Ask TaxMama Issue 601 Happy Memorial Day Weekend

Dear Family, 

This weekend is the Memorial Day Weekend. Speaking with TomBuck earlier this week, he tells me his community goes out to the cemetery to honor all the local war veterans, alive or dead. In a close-knit community, this is just one of the many instances when people connect. One of the nice things about smaller towns.

 What Tom said prompted me to see what’s going in the Los Angeles area. If you don’t already have plans, considering do a search to see what’s going on in your area. I found lots of interesting, fun, or somber activities within less than a 5-mile radius. And even more within 10 miles. 

Another thing I found is that the Queen Mary is offering free admission to veterans and active members of the armed forces. Excellent idea! I’ll bet there are many places offering free admission to current or former members of the armed forces all over the country. Considering how many returning servicemen and women are out of work, or under-employed, take advantage of these opportunities to take your families on a delightful outing. 

You’ve heard enough about taxes already so far this year. So, go and give yourself a break. We all need it.

Lower taxes, achieved ethically = higher profits and increased joy

Small Business Taxes Made Easy

The new, award-winning Small Business Taxes Made Easy is getting lots of attention.  Andrew collected some of the reviews and awards generated by this book. What a nice thing to do!

Today’s question for youThis week’s question for you – Are you better off with an office in home, or renting space for your business operations?

Read Chapter 7 of Small Business Taxes Made Easy for more details.

TaxMama’s EA Exam Review Class 

Vanita, who has several advanced degrees, told her mother this is the best class she’s ever taken! 

Do you want to know more about the IRS Special Enrollment Examination? Please replay Everything you Ever Wanted to Know about the EA Exam

There is still time to sign up for TaxMama’s EA Exam Review Course  This is the liveliest, most enthusiastic group of students ever. You’re going to love your study buddies! 

There is a Family Member discount of 10%. 

IRS Practice Series Continues 

The next session addresses the mysteries of IRS Penalties –

 Computing Or Recalculating IRS Assessments For Interest And Penalties   – Join us on June 7th

Remember to sign up for the whole IRS Practice Series. The 5 classes this summer will run from May through July. There’s a discount if you sign up for the whole series at once. 

Incidentally, if there is anything else you’d like to learn more about, please let me know. We’ll develop the classes for you.  

TaxMama Interviews

Adrienne Mitchell – MarketWatch radio
Nasty Surprise Awaits 401k Borrowers

Radio with Jim Blasingame, the Small Business Advocate

  •  How is an enrolled agent different from a CPA?  What is the roll of an enrolled agent? Eva Rosenberg joins Jim Blasingame to define “enrolled agent” and reveal how they serve clients with tax and financial services.
  •  The career of an enrolled agent (EA)  How can you make a career of being an enrolled agent? Eva Rosenberg joins Jim Blasingame to discuss how to become a professional enrolled agent (EA), what an EA does for his or her clients, plus the earnings potential of an EA.
  •  Two tax deductions to not overlook  What are some tax deductions and credits you can still get? Eva Rosenberg joins Jim Blasingame to report on the health care tax credit and the SEP IRA that you can still fund and deduct through the extension period.

TaxMama Writing:

AccountingWeb.com blog  – Face-to-Face vs Electronic Meetings  

This week’s MarketWatch article –  Nasty Surprise on 401K Loans

This week’s Equifax article is  – Skip the allowance and hire your child

This week’s Suze Orman article is – Helplessness Can Be Overcome

You can find daily TaxQuips into YouTube videos
http://www.youtube.com/taxmama1#p/u

A Week of TaxMama’s TaxQuips

We start the week with Bruce, whose business has failed. Should he file bankruptcy? Jack is proud of his son’s accomplishments. And now it’s time to face paying of those massive student loans. Jack wants tips on how to help, while tapping into his son’s investment acumen.  Doug and his buddies at work are getting two kinds of reimbursements for their business driving. How are they supposed to report that? We end the week with Susan who wants to know if the course she’s taking qualifies for the Lifetime Education Credit. Does it?

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

You are what makes all this fun – and interesting! 

Please use the Comments link online.

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Eva Rosenberg, EA

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TAX CALENDAR

http://taxmama.wpengine.com/tax-calendar-2011/

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06/15/2011 Individuals, Farmers & Fishermen Pay 2nd Quarter Estimated Tax Payment

06/15/2011 Corporations – 2nd Quarter Estimate Tax payment Due 

06/15/2011 Estates & Trusts 2nd Estimated Tax Payment

06/15/2011 Employers Make Monthly Payroll tax deposit on the 15th of each month

06/15/2011 US Taxpayers Overseas Individual Personal Returns due 

06/15/2011 US Taxpayers Overseas Claim Foreign Earned Income

06/30/2011 File Form TDF 90-22.1 – Report of Foreign Banks with $10,000 anytime during year

06/15/2011 US Individuals Overseas Personal Return Extensions due 

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From TaxMama® to You!

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SPECIAL DEALS

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 NOLO answers the question –

What can I do if my spouse gets into debt – do I owe his/her debts?

(disclosure – TaxMama receives a commission)

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EA EXAM NEWS & SOLVING THE TAX PUZZLE

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Take TaxMama®’s 2011 EA Exam Review Class

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 Sign up now – and join the FUN!

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 A flood of Tax Professionals are interested in taking the EA Exam. We still have a few handy dandy totes to hold all your books, notes and discs.

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Replay the session –  Everything You Wanted to Know About the EA Exam

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