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NAEA TOP 6 TAX MYTHS


Lee B

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31. I am paying child support, can I claim my children if they live with the mother? Do I get any credit for all that money I am paying? I usually say "no, because that money is not for your children, it is for Carmelo"

 

I am going to start using another phrase "No because you are not biological father of those children".

 

It really pisses me off because even the hair stylist tells them that child support is not deductible and yet they still ask you that question.

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31. I am paying child support, can I claim my children if they live with the mother? Do I get any credit for all that money I am paying? I usually say "no, because that money is not for your children, it is for Carmelo"

 

I am going to start using another phrase "No because you are not biological father of those children".

 

It really pisses me off because even the hair stylist tells them that child support is not deductible and yet they still ask you that question.

 

If the baby daddy find out he is also supporting Carmelo, he is going to want to put him as a dependent to.

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Someone asked me to give you a translation for Carmelo. By the way Carmelo is a popular word in Spanish and everybody knows the meaning. I will do my best:

 

Carmelo is the lover of the wife while she is married. After the husband finds out the affair, they get separated. The husband pays child support and Carmelo is the one that spends the child support money on his needs.

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n) I'll just drop off my taxes on April 15th and they'll get done that day, right?

 

n+1) {in the middle of tax season} I need you to file my last 6 years of taxes. Can you do that in a couple of hours? I've gotta get to Florida tomorrow.

 

n+2) I need my {current year minus 8-12 years} taxes. Just pull me a copy, including all my W-2s and 1099s.

 

n+3) I know it's a capital gain, but there must be some way you can get me out of paying taxes on it.

 

I swear, I feel like socking these people right in the nose when they pull this crap on us.

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32.  I don't remember getting all that money (in reply to 1099, K-1, etc)

 

Was doing four years in arrears for a client last year.  I had the transcripts from the IRS.  2011 showed a 1099-R distribution of 30,000.  He SWORE that he never withdrew that much money.  Had me do the other three years and go back to 2011 after he did some investigating.  Said it had to be a mistake that his broker had made.  Guess what!  In the end, there it was plainly deposited into his checking account in 2011.  I hope he stays current this year because he didn't come out of that as badly as he expected. 

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