Waaay back in my distant childhood memory, there was a TV series called Sky King. Do you remember it? It was western with a cowboy using an airplane. The show stands out in my mind because back in the 50s, long before Women’s Lib, one of the characters was a teen-aged girl – who could do anything. She didn’t simper and wait to be saved. She took charge, solved problems and even flew the plane. Even today, you’ll find the episodes hold up well.
Back to taxes. Finally, the California legislature passed a budget bill. Governor Schwarzenneger will not be vetoing it. You’ll find the details of the tax provisions in today’s IRS News.
The terrible thing about this excessively long budget delay is the damage to businesses and non-profit organizations whose job it is to help people with rents, food, child care, medical care and more. Since California withheld funds (no budget) for so long – some of them went beyond their borrowing limits and may have had to close their doors. Remember, just because a budget has been passed doesn’t mean checks will be issued today. It may take weeks to get funds distributed. The Legislature warns that this will happen again next year. Why? Why can’t they start the process early enough to meet the deadline? And why can’t they stop politicizing the budget so they can come to an agreement about the provisions without running more than two months late?
Wouldn’t it be terrific if, next year if they run late again, they should have to live with the poorest people in their communities for two months, living ONLY on the income available to those people during those same two months. That might just make this less theoretical for our lawmakers. There have been judges who’ve sentenced slumlords to do that. Just a thought…
(Uh oh, are our squirrels getting way too fat? Something really heavy is running around on my roof. They think it’s their superhighway to the street and other neighbors. Sheesh, they must be getting way too many nuts and oranges and apricots in the neighborhood!)
Since this is Shameless Promotion Month, let me tell you more about my latest activities. Aside from the two sessions I’m teaching for NATP-CA at Knotts Berry Farm next week, http://taxquips.com/index.php?cat=TaxEducation (join us!)…
I am recording a one-hour discussion about tax issues for someone contemplating going into business (today), and two video courses for The Learning Annex (this month). You’re going to like these! For more details… and to see what else TaxMama® has going on.
Our Job Advice of the Week suggests that you grab the decision maker’s attention.
In today’s Money Funny you’ll learn how a discerning mother ensures her daughter’s future.
Today’s IRS News teaches you how to fix the IRS (yes you can!). We also bring you a summary of the tax changes in the new California budget, courtesy of Spidell Publishing Inc.
TaxQuips this week gives us season-end filing statistics, talks about red flags. We discuss tax bankruptcy and if it’s worth it for $2700? Learn about a free resource to help you value your non-cash donations. And end the week being introduced to QDROs and safe investment ideas.
As always, we love your feedback, opinions and ideas.
You are what makes all this fun – and interesting!
Please use the Comments link online.
And remember, when you buy any TaxNerd item, TaxMama will donate all the profits to the Central Asia Institute, where they are building schools for girls in Asia. The best way to achieve peace to earn the love and trust of people around the world by helping them improve their own lives.
Hugs from your favorite TaxNerd,
Eva Rosenberg, EA
Your TaxMama is watching…out for you.
TAX CALENDAR 2008
09.15.2008 3rd 2008 Estimated Payment – all entities Due
09.30.2008 Last day to establish SIMPLE plans
10.15.2008 Personal and Partnership Returns – FINAL DEADLINE
10.15.2008 Employers Make monthly Payroll tax deposit
10.31.2008 3rd Quarter Payroll Taxes Due
10.31.2008 3rd Quarter Sales Taxes Due
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- Ask TaxMama :: Where taxes are fun and answers are free
www.TaxQuips.com :: The number ONE free tax podcast online
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