Ask The Taxgirl: Taxing Social Security Benefits

Taxpayer asks: If you have turned full retirement age and are receiving your retirement and also still working full time, how does this effect your taxes? Thank you. taxgirl says: This is a pretty common scenario these days – and a popular question! Once you reach retirement age, whether your Social Security payments are taxable … Read more

Ask The Taxgirl: Last Minute Tax Tips & Issues

On Friday, I tackled some last minute tax questions from readers and viewers via a Forbes Google+ hangout. You can watch the entire hangout here (be forewarned, it’s about an hour long). In addition to last minute tax tips – and filing errors to avoid – I promised some follow-up information in the piece, so … Read more

Ask The Taxgirl: Home Offices And Capital Improvements

Taxpayer asks: I’m confused. Both my wife and I have home offices, each using about 5% of the total home square footage. Last year, we replaced the both the hot water heater and the washer/drier. For the hot water heater, I think it’s very clear, that improvement directly impacts our home office use, so I … Read more

Ask The Taxgirl: Paying For Kindergarten

Taxpayer asks: Most of what I read says that kindergarten tuition cannot be used in figuring the Child Care Tax Credit. However, that said, I thought that if a person resides in a state that does not have mandatory attendance in kindergarten, the tuition can be used to figure the Child Tax Credit. Kindergarten is … Read more

Ask The Taxgirl: Deducting The Cost Of Birth Control

Taxpayer asks: Hi Taxgirl, My health insurance doesn’t cover the cost of my birth control. I am trying to decide between pills and an IUD. Would either or both of them be tax deductible? taxgirl says: You can only deduct qualifying medical expenses for federal income tax purposes. Qualifying medical expenses include the costs of … Read more

Ask The Taxgirl: Do Homeschooling Expenses Qualify As An Educator Expense?

Taxpayer asks: I called the IRS they couldn’t help me and told me to call our local office since they do not know our state laws. I did. They couldn’t give me live help on the phone unless I was a business and to have my SS number ready. TurboTax gave me a “I think … Read more