Ask an Accountant: College Expense Deductions

Although tax season is over, tax questions arise year round. Momondealz's husband is an experienced accountant and will be answering questions sent to me at cjwtaxpro@gmail.com with the subject line “Ask an Accountant”. Question: My son is heading to college this year and I was wondering what exactly I can claim on my taxes next year as ...

Ask an Accountant: Business Expenses

Although tax season is over, tax questions arise year round. Mr. MomonDealz is an experienced accountant and will be answering questions sent to me at cjwtaxpro@gmail.com with the subject line “Ask an Accountant”. Question: I am in the process of registering the blog as a business and wanted to know if I am going to be able ...

Ask an Accountant: Donations purchased with coupons

Although tax season is over, tax questions arise year round. Mr. MomonDealz is an experienced accountant and will be answering questions sent to him at cjwtaxpro@gmail.com with the subject line “Ask an accountant”. Question: I donate from my stockplile quite frequently. When claiming these deductions, do I deduct what I paid out of pocket or what the items ...

Ask an Accountant

Although tax season is over, tax questions arise year round. Mr. MomonDealz  is an experienced accountant and will be answering questions sent to me at cjwtaxpro@gmail.com with the subject line "Ask an accountant". Question: In 2010 I won an all expense paid trip as a prize for winning a contest. The company immediately asked for my social security ...

Ask an Accountant

Thanks to Momondealz for bringing us this post each week! Although tax season is over, tax questions arise year round. My husband is an experienced accountant and will be answering questions sent to me at momondeals@yahoo.com Question: I have been audited for medical expenses for 2008 (my husband became very ill) and have close to 300 individual expenses. ...

Maude Cloth Diapers- There’s a “new kid” in town!

There are so many cloth diapers on the market today that it is sometimes hard to choose which one is best for your needs.  We have both (Brett & Jenni)  have tried our fair share of diapers and have concluded that pocket diapers are definitely the way to go.  However, within the pocket diaper category, there are ...

Ask an Accountant

Although tax season is over, tax questions arise year round. Mr. MomonDealz is an experienced accountant and will be answering questions sent to him at momondeals@yahoo.com Question: What type of accounting software is the best when setting up my small business? Answer: The most widespread software for accounting is Quickbooks. I personally recommend the online version. There are several different ...

Ask An Accountant

Thanks to Momondealz for bringing us this post each week! Although tax season is over, tax questions arise year round. My husband is an experienced accountant and will be answering questions sent to me at momondeals@yahoo.com Question: If you're late filing your taxes and the government owes you a refund, are you penalized? Answer: You will not be charged if ...

Ask an Accountant

Thanks to Momondealz for bringing us this informative post each week. Although tax season is over, tax questions arise year round. My husband is an experienced accountant and will be answering questions sent to me at momondeals@yahoo.com Question: Do I have to pay taxes on an item sent by a company to review? Answer: As far as products for review, ...

Ask an Accountant

Thanks to Momondealz for this informative post each week! Although tax season is over, tax questions arise year round. My husband is an experienced accountant and will be answering questions sent to me at momondeals@yahoo.com Question: What expenses can you not claim on your taxes? Answer: The items not deductible are expenses that would not be used to generate a ...