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Author Archives: Peter G. Robbins, CPA

Talking tax: When can I take money out of my IRA?

Q: I will celebrate my 70th birthday in August and know the time is drawing near that I will be able to take money out of my IRA. But I am a bit confused as to whether I should start ...

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Talking Tax: Do I have to amend my return?

Q: I didn’t file my tax return until early April because all my 1099’s and other tax documents didn’t arrive until very late. And then, two days after filing my return I received a corrected 1099 from my investment advisor. ...

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Talking Tax: How long do we have to keep these receipts?

Q: We purchased a new home in 2013 and understand that we should be OK in regards to capital gains taxes on the sale of our old home. We also, however, sold a lot in a separate location that we ...

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Online sellers may need to collect sales tax (access required)

Q: I have an online retail business. Should I be collecting sales tax from customers who live in different parts of the country? A: This is a great question and a very timely one. Just the other day one of ...

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Most sales of primary residences are tax-free (access required)

Q: Now that the Idaho real estate market has recovered a bit, we are considering selling our home and buying a bigger house for our growing family. One friend told me I don’t have to pay any tax on the ...

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Tips for keeping your financial information secure (access required)

It’s tax time! And along with tax returns and e-filing and W-2s and 1099s, we also have to be worried about all those rascals that want to get hold of your name, Social Security number, and other personal information to ...

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Yes, you do have to pay tax on those Amazon purchases (access required)

Q: I noticed the Idaho tax forms have a line for “Sales/Use tax due on nontaxed purchases (Internet, mail order, and other).” I am not sure how this applies to me and I never heard of “use tax.” Can you ...

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Oil and gas investments come with specific tax ramifications (access required)

Q: I have a friend who swears by his investments in oil and gas. He is trying to get me to invest also, but to be honest I really don’t understand this business. I’ve always heard I should not invest ...

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