TaxMamas TaxQuips
Daily tax and small business podcast with tax and small business news tidbits covering investment, inheritance real estate and more
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Crossing State Lines
Today TaxMama hears from Juan in Dallas, Texas who wants to know . If I purchase a car in Oklahoma City, Oklahoma and I live in Dallas, Texas what taxes are due or am I obligated to pay taxes... If you were subscribed to TaxQuips, you'd be able to get your own questions answered, too.
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Bankrupting Credit Cards
Today TaxMama hears from Maria in California who is concerned . My husband and I are considering filing for bankruptcy. Can we be prosecuted for going bankrupt on a credit card we used to pay... If you were subscribed to TaxQuips, you'd be able to get your own questions answered, too.
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Payroll Deposits
Today TaxMama hears from Michelle in California who wants to know . If my payroll tax liabilities were more then $50,000 in 2007, and my payroll is done weekly on Monday, what day is my... If you were subscribed to TaxQuips, you'd be able to get your own questions answered, too.
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Gambling Winnings
Today TaxMama hears from Ken in Las Vegas with this dilemma. Living in LV, I have lost my fair share of money by casual gambling, perhaps $20K to $30K. I have only won big a few... If you were subscribed to TaxQuips, you'd be able to get your own questions answered, too.
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Too Early for Forms
Today TaxMama hears from Sarah in Pennsylvania with this question. I have a client who wants to close the business and file final 2008 returns. None of the forms are yet available on IRS... If you were subscribed to TaxQuips, you'd be able to get your own questions answered, too.
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Turning in Tax Criminals
Today TaxMama hears from Victor in Florida who wants to know. Is there some type of reward for turning in or catching tax criminals? Dear Victor, Yup. There is. In fact,... If you were subscribed to TaxQuips, you'd be able to get your own questions answered, too.
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Closing Business Early
Today TaxMama hears from Roger in Pennsylvania who says. I have a client who wants to close the business and file final 2008 returns. None of the forms are yet available on IRS website. How do... If you were subscribed to TaxQuips, you'd be able to get your own questions answered, too.
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Veteran and EITC
Today TaxMama hears from Kathy in New Mexico who says. My husband has his full VA disability and Social Security disability. I do not work. Are we entitled to the earned income tax credit... If you were subscribed to TaxQuips, you'd be able to get your own questions answered, too.
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New Jersey Exit Tax
Today TaxMama hears from Harvey in New Jersey who tells us. I am a Senior Citizen semi-retired. Thinking of leaving the state of NJ. I heard there is a state exit tax. Is this... If you were subscribed to TaxQuips, you'd be able to get your own questions answered, too.
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Passive Loss Limitation
Today TaxMama hears from Clyde in Florida, with this oopsie! My wife and I have rental properties and we reported losses for 2006 and 2007. We recently found out about Form 8582 and the... If you were subscribed to TaxQuips, you'd be able to get your own questions answered, too.
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Default on Sale
Today TaxMama hears from Tony in Texas, with this tale of woe. I sold a business and was never paid all of the money that was owed to me. The company closed and went out of business and never... If you were subscribed to TaxQuips, you'd be able to get your own questions answered, too.
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Stimulus vs Child Tax Credit
Today TaxMama hears from Cho in New York, who says. My 2008 tax rebate check included $300 per child. Do I still expect $1,000 Child Tax Credit for each eligible child when I file my 2008... If you were subscribed to TaxQuips, you'd be able to get your own questions answered, too.
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Education Paid by Insurance
Today TaxMama hears from Angela in Los Angeles, who tells us. My friend got a form 1098-T . There is an entry of $11,200 in box 10 of her 1098-T. She has about $3,000 income from W-2. She is... If you were subscribed to TaxQuips, you'd be able to get your own questions answered, too.
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Overstated Income
Today TaxMama hears from Tom in California, with a problem. I overstated my income. How do I correct this? Dear Tom, This is an interesting problem. Naturally, the way... If you were subscribed to TaxQuips, you'd be able to get your own questions answered, too.
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Mileage to Minister
Today TaxMama hears from Larry in North Carolina, with this dilemma. I have a part-time business servicing computers. I have a separate business checking account, file Schedule C, etc. I... If you were subscribed to TaxQuips, you'd be able to get your own questions answered, too.
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Sort of Day Trading
Today TaxMama hears from Marty in Colorado, with this question. Assuming I have a sole proprietorship whereby some of the business is trading stocks (such as day trading), can I properly... If you were subscribed to TaxQuips, you'd be able to get your own questions answered, too.
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Bounced Paycheck
Today TaxMama hears from Frank in Thousand Oaks, CA who has this problem. I worked for a delivery company who paid weekly by checks. One of their checks bounced. So I did not receive my last... If you were subscribed to TaxQuips, you'd be able to get your own questions answered, too.
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Gifting a Mortgage
Today TaxMama hears from Lorraine in New Jersey with these questions. My father is giving us the cash to pay off our mortgage. How does this effect our 2008 income? Is paying off the... If you were subscribed to TaxQuips, you'd be able to get your own questions answered, too.
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Amending to Separate Returns
Today TaxMama hears from Dana in Florida with this question. I am in a very nasty divorce. We were separated for the past 7 years and for 4 of those years I agreed to file as married filing... If you were subscribed to TaxQuips, you'd be able to get your own questions answered, too.
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SEP IRA Contribution
Today TaxMama hears from Nancy in New York who tell us. I made a timely SEP-IRA contribution prior to the extension deadline. I forgot to file my tax return until October 17th. Is the SEP... If you were subscribed to TaxQuips, you'd be able to get your own questions answered, too.
TaxMamas TaxQuips
