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TaxMama�
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TaxMama® – Free Tax Advice Where Taxes Are Fun
TaxMama’s® TaxQuips – Your Tax Money at Work
https://taxmama.audioacrobat.com/download/taxmama-Tax-Money-Work.mp3 It’s TaxQuips time from TaxMama.com® . Today TaxMama® wants to talk to you about how the IRS is spending some of the money they got from the Inflation Reduction Act Dear Family, When Congress granted the IRS about $80 billion dollars as part of the Inflation Reduction Act (IRA), I heard a lot of screaming and griping. Especially concerns about more aggressive collections and audit actions. On the other hand, we have all had our complain...
2023-08-10
00 min
TaxMama® – Free Tax Advice Where Taxes Are Fun
TaxMama’s® TaxQuips Is Your Business a Hobby?
https://taxmama.audioacrobat.com/download/taxmama-Business-or-Hobby.mp3 It’s TaxQuips time from TaxMama.com® . Today TaxMama® wants to talk to you about your business. Dear Family, We are getting a lot of questions from tax pros and taxpayers about businesses that keep showing losses. Is the IRS going to look at them and disallow them as businesses – treating them like hobbies? First let me explain why this is important from a tax reporting perspective. A business can deduct all its legitimate operating e...
2023-05-25
00 min
TaxMama® – Free Tax Advice Where Taxes Are Fun
TaxMama’s® TaxQuips Should you Consult a Tax Pro
https://taxmama.audioacrobat.com/download/taxmama-Consult-Tax-Pro.mp3 It’s TaxQuips time from TaxMama.com® . Today TaxMama® wants to talk to you about some questions people have asked TaxMama® after making major financial moves and ending up with extra taxes – or none of the tax breaks they were counting on. Dear Family, Well, we’ve survived the April 18th deadline! Many of us are taking a breather. But there is still a lot more work to do. Aside from getting your more complex information to your tax pro...
2023-04-24
00 min
TaxMama® – Free Tax Advice Where Taxes Are Fun
TaxMama’s® TaxQuips Your Tax Dollars at Work
https://taxmama.audioacrobat.com/download/taxmama-IRS-Strategic-Plan.mp3 It’s TaxQuips time from TaxMama.com® . Today TaxMama® wants to talk to you about the new IRS Strategic Plan for using the $80 billon budget effectively – based on feedback they have received . Dear Family, Last week the IRS released their 150 page strategic plan on how to use their $80 billion allocation over the next 10 years. The plan has 5 objectives: Dramatically improve services to help taxpayers meet their obligations and receive th...
2023-04-10
00 min
TaxMama® – Free Tax Advice Where Taxes Are Fun
TaxMama’s® TaxQuips Common Errors This Season
https://taxmama.audioacrobat.com/download/taxmama-Common-Errors.mp3 It’s TaxQuips time from TaxMama.com® . Today TaxMama® wants to talk to you about errors people have been making in their tax returns this year. Dear Family, My goodness, it’s already Spring! The first day, here in Southern California is mostly gray, threatening to rain…but not quite making good on the threat beyond a few sprinkles. Tomorrow, expect the deluge. I hope your spring is...
2023-03-21
00 min
TaxMama® – Free Tax Advice Where Taxes Are Fun
TaxMama’s® TaxQuips Ask First Act Later
https://taxmama.audioacrobat.com/download/taxmama-Ask-First-Act-Later.mp3 It’s TaxQuips time from TaxMama.com® . Today TaxMama® wants to suggest that you get advice FIRST before making major financial moves. Dear Family, Let’s start with the big thing this weekend – changing the clocks to Daylight Savings Time. Remember the old adage “Fall back; spring forward.” So that means we set the clocks forward one hour in order to get more daylight at the end of the day. A few US...
2023-03-10
00 min
TaxMama® – Free Tax Advice Where Taxes Are Fun
TaxMama’s® TaxQuips What is the IRS Doing For You Lately?
Listen to the podcast here https://taxmama.audioacrobat.com/download/taxmama-What-IRS-Does4U.mp3 It’s TaxQuips time from TaxMama.com® . Today TaxMama® wants to let you know what kind of support you can expect from the IRS this year – if any. Dear Family, As you understand so well, since COVID19, it’s gotten harder than ever to reach a live person at the IRS. And especially someone who has enough training a...
2023-02-14
00 min
TaxMama® – Free Tax Advice Where Taxes Are Fun
TaxMama’s® TaxQuips Important Considerations for Your 2022 Tax Return
https://taxmama.audioacrobat.com/download/taxmama-Your-2022-Tax-Return.mp3 It’s TaxQuips time from TaxMama.com® . Today TaxMama® wants to alert you to issues that will affect your tax return filing, and perhaps tax planning, during 2023 Dear Family, Where does the time go?! Sorry to be posting so late – but the days just seem to flash by. Are you feeling the same sensation? One reason each day is so full, is there are constant updates that I have to read, o...
2023-02-06
00 min
TaxMama® – Free Tax Advice Where Taxes Are Fun
Everything You Want to Know About the EA Exam 2023-2024
We are starting another EA Exam testing year on May 1, 2023. With all the IRS office closures, unopened mail and with IRS phone lines having super long waits, the skills of an Enrolled Agent are more valuable than EVER! This is a great time to improve your tax and representation skills and become an enrolled agent! Learn all about this IRS exam. Watch this free 2022 video webinar (last year’s version): Everything You Want to Know About the EA Exam – But Were Afraid to Ask...
2023-02-03
00 min
TaxMamas TaxQuips
TaxMamaâs® TaxQuips December 2023 Roundup
It’s TaxQuips time from TaxMama.com® . Today TaxMama® wants to alert you to some major tax news taking place before the year ends. Dear Family, As we come to the end of an incredibly busy year, there is still so much going on. Congress worked through the night to pass a 4,155 page Omnibus Act to get the budget passed. It’s on its way to the President for signature. They are also on their way to pass a S...
2022-12-22
00 min
TaxMamas TaxQuips: Tax Quips
TaxMama’s® TaxQuips December 2023 Roundup
It’s TaxQuips time from TaxMama.com® . Today TaxMama® wants to alert you to some major tax news taking place before the year ends. Dear Family, As we come to the end of an incredibly busy year, there is still so much going on. Congress worked through the night to pass a 4,155 page Omnibus Act to get the budget passed. It’s on its way to the President for signature. They are also on their way to pass a S...
2022-12-22
00 min
Filing Deadline – TaxMama.com
TaxMama’s® TaxQuips The Deadline is Coming! The Deadline is Coming!
(Title – with apologies to the film – The Russians are Coming! The Russians are Coming!) https://taxmama.audioacrobat.com/download/taxmama-Deadline_Coming.mp3 It’s TaxQuips time from TaxMama.com® . Today TaxMama® wants to talk to you about the very last filing deadline for calendar year taxpayers filing 2021 tax returns. Dear Family, The time has come, the Walrus said, to speak of many things. Of needless delays, sad tales and ignoring all the nagging pings. (apologies to Charles Lutwidge Dodgson) The g...
2022-10-12
00 min
TaxMamas TaxQuips: Tax Quips
taxmama-Deadline_Coming
It’s TaxQuips time from TaxMama.com® . Today TaxMama® wants to talk to you about the very last filing deadline for calendar year taxpayers filing 2021 tax returns. Dear Family, The time has come, the Walrus said, to speak of many things. Of needless delays, sad tales and ignoring all the nagging pings. (apologies to Charles Lutwidge Dodgson) The good news is, you have a couple of extra days to finish filing all your 2021 final returns - until Monday, October 17, 2022, instead of October 15th.
2022-10-12
00 min
TaxMamas TaxQuips
taxmama-Deadline_Coming
It’s TaxQuips time from TaxMama.com® . Today TaxMama® wants to talk to you about the very last filing deadline for calendar year taxpayers filing 2021 tax returns. Dear Family, The time has come, the Walrus said, to speak of many things. Of needless delays, sad tales and ignoring all the nagging pings. (apologies to Charles Lutwidge Dodgson) The good news is, you have a couple of extra days to finish filing all your 2021 final returns - until Monday, October 17, 2022, instead of October 15th.
2022-10-12
00 min
TaxMamas TaxQuips
TaxMamaâs® TaxQuips An Upcoming Deadline - AND Is it Really the IRS at my Door?
It’s TaxQuips time from TaxMama.com® . Today TaxMama® wants to talk to you about some imminent deadlines – and about the IRS dropping by your place of business. Dear Family, This year has flown by so quickly. I blinked and now it’s almost autumn. First, the upcoming deadline – September 15th is the final filing deadline for calendar year (December 31st) partnerships and S corporations. Let me be clear. There are no more extensions. So if you haven’t gotten all your informa...
2022-09-09
00 min
TaxMamas TaxQuips
TaxMamaâs® TaxQuips Inflation Bill Highlights and More
It’s TaxQuips time from TaxMama.com® . Today TaxMama® wants talk to give you some basics about the new Inflation Reduction Act. And some observations. Dear Family, By now, you are aware that President Biden has signed the Inflation Reduction Act into law. Although there are 273 pages to this Bill, only a few issues may affect you directly. I will give you more details about this Bill in the next couple of weeks. Meanwhile, here are the highlights: Extending the Premium Tax Credits (buying...
2022-08-18
00 min
TaxMamas TaxQuips: Tax Quips
TaxMama’s® TaxQuips Flaw in the Tax Law - Casualties
It’s TaxQuips time from TaxMama.com® . Today TaxMama® wants talk to you about a big flaw in the current tax laws. Dear Family, It’s summer! Can you believe the year is going by so quickly? The past month has been a whirlwind with teaching, taking classes and even going to a live, in-person CSTC Tax Symposium in Reno. It’s the first time since early 2000 that I have had the opportunity to meet friends, peers, students and TaxMama®...
2022-07-07
00 min
TaxMamas TaxQuips
TaxMamaâs® TaxQuips Flaw in the Tax Law - Casualties
It’s TaxQuips time from TaxMama.com® . Today TaxMama® wants talk to you about a big flaw in the current tax laws. Dear Family, It’s summer! Can you believe the year is going by so quickly? The past month has been a whirlwind with teaching, taking classes and even going to a live, in-person CSTC Tax Symposium in Reno. It’s the first time since early 2000 that I have had the opportunity to meet friends, peers, students and TaxMama®...
2022-07-07
00 min
TaxMamas TaxQuips
TaxMamaâs® TaxQuips IRS Changes and Notes
It’s TaxQuips time from TaxMama.com® . Today TaxMama® wants talk to you about an eclectic set of tidbits about IRS changes and news. Dear Family, Recently, the IRS started releasing updated Frequently Asked Questions (FAQs) about different topics. They didn’t actually add new information or change any procedures. But did add more clarifications (look for the updated date next to the FAQ): The most important information for people still waiting for their 2020 and 2021 tax returns to be processed can be fou...
2022-05-30
00 min
Earned Income Tax Credit – TaxMama.com
TaxMama’s® TaxQuips IRS Changes and Notes
https://taxmama.audioacrobat.com/download/taxmama-IRS-Changes-Notes.mp3 It’s TaxQuips time from TaxMama.com® .Today TaxMama® wants talk to you about an eclectic set of tidbits about IRS changes and news. Dear Family, Recently, the IRS started releasing updated Frequently Asked Questions (FAQs) about different topics. They didn’t actually add new information or change any procedures. But did add more clarifications (look for the updated date next to the FAQ): The most important information for people still waiting for their 2020...
2022-05-30
00 min
TaxMamas TaxQuips
Giving and Receiving
It’s TaxQuips time from TaxMama.com® . Today TaxMama® wants talk to you about an issue raised by Jean Mammen, EA. She says that right around now, there is so much going on, helping refugees, the homeless, and others who have experienced adversity. So, let me give you some quick tips about the tax laws related to gifts. Dear Family, These are the questions raised by Jean Mammen, EA. Here are some basic responses, with links to more details:
2022-05-02
00 min
TaxMamas TaxQuips
TaxMamaâs® TaxQuips Tax Season Issues You Raised
It’s TaxQuips time from TaxMama.com.® Today TaxMama® wants talk to you about some of the common questions you raised in the TaxMama® Tax Forum. more-> Dear Family, Tax Season is always a frustrating time for taxpayers – and tax professionals. These last two seasons were the worst. Aside from confusing law changes that took affect as a result of the COVID19 pandemic; the pandemic also forced IRS staff to abandon workstations and...
2022-04-26
00 min
TaxMamas TaxQuips: Tax Quips
TaxMama’s® TaxQuips 2022 Filing Deadline Tips
Honoring Ramadan, Easter, Passover It’s TaxQuips time from TaxMama.com® Today TaxMama® wants talk to you about changes to this year’s filing season that you may have missed – or forgotten about. Honoring Ramadan, Easter, Passover It’s TaxQuips time from TaxMama.com® Today TaxMama® wants talk to you about changes to this year’s filing season that you may have missed – or forgotten about. Dear Family, We are getting clos...
2022-04-12
00 min
TaxMamas TaxQuips
TaxMamaâs® TaxQuips 2022 Filing Deadline Tips
Honoring Ramadan, Easter, Passover It’s TaxQuips time from TaxMama.com® Today TaxMama® wants talk to you about changes to this year’s filing season that you may have missed – or forgotten about. Honoring Ramadan, Easter, Passover It’s TaxQuips time from TaxMama.com® Today TaxMama® wants talk to you about changes to this year’s filing season that you may have missed – or forgotten about. Dear Family, We are getting clos...
2022-04-12
00 min
TaxMamas TaxQuips: Tax Quips
Premature Filings and Current Payments
It’s TaxQuips time from TaxMama.com® Today TaxMama® wants to talk to you about filing your tax return before you have all the information and to address all the money you’re going to need by April 18th . Dear Family, STOP! PLEASE, PLEASE STOP! TaxMama® is getting more questions than ever before from people who have already filed their tax returns – then learned about missing W-2s, 1099s, investment income and whatever...
2022-03-22
00 min
TaxMamas TaxQuips
Premature Filings and Current Payments
It’s TaxQuips time from TaxMama.com® Today TaxMama® wants to talk to you about filing your tax return before you have all the information and to address all the money you’re going to need by April 18th . Dear Family, STOP! PLEASE, PLEASE STOP! TaxMama® is getting more questions than ever before from people who have already filed their tax returns – then learned about missing W-2s, 1099s, investment income and whatever...
2022-03-22
00 min
TaxMamas TaxQuips
TaxMamaâs® TaxQuips Are You In Business?
It’s TaxQuips time from TaxMama.com® TodayTaxMama® wants to talk to you about all those pesky 1099Ks that you’re receiving this year. Dear Family, We’re getting questions from people who have suddenly started getting 1099Ks from their various casual sales – like Etsy, eBay, PayPal, Zelle, and other bank-like sources where they send or receive money. Why are they getting these 1099Ks this year? The IRS dropped the reporting threshold to payments of $60...
2022-03-01
00 min
TaxMamas TaxQuips: Tax Quips
TaxMama’s® TaxQuips Are You In Business?
It’s TaxQuips time from TaxMama.com® TodayTaxMama® wants to talk to you about all those pesky 1099Ks that you’re receiving this year. Dear Family, We’re getting questions from people who have suddenly started getting 1099Ks from their various casual sales – like Etsy, eBay, PayPal, Zelle, and other bank-like sources where they send or receive money. Why are they getting these 1099Ks this year? The IRS dropped the reporting threshold to payments of $60...
2022-03-01
00 min
TaxMamas TaxQuips
TaxMamaâs® TaxQuips IRS E-File is Open Today The IRS Goes Online!
Courtesy of VectorStock.com It’s TaxQuips time from TaxMama.com® Today TaxMama® wants to address some of your concerns. Dear Family, First of all, let’s start with the news you’ve been waiting to hear. The IRS efiling system is officially open today. more-> So anything you submitted to the tax software companies earlier – or from now on, can get transmitted immediately. No doubt, there will be glitches for a while – but not as many as last year, when Congr...
2022-01-24
00 min
TaxMamas TaxQuips
TaxMamaâs® TaxQuips Things to do in January 2022
It’s TaxQuips time from TaxMama.com® – Today TaxMama® wants talk to you about steps to take this month, and things to watch out for – even if they are annoying. Dear Family, 2022 came rushing upon us so quickly. Did you also feel that it was just January of 2021 – and suddenly, we’re facing another new year? I blinked! Let’s look at the some of the good and bad things that we are facing. 1) The IRS has si...
2022-01-10
00 min
Filing Deadline – TaxMama.com
TaxMama’s® TaxQuips Things to do in January 2022
It’s TaxQuips time from TaxMama.com® – Today TaxMama® wants talk to you about steps to take this month, and things to watch out for – even if they are annoying. Dear Family, 2022 came rushing upon us so quickly. Did you also feel that it was just January of 2021 – and suddenly, we’re facing another new year? I blinked! Let’s look at the some of the good and bad things that we are facing. 1) The IRS has significantly increased their online access for both taxpayers and tax professionals. (See our Good-Bye 2021 issue for deta...
2022-01-10
00 min
TaxMamas TaxQuips
TaxMamaâs® TaxQuips Goodbye 2021
It’s TaxQuips time from TaxMama.com® – Today TaxMama® wants talk to you about some year-end tips and ideas to get ready for next year. Dear Family, This year is coming to a close remarkably fast. It seems it was just January one blink ago – and now, it’s nearly over. This year has been filled with lots of small and major successes for my students, family and friends. T...
2021-12-27
00 min
TaxMamas TaxQuips
Navigating the California Employee vs Independent Contractor Maze
Subtitle: Playing 10 Questions with California’s Employment Development Department about How to Onboard Former Freelancers Since the California Legislature passed Assembly Bill 5 (AB5) in September of 2019, the rules regard who is and who is not an employee in this state have gotten ever more stringent – and confusing. Why confusing? Because there was a very loud roar from several industries whose workers’ statuses were so severely compromised by this Bill. I remember being at the 2019 CSEA State Tax Agency Liaison Meeting (STALM) in Sacramento after the bill was signed...
2021-10-18
00 min
TaxMamas TaxQuips
TaxMamaâs® TaxQuips Ready or Not â Time is Up!
It’s TaxQuips time from TaxMama.com.Today TaxMama® wants talk to you about the final income filing deadline for this year’s tax returns. Dear Family, Every year we get to this point in time. Getting down to the wire. In private social media forums, tax professionals are posting notes and screams of frustration, dealing with clients showing up at the last minute with surprise income, off-handedly mentioning – Oh, I sold that property last year, or mention of an LLC they op...
2021-10-14
00 min
Filing Deadline – TaxMama.com
TaxMama’s® TaxQuips Ready or Not – Time is Up!
Listen to the Podcast: https://taxmama.audioacrobat.com/download/taxmama-Time_is_Up.mp3 Watch the Podcast (on 10/15) It’s TaxQuips time from TaxMama.com. Today TaxMama® wants talk to you about the final income filing deadline for this year’s tax returns. Dear Family, Every year we get to this point in time. Getting down to the wire. In private social media forums, tax professionals are posting notes and screams of fr...
2021-10-14
00 min
The Growth Minded Accountant
Episode 4: You Don't Need to Recreate the Wheel feat. Eva Rosenberg, EA, MBA – TaxMama®
Join us to hear CountingWorks PRO CEO/Founder Lee Reams II and industry influencer Eva Rosenberg, EA, MBA, otherwise known as TaxMama® and dean of www.IRSExams.school, dive into the accountant practice marketing "wheel". They will share their background and experiences, common mistakes made by professionals and how to avoid them, the state of the industry, work-life balance for professionals, and much more.
2021-09-14
55 min
TaxMamas TaxQuips
TaxMamaâs® TaxQuips IRS Unemployment Refunds Alert
It’s TaxQuips time from TaxMama.com®. Today TaxMama® wants talk to you about the unemployment refund checks the IRS has started to send out. Yours may be on the way! Dear Family, In today’s TaxQuip, I want to reach taxpayers who prepare your own tax returns. Please share this with anyone else who is affected. Let’s do a little recap on the current situation: Long after millions of taxpayers filed their tax returns (Amer...
2021-08-31
00 min
Earned Income Tax Credit – TaxMama.com
TaxMama’s® TaxQuips IRS Unemployment Refunds Alert
It’s TaxQuips time from TaxMama.com®. Today TaxMama® wants talk to you about the unemployment refund checks the IRS has started to send out. Yours may be on the way! https://taxmama.com/wp-content/uploads/2021/08/taxmama-UnemploymentRefundAlert.mp3 Dear Family, In today’s TaxQuip, I want to reach taxpayers who prepare your own tax returns. Please share this with anyone else who is affected. Let’s do a little recap on the current situation: Long after millions of taxpayers...
2021-08-31
00 min
Unemployment | TaxMama
TaxMama’s® TaxQuips IRS Unemployment Refunds Alert
It’s TaxQuips time from TaxMama.com®. Today TaxMama® wants talk to you about the unemployment refund checks the IRS has started to send out. Yours may be on the way! https://taxmama.com/wp-content/uploads/2021/08/taxmama-UnemploymentRefundAlert.mp3 Dear Family, In today’s TaxQuip, I want to reach taxpayers who prepare your own tax returns. Please share this with anyone else who is affected. Let’s do a little recap on the current situation: Long after millions of taxpayers...
2021-08-31
00 min
Earned Income Tax Credit – TaxMama.com
TaxMama’s® TaxQuips Where are your Refunds?
https://taxmama.audioacrobat.com/download/taxmama-Where_is_My_Refund_COVID.mp3 It’s TaxQuips time from TaxMama.com®. Today TaxMama® wants talk to you about the biggest question out there – Where is my #$#DE Refund? Dear Family, Are you still waiting for your IRS refund? Has it been 3, 4, 6 months since you filed your tax return, and you’re still singing, “where oh where has my poor refund gone. Where oh where can it be?” Well, the good news is – you’re not alone. ...
2021-08-04
00 min
Education Credit | TaxMama
TaxMama’s® TaxQuips Where are your Refunds?
.. You can listen to the podcast here – or (later today) at TaxMama’s YouTube site It’s TaxQuips time from TaxMama.com®. Today TaxMama® wants talk to you about the biggest question out there – Where is my #$#DE Refund? Dear Family, Are you still waiting [...] The post TaxMama’s® TaxQuips Where are your Refunds? first appeared on TaxMama.
2021-08-04
07 min
TaxMamas TaxQuips
TaxMamaâs® TaxQuips Where are your Refunds?
It’s TaxQuips time from TaxMama.com®.Today TaxMama® wants talk to you about the biggest question out there – Where is my #$#DE Refund? Dear Family, Are you still waiting for your IRS refund? Has it been 3, 4, 6 months since you filed your tax return, and you’re still singing, “where oh where has my poor refund gone. Where oh where can it be?” Well, the good news is – you’re not alone.
2021-08-04
00 min
TaxMamas TaxQuips
TaxMamaâs® TaxQuips IRS Improvements Summer of 2021
Listen to the podcast hereOr watch it on YouTube tomorrow It’s TaxQuips time from TaxMama.com® – today TaxMama® wants to tell you about resources that are opening up for you on the IRS website. Dear Family, The IRS was busy last week, issuing announcements people have been waiting for about the advance payment of the Child Tax Credit this summer. The IRS will pay half the total credit amount in advance monthly payments. You will claim the other half when you file y...
2021-06-21
00 min
Filing Deadline – TaxMama.com
TaxMama’s® TaxQuips Updates and Due Dates
https://taxmama.audioacrobat.com/download/taxmama-Updates_Due_Dates.mp3 It’s TaxQuips time from TaxMama.com® – Today TaxMama® wants to remind you about tomorrow’s due date – June 15th. Dear Family, With two topsy turvy tax years due to COVID19, it’s harder to keep track of deadlines. But, for the rest of this year, all deadlines are the same as they have been historically, unless you live in a federally declared disaster area. https://www.irs.gov/newsroom/tax-relief-presidentially-declared-disaster-areas So, let’s review what’s d...
2021-06-14
00 min
TaxMamas TaxQuips
TaxMamaâs® TaxQuips Updates and Due Dates
It’s TaxQuips time from TaxMama.com® – Today TaxMama® wants to remind you about tomorrow’s due date – June 15th. Dear Family, With two topsy turvy tax years due to COVID19, it’s harder to keep track of deadlines. But, for the rest of this year, all deadlines are the same as they have been historically, unless you live in a federally declared disaster area. https://www...
2021-06-14
00 min
Unemployment | TaxMama
TaxMama’s® TaxQuips June is Busting out all Over
https://taxmama.audioacrobat.com/download/taxmama-June_Busting_Out.mp3 It’s TaxQuips time from TaxMama.com® – today TaxMama® wants to give you some strategies or recommendations about how to deal with the retroactive changes from the American Rescue Act. Dear Family, When Congress passed the American Rescue Act, they included some tax provisions that affected tax returns that had already been filed by millions of people. At the time, there was a great deal of confusion on what to do for those who had already filed; and how to h...
2021-06-03
00 min
TaxMamas TaxQuips
TaxMamaâs® TaxQuips June is Busting out all Over
To listen to the podcast – click here It’s TaxQuips time from TaxMama.com® – today TaxMama® wants to give you some strategies or recommendations about how to deal with the retroactive changes from the American Rescue Act. more-> Dear Family, When Congress passed the American Rescue Act, they included some tax provisions that affected tax returns that had already been filed by millions of...
2021-06-03
00 min
Filing Deadline – TaxMama.com
TaxMama’s® TaxQuips To Extend or Not – and When?
It’s TaxQuips time from TaxMama.com® – today TaxMama® wants to talk to you about the upcoming April 15th deadline – sort of… https://taxmama.audioacrobat.com/download/taxmama-To_Extend_or_Not.mp3 Dear Family, Well, we are one week away from the traditional filing deadline of April 15th. Do we still care? After all, the IRS moved the filing deadline to May 17th – so can we totally ignore April 15th ? Not really. Some things are still due on April 15th: 2021 fir...
2021-04-07
00 min
Non-Filer | TaxMama
TaxMama’s® TaxQuips To Extend or Not – and When?
It’s TaxQuips time from TaxMama.com® – today TaxMama® wants to talk to you about the upcoming April 15th deadline – sort of… Dear Family, Well, we are one week away from the traditional filing deadline of April 15th. Do we still care? After all, the IRS moved the filing deadline [...]
2021-04-07
00 min
Unemployment | TaxMama
TaxMama’s® TaxQuips Take Pressure Off your Tax Pro
https://taxmama.audioacrobat.com/download/taxmama_Pressure_Off_TaxPro.mp3 It’s TaxQuips time from TaxMama.com®. Today TaxMama® wants to talk to you about the nervous breakdown your tax professional is about to have. And why. Dear Family, I am extremely alarmed by what I am reading and seeing from the tax professional community – at all levels. From the basic unlicensed tax preparer to Enrolled Agents, to Certified Public Accountants. People are stressed, overwhelmed, anxious and ready to jump down th...
2021-03-31
00 min
Non-Filer | TaxMama
TaxMama’s® TaxQuips Take Pressure Off your Tax Pro
It’s TaxQuips time from TaxMama.com®. Today TaxMama® wants to talk to you about the nervous breakdown your tax professional is about to have. And why. Dear Family, I am extremely alarmed by what I am reading and seeing from the tax professional community – at all levels. From the [...]
2021-03-31
00 min
Unemployment | TaxMama
TaxMama’s TaxQuips March Tax News and Tips
It’s TaxQuips time from TaxMama.com® – today TaxMama® wants to talk to you about the sticker shock (high tax return balances) you just faced – and how to reduce some of that financial pain. Dear Family, There’s a lot going on right now, and new legislation about to be passed tomorrow. Drop by TaxMama.com tomorrow for a quick summary of the final changes. Meanwhile, you thought you did everything right last year, but when you prepared your tax returns, you s...
2021-03-08
00 min
Retirement Accounts | TaxMama
TaxMama’s TaxQuips March Tax News and Tips
It’s TaxQuips time from TaxMama.com® – today TaxMama® wants to talk to you about the sticker shock (high tax return balances) you just faced – and how to reduce some of that financial pain. Dear Family, There’s a lot going on right now, and new legislation about to be passed tomorrow. [...]
2021-03-08
00 min
Filing Deadline – TaxMama.com
TaxMama’s TaxQuips Filing Deadline Approaches
Today TaxMama® wants to provide some tips before the upcoming July 15th filing deadline. Dear Family, I hope you’re able to enjoy (what we used to call) a “safe and sane” 4th of July holiday. When arriving in Los Angeles many decades ago, we used to have colorful booths all over town, selling fireworks, using that slogan. With high levels of fire danger around here, those booths are gone, and fireworks are not welcome in Los Angeles a...
2020-07-03
00 min
Filing Deadline – TaxMama.com
TaxMama’s TaxQuips Filing Deadlines Coming Up
Today TaxMama® wants to talk to you about the upcoming deadline on Monday. Yes, we do have an extra day, because the 15th is on a weekend. Dear Family, Coming up on Monday, here is what’s due: Form 1065 – Partnership tax returns and K-1s (for partnerships and LLCs filing as partnerships) Form 1120S – S Corporation returns and K-1s (for S corps and LLCs filing as S Corps) OR to file extensions for the Form 1065 and 1120S – use Form 7004. Th...
2020-03-13
00 min
CPA Review & More
Interview with Eva Rosenberg, The TaxMama - Episode 004
In this episode, Eva Rosenberg, the TaxMama® stops in and talks a little about her book “The Trump Tax Cut," the Enrolled Agent (EA) Exam and her Enrolled Agent IRS Exam Review Course. Eva is nationally known for her expertise in the area of taxation. About Eva Rosenberg http://taxmama.com/about/ Find her book at http://thetrumptaxplanbook.com IRS Exams Enrolled Agent Exam Review https://irsexams.school/ Yaeger CPA Review http://yaegercpareview.comContact us podcast@yaegercpareview.com
2019-02-26
47 min
Employee Benefits | TaxMama
The IRS is Pumping Out Information
This month, the IRS is catching up on procedures, alerts and announcements. We are getting several announcements each day. TaxMama summarizes it for you. The post The IRS is Pumping Out Information first appeared on TaxMama.
2018-12-17
03 min
W-4 | TaxMama
Last Minute Tax Tips for 2018
Today TaxMama®wants to give you some steps to take before the end of 2018. Dear Family, This year, it’s especially difficult to figure out how to reduce your taxes. The average couple is not likely to be itemizing any more. Folks with high employee business expenses won’t be able to use them. Individuals with mortgages [...] The post Last Minute Tax Tips for 2018 first appeared on TaxMama.
2018-12-11
03 min
Capital Gains Tax | TaxMama
Last Minute Tax Tips for 2018
Today TaxMama®wants to give you some steps to take before the end of 2018. Dear Family, This year, it’s especially difficult to figure out how to reduce your taxes. The average couple is not likely to be itemizing any more. Folks with high employee business expenses won’t be able to use them. Individuals with mortgages [...] The post Last Minute Tax Tips for 2018 first appeared on TaxMama.
2018-12-11
03 min
Offer in Compromise (OIC) | TaxMama
Are you Losing Your Passport?
Today TaxMama® wants to help you avoid losing your passport, if you owe the IRS too much money. You need to act quickly. Dear Family, You’ve been hearing a lot in the past couple of years that the IRS will start revoking passports of Americans who owe taxes. Well, the process is now in [...] The post Are you Losing Your Passport? first appeared on TaxMama.
2018-11-20
03 min
Earned Income Tax Credit – TaxMama.com
TaxMama’s TaxQuips Filing the IRS Postcard 2018
Today TaxMama® wants to update you on the Postcard Tax Form . Dear Friends and Family, You’ve been hearing a lot of talk about the IRS’ new “postcard” tax return, designed for you to use in 2019. You can pick up copies of the form(s) here. Let me clear up a few myths for you – and give you the nitty-gritty about how this will affect you. It’s not a postcard – so don’t worry about your personal information being exposed to the mail...
2018-07-09
00 min
Itemized Deductions | TaxMama
TaxMama’s TaxQuips Filing the IRS Postcard 2018
Today TaxMama® wants to update you on the Postcard Tax Form . Dear Friends and Family, You’ve been hearing a lot of talk about the IRS’ new “postcard” tax return, designed for you to use in 2019. You can pick up copies of the form(s) here. Let me clear up a few [...] The post TaxMama’s TaxQuips Filing the IRS Postcard 2018 first appeared on TaxMama.
2018-07-09
05 min
Education Credit | TaxMama
TaxMama’s TaxQuips Filing the IRS Postcard 2018
Today TaxMama® wants to update you on the Postcard Tax Form . Dear Friends and Family, You’ve been hearing a lot of talk about the IRS’ new “postcard” tax return, designed for you to use in 2019. You can pick up copies of the form(s) here. Let me clear up a few [...] The post TaxMama’s TaxQuips Filing the IRS Postcard 2018 first appeared on TaxMama.
2018-07-09
05 min
W-4 | TaxMama
Good News and Bad News in May
Today TaxMama® wants to talk about things to consider now that your tax return is filed. It IS filed, isn’t it? Dear Friends and Family, I have good news and bad news for employees with job-related expenses. The good news is Senator Casey introduced the “Tax Fairness for Workers Act” which returns [...] The post Good News and Bad News in May first appeared on TaxMama.
2018-05-03
05 min
Employee Benefits | TaxMama
Switching from Employee Status to Independent Contractor
Today TaxMama® wants to give you something to think about before switching from employee status to independent contractor. Dear Friends and Family, As far as individual taxpayers, the biggest losers under the Tax Cuts and Jobs Act are employees who have unreimbursed out-of-pocket expenses. You won’t be able to deduct them [...] The post Switching from Employee Status to Independent Contractor first appeared on TaxMama.
2018-02-13
03 min
Capital Gains Tax | TaxMama
TaxMama’s TaxQuips Highlights of Trump Tax Plan
Today TaxMama® wants to give you an advance peek on what you can expect from a Donald Trump tax plan, coming to a Congress near you! Dear Friends and Family, Today we face a total paradigm shift in our government. Donald Trump is the President-Elect of the United States of America. So, with that [...] The post TaxMama’s TaxQuips Highlights of Trump Tax Plan first appeared on TaxMama.
2016-11-09
03 min
Itemized Deductions | TaxMama
TaxMama’s TaxQuips Highlights of Trump Tax Plan
Today TaxMama® wants to give you an advance peek on what you can expect from a Donald Trump tax plan, coming to a Congress near you! Dear Friends and Family, Today we face a total paradigm shift in our government. Donald Trump is the President-Elect of the United States of America. So, with that [...] The post TaxMama’s TaxQuips Highlights of Trump Tax Plan first appeared on TaxMama.
2016-11-09
03 min
Death | TaxMama
TaxMama’s TaxQuips Highlights of Trump Tax Plan
Today TaxMama® wants to give you an advance peek on what you can expect from a Donald Trump tax plan, coming to a Congress near you! Dear Friends and Family, Today we face a total paradigm shift in our government. Donald Trump is the President-Elect of the United States of America. So, with that [...]The post TaxMama’s TaxQuips Highlights of Trump Tax Plan first appeared on TaxMama.
2016-11-09
00 min
Exemptions | TaxMama
TaxMama’s TaxQuips Highlights of Trump Tax Plan
Today TaxMama® wants to give you an advance peek on what you can expect from a Donald Trump tax plan, coming to a Congress near you! Dear Friends and Family, Today we face a total paradigm shift in our government. Donald Trump is the President-Elect of the United States of America. So, with that [...]
2016-11-09
00 min
Capital Gains Tax | TaxMama
Divorce Home Sale
Today TaxMama® hears from Greg in the TaxQuips Forum with a very common divorce issue. Let me paraphrase. “We got divorced. My wife and child stayed in our home. I made the payments. Now, when we want to sell it 7 years later, is there any way at all that I can get the personal [...] The post Divorce Home Sale first appeared on TaxMama.
2016-05-24
01 min
Auto Expenses | TaxMama
2016 Mileage
TaxMama® and Ken Jeffries interview: LISTEN TO PODCAST: [s3audio url=”http://taxmama.audioacrobat.com/download/TaxMama_1-2016_Mileage.mp3″ /] Ken: It’s TaxQuips Time from TaxMama.com . Today TaxMama covers deductible mileage. What kinds of mileage are deductible by individuals and businesses? TaxMama: Actually, there are four ways to take advantage of vehicle-related deductions: Medical mileage Moving Mileage Job or business mileage Charitable mileage [...] The post 2016 Mileage first appeared on TaxMama.
2016-03-21
00 min
Capital Gains Tax | TaxMama
Asking After the Fact
Today TaxMama® hears from several people in the TaxQuips Forum, with questions asked too late. Here are some questions that should have been asked before you entered into your financial transactions – not when you file your tax returns. Dear Friends, It boggles the mind to have questions come to us when it’s too [...] The post Asking After the Fact first appeared on TaxMama.
2015-02-09
02 min
W-4 | TaxMama
W-4 Time
Today TaxMama® hears from Bingo1 in the TaxQuips Forum, with this disturbing question. “On the w4 form I believe the amount for line 5 is 2 because my husband is the only one working and I don’t work. I have two kids. Is that correct? My CPA told me I should use 1 on line [...] The post W-4 Time first appeared on TaxMama.
2015-02-02
01 min
Capital Gains Tax | TaxMama
Capital Gain Bracket
Today TaxMama® hears from Hammed in the TaxQuips Forum, with this interesting question. “What is the income limit for married filing jointly to pay ZERO capital gains tax in 2014? Does the income include the social security benefits?” Hi Hameed, Let give you a link to the IRS tax rates for 2014. In order to [...] The post Capital Gain Bracket first appeared on TaxMama.
2014-05-19
01 min
Unemployment | TaxMama
IRAs and Unemployment
Today TaxMama® hears from Stevenson in the TaxQuips Forum, with this question. “If you are unemployed, can the penalty to withdraw money from your IRA be waived when filing taxes? However, the taxes will still need to be paid since I am not 59 1/2. Is this correct? What form or forms would I file if I worked 6 months last year and was not working the other 6 months of last year?buy flagyl online https://apwh.org/wp-content/languages/new/flagyl.html no prescription Dear Stevenson, Unfortunately, you don’t have a blank...
2014-03-10
00 min
Form W-2 | TaxMama
TaxMama s TaxQuips Ex Wife Got W-2
Today TaxMama® hears from p0pp0p in the TaxQuips Forum, with this question. “I worked with my wife at a small company in NJ. I left the company in June of last year. I also have separated from my wife. My ex-employer gave my W-2 to my wife. Is this legal? How do I get another [...] The post TaxMama s TaxQuips Ex Wife Got W-2 first appeared on TaxMama.
2014-02-03
01 min
Capital Gains Tax | TaxMama
Cannot Prove Residence
Today TaxMama® hears from Johnathan in the TaxQuips Forum, with a good question. Let me summarize. “Although I have lived in my home for more than two years, I don’t have proof of that. My voter registration, driver’s license and banking all show a friend’s address. What kind of penalties will I face if the [...] The post Cannot Prove Residence first appeared on TaxMama.
2014-01-06
02 min
Capital Gains Tax | TaxMama
Short Sale
Today TaxMama® hears from YbSick in the TaxQuips Forum, with a common question. “In a short sale where they abandoned the property and they receive a cancellation of debt, is it non-taxable since it was on their personal residence? Is there a time limit on how long after they move out of the property it [...] The post Short Sale first appeared on TaxMama.
2013-06-05
01 min
Earned Income Tax Credit – TaxMama.com
Benefit of Filing Separately?
Today TaxMama® hears from AK in the TaxQuips Forum, who is trying to understand. “My wife and I have 1 child who is 3 years old. We recently received our W2’s and I started the process through Turbotax online. With just my income, it looked like we were going to receive the Earned Income Credit (EIC). Once I entered my wife’s W2, the EIC dropped quite a bit. I started digging through the deductions and credits, and discovered that we are about a $1000 over the qualifying income to receive the EIC with 1 child. However, if either my wife, or I claim...
2013-01-24
00 min
Employee Benefits | TaxMama
Health Insurance Zinger
Today TaxMama® hears from Larry in the TaxQuips Forum with a quick question. “If an employee pays for his family’s health insurance through payroll withholding, is the amount he pays free from taxes? My clients paid $6,000 in 2012 through payroll withholding and his W-2 gross income in block 1 (and blocks 3 & 5) [...] The post Health Insurance Zinger first appeared on TaxMama.
2013-01-16
01 min
Employee Benefits | TaxMama
Husband’s Health Insurance
Today TaxMama® hears from Debra in the TaxQuips Forum with this common issue. “I work part-time as a bookkeeper for various clients after my full-time job. I report this income on Schedule C. My husband is retired and pays for his own individual medical plan, himself. We file as married jointly. Do his insurance premiums [...] The post Husband’s Health Insurance first appeared on TaxMama.
2012-08-09
02 min
Earned Income Tax Credit – TaxMama.com
Wife Filed Alone
Today TaxMama® hears from Francis in the TaxQuips Forum with this problem. “For some reason that only she understands, my wife decided to filed separately, as head of household (she is working and I am not as I lost my job for health troubles). I filed as married filing separately with no income to declare. I have decided to go back to college a year ago and I qualify for student grants/loans. The financial department is unable to process financial aid, as our IRS returns are not “compatible”, according to the college people. Is there a simple solution to reso...
2012-08-08
00 min
Employee Benefits | TaxMama
Staff Wants Health Benefits
Today TaxMama® hears from Ann in the TaxQuips Forum, who has a very enthusiastic staff. To make a long story short: “Ann just converted her 25-year business to an S Corp. Her staff did the research and found a terrific health insurance policy. They want Ann to set up a flexible spending account so they [...] The post Staff Wants Health Benefits first appeared on TaxMama.
2012-07-18
03 min
Earned Income Tax Credit – TaxMama.com
EIC Credit and Nonresidents
[Note: This answer is totally incorrect. See the comments below the answer.] Today TaxMama® hears from Reginald in the TaxQuips Forum who has this question. “Is the Earned Income Credit available to a US citizen couple, married filing a joint return, who live out of the country? They do have qualifying children. The only reference I can find refers to Non-Resident Aliens, these folks are Non-Resident Citizens.” Hi Reginald, Yes, if they are US citizens, they are certainly eligible for the EIC, regardless of where they live. Unde...
2012-06-18
00 min
Offer in Compromise (OIC) | TaxMama
OIC – Slashing Tax
Today TaxMama® hears from Sallie in the TaxQuips Forum who is puzzled. “I am trying to prepare an offer in compromise. When I go through the computations in the updated Form 656 package, the offer amount equals more than the tax they owe! I’m missing something. Please help.” Hi Sallie, What you’re saying is, that [...] The post OIC – Slashing Tax first appeared on TaxMama.
2012-05-29
01 min
W-4 | TaxMama
Computing Your Own Withholding
Today TaxMama® hears from Brian in the TaxQuips Forum who finally asked the right question. “What I really was asking was, if I take my withholdings up to, say, single and 8 on federal and state for this check only would I get more of the check?” To answer your new question, I don’t know [...] The post Computing Your Own Withholding first appeared on TaxMama.
2012-03-07
03 min
Offer in Compromise (OIC) | TaxMama
Overcome Closed or Signed-Off Audits
Today TaxMama® hears from someone in the TaxQuips Forum who was overwhelmed. Let summarize. “After a grueling audit, and a lot of personal tragedies, the IRS agent went back and reviewed the medical mileage. Despite having detailed evidence to prove the mileage, the reason it was medical mileage, and the reason the treatment needed to [...] The post Overcome Closed or Signed-Off Audits first appeared on TaxMama.
2012-02-28
02 min
Earned Income Tax Credit – TaxMama.com
Stepchild in Divorce
Today TaxMama® hears from Susan in the TaxQuips Forum with a divorce question for Valentine’s Day. “What happens, taxwise, to the relationship of stepchildren when the parents divorce and the stepchild stays with the stepparent? Do they go back to just being the girlfriend’s kid again? I hear about stepparents adopting their spouse’s children. Is that necessary to maintain the relationship test after divorce?” Hi Susan, Relationships that are created in marriage stay intact, even after a divorce. There is a question on the EIC page: What i...
2012-02-14
00 min
W-4 | TaxMama
Disability Wages
Today TaxMama hears from Leslie in the TaxQuips Forum who makes an excellent point. “When a Member of the Screen Actors Guild becomes disabled, in order to receive their Pension, they must sign paperwork. One of the acknowledgments is that “You have been made aware that FICA should not be taken out of your residuals [...] The post Disability Wages first appeared on TaxMama.
2011-11-22
02 min
Employee Benefits | TaxMama
Hiring Your Children
Today TaxMama hears from Ann in the Tax Quips Forum, with a reasonable question. “A woman pays her 13 & 15 year-old children to do office copying, collating, help distribute flyers, and help put on story plays for their author parent. If she were to hire an outside service, she would pay considerably more money [...] The post Hiring Your Children first appeared on TaxMama.
2011-10-19
01 min
Employee Benefits | TaxMama
Employee Stock Purchase Plan
Today TaxMama hears from Rick in the Tax Quips Forum with set of questions. “I have a tax question about my company stock purchase plan. I elected to contribute ($5,000) to the plan last year and it runs from Oct 1, 2010 till Oct 1, 2011. The benefit of the plan is that I receive [...] The post Employee Stock Purchase Plan first appeared on TaxMama.
2011-10-03
03 min
Offer in Compromise (OIC) | TaxMama
Fiance’s Financial Fiasco
Today TaxMama hears from Sandra in the Tax Quips Forum with a quick question. “My soon-to-be spouse has a mountain of back tax debt. Can this affect me in any way or my property? I live in Missouri. He also has terrible credit.” Dear Sandra, You bet it can! Keep your finances totally [...] The post Fiance’s Financial Fiasco first appeared on TaxMama.
2011-09-21
02 min
W-4 | TaxMama
Putting Life on Hold
Today TaxMama hears from Kris in the TaxQuips Forum, with a long story. Let me summarize. Her boyfriend is behind on filing personal and payroll tax returns. He tried to get help from an accountant who may have overcharged him, and did not complete the work because he couldn’t pay the bill. They want [...] The post Putting Life on Hold first appeared on TaxMama.
2011-09-13
02 min
Offer in Compromise (OIC) | TaxMama
Did Not File 2006
Today TaxMama hears from Wyetta in the TaxQuips Forum with this problem. “I tried to make a payment arrangement with the IRS for 2010 taxes owed. The IRS told me that I have to file for 2006, before they could offer a payment arrangement. Please instruct me on how to handle this situation – how [...] The post Did Not File 2006 first appeared on TaxMama.
2011-07-12
01 min
Offer in Compromise (OIC) | TaxMama
Trustworthy Tax Negotiator
Today TaxMama hears from Judy in the TaxQuips Forum who needs help. “I am struggling to maintain my household, have four years of back taxes to file and settle and my home was just foreclosed on. I was contacted by someone claiming that they can help negotiate a reduction in tax liability and stop any [...] The post Trustworthy Tax Negotiator first appeared on TaxMama.
2011-06-28
04 min
Employee Benefits | TaxMama
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, and the visit usually is completed that [...] The post Double Reimbursement first appeared on TaxMama.
2011-05-25
03 min
W-4 | TaxMama
Untaxed Internship
Today TaxMama hears from Karol in the TaxQuips Forum, with an odd question. “I have a paid internship in the Rhode Island state vocational rehabilitation agency and they pay me $11 an hour (I work the most 35 hrs/wk) without taking out taxes. I am worried about what I will owe when I do my taxes later [...] The post Untaxed Internship first appeared on TaxMama.
2010-08-11
02 min
Unemployment | TaxMama
Unemployed and Moved
Today TaxMama hears from Ron who is about to be laid off. He tells us, “I was notified on February 26, 2010 that I was being laid off as of August 2010. I sold my home on May 25th, knowing I wouldn’t be able to afford the mortgage after my layoff. I only lived in the home for 12 months. Will I have to pay capital gains tax or will the layoff exclude me?http://pmilv.com/wp-content/languages/new/amoxicillin.html I only made about $20,000 on the sale of the home, after deducting the basis from the sale price.”
2010-06-30
00 min
Unemployment | TaxMama
Less Income, Yet Taxes are Due
Today TaxMama hears from Felicia who is upset. “My mother and I bought a home two years ago; but both of us lost our jobs and are on unemployment. For some reason, when she was doing her taxes with her tax lady, my mother ended up owing almost $1,000.00. Why would that happen if she has been unemployed and makes substantially less money, is in the middle of a loan modification and is nearly bankrupt? She is making way less money than last year!” Dear Felicia, I know it’s a shock. And it...
2010-06-21
00 min
Unemployment | TaxMama
Fostering Unemployment
Today TaxMama hears from Lisa in Virginia. She tells us, “I have spent the last 4 years as 1099 contracted foster care provider. The contract was a signed contract renewed every six months; the current contract expires 6-30-10. Our live-in individual (client) moves out 5-2-10. His parents are moving him to an adult group home. I am effectively unemployed as there are no replacement clients in the pipeline. This was a non-taxed job under Federal Code Section 131. But prior to this position I have always been employed and paid taxes (i.e. six years as a mortgage broker prior to...
2010-05-10
00 min