Many of you have sent in questions to “ask the taxgirl” regarding tax planning and how to maximize your tax savings on your 2009 returns. Clearly, this is something that there’s a lot of concern about. These are great questions and I will be addressing those a bit after Tax Day!
Taxpayer asks: Im going to settlement on a property on May 1st, 2009. I havent filed my taxes yet because I wasnt sure if I should… Should I file for an extension until after settlement to make sure I get the $7500-$8000 all together… or should I file now?? I dont know if they have…
Taxpayer asks: Can lawyers, students studying for their bar check into others tax returns and see how much they received back from their taxes for any given year? Taxgirl says: As I understand it, you’re asking whether you can snoop around and see how much other people paid or received in taxes…Um, no. A big…
Taxpayer asks: Dear Taxgirl,Congress has passed a bill allowing a tax deduction for the sales tax on the purchase of a new car. Does that differ from the current Schedule A deduction possible for additional tax for major items? Is this “much sound and fury signifying nothing?” The devil is in the details. Best regards,…
Taxpayer asks: What a great service. Hope I can explain this good enough. I have been disabled for 3 years, have received disability income from a private insurance company. This was not taxable because I paid the premiums. Was approved for disability end of 2008 and got a lump sum check. Had to then send…
Taxpayer asks: What about a taxpayer who owes the IRS $$$ from previous tax years? Should they adjust their W-4 to have more taxes taken out to cover the Making Work Pay credit that will be on their paychecks? Taxgirl says: It depends. The Making Work Pay Credit is refundable, so to the extent that…
Taxpayer asks: I have a query on the recovery rebate for the year 2008. Let me explain my status as of last year and current year. Last year : Tax filed as “Married filing jointly”Myself – have SSNWife – ITINKID1 – ITIN Since my wife didn’t have an SSN, we didn’t qualify for the stimulus…
Taxpayer asks: Hi Taxgirl, I seen you on Good Day Philadelphia today, and I’m glad there is someone out there that really knows what she’s talking about. I recently received a medical settlement the last week of December in 2008. The settlement I received was under 90,000, I don’t know if I have to pay…
Taxpayer asks: I had been working for a company for a short time, it has now ended.. This is what happen… I worked 18 hours at 11$ an hr, but was paid for 42 hrs. They are requesting that I pay back 229.35 How do I go about with my tax information? Is there some…
Taxpayer asks: Dear taxgirl, Can a taxpayer refuse to have the credit on their paychecks and receive the full credit on their 2009 return? Also – are they changing the tax table for 2009 to help with this credit? Taxgirl says: The answer to the last question is the easiest: yes, the tables have been…