Ask TaxMama Issue 487 – MLK and New President

Happy Martin Luther King weekend

Dear Family,

This is a long weekend, at least for Federal employees and schools, due to the Martin Luther King, Jr. celebration. Ironically, this is also when the festivies are starting for the inauguration of a new president, a tangible manifestation of Reverend King’s dreams.

Interestingly enough, from the time Barack Obama came on the scene as a candidate for president, he just made the whole process look so easy. He steamrolled his way through Internet, attracting students and lots of Twittering and Facebook chatter, until he easily became the most visible and talked about candidate. His campaign will be a case study for years to come.

Now, getting ready to be sworn in as the newest leader of the free world, President-Elect Obama has laid strong groundwork to put a cabinet and key staff members in place so he can take off running from the moment he is sworn in. You may not agree with or approve of his choices. But as Bush said in his Farewell Speech yesterday, Obama ‘made the choices’ – and quickly.

Although I was wary during the campaign, I am getting very encouraged by the nature of the activity I am seeing. Don’t expect Obama to fix everything overnight – or even in two terms of office. The country, our economy – and the world’s economy – are too damaged for that. But DO expect to see steady, and healthy progress.

As to our exiting president, George W. Bush, this is the most graceful, cooperative, and civilized transition I can remember seeing in decades. Kudos to Citizen Bush.

Let’s start IRS News out with a warning:
WARNING – beware of ANY e-mails that seem to come from IRS, especially about your Stimulus Rebate. I just got something this morning with the subject line: A Stimulus Refund for you. The sender is “Internal Revenue Service”. Do NOT get taken in. IRS does not send out message like this.

In fact, when it comes to anything from a bank, Paypal, IRS, credit agencies, etc., even if you subscribe to their service, avoid using the link in the e-mail. Enter the correct URL directly into your browser to avoid entering your username and password into a site designed to steal your identity. It’s easy to get taken in. They often do a good job stealing and copying the site’s graphics.

Over 3500 areas of tax law were changed in the last 4 years. Do you REALLY want to be doing your own tax return? OK, if you really do – you can do it for practically nothing here.

Or file for free from the IRS site. But if you need a tax professional and don’t know how to select one – read TaxMama TaxWatch column in MarketWatch.com this week.
http://snurl.com/preparer-tax.

Andrea Coombes provides a summary of the proposed Stimulus Package, Kay Bell provides 8 steps to take right now. Tom Herman provides good news – no kidding!
http://www.marketwatch.com/personalfinance/taxes

In today’s IRS News David and Mary Mellem, EAs provide insight into how the First-Time Homebuyer’s Credit works if the buyers of the home are not related by blood or marriage (for Federal purposes).

http://taxquips.com/index.php?cat=IRSNews

Just a reminder, if you’re having trouble meeting your IRS installment agreements, Commissioner Doug Shulman has instructor all IRS assistors to help you and give you some leeway. But you have to CALL. Don’t just ignore the problem and hope it will go away.

Today’s Money Funny asks some very important questions. Do you know the answers?

http://taxquips.com/index.php?cat=MoneyFunnies

In TaxQuips this week, we learn what isn’t considered sales tax in Florida, whether being on title to Mom’s home will cost you your First-Time Homebuyer’s Credit, whether you can claim your girlfriend (or boyfriend) on your tax return, and whether you can get your full personal residence exclusion if you sell two homes.
http://taxquips.com/index.php?cat=TaxQuips

Oh, I just got a notice about a really special deal. I’ve told you about Queensboro before. That’s where I get really good prices on clothing and briefcases and other goodies with my logo embroidered on them. They are having a special sale until January 20th with 33% off. They don’t charge you for the set-up of your artwork – and you only need to get 4 items (they can be all different things, and sizes.)
http://www.queensboro.com

As always, we love your feedback, opinions and ideas.

You are what makes all this fun – and interesting!

Please use the Comments link online.
http://taxquips.com/index.php?id=1082

TaxNerd gear makes a bold statement during tax season.

Shop at www.taxnerd.net or http://www.zazzle.com/taxmama*

Hugs from your favorite TaxNerd,

Eva Rosenberg, EA

Your TaxMama is watching…out for you.

www.TaxMama.com

www.TaxQuips.com
www.IRSExam.com
www.taxnerd.net
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TAX CALENDAR 2009
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01.02.2009 File Form 2290 – Heavy Highway Vehicles

01.15.2009 4th Estimated Payment Due

Farmers and fishermen. Estimated tax for 2008 Due

01.15.2009 Employers Make Monthly Payroll tax deposit

01.31.2009 Furnish W-2s/1099/1098s to recipients

01.31.2009 File Quarterly/Annual Payroll/Sales Tax Returns

01.31.2009 Individuals – Filing personal return and pay all taxes

Without Penalty if January 15, 2009 estimated payment missed
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SPECIAL GIFTS FROM TAXMAMA – FREE – REALLY!
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Keep your Resolutions:
Here’s a well-thought-out e-book to help you start the
year off properly. It contains a place for you to
list your promises to yourself – and lots of tools to

help you achieve your goals.

Download the book here (just use your e-mail address in this e-mail, so you can avoid subscribing to
my newsletters twice.)

Feel free to share this link with your friends, your clients and your mailing list.
http://www.simpleology.com/p/blogging/taxmama/ATM440
Explore Simpleology 101 – It includes set of step-by-step daily missions for you to follow to get more focused and become more successful this year.
You can check them off as you go.

Audio and Video Training
Is 2009 the year you learn to put use audio and video
on your websites or online? Here are some excellent
no-cost training opportunities. All you need is time.
Join David at AudioAcrobat.com

Join SuccessNet.org for free and learn the 10 Essential Success Keys You Need to Know for You
And Your Business to Grow
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GIFT IDEAS
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ThinkGeek has some wonderful, unusual stuff, including something very like a Dick Tracy watch – a touchscreen cell phone PDA watch. They also have the USB Memory watch that holds 2GB of data.

Open your own Zazzle account and create personalized

gifts to your family and friends.
You don’t need to use my designs – use your own photos and artwork.
http://www.zazzle.com/taxmama*
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SPECIAL DEALS
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Need a Corp, LLC, Registered Agent

Incorp Services Inc. in Nevada – DISCOUNT

20% off on formation services.
Similar discounts on Registered Agent services.
Call 800.2.INCORP – use coupon code – TAXMAMA – or
http://go.asktaxmama.com/incorp

(no code needed)

Customised Personal or Businesswear – 3 Choices:

Zazzle – Cafe Press – Queensboro

It costs much less than you think to be creative, and to develop your own look and identity.

Use your art or others – and customize it

Zazzle your Imagination. Are you a TaxNerd?
Tell everyone – proudly!
http://www.zazzle.com/taxmama*

Create your own customized Zazzle Apparel, bags or more.

Get volume discounts on orders of 2 or more.

Get extra discounts for yourself and friends after you order.

Stuff for business, travel and fun

Cafe Press is the home of TaxMama’s shops
http://www.cafepress.com/taxmama

But you can upload your own art and graphics and unify your family – even your pets.

http://www.cafepress.com/

Get extra discounts for yourself and friends after you order.

WOW DEAL! Embroidery

Wouldn’t you love to get your logo or family crest, or picture or whatever, EMBROIDERED on hats and T-Shirts?

Well, it costs a heck of a lot less than you think.
And there’s always a sale!

At the Queensboro Shirt Company

(They have a lot more than shirts – and all sizes)
They do a gorgeous job.

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