Today TaxMama® hears from Stephanie in the Tax Quips Forum with a very valid concern. “I’m concerned about this requirement that PayPal report my sales numbers via the 1099-K. The clients I work with will also have to send me a 1099-MISC. Won’t tha

Yesterday TaxMama® started discussing employee reimbursement plans. Today, TaxMama® explains how company reimbursement policies affect tax audits. Dear Family, Over the years, I have worked on quite a number of audits, often as a consultant to ot

Today TaxMama® hears from Josh in the TaxQuips Forum with a complex question about reimbursement plans. So, TaxMama wants to explain the overall concept.     Dear Family, When you’re an employee, it’s important to understand the differen

Today TaxMama hears from Jimmy in the TaxQuips Forum with a distressing problem. “I received a notice from the State of Ohio Tax Bureau that I owe a large sum of taxes for 2004 and 2005. My taxes are taken directly out of my paycheck by my employer and

Today TaxMama hears from Pam in the TaxQuips Forum with this problem. “My husband and I bought a house for $59.000 five years ago. Our daughter lived in the house, rent-free. Her name was on the title. We sold the house this spring for $48.000. We were

Today TaxMama hears from Donna in the TaxQuips Forum with a good question. “Do I need to 1099 the gardener that is paid $250.00 per month?” Dear Donna, Let me clarify the concept of the 1099-MISC. It is designed to be sent out by businesses tha

  Today TaxMama hears from Sue in the TaxQuips Forum with a timely question. “I was wondering if LLC’s are exempt from getting a 1099 MISC form from our company?”     Dear Sue, Rita Lewis, EA in Fairfield County, CT provides a good a

Today TaxMama hears from Gary in the TaxQuips Forum with a planning question. “We need advice on the logistics for purchasing a home to presently rent, with the intention of living in this home when we retire in a few years. We need more information on

Today TaxMama hears from Susan in the TaxQuips Forum with an ever more common situation. “My dad (age 88) is in a nursing home because my mom can no longer care for him. I wanted to know which nursing home expenses are considered medical expenses.”

Today TaxMama hears from Guy in the TaxQuips Forum with an interesting situation. “My wife took a part time job at the local community college campus about two miles from our house in 2010. Once every week or two she would travel to the campus at anothe