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Tax Answers

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BUSINESS
April 8, 1994
Here are answers from members of the Maryland Association of Certified Public Accountants to readers' tax questions. The Sun will publish answers through April 15.Q: My daughter was married July 10. Can I claim her as an exemption half the time or full time for 1993?A: Probably not. The IRS does not allow partial year deductions. The only way you can claim a married child as a dependent is if the child does not file a joint return and otherwise qualifies as a dependent. But, if your daughter and her husband do file a joint return but aren't required to (e.g.
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NEWS
June 21, 2012
Letter writer Vikki Volk comments that "three extra cents per soda hardly seems like a lot to pay" for better school buildings ("Bottle tax is a small price to pay for better schools," June 20). All I can say to Ms. Volk is what about the state lottery, the millionaire's tax, the increase in the state sales tax, the higher sales tax on alcoholic beverages, and the boost in the income tax rates or the talk of a higher gas tax, all by state and local government in recent years with similar justification?
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BUSINESS
By Eileen Ambrose | March 31, 2011
Hey folks, remember that we will have a live chat at noon on the blog with Mark Steber, chief tax officer with Jackson Hewitt Tax Service. So if you’re not sure whether you qualify for a deduction or stymied by some IRS lingo, now’s the chance to ask your questions and get answers from a pro. See you at noon!   Live chat: Income tax Q-and-A
BUSINESS
By Todd Beamon and Todd Beamon,Baltimoresun.com Staff | March 31, 2004
Each Wednesday through April 21, baltimoresun.com's tax experts will answer your questions this tax-filing season. Our experts are Jim Dupree of the Maryland office of the Internal Revenue Service in Baltimore and, this week, Gregory S. Horning of Stout, Causey & Horning in Hunt Valley. To be included next week, please use the form at the right side of this page to submit your questions. My wife, my son and I live in Baltimore. My wife had a job in Baltimore; I worked in Newark, Del., all of last year.
BUSINESS
By Todd Beamon and Todd Beamon,Baltimoresun.com Staff | March 24, 2004
Each Wednesday through April 21, baltimoresun.com's tax experts will answer your questions this tax-filing season. Our experts are Jim Dupree of the Maryland office of the Internal Revenue Service in Baltimore and, this week, Nicole M. Harrell, head of her own accounting firm in Baltimore. To be included next week, please use the form at the right side of this page to submit your questions. For tax year 2002, I overfinanced my Roth IRA. I withdrew the overfunded amount, $1,800, in February 2002, claiming it as a distribution on my 2002 return (without a 1099)
BUSINESS
By Todd Beamon and Todd Beamon,Baltimoresun.com Staff | March 10, 2004
Each Wednesday through April 21, baltimoresun.com's tax experts will answer your questions this tax-filing season. Our experts are Jim Dupree of the Maryland office of the Internal Revenue Service in Baltimore and, this week, Nicole M. Harrell, head of her own accounting firm in Baltimore. To be included next week, please use the form at the right side of this page to submit your questions. I sold my home, my primary residence, in 2003 and qualified to ignore the gain on the sale for tax purposes.
BUSINESS
By Todd Beamon and Todd Beamon,Baltimoresun.com Staff | March 3, 2004
Every Wednesday through April 21, baltimoresun.com's tax experts will answer your questions this tax-filing season. Our experts are Jim Dupree of the Maryland office of the Internal Revenue Service in Baltimore and, this week, Gregory S. Horning of Stout, Causey & Horning in Hunt Valley. To be included next week, please use the form at the right side of this page to submit your questions. I am a full-time employee at a local company. I also am a real estate agent, which is considered an independent contractor.
BUSINESS
March 4, 1995
Members of the Maryland Association of Certified Public Accountants are answering readers' tax questions through April 15.Q: I make estimated payments to the state and last year made a payment in January for 1993 taxes. Then I credited my 1993 state tax refund toward 1994 payments, and that got me through two quarters. I sent a check in September for the third payment and one in January 1995 for the fourth. Which payments can I claim on my 1994 U.S. return? Also how do I figure out how much of my 1993 state refund is taxable?
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