out 5 times. How do I handle the reporting of this? And should he put the plane into an LLC?”

Construction Sales Tax

Today TaxMama® hears from Yimmy in the TaxQuips Forum, who wants to know.  “I moved into a newly constructed home in Oct.https://www.giveapint.org/wp-content/languages/new/propecia.html 2012. Are the sales taxes paid on the construction materials used in building the home tax deductible?buy cipro online www.mabvi.org/wp-content/languages/new/usa/cipro.html no prescription The home is in Georgia.”

Sold Family Home

Today TaxMama® hears from Madeline in the TaxQuips Forum with this situation. “My siblings and I just sold our family home in New Hampshire. I live in California. We each got $40,000.00. How will this affect my taxes next year?”