Tax news and guidance for individual taxpayers — filing tips, deductions, refunds, and everything else that hits your personal return.
Taxpayer asks: there is a lot of talk that we the people will be getting another stimulus check. Is that true? Taxgirl says: I know that folks want the answer to this question to be different… I know this because I receive several variations on this question per day – including a recent email from…
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. Get a…
I don’t get folks some times. All you hear anymore is how we don’t want more government… And then the National Retail Federation, which claims to be the world’s largest retail organization, goes and asks for more government. Let me back up. The NRF has asked President Elect Barack Obama to include a national sales…
Taxpayer asks: Hi Taxgirl… Quick question…I live in CA My current employer, as part of his benefit plan, pays for my medical insurance. If I want to get medical for the rest of my family, I have to pay extra. According to someone who works here, they claim that is deductible as a medical expense…
Taxpayer asks: I think this should be an easy question for you… are monetary gifts ($250) given to employee spouses taxable as W-2 wages to the employee? Taxgirl says: Au contraire. This one feels like it should be easy but it isn’t. And the reason it’s not easy is because I am fairly certain that…
There are, as of this writing, 17 days until the end of the taxable year for individuals. In everyday speak, that means that you have 17 days to squeeze in your remaining tax deductions for 2008 (yeah, yeah, you tax folks, there are some IRA exceptions but that’s confusing the issue for the purposes of…
Everyone loves a happy ending, right? And Extreme Makeover, the popular ABC reality television show, always has a happy ending. The thing is, the troubles of those on the show don’t always end once the cameras shut off. Consider Larry and Judy Vardon. The couple have a child who is blind and autistic; they are…
Effective for the year 2008, some taxpayers can save for retirement and earn a special tax credit. This credit, referred to as the “saver’s credit” can offset the first $2,000 contributed to the taxpayer’s IRA, 401(k) and other retirement plans. There is a catch. The credit is only available to taxpayers which meet certain income…
Taxpayer asks: Hey, is this where I can ask questions for TaxGirl? Hope so, cuz here goes! A co-worker told me this long, sad story last week. I’ll shorten it here. She has been working part time since August of 2007, and was supposed to be on half salary. Well, it was JUST determined that…
Taxpayer asks: Tax girl, I have been seperated from my wife for over 20 years. But we have never had a legal seperation on paper.Can I file single or do I still have to file Married filing seperate?Thank you for any information you can give. Taxgirl says: The feds look to state law for the…