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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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.
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Care Givers Compensation
Today TaxMama hears from Dave in Massachusetts who has this situation. With my power of attorney, I pay my father-in-laws care givers out of his funds. They work 10 hours a day, just... If you were subscribed to TaxQuips, you'd be able to get your own questions answered, too.
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HOA Income
Today TaxMama hears from Jan in Washington State who tells us. I am on the board of a Homeowners Association. We take in about $20,000 and our expenses are $14,000 leaving $6,000 to go for... If you were subscribed to TaxQuips, you'd be able to get your own questions answered, too.
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Withholding and W-4
Today TaxMama hears from Ron in Wisconsin who tells us. I just got a job working full time for a salary of $18,000 per year. My wife does not work. We have 4 kids at home. How many dependents... If you were subscribed to TaxQuips, you'd be able to get your own questions answered, too.
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Medical Pool
Today TaxMama hears from Angela in Georgia with this story. I do my friends taxes. Can he deduct an above-ground pool installation that was recommended by doctor? His wife has MS and... If you were subscribed to TaxQuips, you'd be able to get your own questions answered, too.
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Reporting Tip Income
Today TaxMama hears from Danni in Florida who tells us I am a hairdresser. What percentage of my tips am I required to report? Dear Danni 100% ALL OF YOUR TIPS! Why... If you were subscribed to TaxQuips, you'd be able to get your own questions answered, too.
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Refusing to Provide TIN
Today TaxMama hears from George in California with this problem. What course of action can a company take if a payee, who has already been paid for services rendered, avoids or refuses to... If you were subscribed to TaxQuips, you'd be able to get your own questions answered, too.
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Cannot Afford Accountant
Today TaxMama hears from OC in Los Angeles with this problem. We couldnt afford an accountant in April to help us with our taxes so we filed for an extension. October 15th is imminent... If you were subscribed to TaxQuips, you'd be able to get your own questions answered, too.
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Gifting Your Children
Today TaxMama hears from Pat in Florida whos quite generous. Can you explain the$10,000 gift tax exemption to me? I want to gift my children. Dear Pat, Well, your... If you were subscribed to TaxQuips, you'd be able to get your own questions answered, too.
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Hurricane Ike Losses
Today TaxMama hears from Char in Texas with a simple question or two. Are my losses from Hurricane Ike deductible? And how? Dear Char, Sorry youre facing all... If you were subscribed to TaxQuips, you'd be able to get your own questions answered, too.
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Divorce Status
Today TaxMama hears from Mike in Texas who wants to know. If I were to file for a divorce on Oct 1, 2008, what will be my tax status on Jan 1, 2009? Dear Mike, Does your wife... If you were subscribed to TaxQuips, you'd be able to get your own questions answered, too.
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The Bailout Bill - EESA
[Note: You will find all working links in the Resource Box below, as always.] Today TaxMama sits here, scouring the news sites for tangible information about the Legislatures voting over... If you were subscribed to TaxQuips, you'd be able to get your own questions answered, too.
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In-Home Care
Today TaxMama hears from Fran in Maryland with this concern. I have a disabled sister. She is not my dependent and does not live with me. Some of my siblings and I would like to pool our... If you were subscribed to TaxQuips, you'd be able to get your own questions answered, too.
TaxMamas TaxQuips
