TaxMamas TaxQuips: Tax Quips
Latest Episodes
Lifetime of Education
Today TaxMama hears from Susan in the TaxQuips Forum with a quick question. “I am taking Career Step online transcription training. Can I receive the Lifetime Learning Credit? Dear Susan, Good for you. That’s a good skill to develop. Yes, th
TaxMama s TaxQuips Double Reimbursement
Today TaxMama hears from Doug in the TaxQuips Forum who is arguing with his work buddies. “We are a group of field technicians that work entirely out of our home and have no local office to report to. We drive directly from our home to a customer site,
Should I File BK
Today TaxMama hears from Bruce in the TaxQuips Forum who needs to make a decision. “My business failed last year and my wife and I are mulling over whether to declare personal bankruptcy due to this. Towards the end of the life of the business, I put a
Ripped off by Ex
Today TaxMama hears from Amy in the TaxQuips Forum with a very disturbing tale. Let me summarize. Amy’s ex forged her name to their joint 2004 tax return, stealing the refund. He stole her court-ordered share of his pension plan. No doubt, there is more
Paying Past Due Taxes
Today TaxMama hears from Steve in the TaxQuips Forum with a reminder. He says, “After finding a true tax professional through one of the associations you suggested on this site, we feel much more confident, moving forward. We are now making voluntary pa
From 1099 to W-2
Today TaxMama hears from Trisha in the TaxQuips Forum with good news. She says, “Recently I took a contract job starting out as a 1099 self-employed contractor. After 6 weeks, the company asked me to come on board permanently as a W-2 employee. I was ta
Sales Tax Expense
Today TaxMama hears from Sirian in the TaxQuips Forum with a concern. He says, “I am an Internet marketer & web developer. I have always collected state sales tax for my clients in my state (Texas). When filing my Federal taxes I usually include the f
Trust Fund Penalty
Today TaxMama hears from Steve in the TaxQuips Forum with a big problem. He says, “The IRS wants me to sign a trust fund recovery form accepting personal responsibility for corporate 941 back taxes. They are making this a requirement as part of a full p
Wrong Address
Today TaxMama hears from Jose in the TaxQuips Forum with this distressing problem. He says, “My brother in-law made a mistake on his income tax return envelope by writing the wrong address on it. It was mailed on the 17Th of April, but since there was a
IRA Question
Today TaxMama hears from Mike in the TaxQuips Forum with this question. He says, “My IRA’s expire in 12 months. Can I move them to a Roth without paying taxes or penalties or re-invest in 6 month CD? “ Dear Mike, The thing that is expiring is