Posts tagged as:

income

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 late [...]

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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 my question. [...]

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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 [...]

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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 [...]

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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 a gift to you [...]

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Ask the taxgirl: Overtime and 1099s

8 April 2009

Taxpayer asks:
Hello, I have a question concerning a 1099 . I work for a company full time and get a w-2 at the end of the year. I have been asked to work additional hours and know that they usually do not like overtime. Can i ask them to 1099 me at [...]

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Ask the taxgirl: Where to Report Charitable Contributions

9 January 2009

Taxpayer asks:
Hello there and thank you for answering my question.
I am self employed and contributed nearly $8,000 in cash/non cash donations this past year (goodwill, church, habitat for humanity). When my friend did my taxes on her computer program it did not reflect a deduction upon entering in the charitable donation information.
I hve [...]

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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 [...]

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Qualifications for Senator: 30 Yrs Old, US Citizen for 9 Yrs, State Residency (Understanding of Tax Code Not Required)

19 May 2008

Colorado senator Ken Salazar, who bested Coors beer Pete Coors for his Senate seat in 2004, has been mocked for his ignorance of the US Tax Code.
Salazar, a fifth-generation Colorado rancher, touted himself as a man of the people, claiming that he understood the struggles of the working class and would create jobs and boost [...]

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TurboTax Responds to Customers Regarding Tax Rebates

17 May 2008

A reader just passed along this letter from Bob Meighan at TurboTax that several folks have apparently already received:
Dear Valued Customer,
We want to provide you with the most up–to–date information about the tax rebate to which you may be entitled.
Recently, you may have received a letter from the IRS advising you when to expect your [...]

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