Description:
Tax laws and advice.
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IRA Question
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My wife and I file a joint return. I have income and she does not. We are both over 60 and I am covered by a retirement plan. Because of our AGI, the tax software I use calculates that I can deduct $1000 for an individual IRA and my wife can deduct the full $6000. So on our joint tax return, we would... more »
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Negro Food Network chef arrested for tax evasion
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[link]
arrested-for-tax-evasion/
A former Food Network celebrity chef has been arrested for tax evasion in Houston, according to KPRC Local 2 News.
Wendell price, 43, was arrested by U.S. marshals in Houston on three felony warrants for falsification of tax records and... more »
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Dependent Care FSA Enrollment Mistake
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My partner and I had a child in October and are planning on leaving
him with a nanny starting in March. For this purpose, during open
enrollment I opted to open a dependent care FSA. Some time later
after enrollment was closed and before the end of the year, my partner
and I decided that she would claim the child as her dependent (we file... more »
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Question on partnership return
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Folks, Our LLC (which is a partnership dealing with a rental property)
paid $800 in taxes to CA in 2010. I wanted to know where in form 1065
would this get reported for 2011?
Or is this an expense on form 8825? If so does it show up under taxes
(line 11) of 8825?
Thanks.
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strange gain/loss
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On 10/27/11 I sold short bought bought back SPXW . These are puts on the SPX index. It turned out to be a lousy trade,I lost on the deal. However, on Gainskeeper (Ameritrade), it apportioned 60% of this loss as a long term capital loss. The other 40% was short term. Why is this? My holding period was 1 day.... more »
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Wash Sale query
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Can someone help me with this question regarding the wash sale:
1) Scenario #1 :
Suppose I buy XYZ on 12/5/11 and sell it at a loss on 12/10/ 11.
I then buy XYZ on 12/12/11. My understanding is this is a wash sale and I can't deduct the loss, but I can add this amount to my cost basis.... more »
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confused about Sched. D
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I am confused about doing my Sched D (I use TT). I make about 150-200 stock/options trades each year. I log them on a spreadsheet. In many cases, I sell covered calls and the shares get called away. What I always do is reduce my cost by the option premiums.
When I did my taxes, I always wrote SEE ATTACHED and listed my total... more »
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Sun Tel: Tony Blair and the £8million tax 'mystery'
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Tony Blair and the £8million tax 'mystery'
Former Prime Minister Tony Blair channelled millions of pounds through
a complicated web of companies and paid just a fraction in tax, The
Sunday Telegraph can reveal.
By Robert Mendick, Chief Reporter
Sunday Telegraph
10:00PM GMT 07 Jan 2012
Official accounts show a company set up by Mr Blair to manage his... more »
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