TaxMamas TaxQuips: Tax Quips show

TaxMamas TaxQuips: Tax Quips

Summary: Tax podcast and small business podcast. Tax and small business news tidbits, tips and tax loopholes, covering investment, inheritance, real estate and more from www.taxquips.com - Subscribers are welcome to submit questions at http://iTaxMama.com/AskQuest

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 Divorce Home Sale | File Type: audio/mpeg | Duration: 00:00:00

Alexas_Fotos / Pixabay[/caption] Today TaxMama® hears from Greg in the TaxQuips Forum with a very common divorce issue. Let me paraphrase. “We got divorced. My wife and child stayed in our home. I made the payments. Now, when we want to sell it 7 years later, is there any way at all that I can get the personal residence exclusion?” Hi Greg Well, I have good news for you. 1) Yes, you are entitled to claim the $250,000 personal residence exclusion on your share of the profit when the house is sold. There’s only one glitch here – the exclusion works if there is a divorce or separation agreement allowing this arrangement. Your agreement limited the arrangement to 5 years – not “5 years or until our son leaves home.” If you are audited, that could cause you a problem. 2) Personally, I would not have claimed those additional payments as alimony expenses. I would have used them to deduct the mortgage interest and property tax. But you survived audit…and you have proof of two successful audits, so the IRS may not audit this same issue again – IF you had a “no change” determination. I hope you two can work this out amicably and reasonably. For more great tips on how to save taxes during a divorce, please view our special resource – Tax Checklist for Knotty Divorces . This two hour course can help couples resolve issues fairly – and save thousands of dollars – in taxes and legal fees.   And remember, you can find answers to all kinds of questions about divorce and other tax and business issues, free. Where? Where else? At www.TaxMama.com. [Note: If you were subscribed to the e-mailed version of TaxQuips, you’d be getting other exciting news and tips by e-mail, that never appear on the site. Please click on the join TaxMama.com link – it’s free!] Please post all Comments and Replies in the new TaxQuips Forum .

 Tax Day Deadline - and Extensions | File Type: application/octet-stream | Duration: 00:00:00

stevepb / Pixabay[/caption] Good news! This year we get a few extra days to file our tax returns – until April 18th (19th in MA and MN). But what’s if you’re just not ready? Relax. File an extension – no excuses needed. You get an extra six months to file. Use From 4868 for personal extensions Check with your state for their forms and filing requirements. William Perez at About.com has a good list of the state info. When you expect to owe money, some states, like CA, OK, DE and some others, will only give you an extension if you pay some or most of the balance due. Don’t worry, going on extension won’t increase your chances of audit. Oh, you heard it’s an extension to file, not an extension to pay? That’s true. But they will grant you the extension even if you don’t pay the whole balance due. By filing the extension, you avoid the non-filing penalty of 5% per month up to 25%. AND if you really have a hardship when it comes to paying, there’s a special form to give you more time to pay – Form 1127. For business, like partnerships, estates and gift taxes, use Form 7004 to get the extension – and the corresponding state form. Whatever your tax problem – TaxMama has an answer – free – at www.taxmama.com click on Ask a Question.

 Wasted Refunds | File Type: audio/mpeg | Duration: 00:00:00

stevepb / Pixabay Today TaxMama® wants to bring wasted refunds to your attention. The IRS keeps sending out announcements that refunds are expiring. People keep ignoring those announcements, thinking that this doesn’t apply to them. Last week’s TaxWatch column at MarketWatch.com tells some stories of people who lost their refunds because…shrug, I just can’t be bothered to file right now. Please – read that column and pass it on to your friends or family members who aren’t filing. Let me tell you another story – about someone making close to minimum wage, who also just didn’t bother. One day, this fellow got disabled. He wasn’t in a position to collect either disability or unemployment (OK…through sheer stupidity.) But we were able to persuade him to catch up on his previously un-filed returns (there were at least 7 years unfiled). For the years that were still open, we were able to get him quick refunds of over $3000 . But…for the other years…all gone. And let me tell you, when you are unemployed, sick and have no income coming in, that lost $4000 can make a big difference! It took another 2-3 years before he was able to resolve his medical issues and start getting SSI and VA help. (Don’t ask.) Every tax professional I know has more stories. So do I…like the doctor living in his car with his two children; or the dementia victim whose bank moved and he couldn’t pay his mortgage or file his taxes, or…folks who will break your heart. Please, don’t be one of those statistics. Please, FILE YOUR UNFILED RETURNS! Or help someone you love catch up. Remember, you can find answers to all kinds of questions about tax refunds and other tax and business issues, free. Where? Where else? At www.TaxMama.com. And Remember, if YOU have questions, please post them into the TaxQuips Forum – just click on Ask A Question. (Family members – use this.) [Note: If you were subscribed to the e-mailed version of TaxQuips, you’d be getting other exciting news and tips by e-mail, that never appear on the site. Please click on the join TaxMama.com link – it’s free!]

 First Time Homebuyer and IRAs | File Type: audio/mpeg | Duration: 00:00:00

Today TaxMama® hears from Emily in the TaxQuips Forum with an excellent question. “I’m 35 years old and taking money out of an IRA for a down payment on my house. I am not a first time homebuyer. This will be my primary residence. Should I roll my IRA into a ROTH IRA before taking the funds out? Or just take the funds straight out of the IRA? I have a separate 401k where I’m investing heavily each month.”     Dear Emily, First of all, are you sure you’re not a first time homebuyer? That doesn’t mean you have never owned a home. It means that you haven’t owned a home during the last 2 years. [Sec 72(t)(2)(F) ] “the 2-year period ending on the date of acquisition of the principal residence” If you do happen to qualify, then you have a once in a lifetime “get out of penalty free” card to avoid the 10% early withdrawal penalties when you take the money from your IRA. (and the state’s penalty). You still have to pay the taxes on the $10,000 you draw – for IRS and state. Now…the money must come from an IRA, not a 401k. So if you qualify, use the money in your IRA. Do not roll it into a Roth IRA. However, there’s a better option. You are putting a lot of money into your 401k. If you plan to stay with this employer for the next several years – borrow the money from your 401k instead. The benefits? a) You get the money tax-free. So you get the benefit of ALL the money. (They would withhold 20% of your IRA withdrawal before you get it.) b) You pay yourself back at a low interest rate – so you don’t deplete your retirement account. c) AND you can get up to $50,000 or 50% of the value of the account, whichever is lower. d) You don’t have to worry about whether or not you qualify for the first-time homebuyer rules. The only issue is – does your employer’s plan allow you to borrow? Most do. So find out. Incidentally, if you have the 401k invested in securities you particularly like that will have to be sold – use the funds in your IRA to re-buy those securities so you don’t lose the earning power. And remember, you can find answers to all kinds of questions about buying a home and other tax and business issues, free. Where? Where else? At www.TaxMama.com. [Note: If you were subscribed to the e-mailed version of TaxQuips, you’d be getting other exciting news and tips by e-mail, that never appear on the site. Please click on the join TaxMama.com link – it’s free!] Please post all Comments and Replies in the new TaxQuips Forum .

 IRA Warnings | File Type: audio/mpeg | Duration: 00:00:00

Today TaxMama® hears from Jeff in the TaxQuips Forum with a very common type of problem. Let me paraphrase. “My wife had a traditional IRA at Vanguard and we rolled it over to another company where I set up the account. We didn’t notice that the account was in my name, instead of hers until we saw my name on a recent statement. What now?” Dear Jeff and TaxMama Family, You can read my answer to Jeff here. But I want to talk to you today about avoiding IRA problems. I hear about so many problems from people rolling over funds from one IRA to another, or from a pension plan or 401k to an IRA. Here are some common mistakes to avoid. 1) When moving money from one account to another, make sure to read the paperwork and to log into the new account to: Make sure that it IS an IRA account. Make sure the account is in the correct name – IRA’s belong to an individual – not a couple. 2) If you withdraw the money instead of making a direct transfer, be SURE to deposit the funds to an IRA before the 60 days runs out. Remember, it’s not two months – it’s 60 days.   3) If you plan to draw up to $10,000 to buy a home, you must understand the rules: The money must come from an IRA only – not a 401(k) or other pension plan. So if your money is not in an IRA, move it to one before your withdraw the funds. You are only exempt from the early withdrawal penalties – you must still pay tax on the money you withdraw. Even if you are married, you are only entitled to draw up to $10,000 from your own IRA. If you need more money, you must withdraw the rest from your spouse’s IRA. If your spouse doesn’t have an IRA yet, and you want to save up money for a house, consider funding a spousal IRA for a couple of years before you buy the home. 4) When it comes to all other draws that are exempt from the early withdrawal penalty (on Form 5329) – the money must also be drawn from an IRA. So, again, move money from your pension plans to an IRA before taking any draws. 5) However, when you draw money during a divorce, under the terms of a QDRO – qualified domestic relations order, it MUST come directly from a qualified retirement plan, not an IRA. And remember, you can find answers to all kinds of questions about IRAs and other tax and business issues, free. Where? Where else? At www.TaxMama.com. [Note: If you were subscribed to the e-mailed version of TaxQuips, you’d be getting other exciting news and tips by e-mail, that never appear on the site. Please click on the join TaxMama.com link – it’s free!] Please post all Comments and Replies in the new TaxQuips Forum .

 Happy New Year | File Type: audio/mpeg | Duration: 00:00:00

Today TaxMama® wants to wish you a Happy New Year 2016 – and leave you with these snippets of fun.   I was thinking… ...about how the status symbol of today is those cell phones that everyone has clipped on. I can’t afford one so I’m wearing my garage door opener. You know, I spent a fortune on deodorant before I realized that people didn’t like me anyway. ...that women should put pictures of missing husbands on beer cans. ...about old age and decided that it is when you still have something on the ball but you are just too tired to bounce it. ...about making a movie for folks my age and call it “Pumping Rust.” I have gotten that dreaded furniture disease … that’s when your chest is falling into your drawers. You know when people see a cat’s litter box, they always say, “Oh have you got a cat?” Just once I wanted to say, “Nope. It’s for company. Help yourself. Make yourself comfy. Take your time.” Employment application blanks always ask who is to be notified in case of an emergency. I think you should write A Good Doctor … or 911! Why do they put pictures of criminals up in the Post Office? What are you supposed to do, write to these men? Why don’t they just put their pictures on the postage stamps so the mailmen could look for them while they deliver the mail? ...about how people seem to read the Bible a whole lot more as they get older, then it dawned on me: they were cramming for their finals. And remember, you can find answers to all kinds of questions about tax and business issues, free. Where? Where else? At www.TaxMama.com. [Note: If you were subscribed to the e-mailed version of TaxQuips, you’d be getting other exciting news and tips by e-mail, that never appear on the site. Please click on the join TaxMama.com link – it’s free!] Please post all Comments and Replies in the new TaxQuips Forum

 Innocent Spouse Relief - Sort of | File Type: audio/mpeg | Duration: 00:00:00

Today TaxMama® hears from Melissa in the TaxQuips Forum. “I was granted innocent spouse relief after my divorce in 2013. Yet when I filed my taxes this year, I didn’t get my refund and received no info on why; or if it went to my ex-husband’s unpaid state (WV) taxes, that he hasn’t paid for 3 yrs on his small business. They took my refund for 2013. But I thought if I was granted innocent spouse, they couldn’t take them for 2014.”   Hi Melissa, You may have been granted innocent Spouse relief from the IRS. But were you granted the same thing in WV? If you did not file for relief with them, you are still responsible. Try filing a claim with them on the basis of your IRS relief. Send them the IRS determination letter, along with any forms that WV uses for innocent spouses. Until you do, the IRS simply acts as a collection agency for the state. They have no choice, if you don’t resolve it on the state level. If you have filed for relief with the state, then call the state and ask them to return your money. Have their relief letter handy to fax over to them. And remember, you can find answers to all kinds of questions about innocent spouse and other tax and business issues, free. Where? Where else? At www.TaxMama.com. [Note: If you were subscribed to the e-mailed version of TaxQuips, you’d be getting other exciting news and tips by e-mail, that never appear on the site. Please click on the join TaxMama.com link – it’s free!] Please post all Comments and Replies in the new TaxQuips Forum .

 October 15th is NOT the filing deadline for Everyone | File Type: audio/mpeg | Duration: 00:00:00

October 15th is the annual filing deadline for all personal income tax returns. This year, some (un)lucky folks in several disaster areas around the country have extra time to file – as long as they were wise enough to put their personal tax returns on extension. What about the rest of us? We still face the usual deadline – and it’s nearly here. Let’s outline the special provisions available to victims in the various disaster areas. One tax professional posted on Facebook that he was burning the midnight oil trying to get the bookkeeping done for a business client. He was frustrated with all garbage (personal expenses) in the records that was taking him forever to clear out of the business Profit and Loss data, so he could complete tax return before October 15. Suddenly, he realized – the client was in the flood area of South Carolina. What a relief, the tax return would not be due for four more months. Why? Several South Carolina counties were victims of floods[1]. All tax payments and filings that were due from October 1, 2015 are also deferred until February 16, 2016. They include the following benefits, many of which apply to all disaster areas: They can make their 4th quarter personal estimated tax payment on February 16, 2016. Since that’s normally due on January 15, 2016, they have an extra month. Quarterly payroll tax returns and excise tax returns for the 3rd and 4th quarters. Late payment penalties, late filing penalties and interest will be forgiven during this period. People living outside the affected areas may also qualify for these benefits if their records were in the flood areas and were destroyed or damaged. September brought fires to parts of Northern California[2], while August brought the Napa earthquake. Those affected have until January 15, 2016 to file their personal tax returns, as well as any corporate tax returns that were due on September 15th. Their third and fourth IRS estimated tax payments are deferred until then, as well. The Commonwealth of the Northern Mariana Islands was hit by Typhoon Soudelor[3]. Believe it or not, there are American taxpayers. They get to defer their filings and payments for anything that was due on or after August 1, 2015 until November 30, 2015. As with California, that includes all personal and business tax filings, payments and reports. Victims of the severe storms in Kentucky last summer, have a couple of extra weeks to file their personal tax returns – until November 2, 2015[4]. If you live in anywhere that has been declared a Presidential Disaster Area, you are entitled to extra time for a variety of filings. Relief from penalties and interest – and get special disaster filing privileges to report your casualty losses. Please visit the IRS’s Tax Relief in Disaster Area page to see what your deadlines and benefits are – https://www.irs.gov/uac/Tax-Relief-in-Disaster-Situations ————References: [1] https://www.irs.gov/uac/Newsroom/IRS-Provides-Tax-Relief-to-South-Carolina-Flood-Victims-Oct.-15-Tax-Deadline-Extended-to-Feb.-16 [2] https://www.irs.gov/uac/Tax-Relief-for-Victims-of-Valley-and-Butte-Fires-in-California [3] https://www.irs.gov/uac/Tax-Relief-for-Victims-of-Typhoon-Soudelor-in-the-Commonwealth-of-the-Northern-Mariana-Islands [4] https://www.irs.gov/uac/Tax-Relief-for-Victims-of-Storms-Tornadoes-Winds-Flooding-Landslides-and-Mudslides-in-Kentucky

 Taxable Complimentary Stuff | File Type: audio/mpeg | Duration: 00:00:00

Today TaxMama® hears from Rick in the TaxQuips Forum. Let me summarize his issue. He just learned that he is getting a $9,000 1099MISC for items he receives to review. He can’t use most of those things, but he’s not allowed to sell them. Yet, he will be paying taxes on the retail value of these things. What can he do?   Dear Rick, I honestly don’t know what to tell you. This IS a bad deal. The taxes might be higher than your actual compensation. If you had discussed this with a tax pro before starting this, you might have negotiated the contract differently. For instance, under the circumstances, you need to talk to them about changing your arrangement. If these are non-consumables (things you don’t use up in the course of the review), INSIST that you will return the items and not get 1099’d for them. In the meantime, you have a problem. Your business can’t really take a charitable contribution for the donations. YOU may take the contribution on your Schedule A – Itemized Deductions. And if you don’t have enough expenses to itemize, you don’t even get that benefit. You MIGHT try to deduct the items you donate to charity on you Schedule C. Defend the Schedule C deduction because the contract requires you to donate them, I suppose. Or look up what it would cost you to buy each item and print it out. Report the full 1099 income on your Schedule C, but on the second page where you have blank lines you use, enter “adjustment for actual market value of 1099 goods” and deduct the difference. Keep the records in your file. Pray you are never audited. And remember, you can find answers to all kinds of questions about 1099s and other tax and business issues, free. Where? Where else? At www.TaxMama.com. [Note: If you were subscribed to the e-mailed version of TaxQuips, you’d be getting other exciting news and tips by e-mail, that never appear on the site. Please click on the join TaxMama.com link – it’s free!] Please post all Comments and Replies in the new TaxQuips Forum .

 Business Tax Returns | File Type: audio/mpeg | Duration: 00:00:00

Today TaxMama® wants to talk about the upcoming tax filing deadline on September 15th for calendar year entities. Returns that are due include partnerships, corporations – C & S, certain estates and trusts. It’s important to know what to get ready for your tax pro or you. Dear Family, After decades of preparing business returns for my own clients, teaching my students or advising others, I take a lot of organizations elements for granted. There are certain minimum reports you need when you prepare an entity’s tax return – whether you do it yourself, or have a tax pro help you. Here’s the list of the copies we need – not originals: All 1099s and other outside party reports sent TO the business. Copies of all estimated tax payments made by your business to the IRS and state, if applicable. Sales tax returns for all periods (monthly, quarterly, semi-annually, or annually) Payroll tax returns – note: if your business is a corporation, YOU need to be on payroll. They are needed for each quarter, plus the year-end reports that include the W-3/W-2s, and unemployment insurance. Copies of all state, city, county or other reports you have (or should have) filed during the year. 1099s – copies of all that were filed. They should have been filed no later than March 31st if they were filed electronically. By February 28th, if filed on paper. Mileage report on each business vehicle – it should include total miles driven and the business miles Financial Statements – and yes, if you are filing an entity tax return – you SHOULD be keeping books. Know if you file on cash or accrual – and pull both reports using the same accounting method Profit and Loss Statement Balance Sheet Detailed General Ledger – to look up information in certain accounts to see if all expenses are recorded in the correct place – and if they are deductible. While not absolutely essential, a copy of all the December bank statements for your business, reconciled. I know this seems like a lot. And it might seem as if your tax pro is auditing your business. We are not. What we are doing is matching up everything that the IRS and state governments know about you. By reconciling all these elements, we are able to reduce your audit risk substantially. And remember, you can find answers to all kinds of questions about business tax returns and other tax and business issues, free. Where? Where else? At www.TaxMama.com. [Note: If you were subscribed to the e-mailed version of TaxQuips, you’d be getting other exciting news and tips by e-mail, that never appear on the site. Please click on the join TaxMama.com link – it’s free!] Please post all Comments and Replies in the new TaxQuips Forum .

 TaxMama s TaxQuips Net Operating Losses | File Type: audio/mpeg | Duration: 00:00:00

Today TaxMama® hears from Jean in the TaxQuips Forum, with this problem. “I have a client that hasn’t filed his personal tax returns for 8 years. He is currently under audit, and I am preparing the returns. Can I carryback net operating losses (NOLs) from 2012 to 2010, and forward from 2009 to 2010? Since these tax returns have never been filed to begin with, does that allow me to go that far back?” Hi Jean You don’t have any choice, actually. To waive the carryback period, the taxpayer would have had to have filed a TIMELY return and they must have included the election to waive the carryback. http://www.irs.gov/publications/p536/ar02.html#en_US_2014_publink1000177379 To make this choice, attach a statement to your original return filed by the due date (including extensions) for the NOL year. This statement must show that you are choosing to waive the carryback period under section 172(b)(3). The bad news is – even if you use the carryback (and you must), he won’t get any refunds from those closed years. The good news is – the NOLs can potentially eliminate all the taxes due. But this is interesting…what can he possibly be audited for if he hasn’t filed a tax return for 8 years? And remember, you can find answers to all kinds of questions about net operating losses and other tax and business issues, free. Where? Where else? At www.TaxMama.com. [Note: If you were subscribed to the e-mailed version of TaxQuips, you’d be getting other exciting news and tips by e-mail, that never appear on the site. Please click on the join TaxMama.com link – it’s free!] Please post all Comments and Replies in the new TaxQuips Forum .

 IRS Notices | File Type: audio/mpeg | Duration: 00:00:00

Today TaxMama® hears from Paul in the TaxQuips Forum, with this common issue. “I just received a CP2000 Notice from the IRS informing me of $1,900 in proposed taxes due from 2013. (On our joint return, I forgot to include my wife’s 1099 earnings in the amount of $5,100.) This amount due seems high, given that we are in a 15% tax bracket (not a nearly 40% bracket).”   Dear TaxMama Family, My answer to Paul is posted in the TaxQuips Forum. But I want to talk to you about these IRS notices in general. Interesting, I’ve had a couple of questions this week about CP-2000 notices issued on the 2013 tax returns. They are late. Usually, they are issued by about September of the filing year (i.e. 2014). Don’t be afraid. This isn’t an audit. These CP-2000 notices are computer-generated and based on a cross-reference of W-2s, 1099s, etc that the IRS received, that should be on your tax return. Quite often, you have reported the income – only not where the computer expected to find it. You can clear up that problem easily by making a phone call or writing a letter to the IRS to explain where you reported the income. If the notice IS correct, just pay the balance due. Generally, these CP-2000 notices will only propose a tax due, but no penalties will be assessed if you pay the balance due. You will, however, owe interest. What’s if you cannot pay the balance due? Don’t worry. The IRS has made it easy for most people to set up your own installment plan. You can do it online if you owe less than $50,000 including penalties and interest. You don’t need to pay anyone a thousand dollars or more to do it for you. But you will pay the IRS an administrative fee – $52 or $120. And you will need to be in compliance (current on withholding and/or estimated tax payments) to get your agreement accepted automatically. And remember, you can find answers to all kinds of questions about IRS notices and other tax and business issues, free. Where? Where else? At www.TaxMama.com. [Note: If you were subscribed to the e-mailed version of TaxQuips, you’d be getting other exciting news and tips by e-mail, that never appear on the site. Please click on the join TaxMama.com link – it’s free!] Please post all Comments and Replies in the new TaxQuips Forum .

 Reasonable Care and RMD | File Type: audio/mpeg | Duration: 00:00:00

Today TaxMama® hears from Sonia in the TaxQuips Forum, who has this quickie question. “I contacted the custodian of my IRA AT 3 PM on 12/31 to request a required minimum distribution (RMD). The transaction ended up being dated 1/1. Will the 50% penalty apply? If so, how can I apply for relief?” Dear Sonia, There IS a way to get penalty relief on RMDs, IF reasonable steps were taken to take the required minimum distribution. Calling the custodian at 3 pm on New Year’s Eve, when most people have already left for the holiday, and expecting the transaction to be done that day is, well…not exactly reasonable. But you can certainly request penalty relief. And if this is the first error or the first RMD, you are apt to get the penalty waived. Mike Reed, EA confirms that he gets these penalties waived regularly. Please follow this procedure, which is explained on the IRS RMD FAQs. The worst they can do is to say, “No.” Be sure to explain why the request was made at the last minute. Did you not know about this responsibility until then? And how did you suddenly find out? Why will this never happen again? And folks, any time you have deadline-based transactions, perform them at least a week early. Not at the last minute. Especially if you must rely on someone else to process the transaction for you. Otherwise, not only will there be penalties; but missing the deadline may make it impossible for you to get the relief or results you wanted to achieve. And remember, you can find answers to all kinds of questions about IRS penalties and other tax and business issues, free. Where? Where else? At www.TaxMama.com. [Note: If you were subscribed to the e-mailed version of TaxQuips, you’d be getting other exciting news and tips by e-mail, that never appear on the site. Please click on the join TaxMama.com link – it’s free!] Please post all Comments and Replies in the new TaxQuips Forum .

 Vacation Home Mortgage | File Type: audio/mpeg | Duration: 00:00:00

Today TaxMama® hears from LFloom in the TaxQuips Forum with a very good question. We want to buy a vacation home that will eventually be a retirement home. It is difficult and more expensive to get a loan on this place. So, I want to get a mortgage on my primary home to buy the second home. Will the interest be tax deductible? Dear LFloom, That is an excellent question. And I am so glad that you asked this before going forward. You would think this would be straightforward. The loan is really meant for the new residence, so why should you have any problem with the deduction? Unfortunately, the way the current tax laws are written, your mortgage interest deduction, essentially works like this: You get to deduct all the interest on the mortgage to buy or to improve/repair your personal residence or one second residence (acquisition debt). The limit on the amount of the loan is $1 million. Plus you get to deduct the interest on another $100,000 worth of debt secured by one of your homes. Since the loan you will taking out will be on your personal residence, and it will not be secured by the vacation home, you are limited to deducting the interest on only $100,000 of debt. To get some ideas on how to make this work, please log into the TaxQuips Forum . And remember, you can find answers to all kinds of questions about mortgage interest and other tax and business issues, free. Where? Where else? At www.TaxMama.com.

 Tax Season Blues | File Type: audio/mpeg | Duration: 00:00:00

Today TaxMama® just wants to bring up a little lightness of being. Today is the day to pay last year’s taxes with the extension; estimated taxes for this year, and the final IRA contribution to reduce last year’s taxes a bit. So…it’s time to sing the blues.       The Post-Tax Filing Blues I finally filed my tax return. Through sleepless nights, how my eyes burn. I dug and searched before I filed. But let me tell you, I am riled. I work too hard and pay a ton. But, hey,…for now, my tax return’s done. …. is yours?   © Eva Rosenberg 2004 And remember, you can find answers to all kinds of questions about paying taxes and other tax and business issues, free. Where? Where else? At www.TaxMama.com. [Note: If you were subscribed to the e-mailed version of TaxQuips, you’d be getting other exciting news and tips by e-mail, that never appear on the site. Please click on the join TaxMama.com link – it’s free!] Please post all Comments and Replies in the new TaxQuips Forum .

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