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Transferring an IRA Triggered 10% Penalty
Courtesy of David & Mary Mellem, EAs We’re not talking about a normal transfer of an IRA here. We are talking about a taxpayer who transfers an IRA from which the taxpayer was taking substantial...
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TaxMama’s® Tax Optimization Secrets
[This Special Report is only for TaxMama Family Members and Prime Members. It is a transcript of a special session just for members of Alex Mandossian’s courses.] By Eva Rosenberg, MBA, EA WHY is tax...
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Ten Tips for Taxpayers Contributing to an Individual Retirement Plan
If you haven’t made all the contributions to your traditional Individual Retirement Arrangement that you want to make – don’t worry, you may still have time. Here are the top 10 things the Internal...
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Investment Tools and Tips
Today TaxMama wants to speak to you about how to gain a better understanding of your investments, and money – and perhaps their relationship to your taxes. Dear Family, My first tip is for the...
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Real Estate Dealer
Today TaxMama hears from David in the TaxQuips Forum, who defines a dealer in real estate as someone who sells a single property for profit, as long as the intent to act as a dealer to real estate is...
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Investing Through A Friend
Today TaxMama hears from Brent in the TaxQuips Forum, with an exciting opportunity. “I have been approached by a friend I trust (personally, not on the fine points of tax law) about investing in a...
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Lost Down Payment
Today TaxMama hears from Somsak in the TaxQuips Forum, who is hurting, badly. “In 2005 I signed a contract to purchase 2 units in a pre-construction CondoTel in Orlando, Florida. I submitted a 20% down...
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Pay Off or Refi?
Today TaxMama hears from Tom in the TaxQuips Forum with an interesting problem. “I have a $270,000 mortgage on my primary home. It is a 30-year loan at 5 3/8% fixed. My home is worth substantially...
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Mutual Fund Fees
Today TaxMama® hears from Farmer in the TaxQuips Forum, with a reasonable question. “Can you take a deduction of Mutual Fund operating expenses (12b fees?) on Schedule A, subject to the two-percent...
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Asking After the Fact
Today TaxMama® hears from several people in the TaxQuips Forum, with questions asked too late. Here are some questions that should have been asked before you entered into your financial transactions –...
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