TaxMama’s Tax Roundtable – March 18, 2010

Today’s topics included:

  • The new HIRE Act
  • The Homebuyers credit
  • Truck Drivers Tax Home
  • Ideas on how to get new clients
  • Dealing with banks who want letters you can’t give them – or can you?
  • Deductions for school teachers
  • Good places to network
  • Where to get good, inexpensive CPE
  • e-filing tax returns with foreign addresses

TaxMama’s Tax Roundtable is a monthly live discussion open to all TaxMama Family Members and above, and all TaxMama’s EA Exam and Solving the Tax Puzzle Students. Don’t you wish you were here?

You could be. Just join us.

The raw text chat file is below – and the raw audio file.

 – Jim Boyle says:

                Just from your update this morning

–          Eva – Your TaxMama says:

–          The new legislation passed by the house – CCH Summary

                http://tax.cchgroup.com/legislation/Hire-act.pdf

 – Rita Lewis says:

                we like clues

 – Eva – Your TaxMama says:

                http://tax.cchgroup.com/legislation/Hire-act.pdf

 – Rita Lewis says:

                any prohibitions re hiring relatives?

 – Eva – Your TaxMama says:

                good questions – what’s if an employer hires someone who is later audited – will they end up losing the benefits?

 – Toni McIntyre says:

                I suspect not, as long as they didn’t know.

 – Robert Bloemeke says:

                Hi

 – Toni McIntyre says:

                Like congress’s shock that there was fraud in 1st time home buyer,lol.

 – Robert Bloemeke says:

                No problem! Better late than never. I’m happy to be here.

 – Jim Boyle says:

                yes

 – Jim Boyle says:

                Just here to listen since I just signed up for the course

 – Jim Boyle says:

                I’ll surely will do that

 – Toni McIntyre says:

                How has business been for everyone?  I got desperate enough to work for HRB last year, based on promises that never happened.  So like starting over.  I advertise, pro-bono at SBDC & still few clients.

 – Rita Lewis says:

                just had a call from a probably 2009 client wanting a letter to her bank saying she did not file in 2007 and 2008.  I have no personal knowledge of that.  But at the time she was going through a divorce and is reluctant to call her ex’s accountant.  I can’t prove a negative!  What to tell her?

 – Eva – Your TaxMama says:

                Please don’t use the private to – please drop down the menu and use the blank space to post your notes

 – Rita Lewis says:

                Wells Fargo has that and said it’s not enough!

 – Toni McIntyre says:

                Have her talk to a supervisor.

 – Rita Lewis says:

                wants her accountant to tell them, i wasn’t her preparer then

 – Rita Lewis says:

                i like the supervisor

 – Rita Lewis says:

                idea

 – Rita Lewis says:

                going to tell her that

–          Eva – Your TaxMama says:

Consider writing a letter that says, you were not her preparer (obviously, no one was), but based on the attached correspondence/printout from IRS, it’s apparent that no federal tax returns were filed for those years.

 – Rita Lewis says:

                good idea

 – Robert Bloemeke says:

                I have a question about e-filing from abroad. I signed up for an account with www.freefilefillableforms.com , to see what their service was like. But I saw that they do not allow e-filing for anybody with a foreign address. Is this a problem in general for foreign taxpayers? Is it even possible for expatriate taxpayers to e-file?

 – Rita Lewis says:

                tell your clients that you have openings and would they please refer you to their friends

 – Rita Lewis says:

                tell everyone you bump into what you do

 – Toni McIntyre says:

                Audits, my favorite work.  My old job is now open.  Almost desperate enough to go back to the dark side.

 – Rita Lewis says:

                ProSystem fx has a foreign address field, but I don’t have any clients overseas

 – Eva – Your TaxMama says:

                yes

 – Eva – Your TaxMama says:

                for the public, not tax pros, right?

 – Toni McIntyre says:

                Thanks

 – Toni McIntyre says:

                It has been just over that.  Left 1-05.

 – Toni McIntyre says:

                I’m so happy you brought this back & look forward to next time.

 – Scott Shifley says:

                like this?

 – Rita Lewis says:

                once you have a teacher client, ask them for referrals, hand them lots of your biz cards

 – Scott Shifley says:

                I am already a teacher & I posted to our school system’s web page classified

 – Toni McIntyre says:

                Good idea.

 – Rita Lewis says:

                volunteer as treasurer for your PTO

 – Toni McIntyre says:

                Any experience with BNI.

 – Rita Lewis says:

                 but people view you as the money person and think of you when they think of taxes, especially if you file the org’s 990

 – Scott Shifley says:

                Our school nurse has already said she wants to use me for her preparer, this was before I told her I was going for EA

 – Toni McIntyre says:

                Business Network International.  Meets weekly & cost $500 yearly & meals.

 – Rita Lewis says:

                offer to speak at faculty meetings re educator deductions

 – Eva – Your TaxMama says:

                teachers – unreimb employee business expenses – union dues, school supplies

 – Rita Lewis says:

                they might put an info flyer in with pay stubs

 – Toni McIntyre says:

                Will you be attending NATP national this year?

 – Scott Shifley says:

                unreimb employee business expenses- I have included milage to the Office Depot for the supplies

 – Toni McIntyre says:

                Scott, be sure from school, if from home commuting

 – Toni McIntyre says:

                To protect in case of audit for any teacher expenses get a letter from the school indicating the requirement to incur the expeses.

 – Jim Boyle says:

                I have to go guys.  This was great,, thanks!  I’ll have my mic next time for sure.

 – Rita Lewis says:

                My hubby’s a teacher too, and they spend a lot

 – Eva – Your TaxMama says:

                just get it all in writing

 – Toni McIntyre says:

                Again get a good statement from school.  Without the vague statement much will likley be disallowed.  When I was an employee I spent my money on thing that made my job easier or other reason but not required so not ordinary and necessary.

 – Eva – Your TaxMama says:

                wording teachers – based on their best judgment of the students educational needs

 – Eva – Your TaxMama says:

                ooohhhh hand sanitizers

 – Scott Shifley says:

                the students consider tissues & Hand Sant an entitlement

 – Robert Bloemeke says:

                I haven’t thought about CE yet since it wasn’t necessary till  now (I just passed the EA exam a couple of weeks ago) so I’ve got to think about it. But traveling back to the US for the IRS conventions is quite expensive just for CE. Any suggestions for good quality correspondence-course instruction at reasonable rates?

 – Rita Lewis says:

                lots of good on line courses

 – Toni McIntyre says:

                Try to find live online so you don’t have to take test.

 – Rita Lewis says:

                 Multiple-day forums can cover most of your requirement in one trip back to the states if you schedule

 – Rita Lewis says:

                CCH offers many on line courses

 – Robert Bloemeke says:

                It’s also tortuous riding in those tiny seats. Thanks for all the suggestions!

 – Eva – Your TaxMama says:

                yes, unless you can fly first class who wants to fly

 – Scott Shifley says:

                we will be able to see a transcript for this, I presume?

 – Rita Lewis says:

                there may be an AICPA chapter in Japan…

 – Rita Lewis says:

                offering courses

 – Eva – Your TaxMama says:

                cpe sources available:

 – Eva – Your TaxMama says:

                taxmama’s Solving the Tax Puzzle  – http://irsexams.com/learn-tax/

 – Eva – Your TaxMama says:

                CPE Link

 – Eva – Your TaxMama says:

                Smart Pros

 – Eva – Your TaxMama says:

                CCH

 – Eva – Your TaxMama says:

                IRS

 – Eva – Your TaxMama says:

                NATP

 – Eva – Your TaxMama says:

                NAEA

 – Robert Bloemeke says:

                Thanks, Eva, and everybody who gave suggestions.

 – Scott Shifley says:

                I have to go get my dog from grooming, nondeductible I’m Afraid

 – Toni McIntyre says:

                No, I look forward to next month.

 – Scott Shifley says:

                Mee too

 – Rita Lewis says:

                Thanx to Eva and to everyone

 – Robert Bloemeke says:

                I’ll try to be here too!

 – Robert Bloemeke says:

                Good night everybody!

 – Eva – Your TaxMama says:

                Bye – and thanks!

 – Scott Shifley says:

                I will probably be teaching class , but I will try

2 thoughts on “TaxMama’s Tax Roundtable – March 18, 2010

  1. Rhonda says:

    Thanks Eva for posting this so quickly today! I had a client appointment scheduled this morning before checking out the March date for these roundtable discussions. From here on, tho; these mornings are booked off. Lots of great stuff here! First hand congress updates, new ways to create business, and super colleagues sharing their expertise! All for us and our clients – Wow! Thank you for what you do.
    Rhonda

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