Dear Family, During our class last night, a couple of major things went on in the world. A big chunk of Southern California and San Diego lost electricity. The nuclear power plant at San Onofre was shut down (safely). Meanwhile a student in Texas tells me she just managed to get back into her […]
Dear Family, Happy April Fool’s Day! This morning I read a CNN story about a family with a $54,000 tax refund. The H&R Block office was apparently so surprised that they repeatedly recomputed the tax return to see if there was a mistake. There wasn’t. And this is not an April Fool’s Prank! It turns […]
Exciting news. Monday is the filing deadline for all corporate tax returns. There are no more extensions. Have you completed yours? Monday is also the due date for all personal and corporate estimated tax payments.
Were you tuned in to Jim Blasingame’s radio show this morning?
Aside from having me on, talking about Monday’s filing deadline for corporate returns – he interviewed Jordon Goodman, author of Fast Profits In Hard Times. What caught my attention is something new Jordon brought up that might be available from some major home mortgage lenders. (I have to go back and listen to the recording of the show to get this right, but…) He said that you can pay off your mortgage substantially faster by opening a bank account with the bank that holds your mortgage. The lender credits your mortgage with the earnings on the daily balance (float) in your bank account and applies it to the principal of your loan. I’m not sure how it works, or which banks offer this option. But you can replay this morning’s interview and find out.
(Naturally, if you need some tips and reminders about filing your corporate return by Monday, listen to my discussion with Jim, too.)
Incidentally, if you feel you’re having trouble paying your taxes, consider reading Donald Jay Korn’s new murder mystery, Payable on Death. It’s about an investment advisor who just gets in over his head, trying to keep clients out of trouble. (Look for a more detailed review of the book at Amazon next week.) I must tell you though, when I got the book, I read it in about a day. Couldn’t put it down.
Payable on Death
Since this is Shameless Promotion Month, I suppose I’m obligated to promote myself – shamelessly. So let’s see what’s going on this month, OK. Let me just give you the highlights here. You can read the details on the site.
1) Join me at NATP California’s Annual Conference and Meeting.
2) The live class for the EA Exam Review is wrapping up. Join us for the Self-Study Course.
3)I will be recording a video series of tips for small businesses in October for a powerful and fascinating small business site to launch next year. (links to come)
And TaxMama® has lots more exciting things going on.
Our Job Advice of the Week suggests that you research your interviewer. What a great idea!
Today’s Money Funny will make you laugh as you creak along, when you think about what it would be like if your body were a car.
(Could some YOUNG people please send me jokes! We’re getting a little geriatric here lately.)
Today’s IRS News brings you an explanation of the Stimulu Check system by David Mellem, EA. It addresses how late you can file and still get the Stimulus Check. And whether amended returns affect your Stimulus Check. And lots more….
TaxQuips this week covered some unusual topics. We got to speed up depreciation deductions by using cost segregation. You learned a big secret about how to use Self-Directed IRAs, which not only helps you earn real money in your retirement account – but lets you draw all the earnings tax-free when you retire….if you set it up as a Roth 401(k). You learned about merchant marines double-dipping for deductions – and about a tax firm put out of business for doing that. And of course, about new LLCs, and bank accounts.
As always, we love your feedback, opinions and ideas.
You are what makes all this fun – and interesting!
Please use the Comments link online.
And remember, when you buy any TaxNerd item, TaxMama will donate all the profits to the Central Asia Institute, where they are building schools for girls in Asia. The best way to achieve peace to earn the love and trust of people around the world by helping them improve their own lives.
Hugs from your favorite TaxNerd,
Eva Rosenberg, EA
Your TaxMama is watching…out for you.
TAX CALENDAR 2008
08.15.2008 Employers Make monthly Payroll tax deposit
09.15.2008 Employers Make monthly Payroll tax deposit
09.15.2008 Corporate Returns Due- FINAL DEADLINE
09.15.2008 3rd 2008 Estimated Payment – all entities Due
09.30.2008 Last day to establish SIMPLE plans
SPECIAL GIFTS FROM TAXMAMA – FREE – REALLY!
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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.
(DO NOT PUT ANYONE’S NAME ON THEM – you’re just asking strangers to kidnap your children!)
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Cafe Press is the home of TaxMama’s shops
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Wouldn’t you love to get your logo or family crest, or picture or whatever, EMBROIDERED on hats and T-Shirts?
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