What an exciting week.
The Senate produced their version of the stimulus package. The House signed off on it. Now, it’s sitting on President Bush’s desk to pass into law. Once that happens, refunds should be heading your way in a couple of months. Perhaps in time for spring! (Or in time to pay your taxes?)
New concept in books – Subscribe to Tax Book!
Blake Warrington launched the new website www.HomeBusinessTaxCuts.com which bundles my new e-book The 100% Home-Based Business Tax Cut Solution with Bob Whitaker’s Tax MiniMiser. That’s a pretty ambitious title, isn’t it? Well, this e-book is going to earn its name. Whenever readers tell me anything is missing, I’ll add it to the e-book. And all who’ve subscribed to it will be able to download the COMPLETE new book, with all the additions, tax changes and updates until the end of each year. Naturally, to support all this work, you’ll need to renew your subscription each year – to get the new updates – and another years worth of Tax MiniMisers.
[Note to Tax Pros: This is a terrific tool for those clients who are always peppering you with questions, but don’t plan to pay for your time.]
So, we’ve had a major swoop of primary elections. Lots of good people have backed out of the race. The Republican Party is not happy with their front-runner. As a result, they will either back down and support McCain half-heartedly, or they will nominate their own choice at the Convention. Either way, this does not bode well for Republicans.
Democrats, on the other hand, have what appears (on the surface) to be a close race between Hillary Clinton and Barack Obama. (On the surface – because the Clintons have huge support among the Super Delegates.) Way back at the beginning I told you – if Hillary and Obama team up on one ticket – they will win the White House. (Whether this is a good result or not is not the point. It’s simply a reality.)
You’ll find lots more information about the presidential race at CNN’s Election Center http://www.cnn.com/ELECTION/2008/
MARKETWATCH has lots of coverage on the Stimulus package and more. See my summary of the high points of this week’s Tax Resource
Money Funnies this week includes a lesson in elocution – to help you get ready for your own Tax Laugh entry
TaxQuips this week covers student loans, injured spouse, AMT Twists, 10-year averaging – and compliance. You’ll also find terrific advice and clarification from the Pros!
IRS News is filled with goodies. You can hear IRS Theresa Branscome in an audio interview about new tools and features on the IRS website; an overview of tax law changes affecting 2007; learn what to do if you’re missing a W-2 or 1099.
Don’t forget the Cruise!
Join California NATP on the Recharge Your Battery Tax Cruise
You’ll find the details, reservation forms and even passport forms here
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 2008
02.15.2008 File new W-4 with Employer if you claimed exempt last year
02.17.2008 (My clients) Get Corp Data to me if you want to file without extension
02.29.2008 Mortgage Interest file Form 1098s with IRS
02.29.2008 File W-2’s with Social Security Admin
02.29.2008 File 1099’s with IRS
02.29.2008 File City of L.A. Business License/Tax Form
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Since it’s summer, and you’re probably going to be traveling with your family, consider getting matching T-shirts and/or hats.
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- Ask TaxMama :: Where taxes are fun and answers are free
- www.TaxQuips.com :: The number ONE free tax podcast online
- IRS News :: Missing W-2s and 1099s, overview 2007 tax law changes, updates and tools on IRS site
MarketWatch.com :: Tax Resource
- Money Funnies :: Elocution lesson and Tax Laugh contest
- Job Advice of the Week :: Take Charge of Your Annual Performance Review