Posts tagged as:

income-tax

Ask the taxgirl: Do I need my 401(k) statement?

9 March 2009

Taxpayer asks:
is a person suppose to take his 401 k statement with him when he gets his taxes done! even though im not taking anything out of it as a penalty and i dont plan on it! sure the 401 k plan is another income but im not taking anything out of it until i [...]

1 comment Read the full article →

Twitter Tax Tips #7

8 March 2009

For 2008 tax year, those who itemize can deduct state and local general sales taxes OR state and local income taxes. #TwitterTaxTip
(For more on twitter tax tips, see my prior explanatory post.)

0 comments Read the full article →

Fix the Tax Code Friday: Illegal Activity & the IRS

23 January 2009

It’s Fix the Tax Code Friday!
One of the “ask the taxgirl” posts this week focused on the question of illegally gained income. According to the Tax Code, all income, regardless of the source, must be reported on your tax return. This includes drug sales, illegal betting operations, prostitution, bribes, the whole bit.
Clearly, including [...]

5 comments Read the full article →

Hate To File Taxes? Tell Me About It.

5 January 2009

It’s the Third Annual “Tax Filing Horror Contest” at taxgirl.com!
Have a horrible tax filing story? Car break down blocks from the post office? Ran out of paper in the printer? Dog ate your return?
Tell me your worst tax filing story – or simply complain about the thing you hate most about filing taxes – [...]

42 comments Read the full article →

Ask the taxgirl: Lotto Winnings & Other Income

4 January 2009

Taxpayer asks:
I deliver newspapers. Wondering if the Christmas money I receive is taxable. Also, why are lotto winnings taxable? How are you working for that money?

Taxgirl says:
I believe that the money that you receive at Christmas is taxable. It is not really a *gift* (read more about gifts and bonuses here). It’s an [...]

2 comments Read the full article →

23 Ways to Cut Your 2008 Business Income Tax Bill

30 December 2008

I previously blogged how to cut your 2008 individual income tax bill. I could hear the comments as I was writing: what about my business? Well, never fear! Following are some last minute suggestions to help save on your 2008 tax bill.
But first, a word of caution: Just [...]

0 comments Read the full article →

21 Ways to Cut Your 2008 Individual Income Tax Bill

30 December 2008

The clock is officially ticking. You only have a few more hours to lower your 2008 tax bill. Here are some last minute suggestions:

Make a donation to charity. Cash, check or credit card payments made by the end of the year to a qualified charitable organization will result in a charitably deduction. [...]

6 comments Read the full article →

Ask the taxgirl: Prize Money

22 December 2008

Taxpayer asks:

Hello taxgirl,
I am helping a friend prepare a 2007 tax return. He received a 1099 with income in box 3 other income for a prize he won. Will he have to pay SE tax on this income?
Thanks
Taxgirl says:
If the prize is unrelated to your friend’s employment or business and is reported on [...]

4 comments Read the full article →

Ask the taxgirl: How much will Obama’s tax plan cost me?

8 October 2008

Taxpayer asks:
My wife and I make a combined annual income in the ballpark of $270-280K/year. We work hard, and are saving for a home in order to start a family. I need someone to explain something to me …. I understand that Barak Obama’s proposed tax plan uses the $250K mark as the line separating [...]

4 comments Read the full article →

Dialing Up Trouble: IRS Tries to Enforce Cell Phone Fringe Benefits

4 August 2008

Cell phones are changing the world. A few years ago, I called my mother in the afternoon on my cell phone – to my carrier, a minute was a minute no matter when you called. I remember vividly my mother’s response.
“It must be nice,” she said, “to be so rich that you [...]

13 comments Read the full article →

← Previous Entries

Next Entries →