Today TaxMama hears from John in the TaxQuips Forum, who wants to employ students.“ The business I work for is very small. It is a nonprofit educational facility, and we are swamped with work, without financial leverage to hire additional staff. I want

Today TaxMama hears from Mark in the TaxQuips Forum, who’s doing well.“ If I purchase a cruiser with a kitchen, 2 bathrooms, and 2 bedrooms, does it qualify as a second house? May I deduct interest paid on the boat as mortgage interest? Several boat d

Today TaxMama hears from John in the TaxQuips Forum, who just got a promotion. “ I get a monthly salary as well as a $400 travel allowance. I live across the border in another state and have a 60 mile round trip as well as tolls. My employer thought i

Today TaxMama hears from Lucy in the TaxQuips Forum, who needs to know. “ I purchased a business in 2010 by giving the original business owner a down payment and then monthly payments thereafter. She is a limited liability company, but has dissolved th

Today TaxMama hears from TaxDaughter in the TaxQuips Forum, who just received some unpleasant news. “My new accountant asked me to give him a summary of all my Internet purchases. He says California will assess taxes on the Internet sales since they hav

Today TaxMama hears from Rick in the TaxQuips Forum, with two questions. “1) I got married in 2010 and had over $25,000 in wedding expenses. Is any of this tax deductible? 2) I purchased a used car in 2010 and paid $500 in taxes. Is any of this deductib

Today TaxMama hears from Seth in the TaxQuips Forum, who wants to get credit for his work. “I got an $8,000 tax credit on my 2009 taxes for being a first time home buyer. I spent quite a bit of money insulating my house at the end of 2010. My Dad told

Today TaxMama hears from Wilson in the TaxQuips Forum, who wants to know. “On Form 1040A, where should I claim my Energy Star appliances, that I purchased in 2010?” Hi Wilson, If you can find a place on Schedule A, go for it. But no, honey, th

Today TaxMama hears from Angela in the TaxQuips Forum, who wants to do this. “I’m trying to maximize my deductions and this is the first time I’m able to use medical deductions. My husband is unemployed and has high co-pays and COBRA payments. When

Today TaxMama hears from John in the TaxQuips Forum, who lays out his issue. (shortened) “I’m amending my 2009 Form 1040 return and have a question about the result I am getting on the Qualified Dividends and Capital Gains Tax Worksheet. Despite havin