Turbo Tax has announced the winners of its rap contest (marketing genius, btw). First place was awarded to Christian Pulfer, a 28-year-old real estate investor from Brooklyn, NY. Carl Tietze from Portland, Ore., was named the $5,000 first-place winner. Rhett McLaughlin and Zink Neal from Fuquay-Verina, N.C., were the $1,000 second-place winners. The winners were…
The IRS is warning taxpayers to avoid a site claiming to assist taxpayers file for free through the “Free File Alliance.” You can only access Free File through the IRS web site at www.irs.gov. In the scam, various web sites claim to work with the Free File Alliance, a partnership between 19 tax software companies…
Taxpayer asks: Last year I donated a painting that I created to our local church. I sold a similar painting through a gallery around the same time for $1000. Can I skip an appraisal and just use that the value for my charitable deduction on my tax return? Taxgirl says: Around this time of year,…
There’s lots of talk on the Hill these days about repealing the alternative minimum tax (AMT). So today’s Fix the Tax Code Friday question is: Should the AMT be repealed or should it be amended to apply to high wage earners only?
Taxpayer asks: My husband and I are married, lived apart most of 2006 but did reside together the last several weeks of 2006. My husband retired and had no income for 2006. I had only interest income – more than $3, based on that believe that because of “living together at the end of 2006”….
Taxpayer asks: I had a IRA from a former employer that was rolled over to a brokerage account in 2006. While preparing for my tax appointment, I contacted the brokerage house to find out if I was due a 1099 as I hadn’t received one. They said no. So I went to my appointment, got…
Taxpayer asks: Hi,I rescue stray cats and take them to my vet to get them fixed. Can I deduct vet bills, disinfectant, feed and so on from my Income Tax Return? Thanks. Taxgirl says: Good question, but unfortunately the answer is no. You can’t deduct charitable acts like helping out animals, giving a homeless person…
Singer Marc Anthony, who is best known these days for being married to Jennifer Lopez, has agreed to pay about $2.5 million in back taxes, interest, and penalties because of his failure to file income tax returns. Manhattan District Attorney Robert Morgenthau said that Anthony, who was not prosecuted on tax charges, failed to file…
Did you find what you were looking for? Was the site a wee bit helpful? Did you learn a little something? If you didn’t fall asleep while browsing, stop by, and vote for taxgirl.com at the Blogger’s Choice Awards. And thanks to the reader who nominated me (you know who you are)!
Thanks to a reader who pointed out this article about tax allocation: http://www.wisegeek.com/what-is-personal-tax-earmarking.html