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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Selling Building
Today TaxMama hears from Oscar in Michigan who says, I have a friend who wants to sell a commercial building that has been fully depreciated. She and her husband were co-owners of the... If you were subscribed to TaxQuips, you'd be able to get your own questions answered, too.
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Oil and Gas
Today TaxMama hears from Dan in Texas who tells us, My neighborhood just completed oil/gas lease with a local oil company. I am trying to find out information on the tax rate that I will... If you were subscribed to TaxQuips, you'd be able to get your own questions answered, too.
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Active Participant
Today TaxMama hears from Gene in California who tells us, My wife and I are landlords. We own 8 single family homes as rentals, 7 of them out of state. We both have full time jobs, but manage... If you were subscribed to TaxQuips, you'd be able to get your own questions answered, too.
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Generous Family
Today TaxMama hears from Rick in California who says Im selling a home in which Im a 50% owner. This home was given to me by my living grandmother in 2001; which was given to her... If you were subscribed to TaxQuips, you'd be able to get your own questions answered, too.
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Lottery Winner
Today TaxMama hears from Tom in Arizona who asks If I win the lottery, to how many people can I give a one-time, $1 million lifetime exclusion? Hi Tom, Naturally, you can... If you were subscribed to TaxQuips, you'd be able to get your own questions answered, too.
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His and Her Businesses
Today TaxMama hears from a Jason in Arizona who says My wife and I both started businesses in 2007. My wife sells candles and I do accounting. I know since we do joint taxes that normally... If you were subscribed to TaxQuips, you'd be able to get your own questions answered, too.
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Violating Divorce Decree
Today TaxMama hears from a divorcee who is concerned. She says I got divorced in 2001. The decree stated that we would each claim one child as a dependent. When I moved to another state in... If you were subscribed to TaxQuips, you'd be able to get your own questions answered, too.
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Real Estate Activity
Today TaxMama hears from Jean in Texas who asks. How can I assure I meet the qualifications of a real estate professional. I am a landlord, not a real estate broker or agent. ... If you were subscribed to TaxQuips, you'd be able to get your own questions answered, too.
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Writing off Software
Today TaxMama hears from Rodney in Texas who asks. How do you determine the difference between a deduction that you can take in full in the year of purchase vs the deduction that is spread... If you were subscribed to TaxQuips, you'd be able to get your own questions answered, too.
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Daycare Service
Today TaxMama hears from Jodi in California with this question. I am considering babysitting for my grandbaby in my home for a monthly fee. My son daughter-in-law want to claim the... If you were subscribed to TaxQuips, you'd be able to get your own questions answered, too.
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Late SEP Contributions
Today TaxMama hears from David in North Carolina who wants to know. If a self-employed taxpayer obtains a valid extension, then files a return before the extension deadline, can the taxpayer... If you were subscribed to TaxQuips, you'd be able to get your own questions answered, too.
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Capital Gains
Today TaxMama hears from Shirley in Florida who asks. At what rate are capital gains taxed? Suppose your adjusted gross income before the capital gain is $8,000 and the capital gain is... If you were subscribed to TaxQuips, you'd be able to get your own questions answered, too.
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Excess Lease Mileage
Today TaxMama hears from Kelli in Michigan with this question. I am currently self-employed and will have over $3,000 in mileage charges due on my lease when I turn the car in next year. ... If you were subscribed to TaxQuips, you'd be able to get your own questions answered, too.
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Employee Business Expenses
Today TaxMama hears from Bruce in Florida who wants to know. What are the correct deductions for someone who works for a company but pay their own expenses. i.e. daily meals, miles, hotel,... If you were subscribed to TaxQuips, you'd be able to get your own questions answered, too.
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S Corp Info
Today TaxMama hears from Steven in Connecticut who says. Are the salaried employees liable to pay the taxes or does the company pay? Any info on S-Corp and tax payouts would be deeply... If you were subscribed to TaxQuips, you'd be able to get your own questions answered, too.
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Useful Resources
Today TaxMama wants to give you some no-charge resources to help you protect your finances and reduce your stress, and perhaps improve your health. Besides, all the questions directed to... If you were subscribed to TaxQuips, you'd be able to get your own questions answered, too.
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Treasure Hunter
Today TaxMama hears from Joanna in New York who tells us. I have been working as a finder, uniting people with their abandoned funds in NY State funds lost due to inactivity. These... If you were subscribed to TaxQuips, you'd be able to get your own questions answered, too.
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First Home Draws
Today TaxMama hears Kathy in Oklahoma who asks . Do I have to pay taxes on money withdrawn from an annuity in order to purchase a home? Dear Kathy, Yup! Unless that... If you were subscribed to TaxQuips, you'd be able to get your own questions answered, too.
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I Want to do it Myself
TaxMama s Tax Quips I Want to do it Myself 7/10/08 Thursday Today TaxMama hears Lana in Illinois who says . I started a new S corporation last year, but let the paperwork... If you were subscribed to TaxQuips, you'd be able to get your own questions answered, too.
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Political Candidate Expenses
Today TaxMama hears from Steve in Tennessee with an interesting question . I am running for Mayor in my little town. Are my campaign expenses deductible? Dear Steve, Good... If you were subscribed to TaxQuips, you'd be able to get your own questions answered, too.
TaxMamas TaxQuips
