Treasury and IRS Announce That All Legal Same-Sex Marriages Will Be Recognized For Federal Tax Purposes; Ruling Provides Certainty, Benefits and Protections Under Federal Tax Law for Same-Sex Married Couples WASHINGTON — The U.S. Department of the Treasury and the Internal Revenue Service (IRS) today ruled that same-sex couples, legally married in jurisdictions that recognize […]
Lots of people are taking off early and getting ready for 4th of July in advance. Others are taking a long weekend next week – including my Lulu. Can you imagine – she’s off to a beach party for the 4th of July in a nice secluded cove. It actually looks really nifty. They seem […]
Here are a couple of tax-related court cases you might find interesting. Attorney Ronald Marini writes about a very recent Supreme Court decision that limits IRS’ audit powers in a way you’ll like. The IRS is limited to three years to audit you or your business when it comes to determining the basis of anything […]
Dear Family, Happy Passover. Still a couple of days left. Are you craving bread yet? Getting ready for the traditional pizza frenzy after the holiday is over. Soon. Soon. Meanwhile, get your tax questions answered – live. Call us this morning – TaxMama and Bob McCormick on his Money 101 show on KFWB Los Angeles. […]
Today TaxMama wants to discuss a tax issue that will affect tax preparers, certain taxpayers – and perhaps your friends and relatives around the country. Same-Sex marriage. Please don’t turn away because the topic is odious to you. You probably know someone affected – and may be able to help them.
Dear Family, Today’s theme was not planned. By coincindence, the very first two stories I researched this morning are about Orthodox Jewish experiences. In case you didn’t know, I was brought up in that community, attending full-time Hebrew or Jewish schools from nursery school all the way back in Hungary to an early admission to […]
Dear Family, Every summer around this time, states all over America offer special tax-free days. These are weeks or weekends when families can buy their back-to-school supplies, and certain other needed merchandise, without having to pay sales taxes. Clicking on today’s graphic will take you to the national list. Just look for your states. On […]
I’m grouchy this morning. Do you ever have those days when things just annoy you? Well, this is leftover from yesterday. A client who urgently needs my help to meet an IRS collection deadline promised to call yesterday afternoon. So instead of running out to take care of important tasks, I waited all day – and he didn’t bother to call. Of course, this is after he hasn’t returned 2 or 3 calls this week.
Naturally, this is HIS emergency. It’s HIS assets that will be levied if we do nothing. Why should I care, if he’s so irresponsible? Heck, let it happen. Clearly, he deserves whatever they do to him, doesn’t he?
I keep telling him I won’t work with him anymore. But he sweet-talks me into helping, yet again.
Does this sound familiar to you? A friend of mine once described the way her daughter’s boyfriend was abusing her (emotionally). And I say there and nodded, yes, yes, that’s awful. How dare he treat her that way!
Then I look at some of these people who are always getting into tax trouble, time and time again. And I see the same pattern of abusive behavior towards those who are there to help them.
The broken promises to provide information.
The apologies when the system catches them and they desperately need help to get liens or levies removed from homes or paychecks.
The intensely sincere promises that they will behave and cooperate.
And then, of course, after always needing you to drop what you’re doing to bail them out, yet again – they don’t bother to pay until you are pushed to anger.
How does that translate to some of the frustrating relations you have with your clients, ‘friends’, or family members? Do you recognize this personality?
Do you find yourself getting sucked in to help someone you’d rather avoid? Have you looked at the relationship and recognized that this a powerful form of abuse?
What are you going to do about your relationship?
Me, I think mine is just about to end!
And speaking of annoying, someone else recently told me that she couldn’t pay my bill (outstanding for nearly a year) because her husband has been out of work for months.
a) When you’re in that situation, why don’t you let your creditors know. Perhaps they can set aside your invoice until you get back on your feet. Yes, some will. In fact, they might even help you find work.
b) When you owe debts to a variety of businesses, pay PEOPLE first. The small businessowner has to live on those accounts receivable. It’s a huge hardship to that person when they don’t get paid. I can’t imagine not payng a PERSON who’s done work for me – even if I have to borrow the money. People come first to me. Your credit cards, on the other hand, will accept minimum payments.
c) Cut back on your expenses when you’re out of work. Why are you still spending extravagantly? And if you or your spouse are out of work and at home – replace the gardener, pool guy and other services – and do the work yourself until you get on your feet.
d) Look for a job. We’ve talked about how to do that before.
Use this week’s Job Advice. It’s all about who you know.
These days, you’re getting messages all the time from people inviting you to join their social or business networks, like
Facebook, LinkedIn, etc. Why aren’t you scouring YOUR contacts’ connections for people you’d like to work for? Your friends and contacts probably know someone; and can make an introduction.
Frankly, I know it’s tough when you’re out of work. And after a while, desperation seeps into your soul. Succumb to that depression – and it’s all over. Start using the smarts that made you successful in your earlier positions – and treat your own job search as if it were a project for your employer, or a client, and suddenly, the whole search becomes a lot more
objective. Use your creativity. And resources.
Why aren’t you a member of TheLadders? They don’t charge you a dime just to join. And even if you don’t quite qualify for a $100,000 job, the articles and advice they provide is top rate. It applies to anyone.
Thank you for letting me vent. On to humor!
Today’s Money Funnies has lots of neat stuff for you to try.
And please, don’t hesitate to send me your humor – as long as it’s text, none of those huge graphics.
What other goodies do we have for you today?
TaxQuips this week provides help for a mom who wants her past-due child support collected; information on how to find out about your IRS balance due; how to find out the withholding on an old paycheck; and how to make the American Dream come true and get down payment assistance (read more in MarketWatch this week)
IRS News today is about a Supreme Court decision related
to municipal bond interest – provided by Spidell Inc.
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
06.16.2008 2nd 2008 Estimated Payment – all entities Due
06.16.2008 Personal Tax Returns Due for US Taxpayers overseas
06.16.2008 or File extensions for US Taxpayers overseas Form 4868
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Today TaxMama hears from Penny in Kansas who asks. “If a gas station owner is forced by the government to sell part of his property so a street can be widened, is that considered involuntary conversion? Eminent domain? Do you know how this situation should be treated tax-wise?”