Taxes General Forum

Pay medical bills now?

Would there be a tax advantage to me for paying a good chunck of my medical bills, half?, in 2008, versus paying all of...

7 comments posted 17yrs

posted by bob234REMOVETHIS

7 comments posted 17yrs posted by bob234REMOVETHIS

does a gift reduce my deductions?

I just got a gift card for $25 of gas from an organization I volunteer for, "to offset travel expenses". Does this redu...

14 comments posted 17yrs

posted by Mort

14 comments posted 17yrs posted by Mort

Deduct both sales and income tax?

I live in WA so regularly deduct sales taxes per the usual formula. In 2008, I also paid income tax to CO as a result o...

1 comments posted 17yrs

posted by guy

1 comments posted 17yrs posted by guy

question on state tax

Anybody understand the last statement in the Connecticut section on this wiki page (http://en.wikipedia.org/wiki/Sales_...

16 comments posted 17yrs

posted by myinterest

16 comments posted 17yrs posted by myinterest

Two municipal bond fund questions

(1) TP bought a tax-free municipal bond mutual fund in 1993, selling it in 2008. During this interval all dividends pai...

7 comments posted 17yrs

posted by spope33

7 comments posted 17yrs posted by spope33

Tax Overpayment - balance sheet ?

How should an overpayment of estimated 2008 corporate taxes be included in an accrual-based Balance Sheet "Assets"? This...

2 comments posted 17yrs

posted by nearly_blind

2 comments posted 17yrs posted by nearly_blind

State Corporate Tax - Federal Tax deduction

I understand that state tax payments generally reduce US corporate taxable income 1:1. I would like to confirm that no...

2 comments posted 17yrs

posted by nearly_blind

2 comments posted 17yrs posted by nearly_blind

Accounting gifts

For those who didn't get what they wanted from Santa this Christmas, maybe consider this: http://www.thewirelesscatalog...

0 comments posted 17yrs

posted by paulthomascpapc

0 comments posted 17yrs posted by paulthomascpapc

Rental Expenses

If I read this correctly, a landlord can take repair expenses on a rental unit in the year paid. But how significant ca...

9 comments posted 17yrs

posted by rdadams

9 comments posted 17yrs posted by rdadams

Happy Holidays

I wish each and every one of you peace and joy. Dick

4 comments posted 17yrs

posted by rdadams

4 comments posted 17yrs posted by rdadams

Reporting Payments on Compound Interest Loans

Most software that records and reports simple interest loans, makes it very easy to see what part of each payment is a...

8 comments posted 17yrs

posted by nisha

8 comments posted 17yrs posted by nisha

TurboTax and TaxCut disagree over whether state income tax refund is taxable. Who's right?

Hi all: I took the standard deduction in my 2007 Federal income tax return. In 2008 I will itemize. In January, 2008 I...

4 comments posted 17yrs

posted by tgyoung

4 comments posted 17yrs posted by tgyoung

Worker, Retiree, and Employer Recovery Act of 2008 (H.R. 7327) re: RMDs for age 70-1/2 in 2009

I turn 70 on March 6, 2009--hence 70-1/2 during 2009. Before the recent Worker, Retiree, and Employer Recovery Act of 2...

1 comments posted 17yrs

posted by odaulaire

1 comments posted 17yrs posted by odaulaire

Compensation for being a Resident Advisor taxable?

My son is going to be a Resident Advisor at college next term. He gets free room and board. It worth about $7,500. Does...

3 comments posted 17yrs

posted by Mort

3 comments posted 17yrs posted by Mort

Wiped-out investment -- necessary to sell?

I have some worthless Washington Mutual bonds. They last traded at one penny -- that is to say, one ten-thousandth of f...

4 comments posted 17yrs

posted by spope33

4 comments posted 17yrs posted by spope33