This week is full of birthdays – birth anniversaries, like that of my friends Lulu and Barbara…and an actual birth.
Yesterday morning, just before my visit with Brent Clanton on CNN in Houston, my neice sent us an announcement about the birth of her new baby girl. Lisa’s daughter is thin and long – 6 1/2 pounds and over 20 inches. It’s amazing to me that a mother, right after giving birth, can lay in her hospital bed and send out emails and messages to her entire community, no time at all after giving birth. What a magical world. And oh yes, her mom emailed a batch of photos to all family and friends within another could of hours.Wow! Are you loving the Internet? At times like this, I am.
Were you tuned into my visit with Brent? He’s on CNN every morning, along with Steven Kay. They stream the show online, so even if you’re not in Houston, you can tune in. We chat regularly, because he’s so tuned in to the issues facing small businesses, and struggling investors, like us. Besides, Brent and Kay are so funny – in a nice way. (aren’t you tired of mean humor?)
The Morning Show with Brent Clanton.
Meanwhile, this week we’ve been working on getting your new itaxmama application ready for your iphone. The current tax calendar is being updated. You’ll be able to download that free application before Christmas. And the paid app should be ready by then, too. That will let you customize the calendar, link to the forms, instructions and information, even add your own important dates – and set reminders! (Shhh…don’t tell anyone, but…you’ll even be able to put in reminders about your significant other’s birthday – or your mom’s.)
More about yesterday: The House of Representatives passed a bill to extend the current level of estate tax and the related exclusion from estate tax. It doesn’t mean anything until the Senate also votes on it. So stay tuned to my TaxWatch column in MarketWatch this month for the explanation of the new law and how it affects you. I can’t tell you how enthusiastic I am about this (anticipated) development.
Speaking of MarketWatch, in my column last month, I explore the tax implications (and other issues) related to Internet Gambling. Well, the adventure continues. First, Federal Reserve and Department of the Treasury extended the to the compliance date of the final Unlawful Internet Gambling Enforcement Act (UIGEA) regulations by to June 1, 2010, from December 1, 2009. So the banks don’t have to start rejecting your online winnings quite yet. Then the House Financial Services Committee devoted yesterday morning to discussing the ways to set guidelines for online gambling. Stay tuned, I’ll be following this story.
In IRS News this week the latest IRS mileage rates are revealed. They are effective January 1st, 2010.
In today’s Money Funny your ethics are tested. Try it. It’s fun!
In TaxQuips this week we learn whether you can fully deduct your car expenses if you stick a sign on it; if you have to report the sale of property you inherited; how a real estate agent should handle the costs of home warranties and other expenditures to help close a sale; and we help a couple of self-employed fellows who haven’t filed their tax returns since they went into business in 2006.
As always, we love your feedback, opinions and ideas.
You are what makes all this fun – and interesting!
Please use the Comments link online.
Hugs from your favorite TaxNerd,
Eva Rosenberg, EA
Your TaxMama is watching…out for you.
TAX CALENDAR 2009
12.15.2009 Employers Make monthly Payroll tax deposit
12.15.2009 Corporations – 4th Quarter Estimate Due
12.31.2009 Last Day to Open KEOGH account for 2009 deposits
01.15.2010 4th Estimated Payment for 2009 Due
01.15.2010 Employers Make monthly Payroll tax deposit
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- Ask TaxMama :: Where taxes are fun and answers are free
- www.TaxQuips.com :: The number ONE free tax podcast online
- Money Funnies :: An Ethical Dilemma
- IRS News :: 2010 Standard Mileage Rates
- Dr. Bryan Knight’s Special Self-Hypnosis ebook :: Money Fears – Lose them NOW!
- TaxMama’s MarketWatch.com Blog :: Internet Gambling issues