Questions & Answers

Adopting Two Girls

Today TaxMama hears from Charlotte in the TaxQuips forum, who tells us. “We adopted my niece’s 2 children this year. But my husband’s Social Security income wasn’t taxed. So how do I get the child income tax credit? or can I? I don’t work.” Dear Charlotte, Congratulations on expanding your family. You say “my... [Read more of this review]

Ask TaxMama Issue 539 - Super Bowl Weekend

Dear Family, Did you enjoy the Stop Taxing My Patience Contest – from Office Depot and H&R Block? The questions were so interesting. I love good questions – especially if they are short and challenging. The forum and all the questions will stay up for your benefit. But you can no longer post to it. Please post your questions in the... [Read more of this review]

Is this Income Taxable?

While most income you receive is generally considered taxable, there are some situations when certain types of income are partially taxed or not taxed at all. To ensure taxpayers are familiar with the difference between taxable and non-taxable income, the Internal Revenue Service offers these common examples of items that are not included in your... [Read more of this review]

Seven Tax Tips for Disabled Taxpayers

Taxpayers with disabilities may qualify for a number of IRS tax credits and benefits. Parents of children with disabilities may also qualify. Listed below are seven tax credits and other benefits that are available if you or someone else listed on your federal tax return is disabled. 1. Standard Deduction Taxpayers who are legally blind may be entitled... [Read more of this review]

Marketing 101

Several people have asked for an explanation of Marketing. Perhaps the following analogies will help clear it up: You see a handsome guy at a party. You go up to him and say, “I’m fantastic in bed.” – That’s Direct Marketing. You’re at a party with a bunch of friends and see a handsome guy. One of your friends goes... [Read more of this review]

Bankrupt Without W-2

Today TaxMama hears from Andrew in TaxQuips forum, with this problem. “I worked for a company that went bankrupt; now I’m not getting a W-2. I didn’t keep my final pay stub. I have no way of knowing how much I made while working for the company. What now?” Dear Andrew, That’s a real bummer. Just curious, why did you... [Read more of this review]

Renting Bounce Castles

Today TaxMama hears from Shaunna in Washington State, who tells us. “I own a small rental business. Is the bounce castle I rent out considered an asset or inventory?” Dear Shaunna, That’s a good question. We had a discussion about a similar issue recently – about video rentals. http://taxmama.com/video-rentals/ The concept... [Read more of this review]

Unclaimed Mileage

Today TaxMama hears from Kim in South Carolina, who has been remiss. “I am a bookkeeper and did not claim mileage as unreimbursed employee expenses last year. Can I claim the 2008 mileage and 2009 on my 2009 taxes? Or did I just lose that mileage? I don’t want to amend the 2008 return if I don’t have to.” Dear Kim, It’s... [Read more of this review]

Computers for College

Today TaxMama hears from Linda in Kentucky with a reasonable question. “My son-in-law had on-line college classes that required him to have internet services and a computer. Do these count towards the tax credits? Also, how would he go about getting the books, supplies, gas, etc. credited?” Dear Linda, In a very odd and inconsistent twist,... [Read more of this review]

Ask TaxMama Issue 538 - Stop Taxing My Patience

Dear Family, Much of my time this month has been spent getting ready to do the radio tour for the Office Depot – H&R Block Stop Taxing My Patience Promotion; and getting the contest set up, so you can ask your most pressing tax question – and 5 random winners will get a box of H&R Block at Home Premium software. We’ve been... [Read more of this review]

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