Today TaxMama wants to discuss the importance of reading your credit card statements on a timely basis. Dear Family, Yesterday, I received quite a shock after reading my latest Discover statement. The statement showed a $347 charge that should n

Today TaxMama hears from John in the TaxQuips Forum. John tells us “my client’s ex-husband filed their tax return online last year and had the refund check deposited into his own account. My client did not get to see the return until it was forced o

Today TaxMama wants to talk about a grave problem. Social Security Disability claims are rising at an alarming rate. In just one year, from 2008 to 2009, Social Security disability applications rose by 21 percent. This kind of growth threatens to sink th

Today TaxMama hears from Gerald in Bakersfield with this question. “Am I correct with my understanding that my IRA can not be attached for unpaid debt?” Dear Gerald, I am not sure where you found that information about an IRA. IRAs may be att

Today TaxMama hears from Jack in the TaxQuips Forum, who had a really bad experience. “I have a rental property and rented to a woman for a total of 2 months. First, she gave me two bad checks (1st month rent and deposit) and moved in. I found out 2 wk

Today TaxMama hears from Kris in the TaxQuips Forum, with this concern. “A taxpayer hasn’t filed since 2002. He is self employed, but cannot get all records, namely amount of income and bank statements that far back. I can prove income from 2004 thr

Today TaxMama hears from Laura in the TaxQuips Forum, with these two common issues. “(1) My daughter turned 24 in December of 2009. During the entire 12 months of 2009 she attended school full-time; did not work; earned 0 income; and will not be filin

Today TaxMama hears from David in the TaxQuips Forum, who defines a dealer in real estate as someone who sells a single property for profit, as long as the intent to act as a dealer to real estate is present.” Dear David, You tell us that IRC 45

Today TaxMama hears from Toni in the TaxQuips Forum, who tells us. “I’m doing my own partnership taxes and am confused about entering information. In 2009, I bought, fixed up and sold 2 properties. [and Toni adds lots of details. ] I’m confused bec

Today TaxMama hears from Jami from California in the TaxQuips Forum, who has this question. “My aunt left me her condo and I have to sell it. The deed passed to me a week after I turned 55. Will the 55 & over real estate rule apply to me when I file my