The year is ending and a lot of changes have taken place in your tax life. There have probably been more legislative changes this year, than ever – and more are still being contemplated by Congress this month. In fact, there are two tax bills that have been passed by the House of Representatives, awaiting passage in the Senate. One relates to estate taxes; the other to extend some of the tax benefits we currently have, for one more year. Hopefully, these will get hashed out, revised and clear the Senate next week.
As a result, I am scheduling a workshop for you to update you on the high points of things you need to know for your 2009 tax returns.
TaxMama’s Last Minute Tax Workshop
December 21, 2009
11:00 am Pacific – for two hours. (CPE for EAs)
Note: My currently enrolled EA students will get an invitation to this workshop for free.
So will anyone who has purchased TaxMama’s e-book the 100% Home-Based Business Tax Solution.
Don’t miss this!
Chanukah starts tonight. It commemorates a time when the Maccabees, just a few people, overcame the odds to beat the well-equipped Seleucid Empire. After the victory, the Jews wanted to rededicate the Holy Temple, which had been defiled by the Greeks. There was only enough pure ritual olive oil to last one day. Miraculously, that one vial of oil lasted eight days – long enough to to press and purify more oil. And so we celebrate, and eat, and play Dreidel – a four-sided spinning top. The Hebrew letters on each side spell out the acronym for “Big Miracle Happened There”.
As little children, we used to sit on the floor and play for pennies. Or when there was no money, we would play for beans. We would sit there, laughing and squealing, under the flickering light of the menorah, immersed in the warmth and love of our families. Holidays like this are so much better when you have children around!
But, to get back to the point. The miracles. Especially the Maccabees. This small band of people rebelled against the Seleucid Empire, who had desecrated the Holy Temple and dedicated it to Zeus, trying to force the Jews to worship Greek gods. These few people got sufficiently incensed to take matters into their own hands to improve their own lives – and to take back control. No – I am not advocating a citizen’s revolt against the present government. (We already did that back in 1776.) What I am saying is, that, if you’re still waiting for the government to come along and fix your present financial problems, to help you get a job, to save your mortgage – forget it. It’s time to take control of your own life!
Remember, you will find ideas to help yourself and others you know at WeFoundASolution.com – and feel free to add your own ideas. We’re going to start adding more ideas for you this month.
Speaking of scams – or things to make your life difficult. People really do have too much time on their hands. Sigh. Here are two of the latest phishing spams coming across my email – American Express and Facebook.
In IRS News this week we learn all about barter. In this economy, barter is on the rise. After all, while we may not have money, since we’re unemployed, we may have time to contribute to the transaction. IRS is seeing this a major source of unreported income. Why? Because people often trade business products or services for personal products or services. This generates a taxable event. Naturally, since no money changed hands, people don’t realize there’s something to report. Heck, they often don’t even realize they are doing something as formal as bartering. You’ve got to report it! Beware.
In today’s Money Funny we get a lesson in bar stool economics.
In TaxQuips this week we learn about donating baby clothes, when many of them were gifts; how to report losses when your building was accidentally torn down by the city; whether newlyweds who maintain separate homes can file as head of household; and all about wash sales. We’ve had so many tax and financial professionals help out this week. I really want to thank you.
Special for Tax Professionals, I’ve started to post some tips on getting ready for tax season. There will be a couple more articles. The first one is in my AccountingWeb.com blog today.
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
SPECIAL GIFTS FROM TAXMAMA – FREE – REALLY!
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.
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
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.
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
(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!
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
But you can upload your own art and graphics and unify your family – even your pets.
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.
- Ask TaxMama :: Where taxes are fun and answers are free
- www.TaxQuips.com :: The number ONE free tax podcast online
- Money Funnies :: Bar Stool Economics
- IRS News :: All about Barter
- Dr. Bryan Knight’s Special Self-Hypnosis ebook :: Money Fears – Lose them NOW!
- TaxMama’s MarketWatch.com :: Internet Gambling issues