Posts tagged as:

income

Election Day 2010 Freebies: What Do They Mean?

2 November 2010

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 the [...]

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

2 October 2010

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 it [...]

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Yes, Some BP Payments are Taxable

27 June 2010

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 in [...]

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Ask the taxgirl: Swaps and Payments

21 May 2010

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 for [...]

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Ask the taxgirl: Gifts and Income

3 April 2010

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 to [...]

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Ask the taxgirl: When Is Blogging Income Earned?

12 February 2010

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 in [...]

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

10 February 2010

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 to [...]

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Ask the taxgirl: Reporting Dicey Income

9 October 2009

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 if [...]

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Ask the taxgirl: Income Tax on Gifts

25 July 2009

Taxpayer asks: Recently my father-in-law passed away. My Mother-in-law is planning on selling her home and giving each child $10,000 and then putting the rest in CDs and she is planning on doing this before the end of the year. How will this affect the income tax that we have to pay? My husband says [...]

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Ask the taxgirl: Income Tax Consequences of a Gift

4 May 2009

Taxpayer asks: Hi Tax Girl Question If someone pays my Credit line directly. i.e. they write a check directly to my bank to lower my credit line balance. with their after tax dollars. Is this taxable income to me. Taxgirl says: It depends on who that “someone” is… In most cases, this would be considered [...]

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