Owner: Taxgirl URL:www.taxgirl.com Join Date: Sat, 24 Mar 2007 09:29:06 -0500 Rating:0 Site Description: tax news, tax policy, tax answers wrapped up in bloggity goodness. Site statistics:Click here
Ask the Taxgirl: Health Insurance Premiums 2008-03-22 14:45:09 Taxpayer asks:
Last year, I lost my job. I haven’t found a full time job yet so I have been paying for my health insurance out of pocket by COBRA.
Is this deductible on my taxes? A friend told me that it was but I thought only visits to the doctor and prescriptions were.
Thanks for [...] Read more:Health
, Health Insurance
What? Tax Changes Benefit the Wealthy? 2008-03-25 08:40:40 Over the past ten years, the tax burden on wages has eased in most of the world’s industrial countries, according to the Organization for Economic Co-operation and Development (OECD). Those changes have benefited the lower and middle class, for the most part.
Only, there some exceptions. The OECD pointed fingers at a small group [...] Read more:Wealthy
Could You Use $1.2 Billion? 2008-03-24 16:36:39 The IRS has announced that there are unclaimed refunds totaling approximately $1.2 billion for folks who failed to file a federal income tax return for 2004. However, due to the statute of limitations, in order to collect the money, 2004 federal income tax returns must be filed no later than April 15, 2008.
Why would [...]
Ask the taxgirl: 1099s, 1040s and Rebate Checks 2008-03-24 16:31:02 Taxpayer asks:
I have 3 kids and this is my first year filing a 1099. Am I able to claim dependents on a 1099 misc and get a refund?
Taxgirl says:
There is a distinction between a form 1099 and a form 1040.
There are several different types of forms 1099 - you can read about many different [...] Read more:Rebate
Ask the taxgirl: Navigating the forms 1040 2008-03-24 13:33:58 Taxpayer asks:
Hello Kelly,
I have a tax question for you:
-I am a normal employee and will be filing a 1040ez for that.
-I also do freelance work on the side, have received 1099-MISCs for that work from clients, and will be filing a 1040 schedule C for that.
Do I simply file the two forms together?
Or is there [...]
Contemplating a Move in 2008? 2008-03-24 07:54:50 If you’re contemplating a move in 2008 (despite the crazy housing market), consider these spots. These towns are where Money magazine says the best places to live in 2007 are:
1 Middleton, WI
2 Hanover, NH
3 Louisville, CO
4 Lake Mary, FL
5 Claremont, CA
6 Papillion, NE
7 Milton, MA
8 Chaska, MN
9 Nether Providence (Wallingford), PA
10 Suwanee, GA [...]
Argentine Farm Tax Crisis Worsens 2008-03-27 16:46:56 picApp_publisherId = 447;picApp_imageId = 9626;picApp_imageWidth = 357;picApp_imageHeight = 267;picApp_configUrl = "";picApp_Picview="";picapp_numberOfLine=1;ImageServe();
I went to the supermarket on yesterday to pick up some milk, strawberry cream cheese (my daughter’s current favorite) and orange juice. I left with more than $100 in groceries. Among the culprits that jacked up my prices? Yogurt - now more [...] Read more:Crisis
Ask the taxgirl: Liabilities and Rebates 2008-03-26 12:42:20 Taxpayer asks:
If you owe the unemployment office 1500.00 of being over charged benefits do I still qualify for the check or do they keep my money?
Taxgirl says:
Unemployment is a state obligation unrelated to income tax. It is my understanding that your check can be reduced for federal or state income taxes or non-tax federal [...] Read more:Rebates
Obama Releases Tax Returns, Challenges Clinton To Do the Same 2008-03-26 08:25:10 Democratic presidential candidate Barack Obama
has released seven years of his tax individual returns this week.
The Obama family reported income of $1.65 million in 2005 and nearly $1 million in 2006. During that same period, the family made $137,622 in charitable donations.
Prior to 2005, the family seems to have a different financial picture. [...] Read more:Returns
, Clinton
Why Didn’t IRS Just Buy Super Bowl Commercials? 2008-03-30 08:34:39 As it turns out, the economic stimulus plan is costing us even more money than the $100 billion being mailed out “for free” to Americans.
At least $200 million more.
Here’s the scoop:
The letter that was mailed to you that advises that you might be eligible for a refund cost the IRS $42 million. That $42 [...] Read more:Super
, Commercials
, Bowl Commercials
IRS is hip to your jive talk: Yep, they’ve gone YouTube 2008-03-29 22:21:31 Apparently, the IRS is trying to relate to the current generation. No, they’re not texting you - yet. But they are on YouTube
. Here, Linda Stiff (acting IRS Commish - no jokes about her name) talks about rebate checks - apparently Alan Thicke was unavailable:
(Hat Tip: TaxProf blog)
Tags: economic stimulus, IRS, rebate [...]
Being Right Isn’t the Same as Not Getting Audited 2008-03-28 14:19:22 Lots of people like being right. But in the tax world, just like in other situations, being right isn’t always enough.
A good friend recently asked me to review his tax return before he submitted it to the IRS. I did and I noticed something that I didn’t love - a huge refund (and [...] Read more:Right
, Audited
“When I Grow Up, I Want to Be a Tax Attorney!” 2008-04-01 23:03:39 Okay, so I didn’t really say that when I was a kid. But I did come close. I did know that I wanted to be a lawyer and I wanted to work in international matters. And it was clearly fated. My great-grandmother, who lived in Greenville, SC told everyone that I [...] Read more:Attorney
Ask the taxgirl: Rebate Order 2008-04-01 21:27:24 Taxpayer asks:
In may the refunds will be going out according to the last two digits of the SS#. If you filed jointly who SS# do they go by and by direct deposit do they mean your weekly paycheck or your income tax rebate? Thanks for your time.
Taxgirl says:
The rebates will be processed according [...] Read more:Rebate
, Order
IRS Considers Tax Exempt Status for Bloggers 2008-04-01 07:03:07 picApp_publisherId = 447;picApp_imageId = 11102;picApp_imageWidth = 357;picApp_imageHeight = 235;picApp_configUrl = "";picApp_Picview="";picapp_numberOfLine=2;ImageServe();
In a surprising move, the IRS has announced that it is considering exempting bloggers from paying income tax on money earned from blogging.
In its proposed regulations on the matter, the IRS pointed out that bloggers provide a valuable public service by making information available to [...] Read more:Exempt
, Status
Tax Rebate Super Bowl Commercial Contest 2008-03-31 13:59:33 picApp_publisherId = 447;picApp_imageId = 10835;picApp_imageWidth = 357;picApp_imageHeight = 250;picApp_configUrl = "";picApp_Picview="";picapp_numberOfLine=2;ImageServe();
In consideration of the news that it’s costing us as much to promote and process the rebate checks as the combined Super
Bowl advertising budget for the Patriots-Giants game, I’m launching a contest!
Your challenge is to promote the economic stimulus plan via print, podcast or [...] Read more:Rebate
, Commercial
, Contest
, Super Bowl
Is Education Important? 2008-03-31 12:55:13 As talk of recession increases, I’m hearing more and more folks question the merits of higher education. I have to say, I completely understand where they are coming from…
While it’s true that many jobs require a college education - or beyond (like law) - increasingly, you can find a decent job without a college [...] Read more:Education
Crikey! Croc Hunter’s Zoo Involved in Tax Scandal 2008-04-04 09:33:17 picApp_publisherId = 447;picApp_imageId = 12056;picApp_imageWidth = 357;picApp_imageHeight = 469;picApp_configUrl = "";picApp_Picview="";picapp_numberOfLine=2;ImageServe();
Crikey! The Australia Zoo
, which was founded in the 1970s by Crocodile Hunter
Steve Irwin’s parents, has acknowledged that it was the victim “a highly sophisticated case of deception.” The zoo is currently being investigation as part of a massive tax-evasion scandal.
The zoo [...] Read more:Involved
, Scandal
T-12 and Counting: Are You Done Yet? 2008-04-03 22:08:00 Tax day is almost upon us. And if you’re like me (and yes, I’ll admit it), your taxes aren’t done yet. And quite possibly, not even started.
Have no fear. taxgirl is here to help you out - with a little help from friends at www.digits.hrblock.com.
I’ve got 40 copies of TaxCut software to [...] Read more:Counting
Pizza Hut Mogul Fails to Deliver 2008-04-03 21:07:58 picApp_publisherId = 447;picApp_imageId = 11945;picApp_imageWidth = 357;picApp_imageHeight = 237;picApp_configUrl = "";picApp_Picview="";picapp_numberOfLine=1;ImageServe();
La-Van Hawkins, who built a fortune with Burger King, Pizza
Hut and Checkers Drive-In franchises across the country, has another legal battle brewing.
Hawkins grew up in Chicago’s Cabrini-Green housing project where he was an admitted gang member and cocaine addict. He began working at [...] Read more:Mogul
Strippers Everywhere Breathe a Sigh of Relief: Texas Pole Tax is No More 2008-04-02 13:33:26 picApp_publisherId = 447;picApp_imageId = 11523;picApp_imageWidth = 357;picApp_imageHeight = 239;picApp_configUrl = "";picApp_Picview="";picapp_numberOfLine=2;ImageServe();
On March 28, a Texas
court ruled that the government may not impose a $5/customer “pole tax” at strip clubs. The proceeds of the tax were to benefit victims of sexual assault and those who were uninsured in Texas (quite a combination, no?).
In Texas [...] Read more:Strippers
Ask the taxgirl: Timing of payments 2008-04-06 19:51:50 Taxpayer asks:
Hi Kelly!
I’m so glad to have found your site - what a great service for all of us! My question is in regards to the 1099-MISC form. I am a small business owner and received a 1099 form for a December 2007 sale however the company did not pay until January 2008. [...] Read more:Timing
There’s Still Free Tax Software Left! 2008-04-05 04:29:09 As of today, I’ve given away about 15% of the free software available - and you don’t have to pay shipping! If you are interested in scoring some free software, just leave a comment here and let me know that you want it.
Tags: tax, tax softwareShare This Read more:Software
Ask the taxgirl: Money Owed to IRS 2008-04-04 13:23:21 Taxpayer asks:
Kelly,
I hope you can help with this one…
I have been contacted by the IRS that I didn’t file one year and the another year I didn’t file at all. They have sent me copies of my income and other information; the problem is that I don’t have any of my own paper work and [...] Read more:Money
No More Software! 2008-04-08 08:58:47 Hey guys - the response to the tax software promo was great! Unfortunately, we don’t have any more to give away… Those 40 went quickly.
Thanks so much for participating!
Tags: software, tax, tax softwareShare This Read more:Software
Ask the taxgirl: Charity and deductions 2008-04-08 08:31:26 Taxpayer asks:
Hi taxgirl,
There is a woman at our church who recently lost her home in a storm. A few of us put our heads together and decided to take up a collection for her. We collected money, housewares, bedding, you name it. She lost almost everything that she owned so we started [...] Read more:Charity
Ask the taxgirl: Decedents and Remarriage 2008-04-07 05:07:26 Taxpayer asks:
Ok, here’s an extremely random real-life question:
How do you file a return on someone whose spouse died in 2007 and who remarried also in 2007? The deceased in question sold a piece of jointly-owned property, as well as having social security income, so he does need to file, but the spouse can’t exactly file [...]
Ask the taxgirl: Credit Card Debt 2008-04-09 07:46:46 Taxpayer asks:
I spent most of last year paying off my credit card. A friend told me that this was deductible but I don’t know where to put it on my taxes. Where does it go?
Taxgirl says:
I’m guessing that your friend hasn’t filed a tax return since the Reagan era…
Personal debt (other than [...] Read more:Credit Card
, Credit Card Debt
Sentiments Mixed on Housing Tax Bill 2008-04-10 22:59:48 The House of Representatives Ways and Means Committee approved a bill that would offer tax breaks to first-time home buyers. The proposal would allow first-time home buyers, within income limits, a refundable tax credit of up to $7,500 that would have to be repaid to the government over a period of fifteen years. [...] Read more:Mixed
, Housing
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