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income

Tax Trivia Giveaway #2: Presidential Income

18 February 2013

Tweet (Update: We have our winners!) Our second tax trivia question is: In honor of President’s Day, this question focuses on presidential tax returns. Since Richard Nixon, almost all of our U.S. Presidents (and most presidential candidates) have reported this specific kind of additional income on their tax returns. Since it’s occasional income for our [...]

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Election Day 2010 Freebies: What Do They Mean?

2 November 2010

Tweet This election is big for all parties. That’s both a good thing – and a not so good thing – depending on who you are. Of course, in the effort to get out the vote, we’re going to hear about allegations of voter fraud, vote tampering and bribery. Increasingly, these issues are associated with [...]

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Ask the taxgirl: Reporting Income Not on a W-2

2 October 2010

Tweet Taxpayer asks: Hi, Just wondering if I have multiple jobs one year, can I not declare taxes if what I earn from each individual job is less than $600, or does what I make from all the jobs added together have to be under $600? And what if its at the $600 mark; does [...]

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Yes, Some BP Payments are Taxable

27 June 2010

Tweet Oh media, stop trying to create drama where there is none… Days after the IRS confirmed that some compensatory payments to victims of the Gulf Spill are taxable, the news is filled with sensational headlines implying that this is some kind of evil money grab by the government. Shame on those reporters. What’s happening [...]

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Ask the taxgirl: Swaps and Payments

21 May 2010

Tweet Taxpayer asks: I’m a graphic designer and I do printing on the side. Last year, when business was slow, I was in a jam and needed some work done on my roof that I couldn’t afford. I have a friend who just started a roofing company so I agreed to swap out the labor [...]

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Ask the taxgirl: Gifts and Income

3 April 2010

Tweet Taxpayer asks: If I received $500 or say $5,000 in anonymous donations for brain surgery because I have no insurance, do I need to report that anywhere or as income? thank you for any help tax girl. Taxgirl says: So long as these are pure gifts – and you didn’t make any representations as [...]

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Ask the taxgirl: When Is Blogging Income Earned?

12 February 2010

Tweet Taxpayer asks: Thanks taxgirl for helping me out on this one! I have a couple of different ad and affiliate accounts for my blog. When I earn money, they bank it until I hit a certain dollar amount and then they make a deposit into my PayPal account. A few of them accumulated earnings [...]

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Ask the taxgirl: Blogging for Fun (but not for profit)

10 February 2010

Tweet Taxpayer asks: Thanks for taking my question! I wanted to say that I appreciate your blog, I find it easy to read and understand. I also like how you talk about your children as though they’re a real part of your life instead of accessories. That’s very refreshing to see online. That brings me [...]

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Ask the taxgirl: Reporting Dicey Income

9 October 2009

Tweet Taxpayer asks: I have a difficult situation. I won a lot of money in my church’s 50/50. I know I have to report it as income but when I asked for written information from my church, they asked me not to report it. They say they aren’t legally allowed to run a 50/50 and [...]

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