James Hamill / For the Journal, Author at Albuquerque Journal

James Hamill / For the Journal, Author at Albuquerque Journal

Tax basis is in question for now-former partner

Q: I have a partnership tax depreciation question. The accountant for a partnership that I used to b ...

Saturday, July 2nd, 2022 at 9:54AM

Home equity deduction question has plenty of what-ifs

Q: I need to borrow money. With the increase in the equity of my home due to the significant increases in the housing market, a home equity loan seems to...

Published: Sunday, June 26th, 2022 at 6:20PM
Updated: Sunday, June 26th, 2022 at 7:15PM

Lack of IRS resources leads to the easy way out

On the old "I Love Lucy" show, Lucille Ball and Desi Arnaz teamed with Bob Hope, part ow ...

Published: Monday, June 20th, 2022 at 12:02AM
Updated: Monday, June 20th, 2022 at 12:15AM

Investment tax treatment has come full circle

The tax law is used for many purposes. Chief among those is to raise revenue for government operations. But tax law also encourages or discourages certain behavior to achieve economic,...

Saturday, June 11th, 2022 at 8:27AM

IRS analysis good enough for government work

There is an old joke that involves three people who must answer a seemingly simple question: what is two plus two? The protagonist of the story is either a lawyer...

Published: Monday, June 6th, 2022 at 12:01AM
Updated: Monday, June 6th, 2022 at 12:15AM

Being a good CPA means being there in crisis

I grew up on the East Coast. When I moved to Tucson for graduate school, and later to Albuquerque, I was shocked by the lack of clouds in the sky....

Saturday, May 21st, 2022 at 8:26AM

Why ‘standard’ agreements never really work

One of the first issues a business owner must resolve is what entity type, if any, will be used to operate a business. Two of the more common types in...

Saturday, May 14th, 2022 at 8:45AM

Can we keep our son from cashing out his Roth?

Q: Our son is 18 years old and works part-time for a retail store. He should make between $10,000 and $12,000 this year. I believe it is true that he...

Saturday, May 7th, 2022 at 10:02AM

New audit structure too early for firm results

In 2015, Congress passed a law creating a new structure to handle partnership tax audits.

Saturday, April 30th, 2022 at 7:57AM

Home office tax deduction: Still around or not?

My son is an employee but his office has been closed for almost two years.

Saturday, April 23rd, 2022 at 6:45AM

1

UNM solar boat places 3rd in national contest

Students built boat, electric race car ... Students built boat, electric race car for event

July 4, 2022 1:02AM

2

Man gets 18 years in fatal beating

Anthony Lee Aragon pleaded guilty to ... Anthony Lee Aragon pleaded guilty to the 2019 robbery, killing

July 4, 2022 1:02AM

3

UNM awarded DOE funding for nuclear energy development

DOE goal is net-zero emissions by ... DOE goal is net-zero emissions by 2050

July 4, 2022 1:02AM

4

Freedom 4th back at Balloon Fiesta Park after two-year ...

Gates open at 3:30 p.m. for ... Gates open at 3:30 p.m. for the free celebration; park-and-ride services available at Coronado and Cottonwood malls

July 3, 2022 11:05PM

5

Speeding camera 'vandals' are another citizen's 'heroes'

Reader response mixed to last week's ... Reader response mixed to last week's incident

July 3, 2022 9:24PM

6

3 dead, 3 critically wounded in shooting at Denmark ...

A gunman opened fire inside a ... A gunman opened fire inside a busy shopping mall in the Danish capital Sunday, killing three people and critically wounding three others, police said. ...

July 3, 2022 8:22PM

7

'Stay tuned' for new evidence against Trump in July ...

More evidence is emerging in the ... More evidence is emerging in the House's Jan. 6 investigation that lends support to recent testimony that President Donald Trump wanted to join an ...

July 3, 2022 6:48PM

8

NM burger chain marks 70 years in business

Blake's Lotaburger will celebrate its 70th ... Blake's Lotaburger will celebrate its 70th birthday by hosting seven events at restaurants throughout the state on Saturday. Events will include deals like 70-cent ...

July 3, 2022 9:15AM

9

Voting machines tested before and after NM elections

Hand counts, machine tallies produce strikingly ... Hand counts, machine tallies produce strikingly similar results

July 3, 2022 1:05AM